| 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 $3,213 million as of September 30, 2018 allocated within memo accounts used for equity accounting purposes as follows (amounts in millions):
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September 30,
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December 31,
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2018
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2017
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Property and equipment
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$
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336
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361
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Customer relationships
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713
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689
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Franchise fees
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1,782
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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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1,145
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986
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Debt
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(103)
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(98)
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Deferred income tax liability
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(689)
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(662)
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$
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3,213
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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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September 30, 2018
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December 31, 2017
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Current assets
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$
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2,777
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2,555
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Property and equipment, net
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34,740
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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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77,455
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79,270
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Other assets
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1,559
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1,356
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Total assets
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$
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146,085
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146,623
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Current liabilities
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11,850
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11,090
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Deferred income taxes
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17,421
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17,314
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Long-term debt
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69,135
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68,186
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Other liabilities
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2,451
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2,502
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Equity
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45,228
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47,531
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Total liabilities and shareholders’ equity
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$
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146,085
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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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Nine months ended
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September 30,
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September 30,
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2018
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2017
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2018
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2017
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Revenue
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$
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10,892
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10,458
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32,403
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30,979
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Cost and expenses:
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Operating costs and expenses (excluding depreciation and amortization)
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(7,012)
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(6,703)
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(20,721)
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(19,857)
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Depreciation and amortization
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(2,482)
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(2,701)
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(7,784)
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(7,846)
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Other operating expenses, net
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(18)
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(145)
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(116)
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(374)
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(9,512)
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(9,549)
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(28,621)
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(28,077)
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Operating income
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1,380
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|
909
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3,782
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2,902
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Interest expense, net
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(901)
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(788)
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(2,630)
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(2,250)
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Other income (expense), net
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214
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(3)
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|
172
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(55)
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Income tax benefit (expense)
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(109)
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(26)
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(178)
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(99)
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Net income (loss)
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584
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|
92
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1,146
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|
498
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Less: Net income attributable to noncontrolling interests
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(91)
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(44)
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(212)
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(156)
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Net income (loss) attributable to Charter shareholders
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$
|
493
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|
48
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|
934
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|
342
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