Liberty Broadband (LBRDK) 10-Q 1 Nov 18 2018 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2018	Oct. 15, 2018
Entity Registrant Name	Liberty Broadband Corp
Entity Central Index Key	1,611,983
Document Type	10-Q
Document Period End Date	Sep. 30, 2018
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q3
Series A common stock
Entity Common Stock, Shares Outstanding		26,309,573
Series B common stock
Entity Common Stock, Shares Outstanding		2,454,943
Series C common stock
Entity Common Stock, Shares Outstanding		152,588,667

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Current assets:
Cash and cash equivalents	$ 43,268	$ 81,257
Derivative instruments	50,000
Other current assets	2,210	2,797
Total current assets	95,478	84,054
Investment in Charter, accounted for using the equity method	11,977,368	11,835,613
Other tangible and intangible assets, net	9,779	12,073
Other assets	49	49
Total assets	12,082,674	11,931,789
Current liabilities:
Accounts payable and accrued liabilities	3,091	5,381
Deferred revenue and other current liabilities	6,908	5,168
Total current liabilities	9,999	10,549
Debt	522,617	497,370
Deferred income tax liabilities	961,835	932,593
Other liabilities	2,928	4,376
Total liabilities	1,497,379	1,444,888
Equity
Additional paid-in capital	7,939,838	7,907,900
Accumulated other comprehensive earnings, net of taxes	7,778	8,424
Retained earnings	2,635,865	2,568,764
Total equity	10,585,295	10,486,901
Commitments and contingencies
Total liabilities and equity	12,082,674	11,931,789
Preferred Stock
Equity
Preferred stock
Series A common stock
Equity
Common stock	263	262
Total equity	263	262
Series B common stock
Equity
Common stock	25	25
Total equity	25	25
Series C common stock
Equity
Common stock	1,526	1,526
Total equity	$ 1,526	$ 1,526

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2018	Dec. 31, 2017
Preferred Stock
Preferred stock par value	$ 0.01	$ 0.01
Preferred stock shares authorized	50,000,000	50,000,000
Preferred shares issued	0	0
Series A common stock
Common stock par value	$ 0.01	$ 0.01
Common stock shares authorized	500,000,000	500,000,000
Common Stock, Shares, Issued	26,309,358	26,301,755
Common Stock, Shares, Outstanding	26,309,358	26,301,755
Series B common stock
Common stock par value	$ 0.01	$ 0.01
Common stock shares authorized	18,750,000	18,750,000
Common Stock, Shares, Issued	2,454,943	2,455,179
Common Stock, Shares, Outstanding	2,454,943	2,455,179
Series C common stock
Common stock par value	$ 0.01	$ 0.01
Common stock shares authorized	500,000,000	500,000,000
Common Stock, Shares, Issued	152,588,232	152,563,229
Common Stock, Shares, Outstanding	152,588,232	152,563,229

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Revenue:
Revenue	$ 3,518	$ 3,430	$ 18,680	$ 9,643
Operating costs and expenses
Operating, including stock-based compensation	505	646	1,472	1,968
Selling, general and administrative, including stock-based compensation	5,187	6,189	17,428	18,099
Research and development, including stock-based compensation	1,421	1,440	4,392	6,214
Depreciation and amortization	501	942	2,309	2,844
Total operating costs and expenses	7,614	9,217	25,601	29,125
Operating income (loss)	(4,096)	(5,787)	(6,921)	(19,482)
Other income (expense):
Interest expense	(5,967)	(5,518)	(17,039)	(14,899)
Dividend and interest income	167	422	585	1,219
Share of earnings (losses) of affiliates	84,739	(5,280)	126,952	25,109
Gain (loss) on dilution of investment in affiliate	(3,203)	(3,718)	(35,165)	(42,515)
Realized and unrealized gains (losses) on financial instruments, net	5,678	2,675	3,659	5,026
Other, net	83	9	83	11
Net earnings (loss) before income taxes	77,401	(17,197)	72,154	(45,531)
Income tax benefit (expense)	(17,762)	7,333	(17,005)	18,245
Net earnings (loss) attributable to Liberty Broadband shareholders	$ 59,639	$ (9,864)	$ 55,149	$ (27,286)
Basic net earnings (loss) attributable to Series A, Series B and Series C Liberty Broadband shareholders per common share	$ 0.33	$ (0.05)	$ 0.30	$ (0.15)
Diluted net earnings (loss) attributable to Series A, Series B and Series C Liberty Broadband shareholders per common share	$ 0.33	$ (0.05)	$ 0.30	$ (0.15)
Software sales
Revenue:
Revenue	$ 3,518	$ 3,070	$ 18,680	$ 8,996
Service
Revenue:
Revenue		$ 360		$ 647

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Earnings (Loss) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Condensed Consolidated Statements of Comprehensive Earnings (Loss)
Net earnings (loss)	$ 59,639	$ (9,864)	$ 55,149	$ (27,286)
Other comprehensive earnings (loss), net of taxes:
Share of other comprehensive earnings (loss) of equity affiliate and other	(474)	260	(646)	634
Other comprehensive earnings (loss), net of taxes	(474)	260	(646)	634
Comprehensive earnings (loss) attributable to Liberty Broadband shareholders	$ 59,165	$ (9,604)	$ 54,503	$ (26,652)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Cash flows from operating activities:
Net earnings (loss)			$ 55,149	$ (27,286)
Adjustments to reconcile net earnings (loss) to net cash provided by operating activities:
Depreciation and amortization	$ 501	$ 942	2,309	2,844
Stock-based compensation			4,198	4,376
Share of (earnings) losses of affiliate, net	(84,739)	5,280	(126,952)	(25,109)
(Gain) loss on dilution of investment in affiliate	3,203	3,718	35,165	42,515
Realized and unrealized (gains) losses on financial instruments, net	(5,678)	(2,675)	(3,659)	(5,026)
Deferred income tax expense (benefit)			16,650	(18,259)
Other, net			1,183	1,080
Changes in operating assets and liabilities:
Current and other assets			861	(1,455)
Payables and other liabilities			(983)	2,724
Net cash provided (used) by operating activities			(16,079)	(23,596)
Cash flows from investing activities:
Capital expended for property and equipment			(35)	(27)
Other investing activities, net				14
Net cash provided (used) by investing activities			(35)	(13)
Cash flows from financing activities:
Borrowings of debt			158,000	500,000
Repayments of debt			(133,000)	(600,000)
Payments from issuances of financial instruments			(142,824)	(101,638)
Proceeds from settlements of financial instruments			96,483	155,683
Other financing activities, net			(534)	(739)
Net cash provided (used) by financing activities			(21,875)	(46,694)
Net increase (decrease) in cash			(37,989)	(70,303)
Cash, cash equivalents and restricted cash beginning of period			81,257	205,728
Cash, cash equivalents and restricted cash end of period	$ 43,268	$ 135,425	$ 43,268	$ 135,425

Condensed Consolidated Statem_4

Condensed Consolidated Statement of Equity - 9 months ended Sep. 30, 2018 - USD ($) $ in Thousands	Series A common stock	Series B common stock	Series C common stock	Additional Paid In Capital	Accumulated other comprehensive earnings	Retained earnings	Total
Balance at Dec. 31, 2017	$ 262	$ 25	$ 1,526	$ 7,907,900	$ 8,424	$ 2,568,764	$ 10,486,901
Increase (Decrease) in Stockholders' Equity
Net earnings (loss)						55,149	55,149
Other comprehensive earnings (loss)					(646)		(646)
Stock-based compensation				4,055			4,055
Issuance of common stock upon exercise of stock options	1			715			716
Noncontrolling interest activity at Charter				27,168			27,168
Balance at Sep. 30, 2018	$ 263	$ 25	$ 1,526	$ 7,939,838	$ 7,778	2,635,865	10,585,295
Increase (Decrease) in Stockholders' Equity
Cumulative effect of accounting change | ASU 2014-09						1,223	1,223
Cumulative effect of accounting change						$ 10,729	$ 10,729

