Liberty Broadband (LBRDK) 10-K 8 Feb 19 2018 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2018	Jan. 31, 2019	Jun. 29, 2018
Entity Registrant Name	Liberty Broadband Corp
Entity Central Index Key	1,611,983
Document Type	10-K
Document Period End Date	Dec. 31, 2018
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Public Float			$ 13
Entity Small Business	false
Entity Emerging Growth Company	false
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	FY
Series A common stock
Entity Common Stock, Shares Outstanding		26,313,600
Series B common stock
Entity Common Stock, Shares Outstanding		2,454,520
Series C common stock
Entity Common Stock, Shares Outstanding		152,591,984

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Current assets:
Cash and cash equivalents	$ 83,103	$ 81,257
Other current assets	1,471	2,797
Total current assets	84,574	84,054
Investment in Charter, accounted for using the equity method	12,004,376	11,835,613
Other assets	9,487	12,122
Total assets	12,098,437	11,931,789
Current liabilities:
Accounts payable and accrued liabilities	3,504	5,381
Deferred revenue and other current liabilities	4,691	5,168
Total current liabilities	8,195	10,549
Debt	522,928	497,370
Deferred income tax liabilities	965,829	932,593
Other liabilities	2,867	4,376
Total liabilities	1,499,819	1,444,888
Equity
Preferred stock
Additional paid-in capital	7,938,357	7,907,900
Accumulated other comprehensive earnings, net of taxes	7,778	8,424
Retained earnings	2,650,669	2,568,764
Total equity	10,598,618	10,486,901
Commitments and contingencies
Total liabilities and equity	12,098,437	11,931,789
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

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2018	Dec. 31, 2017
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	26,311,681	26,301,755
Common Stock, Shares, Outstanding	26,311,681	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	2,454,520	2,455,179
Common Stock, Shares, Outstanding	2,454,520	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	152,591,939	152,563,229
Common Stock, Shares, Outstanding	152,591,939	152,563,229

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Revenue:
Revenue	$ 22,256	$ 13,092	$ 30,586
Operating costs and expenses
Operating, including stock-based compensation	2,038	2,582	2,798
Selling, general and administrative, including stock-based compensation	23,497	24,065	34,703
Research and development, including stock-based compensation	5,956	8,153	10,240
Depreciation and amortization	2,779	3,770	4,005
Total operating costs and expenses	34,270	38,570	51,746
Operating income (loss)	(12,014)	(25,478)	(21,160)
Other income (expense):
Interest expense	(23,302)	(19,570)	(14,956)
Dividend and interest income	881	1,449	5,020
Share of earnings (losses) of affiliates	166,146	2,508,991	641,544
Gain (loss) on dilution of investment in affiliate	(43,575)	(17,872)	770,766
Realized and unrealized gains (losses) on financial instruments, net	3,659	3,098	94,122
Other, net	82	(18)	336
Earnings (loss) from continuing operations before income taxes	91,877	2,450,600	1,475,672
Income tax benefit (expense)	(21,924)	(416,933)	(558,369)
Net earnings (loss) attributable to Liberty Broadband shareholders	$ 69,953	$ 2,033,667	$ 917,303
Basic earnings (loss) from continuing operations attributable to Series A, Series B and Series C Liberty Broadband shareholders per common share	$ 0.39	$ 11.19	$ 6.03
Diluted net earnings (loss) attributable to Series A, Series B and Series C Liberty Broadband shareholders per common share	$ 0.38	$ 11.10	$ 6
Software sales
Revenue:
Revenue	$ 22,256	$ 12,320	$ 28,597
Service
Revenue:
Revenue		$ 772	1,858
Other
Revenue:
Revenue			$ 131

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Earnings (Loss) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Condensed Consolidated Statements of Comprehensive Earnings (Loss)
Net earnings (loss)	$ 69,953	$ 2,033,667	$ 917,303
Other comprehensive earnings (loss), net of taxes:
Unrealized holding gains (losses) arising during the period			(221)
Share of other comprehensive earnings (loss) of equity affiliate and other	(172)	768	811
Other	(474)		(1,839)
Other comprehensive earnings (loss), net of taxes	(646)	768	(1,249)
Comprehensive earnings (loss) attributable to Liberty Broadband shareholders	$ 69,307	$ 2,034,435	$ 916,054

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Cash flows from operating activities:
Net earnings (loss)	$ 69,953	$ 2,033,667	$ 917,303
Adjustments to reconcile net earnings (loss) to net cash provided by operating activities:
Depreciation and amortization	2,779	3,770	4,005
Stock-based compensation	5,707	5,292	5,713
Cash payments for stock-based compensation	(342)	(525)	(591)
Share of (earnings) losses of affiliate, net	(166,146)	(2,508,991)	(641,544)
(Gain) loss on dilution of investment in affiliate	43,575	17,872	(770,766)
Realized and unrealized (gains) losses on financial instruments, net	(3,659)	(3,098)	(94,122)
Deferred income tax expense (benefit)	21,569	416,838	560,778
Other, net	1,838	2,030	1,033
Changes in operating assets and liabilities:
Current and other assets	1,476	2,310	9,161
Payables and other liabilities	(3,010)	804	(2,868)
Net cash provided by operating activities	(26,260)	(30,031)	(11,898)
Cash flows from investing activities:
Capital expended for property and equipment	(41)	(70)	(267)
Investments in equity investees			(5,000,000)
Purchases of short term investments and other marketable securities			(155,444)
Sales of short term investments and other marketable securities			164,458
Other investing activities, net		14	453
Net cash used in investing activities	(41)	(56)	(4,990,800)
Cash flows from financing activities:
Borrowings of debt	158,000	500,000	200,000
Repayments of debt	(133,000)	(600,000)
Cash received from issuance of Series C Liberty Broadband common stock			4,400,000
Proceeds (payments) from issuances of financial instruments	(142,824)	(149,368)	(47,888)
Proceeds (payments) from settlements of financial instruments	146,483	155,683
Other financing activities, net	(512)	(699)	1,235
Net cash provided by (used in) financing activities	28,147	(94,384)	4,553,347
Net increase (decrease) in cash, cash equivalents and restricted cash	1,846	(124,471)	(449,351)
Cash, cash equivalents and restricted cash beginning of period	81,257	205,728	655,079
Cash, cash equivalents and restricted cash end of period	83,103	81,257	205,728
Supplemental Cash Flow Information [Abstract]
Cash paid for interest	21,948	17,496	13,783
Cash paid (received) for taxes	$ (730)	$ (1,787)	$ (9,410)

