| | | | | PS-i | | | |
| | | | | PS-i | | | |
| | | | | PS-ii | | | |
| | | | | PS-ii | | | |
| | | | | PS-iv | | | |
| | | | | PS-1 | | | |
| | | | | PS-12 | | | |
| | | | | PS-21 | | | |
| | | | | PS-22 | | | |
| | | | | PS-25 | | | |
| | | | | PS-26 | | | |
| | | | | PS-31 | | | |
| | | | | PS-58 | | | |
| | | | | PS-63 | | | |
| | | | | PS-67 | | | |
| | | | | PS-67 | | | |
| | | | | PS-67 | | |
| | | | | ii | | | |
| | | | | iii | | | |
| | | | | iv | | | |
| | | | | iv | | | |
| | | | | 1 | | | |
| | | | | 3 | | | |
| | | | | 3 | | | |
| | | | | 3 | | | |
| | | | | 4 | | | |
| | | | | 4 | | |
| | |
Accreted
Value Historical(a) |
| |
Principal
Amount Historical |
| |
Principal
Amount Pro Forma |
| |
Principal
Amount Pro Forma as Adjusted |
| ||||||||||||
|
($ in millions)
|
| |||||||||||||||||||||||
Cash and cash equivalents
|
| | | $ | 321 | | | | | $ | 321 | | | | | $ | 658 | | | | | $ | | | |
Debt (including current portion): | | | | | | | | | | | | | | | | | | | | | | | | | |
Time Warner Cable, LLC: | | | | | | | | | | | | | | | | | | | | | | | | | |
5.750% sterling senior notes due 2031 (£625 million principal)(b)
|
| | | | 897 | | | | | | 846 | | | | | | 846 | | | | | | 846 | | |
6.550% senior debentures due 2037
|
| | | | 1,662 | | | | | | 1,500 | | | | | | 1,500 | | | | | | 1,500 | | |
7.300% senior debentures due 2038
|
| | | | 1,754 | | | | | | 1,500 | | | | | | 1,500 | | | | | | 1,500 | | |
6.750% senior debentures due 2039
|
| | | | 1,700 | | | | | | 1,500 | | | | | | 1,500 | | | | | | 1,500 | | |
5.875% senior debentures due 2040
|
| | | | 1,252 | | | | | | 1,200 | | | | | | 1,200 | | | | | | 1,200 | | |
5.500% senior debentures due 2041
|
| | | | 1,257 | | | | | | 1,250 | | | | | | 1,250 | | | | | | 1,250 | | |
5.250% sterling senior notes due 2042 (£650 million principal)(b)
|
| | | | 850 | | | | | | 879 | | | | | | 879 | | | | | | 879 | | |
4.500% senior debentures due 2042
|
| | | | 1,148 | | | | | | 1,250 | | | | | | 1,250 | | | | | | 1,250 | | |
Time Warner Cable Enterprises LLC: | | | | | | | | | | | | | | | | | | | | | | | | | |
8.375% senior debentures due 2023
|
| | | | 1,058 | | | | | | 1,000 | | | | | | 1,000 | | | | | | 1,000 | | |
8.375% senior debentures due 2033
|
| | | | 1,254 | | | | | | 1,000 | | | | | | 1,000 | | | | | | 1,000 | | |
Time Warner Cable debt
|
| | | | 12,832 | | | | | | 11,925 | | | | | | 11,925 | | | | | | 11,925 | | |
Charter Communications Operating, LLC: | | | | | | | | | | | | | | | | | | | | | | | | | |
Credit facilities
|
| | | | 10,668 | | | | | | 10,723 | | | | | | 9,873 | | | | | | 9,873 | | |
4.464% senior secured notes due 2022
|
| | | | 2,997 | | | | | | 3,000 | | | | | | 3,000 | | | | | | 3,000 | | |
Senior floating rate notes due 2024
|
| | | | 901 | | | | | | 900 | | | | | | 900 | | | | | | 900 | | |
4.500% senior secured notes due 2024
|
