| Schedule of allocation of excess basis within memo accounts used for equity accounting purposes |
The excess basis in our investment in Charter is allocated within memo accounts used for equity method accounting purposes as follows (amounts in millions):
|
|
|
|
|
|
|
|
|
|
March 31, |
|
December 31, |
|
|
|
|
2024 |
|
2023 |
|
Property and equipment, net |
|
$ |
370 |
|
403 |
|
Customer relationships, net |
|
|
1,979 |
|
2,049 |
|
Franchise fees |
|
|
3,844 |
|
3,843 |
|
Trademarks |
|
|
32 |
|
29 |
|
Goodwill |
|
|
4,012 |
|
4,049 |
|
Debt |
|
|
(302) |
|
(317) |
|
Deferred income tax liability |
|
|
(1,451) |
|
(1,472) |
|
|
|
$ |
8,484 |
|
8,584 |
|
|
| Summary of financial information for Charter |
Charter condensed consolidated balance sheets
|
|
|
|
|
|
|
|
|
March 31, 2024 |
|
December 31, 2023 |
|
|
|
|
amounts in millions |
|
Current assets |
|
$ |
4,396 |
|
4,132 |
|
Property and equipment, net |
|
|
40,349 |
|
39,520 |
|
Goodwill |
|
|
29,668 |
|
29,668 |
|
Intangible assets, net |
|
|
68,905 |
|
69,141 |
|
Other assets |
|
|
4,726 |
|
4,732 |
|
Total assets |
|
$ |
148,044 |
|
147,193 |
|
Current liabilities |
|
$ |
10,926 |
|
13,214 |
|
Deferred income taxes |
|
|
18,966 |
|
18,954 |
|
Long-term debt |
|
|
97,965 |
|
95,777 |
|
Other liabilities |
|
|
4,581 |
|
4,530 |
|
Equity |
|
|
15,606 |
|
14,718 |
|
Total liabilities and shareholders’ equity |
|
$ |
148,044 |
|
147,193 |
|
Charter condensed consolidated statements of operations
|
|
|
|
|
|
|
|
|
Three months ended |
|
|
|
March 31, |
|
|
|
2024 |
|
2023 |
|
|
|
|
amounts in millions |
|
Revenue |
|
$ |
13,679 |
|
13,653 |
|
Cost and expenses: |
|
|
|
|
|
|
Operating costs and expenses (excluding depreciation and amortization) |
|
|
8,396 |
|
8,511 |
|
Depreciation and amortization |
|
|
2,190 |
|
2,206 |
|
Other operating (income) expense, net |
|
|
(38) |
|
10 |
|
|
|
|
10,548 |
|
10,727 |
|
Operating income |
|
|
3,131 |
|
2,926 |
|
Interest expense, net |
|
|
(1,316) |
|
(1,265) |
|
Other income (expense), net |
|
|
(89) |
|
(104) |
|
Income tax (expense) benefit |
|
|
(446) |
|
(374) |
|
Net income (loss) |
|
|
1,280 |
|
1,183 |
|
Less: Net income attributable to noncontrolling interests |
|
|
(174) |
|
(162) |
|
Net income (loss) attributable to Charter shareholders |
|
$ |
1,106 |
|
1,021 |
|
|