| Schedule of allocation of excess basis within memo accounts used for equity accounting purposes |
The excess basis in our investment in Charter of $8,981 million as of June 30, 2021 is allocated within memo accounts used for equity method accounting purposes as follows (amounts in millions):
|
|
|
|
|
|
|
|
|
June 30, |
|
December 31, |
|
|
|
2021 |
|
2020 |
Property and equipment |
|
$ |
706 |
|
733 |
Customer relationships |
|
|
2,649 |
|
2,726 |
Franchise fees |
|
|
3,784 |
|
3,693 |
Trademarks |
|
|
29 |
|
29 |
Goodwill |
|
|
4,039 |
|
3,934 |
Debt |
|
|
(584) |
|
(602) |
Deferred income tax liability |
|
|
(1,642) |
|
(1,641) |
|
|
$ |
8,981 |
|
8,872 |
|
| Summary of financial information for Charter |
Summarized unaudited financial information for Charter is as follows (amounts in millions):
Charter condensed consolidated balance sheets
|
|
|
|
|
|
|
|
|
June 30, 2021 |
|
December 31, 2020 |
|
Current assets |
|
$ |
4,682 |
|
3,909 |
|
Property and equipment, net |
|
|
34,206 |
|
34,357 |
|
Goodwill |
|
|
29,554 |
|
29,554 |
|
Intangible assets, net |
|
|
72,109 |
|
72,937 |
|
Other assets |
|
|
3,475 |
|
3,449 |
|
Total assets |
|
$ |
144,026 |
|
144,206 |
|
Current liabilities |
|
$ |
10,038 |
|
9,875 |
|
Deferred income taxes |
|
|
18,678 |
|
18,108 |
|
Long-term debt |
|
|
86,962 |
|
81,744 |
|
Other liabilities |
|
|
4,262 |
|
4,198 |
|
Equity |
|
|
24,086 |
|
30,281 |
|
Total liabilities and shareholders’ equity |
|
$ |
144,026 |
|
144,206 |
|
Charter condensed consolidated statements of operations
|
|
|
|
|
|
|
|
|
|
Three months ended |
|
Six months ended |
|
June 30, |
|
June 30, |
|
2021 |
|
2020 |
|
2021 |
|
2020 |
Revenue |
$ |
12,802 |
|
11,696 |
|
25,324 |
|
23,434 |
Cost and expenses: |
|
|
|
|
|
|
|
|
Operating costs and expenses (excluding depreciation and amortization) |
|
7,882 |
|
7,297 |
|
15,593 |
|
14,729 |
Depreciation and amortization |
|
2,354 |
|
2,428 |
|
4,795 |
|
4,925 |
Other operating expenses, net |
|
(9) |
|
2 |
|
293 |
|
9 |
|
|
10,227 |
|
9,727 |
|
20,681 |
|
19,663 |
Operating income |
|
2,575 |
|
1,969 |
|
4,643 |
|
3,771 |
Interest expense, net |
|
(1,004) |
|
(957) |
|
(1,987) |
|
(1,937) |
Other income (expense), net |
|
(132) |
|
30 |
|
(80) |
|
(296) |
Income tax (expense) benefit |
|
(281) |
|
(166) |
|
(497) |
|
(195) |
Net income (loss) |
|
1,158 |
|
876 |
|
2,079 |
|
1,343 |
Less: Net income attributable to noncontrolling interests |
|
(138) |
|
(110) |
|
(252) |
|
(181) |
Net income (loss) attributable to Charter shareholders |
$ |
1,020 |
|
766 |
|
1,827 |
|
1,162 |
|