| | | | 1,096 | | | | | | 1,100 | | | | | | 1,100 | | | | | | 1,100 | | |
4.908% senior secured notes due 2025
|
| | | | 4,480 | | | | | | 4,500 | | | | | | 4,500 | | | | | | 4,500 | | |
3.750% senior secured notes due 2028
|
| | | | 990 | | | | | | 1,000 | | | | | | 1,000 | | | | | | 1,000 | | |
4.200% senior secured notes due 2028
|
| | | | 1,242 | | | | | | 1,250 | | | | | | 1,250 | | | | | | 1,250 | | |
| | |
Accreted
Value Historical(a) |
| |
Principal
Amount Historical |
| |
Principal
Amount Pro Forma |
| |
Principal
Amount Pro Forma as Adjusted |
| ||||||||||||
|
($ in millions)
|
| |||||||||||||||||||||||
2.250% senior secured notes due 2029
|
| | | | 1,240 | | | | | | 1,250 | | | | | | 1,250 | | | | | | 1,250 | | |
5.050% senior secured notes due 2029
|
| | | | 1,242 | | | | | | 1,250 | | | | | | 1,250 | | | | | | 1,250 | | |
2.800% senior secured notes due 2031
|
| | | | 1,585 | | | | | | 1,600 | | | | | | 1,600 | | | | | | 1,600 | | |
2.300% senior secured notes due 2032
|
| | | | 992 | | | | | | 1,000 | | | | | | 1,000 | | | | | | 1,000 | | |
6.384% senior secured notes due 2035
|
| | | | 1,984 | | | | | | 2,000 | | | | | | 2,000 | | | | | | 2,000 | | |
5.375% senior secured notes due 2038
|
| | | | 787 | | | | | | 800 | | | | | | 800 | | | | | | 800 | | |
3.500% senior secured notes due 2041
|
| | | | 1,483 | | | | | | 1,500 | | | | | | 1,500 | | | | | | 1,500 | | |
3.500% senior secured notes due 2042
|
| | | | 1,331 | | | | | | 1,350 | | | | | | 1,350 | | | | | | 1,350 | | |
6.484% senior secured notes due 2045
|
| | | | 3,468 | | | | | | 3,500 | | | | | | 3,500 | | | | | | 3,500 | | |
5.375% senior secured notes due 2047
|
| | | | 2,506 | | | | | | 2,500 | | | | | | 2,500 | | | | | | 2,500 | | |
5.750% senior secured notes due 2048
|
| | | | 2,393 | | | | | | 2,450 | | | | | | 2,450 | | | | | | 2,450 | | |
5.125% senior secured notes due 2049
|
| | | | 1,240 | | | | | | 1,250 | | | | | | 1,250 | | | | | | 1,250 | | |
4.800% senior secured notes due 2050
|
| | | | 2,797 | | | | | | 2,800 | | | | | | 2,800 | | | | | | 2,800 | | |
3.700% senior secured notes due 2051
|
| | | | 2,031 | | | | | | 2,050 | | | | | | 2,050 | | | | | | 2,050 | | |
3.900% senior secured notes due 2052
|
| | | | 2,322 | | | | | | 2,400 | | | | | | 2,400 | | | | | | 2,400 | | |
6.834% senior secured notes due 2055
|
| | | | 495 | | | | | | 500 | | | | | | 500 | | | | | | 500 | | |
3.850% senior secured notes due 2061
|
| | | | 1,809 | | | | | | 1,850 | | | | | | 1,850 | | | | | | 1,850 | | |
4.400% senior secured notes due 2061
|
| | | | 1,389 | | | | | | 1,400 | | | | | | 1,400 | | | | | | 1,400 | | |
3.950% senior secured notes due 2062
|
| | | | 1,379 | | | | | | 1,400 | | | | | | 1,400 | | | | | | 1,400 | | |
Notes offered hereby
|
| | | | — | | | | | | — | | | | | | — | | | | | | | | |
CCO consolidated debt(c)
|
