| Schedule of allocation of excess basis within memo accounts used for equity accounting purposes |
The excess basis in our investment in Charter of $4,430 million as of March 31, 2020 is allocated within memo accounts used for equity accounting purposes as follows (amounts in millions):
|
|
|
|
|
|
|
|
|
March 31, |
|
December 31, |
|
|
|
2020 |
|
2019 |
Property and equipment |
|
$ |
243 |
|
225 |
Customer relationships |
|
|
1,151 |
|
1,043 |
Franchise fees |
|
|
2,125 |
|
1,996 |
Trademarks |
|
|
29 |
|
29 |
Goodwill |
|
|
1,805 |
|
1,630 |
Debt |
|
|
(53) |
|
(9) |
Deferred income tax liability |
|
|
(870) |
|
(817) |
|
|
$ |
4,430 |
|
4,097 |
|
| Summary of financial information for Charter |
Summarized unaudited financial information for Charter is as follows (amounts in millions):
Charter condensed consolidated balance sheets
|
|
|
|
|
|
|
|
|
March 31, 2020 |
|
December 31, 2019 |
|
Current assets |
|
$ |
5,787 |
|
6,537 |
|
Property and equipment, net |
|
|
34,096 |
|
34,591 |
|
Goodwill |
|
|
29,554 |
|
29,554 |
|
Intangible assets, net |
|
|
74,277 |
|
74,775 |
|
Other assets |
|
|
2,838 |
|
2,731 |
|
Total assets |
|
$ |
146,552 |
|
148,188 |
|
Current liabilities |
|
|
13,215 |
|
12,385 |
|
Deferred income taxes |
|
|
17,665 |
|
17,711 |
|
Long-term debt |
|
|
74,787 |
|
75,578 |
|
Other liabilities |
|
|
4,163 |
|
3,703 |
|
Equity |
|
|
36,722 |
|
38,811 |
|
Total liabilities and shareholders’ equity |
|
$ |
146,552 |
|
148,188 |
|
Charter condensed consolidated statements of operations
|
|
|
|
|
|
Three months ended |
|
March 31, |
|
2020 |
|
2019 |
Revenue |
$ |
11,738 |
|
11,206 |
Cost and expenses: |
|
|
|
|
Operating costs and expenses (excluding depreciation and amortization) |
|
7,432 |
|
7,236 |
Depreciation and amortization |
|
2,497 |
|
2,550 |
Other operating (income) expenses, net |
|
7 |
|
(5) |
|
|
9,936 |
|
9,781 |
Operating income |
|
1,802 |
|
1,425 |
Interest expense, net |
|
(980) |
|
(925) |
Other income (expense), net |
|
(326) |
|
(64) |
Income tax benefit (expense) |
|
(29) |
|
(119) |
Net income (loss) |
|
467 |
|
317 |
Less: Net income attributable to noncontrolling interests |
|
(71) |
|
(64) |
Net income (loss) attributable to Charter shareholders |
$ |
396 |
|
253 |
|