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2018
Basis of Presentation
Basis of Presentation	(1) Basis of Presentation During May 2014, the board of directors of Liberty Media Corporation and its subsidiaries (“Liberty”) authorized management to pursue a plan to spin-off to its stockholders common stock of a wholly-owned subsidiary, Liberty Broadband Corporation (“Liberty Broadband” or the “Company”), and to distribute subscription rights to acquire shares of Liberty Broadband’s common stock (the “Broadband Spin-Off”). At the time of the Broadband Spin-Off, Liberty Broadband was comprised of (i) Liberty’s former interest in Charter Communications, Inc. (“Legacy Charter”), (ii) Liberty’s former wholly-owned subsidiary TruePosition, Inc., (iii) Liberty’s former minority equity investment in Time Warner Cable, Inc. (“Time Warner Cable”), (iv) certain deferred tax liabilities, as well as liabilities related to the Time Warner Cable written call options and (v) initial indebtedness, pursuant to margin loans entered into prior to the completion of the Broadband Spin-Off. These financial statements refer to the combination of the aforementioned subsidiary, investments, and financial instruments as “Liberty Broadband,” “the Company,” “us,” “we” and “our” in the notes to the condensed consolidated financial statements. On May 18, 2016, Time Warner Cable merged with Legacy Charter (the “Time Warner Cable Merger”). In connection with the Time Warner Cable Merger, Legacy Charter underwent a corporate reorganization, resulting in CCH I, LLC (“Charter”), a former subsidiary of Legacy Charter, becoming the new publicly traded parent company. Also on May 18, 2016, the previously announced acquisition of Bright House Networks, LLC from Advance/Newhouse Partnership (“A/N”) by Charter (the “Bright House Transaction”) was completed. In connection with the Time Warner Cable Merger and Bright House Transaction, Liberty Broadband entered into certain agreements with Legacy Charter, Charter (for accounting purposes a related party of the Company), Liberty Interactive Corporation, now known as Qurate Retail, Inc. (“Qurate Retail”) effective April 9, 2018, and Time Warner Cable. As a result of the Time Warner Cable Merger and Bright House Transaction (collectively, the “Transactions”), Liberty Broadband exchanged its shares of Time Warner Cable for shares of Charter and purchased additional shares of Charter. As a result, and pursuant to proxy agreements with GCI Liberty, Inc. (“GCI Liberty”) and A/N, Liberty Broadband controls 25.01% of the aggregate voting power of Charter. See note 5 for additional detail regarding these transactions and corresponding agreements. The Company’s wholly owned subsidiary, Skyhook Holding, Inc. (“Skyhook”), focuses on the development and sale of Skyhook’s device-based location technology. Skyhook markets and sells two primary products: (1) a location determination service called the Precision Location Solution; and (2) a location intelligence and data insights service called Geospatial Insights. The accompanying (a) condensed consolidated balance sheet as of December 31, 2017, which has been derived from audited financial statements, and (b) interim unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“GAAP”) for interim financial information and the instructions to Form 10-Q and Article 10 of Regulation S-X as promulgated by the Securities and Exchange Commission. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation of the results for such periods have been included. The results of operations for any interim period are not necessarily indicative of results for the full year. Additionally, certain prior period amounts have been reclassified for comparability with current period presentation. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto contained in Liberty Broadband's Annual Report on Form 10-K for the year ended December 31, 2017. All significant intercompany accounts and transactions have been eliminated in the condensed consolidated financial statements. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. The Company considers the application of the equity method of accounting for investments in affiliates and accounting for income taxes to be its most significant estimates . Liberty Broadband holds an investment in Charter that is accounted for using the equity method. Liberty Broadband does not control the decision making process or business management practices of this affiliate. Accordingly, Liberty Broadband relies on the management of this affiliate to provide it with accurate financial information prepared in accordance with GAAP that the Company uses in the application of the equity method. In addition, Liberty Broadband relies on audit reports that are provided by the affiliate's independent auditor on the financial statements of such affiliate. The Company is not aware, however, of any errors in or possible misstatements of the financial information provided by its equity affiliate that would have a material effect on Liberty Broadband's condensed consolidated financial statements. The Tax Cuts and Jobs Act (the “Tax Act”) was enacted in December 2017. The Tax Act significantly changed U.S. tax law by, among other things, lowering U.S. corporate income tax rate and implementing a territorial tax system. In the prior year, we recognized the provisional tax impacts related to the revaluation of deferred tax balances and included these estimates in our consolidated financial statements for the year ended December 31, 2017. We are still in the process of analyzing the impact of the various provisions of the Tax Act. The ultimate impact may materially differ from these provisional amounts due to, among other things, continued analysis of the estimates and further guidance and interpretations on the application of the law. We expect to complete our analysis by December 2018. Spin-Off Arrangements Following the Broadband Spin-Off, Liberty and Liberty Broadband operate as separate, publicly traded companies, and neither has any stock ownership, beneficial or otherwise, in the other. In connection with the Broadband Spin-Off, Liberty (for accounting purposes a related party of the Company) and Liberty Broadband entered into certain agreements in order to govern certain of the ongoing relationships between the two companies after the Broadband Spin-Off and to provide for an orderly transition. These agreements include a reorganization agreement, a services agreement, a facilities sharing agreement and a tax sharing agreement. The reorganization agreement provides for, among other things, the principal corporate transactions (including the internal restructuring) required to effect the Broadband Spin-Off, certain conditions to the Broadband Spin-Off and provisions governing the relationship between Liberty Broadband and Liberty with respect to and resulting from the Broadband Spin-Off. The tax sharing agreement provides for the allocation and indemnification of tax liabilities and benefits between Liberty and Liberty Broadband and other agreements related to tax matters. Pursuant to the tax sharing agreement, Liberty Broadband has agreed to indemnify Liberty, subject to certain limited exceptions, for losses and taxes resulting from the Broadband Spin-Off to the extent such losses or taxes result primarily from, individually or in the aggregate, the breach of certain restrictive covenants made by Liberty Broadband (applicable to actions or failures to act by Liberty Broadband and its subsidiaries following the completion of the Broadband Spin-Off). Pursuant to the services agreement, Liberty provides Liberty Broadband with general and administrative services including legal, tax, accounting, treasury and investor relations support. Under the facilities sharing agreement, Liberty Broadband shares office space with Liberty and related amenities at Liberty’s corporate headquarters. Liberty Broadband will reimburse Liberty for direct, out-of-pocket expenses incurred by Liberty in providing these services which will be negotiated semi-annually. Under these various agreements, approximately $818 thousand and $814 thousand was reimbursable to Liberty for the three months ended September 30, 2018 and 2017, respectively, and $2.6 million was reimbursable to Liberty for both the nine months ended September 30, 2018 and 2017.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	9 Months Ended
	Sep. 30, 2018
Recent Accounting Pronouncements
Recent Accounting Pronouncements	(2) Recent Accounting Pronouncements Accounting Standards Adopted January 1, 2018 Revenue from Contracts with Customers. As of January 1, 2018, the Company adopted the Accounting Standards Updates (“ASU”) amending revenue recognition guidance using the modified retrospective method for all contracts reflecting the aggregate effect of modifications prior to the date of adoption. Results for reporting periods beginning after January 1, 2018 are presented under the new guidance, while prior period amounts were not adjusted and continue to be reported under the accounting standards in effect for those periods. Upon adoption, we recognized a net cumulative effect of applying the new revenue guidance as a net increase to the opening balance of retained earnings of $1.2 million, as well as an increase to other current assets of $0.3 million, an increase to deferred income tax liabilities of $0.4 million and a decrease to deferred revenue and other current liabilities of $1.3 million, primarily due to changes in the timing of revenue recognition. The impact of the new accounting guidance to our condensed consolidated statement of operations was not meaningful for the three and nine months ended September 30, 2018, and we do not expect it to be meaningful going forward. Revenue Recognition Skyhook earns revenue from the sale and integration of its Precision Location Solution (including the licensing of software and data components that make up that solution) and the licensing of Geospatial Insights data. In addition, Skyhook earns revenue through entering into licensing agreements with companies to utilize its underlying intellectual property. Revenue is recognized upon transfer of control of promised products or services to its customers in an amount that reflects the consideration expected to be received in exchange for those products and services. Skyhook sells its Precision Location Solution and Geospatial Insights data via fixed fee, usage basis or revenue share licensing arrangements. Revenue for fixed fee arrangements is recognized on a straight-line basis over the performance period. Revenue for usage based contracts or revenue share arrangements is recognized upon transfer of the service to its customers. Contracts with customers often include multiple products and services, which in general are not distinct within the context of the contract. Transaction prices of individual products and services are not allocated to specific performance obligations and are recognized ratably. Skyhook recognizes fees received from intellectual property licensing at the inception of a license term for perpetual licenses when there are no ongoing performance obligations. Revenue recognition is deferred when there are ongoing performance obligations. In such circumstances, revenue would be allocated to the performance obligation and recognized upon the transfer of control of the promised product or service. Deferred Revenue. At January 1, 2018, deferred revenue liabilities consisted of $4.5 million and $2.3 million, included in deferred revenue and other current liabilities, and other liabilities, respectively. Of this $6.8 million that was recorded as deferred revenue, $4.0 million was recognized as revenue during the nine months ended September 30, 2018. At September 30, 2018, the related balance consisted of $6.5 million and $2.2 million, included in deferred revenue and other current liabilities, and other liabilities, respectively. Of this $8.7 million that was recorded as deferred revenue, we expect to recognize approximately 87% over the next one to three years. Accounting Policies Elected. The Company has elected to exclude all taxes assessed by a governmental authority from the measurement of the transaction price. Practical Expedients Utilized. The Company has elected to apply the new revenue guidance only to those contracts that were not completed contracts as of December 31, 2017 and considered contract modifications that occurred prior to January 1, 2018 as combined with the original contract. Subsequent to January 1, 2018, the Company will consider each modification separately in accordance with the new guidance. Significant Judgments. The Company estimates variable consideration at the most likely amount to which we expect to be entitled. The estimate of variable consideration and determination of whether to include estimated amounts in the transaction price are based largely on an assessment of our anticipated performance and all historical, current and forecast information that is reasonably available to us. Definition of a Business. As of January 1, 2018, the Company adopted the new guidance clarifying the definition of a business for determining whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. Upon adoption, the standard impacts how the Company assesses acquisitions (or disposals) of assets or businesses. The new accounting guidance had no material impact to our condensed consolidated financial statements for the three and nine months ended September 30, 2018, and we do not expect it to be meaningful going forward. Accounting Standards Not Yet Adopted Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income. In February 2018, the Financial Accounting Standards Board (“FASB”) issued new guidance that allows an entity to elect to reclassify “stranded” tax effects in AOCI to retained earnings to address concerns related to accounting for certain provisions of the Tax Cuts and Jobs Act ("the Tax Act") enacted in December 2017. The guidance is effective for annual and interim reporting periods beginning after December 15, 2018, with early adoption permitted. We are currently evaluating the impact of the adoption of this new guidance on our consolidated financial statements.