Consolidated Statement of Equit

Consolidated Statement of Equity - USD ($)	Series A common stock	Series B common stock	Series C common stock	Additional Paid In Capital	Accumulated other comprehensive earnings	Retained earnings	Total
Increase (Decrease) in Stockholders' Equity
Cumulative effect of accounting change | ASU 2016-09							$ 0
Balance at Dec. 31, 2015	$ 262,000	$ 25,000	$ 746,000	$ 3,537,848,000	$ 8,905,000	$ (399,567,000)	3,148,219,000
Increase (Decrease) in Stockholders' Equity
Net earnings (loss)						917,303,000	917,303,000
Other comprehensive earnings (loss)					(1,249,000)		(1,249,000)
Stock-based compensation				5,362,000			5,362,000
Issuance of common stock upon exercise of stock options			1,000	3,529,000			3,530,000
Issuance of common stock			783,000	4,399,217,000			4,400,000,000
Other				(73,000)			(73,000)
Balance at Dec. 31, 2016	262,000	25,000	1,530,000	7,945,883,000	7,656,000	517,736,000	8,473,092,000
Increase (Decrease) in Stockholders' Equity
Net earnings (loss)						2,033,667,000	2,033,667,000
Other comprehensive earnings (loss)					768,000		768,000
Stock-based compensation				5,358,000			5,358,000
Issuance of common stock upon exercise of stock options			1,000	2,456,000			2,457,000
Non-cash settlement of financial instrument			(5,000)	(45,797,000)			(45,802,000)
Balance at Dec. 31, 2017	262,000	25,000	1,526,000	7,907,900,000	8,424,000	2,568,764,000	10,486,901,000
Increase (Decrease) in Stockholders' Equity
Cumulative effect of accounting change | ASU 2016-09						17,361,000	17,361,000
Net earnings (loss)						69,953,000	69,953,000
Other comprehensive earnings (loss)					(646,000)		(646,000)
Stock-based compensation				5,402,000			5,402,000
Issuance of common stock upon exercise of stock options	1,000			737,000			738,000
Noncontrolling interest activity at Charter				24,318,000			24,318,000
Balance at Dec. 31, 2018	$ 263,000	$ 25,000	$ 1,526,000	$ 7,938,357,000	$ 7,778,000	2,650,669,000	10,598,618,000
Increase (Decrease) in Stockholders' Equity
Cumulative effect of accounting change | ASU 2014-09						1,223,000	1,223,000
Cumulative effect of accounting change						$ 10,729,000	$ 10,729,000

Basis of Presentation

Basis of Presentation	12 Months Ended
	Dec. 31, 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. (“TruePosition”), (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 consolidated financial statements. The Broadband Spin-Off was accounted for at historical cost due to the pro rata nature of the distribution to holders of Liberty common stock. In the Broadband Spin-Off, record holders of Liberty Series A, Series B and Series C common stock received one-fourth of a share of the corresponding series of Liberty Broadband common stock for each share of Liberty common stock held by them, with cash paid in lieu of fractional shares. In addition, following the completion of the Broadband Spin-Off, on December 10, 2014, Liberty Broadband stockholders received a subscription right to acquire one share of Series C Liberty Broadband common stock for every five shares of Liberty Broadband common stock. See note 8 for additional information related to the rights offering. 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 $3.5 million and $3.2 million were reimbursed to Liberty for the years ended December 31, 2018 and 2017, respectively. On May 18, 2016, Time Warner Cable merged with 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 Charter, becoming the new publicly traded parent company. Also on May 18, 2016, the previously announced acquisition of Bright House Networks, LLC (“Bright House”) 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 (“Liberty Interactive,” for accounting purposes a related party of the Company) 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. (the “GCI Liberty Agreement”) and A/N (the “A/N Proxy”), 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 accompanying consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“GAAP”) and represent the historical consolidated financial information of Skyhook, the Company’s interest in Charter, the Company’s former minority equity investment in Time Warner Cable and certain deferred tax liabilities. All significant intercompany accounts and transactions have been eliminated in the consolidated financial statements.

