Annual report pursuant to Section 13 and 15(d)

Assets and Liabilities Measured at Fair Value (Tables)

v3.10.0.1
Assets and Liabilities Measured at Fair Value (Tables)
 12 Months Ended
Dec. 31, 2018
Assets and Liabilities Measured at Fair Value  
Schedule of assets and liabilities measured at fair value

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2018

 

December 31, 2017

 

 

 

 

 

 

Quoted prices

 

Significant

 

 

 

Quoted prices

 

Significant

 

 

 

 

 

 

in active

 

other

 

 

 

in active

 

other

 

 

 

 

 

 

markets for

 

observable

 

 

 

markets for

 

observable

 

 

 

 

 

 

identical assets

 

inputs

 

 

 

identical assets

 

inputs

 

Description

 

Total

 

(Level 1)

 

(Level 2)

 

Total

 

(Level 1)

 

(Level 2)

 

 

 

amounts in thousands

 

Cash equivalents

 

$

67,329

 

67,329

 

 —

 

76,304

 

76,304

 

 —

 

 

Schedule of realized and unrealized gains (losses) on financial instruments

 

 

 

 

 

 

 

 

 

 

 

Years ended December 31,

 

 

 

2018

 

2017

 

2016

 

 

 

(amounts in thousands)

 

Time Warner Cable investment (1)

 

$

 —

 

 —

 

92,990

 

Derivative instruments (2)

 

 

3,659

 

3,098

 

1,132

 

 

 

$

3,659

 

3,098

 

94,122

 
 

(1)

As discussed in note 5, Time Warner Cable merged with Charter on May 18, 2016. Therefore the Company no longer has an investment in Time Warner Cable as of May 18, 2016, and the unrealized gain (loss) related to our investment in Time Warner Cable is recorded through this date. In connection with the merger, the Company exchanged, in a tax-free transaction, its shares of Time Warner Cable for shares of Charter Class A common stock.

(2)

During the year ended December 31, 2016, the Company entered into a zero-strike call option on Liberty Broadband Series C common stock and prepaid a premium of $47.9 million. During the year ended December 31, 2017, the Company entered into and settled additional zero-strike call options and paid an aggregate of $149.4 million and received an aggregate of $155.7 million from the counterparty. Additionally, in 2017, the Company physically settled one of the contracts (see note 8 in the accompanying notes to the consolidated financial statements for additional discussion). During the year ended December 31, 2018, the Company continued to enter into and settle zero-strike call options and paid an aggregate of $142.8 million and received an aggregate of $146.5 million from the counterparty. The Company had no outstanding zero-strike call options as of December 31, 2018 and 2017.