| Schedule of Equity Method Investments and Summarized Financial Information |
The following table includes the Company’s carrying amount and percentage ownership of the more significant investments in affiliates at September 30, 2019 and the carrying amount at December 31, 2018:
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September 30, 2019 |
|
December 31, 2018 |
|
Percentage
ownership
|
|
Market
value
|
|
Carrying
amount
|
|
Carrying
amount
|
|
|
|
dollars in thousands |
LendingTree (a) |
26.6 |
% |
|
$ |
1,069,118 |
|
|
$ |
166,819 |
|
|
174,002 |
|
Other |
various |
|
|
NA |
|
|
2,020 |
|
|
3,028 |
|
|
|
|
|
|
$ |
168,839 |
|
|
177,030 |
|
|
|
|
|
|
|
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|
(a) Both the Company's ownership interest in LendingTree and the Company's share of LendingTree's earnings (losses) are reported on a three month lag. The market value disclosed is as of September 30, 2019. |
Summarized financial information for Liberty Broadband is as follows:
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September 30, |
|
December 31, |
|
|
2019 |
|
2018 |
|
|
amounts in thousands |
Current assets |
|
$ |
94,951 |
|
|
84,574 |
|
Investment in Charter, accounted for using the equity method |
|
12,067,329 |
|
|
12,004,376 |
|
Other assets |
|
9,767 |
|
|
9,487 |
|
Total assets |
|
12,172,047 |
|
|
12,098,437 |
|
Long-term debt |
|
572,619 |
|
|
522,928 |
|
Deferred income tax liabilities |
|
972,005 |
|
|
965,829 |
|
Other liabilities |
|
15,251 |
|
|
11,062 |
|
Equity |
|
10,612,172 |
|
|
10,598,618 |
|
Total liabilities and shareholders' equity |
|
$ |
12,172,047 |
|
|
12,098,437 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three months ended |
|
Nine months ended |
|
|
September 30, |
|
September 30, |
|
|
2019 |
|
2018 |
|
2019 |
|
2018 |
|
|
amounts in thousands |
Revenue |
|
$ |
3,713 |
|
|
3,518 |
|
|
10,918 |
|
|
18,680 |
|
Operating expenses, net |
|
(11,301 |
) |
|
(7,614 |
) |
|
(31,873 |
) |
|
(25,601 |
) |
Operating income (loss) |
|
(7,588 |
) |
|
(4,096 |
) |
|
(20,955 |
) |
|
(6,921 |
) |
Share of earnings (losses) of affiliates |
|
61,633 |
|
|
84,739 |
|
|
141,882 |
|
|
126,952 |
|
Gain (loss) on dilution of investment in affiliate |
|
(11,219 |
) |
|
(3,203 |
) |
|
(68,944 |
) |
|
(35,165 |
) |
Realized and unrealized gains (losses) on financial instruments, net |
|
(433 |
) |
|
5,678 |
|
|
(433 |
) |
|
3,659 |
|
Other income (expense), net |
|
(5,773 |
) |
|
(5,717 |
) |
|
(17,829 |
) |
|
(16,371 |
) |
Income tax benefit (expense) |
|
(9,124 |
) |
|
(17,762 |
) |
|
(8,474 |
) |
|
(17,005 |
) |
Net earnings (loss) |
|
$ |
27,496 |
|
|
59,639 |
|
|
25,247 |
|
|
55,149 |
|
|