Liberty Broadband Corporation Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Leases (Tables)

Leases (Tables)

12 Months Ended

Dec. 31, 2022

Lease Expense and Supplemental Cash Flow Information


	Years ended December 31,
	2022		2021	2020

	amounts in millions
Operating lease cost (1)	$	59	60	3

Finance lease cost
Depreciation of leased assets	$	1	1	1
Total finance lease cost	$	1	1	1

(1)

Included within operating lease costs were short-term lease costs and variable lease costs, which were not material to the consolidated financial statements.


	December 31,
	2022		2021		2020
Weighted-average remaining lease term (years):
Finance leases	3.5		4.5		3.1
Operating leases	3.9		4.2		4.8
Weighted-average discount rate:
Finance leases	4.3	%	4.3	%	3.9	%
Operating leases	6.0	%	4.0	%	4.2	%


	Years ended December 31,
	2022		2021	2020

	amounts in millions
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflows from operating leases	$	57	55	3
Financing cash outflows from finance leases	$	1	2	—
ROU assets obtained in exchange for lease obligations
Operating leases	$	11	108	—

Supplemental Balance Sheet Information


	December 31,
	2022		2021

	amounts in millions
Operating leases:
Operating lease ROU assets, net (1)	$	114	154

Current operating lease liabilities (2)	$	45	50
Operating lease liabilities (3)		65	102
Total operating lease liabilities	$	110	152

Finance Leases:
Property and equipment, at cost	$	4	4
Accumulated depreciation		(1)	(1)
Property and equipment, net	$	3	3

Current obligations under finance leases (4)	$	1	1
Obligations under finance leases		2	2
Total finance lease liabilities	$	3	3

(1)

Operating lease ROU assets, net are included within the Other assets, net line item in the accompanying consolidated balance sheets.

(2)

Current operating lease liabilities are included within the Other current liabilities line item in the accompanying consolidated balance sheets.

(3)

Operating lease liabilities are included within the Other liabilities line item in the accompanying consolidated balance sheets.

(4)

Current obligations under finance leases are included within the Other current liabilities line item in the accompanying consolidated balance sheets.

Future Lease Payments on Finance Leases


	Finance Leases		Operating Leases	Tower Obligations

	amounts in millions
2023	$	1	47	8
2024		1	44	8
2025		1	9	8
2026		—	7	8
2027		—	4	8
Thereafter		—	14	100
Total payments		3	125	140
Less: imputed interest		—	15	54
Total liabilities	$	3	110	86

Schedule of aggregate minimum annual lease payments


	Finance Leases		Operating Leases	Tower Obligations

	amounts in millions
2023	$	1	47	8
2024		1	44	8
2025		1	9	8
2026		—	7	8
2027		—	4	8
Thereafter		—	14	100
Total payments		3	125	140
Less: imputed interest		—	15	54
Total liabilities	$	3	110	86

Future lease payments on Tower Obligations


	Finance Leases		Operating Leases	Tower Obligations

	amounts in millions
2023	$	1	47	8
2024		1	44	8
2025		1	9	8
2026		—	7	8
2027		—	4	8
Thereafter		—	14	100
Total payments		3	125	140
Less: imputed interest		—	15	54
Total liabilities	$	3	110	86