| Schedule of allocation of excess basis within memo accounts used for equity accounting purposes |
The excess basis in our investment in Charter of $9,115 million as of September 30, 2021 is allocated within memo accounts used for equity method accounting purposes as follows (amounts in millions):
|
|
|
|
|
|
|
|
|
September 30, |
|
December 31, |
|
|
|
2021 |
|
2020 |
Property and equipment |
|
$ |
709 |
|
733 |
Customer relationships |
|
|
2,638 |
|
2,726 |
Franchise fees |
|
|
3,867 |
|
3,693 |
Trademarks |
|
|
29 |
|
29 |
Goodwill |
|
|
4,113 |
|
3,934 |
Debt |
|
|
(578) |
|
(602) |
Deferred income tax liability |
|
|
(1,663) |
|
(1,641) |
|
|
$ |
9,115 |
|
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
|
|
|
|
|
|
|
|
|
September 30, 2021 |
|
December 31, 2020 |
|
Current assets |
|
$ |
3,498 |
|
3,909 |
|
Property and equipment, net |
|
|
34,179 |
|
34,357 |
|
Goodwill |
|
|
29,554 |
|
29,554 |
|
Intangible assets, net |
|
|
71,741 |
|
72,937 |
|
Other assets |
|
|
3,523 |
|
3,449 |
|
Total assets |
|
$ |
142,495 |
|
144,206 |
|
Current liabilities |
|
$ |
12,237 |
|
9,875 |
|
Deferred income taxes |
|
|
18,980 |
|
18,108 |
|
Long-term debt |
|
|
85,376 |
|
81,744 |
|
Other liabilities |
|
|
4,376 |
|
4,198 |
|
Equity |
|
|
21,526 |
|
30,281 |
|
Total liabilities and shareholders’ equity |
|
$ |
142,495 |
|
144,206 |
|
Charter condensed consolidated statements of operations
|
|
|
|
|
|
|
|
|
|
Three months ended |
|
Nine months ended |
|
September 30, |
|
September 30, |
|
2021 |
|
2020 |
|
2021 |
|
2020 |
Revenue |
$ |
13,146 |
|
12,039 |
|
38,470 |
|
35,473 |
Cost and expenses: |
|
|
|
|
|
|
|
|
Operating costs and expenses (excluding depreciation and amortization) |
|
7,958 |
|
7,483 |
|
23,551 |
|
22,212 |
Depreciation and amortization |
|
2,270 |
|
2,370 |
|
7,065 |
|
7,295 |
Other operating expenses, net |
|
(9) |
|
14 |
|
284 |
|
23 |
|
|
10,219 |
|
9,867 |
|
30,900 |
|
29,530 |
Operating income |
|
2,927 |
|
2,172 |
|
7,570 |
|
5,943 |
Interest expense, net |
|
(1,016) |
|
(946) |
|
(3,003) |
|
(2,883) |
Other income (expense), net |
|
(157) |
|
(117) |
|
(237) |
|
(413) |
Income tax (expense) benefit |
|
(347) |
|
(177) |
|
(844) |
|
(372) |
Net income (loss) |
|
1,407 |
|
932 |
|
3,486 |
|
2,275 |
Less: Net income attributable to noncontrolling interests |
|
(190) |
|
(118) |
|
(442) |
|
(299) |
Net income (loss) attributable to Charter shareholders |
$ |
1,217 |
|
814 |
|
3,044 |
|
1,976 |
|