| Schedule of allocation of excess basis within memo accounts used for equity accounting purposes |
The excess basis in our investment in Charter of $5,167 million as of September 30, 2020 is allocated within memo accounts used for equity accounting purposes as follows (amounts in millions):
|
|
|
|
|
|
|
|
|
September 30, |
|
December 31, |
|
|
|
2020 |
|
2019 |
Property and equipment |
|
$ |
307 |
|
225 |
Customer relationships |
|
|
1,381 |
|
1,043 |
Franchise fees |
|
|
2,402 |
|
1,996 |
Trademarks |
|
|
29 |
|
29 |
Goodwill |
|
|
2,182 |
|
1,630 |
Debt |
|
|
(144) |
|
(9) |
Deferred income tax liability |
|
|
(990) |
|
(817) |
|
|
$ |
5,167 |
|
4,097 |
|
| Summary of financial information for Charter |
Summarized unaudited financial information for Charter is as follows (amounts in millions):
Charter condensed consolidated balance sheets
|
|
|
|
|
|
|
|
|
September 30, 2020 |
|
December 31, 2019 |
|
Current assets |
|
$ |
4,063 |
|
6,537 |
|
Property and equipment, net |
|
|
34,196 |
|
34,591 |
|
Goodwill |
|
|
29,554 |
|
29,554 |
|
Intangible assets, net |
|
|
73,372 |
|
74,775 |
|
Other assets |
|
|
3,008 |
|
2,731 |
|
Total assets |
|
$ |
144,193 |
|
148,188 |
|
Current liabilities |
|
|
10,256 |
|
12,385 |
|
Deferred income taxes |
|
|
17,929 |
|
17,711 |
|
Long-term debt |
|
|
77,947 |
|
75,578 |
|
Other liabilities |
|
|
4,349 |
|
3,703 |
|
Equity |
|
|
33,712 |
|
38,811 |
|
Total liabilities and shareholders’ equity |
|
$ |
144,193 |
|
148,188 |
|
Charter condensed consolidated statements of operations
|
|
|
|
|
|
|
|
|
|
Three months ended |
|
Nine months ended |
|
September 30, |
|
September 30, |
|
2020 |
|
2019 |
|
2020 |
|
2019 |
Revenue |
$ |
12,039 |
|
11,450 |
|
35,473 |
|
34,003 |
Cost and expenses: |
|
|
|
|
|
|
|
|
Operating costs and expenses (excluding depreciation and amortization) |
|
7,483 |
|
7,435 |
|
22,212 |
|
21,915 |
Depreciation and amortization |
|
2,370 |
|
2,415 |
|
7,295 |
|
7,465 |
Other operating (income) expenses, net |
|
14 |
|
14 |
|
23 |
|
71 |
|
|
9,867 |
|
9,864 |
|
29,530 |
|
29,451 |
Operating income |
|
2,172 |
|
1,586 |
|
5,943 |
|
4,552 |
Interest expense, net |
|
(946) |
|
(963) |
|
(2,883) |
|
(2,833) |
Other income (expense), net |
|
(117) |
|
(30) |
|
(413) |
|
(220) |
Income tax benefit (expense) |
|
(177) |
|
(126) |
|
(372) |
|
(329) |
Net income (loss) |
|
932 |
|
467 |
|
2,275 |
|
1,170 |
Less: Net income attributable to noncontrolling interests |
|
(118) |
|
(80) |
|
(299) |
|
(216) |
Net income (loss) attributable to Charter shareholders |
$ |
814 |
|
387 |
|
1,976 |
|
954 |
|