| | | | 67,679 | | | | | | 67,248 | | | | | | 66,398 | | | | | | | | |
CCO Holdings, LLC: | | | | | | | | | | | | | | | | | | | | | | | | | |
4.000% senior notes due 2023
|
| | | | 499 | | | | | | 500 | | | | | | 500 | | | | | | 500 | | |
5.500% senior notes due 2026
|
| | | | 747 | | | | | | 750 | | | | | | 750 | | | | | | 750 | | |
5.125% senior notes due 2027
|
| | | | 3,228 | | | | | | 3,250 | | | | | | 3,250 | | | | | | 3,250 | | |
5.000% senior notes due 2028
|
| | | | 2,475 | | | | | | 2,500 | | | | | | 2,500 | | | | | | 2,500 | | |
5.375% senior notes due 2029
|
| | | | 1,500 | | | | | | 1,500 | | | | | | 1,500 | | | | | | 1,500 | | |
4.750% senior notes due 2030
|
| | | | 3,043 | | | | | | 3,050 | | | | | | 3,050 | | | | | | 3,050 | | |
4.500% senior notes due 2030
|
| | | | 2,750 | | | | | | 2,750 | | | | | | 2,750 | | | | | | 2,750 | | |
4.250% senior notes due 2031
|
| | | | 3,002 | | | | | | 3,000 | | | | | | 3,000 | | | | | | 3,000 | | |
4.500% senior notes due 2032
|
| | | | 2,927 | | | | | | 2,900 | | | | | | 2,900 | | | | | | 2,900 | | |
4.750% senior notes due 2032
|
| | | | — | | | | | | — | | | | | | 1,200 | | | | | | 1,200 | | |
4.500% senior notes due 2033
|
| | | | 1,729 | | | | | | 1,750 | | | | | | 1,750 | | | | | | 1,750 | | |
4.250% senior notes due 2034
|
| | | | 1,982 | | | | | | 2,000 | | | | | | 2,000 | | | | | | 2,000 | | |
CCO Holdings consolidated debt(c)
|
| | | | 91,561 | | | | | | 91,198 | | | | | | 91,548 | | | | | | | | |
Member’s equity: | | | | | | | | | | | | | | | | | | | | | | | | | |
Total CCO Holdings member’s equity
|
| | | | 36,203 | | | | | | 36,203 | | | | | | 36,203 | | | | | | 36,203 | | |
Noncontrolling interest
|
| | | | 24 | | | | | | 24 | | | | | | 24 | | | | | | 24 | | |
Total member’s equity
|
| | | | 36,227 | | | | | | 36,227 | | | | | | 36,227 | | | | | | 36,227 | | |
Total Capitalization
|
| | | $ | 127,788 | | | | | $ | 127,425 | | | | | $ | 127,775 | | | | | $ | | | |
|
| | |
Year Ended December 31,
|
| |||||||||||||||||||||||||||
| | |
2017
|
| |
2018
|
| |
2019
|
| |
2020
|
| |
2021
|
| |||||||||||||||
| | |
(in millions)
|
| |||||||||||||||||||||||||||
Statement of Operations Data: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Revenues
|
| | | $ | 41,578 | | | | | $ | 43,620 | | | | | $ | 45,756 | | | | | $ | 48,088 | | | | | $ | 51,674 | | |
Income from operations
|
| | | $ | 3,995 | | | | | $ | 5,192 | | | | | $ | 6,459 | | | | | $ | 8,298 | | | | | $ | 10,481 | | |
Interest expense, net
|
| | | $ | 3,115 | | | | | $ | 3,579 | | | | | $ | 3,839 | | | | | $ | 3,866 | | | | | $ | 4,023 | | |
Income before income taxes
|
| | | $ | 906 | | | | | $ | 1,649 | | | | | $ | 2,341 | | | | | $ | 4,195 | | | | | $ | 6,354 | | |
Net income attributable to CCO Holdings member
|
| | | $ | 882 | | | | | $ | 1,632 | | | | | $ | 2,251 | | | | | $ | 4,165 | | | | | $ | 6,311 | | |
