Time Warner Cable 2009 Annual Report Download - page 39

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PART II
Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities.
The principal market for TWC Common Stock is the NYSE. In connection with the Separation, TWC effected the Recapitalization
in March 2009, causing each share of TWC Class A common stock and Class B common stock to be converted into one share of TWC
Common Stock. For quarterly price information for the two years ended December 31, 2009 with respect to TWC Common Stock and,
prior to the Recapitalization, TWC Class A common stock, as adjusted for the TWC Reverse Stock Split and reflecting the payment of the
Special Dividend, see “Quarterly Financial Information” at page 103 herein, which information is incorporated herein by reference.
There was no established public trading market for the Company’s Class B common stock, which prior to the Separation was held of
record by one holder. There were approximately 33,251 holders of record of TWC Common Stock as of February 10, 2010.
On March 12, 2009, TWC paid the Special Dividend of $10.27 per share ($30.81 per share after giving effect to the 1-for-3 reverse
stock split, aggregating $10.856 billion) to holders of record on March 11, 2009 of TWC’s outstanding Class A common stock and
Class B common stock. On January 28, 2010, TWC announced that it would begin paying a regular quarterly cash dividend of $.40 per
share on TWC Common Stock. TWC expects to pay the first dividend on March 15, 2010 to stockholders of record on February 26, 2010.
TWC currently expects to pay comparable cash dividends in the future; however, changes in TWC’s dividend program will depend on the
Company’s earnings, capital requirements, financial condition and other factors considered relevant by the Company’s Board of
Directors.
Item 6. Selected Financial Data.
The selected financial information of TWC for the five years ended December 31, 2009 is set forth at pages 101 through 102 herein
and is incorporated herein by reference.
Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations.
The information set forth under the caption “Management’s Discussion and Analysis of Results of Operations and Financial
Condition” at pages 32 through 56 herein is incorporated herein by reference.
Item 7A. Quantitative and Qualitative Disclosures About Market Risk.
The information set forth under the caption “Market Risk Management” at pages 51 through 53 herein is incorporated herein by
reference.
Item 8. Financial Statements and Supplementary Data.
The consolidated financial statements of TWC and the report of independent registered public accounting firm thereon set forth at
pages 57 through 97 and 99 herein are incorporated herein by reference.
Quarterly Financial Information set forth at page 103 herein is incorporated herein by reference.
Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure.
Not Applicable.
Item 9A. Controls and Procedures.
Evaluation of Disclosure Controls and Procedures
TWC, under the supervision and with the participation of its management, including the Chief Executive Officer and Chief
Financial Officer, evaluated the effectiveness of the design and operation of TWC’s “disclosure controls and procedures” (as such term is
defined in Rule 13a-15(e) under the Exchange Act) as of the end of the period covered by this report. Based on that evaluation, the Chief
Executive Officer and the Chief Financial Officer concluded that TWC’s disclosure controls and procedures are effective to ensure that
information required to be disclosed in reports filed or submitted by TWC under the Exchange Act is recorded, processed, summarized
and reported within the time periods specified in the SEC’s rules and forms and that information required to be disclosed by TWC is
accumulated and communicated to TWC’s management to allow timely decisions regarding the required disclosure.
Management’s Report on Internal Control Over Financial Reporting
Management’s report on internal control over financial reporting and the report of the independent registered public accounting firm
thereon set forth at pages 98 and 100 is incorporated herein by reference.
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