| Schedule of allocation of excess basis within memo accounts used for equity accounting purposes |
The excess basis in our investment in Charter of $9,210 million as of March 31, 2021 is allocated within memo accounts used for equity method accounting purposes as follows (amounts in millions):
|
|
|
|
|
|
|
|
|
March 31, |
|
December 31, |
|
|
|
2021 |
|
2020 |
Property and equipment |
|
$ |
766 |
|
733 |
Customer relationships |
|
|
2,769 |
|
2,726 |
Franchise fees |
|
|
3,849 |
|
3,693 |
Trademarks |
|
|
29 |
|
29 |
Goodwill |
|
|
4,116 |
|
3,934 |
Debt |
|
|
(626) |
|
(602) |
Deferred income tax liability |
|
|
(1,693) |
|
(1,641) |
|
|
$ |
9,210 |
|
8,872 |
|
| Summary of financial information for Charter |
Summarized unaudited financial information for Charter is as follows (amounts in millions):
Charter condensed consolidated balance sheets
|
|
|
|
|
|
|
|
|
March 31, 2021 |
|
December 31, 2020 |
|
Current assets |
|
$ |
3,663 |
|
3,909 |
|
Property and equipment, net |
|
|
34,184 |
|
34,357 |
|
Goodwill |
|
|
29,554 |
|
29,554 |
|
Intangible assets, net |
|
|
72,507 |
|
72,937 |
|
Other assets |
|
|
3,531 |
|
3,449 |
|
Total assets |
|
$ |
143,439 |
|
144,206 |
|
Current liabilities |
|
$ |
9,916 |
|
9,875 |
|
Deferred income taxes |
|
|
18,227 |
|
18,108 |
|
Long-term debt |
|
|
83,882 |
|
81,744 |
|
Other liabilities |
|
|
4,233 |
|
4,198 |
|
Equity |
|
|
27,181 |
|
30,281 |
|
Total liabilities and shareholders’ equity |
|
$ |
143,439 |
|
144,206 |
|
Charter condensed consolidated statements of operations
|
|
|
|
|
|
Three months ended |
|
March 31, |
|
2021 |
|
2020 |
Revenue |
$ |
12,522 |
|
11,738 |
Cost and expenses: |
|
|
|
|
Operating costs and expenses (excluding depreciation and amortization) |
|
7,711 |
|
7,432 |
Depreciation and amortization |
|
2,441 |
|
2,497 |
Other operating expenses, net |
|
302 |
|
7 |
|
|
10,454 |
|
9,936 |
Operating income |
|
2,068 |
|
1,802 |
Interest expense, net |
|
(983) |
|
(980) |
Other income (expense), net |
|
52 |
|
(326) |
Income tax (expense) benefit |
|
(216) |
|
(29) |
Net income (loss) |
|
921 |
|
467 |
Less: Net income attributable to noncontrolling interests |
|
(114) |
|
(71) |
Net income (loss) attributable to Charter shareholders |
$ |
807 |
|
396 |
|