Description of Business

Description of Business	12 Months Ended
	Dec. 31, 2018
Description of Business
Description of Business	(2) Description of Business Skyhook Holding, Inc. (formerly known as TruePosition) was originally incorporated on November 24, 1992 to provide technology for locating wireless phones and other mobile devices. TruePosition offered a passive network-based location system based on its patented U-TDOA technology (“U-TDOA Service”) to provide E-9-1-1 services domestically and to enhance services in support of commercial applications and national security law enforcement worldwide. In February 2014, TruePosition acquired 100% of the outstanding common shares of Skyhook Wireless, Inc., for approximately $57.5 million in cash. Skyhook Wireless, Inc. was an alternative location services provider that offered a positioning system that used device-based measurements, as opposed to TruePosition’s network-based technology. In May 2016, TruePosition and Skyhook Wireless, Inc. combined operations in order to focus on the development and sale of Skyhook’s device-based location technology, and TruePosition subsequently changed its name to Skyhook Holding, Inc. Skyhook Holding, Inc. and Skyhook Wireless, Inc. are referred to collectively herein as “Skyhook.” Today, 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. Skyhook’s Precision Location Solution works by collecting nearby radio signals (such as information from WiFi access points, cell towers, IP addresses and other radio beacons) that are observed by a mobile device. Skyhook’s Geospatial Insights product uses anonymized location data to analyze foot traffic patterns and better understand the real-world behavior of consumers. Skyhook’s revenue is derived 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 (including patents). Charter is the second largest cable operator in the United States and a leading broadband communications services company providing video, Internet and voice services to residential and small and medium business customers. Charter also recently launched its Spectrum mobile service to residential customers. In addition, Charter sells video and online advertising inventory to local, regional and national advertising customers and fiber-delivered communications and managed information technology (“IT”) solutions to large enterprise customers. Charter also owns and operates regional sports networks and local sports, news and community channels. Charter’s core strategy is to use its network to deliver high quality products at highly competitive prices, combined with outstanding service. Also included in Liberty Broadband is a former investment in outstanding shares of Time Warner Cable, which was classified as available-for-sale and carried at fair value based on quoted market prices until the second quarter of 2016 when Time Warner Cable merged with Charter. Additionally, the Company historically had written call options and a cashless collar agreement on Time Warner Cable shares. See note 4 for information regarding the Time Warner Cable written call options and cashless collar agreement.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2018
Summary of Significant Accounting Policies
Summary of Significant Accounting Policies	(3) Summary of Significant Accounting Policies Cash and Cash Equivalents Cash consists of cash deposits held in global financial institutions. Cash equivalents consist of highly liquid investments with original maturities of three months or less at the time of acquisition. Cash that has restrictions upon its usage has been excluded from cash and cash equivalents. Derivative Instruments and Hedging Activities All of the Company’s derivatives, whether designated in hedging relationships or not, are recorded on the balance sheet at fair value. None of the Company’s derivatives are currently designated as hedges, as a result, changes in the fair value of the derivative are recognized in earnings. The fair value of certain of the Company’s derivative instruments are estimated using the Black Scholes Merton option-pricing model (“Black-Scholes model”). The Black-Scholes model incorporates a number of variables in determining such fair values, including expected volatility of the underlying security and an appropriate discount rate. The Company obtained volatility rates from pricing services based on the expected volatility of the underlying security over the remaining term of the derivative instrument. A discount rate was obtained at the inception of the derivative instrument and updated each reporting period, based on the Company’s estimate of the discount rate at which it could currently settle the derivative instrument. The Company considered its own credit risk as well as the credit risk of its counterparties in estimating the discount rate. Management judgment was required in estimating the Black-Scholes variables. The Company had no outstanding derivative instruments at December 31, 2018 or December 31, 2017. Investment in Equity Method Affiliate For those investments in affiliates in which the Company has the ability to exercise significant influence, the equity method of accounting is used. Under this method, the investment, originally recorded at cost, is adjusted to recognize the Company’s share of net earnings or losses of the affiliate as they occur rather than as dividends or other distributions are received. Losses are limited to the extent of the Company’s investment in, advances to and commitments for the investee. The Company determines the difference between the purchase price of the investee and the underlying equity which results in an excess basis in the investment. This excess basis is allocated to the underlying assets and liabilities of the Company’s investee through a purchase accounting exercise and is allocated within memo accounts used for equity accounting purposes. Depending on the applicable underlying assets, these amounts are either amortized over the applicable useful lives or determined to be indefinite lived. Changes in the Company’s proportionate share of the underlying equity of an equity method investee, which result from the issuance of additional equity securities by such equity investee, are recognized in the statement of operations through the gain (loss) on dilution of investment in affiliate line item. We periodically evaluate our equity method investment to determine if decreases in fair value below our cost basis are other than temporary. If a decline in fair value is determined to be other than temporary, we are required to reflect such decline in our consolidated statement of operations. Other than temporary declines in fair value of our equity method investment would be included in share of earnings (losses) of affiliate in our consolidated statement of operations. The primary factors we consider in our determination of whether declines in fair value are other than temporary are the length of time that the fair value of the investment is below our carrying value; the severity of the decline; and the financial condition, operating performance and near term prospects of the investee. In addition, we consider the reason for the decline in fair value, be it general market conditions, industry specific or investee specific; analysts' ratings and estimates of 12 month share price targets for the investee; changes in stock price or valuation subsequent to the balance sheet date; and our intent and ability to hold the investment for a period of time sufficient to allow for a recovery in fair value. Fair value of our publicly traded cost and equity investments is based on the market prices of the investments at the balance sheet date. Impairments are calculated as the difference between our carrying value and our estimate of fair value. As our assessment of the fair value of our investments and any resulting impairment losses and the timing of when to recognize such charges requires a high degree of judgment and includes significant estimates and assumptions, actual results could differ materially from our estimates and assumptions. As Liberty Broadband does not control the decision making process or business management practices of our affiliate accounted for using the equity method, Liberty Broadband relies on management of its 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 the audit reports that are provided by the affiliate’s independent auditors 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 consolidated financial statements. See note 5 for additional discussion regarding our investment in Charter and the Transactions that occurred during the second quarter of 2016. Foreign Currency Translation and Transaction Gains and Losses The functional currency of the Company is the United States (“U.S.”) dollar. Transactions denominated in currencies other than the functional currency are recorded based on exchange rates at the time such transactions arise. Subsequent changes in exchange rates result in transaction gains and losses which are reflected in the accompanying consolidated statements of operations and comprehensive earnings (loss) as unrealized (based on the applicable period end exchange rate) or realized upon settlement of the transactions. Revenue Recognition 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 consolidated statement of operations was not meaningful for the year ended December 31, 2018, and we do not expect it to be meaningful going forward. 