Balance Sheet Data (end of period): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total investment in cable properties, net
|
| | | $ | 142,376 | | | | | $ | 141,096 | | | | | $ | 138,237 | | | | | $ | 135,981 | | | | | $ | 134,295 | | |
Total assets
|
| | | $ | 145,693 | | | | | $ | 144,898 | | | | | $ | 146,743 | | | | | $ | 142,621 | | | | | $ | 140,711 | | |
Total debt
|
| | | $ | 70,231 | | | | | $ | 72,827 | | | | | $ | 79,078 | | | | | $ | 82,752 | | | | | $ | 91,561 | | |
Total member’s equity
|
| | | $ | 63,582 | | | | | $ | 60,554 | | | | | $ | 55,289 | | | | | $ | 47,208 | | | | | $ | 36,227 | | |
| | |
December 31, 2021
|
| |||||||||
| | |
Principal
Amount |
| |
Accreted
Value(a) |
| ||||||
| | |
($ in millions)
|
| |||||||||
CCO Holdings, LLC: | | | | | | | | | | | | | |
4.000% senior notes due March 1, 2023
|
| | | $ | 500 | | | | | $ | 499 | | |
5.500% senior notes due May 1, 2026
|
| | | | 750 | | | | | | 747 | | |
5.125% senior notes due May 1, 2027
|
| | | | 3,250 | | | | | | 3,228 | | |
5.000% senior notes due February 1, 2028
|
| | | | 2,500 | | | | | | 2,475 | | |
5.375% senior notes due June 1, 2029
|
| | | | 1,500 | | | | | | 1,500 | | |
4.750% senior notes due March 1, 2030
|
| | | | 3,050 | | | | | | 3,043 | | |
4.500% senior notes due August 15, 2030
|
| | | | 2,750 | | | | | | 2,750 | | |
4.250% senior notes due February 1, 2031
|
| | | | 3,000 | | | | | | 3,002 | | |
4.500% senior notes due May 1, 2032
|
| | | | 2,900 | | | | | | 2,927 | | |
4.500% senior notes due June 1, 2033
|
| | | | 1,750 | | | | | | 1,729 | | |
4.250% senior notes due January 15, 2034
|
| | | | 2,000 | | | | | | 1,982 | | |
Charter Communications Operating, LLC: | | | | | | | | | | | | | |
4.464% senior notes due July 23, 2022
|
| | | | 3,000 | | | | | | 2,997 | | |
Senior floating rate notes due February 1, 2024
|
| | | | 900 | | | | | | 901 | | |
4.500% senior notes due February 1, 2024
|
| | | | 1,100 | | | | | | 1,096 | | |
4.908% senior notes due July 23, 2025
|
| | | | 4,500 | | | | | | 4,480 | | |
3.750% senior notes due February 15, 2028
|
| | | | 1,000 | | | | | | 990 | | |
4.200% senior notes due March 15, 2028
|
| | | | 1,250 | | | | | | 1,242 | | |
2.250% senior notes due January 15, 2029
|
| | | | 1,250 | | | | | | 1,240 | | |
5.050% senior notes due March 30, 2029
|
| | | | 1,250 | | | | | | 1,242 | | |
2.800% senior notes due April 1, 2031
|
| | | | 1,600 | | | | | | 1,585 | | |
2.300% senior notes due February 1, 2032
|
| | | | 1,000 | | | | | | 992 | | |
6.384% senior notes due October 23, 2035
|
| | | | 2,000 | | | | | | 1,984 | | |
5.375% senior notes due April 1, 2038
|
| | | | 800 | | | | | | 787 | | |
3.500% senior notes due June 1, 2041
|
| | | | 1,500 | | | | | | 1,483 | | |
3.500% senior notes due March 1, 2042
|
| | | | 1,350 | | | | | | 1,331 | | |
