| Schedule of Equity Method Investments and Summarized Financial Information |
The following table includes the Company’s carrying amount and percentage ownership of the more significant investments in affiliates at September 30, 2018 and the carrying amount at December 31, 2017:
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September 30, 2018 |
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December 31, 2017 |
|
Percentage
ownership
|
|
Market
value
|
|
Carrying
amount
|
|
Carrying
amount
|
|
|
|
dollars in thousands |
LendingTree (a) |
25.05 |
% |
|
$ |
792,462 |
|
|
$ |
171,027 |
|
|
114,655 |
|
Other |
various |
|
|
NA |
|
|
3,107 |
|
|
— |
|
|
|
|
|
|
$ |
174,134 |
|
|
114,655 |
|
|
|
|
|
|
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|
(a) Both our ownership interest in LendingTree and our share of LendingTree's earnings (losses) are reported on a three month lag. The market value disclosed is as of September 30, 2018 and includes an additional 220,000 shares of LendingTree that were purchased during the three months ended September 30, 2018. |
Summarized financial information for Liberty Broadband is as follows:
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September 30, |
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December 31, |
|
|
2018 |
|
2017 |
|
|
amounts in thousands |
Current assets |
|
$ |
95,478 |
|
|
84,054 |
|
Investment in Charter, accounted for using the equity method |
|
11,977,368 |
|
|
11,835,613 |
|
Other assets |
|
9,828 |
|
|
12,122 |
|
Total assets |
|
12,082,674 |
|
|
11,931,789 |
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Long-term debt, including current portion |
|
522,617 |
|
|
497,370 |
|
Deferred income tax liabilities |
|
961,835 |
|
|
932,593 |
|
Other liabilities |
|
12,927 |
|
|
14,925 |
|
Equity |
|
10,585,295 |
|
|
10,486,901 |
|
Total liabilities and shareholders' equity |
|
$ |
12,082,674 |
|
|
11,931,789 |
|
|
|
|
|
|
|
|
|
|
|
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|
|
|
|
|
|
Three months ended |
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Nine months ended |
|
|
September 30, |
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September 30, |
|
|
2018 |
|
2017 |
|
2018 |
|
2017 |
|
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amounts in thousands |
Revenue |
|
$ |
3,518 |
|
|
3,430 |
|
|
18,680 |
|
|
9,643 |
|
Operating expenses, net |
|
(7,614 |
) |
|
(9,217 |
) |
|
(25,601 |
) |
|
(29,125 |
) |
Operating income (loss) |
|
(4,096 |
) |
|
(5,787 |
) |
|
(6,921 |
) |
|
(19,482 |
) |
Share of earnings (losses) of affiliates |
|
84,739 |
|
|
(5,280 |
) |
|
126,952 |
|
|
25,109 |
|
Gain (loss) on dilution of investment in affiliate |
|
(3,203 |
) |
|
(3,718 |
) |
|
(35,165 |
) |
|
(42,515 |
) |
Realized and unrealized gains (losses) on financial instruments, net |
|
5,678 |
|
|
2,675 |
|
|
3,659 |
|
|
5,026 |
|
Other income (expense), net |
|
(5,717 |
) |
|
(5,087 |
) |
|
(16,371 |
) |
|
(13,669 |
) |
Income tax benefit (expense) |
|
(17,762 |
) |
|
7,333 |
|
|
(17,005 |
) |
|
18,245 |
|
Net earnings (loss) |
|
$ |
59,639 |
|
|
(9,864 |
) |
|
55,149 |
|
|
(27,286 |
) |
|