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

9 Months Ended

Sep. 30, 2024

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):

		September 30,	December 31,
		2024	2023
Property and equipment, net	$	307	403
Customer relationships, net		1,827	2,049
Franchise fees		3,843	3,843
Trademarks		29	29
Goodwill		3,934	4,049
Debt		(263)	(317)
Deferred income tax liability		(1,436)	(1,472)
	$	8,241	8,584

Summary of financial information for Charter

Charter condensed consolidated balance sheets

	September 30, 2024		December 31, 2023
	amounts in millions
Current assets	$	4,492	4,132
Property and equipment, net		41,846	39,520
Goodwill		29,668	29,668
Intangible assets, net		68,603	69,141
Other assets		4,762	4,732
Total assets	$	149,371	147,193
Current liabilities	$	13,160	13,214
Deferred income taxes		18,983	18,954
Long-term debt		93,517	95,777
Other liabilities		5,657	4,530
Equity		18,054	14,718
Total liabilities and shareholders’ equity	$	149,371	147,193

Charter condensed consolidated statements of operations

	Three months ended			Nine months ended
	September 30,			September 30,
	2024		2023	2024	2023
	amounts in millions
Revenue	$	13,795	13,584	41,159	40,896
Cost and expenses:
Operating costs and expenses (excluding depreciation and amortization)		8,294	8,299	24,863	25,115
Depreciation and amortization		2,145	2,130	6,505	6,508
Other operating (income) expense, net		21	29	62	(19)
		10,460	10,458	31,430	31,604
Operating income		3,335	3,126	9,729	9,292
Interest expense, net		(1,311)	(1,306)	(3,955)	(3,869)
Other income (expense), net		(144)	(15)	(318)	(204)
Income tax (expense) benefit		(406)	(369)	(1,279)	(1,187)
Net income (loss)		1,474	1,436	4,177	4,032
Less: Net income attributable to noncontrolling interests		(194)	(181)	(560)	(533)
Net income (loss) attributable to Charter shareholders	$	1,280	1,255	3,617	3,499