6.484% senior notes due October 23, 2045
|
| | | | 3,500 | | | | | | 3,468 | | |
5.375% senior notes due May 1, 2047
|
| | | | 2,500 | | | | | | 2,506 | | |
5.750% senior notes due April 1, 2048
|
| | | | 2,450 | | | | | | 2,393 | | |
5.125% senior notes due July 1, 2049
|
| | | | 1,250 | | | | | | 1,240 | | |
4.800% senior notes due March 1, 2050
|
| | | | 2,800 | | | | | | 2,797 | | |
3.700% senior notes due April 1, 2051
|
| | | | 2,050 | | | | | | 2,031 | | |
3.900% senior notes due June 1, 2052
|
| | | | 2,400 | | | | | | 2,322 | | |
6.834% senior notes due October 23, 2055
|
| | | | 500 | | | | | | 495 | | |
3.850% senior notes due April 1, 2061
|
| | | | 1,850 | | | | | | 1,809 | | |
4.400% senior notes due December 1, 2061
|
| | | | 1,400 | | | | | | 1,389 | | |
3.950% senior notes due June 30, 2062
|
| | | | 1,400 | | | | | | 1,379 | | |
| | |
December 31, 2021
|
| |||||||||
| | |
Principal
Amount |
| |
Accreted
Value(a) |
| ||||||
| | |
($ in millions)
|
| |||||||||
Credit facilities
|
| | | | 10,723 | | | | | | 10,668 | | |
Time Warner Cable, LLC: | | | | | | | | | | | | | |
5.750% sterling senior notes due June 2, 2031(b)
|
| | | | 846 | | | | | | 897 | | |
6.550% senior debentures due May 1, 2037
|
| | | | 1,500 | | | | | | 1,662 | | |
7.300% senior debentures due July 1, 2038
|
| | | | 1,500 | | | | | | 1,754 | | |
6.750% senior debentures due June 15, 2039
|
| | | | 1,500 | | | | | | 1,700 | | |
5.875% senior debentures due November 15, 2040
|
| | | | 1,200 | | | | | | 1,252 | | |
5.500% senior debentures due September 1, 2041
|
| | | | 1,250 | | | | | | 1,257 | | |
5.250% sterling senior notes due July 15, 2042(c)
|
| | | | 879 | | | | | | 850 | | |
4.500% senior debentures due September 15, 2042
|
| | | | 1,250 | | | | | | 1,148 | | |
Time Warner Cable Enterprises LLC: | | | | | | | | | | | | | |
8.375% senior debentures due March 15, 2023
|
| | | | 1,000 | | | | | | 1,058 | | |
8.375% senior debentures due July 15, 2033
|
| | | | 1,000 | | | | | | 1,254 | | |
Total debt
|
| | | | 91,198 | | | | | | 91,561 | | |
Less current portion:
|
| | | | | | | | | | | | |
4.464% senior notes due July 23, 2022
|
| | | | (3,000) | | | | | | (2,997) | | |
Long-term debt
|
| | | $ | 88,198 | | | | | $ | 88,564 | | |
|
Underwriter
|
| |
Principal Amount
of Notes to be Purchased |
| |
Principal Amount
of Notes to be Purchased |
| |
Principal Amount
of Notes to be Purchased |
| |||||||||
J.P. Morgan Securities LLC
|
| | | $ | | | | | $ | | | | | $ | | | |||
Morgan Stanley & Co. LLC
|
| | | | | | | | | | | | | | | | | | |
Wells Fargo Securities, LLC
|
| | | | | | | | | | | | | | | | |||
Total
|
| | | $ | | | | | $ | | | | | $ | | |
| | | | | ii | | | |
| | | | | iii | | | |
| | | | | iv | | | |
| | | | | iv | | | |
| | | | | 1 | | | |
| | | | | 3 | | | |
| | | | | 3 | | | |
| | | | | 3 | | | |
| | | | | 4 | | | |
| | | | | 4 | | |