| Schedule of allocation of excess basis within memo accounts used for equity accounting purposes |
The excess basis in our investment in Charter has increased to $3,037 million as of March 31, 2018 allocated within memo accounts used for equity accounting purposes as follows (amounts in millions):
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March 31,
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December 31,
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2018
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2017
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Property and equipment
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$
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351
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361
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Customer relationships
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693
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689
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Franchise fees
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1,701
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1,670
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Trademarks
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29
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29
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Goodwill
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1,031
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986
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Debt
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(99)
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(98)
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Deferred income tax liability
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(669)
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(662)
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$
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3,037
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2,975
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| Summary of financial information for Charter |
Summarized unaudited financial information for Charter is as follows (amounts in millions):
Charter condensed consolidated balance sheets
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March 31, 2018
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December 31, 2017
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Current assets
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$
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2,398
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2,555
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Property and equipment, net
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34,002
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33,888
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Goodwill
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29,554
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29,554
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Intangible assets, net
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78,634
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79,270
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Other assets
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1,563
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1,356
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Total assets
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$
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146,151
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146,623
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Current liabilities
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11,602
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11,090
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Deferred income taxes
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17,351
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17,314
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Long-term debt
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67,609
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68,186
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Other liabilities
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2,464
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2,502
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Equity
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47,125
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47,531
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Total liabilities and shareholders’ equity
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$
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146,151
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146,623
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Charter condensed consolidated statements of operations
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Three months ended
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March 31,
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2018
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2017
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Revenue
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$
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10,657
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10,164
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Cost and expenses:
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Operating costs and expenses (excluding depreciation and amortization)
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(6,836)
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(6,579)
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Depreciation and amortization
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(2,710)
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(2,550)
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Other operating expenses, net
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(69)
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(94)
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(9,615)
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(9,223)
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Operating income
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1,042
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941
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Interest expense, net
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(851)
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(713)
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Other income (expense), net
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60
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|
8
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Income tax benefit (expense)
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(28)
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(25)
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Net income (loss)
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223
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211
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Less: Net income attributable to noncontrolling interests
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(55)
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(56)
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Net income (loss) attributable to Charter shareholders
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$
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168
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|
155
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