Quarterly report pursuant to Section 13 or 15(d)

Investment in Charter Accounted for Using the Equity Method (Tables)

v3.23.2
Investment in Charter Accounted for Using the Equity Method (Tables)
6 Months Ended
Jun. 30, 2023
Investment in Charter Accounted for Using the Equity Method  
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,

2023

2022

Property and equipment

    

$

468

524

Customer relationships

 

2,135

2,230

Franchise fees

 

3,843

3,809

Trademarks

 

29

29

Goodwill

 

4,024

3,975

Debt

 

(382)

(450)

Deferred income tax liability

 

(1,493)

(1,505)

$

8,624

8,612

Summary of financial information for Charter

Charter condensed consolidated balance sheets

    

June 30, 2023

December 31, 2022

 

amounts in millions

Current assets

$

3,929

4,017

Property and equipment, net

 

37,546

36,039

Goodwill

 

29,672

29,563

Intangible assets, net

 

69,618

70,135

Other assets

 

4,850

4,769

Total assets

$

145,615

144,523

Current liabilities

$

11,975

12,065

Deferred income taxes

 

18,982

19,058

Long-term debt

 

95,971

96,093

Other liabilities

 

4,660

4,758

Equity

 

14,027

12,549

Total liabilities and shareholders’ equity

$

145,615

144,523

Charter condensed consolidated statements of operations

Three months ended

Six months ended

 

June 30,

June 30,

2023

2022

2023

2022

 

amounts in millions

Revenue

$

13,659

13,598

27,312

26,798

Cost and expenses:

Operating costs and expenses (excluding depreciation and amortization)

 

8,305

8,193

16,816

16,327

Depreciation and amortization

 

2,172

2,240

4,378

4,534

Other operating (income) expenses, net

 

(58)

(62)

(48)

(61)

10,419

10,371

21,146

20,800

Operating income

3,240

3,227

6,166

5,998

Interest expense, net

 

(1,298)

(1,109)

(2,563)

(2,169)

Other income (expense), net

(85)

79

(189)

102

Income tax (expense) benefit

 

(444)

(489)

(818)

(834)

Net income (loss)

1,413

1,708

2,596

3,097

Less: Net income attributable to noncontrolling interests

(190)

(237)

(352)

(423)

Net income (loss) attributable to Charter shareholders

$

1,223

1,471

2,244

2,674