| Schedule of allocation of excess basis within memo accounts used for equity accounting purposes |
The excess basis in our investment in Charter has increased to $3,159 million as of June 30, 2018 allocated within memo accounts used for equity accounting purposes as follows (amounts in millions):
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June 30,
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December 31,
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2018
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2017
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Property and equipment
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$
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349
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361
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Customer relationships
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712
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689
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Franchise fees
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1,753
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1,670
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Trademarks
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29
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29
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Goodwill
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1,104
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986
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Debt
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(103)
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(98)
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Deferred income tax liability
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(685)
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(662)
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$
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3,159
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2,975
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| Summary of financial information for Charter |
Summarized unaudited financial information for Charter is as follows (amounts in millions):
Charter condensed consolidated balance sheets
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June 30, 2018
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December 31, 2017
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Current assets
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$
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2,750
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2,555
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Property and equipment, net
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34,411
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33,888
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Goodwill
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29,554
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29,554
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Intangible assets, net
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78,029
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79,270
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Other assets
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1,507
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1,356
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Total assets
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$
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146,251
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146,623
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Current liabilities
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14,024
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11,090
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Deferred income taxes
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17,376
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17,314
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Long-term debt
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66,730
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68,186
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Other liabilities
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2,479
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2,502
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Equity
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45,642
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47,531
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Total liabilities and shareholders’ equity
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$
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146,251
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146,623
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Charter condensed consolidated statements of operations
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Three months ended
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Six months ended
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June 30,
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June 30,
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2018
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2017
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2018
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2017
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Revenue
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$
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10,854
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10,357
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21,511
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20,521
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Cost and expenses:
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Operating costs and expenses (excluding depreciation and amortization)
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(6,873)
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(6,575)
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(13,709)
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(13,154)
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Depreciation and amortization
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(2,592)
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(2,595)
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(5,302)
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(5,145)
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Other operating expenses, net
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(29)
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(135)
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(98)
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(229)
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(9,494)
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(9,305)
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(19,109)
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(18,528)
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Operating income
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1,360
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|
1,052
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2,402
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1,993
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Interest expense, net
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(878)
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(749)
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(1,729)
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(1,462)
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Other income (expense), net
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(102)
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(60)
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(42)
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(52)
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Income tax benefit (expense)
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(41)
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(48)
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(69)
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(73)
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Net income (loss)
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|
339
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|
195
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|
562
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|
406
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Less: Net income attributable to noncontrolling interests
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(66)
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(56)
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(121)
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(112)
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Net income (loss) attributable to Charter shareholders
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$
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273
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|
139
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|
441
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|
294
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