Earnings (loss) per Share

Earnings (loss) per Share	9 Months Ended
	Sep. 30, 2018
Earnings (loss) per Share
Earnings (loss) per Share	(3) Earnings (Loss) per Share Basic earnings (loss) per common share (“EPS”) is computed by dividing net earnings (loss) attributable to Liberty Broadband shareholders by the weighted average number of common shares outstanding (“WASO”) for the period. Diluted EPS presents the dilutive effect on a per share basis of potential common shares as if they had been converted at the beginning of the periods presented. The basic and diluted EPS calculations are based on the following weighted average number of shares of outstanding common stock. Liberty Broadband Common Stock Three months Three months Nine months Nine months ended ended ended ended September 30, 2018 September 30, 2017 September 30, 2018 September 30, 2017 (numbers of shares in thousands) Basic WASO 181,328 181,846 181,322 181,795 Potentially dilutive shares (1) 1,244 1,485 1,264 1,369 Diluted WASO 182,572 183,331 182,586 183,164 (1) Potentially dilutive shares are excluded from the computation of diluted EPS during periods in which losses are reported since the result would be antidilutive.

Assets and Liabilities Measured

Assets and Liabilities Measured at Fair Value	9 Months Ended
	Sep. 30, 2018
Assets and Liabilities Measured at Fair Value
Assets and Liabilities Measured at Fair Value	(4) Assets and Liabilities Measured at Fair Value For assets and liabilities required to be reported at fair value, GAAP provides a hierarchy that prioritizes inputs to valuation techniques used to measure fair value into three broad levels. Level 1 inputs are quoted market prices in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. Level 2 inputs are inputs, other than quoted market prices included within Level 1, that are observable for the asset or liability, either directly or indirectly. Level 3 inputs are unobservable inputs for the asset or liability. The Company does not have any recurring assets or liabilities measured at fair value that would be considered Level 3. The Company’s assets and (liabilities) measured at fair value are as follows: September 30, 2018 December 31, 2017 Quoted prices Significant Quoted prices Significant in active other in active other markets for observable markets for observable identical assets inputs identical assets inputs Description Total (Level 1) (Level 2) Total (Level 1) (Level 2) (amounts in thousands) Cash equivalents $ 28,335 28,335 — 76,304 76,304 — Derivative instruments (1) $ 50,000 — 50,000 — — — (1) As of September 30, 2018, the Company had an outstanding zero-strike call option on 6 21,920 shares of Liberty Broadband Series C common stock. The Company paid a premium of $4 8.6 million in August 2018 for the zero-strike call option. The Company accounted for the zero-strike call option as a financial instrument asset due to its settlement provisions. The fair value of Level 2 derivative instruments were derived from a Black-Scholes model using observable market data as the significant inputs. The inputs used in the model during the period outstanding (exclusive of the applicable trading price of Liberty Broadband Series C common stock and the strike prices associated with the call options) were as follows: Range Volatility 20.2 % - 38.0 % Interest rate 1.0 % - 2.3 % Dividend yield 0 % - 0 % Other Financial Instruments Other financial instruments not measured at fair value on a recurring basis include trade receivables, trade payables, accrued and other current liabilities, current portion of debt and long-term debt. With the exception of long-term debt, the carrying amount approximates fair value due to the short maturity of these instruments as reported on our condensed consolidated balance sheets. The carrying value of our long-term debt bears interest at a variable rate and therefore is also considered to approximate fair value. Realized and Unrealized Gains (Losses) on Financial Instruments Realized and unrealized gains (losses) on financial instruments are comprised of changes in the fair value of the following: Three months ended Nine months ended September 30, September 30, 2018 2017 2018 2017 (amounts in thousands) Derivative instruments (1) 5,678 2,675 3,659 5,026 $ 5,678 2,675 3,659 5,026 (1) In April 2018, the Company entered into another zero-strike call option on 610,325 shares of Liberty Broadband Series C common stock and prepaid a premium of $47.8 million. Liberty Broadband exercised its option to settle the contract in cash in June 2018 for cash proceeds of $46.5 million, and recognized a realized loss on the options as of June 30, 2018. In June 2018, the Company entered into another zero-strike call option on 632,911 shares of Liberty Broadband Series C common stock. Upon expiration, the zero-strike call option was rolled into a new zero-strike call option on 621,920 shares of Liberty Broadband Series C common stock and the Company prepaid a premium of $48.6 million in August 2018. The Company recognized a realized and unrealized gain upon expiration of the option in August 2018 and recognized an unrealized gain on the outstanding option as of September 30, 2018.

Investment in Charter Accounted

Investment in Charter Accounted for Using the Equity Method	9 Months Ended
	Sep. 30, 2018
Investment in Charter Accounted for Using the Equity Method
Investment in Charter Accounted for Using the Equity Method	(5) Investment in Charter Accounted for Using the Equity Method Through a number of prior years’ transactions, Liberty Broadband has acquired an interest in Charter. The investment in Charter is accounted for as an equity method affiliate based on our ownership interest and the board seats held by individuals appointed by Liberty Broadband. As of September 30, 2018, the carrying value of Liberty Broadband’s ownership in Charter was approximately $11,977 million. The market value of Liberty Broadband’s ownership in Charter as of September 30, 2018 was approximately $17,621 million, which represented an approximate economic ownership of 23.6% of the outstanding equity of Charter as of that date. Pursuant to proxy agreements with GCI Liberty (see below) and A/N (the “GCI Liberty Proxy” and “A/N Proxy”, respectively), Liberty Broadband has an irrevocable proxy to vote certain shares of Charter common stock owned beneficially or of record by GCI Liberty and A/N, for a five year term expiring May 18, 2021, subject to extension upon the mutual agreement of both parties, subject to certain limitations. In March 2018, Qurate Retail completed its previously announced transactions with GCI Liberty and, in connection with the completion of these transactions, the proxy agreement with Qurate Retail was assigned to GCI Liberty. As a result of the A/N Proxy and the GCI Liberty Proxy, Liberty Broadband controls 25.01% of the aggregate voting power of Charter following the completion of the Time Warner Cable Merger and the Bright House Transaction and is Charter’s largest stockholder. Additionally, so long as the A/N Proxy is in effect, if A/N proposes to transfer common units of Charter Communications Holdings, LLC (which units are exchangeable into Charter shares and which will, under certain circumstances, result in the conversion of certain shares of Class B Common Stock into Charter shares) or Charter shares, in each case, constituting either (i) shares representing the first 7.0% of the outstanding voting power of Charter held by A/N or (ii) shares representing the last 7.0% of the outstanding voting power of New Charter held by A/N, Liberty Broadband will have a right of first refusal (“ROFR”) to purchase all or a portion of any such securities A/N proposes to transfer. The purchase price per share for any securities sold to Liberty Broadband pursuant to the ROFR will be the volume-weighted average price of Charter shares for the two trading day period before the notice of a proposed sale by A/N, payable in cash. Certain transfers are permitted to affiliates of A/N, subject to the transferee entity entering into an agreement assuming the transferor’s obligations under the A/N Proxy. Investment in Charter The excess basis in our investment in Charter has increased to $3,213 million as of September 30, 2018 allocated within memo accounts used for equity accounting purposes as follows (amounts in millions): September 30, December 31, 2018 2017 Property and equipment $ 336 361 Customer relationships 713 689 Franchise fees 1,782 1,670 Trademarks 29 29 Goodwill 1,145 986 Debt (103) (98) Deferred income tax liability (689) (662) $ 3,213 2,975 Upon acquisition, Liberty Broadband ascribed remaining useful lives of 7 years and 13 years to property and equipment and customer relationships, respectively, and indefinite lives to franchise fees, trademarks and goodwill. The excess basis of outstanding debt is amortized over the contractual period using the effective interest rate method. The increase in excess basis for the nine months ended September 30, 2018, was primarily due to Charter’s share buyback program. The Company’s share of earnings (losses) of affiliates line item in the accompanying condensed consolidated statements of operations includes expenses of $30.2 million and $15.3 million, net of related taxes, for the three months ended September 30, 2018 and 2017, respectively, and expenses of $88.1 million and $44.0 million, net of related taxes, for the nine months ended September 30, 2018 and 2017, respectively, due to the amortization of the excess basis related to assets with identifiable useful lives and debt. The Company had a dilution loss of $3.2 million and $3.7 million during the three months ended September 30, 2018 and 2017, respectively, and a dilution loss of $35.2 million and $42.5 million during the nine months ended September 30, 2018 and 2017, respectively. The dilution losses for the periods presented were attributable to stock option exercises by employees and other third parties at prices below Liberty Broadband’s book basis per share. Accounting Changes Charter adopted several new accounting standards as of January 1, 2018, including the new revenue guidance. Charter adopted the new revenue guidance, as described in note 2, on January 1, 2018 using the modified retrospective transition method with a cumulative-effect adjustment to equity. The January 1, 2018 adoption cumulative-effect adjustment consisted of an increase to other noncurrent assets of $120 million, an increase to accounts payable and accrued liabilities of $71 million, an increase to deferred income tax liabilities of $11 million and an increase to total shareholders’ equity of $38 million. Charter applied the cumulative-effect method to all contracts as of January 1, 2018. Operating results for the three and nine months ended September 30, 2018 are not materially different than results that would have been reported under previous guidance. Also on January 1, 2018, Charter adopted guidance which requires both the selling entity and the buying entity in an intra-entity asset transfer (other than the transfer of inventory) to immediately recognize the current and deferred income tax consequences of the transaction. Income tax effects of intra-entity transfers of inventory will continue to be deferred until the inventory has been sold to a third party. Charter adopted this guidance using a modified retrospective approach, with the cumulative-effect adjustment recognized directly to shareholders equity for the income tax effects of intra-entity asset transfers (other than transfers of inventory) that happened before the adoption date. Charter identified a $31 million increase to total shareholders' equity and corresponding increase to deferred tax assets related to the adoption, which was recorded during the three months ended September 30, 2018. Summarized unaudited financial information for Charter is as follows (amounts in millions): Charter condensed consolidated balance sheets September 30, 2018 December 31, 2017 Current assets $ 2,777 2,555 Property and equipment, net 34,740 33,888 Goodwill 29,554 29,554 Intangible assets, net 77,455 79,270 Other assets 1,559 1,356 Total assets $ 146,085 146,623 Current liabilities 11,850 11,090 Deferred income taxes 17,421 17,314 Long-term debt 69,135 68,186 Other liabilities 2,451 2,502 Equity 45,228 47,531 Total liabilities and shareholders’ equity $ 146,085 146,623 Charter condensed consolidated statements of operations Three months ended Nine months ended September 30, September 30, 2018 2017 2018 2017 Revenue $ 10,892 10,458 32,403 30,979 Cost and expenses: Operating costs and expenses (excluding depreciation and amortization) (7,012) (6,703) (20,721) (19,857) Depreciation and amortization (2,482) (2,701) (7,784) (7,846) Other operating expenses, net (18) (145) (116) (374) (9,512) (9,549) (28,621) (28,077) Operating income 1,380 909 3,782 2,902 Interest expense, net (901) (788) (2,630) (2,250) Other income (expense), net 214 (3) 172 (55) Income tax benefit (expense) (109) (26) (178) (99) Net income (loss) 584 92 1,146 498 Less: Net income attributable to noncontrolling interests (91) (44) (212) (156) Net income (loss) attributable to Charter shareholders $ 493 48 934 342

