| 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):
|
|
|
|
|
|
|
|
|
|
June 30, |
|
December 31, |
|
|
|
|
2024 |
|
2023 |
|
Property and equipment, net |
|
$ |
338 |
|
403 |
|
Customer relationships, net |
|
|
1,905 |
|
2,049 |
|
Franchise fees |
|
|
3,843 |
|
3,843 |
|
Trademarks |
|
|
29 |
|
29 |
|
Goodwill |
|
|
4,016 |
|
4,049 |
|
Debt |
|
|
(282) |
|
(317) |
|
Deferred income tax liability |
|
|
(1,458) |
|
(1,472) |
|
|
|
$ |
8,391 |
|
8,584 |
|
|
| Summary of financial information for Charter |
Charter condensed consolidated balance sheets
|
|
|
|
|
|
|
|
|
June 30, 2024 |
|
December 31, 2023 |
|
|
|
|
amounts in millions |
|
Current assets |
|
$ |
4,133 |
|
4,132 |
|
Property and equipment, net |
|
|
41,256 |
|
39,520 |
|
Goodwill |
|
|
29,668 |
|
29,668 |
|
Intangible assets, net |
|
|
68,763 |
|
69,141 |
|
Other assets |
|
|
4,791 |
|
4,732 |
|
Total assets |
|
$ |
148,611 |
|
147,193 |
|
Current liabilities |
|
$ |
10,726 |
|
13,214 |
|
Deferred income taxes |
|
|
18,927 |
|
18,954 |
|
Long-term debt |
|
|
96,692 |
|
95,777 |
|
Other liabilities |
|
|
5,552 |
|
4,530 |
|
Equity |
|
|
16,714 |
|
14,718 |
|
Total liabilities and shareholders’ equity |
|
$ |
148,611 |
|
147,193 |
|
Charter condensed consolidated statements of operations
|
|
|
|
|
|
|
|
|
|
|
|
|
Three months ended |
|
Six months ended |
|
|
|
June 30, |
|
June 30, |
|
|
|
2024 |
|
2023 |
|
2024 |
|
2023 |
|
|
|
|
amounts in millions |
|
Revenue |
|
$ |
13,685 |
|
13,659 |
|
27,364 |
|
27,312 |
|
Cost and expenses: |
|
|
|
|
|
|
|
|
|
|
Operating costs and expenses (excluding depreciation and amortization) |
|
|
8,173 |
|
8,305 |
|
16,569 |
|
16,816 |
|
Depreciation and amortization |
|
|
2,170 |
|
2,172 |
|
4,360 |
|
4,378 |
|
Other operating (income) expense, net |
|
|
79 |
|
(58) |
|
41 |
|
(48) |
|
|
|
|
10,422 |
|
10,419 |
|
20,970 |
|
21,146 |
|
Operating income |
|
|
3,263 |
|
3,240 |
|
6,394 |
|
6,166 |
|
Interest expense, net |
|
|
(1,328) |
|
(1,298) |
|
(2,644) |
|
(2,563) |
|
Other income (expense), net |
|
|
(85) |
|
(85) |
|
(174) |
|
(189) |
|
Income tax (expense) benefit |
|
|
(427) |
|
(444) |
|
(873) |
|
(818) |
|
Net income (loss) |
|
|
1,423 |
|
1,413 |
|
2,703 |
|
2,596 |
|
Less: Net income attributable to noncontrolling interests |
|
|
(192) |
|
(190) |
|
(366) |
|
(352) |
|
Net income (loss) attributable to Charter shareholders |
|
$ |
1,231 |
|
1,223 |
|
2,337 |
|
2,244 |
|
|