Commitments and Contingencies |
9 Months Ended |
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Sep. 30, 2023 | |
Commitments and Contingencies | |
Commitments and Contingencies |
(9) Commitments and Contingencies General Litigation The Company has contingent liabilities related to legal and tax proceedings and other matters arising in the ordinary course of business. Although it is reasonably possible the Company may incur losses upon conclusion of such matters, an estimate of any loss or range of loss cannot be made. In the opinion of management, it is expected that amounts, if any, which may be required to satisfy such contingencies will not be material in relation to the accompanying condensed consolidated financial statements. Charter and Liberty Broadband - Delaware Litigation On January 12, 2023, the parties reached a tentative agreement to settle the lawsuit between Matthew Sciabacucchi, a purported stockholder of Charter, and Liberty Broadband and the board of directors of Charter. This litigation was described in detail in Liberty Broadband’s Annual Report on Form 10-K for the year ended December 31, 2022. The court approved the settlement at a fairness hearing on June 22, 2023 and Liberty Broadband paid approximately $38 million to Charter as a result of the settlement, which had been accrued as a current liability in the condensed consolidated balance sheet and recorded as a litigation settlement expense within operating income in the fourth quarter of 2022. Rural Health Care (“RHC”) Program. As described in detail in Liberty Broadband’s Annual Report on Form 10-K for the year ended December 31, 2022, GCI Holdings has had ongoing inquiries from the Federal Communications Commission (the "FCC") and the Department of Justice (the “DOJ”) regarding various aspects of GCI Holdings’ participation in the RHC Program, which is one of several Universal Service Fund programs. Based on these inquiries and various interactions with the FCC and the DOJ, GCI Holdings had previously recorded estimated settlement liabilities totaling $41 million. On May 10, 2023, GCI Holdings entered into a final settlement agreement with both the FCC and the DOJ, which resulted in a total cash payment of $41 million of which $27 million was paid to the FCC and $14 million was paid to the DOJ during the second quarter of 2023. Additionally, as part of the settlement with the FCC and the DOJ, GCI Holdings withdrew all of its open Applications for Review related to FCC rate reduction matters. |