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, $4.2 million was recognized as revenue during the year ended December 31, 2018. At December 31, 2018, the related balance consisted of $4.3 million and $1.9 million, included in deferred revenue and other current liabilities, and other liabilities, respectively. Of this $6.2 million that was recorded as deferred revenue, we expect to recognize approximately 96% 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. Research and Development Costs Research and development costs are expensed as incurred. Stock-Based Compensation As more fully described in note 9, Liberty Broadband has granted to its directors, employees and employees of certain of its subsidiaries, restricted stock and stock options to purchase shares of Liberty Broadband common stock (collectively, “Awards”). Liberty Broadband 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 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). Liberty Broadband 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. Certain outstanding awards of Liberty were assumed by Liberty Broadband at the time of the Broadband Spin-Off. Additionally, Skyhook sponsors long-term incentive plans (“LTIPs”) which provide for the granting of phantom stock units (“PSUs”), and phantom stock appreciation rights (“PARs”) to employees, directors, and consultants of Skyhook. Skyhook measures the cost of employee services received in exchange for awards of equity instruments based on the grant-date fair value of the award and recognizes that cost ratably over the period during which the employee is required to provide service (usually the vesting period of the award). Skyhook measures the cost of employee services received in exchange for awards of liability instruments (such as PSUs and PARs that will be settled in cash) based on the current fair value of the award, and remeasures the fair value of the award at each reporting date. The consolidated statements of operations includes stock-based compensation related to Skyhook awards. In March 2016, the FASB issued new guidance which simplifies several aspects of the accounting for share-based payment award transactions, including the income tax consequences, forfeitures, classification of awards as either equity or liabilities, and classification on the statement of cash flows. The new standard is effective for the Company for fiscal years and interim periods beginning after December 15, 2016, with early application permitted. The Company adopted this guidance in the third quarter of 2016. In accordance with the new guidance, excess tax benefits and tax deficiencies are recognized as income tax benefit or expense rather than as additional paid-in capital. The Company has elected to recognize forfeitures as they occur rather than continue to estimate expected forfeitures. In addition, pursuant to the new guidance, excess tax benefits are classified as an operating activity on the consolidated statements of cash flows. The recognition of excess tax benefits and deficiencies are applied prospectively from January 1, 2016. Based on the Company’s analysis, no cumulative effect adjustment to retained earnings was necessary for tax benefits that were not previously recognized and for adjustments to compensation cost based on actual forfeitures. There were no excess tax benefits reclassified for the year ended December 31, 2016. Income Taxes The Company accounts for income taxes using the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying value amounts and income tax bases of assets and liabilities and the expected benefits of utilizing net operating loss and tax credit carryforwards. The deferred tax assets and liabilities are calculated using enacted tax rates in effect for each taxing jurisdiction in which the Company operates for the year in which those temporary differences are expected to be recovered or settled. Net deferred tax assets are then reduced by a valuation allowance if the Company believes it more likely than not that such net deferred tax assets will not be realized. We consider all relevant factors when assessing the likelihood of future realization of our deferred tax assets, including our recent earnings experience by jurisdiction, expectations of future taxable income, and the carryforward periods available to us for tax reporting purposes, as well as assessing available tax planning strategies. The effect on deferred tax assets and liabilities of an enacted change in tax rates is recognized in income in the period that includes the enactment date. Due to inherent complexities arising from the nature of our businesses, future changes in income tax law, tax sharing agreements or variances between our actual and anticipated operating results, we make certain judgments and estimates. Therefore, actual income taxes could materially vary from these estimates. When the tax law requires interest to be paid on an underpayment of income taxes, the Company recognizes interest expense from the first period the interest would begin accruing according to the relevant tax law. Such interest expense is included in interest expense in the accompanying consolidated statements of operations. Any accrual of penalties related to underpayment of income taxes on uncertain tax positions is included in other income (expense) in the accompanying consolidated statements of operations. We recognize in our consolidated financial statements the impact of a tax position, if that position is more likely than not to be sustained upon an examination, based on the technical merits of the position. 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 66% of total revenue for the year ended December 31, 2018, and 57% of total revenue for both of the years ended December 31, 2017 and 2016. Contingent Liabilities Periodically, we review the status of all significant outstanding matters to assess any potential financial exposure. When (i) it is probable that an asset has been impaired or a liability has been incurred and (ii) the amount of the loss can be reasonably estimated, we record the estimated loss in our consolidated statements of operations. We provide disclosure in the notes to the consolidated financial statements for loss contingencies that do not meet both these conditions if there is a reasonable possibility that a loss may have been incurred that would be material to the financial statements. Significant judgment is required to determine the probability that a liability has been incurred and whether such liability is reasonably estimable. We base accruals made on the best information available at the time which can be highly subjective. The final outcome of these matters could vary significantly from the amounts included in the accompanying consolidated financial statements. Comprehensive Earnings (Loss) Comprehensive earnings (loss) consists of net earnings (loss), cumulative foreign currency translation adjustments, unrealized gains and losses on available-for-sale securities, net of tax and the Company’s share of the comprehensive earnings (loss) of our equity method affiliate. Earnings per Share (EPS) Basic earnings (loss) per common share (“EPS”) is computed by dividing net earnings (loss) by the weighted average number of common shares outstanding 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. Years ended December 31, 2018 2017 2016 number of shares in thousands Basic WASO 181,325 181,772 152,103 Potentially dilutive shares 1,264 1,374 749 Diluted WASO 182,589 183,146 152,852 Potential common shares excluded from diluted EPS because their inclusion would be antidilutive for the years ended December 31, 2018, 2017 and 2016 are approximately 10 thousand, zero, and 17 thousand, respectively. Reclasses and adjustments Certain prior period amounts have been reclassified for comparability with the current year presentation. Estimates 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 its affiliates and accounting for income taxes to be its most significant estimates.

