Information About the Company's Operating Segments (Tables)
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9 Months Ended |
Sep. 30, 2019 |
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| Segment Reporting [Abstract] |
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| Revenue by Segment from Contracts with Customers |
Revenue by segment from contracts with customers, classified by customer type and significant service offerings follows:
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Three months ended |
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Nine months ended |
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September 30, |
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September 30, |
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2019 |
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2018 |
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2019 |
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2018 |
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amounts in thousands |
GCI Holdings |
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Consumer Revenue |
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Wireless |
$ |
29,509 |
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|
25,584 |
|
|
84,506 |
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|
62,312 |
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Data |
42,920 |
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|
39,652 |
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|
125,555 |
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|
88,921 |
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Video |
21,194 |
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|
22,272 |
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|
63,255 |
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|
50,180 |
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Voice |
4,051 |
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|
4,368 |
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|
12,833 |
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|
10,246 |
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Business Revenue |
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Wireless |
20,060 |
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|
18,071 |
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|
57,837 |
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|
44,889 |
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Data |
69,960 |
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|
59,585 |
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|
201,803 |
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|
154,239 |
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Video |
4,115 |
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|
4,927 |
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|
11,928 |
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|
9,436 |
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Voice |
6,747 |
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|
6,361 |
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|
19,587 |
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|
14,282 |
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Lease, grant, and revenue from subsidies |
22,472 |
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|
24,226 |
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|
67,914 |
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|
55,114 |
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Total GCI Holdings |
221,028 |
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|
205,046 |
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|
645,218 |
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|
489,619 |
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Corporate and other |
6,016 |
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|
5,100 |
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|
17,128 |
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|
15,221 |
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Total |
$ |
227,044 |
|
|
210,146 |
|
|
662,346 |
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|
504,840 |
|
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| Components of Adjusted OIBDA |
Adjusted OIBDA is summarized as follows:
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Three months ended September 30, |
|
Nine months ended September 30, |
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2019 |
|
2018 |
|
2019 |
|
2018 |
|
amounts in thousands |
GCI Holdings |
$ |
71,960 |
|
|
57,945 |
|
|
182,552 |
|
|
156,608 |
|
Liberty Broadband |
(4,586 |
) |
|
(2,198 |
) |
|
(11,877 |
) |
|
(414 |
) |
Corporate and other |
(5,382 |
) |
|
(7,205 |
) |
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(17,199 |
) |
|
(20,256 |
) |
|
61,992 |
|
|
48,542 |
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|
153,476 |
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|
135,938 |
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Eliminate Liberty Broadband |
4,586 |
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|
2,198 |
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|
11,877 |
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|
414 |
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$ |
66,578 |
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|
50,740 |
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|
165,353 |
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|
136,352 |
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| Reconciliation of Adjusted OIBDA to Operating Income and Earnings (Loss) from Continuing Operations |
The following table provides a reconciliation of Adjusted OIBDA to operating income (loss) and earnings (loss) from continuing operations before income taxes:
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Three months ended September 30, |
|
Nine months ended September 30, |
|
2019 |
|
2018 |
|
2019 |
|
2018 |
|
amounts in thousands |
Adjusted OIBDA |
$ |
66,578 |
|
|
50,740 |
|
|
165,353 |
|
|
136,352 |
|
Stock‑based compensation |
(5,768 |
) |
|
(7,761 |
) |
|
(18,153 |
) |
|
(20,926 |
) |
Depreciation and amortization |
(66,466 |
) |
|
(62,848 |
) |
|
(200,035 |
) |
|
(143,257 |
) |
Insurance proceeds and restructuring, net |
1,482 |
|
|
— |
|
|
(236 |
) |
|
— |
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Operating income (loss) |
(4,174 |
) |
|
(19,869 |
) |
|
(53,071 |
) |
|
(27,831 |
) |
Interest expense |
(38,353 |
) |
|
(37,614 |
) |
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(116,357 |
) |
|
(81,304 |
) |
Share of earnings (loss) of affiliates, net |
1,921 |
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|
10,856 |
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|
(2,443 |
) |
|
18,714 |
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Realized and unrealized gains (losses) on financial instruments, net |
156,165 |
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|
495,509 |
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|
1,844,863 |
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|
(4,328 |
) |
Tax Sharing Agreement |
2,362 |
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|
2,492 |
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|
18,895 |
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|
(25,456 |
) |
Other, net |
(540 |
) |
|
(834 |
) |
|
13,824 |
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|
(982 |
) |
Earnings (loss) from continuing operations before income taxes |
$ |
117,381 |
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|
450,540 |
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|
1,705,711 |
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|
(121,187 |
) |
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| Reconciliation of Assets from Segment to Consolidated |
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September 30, 2019 |
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|
Total |
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Investments |
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Capital |
|
|
assets |
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in affiliates |
|
expenditures |
|
|
amounts in thousands |
GCI Holdings |
|
$ |
3,346,168 |
|
|
580 |
|
|
107,431 |
|
Liberty Broadband |
|
12,172,047 |
|
|
12,067,329 |
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|
75 |
|
Corporate and other |
|
7,299,135 |
|
|
168,259 |
|
|
1,202 |
|
Eliminate Liberty Broadband |
|
(12,172,047 |
) |
|
(12,067,329 |
) |
|
(75 |
) |
Consolidated |
|
$ |
10,645,303 |
|
|
168,839 |
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|
108,633 |
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