Debt

Debt	9 Months Ended
	Sep. 30, 2018
Debt
Debt	(6) Debt Amended 2017 Margin Loan Facility On August 24, 2018, a bankruptcy remote wholly owned subsidiary of the Company (“SPV”), entered into Amendment No. 1 to its multi-draw margin loan credit facility (the “Amended 2017 Margin Loan Facility” and, the credit agreement governing such facility, the “Amended 2017 Margin Loan Agreement”) with Wilmington Trust, National Association as the successor administrative agent, BNP Paribas, Dublin Branch, as the successor calculation agent, and the lenders thereunder. SPV is permitted, subject to certain funding conditions, to borrow term loans up to an aggregate principal amount equal to $1.0 billion. SPV will also have the ability from time to time to request additional loans in an aggregate principal amount of up to $1.0 billion on an uncommitted basis subject to certain conditions. On April 4, 2018, SPV borrowed $25 million against the Amended 2017 Margin Loan Facility. SPV had borrowed $525 million and $500 million as of September 30, 2018 and December 31, 2017, respectively. SPV had $475 million available to be drawn until August 27, 2019. The maturity date of the loans under the Amended 2017 Margin Loan Agreement is August 24, 2020 (except for any incremental loans incurred thereunder to the extent SPV and the incremental lenders agree to a later maturity date). Accordingly, the debt is classified as noncurrent as of September 30, 2018. Borrowings under the Amended 2017 Margin Loan Agreement bear interest at the three-month LIBOR rate plus a per annum spread of 1.5%, unless it is unlawful for the applicable lender to fund or maintain loans based on LIBOR or there are material restrictions on the applicable lender to do so, in which case borrowings under the Amended 2017 Margin Loan Agreement will either (a) bear interest at 0.5% plus the higher of (i) the federal funds rate plus ½ of 1%, (ii) the prime rate and (iii) LIBOR plus 1% for each day during such period or (b) be prepaid. Borrowings outstanding under this margin loan bore interest at a rate of 3.83% per annum at September 30, 2018. Interest is payable quarterly in arrears beginning on September 29, 2017. SPV used available cash and a portion of the proceeds of the loans under the Amended 2017 Margin Loan Facility to repay the two margin loan agreements entered into by a wholly-owned special purpose subsidiary of the Company on October 30, 2014 and two margin loan agreements entered into by another wholly-owned special purpose subsidiary of the Company on March 21, 2016. Borrowings may also be used for distribution as a dividend or a return of capital, for the purchase of margin stock and for general corporate purposes. The Amended 2017 Margin Loan Agreement contains various affirmative and negative covenants that restrict the activities of the SPV (and, in some cases, the Company and its subsidiaries with respect to shares of Charter owned by the Company and its subsidiaries). The Amended 2017 Margin Loan Agreement does not include any financial covenants. The Amended 2017 Margin Loan Agreement also contains restrictions related to additional indebtedness and events of default customary for margin loans of this type. SPV’s obligations under the Amended 2017 Margin Loan Agreement are secured by first priority liens on a portion of the Company’s ownership interest in Charter, sufficient for SPV to meet the loan to value requirements under the Amended 2017 Margin Loan Agreement. The Amended 2017 Margin Loan Agreement indicates that no lender party shall have any voting rights with respect to the shares transferred, except to the extent that a lender party buys any shares in a sale or other disposition made pursuant to the terms of the loan agreements. As of September 30, 2018, 6.8 million shares of Charter with a value of $2.2 billion were pledged as collateral pursuant to the Amended 2017 Margin Loan Agreement.

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Sep. 30, 2018
Stock-Based Compensation
Stock-Based Compensation	(7) Stock-Based Compensation Liberty Broadband grants, to certain of its directors, employees and employees of its subsidiaries, restricted stock and stock options to purchase shares of its common stock (collectively, "Awards"). The Company measures the cost of employee services received in exchange for an equity classified Award (such as stock options and restricted stock) based on the grant-date fair value (“GDFV”) of the Award, and recognizes that cost over the period during which the employee is required to provide service (usually the vesting period of the Award). The Company measures the cost of employee services received in exchange for a liability classified Award based on the current fair value of the Award, and remeasures the fair value of the Award at each reporting date. Included in the accompanying condensed consolidated statements of operations are the following amounts of stock-based compensation for the three and nine months ended September 30, 2018 and 2017 (amounts in thousands): Three months Nine months ended ended September 30, September 30, 2018 2017 2018 2017 Operating expense $ — 3 1 5 Selling, general and administrative 1,382 1,429 4,156 4,032 Research and development 15 67 41 339 $ 1,397 1,499 4,198 4,376 Liberty Broadband – Grants of Stock Options There were no options to purchase shares of Series A, Series B or Series C common stock granted during the nine months ended September 30, 2018. The Company calculates the GDFV for all of its equity classified awards and any subsequent remeasurement of its liability classified awards using the Black-Scholes Model. The Company estimates the expected term of the Awards based on historical exercise and forfeiture data. The volatility used in the calculation for Awards is based on the historical volatility of Liberty Broadband common stock and the implied volatility of publicly traded Liberty Broadband options. The Company uses a zero dividend rate and the risk-free rate for Treasury Bonds with a term similar to that of the subject options. Liberty Broadband – Outstanding Awards The following tables present the number and weighted average exercise price (“WAEP”) of Awards to purchase Liberty Broadband common stock granted to certain officers, employees and directors of the Company, as well as the weighted average remaining life and aggregate intrinsic value of the Awards. Weighted average remaining Aggregate contractual intrinsic Series A WAEP life value (in thousands) (in years) (in millions) Outstanding at January 1, 2018 404 $ 33.16 Granted — $ — Exercised (8) $ 29.17 Forfeited/cancelled — $ — Outstanding at September 30, 2018 396 $ 33.25 1.3 $ 20 Exercisable at September 30, 2018 395 $ 33.21 1.2 $ 20 Weighted average remaining Aggregate contractual intrinsic Series C WAEP life value (in thousands) (in years) (in millions) Outstanding at January 1, 2018 2,388 $ 43.35 Granted — $ — Exercised (37) $ 29.98 Forfeited/cancelled — $ — Outstanding at September 30, 2018 2,351 $ 43.56 4.5 $ 96 Exercisable at September 30, 2018 833 $ 34.57 1.4 $ 41 As of September 30, 2018 , the total unrecognized compensation cost related to unvested Awards was approximately $5.9 million . Such amount will be recognized in the Company's condensed consolidated statements of operations over a weighted average period of approximately 1.8 years. As of September 30, 2018, Liberty Broadband reserved 2.7 million shares of Series A and Series C common stock for issuance under exercise privileges of outstanding stock Awards. Skyhook Equity Incentive Plans Long-Term Incentive Plans Skyhook has a long-term incentive plan which provides for the granting of phantom stock appreciation rights (“PARs”) and phantom stock units (“PSUs”) to employees, directors, and consultants of Skyhook that is not significant to Liberty Broadband. As of September 30, 2018 and December 31, 2017, $1.0 million and $1.2 million, respectively, are included in other liabilities for the fair value (Level 2) of the Company’s long-term incentive plan obligations.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2018
Commitments and Contingencies
Commitments and Contingencies	(8) Commitments and Contingencies General Litigation In the ordinary course of business, the Company and its consolidated subsidiary are parties to legal proceedings and claims involving alleged infringement of third-party intellectual property rights, defamation, and other claims. Although it is reasonably possible that the Company may incur losses upon conclusion of such matters, an estimate of any loss or range of loss cannot be made. In the opinion of management, it is expected that amounts, if any, which may be required to satisfy such contingencies will not be material in relation to the accompanying condensed consolidated financial statements. Certain Risks and Concentrations The Skyhook business is subject to certain risks and concentrations including dependence on relationships with its customers. The Company’s largest customers, that accounted for greater than 10% of revenue, aggregated 71% and 57% of total revenue for the three months ended September 30, 2018 and 2017, respectively, and 70% and 57% of total revenue for the nine months ended September 30, 2018 and 2017, respectively. Off-Balance Sheet Arrangements Liberty Broadband did not have any off-balance sheet arrangements that have, or are reasonably likely to have, a current or future effect on the Company’s financial condition, results of operations, liquidity, capital expenditures or capital resources.