Assets and Liabilities Measured

Assets and Liabilities Measured at Fair Value	12 Months Ended
	Dec. 31, 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: December 31, 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 $ 67,329 67,329 — 76,304 76,304 — 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 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: Years ended December 31, 2018 2017 2016 (amounts in thousands) Time Warner Cable investment (1) $ — — 92,990 Derivative instruments (2) 3,659 3,098 1,132 $ 3,659 3,098 94,122 (1) As discussed in note 5, Time Warner Cable merged with Charter on May 18, 2016. Therefore the Company no longer has an investment in Time Warner Cable as of May 18, 2016, and the unrealized gain (loss) related to our investment in Time Warner Cable is recorded through this date. In connection with the merger, the Company exchanged, in a tax-free transaction, its shares of Time Warner Cable for shares of Charter Class A common stock. (2) During the year ended December 31, 2016, the Company entered into a zero-strike call option on Liberty Broadband Series C common stock and prepaid a premium of $47.9 million. During the year ended December 31, 2017, the Company entered into and settled additional zero-strike call options and paid an aggregate of $149.4 million and received an aggregate of $155.7 million from the counterparty. Additionally, in 2017, the Company physically settled one of the contracts (see note 8 in the accompanying notes to the consolidated financial statements for additional discussion). During the year ended December 31, 2018, the Company continued to enter into and settle zero-strike call options and paid an aggregate of $142.8 million and received an aggregate of $146.5 million from the counterparty. The Company had no outstanding zero-strike call options as of December 31, 2018 and 2017.

Investment in Charter Accounted

Investment in Charter Accounted for Using the Equity Method	12 Months Ended
	Dec. 31, 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 December 31, 2018, the carrying value of Liberty Broadband’s ownership in Charter was approximately $12,004 million. The market value of Liberty Broadband’s ownership in Charter as of December 31, 2018 was approximately $15,409 million, which represented an approximate economic ownership of 24% of the outstanding equity of Charter as of that date. Pursuant to the proxy agreements with GCI Liberty, Inc. and A/N, Liberty Broadband has an irrevocable proxy to vote certain shares of Charter common stock owned beneficially or of record by GCI Liberty, Inc. and A/N following the closing of the Time Warner Cable Merger, for a five year term subject to extension upon the mutual agreement of both parties, subject to certain limitations. As a result of the A/N Proxy and the GCI Liberty, Inc. Agreement, 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. During the years ended December 31, 2018, 2017 and 2016, there was a dilution loss of $44 million and $18 million, and a dilution gain of $771 million, respectively, in the Company’s investment in Charter. The gain during 2016 is primarily due to the Time Warner Cable Merger. Even after considering the exchange of Time Warner Cable shares held by Liberty Broadband to shares of Charter, Liberty Broadband’s interest in Charter was diluted as a result of the conversion of outstanding Time Warner Cable shares held by third parties into shares of Charter. However, Liberty Broadband recognized a gain during the period as Liberty Broadband’s investment basis in Charter was at a price per share below the new equity issued in the Time Warner Cable Merger. This gain was partially offset by losses due to the issuance of Charter common stock from the exercise of warrants and stock options, held by outside investors (employees and other third parties), at prices below Liberty Broadband’s investment basis per share during the year. The dilution losses during the other periods presented are attributable to stock option exercises by employees and other third parties at prices below Liberty Broadband’s book basis per share. During the years ended December 31, 2018, 2017 and 2016, the Company recorded $172 thousand, $768 thousand and $811 thousand, respectively, of its share of Charter’s other comprehensive earnings, net of income taxes. Charter records gains and losses related to the fair value of its interest rate swap agreements which qualify as hedging activities in other comprehensive income. The pre-tax portion of Liberty Broadband’s share of Charter’s other comprehensive earnings was $0.2 million, $1.2 million and $1.3 million for the years ended December 31, 2018, 2017 and 2016, respectively. The excess basis has increased to $3,298 million as of December 31, 2018. Such amount has been allocated within memo accounts used for equity method accounting purposes as follows (amounts in millions): Years ended December 31, 2018 2017 Property and equipment $ 328 361 Customer relationships 721 689 Franchise fees 1,821 1,670 Trademarks 29 29 Goodwill 1,202 986 Debt (105) (98) Deferred income tax liability (698) (662) $ 3,298 2,975 Upon acquisition, the Company 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 straight-line method. The increase in excess basis for the year ended December 31, 2018, was primarily due to Charter’s share buyback program. Included in our share of earnings from Charter of $166 million, $2,509 million and of $642 million for the years ended December 31, 2018, 2017 and 2016, respectively, are $119 million, $277 million and $42 million, respectively, of losses, net of taxes, due to the amortization of the excess basis of our investment in Charter related to property and equipment, debt and intangible assets with identifiable useful lives. 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 3, 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 year ended December 31, 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 year ended December 31, 2018. Summarized financial information for Charter is as follows: Consolidated Balance Sheets December 31, December 31, 2018 2017 amounts in millions Current assets $ 2,944 2,555 Property and equipment, net 35,126 33,888 Goodwill 29,554 29,554 Intangible assets 76,884 79,270 Other assets 1,622 1,356 Total assets $ 146,130 146,623 Current liabilities $ 12,095 11,090 Deferred income taxes 17,389 17,314 Long-term debt 69,537 68,186 Other liabilities 2,837 2,502 Equity 44,272 47,531 Total liabilities and equity $ 146,130 146,623 Consolidated Statements of Operations Years ended December 31, 2018 2017 2016 amounts in millions Revenue $ 43,634 41,581 29,003 Cost and expenses: Operating costs and expenses (excluding depreciation and amortization) 27,860 26,541 18,655 Depreciation and amortization 10,318 10,588 6,907 Other operating expenses, net 235 346 985 38,413 37,475 26,547 Operating income 5,221 4,106 2,456 Interest expense (3,540) (3,090) (2,499) Loss on extinguishment of debt — (40) (111) Other income (expense), net 5 52 974 Income tax (expense) benefit (180) 9,087 2,925 Net earnings (loss) 1,506 10,115 3,745 Less: Net income attributable to noncontrolling interests (276) (220) (223) Net Income (loss) attributable to Charter shareholders $ 1,230 9,895 3,522

