Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2011
Dec. 31, 2010
Current assets:    
Cash and cash equivalents $ 29,387 $ 33,070
Receivables 141,827 132,856
Less allowance for doubtful receivables 5,796 9,189
Net receivables 136,031 123,667
Deferred income taxes 15,555 10,145
Prepaid expenses 7,899 5,950
Inventories 7,522 5,804
Other current assets 3,631 3,940
Total current assets 200,025 182,576
Property and equipment in service, net of depreciation 851,705 798,278
Construction in progress 42,918 31,144
Net property and equipment 894,623 829,422
Cable certificates 191,635 191,635
Goodwill 74,883 73,932
Wireless licenses 25,967 25,967
Restricted cash 15,910 0
Other intangible assets, net of amortization 15,835 17,717
Deferred loan and senior notes costs, net of amortization 12,812 13,661
Other assets 17,214 16,850
Total other assets 354,256 339,762
Total assets 1,448,904 1,351,760
Current liabilities:    
Current maturities of obligations under long-term debt and capital leases 8,797 7,652
Accounts payable 41,353 35,589
Deferred revenue 22,003 17,296
Accrued payroll and payroll related obligations 22,126 22,132
Accrued interest 6,680 13,456
Accrued liabilities 11,423 12,557
Subscriber deposits 1,250 1,271
Total current liabilities 113,632 109,953
Long-term debt, net 858,031 779,201
Obligations under capital leases, excluding current maturities 78,605 84,144
Obligation under capital lease due to related party 1,893 1,885
Deferred income taxes 115,296 102,401
Long-term deferred revenue 81,822 49,175
Other liabilities 24,456 24,495
Total liabilities 1,273,735 1,151,254
Stockholders' equity:    
Paid-in capital 32,795 37,075
Retained earnings 99,433 93,607
Total General Communication, Inc. stockholders' equity 158,861 200,506
Non-controlling interest 16,308 0
Total stockholders' equity 175,169 200,506
Total liabilities and stockholders' equity 1,448,904 1,351,760
Common Stock - Class A [Member]
    
Stockholders' equity:    
Common stock, no par 26,179 69,396
Less treasury stock (2,225) (2,249)
Common Stock - Class B [Member]
    
Stockholders' equity:    
Common stock, no par $ 2,679 $ 2,677