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2018
Segment Information
Segment Information	(9) Segment Information Liberty Broadband identifies its reportable segments as (A) those consolidated companies that represent 10% or more of its consolidated annual revenue, annual Adjusted OIBDA or total assets and (B) those equity method affiliates whose share of earnings or losses represent 10% or more of Liberty Broadband’s annual pre-tax earnings (losses). Liberty Broadband evaluates performance and makes decisions about allocating resources to its operating segments based on financial measures such as revenue and Adjusted OIBDA. In addition, Liberty Broadband reviews nonfinancial measures such as subscriber growth. Liberty Broadband defines Adjusted OIBDA as revenue less operating expenses and selling, general and administrative expenses (excluding stock-based compensation). Liberty Broadband believes this measure is an important indicator of the operational strength and performance of its businesses, including each business’s ability to service debt and fund capital expenditures. In addition, this measure allows management to view operating results and perform analytical comparisons and benchmarking between businesses and identify strategies to improve performance. This measure of performance excludes depreciation and amortization, stock-based compensation, separately reported litigation settlements and restructuring and impairment charges that are included in the measurement of operating income pursuant to GAAP. Accordingly, Adjusted OIBDA should be considered in addition to, but not as a substitute for, operating income, net earnings, cash flow provided by operating activities and other measures of financial performance prepared in accordance with GAAP. Liberty Broadband generally accounts for intersegment sales and transfers as if the sales or transfers were to third parties, that is, at current prices. For the nine months ended September 30, 2018, Liberty Broadband has identified the following consolidated company and equity method investment as its reportable segments: · Skyhook—a wholly owned subsidiary of the Company that provides the Precision Location Solution (a location determination service) and Geospatial Insights product (a location intelligence and data insights service). · Charter—an equity method investment that is one of the largest providers of cable services in the United States, offering a variety of entertainment, information and communications solutions to residential and commercial customers. Liberty Broadband’s operating segments are strategic business units that offer different products and services. They are managed separately because each segment requires different technologies, distribution channels and marketing strategies. The accounting policies of the segments that are also consolidated companies are the same as those described in the Company’s summary of significant accounting policies in the Company’s annual financial statements. We have included amounts attributable to Charter in the tables below. Although Liberty Broadband owns less than 100% of the outstanding shares of Charter, 100% of the Charter amounts are included in the schedule below and subsequently eliminated in order to reconcile the account totals to the Liberty Broadband condensed consolidated financial statements. Performance Measures Three months ended September 30, 2018 2017 Adjusted Adjusted Revenue OIBDA Revenue OIBDA (amounts in thousands) Skyhook $ 3,518 (683) 3,430 (980) Charter 10,892,000 3,933,000 10,458,000 3,674,000 Corporate and other — (1,515) — (2,366) 10,895,518 3,930,802 10,461,430 3,670,654 Eliminate equity method affiliate (10,892,000) (3,933,000) (10,458,000) (3,674,000) Consolidated Liberty Broadband $ 3,518 (2,198) 3,430 (3,346) Nine months ended September 30, 2018 2017 Adjusted Adjusted Revenue OIBDA Revenue OIBDA (amounts in thousands) Skyhook $ 18,680 4,393 9,643 (6,839) Charter 32,403,000 11,779,000 30,979,000 10,946,000 Corporate and other — (4,807) — (5,423) 32,421,680 11,778,586 30,988,643 10,933,738 Eliminate equity method affiliate (32,403,000) (11,779,000) (30,979,000) (10,946,000) Consolidated Liberty Broadband $ 18,680 (414) 9,643 (12,262) Other Information September 30, 2018 Total Investments Capital assets in affiliates expenditures (amounts in thousands) Skyhook $ 25,286 — 35 Charter 146,085,000 — 6,692,000 Corporate and other 12,057,388 11,977,368 — 158,167,674 11,977,368 6,692,035 Eliminate equity method affiliate (146,085,000) — (6,692,000) Consolidated Liberty Broadband $ 12,082,674 11,977,368 35 The following table provides a reconciliation of consolidated segment Adjusted OIBDA to Operating income (loss) and Earnings (loss) before income taxes: Three months Nine months ended September 30, ended September 30, 2018 2017 2018 2017 (amounts in thousands) Consolidated segment Adjusted OIBDA $ (2,198) (3,346) (414) (12,262) Stock-based compensation (1,397) (1,499) (4,198) (4,376) Depreciation and amortization (501) (942) (2,309) (2,844) Operating income (loss) (4,096) (5,787) (6,921) (19,482) Interest expense (5,967) (5,518) (17,039) (14,899) Dividend and interest income 167 422 585 1,219 Share of earnings (loss) of affiliates, net 84,739 (5,280) 126,952 25,109 Realized and unrealized gains (losses) on financial instruments, net 5,678 2,675 3,659 5,026 Gain (loss) on dilution of investment in affiliate (3,203) (3,718) (35,165) (42,515) Other, net 83 9 83 11 Earnings (loss) before income taxes $ 77,401 (17,197) 72,154 (45,531)

