Quarterly report pursuant to Section 13 or 15(d)

Investment in Charter Accounted for Using the Equity Method (Tables)

v3.23.1
Investment in Charter Accounted for Using the Equity Method (Tables)
3 Months Ended
Mar. 31, 2023
Investment in Charter Accounted for Using the Equity Method  
Schedule of allocation of excess basis within memo accounts used for equity accounting purposes

The excess basis in our investment in Charter is allocated within memo accounts used for equity method accounting purposes as follows (amounts in millions):

March 31,

December 31,

2023

2022

Property and equipment

    

$

499

524

Customer relationships

 

2,200

2,230

Franchise fees

 

3,838

3,809

Trademarks

 

29

29

Goodwill

 

4,013

3,975

Debt

 

(407)

(450)

Deferred income tax liability

 

(1,509)

(1,505)

$

8,663

8,612

Summary of financial information for Charter

Charter condensed consolidated balance sheets

    

March 31, 2023

December 31, 2022

 

amounts in millions

Current assets

$

4,067

4,017

Property and equipment, net

 

36,602

36,039

Goodwill

 

29,563

29,563

Intangible assets, net

 

69,845

70,135

Other assets

 

4,793

4,769

Total assets

$

144,870

144,523

Current liabilities

$

12,242

12,065

Deferred income taxes

 

19,030

19,058

Long-term debt

 

95,973

96,093

Other liabilities

 

4,723

4,758

Equity

 

12,902

12,549

Total liabilities and shareholders’ equity

$

144,870

144,523

Charter condensed consolidated statements of operations

Three months ended

 

March 31,

2023

2022

 

amounts in millions

Revenue

$

13,653

13,200

Cost and expenses:

Operating costs and expenses (excluding depreciation and amortization)

 

8,511

8,134

Depreciation and amortization

 

2,206

2,294

Other operating expenses, net

 

10

1

10,727

10,429

Operating income

2,926

2,771

Interest expense, net

 

(1,265)

(1,060)

Other income (expense), net

(104)

23

Income tax (expense) benefit

 

(374)

(345)

Net income (loss)

1,183

1,389

Less: Net income attributable to noncontrolling interests

(162)

(186)

Net income (loss) attributable to Charter shareholders

$

1,021

1,203