Debt

Debt	12 Months Ended
	Dec. 31, 2018
Debt
Debt	(6) Debt 2014 and 2016 Margin Loans On October 30, 2014, in connection with and prior to the effectiveness of the Broadband Spin-Off, a wholly-owned special purpose subsidiary of the Company ("BroadbandSPV") entered into two margin loan agreements (the "2014 Margin Loan Agreements") with each of the lenders party thereto. On March 21, 2016, a wholly-owned special purpose subsidiary of the Company (“Cheetah 5”), entered into two margin loan agreements (the “2016 Margin Loan Agreements” and together with the 2014 Margin Loan Agreements, the “Margin Loan Agreements”) with each of the lenders thereto. Borrowings under the 2014 Margin Loan Agreements bore interest at the three-month LIBOR rate plus 1.55% and had an unused commitment fee of 0.25% per annum based on the average daily unused portion of the 2014 Margin Loans and borrowings under the 2016 Margin Loan Agreements bore interest at the applicable LIBOR rate plus 2.10% per annum and had an unused commitment fee of 0.5% per annum based on the average daily unused portion of the delayed draw loans. On August 31, 2017, the outstanding borrowings on both margin loans of $400 million and $200 million were repaid, as discussed below. 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 December 31, 2018 and 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 December 31, 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 3.89% per annum at December 31, 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 Margin Loan Agreements. 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 SPV (and, in some cases, the Company and its subsidiaries with respect to shares of Charter owned by the Company and its subsidiaries). The 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 December 31, 2018, 6.8 million shares of Charter with a value of $1.9 billion were pledged as collateral pursuant to the Amended 2017 Margin Loan Agreement.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2018
Income Taxes
Income Taxes	(7) Income Taxes On December 22, 2017, the U.S. government enacted comprehensive tax legislation commonly referred to as the Tax Cuts and Jobs Act (the “Tax Act”). The Tax Act made broad and complex changes to the U.S. tax code, including, but not limited to, (1) reducing the U.S. federal corporate tax rate from 35 percent to 21 percent; (2) bonus depreciation that will allow for full expensing of qualified property; (3) creating a new limitation on deductible interest expense; (4) eliminating the corporate alternative minimum tax (“AMT”) and changing how existing AMT credits can be realized; (5) changing rules related to uses and limitations of net operating loss carryforwards created in tax years beginning after December 31, 2018; and (6) limitations on the deductibility of certain executive compensation. The SEC issued guidance on accounting for the tax effects of the Tax Act. The Company reflected the income tax effects of those aspects of the Tax Act for which the accounting was known as of December 31, 2017. As of December 31, 2018, the Company has completed its analysis of the Tax Act with no changes to the income tax effects presented at December 31, 2017. Income tax benefit (expense) consists of: Years ended December 31, 2018 2017 2016 amounts in thousands Current: Federal $ — (11) 1,556 State and local (355) (84) 853 (355) (95) 2,409 Deferred: Federal (17,501) (301,837) (493,890) State and local (4,068) (115,001) (66,888) (21,569) (416,838) (560,778) Income tax benefit (expense) $ (21,924) (416,933) (558,369) Income tax benefit (expense) differs from the amounts computed by applying the applicable U.S. federal income tax rate of 21% in 2018 and 35% in 2017 and 2016 as a result of the following: Years ended December 31, 2018 2017 2016 amounts in thousands Computed expected tax benefit (expense) $ (19,294) (857,710) (516,485) State and local taxes, net of federal income taxes (3,831) (74,805) (42,995) Foreign taxes, net of foreign tax credit — — (1,180) Change in valuation allowance 380 (1,208) 683 Dividends received deduction — — 931 Change in tax rate - other (27) — 45 Change in tax rate - U.S. tax reform — 515,773 — Derivative instrument 768 1,084 396 Other 80 (67) 236 Income tax (expense) benefit $ (21,924) (416,933) (558,369) For the year ended December 31, 2018, the significant reconciling items, as noted in the table above, are the result of state income taxes, partially offset by unrealized gains attributable to the Company’s own stock which is not recognized for tax purposes. For the year ended December 31, 2017, the significant reconciling items, as noted in the table above, are the result of the effect of the change in the U.S. federal corporate tax rate from 35% to 21% on deferred taxes and the effect of state income taxes. The Company recorded a discrete net tax benefit of $516 million in the period ending December 31, 2017. This net benefit primarily consisted of a net benefit for the corporate rate reduction. For the year ended December 31, 2016, the significant reconciling items, as noted in the table above, are the result of the effect of state income taxes. The tax effects of temporary differences and tax attributes that give rise to significant portions of the deferred income tax assets and deferred income tax liabilities are presented below: December 31, 2018 2017 amounts in thousands Deferred tax assets: Tax loss and tax credit carryforwards $ 56,056 49,555 Accrued stock-based compensation 5,571 4,275 Deferred revenue 1,430 1,805 Other 44 64 Total deferred tax assets 63,101 55,699 Less: valuation allowance (7,773) (8,153) Net deferred tax assets 55,328 47,546 Deferred tax liabilities: Investments (1,020,869) (979,522) Intangible assets (261) (617) Other (27) — Total deferred tax liabilities (1,021,157) (980,139) Net deferred tax asset (liability) $ (965,829) (932,593) The Company’s valuation allowance decreased $0.4 million in 2018, which affected tax expense during the year ended December 31, 2018. At December 31, 2018, the Company had a deferred tax liability on investments of $1,020.9 million due to its share of earnings in its equity investment in Charter. At December 31, 2018, Liberty Broadband had federal and state net operating losses, capital loss carryforwards, interest expense carryforwards and tax credit carryforwards for income tax purposes aggregating $56.1 million (on a tax effected basis). Of the $56.1 million, $6.7 million are carryforwards with no expiration. The remaining carryforwards expire at certain future dates. These carryforwards are expected to be utilized prior to expiration, except for $7.8 million which based on current projections, may expire unused and accordingly are subject to a valuation allowance. The carryforwards that are expected to be utilized will begin to expire in 2021. As of December 31, 2018, the Company had not recorded tax reserves related to unrecognized tax benefits for uncertain tax positions. As of December 31, 2018, the IRS has completed its examination of Liberty Broadband’s 2016 and 2017 tax years. Liberty Broadband’s 2018 tax year is being examined as part of the IRS’s Compliance Assurance Process “CAP” program. Because Liberty Broadband’s ownership of Charter is less than the required 80%, Charter is not consolidated with Liberty Broadband for federal income tax purposes.