Recent Accounting Pronounceme_2

Recent Accounting Pronouncements (Policies)	9 Months Ended
	Sep. 30, 2018
Recent Accounting Pronouncements
Recent Accounting Pronouncements	Accounting Standards Adopted January 1, 2018 Revenue from Contracts with Customers. As of January 1, 2018, the Company adopted the Accounting Standards Updates (“ASU”) amending revenue recognition guidance using the modified retrospective method for all contracts reflecting the aggregate effect of modifications prior to the date of adoption. Results for reporting periods beginning after January 1, 2018 are presented under the new guidance, while prior period amounts were not adjusted and continue to be reported under the accounting standards in effect for those periods. Upon adoption, we recognized a net cumulative effect of applying the new revenue guidance as a net increase to the opening balance of retained earnings of $1.2 million, as well as an increase to other current assets of $0.3 million, an increase to deferred income tax liabilities of $0.4 million and a decrease to deferred revenue and other current liabilities of $1.3 million, primarily due to changes in the timing of revenue recognition. The impact of the new accounting guidance to our condensed consolidated statement of operations was not meaningful for the three and nine months ended September 30, 2018, and we do not expect it to be meaningful going forward. Revenue Recognition Skyhook earns revenue from the sale and integration of its Precision Location Solution (including the licensing of software and data components that make up that solution) and the licensing of Geospatial Insights data. In addition, Skyhook earns revenue through entering into licensing agreements with companies to utilize its underlying intellectual property. Revenue is recognized upon transfer of control of promised products or services to its customers in an amount that reflects the consideration expected to be received in exchange for those products and services. Skyhook sells its Precision Location Solution and Geospatial Insights data via fixed fee, usage basis or revenue share licensing arrangements. Revenue for fixed fee arrangements is recognized on a straight-line basis over the performance period. Revenue for usage based contracts or revenue share arrangements is recognized upon transfer of the service to its customers. Contracts with customers often include multiple products and services, which in general are not distinct within the context of the contract. Transaction prices of individual products and services are not allocated to specific performance obligations and are recognized ratably. Skyhook recognizes fees received from intellectual property licensing at the inception of a license term for perpetual licenses when there are no ongoing performance obligations. Revenue recognition is deferred when there are ongoing performance obligations. In such circumstances, revenue would be allocated to the performance obligation and recognized upon the transfer of control of the promised product or service. Deferred Revenue. At January 1, 2018, deferred revenue liabilities consisted of $4.5 million and $2.3 million, included in deferred revenue and other current liabilities, and other liabilities, respectively. Of this $6.8 million that was recorded as deferred revenue, $4.0 million was recognized as revenue during the nine months ended September 30, 2018. At September 30, 2018, the related balance consisted of $6.5 million and $2.2 million, included in deferred revenue and other current liabilities, and other liabilities, respectively. Of this $8.7 million that was recorded as deferred revenue, we expect to recognize approximately 87% over the next one to three years. Accounting Policies Elected. The Company has elected to exclude all taxes assessed by a governmental authority from the measurement of the transaction price. Practical Expedients Utilized. The Company has elected to apply the new revenue guidance only to those contracts that were not completed contracts as of December 31, 2017 and considered contract modifications that occurred prior to January 1, 2018 as combined with the original contract. Subsequent to January 1, 2018, the Company will consider each modification separately in accordance with the new guidance. Significant Judgments. The Company estimates variable consideration at the most likely amount to which we expect to be entitled. The estimate of variable consideration and determination of whether to include estimated amounts in the transaction price are based largely on an assessment of our anticipated performance and all historical, current and forecast information that is reasonably available to us. Definition of a Business. As of January 1, 2018, the Company adopted the new guidance clarifying the definition of a business for determining whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. Upon adoption, the standard impacts how the Company assesses acquisitions (or disposals) of assets or businesses. The new accounting guidance had no material impact to our condensed consolidated financial statements for the three and nine months ended September 30, 2018, and we do not expect it to be meaningful going forward. Accounting Standards Not Yet Adopted Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income. In February 2018, the Financial Accounting Standards Board (“FASB”) issued new guidance that allows an entity to elect to reclassify “stranded” tax effects in AOCI to retained earnings to address concerns related to accounting for certain provisions of the Tax Cuts and Jobs Act ("the Tax Act") enacted in December 2017. The guidance is effective for annual and interim reporting periods beginning after December 15, 2018, with early adoption permitted. We are currently evaluating the impact of the adoption of this new guidance on our consolidated financial statements.

Earnings (Loss) per Share (Tabl

Earnings (Loss) per Share (Tables)	9 Months Ended
	Sep. 30, 2018
Summary of Significant Accounting Policies
Schedule of weighted average number of shares	Liberty Broadband Common Stock Three months Three months Nine months Nine months ended ended ended ended September 30, 2018 September 30, 2017 September 30, 2018 September 30, 2017 (numbers of shares in thousands) Basic WASO 181,328 181,846 181,322 181,795 Potentially dilutive shares (1) 1,244 1,485 1,264 1,369 Diluted WASO 182,572 183,331 182,586 183,164 (1) Potentially dilutive shares are excluded from the computation of diluted EPS during periods in which losses are reported since the result would be antidilutive.

Assets and Liabilities Measur_2

Assets and Liabilities Measured at Fair Value (Tables)	9 Months Ended
	Sep. 30, 2018
Assets and Liabilities Measured at Fair Value
Schedule of assets and liabilities measured at fair value	September 30, 2018 December 31, 2017 Quoted prices Significant Quoted prices Significant in active other in active other markets for observable markets for observable identical assets inputs identical assets inputs Description Total (Level 1) (Level 2) Total (Level 1) (Level 2) (amounts in thousands) Cash equivalents $ 28,335 28,335 — 76,304 76,304 — Derivative instruments (1) $ 50,000 — 50,000 — — — (1) As of September 30, 2018, the Company had an outstanding zero-strike call option on 6 21,920 shares of Liberty Broadband Series C common stock. The Company paid a premium of $4 8.6 million in August 2018 for the zero-strike call option. The Company accounted for the zero-strike call option as a financial instrument asset due to its settlement provisions.
Schedule of fair value inputs	Range Volatility 20.2 % - 38.0 % Interest rate 1.0 % - 2.3 % Dividend yield 0 % - 0 %
Schedule of realized and unrealized gains (losses) on financial instruments	Three months ended Nine months ended September 30, September 30, 2018 2017 2018 2017 (amounts in thousands) Derivative instruments (1) 5,678 2,675 3,659 5,026 $ 5,678 2,675 3,659 5,026 In April 2018, the Company entered into another zero-strike call option on 610,325 shares of Liberty Broadband Series C common stock and prepaid a premium of $47.8 million. Liberty Broadband exercised its option to settle the contract in cash in June 2018 for cash proceeds of $46.5 million, and recognized a realized loss on the options as of June 30, 2018. In June 2018, the Company entered into another zero-strike call option on 632,911 shares of Liberty Broadband Series C common stock. Upon expiration, the zero-strike call option was rolled into a new zero-strike call option on 621,920 shares of Liberty Broadband Series C common stock and the Company prepaid a premium of $48.6 million in August 2018. The Company recognized a realized and unrealized gain upon expiration of the option in August 2018 and recognized an unrealized gain on the outstanding option as of September 30, 2018.

Investment in Charter Account_2

Investment in Charter Accounted for Using the Equity Method (Tables)	9 Months Ended
	Sep. 30, 2018
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 has increased to $3,213 million as of September 30, 2018 allocated within memo accounts used for equity accounting purposes as follows (amounts in millions): September 30, December 31, 2018 2017 Property and equipment $ 336 361 Customer relationships 713 689 Franchise fees 1,782 1,670 Trademarks 29 29 Goodwill 1,145 986 Debt (103) (98) Deferred income tax liability (689) (662) $ 3,213 2,975
Summary of financial information for Charter	Summarized unaudited financial information for Charter is as follows (amounts in millions): Charter condensed consolidated balance sheets September 30, 2018 December 31, 2017 Current assets $ 2,777 2,555 Property and equipment, net 34,740 33,888 Goodwill 29,554 29,554 Intangible assets, net 77,455 79,270 Other assets 1,559 1,356 Total assets $ 146,085 146,623 Current liabilities 11,850 11,090 Deferred income taxes 17,421 17,314 Long-term debt 69,135 68,186 Other liabilities 2,451 2,502 Equity 45,228 47,531 Total liabilities and shareholders’ equity $ 146,085 146,623 Charter condensed consolidated statements of operations Three months ended Nine months ended September 30, September 30, 2018 2017 2018 2017 Revenue $ 10,892 10,458 32,403 30,979 Cost and expenses: Operating costs and expenses (excluding depreciation and amortization) (7,012) (6,703) (20,721) (19,857) Depreciation and amortization (2,482) (2,701) (7,784) (7,846) Other operating expenses, net (18) (145) (116) (374) (9,512) (9,549) (28,621) (28,077) Operating income 1,380 909 3,782 2,902 Interest expense, net (901) (788) (2,630) (2,250) Other income (expense), net 214 (3) 172 (55) Income tax benefit (expense) (109) (26) (178) (99) Net income (loss) 584 92 1,146 498 Less: Net income attributable to noncontrolling interests (91) (44) (212) (156) Net income (loss) attributable to Charter shareholders $ 493 48 934 342

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2018
Schedule of stock-based compensation expense	Included in the accompanying condensed consolidated statements of operations are the following amounts of stock-based compensation for the three and nine months ended September 30, 2018 and 2017 (amounts in thousands): Three months Nine months ended ended September 30, September 30, 2018 2017 2018 2017 Operating expense $ — 3 1 5 Selling, general and administrative 1,382 1,429 4,156 4,032 Research and development 15 67 41 339 $ 1,397 1,499 4,198 4,376
Series A common stock
Schedule of stock awards activity	Weighted average remaining Aggregate contractual intrinsic Series A WAEP life value (in thousands) (in years) (in millions) Outstanding at January 1, 2018 404 $ 33.16 Granted — $ — Exercised (8) $ 29.17 Forfeited/cancelled — $ — Outstanding at September 30, 2018 396 $ 33.25 1.3 $ 20 Exercisable at September 30, 2018 395 $ 33.21 1.2 $ 20
Series C common stock
Schedule of stock awards activity	Weighted average remaining Aggregate contractual intrinsic Series C WAEP life value (in thousands) (in years) (in millions) Outstanding at January 1, 2018 2,388 $ 43.35 Granted — $ — Exercised (37) $ 29.98 Forfeited/cancelled — $ — Outstanding at September 30, 2018 2,351 $ 43.56 4.5 $ 96 Exercisable at September 30, 2018 833 $ 34.57 1.4 $ 41

