Time Warner Cable 2010 Annual Report Download - page 139

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TIME WARNER CABLE INC.
SELECTED FINANCIAL INFORMATION—(Continued)
2010 2009 2008 2007 2006
Year Ended December 31,
(in millions)
Selected Balance Sheet Information:
(a)
Cash and equivalents ......................... $ 3,047 $ 1,048 $ 5,449 $ 232 $ 51
Total assets ................................ 45,822 43,694 47,889 56,600 55,821
Total debt
(e)
............................... 23,121 22,331 17,728 13,577 14,432
(a)
On July 31, 2006, a subsidiary of TWC, TW NY, and Comcast Corporation (together with its subsidiaries, “Comcast”) completed the acquisition
of substantially all of the cable assets of Adelphia Communications Corporation (“Adelphia”) and related transactions. In addition, effective
January 1, 2007, TWC began consolidating the results of certain cable systems located in Kansas City, south and west Texas and New Mexico
(the “Kansas City Pool”) upon the distribution of the assets of Texas and Kansas City Cable Partners, L.P. (“TKCCP”) to TWC and Comcast.
Prior to January 1, 2007, TWC’s interest in TKCCP was reported as an equity-method investment.
(b)
Total costs and expenses and Operating Income (Loss) include restructuring costs of $52 million in 2010, $81 million in 2009 and $15 million in
2008 and merger-related and restructuring costs of $23 million in 2007 and $56 million in 2006. Total costs and expenses and Operating Income
(Loss) in 2008 includes a $14.822 billion impairment charge on cable franchise rights and a $58 million loss on the sale of cable systems.
(c)
Other income (expense), net, includes income (losses) from equity-method investments of $(110) million in 2010, $(49) million in 2009,
$16 million in 2008, $11 million in 2007 and $129 million in 2006 and gains (losses) related to the change in the fair value of the Time Warner
equity award reimbursement obligation of $5 million in 2010 and $(21) million in 2009. Other income (expense), net, in 2009 includes
$28 million of direct transaction costs (e.g., legal and professional fees) related to the Separation and a $12 million gain due to a post-closing
adjustment related to the 2007 dissolution of TKCCP. Other income (expense), net, in 2008 includes $17 million of direct transaction costs
related to the Separation and a $367 million impairment charge on the Company’s investment in Clearwire Communications LLC, an equity-
method investment. Other income (expense), net, in 2007 includes a gain of $146 million as a result of the distribution of the assets of TKCCP.
(d)
Cumulative effect of accounting change, net of tax, includes a benefit in 2006 related to the cumulative effect of a change in accounting principle
recognized in connection with the adoption of authoritative guidance issued by the Financial Accounting Standards Board regarding accounting
for share-based payments.
(e)
Amounts include $1 million and $4 million of debt due within one year as of December 31, 2008 and 2006, respectively, which primarily relates
to capital lease obligations.
127