<PAGE>
FORM 10-Q
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
(Mark one)
[x] Quarterly report pursuant to section 13 or 15(d) of the Securities
Exchange Act of 1934
For the quarterly period ended September 30, 2000
------------------
[ ] Transition report pursuant to section 13 or 15(d) of the Securities
Exchange Act of 1934
For the transition period from _________________ to ____________________
Commission File Number 0-16200
CABLE TV FUND 14-B, LTD.
--------------------------------------------------------------------------------
Exact name of registrant as specified in charter
Colorado #84-1024658
--------------------------------------------------------------------------------
State of organization I.R.S. employer I.D. #
c/o Comcast Corporation
1500 Market Street, Philadelphia, PA 19102-2148
-----------------------------------------------
Address of principal executive office
(215) 665-1700
--------------
Registrant's telephone number
Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months (or for such shorter period that the registrant was
required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days.
Yes X No
------ -----
<PAGE>
CABLE TV FUND 14-B, LTD.
------------------------
(A Limited Partnership)
UNAUDITED BALANCE SHEETS
------------------------
<TABLE>
<CAPTION>
September 30, December 31,
ASSETS 2000 1999
------ ---------------------- ---------------------
<S> <C> <C>
Cash $ 531,360 $ -
Receivable from affiliates - 571,208
---------------------- ---------------------
Total assets $ 531,360 $ 571,208
====================== =====================
LIABILITIES AND PARTNERS' CAPITAL
---------------------------------
LIABILITIES:
Advances from affiliates $ 100,255 $ -
---------------------- ---------------------
Total liabilities 100,255 -
---------------------- ---------------------
PARTNER'S CAPITAL:
General Partner-
Contributed capital 1,000 1,000
Accumulated deficit (1,000) (1,000)
---------------------- ---------------------
- -
---------------------- ---------------------
Limited Partners-
Net contributed capital (261,353 units outstanding
at September 30, 2000 and December 31, 1999) 112,127,301 112,127,301
Distributions (112,853,367) (112,853,367)
Accumulated earnings 1,157,171 1,297,274
---------------------- ---------------------
431,105 571,208
---------------------- ---------------------
Total liabilities and partners' capital $ 531,360 $ 571,208
====================== =====================
</TABLE>
The accompanying notes to unaudited financial statements
are an integral part of these unaudited balance sheets.
2
<PAGE>
CABLE TV FUND 14-B, LTD.
------------------------
(A Limited Partnership)
UNAUDITED STATEMENTS OF OPERATIONS
----------------------------------
<TABLE>
<CAPTION>
For the Three Months Ended For the Nine Months Ended
September 30, September 30,
----------------------------------- ------------------------------------
2000 1999 2000 1999
----------------- ----------------- ------------------ -----------------
<S> <C> <C> <C> <C>
REVENUES $ - $ - $ - $ 237,069
COSTS AND EXPENSES:
Operating expenses - - - 115,608
Management fees and allocated
overhead from Jones Intercable - - - 26,628
Depreciation and amortization - - - 75,588
----------------- ----------------- ------------------ -----------------
OPERATING INCOME - - - 19,245
----------------- ----------------- ------------------ -----------------
OTHER INCOME (EXPENSE):
Interest expense (2,075) (2,146) (3,753) (4,699)
Interest income 9,065 16,646 14,380 16,646
Gain on sale of cable television system - - - 5,492,858
Other, net (38,035) (45,173) (150,730) (604,980)
----------------- ----------------- ------------------ -----------------
Total other income (expense), net (31,045) (30,673) (140,103) 4,899,825
----------------- ----------------- ------------------ -----------------
NET INCOME (LOSS) $ (31,045)$ (30,673)$ (140,103)$ 4,919,070
================= ================= ================== =================
ALLOCATION OF NET INCOME (LOSS):
General Partner $ - $ - $ - $ 2,721
================= ================= ================== =================
Limited Partners $ (31,045)$ (30,673)$ (140,103)$ 4,916,349
================= ================= ================== =================
NET INCOME (LOSS) PER
LIMITED PARTNERSHIP UNIT $ (0.12)$ (0.12)$ (0.54)$ 18.81
================= ================= ================== =================
WEIGHTED AVERAGE NUMBER
OF LIMITED PARTNERSHIP
UNITS OUTSTANDING 261,353 261,353 261,353 261,353
================= ================= ================== =================
</TABLE>
The accompanying notes to unaudited financial statements
are an integral part of these unaudited statements.
3
<PAGE>
CABLE TV FUND 14-B, LTD.