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2018
Segment Information
Schedule of performance measures	Three months ended September 30, 2018 2017 Adjusted Adjusted Revenue OIBDA Revenue OIBDA (amounts in thousands) Skyhook $ 3,518 (683) 3,430 (980) Charter 10,892,000 3,933,000 10,458,000 3,674,000 Corporate and other — (1,515) — (2,366) 10,895,518 3,930,802 10,461,430 3,670,654 Eliminate equity method affiliate (10,892,000) (3,933,000) (10,458,000) (3,674,000) Consolidated Liberty Broadband $ 3,518 (2,198) 3,430 (3,346) Nine months ended September 30, 2018 2017 Adjusted Adjusted Revenue OIBDA Revenue OIBDA (amounts in thousands) Skyhook $ 18,680 4,393 9,643 (6,839) Charter 32,403,000 11,779,000 30,979,000 10,946,000 Corporate and other — (4,807) — (5,423) 32,421,680 11,778,586 30,988,643 10,933,738 Eliminate equity method affiliate (32,403,000) (11,779,000) (30,979,000) (10,946,000) Consolidated Liberty Broadband $ 18,680 (414) 9,643 (12,262)
Schedule of segment reporting information	September 30, 2018 Total Investments Capital assets in affiliates expenditures (amounts in thousands) Skyhook $ 25,286 — 35 Charter 146,085,000 — 6,692,000 Corporate and other 12,057,388 11,977,368 — 158,167,674 11,977,368 6,692,035 Eliminate equity method affiliate (146,085,000) — (6,692,000) Consolidated Liberty Broadband $ 12,082,674 11,977,368 35
Schedule of reconciliation of segment Adjusted OIBDA to earnings (loss) before income taxes	Three months Nine months ended September 30, ended September 30, 2018 2017 2018 2017 (amounts in thousands) Consolidated segment Adjusted OIBDA $ (2,198) (3,346) (414) (12,262) Stock-based compensation (1,397) (1,499) (4,198) (4,376) Depreciation and amortization (501) (942) (2,309) (2,844) Operating income (loss) (4,096) (5,787) (6,921) (19,482) Interest expense (5,967) (5,518) (17,039) (14,899) Dividend and interest income 167 422 585 1,219 Share of earnings (loss) of affiliates, net 84,739 (5,280) 126,952 25,109 Realized and unrealized gains (losses) on financial instruments, net 5,678 2,675 3,659 5,026 Gain (loss) on dilution of investment in affiliate (3,203) (3,718) (35,165) (42,515) Other, net 83 9 83 11 Earnings (loss) before income taxes $ 77,401 (17,197) 72,154 (45,531)

Basis of Presentation (Details)

Basis of Presentation (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018USD ($)	Sep. 30, 2017USD ($)	Sep. 30, 2018USD ($)product	Sep. 30, 2017USD ($)	May 18, 2016
Voting interest acquired (as a percent)					25.01%
Liberty
Related Party Transaction, Amounts of Transaction | $	$ 818	$ 814	$ 2,600	$ 2,600
Skyhook
Number of primary products sold | product			2

Recent Accounting Pronounceme_3

Recent Accounting Pronouncements (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Sep. 30, 2018	Jan. 01, 2018	Dec. 31, 2017
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Retained earnings	$ 2,635,865	$ 2,635,865		$ 2,568,764
Other current assets	2,210	2,210		2,797
Deferred income tax liabilities	961,835	961,835		932,593
Deferred revenue and other current liabilities	6,908	6,908		$ 5,168
Deferred revenue
Deferred revenue current	6,500	6,500	$ 4,500
Deferred revenue noncurrent	2,200	2,200	2,300
Deferred revenue	$ 8,700	8,700	6,800
Revenue recognized		$ 4,000
Revenue recognized percentage	87.00%
Practical expedient modified contract		true
ASU 2014-09 | Adjustment
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Retained earnings			1,200
Other current assets			300
Deferred income tax liabilities			400
Deferred revenue and other current liabilities			$ (1,300)
Minimum
Deferred revenue
Revenue recognized period	1 year
Maximum
Deferred revenue
Revenue recognized period	3 years

Earnings (loss) per Share (Deta

Earnings (loss) per Share (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Earnings (loss) per Share
Basic WASO	181,328	181,846	181,322	181,795
Potentially dilutive shares	1,244	1,485	1,264	1,369
Diluted WASO	182,572	183,331	182,586	183,164

Assets and Liabilities Measur_3

Assets and Liabilities Measured at Fair Value (Details) $ in Thousands	1 Months Ended
	Aug. 31, 2018USD ($)shares	Jun. 30, 2018USD ($)shares	Apr. 30, 2018USD ($)shares	Sep. 30, 2018USD ($)itemshares	Dec. 31, 2017USD ($)
Recurring
Assets and Liabilities Measured at Fair Value
Cash equivalents | $				$ 28,335	$ 76,304
Derivative Asset | $				50,000
Zero-strike call option
Assets and Liabilities Measured at Fair Value
Derivative settlement proceeds | $		$ 46,500
Level 1 | Recurring
Assets and Liabilities Measured at Fair Value
Cash equivalents | $				28,335	$ 76,304
Level 2 | Recurring
Assets and Liabilities Measured at Fair Value
Derivative Asset | $				$ 50,000
Minimum | Volatility
Level 2 input
Derivative Measurement Input | item				0.202
Minimum | Interest Rate
Level 2 input
Derivative Measurement Input | item				0.010
Minimum | Dividend Yield
Level 2 input
Derivative Measurement Input | item				0
Maximum | Volatility
Level 2 input
Derivative Measurement Input | item				0.380
Maximum | Interest Rate
Level 2 input
Derivative Measurement Input | item				0.023
Maximum | Dividend Yield
Level 2 input
Derivative Measurement Input | item				0
Series C common stock | Zero-strike call option | Call Option
Assets and Liabilities Measured at Fair Value
Derivative underlying share amount | shares	621,920	632,911	610,325	621,920
Derivative premium paid | $	$ 48,600		$ 47,800

Assets and Liabilities Measur_4

Assets and Liabilities Measured at Fair Value (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Realized and Unrealized Gains (Losses) on Financial Instruments
Realized and unrealized gains (losses)	$ 5,678	$ 2,675	$ 3,659	$ 5,026
Zero-strike call option
Realized and Unrealized Gains (Losses) on Financial Instruments
Realized and unrealized gains (losses)	$ 5,678	$ 2,675	$ 3,659	$ 5,026

Investments in Charter Accounte

Investments in Charter Accounted for Using the Equity Method (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2018	Dec. 31, 2017	May 18, 2016
Investments in affiliates accounted for using the Equity Method
Business Acquisition, Percentage of Voting Interests Acquired			25.01%
Charter
Investments in affiliates accounted for using the Equity Method
Equity Method Investment, Difference Between Carrying Amount and Underlying Equity	$ 3,213	$ 2,975
A/N | Charter
Investments in affiliates accounted for using the Equity Method
Proxy agreement term	5 years
Trading days before proposed sale of A/N	2 days
first | A/N | Charter
Investments in affiliates accounted for using the Equity Method
Business Acquisition, Percentage of Voting Interests Acquired	25.01%
Maximum percentage of New Charter shares that may be voted by proxy	7.00%
last | A/N | Charter
Investments in affiliates accounted for using the Equity Method
Maximum percentage of New Charter shares that may be voted by proxy	7.00%

Investments in Charter Accoun_2

Investments in Charter Accounted for Using the Equity Method (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Jan. 01, 2018	Dec. 31, 2017
Investments in affiliates accounted for using the Equity Method
Carrying value of equity method investment	$ 11,977,368		$ 11,977,368			$ 11,835,613
Excess basis allocation within memo accounts
Income (Loss) from Equity Method Investments	84,739	$ (5,280)	126,952	$ 25,109
Gain (loss) on dilution of investment in affiliate	(3,203)	(3,718)	(35,165)	(42,515)
Other assets	49		49			49
Accounts payable and accrued liabilities	3,091		3,091			5,381
Deferred income tax liabilities	961,835		961,835			932,593
Total equity	10,585,295		10,585,295			10,486,901
Charter
Investments in affiliates accounted for using the Equity Method
Carrying value of equity method investment	11,977,000		11,977,000
Market value of equity method investment	$ 17,621,000		$ 17,621,000
Ownership percentage	23.60%		23.60%
Excess basis allocation within memo accounts
Property and equipment	$ 336,000		$ 336,000			361,000
Customer relationships	713,000		713,000			689,000
Franchise fees	1,782,000		1,782,000			1,670,000
Trademarks	29,000		29,000			29,000
Goodwill	1,145,000		1,145,000			986,000
Debt	(103,000)		(103,000)			(98,000)
Deferred income tax liability	(689,000)		(689,000)			(662,000)
Total	3,213,000		3,213,000			$ 2,975,000
Excess basis amortization of debt and intangible assets	30,200	15,300	88,100	44,000
Gain (loss) on dilution of investment in affiliate	(3,200)	$ (3,700)	$ (35,200)	$ (42,500)
Charter | Customer relationships
Excess basis allocation within memo accounts
Useful lives of customer relationships			13 years
Charter | Property, Plant and Equipment
Excess basis allocation within memo accounts
Useful lives of property and equipment			7 years
ASU 2016-16 | Charter
Excess basis allocation within memo accounts
Deferred income tax assets	31,000		$ 31,000
Total equity	$ 31,000		$ 31,000
Adjustment | ASU 2014-09
Excess basis allocation within memo accounts
Deferred income tax liabilities					$ 400
Adjustment | ASU 2014-09 | Charter
Excess basis allocation within memo accounts
Other assets					120,000
Accounts payable and accrued liabilities					71,000
Deferred income tax liabilities					11,000
Total equity					$ 38,000

