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, 2021

Summary of Significant Accounting Policies

Summary of activity in the allowance for credit losses

Allowance for credit losses was $4 million as of December 31, 2021 and was not material as of December 31, 2020. A summary of activity in the allowance for credit losses for the year ended December 31, 2021 is as follows (amounts in millions):


			Additions	Deductions
	Balance at		Charged to
	beginning of		costs and	Write-offs net	Balance at
Description	year		expenses	of recoveries	end of year
2021	$	—	4	—	4

Schedule of Net Property and Equipment


	December 31,
	2021		2020

	amounts in millions
Land	$	16	16
Buildings (25 years)		98	94
Telephony transmission equipment and distribution facilities (5-20 years)		705	667
Cable transmission equipment and distribution facilities (5-30 years)		94	84
Support equipment and systems (3-20 years)		97	86
Fiber optic cable systems (15-25 years)		69	68
Other (2-20 years)		40	33
Construction in progress		108	61
		1,227	1,109
Less accumulated depreciation		(196)	(10)
Property and equipment, net	$	1,031	1,099

Reconciliation of Asset Retirement Obligations

The asset retirement obligation is in Other liabilities in the consolidated balance sheets. 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, 2019	$	—
Liability acquired		76
Balance at December 31, 2020		76
Liability incurred		1
Accretion expense		3
Liability settled		(1)
Balance at December 31, 2021	$	79

Revenue from Contracts with Customers by Customer Type and Service Offerings


	Years ended December 31,
	2021		2020	2019

	amounts in millions
GCI Holdings
Consumer Revenue
Wireless	$	134	5	—
Data		214	7	—
Video		71	3	—
Voice		15	—	—
Business Revenue
Wireless		68	3	—
Data		364	12	—
Video		3	—	—
Voice		24	1	—
Lease, grant, and revenue from subsidies		77	3	—
Total GCI Holdings		970	34	—
Corporate and other		18	17	15
Total	$	988	51	15

Schedule of Weighted Average Number of Shares


	Years ended December 31,
	2021	2020	2019

	number of shares in thousands
Basic WASO	184,540	182,036	181,531
Potentially dilutive shares	1,693	1,210	1,253
Diluted WASO	186,233	183,246	182,784