------------------------
(A Limited Partnership)
UNAUDITED STATEMENTS OF CASH FLOWS
----------------------------------
<TABLE>
<CAPTION>
For the Nine Months Ended
September 30,
----------------------------------------------------
2000 1999
---------------------- ---------------------
<S> <C> <C>
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss) $ (140,103) $ 4,919,070
Adjustments to reconcile net income (loss) to net cash
provided by operating activities:
Depreciation and amortization - 75,588
Gain on sale of cable television system - (5,492,858)
Decrease in trade receivables, net - 157,760
Decrease in deposits, prepaid expenses
and deferred charges - 40,396
Transactions with affiliates 671,463 424,186
Decrease in accounts payable and
accrued liabilities and subscriber prepayments - (89,832)
---------------------- ---------------------
Net cash provided by operating activities 531,360 34,310
---------------------- ---------------------
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property and equipment, net - (19,115)
Proceeds from sale of cable television system - 10,720,400
---------------------- ---------------------
Net cash provided by investing activities - 10,701,285
---------------------- ---------------------
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayment of debt - (25,981)
Distributions to limited partners - (9,985,361)
---------------------- ---------------------
Net cash used in financing activities - (10,011,342)
---------------------- ---------------------
Increase in cash 531,360 724,253
Cash, beginning of period - 23,538
---------------------- ---------------------
Cash, end of period $ 531,360 $ 747,791
====================== =====================
SUPPLEMENTAL CASH FLOW DISCLOSURE:
Interest paid $ 8,438 $ -
====================== =====================
</TABLE>
The accompanying notes to unaudited financial statements
are an integral part of these unaudited statements.
4
<PAGE>
CABLE TV FUND 14-B, LTD.
------------------------
(A Limited Partnership)
NOTES TO UNAUDITED FINANCIAL STATEMENTS
---------------------------------------
(1) This Form 10-Q is being filed in conformity with the SEC requirements
for unaudited financial statements and does not contain all of the necessary
footnote disclosures required for a complete presentation of the Balance Sheets
and Statements of Operations and Cash Flows in conformity with generally
accepted accounting principles. However, in the opinion of management, this data
includes all adjustments, consisting only of normal recurring accruals,
necessary to present fairly the financial position of Cable TV Fund 14-B, Ltd.
(the "Partnership") at September 30, 2000 and December 31, 1999, its Statements
of Operations for the three and nine month periods ended September 30, 2000 and
1999 and its Statements of Cash Flows for the nine month periods ended September
30, 2000 and 1999. Certain prior period amounts have been reclassified to
conform to the 2000 presentation.
The Partnership has sold all of its cable television systems. The
Partnership has continued in existence because of pending litigation in which
the Partnership is a party. It cannot be predicted when the Partnership will be
dissolved.
On April 7, 1999, Comcast Corporation ("Comcast") completed the
acquisition of a controlling interest in Jones Intercable, Inc. ("Jones
Intercable"), the Partnership's general partner until March 2, 2000. In December
1999, Comcast and Jones Intercable entered into a definitive merger agreement
pursuant to which Comcast agreed to acquire all of the outstanding shares of
Jones Intercable not yet owned by Comcast. On March 2, 2000, Jones Intercable
was merged with and into Comcast JOIN Holdings, Inc., a wholly owned subsidiary
of Comcast. As a result of this transaction, Jones Intercable no longer exists
and Comcast JOIN Holdings, Inc. continued as the surviving corporation of the
merger. On August 1, 2000 Comcast JOIN Holdings, Inc. was merged with and into
Comcast Cable Communications, Inc. ("Comcast Cable"), another wholly owned
subsidiary of Comcast. Comcast Cable is now the general partner of the
Partnership. References in these Notes to "the General Partner" refer to
Comcast Cable. The General Partner shares corporate offices with Comcast at
1500 Market Street, Philadelphia, Pennsylvania 19102-2148.
(2) The Partnership reimburses its general partner for certain
administrative expenses. These expenses represent the salaries and related
benefits paid for corporate personnel. Such personnel provide administrative,
accounting, tax, legal and investor relations services to the Partnership. Such
services, and their related costs, are necessary to the administration of the
Partnership until the Partnership is dissolved. Such costs were charged to
operating costs during the periods that the Partnership operated its cable
television systems. Subsequent to the sale of the Partnership's final cable
television system, such costs were charged to other expense. Reimbursements
made to the general partner by the Partnership for overhead and administrative
expenses for the three and nine month periods ended September 30, 2000 were
$25,970 and $92,500, respectively, compared to $19,410 and $69,970,
respectively, for the three and nine month periods ended September 30, 1999.
5
<PAGE>
CABLE TV FUND 14-B, LTD.
------------------------
(A Limited Partnership)
MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
---------------------------------------------------------------
RESULTS OF OPERATIONS
---------------------
FINANCIAL CONDITION
-------------------
The only asset of the Partnership is its cash on hand, which is being
held in reserve to pay the Partnership's administrative expenses until the
Partnership is dissolved. The Partnership has continued in existence because of
pending litigation in which the Partnership is a party. It cannot be predicted
when the Partnership will be dissolved.
RESULTS OF OPERATIONS
---------------------
The Partnership has sold all of its cable television systems. Other
expense of $150,730 incurred in the first nine months of 2000 related to
various costs associated with the administration of the Partnership.
6
<PAGE>
PART II - OTHER INFORMATION
Item 6. Exhibits and Reports on Form 8-K.
a) Exhibits
27) Financial Data Schedule
b) Reports on Form 8-K
None
7
<PAGE>
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 thereunto duly authorized.
CABLE TV FUND 14-B, LTD.
BY: COMCAST CABLE COMMUNICATIONS, INC.
General Partner
By: /S/ Lawrence J. Salva
__________________________________
Lawrence J. Salva
Senior Vice President
(Principal Accounting Officer)
Dated: November 14, 2000
8
