Liberty Broadband Corporation Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Summary of Significant Accounting Policies (Tables)

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2023

Summary of Significant Accounting Policies

Summary of activity in the allowance for credit losses

A summary of activity in the allowance for credit losses for the years ended December 31, 2023, 2022 and 2021 is as follows (amounts in millions):


			Additions	Deductions
	Balance at		Charged to
	beginning of		costs and	Write-offs net	Balance at
	year		expenses	of recoveries	end of year
2023	$	4	5	(4)	5
2022	$	4	4	(4)	4
2021	$	—	4	—	4

Schedule of Net Property and Equipment


	December 31,
	2023		2022

	amounts in millions
Land	$	16	16
Buildings (25 years)		108	105
Telephony transmission equipment and distribution facilities (5-20 years)		832	810
Cable transmission equipment and distribution facilities (5-30 years)		118	108
Support equipment and systems (3-20 years)		112	106
Fiber optic cable systems (15-25 years)		128	73
Other (2-20 years)		72	52
Construction in progress		197	126
		1,583	1,396
Accumulated depreciation		(530)	(385)
Property and equipment, net	$	1,053	1,011

Reconciliation of Asset Retirement Obligations

Following is a reconciliation of the beginning and ending aggregate carrying amounts of the liability for asset retirement obligations (amounts in millions):


Balance at December 31, 2021	$	79
Liability incurred		—
Accretion expense		2
Liability settled		—
Balance at December 31, 2022		81
Liability incurred		1
Accretion expense		2
Liability settled		—
Balance at December 31, 2023	$	84

Revenue from Contracts with Customers by Customer Type and Service Offerings


	Years ended December 31,
	2023		2022	2021

	amounts in millions
GCI Holdings
Consumer Revenue
Data	$	233	231	214
Wireless		143	143	134
Other		41	55	86
Business Revenue
Data		424	392	364
Wireless		45	47	68
Other		18	24	27
Lease, grant, and revenue from subsidies		77	77	77
Total GCI Holdings		981	969	970
Corporate and other		—	6	18
Total	$	981	975	988

Schedule of Weighted Average Number of Shares


	Years ended December 31,
	2023	2022	2021

	number of shares in millions
Basic WASO	146	157	185
Potentially dilutive shares (1)	1	1	1
Diluted WASO	147	158	186

(1)

Potentially dilutive shares are excluded from the computation of diluted EPS during periods in which losses are reported since the result would be antidilutive.