Investments in Charter Accoun_3

Investments in Charter Accounted for Using the Equity Method (Details) - Charter - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Charter consolidated balance sheet
Current assets	$ 2,777		$ 2,777		$ 2,555
Property and equipment, net	34,740		34,740		33,888
Goodwill	29,554		29,554		29,554
Intangible assets, net	77,455		77,455		79,270
Other assets	1,559		1,559		1,356
Total assets	146,085		146,085		146,623
Current liabilities	11,850		11,850		11,090
Deferred income taxes	17,421		17,421		17,314
Long-term debt	69,135		69,135		68,186
Other liabilities	2,451		2,451		2,502
Equity	45,228		45,228		47,531
Total liabilities and shareholders' equity	146,085		146,085		$ 146,623
Charter consolidated statement of operations
Revenue	10,892	$ 10,458	32,403	$ 30,979
Operating costs and expenses	(7,012)	(6,703)	(20,721)	(19,857)
Depreciation and amortization	(2,482)	(2,701)	(7,784)	(7,846)
Other operating expenses	(18)	(145)	(116)	(374)
Total operating costs and expenses	(9,512)	(9,549)	(28,621)	(28,077)
Operating income	1,380	909	3,782	2,902
Interest expense, net	(901)	(788)	(2,630)	(2,250)
Other income (expense), net	214	(3)	172	(55)
Income tax benefit (expense), net	(109)	(26)	(178)	(99)
Net income (loss)	584	92	1,146	498
Less: Net income attributable to noncontrolling interests	(91)	(44)	(212)	(156)
Net income (loss) attributable to Charter shareholders	$ 493	$ 48	$ 934	$ 342

Debt (Details)

Debt (Details) $ in Thousands	Aug. 24, 2018USD ($)	Mar. 21, 2016loan	Oct. 30, 2014loan	Sep. 30, 2018USD ($)shares	Apr. 04, 2018USD ($)	Dec. 31, 2017USD ($)
Debt disclosures
Long-term Debt				$ 522,617		$ 497,370
Margin Loan Agreements | Charter
Debt disclosures
Number of common shares pledged as collateral | shares				6,800,000
Value of pledged collateral				$ 2,200,000
Amended 2017 Margin Loan Agreement
Debt disclosures
Debt Instrument, Interest Rate, Effective Percentage				3.83%
SPV | Amended 2017 Margin Loan Agreement
Debt disclosures
Long-term Debt, Face Amount					$ 25,000
Long-term Debt, Gross				$ 525,000		$ 500,000
Maximum borrowing capacity	$ 1,000,000
Additional allowed borrowing capacity	$ 1,000,000
Remaining borrowing capacity				$ 475,000
Basis spread on variable rate	0.50%
SPV | Amended 2017 Margin Loan Agreement | LIBOR
Debt disclosures
Interest rate basis	LIBOR
Basis spread on variable rate	1.00%
SPV | Amended 2017 Margin Loan Agreement | Three-month LIBOR
Debt disclosures
Interest rate basis	three-month LIBOR
Basis spread on variable rate	1.50%
SPV | Amended 2017 Margin Loan Agreement | Federal Funds Rate
Debt disclosures
Basis spread on variable rate	0.50%
BroadbandSPV
Debt disclosures
Number of debt agreements | loan			2
Cheetah 5
Debt disclosures
Number of debt agreements | loan		2

Stock-Based Compensation (Detai

Stock-Based Compensation (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Stock-Based Compensation
Stock-based compensation	$ 1,397	$ 1,499	$ 4,198	$ 4,376
Operating expense
Stock-Based Compensation
Stock-based compensation		3	1	5
Selling, general and administrative
Stock-Based Compensation
Stock-based compensation	1,382	1,429	4,156	4,032
Research and development
Stock-Based Compensation
Stock-based compensation	$ 15	$ 67	$ 41	$ 339

Stock-Based Compensation (Det_2

Stock-Based Compensation (Details) - USD ($) $ / shares in Units, $ in Millions	9 Months Ended
	Sep. 30, 2018	Dec. 31, 2017
Fair value assumptions
Dividend rate	0.00%
Options
Unrecognized compensation cost options	$ 5.9
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	1 year 9 months 18 days
Common Stock, Capital Shares Reserved for Future Issuance	2,700,000
2014 Plan | Awards | Series A common stock
Options
Outstanding beginning balance (in shares)	404,000
Exercised (in shares)	(8,000)
Outstanding ending balance (in shares)	396,000
Number of awards exercisable (in shares)	395,000
WAEP Outstanding beginning balance (in dollars per share)	$ 33.16
WAEP options exercised (in dollars per share)	29.17
WAEP Outstanding ending balance (in dollars per share)	33.25
WAEP options exercisable (in dollars per share)	$ 33.21
Weighted average remaining contractual life outstanding	1 year 3 months 18 days
Weighted average remaining contractual life exercisable	1 year 2 months 12 days
Aggregate intrinsic value outstanding	$ 20
Aggregate intrinsic value exercisable	$ 20
2014 Plan | Awards | Series C common stock
Options
Outstanding beginning balance (in shares)	2,388,000
Exercised (in shares)	(37,000)
Outstanding ending balance (in shares)	2,351,000
Number of awards exercisable (in shares)	833,000
WAEP Outstanding beginning balance (in dollars per share)	$ 43.35
WAEP options exercised (in dollars per share)	29.98
WAEP Outstanding ending balance (in dollars per share)	43.56
WAEP options exercisable (in dollars per share)	$ 34.57
Weighted average remaining contractual life outstanding	4 years 6 months
Weighted average remaining contractual life exercisable	1 year 4 months 24 days
Aggregate intrinsic value outstanding	$ 96
Aggregate intrinsic value exercisable	$ 41
2014 Plan | Options
Options
Options granted (in shares)	0
Other liabilities | Skyhook | LTIPs | PARs and PSUs | Level 2
Options
Deferred compensation	$ 1	$ 1.2

Commitments and Contingencies (

Commitments and Contingencies (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Revenue | Customer concentration
Certain Risks and Concentrations
Concentration Risk, Percentage	71.00%	57.00%	70.00%	57.00%

Segment Information (Details)

Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Segment information
Revenue	$ 3,518	$ 3,430	$ 18,680	$ 9,643
Adjusted OIBDA	(2,198)	(3,346)	(414)	(12,262)
Total assets	12,082,674		12,082,674		$ 11,931,789
Investments in affiliates	11,977,368		11,977,368		$ 11,835,613
Capital expenditures			$ 35
Charter
Segment information
Financial results included in the disclosure (as a percent)			100.00%
Operating segments | Skyhook
Segment information
Revenue	3,518	3,430	$ 18,680	9,643
Adjusted OIBDA	(683)	(980)	4,393	(6,839)
Total assets	25,286		25,286
Capital expenditures			35
Operating segments | Charter
Segment information
Revenue	10,892,000	10,458,000	32,403,000	30,979,000
Adjusted OIBDA	3,933,000	3,674,000	11,779,000	10,946,000
Total assets	146,085,000		146,085,000
Capital expenditures			6,692,000
Corporate and other
Segment information
Adjusted OIBDA	(1,515)	(2,366)	(4,807)	(5,423)
Total assets	12,057,388		12,057,388
Investments in affiliates	11,977,368		11,977,368
Operating Segments And Corporate Non-Segment
Segment information
Revenue	10,895,518	10,461,430	32,421,680	30,988,643
Adjusted OIBDA	3,930,802	3,670,654	11,778,586	10,933,738
Total assets	158,167,674		158,167,674
Investments in affiliates	11,977,368		11,977,368
Capital expenditures			6,692,035
Eliminate equity method affiliate
Segment information
Revenue	(10,892,000)	(10,458,000)	(32,403,000)	(30,979,000)
Adjusted OIBDA	(3,933,000)	$ (3,674,000)	(11,779,000)	$ (10,946,000)
Total assets	$ (146,085,000)		(146,085,000)
Capital expenditures			$ (6,692,000)

Segment Information (Details)_2

Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Reconciliation of segment Adjusted OIBDA to earnings (loss) before income taxes
Combined segment Adjusted OIBDA	$ (2,198)	$ (3,346)	$ (414)	$ (12,262)
Stock-based compensation	(1,397)	(1,499)	(4,198)	(4,376)
Depreciation and amortization	(501)	(942)	(2,309)	(2,844)
Operating income (loss)	(4,096)	(5,787)	(6,921)	(19,482)
Interest expense	(5,967)	(5,518)	(17,039)	(14,899)
Dividend and interest income	167	422	585	1,219
Share of earnings (losses) of affiliates	84,739	(5,280)	126,952	25,109
Realized and unrealized gains (losses) on financial instruments, net	5,678	2,675	3,659	5,026
Gain (loss) on dilution of investment in affiliate	(3,203)	(3,718)	(35,165)	(42,515)
Other, net	83	9	83	11
Net earnings (loss) before income taxes	$ 77,401	$ (17,197)	$ 72,154	$ (45,531)