Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations

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Consolidated Statements of Operations - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Revenue:      
Revenue $ 975 $ 988 $ 51
Revenue, Product and Service [Extensible List] us-gaap:ServiceMember us-gaap:ServiceMember us-gaap:ServiceMember
Operating costs and expenses:      
Operating expense (exclusive of depreciation and amortization shown separately below) $ 253 $ 282 $ 20
Selling, general and administrative, including stock-based compensation and transaction costs (note 12) 432 442 76
Depreciation and amortization 262 267 15
Litigation settlement, net of recoveries (note 14) 67 95  
Total operating costs and expenses 1,014 1,086 111
Operating income (loss) (39) (98) (60)
Other income (expense):      
Interest expense (including amortization of deferred loan fees) (133) (117) (28)
Share of earnings (losses) of affiliate (note 6) 1,326 1,194 713
Gain (loss) on dilution of investment in affiliate (note 6) (63) (102) (184)
Realized and unrealized gains (losses) on financial instruments, net (note 5) 334 67 (83)
Gain (loss) on dispositions, net (note 1) 179 12  
Other, net (70) (6) 3
Earnings (loss) before income taxes 1,534 950 361
Income tax benefit (expense) (277) (218) 37
Net earnings (loss) 1,257 732 398
Net earnings (loss) attributable to Liberty Broadband shareholders $ 1,257 $ 732 $ 398
Basic net earnings (loss) attributable to Series A, Series B and Series C Liberty Broadband shareholders per common share (note 2) $ 8.01 $ 3.97 $ 2.18
Diluted net earnings (loss) attributable to Series A, Series B and Series C Liberty Broadband shareholders per common share (note 2) $ 7.96 $ 3.93 $ 2.17