| 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):
|
|
|
|
|
|
|
|
|
|
September 30, |
|
December 31, |
|
|
|
|
2024 |
|
2023 |
|
Property and equipment, net |
|
$ |
307 |
|
403 |
|
Customer relationships, net |
|
|
1,827 |
|
2,049 |
|
Franchise fees |
|
|
3,843 |
|
3,843 |
|
Trademarks |
|
|
29 |
|
29 |
|
Goodwill |
|
|
3,934 |
|
4,049 |
|
Debt |
|
|
(263) |
|
(317) |
|
Deferred income tax liability |
|
|
(1,436) |
|
(1,472) |
|
|
|
$ |
8,241 |
|
8,584 |
|
|
| Summary of financial information for Charter |
Charter condensed consolidated balance sheets
|
|
|
|
|
|
|
|
|
September 30, 2024 |
|
December 31, 2023 |
|
|
|
|
amounts in millions |
|
Current assets |
|
$ |
4,492 |
|
4,132 |
|
Property and equipment, net |
|
|
41,846 |
|
39,520 |
|
Goodwill |
|
|
29,668 |
|
29,668 |
|
Intangible assets, net |
|
|
68,603 |
|
69,141 |
|
Other assets |
|
|
4,762 |
|
4,732 |
|
Total assets |
|
$ |
149,371 |
|
147,193 |
|
Current liabilities |
|
$ |
13,160 |
|
13,214 |
|
Deferred income taxes |
|
|
18,983 |
|
18,954 |
|
Long-term debt |
|
|
93,517 |
|
95,777 |
|
Other liabilities |
|
|
5,657 |
|
4,530 |
|
Equity |
|
|
18,054 |
|
14,718 |
|
Total liabilities and shareholders’ equity |
|
$ |
149,371 |
|
147,193 |
|
Charter condensed consolidated statements of operations
|
|
|
|
|
|
|
|
|
|
|
|
|
Three months ended |
|
Nine months ended |
|
|
|
September 30, |
|
September 30, |
|
|
|
2024 |
|
2023 |
|
2024 |
|
2023 |
|
|
|
|
amounts in millions |
|
Revenue |
|
$ |
13,795 |
|
13,584 |
|
41,159 |
|
40,896 |
|
Cost and expenses: |
|
|
|
|
|
|
|
|
|
|
Operating costs and expenses (excluding depreciation and amortization) |
|
|
8,294 |
|
8,299 |
|
24,863 |
|
25,115 |
|
Depreciation and amortization |
|
|
2,145 |
|
2,130 |
|
6,505 |
|
6,508 |
|
Other operating (income) expense, net |
|
|
21 |
|
29 |
|
62 |
|
(19) |
|
|
|
|
10,460 |
|
10,458 |
|
31,430 |
|
31,604 |
|
Operating income |
|
|
3,335 |
|
3,126 |
|
9,729 |
|
9,292 |
|
Interest expense, net |
|
|
(1,311) |
|
(1,306) |
|
(3,955) |
|
(3,869) |
|
Other income (expense), net |
|
|
(144) |
|
(15) |
|
(318) |
|
(204) |
|
Income tax (expense) benefit |
|
|
(406) |
|
(369) |
|
(1,279) |
|
(1,187) |
|
Net income (loss) |
|
|
1,474 |
|
1,436 |
|
4,177 |
|
4,032 |
|
Less: Net income attributable to noncontrolling interests |
|
|
(194) |
|
(181) |
|
(560) |
|
(533) |
|
Net income (loss) attributable to Charter shareholders |
|
$ |
1,280 |
|
1,255 |
|
3,617 |
|
3,499 |
|
|