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Dec. 31, 2018
Stockholders' Equity
Stockholders' Equity	(8) Stockholders' Equity In the Broadband Spin-Off, record holders of Liberty Series A, Series B and Series C common stock received one-fourth of a share of the corresponding series of Liberty Broadband common stock for each share of Liberty common stock held by them, with cash paid in lieu of fractional shares. This resulted in the issuance of an aggregate 85,761,332 shares of Series A, Series B and Series C common stock. In addition, following the completion of the Broadband Spin-Off, on December 10, 2014, stockholders received a subscription right to acquire one share of Liberty Broadband Series C common stock for every five shares of Liberty Broadband common stock they held as of the rights record date at a per share subscription price of $40.36, which was a 20% discount to the 20-trading day volume weighted average trading price of the Series C Liberty Broadband common stock following the completion of the Broadband Spin-Off. The rights offering was fully subscribed on January 9, 2015, with 17,277,224 shares of Series C common stock issued to those rightsholders exercising basic and, as applicable, oversubscription privileges. The subscription rights were issued to raise capital for general corporate purposes of Liberty Broadband. In connection with the Time Warner Cable Merger in May 2016, Liberty Broadband funded its purchase of shares of Charter Class A common stock using proceeds of $4.4 billion related to subscriptions for approximately 78.3 million newly issued shares of Liberty Broadband Series C common stock, par value $0.01 per share (the “Series C Shares”), at a price per share of $56.23, which was determined based upon the fair value of Liberty Broadband’s net assets on a sum-of-the parts basis at the time certain Amended and Restated Investment Agreements were executed. The purchasers of the Series C Shares were Liberty Interactive through its Liberty Ventures Group (approximately 42.7 million shares) and certain other third party investors, which all invested on substantially similar terms. One of the third party investors also held a position in Time Warner Cable and agreed to vote its Time Warner Cable shares in favor of the Time Warner Cable Merger. Each of Legacy Charter and Liberty Broadband obtained stockholder approval during September 2015 for the issuance of the Charter shares and the Series C Shares, respectively, in accordance with the rules and requirements of the Nasdaq Stock Market. The issuance of the Series C Shares was not registered under the Securities Act of 1933, as amended (the “Securities Act”), in reliance on the exemption from registration provided by Section 4(a)(2) of the Securities Act and the rules and regulations of the Securities and Exchange Commission promulgated thereunder. As a result of the issuance of the Series C Shares in connection with the Transactions, Liberty Interactive’s non-voting economic ownership in Liberty Broadband was 23.5% as of December 31, 2016. As discussed in note 4, the Company had an outstanding zero-strike call option on 704,908 Series C Shares at December 31, 2016, which expired in March 2017. The Company prepaid a premium of $47.9 million in December 2016. Liberty Broadband exercised its option to settle the contract in cash in March 2017 for cash proceeds of $50.0 million. The Company entered into another zero-strike call option on 527,156 shares of Liberty Broadband Series C common stock and prepaid a premium of $47.7 million in October 2017. Upon expiration of the contract in December 2017, the Company physically settled the contract by purchasing 527,156 shares of Liberty Broadband Series C common stock at a price of $90.54 per share. As of December 31, 2018, the Company had no zero-strike call options outstanding. The Company accounted for the zero-strike call option as a financial instrument asset due to its settlement provisions. Accordingly, changes in the fair value of the asset are included in realized and unrealized gains (losses) on financial instruments in the accompanying statement of operations. Preferred Stock Liberty Broadband's preferred stock is issuable, from time to time, with such designations, preferences and relative participating, optional or other rights, qualifications, limitations or restrictions thereof, as shall be stated and expressed in a resolution or resolutions providing for the issue of such preferred stock adopted by Liberty Broadband's board of directors. As of December 31, 2018, no shares of preferred stock were issued. Common Stock Liberty Broadband's Series A common stock has one vote per share, Liberty Broadband's Series B common stock has ten votes per share and Liberty Broadband’s Series C common stock has no votes per share (except as otherwise required by applicable law). Each share of the Series B common stock is exchangeable at the option of the holder for one share of Series A common stock. All series of our common stock participate on an equal basis with respect to dividends and distributions. As of December 31, 2018, there were 393 thousand shares of Series A and 2.4 million shares of Series C common stock reserved for issuance under exercise privileges of outstanding stock options.

