| 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): | | | | | | | | | | June 30, | | December 31, | | | | | 2025 | | 2024 | | Property and equipment, net | | $ | 230 | | 280 | | Customer relationships, net | | | 1,716 | | 1,751 | | Franchise fees | | | 3,843 | | 3,843 | | Trademarks | | | 29 | | 29 | | Goodwill | | | 3,661 | | 3,845 | | Debt | | | (166) | | (251) | | Deferred income tax liability | | | (1,413) | | (1,413) | | | | $ | 7,900 | | 8,084 | |
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| Summary of financial information for Charter |
Charter condensed consolidated balance sheets | | | | | | | | | June 30, 2025 | | December 31, 2024 | | | | | amounts in millions | | Current assets | | $ | 4,812 | | 4,233 | | Property and equipment, net | | | 44,187 | | 42,913 | | Goodwill | | | 29,674 | | 29,674 | | Intangible assets, net | | | 68,140 | | 68,437 | | Other assets | | | 4,776 | | 4,763 | | Total assets | | $ | 151,589 | | 150,020 | | Current liabilities | | $ | 14,556 | | 13,486 | | Deferred income taxes | | | 18,757 | | 18,845 | | Long-term debt | | | 91,863 | | 92,134 | | Other liabilities | | | 6,045 | | 5,848 | | Equity | | | 20,368 | | 19,707 | | Total liabilities and shareholders’ equity | | $ | 151,589 | | 150,020 | |
Charter condensed consolidated statements of operations | | | | | | | | | | | | | Three months ended | | Six months ended | | | | June 30, | | June 30, | | | | 2025 | | 2024 | | 2025 | | 2024 | | | | | amounts in millions | | Revenue | | $ | 13,766 | | 13,685 | | 27,501 | | 27,364 | | Cost and expenses: | | | | | | | | | | | Operating costs and expenses (excluding depreciation and amortization) | | | 8,230 | | 8,173 | | 16,424 | | 16,569 | | Depreciation and amortization | | | 2,176 | | 2,170 | | 4,357 | | 4,360 | | Other operating (income) expense, net | | | 81 | | 79 | | 204 | | 41 | | | | | 10,487 | | 10,422 | | 20,985 | | 20,970 | | Operating income | | | 3,279 | | 3,263 | | 6,516 | | 6,394 | | Interest expense, net | | | (1,263) | | (1,328) | | (2,504) | | (2,644) | | Other income (expense), net | | | (107) | | (85) | | (249) | | (174) | | Income tax (expense) benefit | | | (414) | | (427) | | (859) | | (873) | | Net income (loss) | | | 1,495 | | 1,423 | | 2,904 | | 2,703 | | Less: Net income attributable to noncontrolling interests | | | (194) | | (192) | | (386) | | (366) | | Net income (loss) attributable to Charter shareholders | | $ | 1,301 | | 1,231 | | 2,518 | | 2,337 | |
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