-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, MWOjKzsnPvd8mvJRRb6OASrmKW9N+qgOdUwFb/QH1izPbzynu/YnkSYF/j7VJyB3 udlmC3DGAiAw4pdMe6WITA== 0000950144-02-012182.txt : 20021121 0000950144-02-012182.hdr.sgml : 20021121 20021121110303 ACCESSION NUMBER: 0000950144-02-012182 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20021121 ITEM INFORMATION: Other events FILED AS OF DATE: 20021121 FILER: COMPANY DATA: COMPANY CONFORMED NAME: COX COMMUNICATIONS INC /DE/ CENTRAL INDEX KEY: 0000025305 STANDARD INDUSTRIAL CLASSIFICATION: CABLE & OTHER PAY TELEVISION SERVICES [4841] IRS NUMBER: 582112281 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-06590 FILM NUMBER: 02835634 BUSINESS ADDRESS: STREET 1: 1400 LAKE HEARN DR NE CITY: ATLANTA STATE: GA ZIP: 30319 BUSINESS PHONE: 4048435000 MAIL ADDRESS: STREET 1: 1400 LAKE HEARN DRIVE CITY: ATLANTA STATE: GA ZIP: 30319 FORMER COMPANY: FORMER CONFORMED NAME: COX CABLE COMMUNICATIONS INC DATE OF NAME CHANGE: 19940614 FORMER COMPANY: FORMER CONFORMED NAME: COX COMMUNICATIONS INC/DE DATE OF NAME CHANGE: 19941123 8-K 1 g79527e8vk.htm COX COMMUNICATIONS, INC. Cox Communications, Inc.
 

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

Current Report Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): November 21, 2002

Cox Communications, Inc.

(Exact name of registrant as specified in its charter)
         
Delaware   1-6590   58-2112281
 
 
(State or other
jurisdiction of incorporation)		   (Commission
File Number) 		  (I.R.S. Employer
Identification No.)
     
1400 Lake Hearn Drive
Atlanta, Georgia		   30319
 
(Address of principal executive offices)   (Zip Code)

(404) 843-5000

(Registrant’s telephone number, including area code)

 

 

Item 5. Other Events.

     In accordance with SEC guidance provided with respect to FASB Statement of Financial Accounting Standards (“SFAS”) No. 142, Goodwill and Other Intangible Assets, Cox Communications, Inc. is providing the following information for incorporation by reference in its registration statements filed with the SEC.

     On January 1, 2002, Cox adopted SFAS No. 142, which requires that goodwill and certain intangible assets, including those recorded in past business combinations, no longer be amortized through the statement of operations, but instead be tested for impairment at least annually.

     Cox has certain intangible assets that have been determined to have indefinite useful lives. Accordingly, Cox discontinued the amortization of intangible assets with indefinite lives, which consist primarily of franchise value, effective January 1, 2002. Had Cox been accounting for intangible assets under SFAS No. 142 for the years ended December 31, 2001, 2000, and 1999, Cox’s net income and net income per share would have been as follows:

                         
    Year Ended December 31
   
    2001   2000   1999
   
 
 
    (Thousands of Dollars, excluding per share data)
Reported income before cumulative effect of change in accounting principle
   $ 37,911     $ 1,925,255     $ 881,928  
Franchise value amortization, net of tax
     250,214       256,397       127,429  
 
    
     
     
 
Adjusted income before cumulative effect of change in accounting principle
     288,125       2,181,652       1,009,357  
Cumulative effect of change in accounting principle
     717,090       —       —  
 
    
     
     
 
Adjusted net income
   $ 1,005,215     $ 2,181,652     $ 1,009,357  
 
    
     
     
 
Basic net income per share:
                        
Reported income before cumulative effect of change in accounting principle
   $ 0.06     $ 3.20     $ 1.54  
Add back franchise value amortization, net of tax
     0.42       0.42       0.22  
 
    
     
     
 
Adjusted income before cumulative effect of change in accounting principle
     0.48       3.62       1.76  
Cumulative effect of change in accounting principle
     1.20       —       —  
 
    
     
     
 
Adjusted basic net income per share
   $ 1.68     $ 3.62     $ 1.76  
 
    
     
     
 
Diluted net income per share:
                        
Reported income before cumulative effect of change in accounting principle
   $ 0.06     $ 3.16     $ 1.51  
Add back franchise value amortization, net of tax
     0.41       0.42       0.22  
 
    
     
     
 
Adjusted income before cumulative effect of change in accounting principle
     0.47       3.58       1.73  
Cumulative effect of change in accounting principle
     1.18       —       —  
 
    
     
     
 
Adjusted diluted net income per share
   $ 1.65     $ 3.58     $ 1.73  
 
    
     
     
 

 

 

SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

         
    COX COMMUNICATIONS, INC.
         
Date: November 21, 2002   By:   /s/ William J. Fitzsimmons
       
        William J. Fitzsimmons
Vice President of Accounting and Financial Planning

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