Stock-Based Compensation

Stock-Based Compensation	12 Months Ended
	Dec. 31, 2018
Stock-Based Compensation
Stock-Based Compensation	(9) Stock-Based Compensation Included in the accompanying consolidated statements of operations are the following amounts of stock-based compensation for the years ended December 31, 2018, 2017 and 2016 (amounts in thousands). December 31, 2018 2017 2016 Operating expense $ 4 (2) — Selling, general and administrative 5,599 5,114 5,555 Research and development 104 180 158 $ 5,707 5,292 5,713 Liberty Broadband - Incentive Plans Pursuant to the Liberty Broadband 2014 Omnibus Incentive Plan, as amended, the Company may grant Awards to be made in respect of a maximum of 8.4 million shares of Liberty Broadband common stock. Awards generally vest over 1-5 years and have a term of 7-10 years. Liberty Broadband issues new shares upon exercise of equity awards. Liberty Broadband – Grants of Stock Options During the years ended December 31, 2018, 2017 and 2016, Liberty Broadband granted 10 thousand, 16 thousand and 17 thousand options, respectively, to purchase shares of Series C common stock to its non-employee directors with a weighted average grant-date fair value (“GDFV”) of $24.04, $22.68 and $18.64 per share, respectively, which cliff vest over a one year vesting period. There were no options to purchase shares of Series A common stock granted during the period. The Company has calculated 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. For grants made in 2018, 2017 and 2016, the range of expected terms was 4.7 to 5.3 years. 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. For grants made in 2018, 2017 and 2016, the range of volatilities was 24.4% to 26.2%. The Company uses a zero dividend rate and the risk-free rate for Treasury Bonds with a term similar to that of the subject option. 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 (11) $ 27.75 Forfeited/Cancelled — $ — Outstanding at December 31, 2018 393 $ 33.31 1.0 $ 15 Exercisable at December 31, 2018 393 $ 33.28 1.0 $ 15 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 10 $ 82.46 Exercised (42) $ 29.15 Forfeited/Cancelled — $ — Outstanding at December 31, 2018 2,356 $ 43.77 4.3 $ 67 Exercisable at December 31, 2018 1,594 $ 41.49 3.5 $ 49 The Company had no outstanding Series B options during 2018. As of December 31, 2018, the total unrecognized compensation cost related to unvested Liberty Broadband Awards was approximately $4.8 million. Such amount will be recognized in the Company’s consolidated statements of operations over a weighted average period of approximately 1 year. As of December 31, 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. Liberty Broadband – Exercises The aggregate intrinsic value of all options exercised during the years ended December 31, 2018, 2017 and 2016 was $3.0 million, $8.1 million and $14.4 million, respectively. Liberty Broadband – Restricted Shares The aggregate fair value of all Series A and Series C restricted shares of Liberty Broadband common stock that vested during the years ended December 31, 2018, 2017 and 2016 was $112 thousand, $116 thousand and $674 thousand, respectively. As of December 31, 2018, the Company had approximately 24 thousand unvested restricted shares of Series A and Series C Liberty Broadband common stock held by certain directors, officers and employees of the Company with a weighted average GDFV of $15.33 per share. Skyhook equity incentive plans Long-Term Incentive Plans Skyhook has a long-term incentive plan which provides for the granting of PARs and PSUs to employees, directors, and consultants of Skyhook that is not significant to Liberty Broadband. As of December 31, 2018 and 2017, $1.1 million and $1.2 million, respectively, are included in other liabilities for the fair value (Level 2) of the Company's LTIP obligations.

Employee Benefit Plans

Employee Benefit Plans	12 Months Ended
	Dec. 31, 2018
Employee Benefit Plans
Employee Benefit Plans	(10) Employee Benefit Plans Prior to January 1, 2015, Skyhook participated in Liberty’s defined-contribution plan (the “Liberty 401(k) Plan”). Employees of Skyhook participate in a separate defined-contribution plan administered by Skyhook (the “Skyhook 401(k) Plan”). The Skyhook 401(k) Plan provides for employees to make contributions by salary reductions for investment in several mutual funds and/or a self-directed brokerage account pursuant to Section 401(k) of the Internal Revenue Code. Pursuant to the existing Skyhook 401(k) Plan, Skyhook employees are eligible for 100% matching contributions for each dollar contributed up to 10%, subject to certain limitations. For the years ended December 31, 2018, 2017 and 2016, Skyhook contributed approximately $0.8 million, $1.0 million and $0.8 million respectively.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2018
Commitments and Contingencies
Commitments and Contingencies	(11) Commitments and Contingencies Leases Skyhook leases various properties under operating leases expiring at various times through 2021. The aggregate minimum annual lease payments under the noncancelable operating leases as of December 31, 2018 are as follows (amounts in thousands): 2019 $ 545 2020 132 $ 677 Skyhook’s two principal facilities are under lease through December 2019 and December 2020, respectively. Total rental expense for the years ended December 31, 2018, 2017 and 2016 was $1.0 million, $1.1 million and $2.4 million, respectively. General Litigation In the ordinary course of business, the Company and its consolidated subsidiaries 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 consolidated financial statements. 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	12 Months Ended
	Dec. 31, 2018
Segment Information
Segment Information	(12) 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 cost of sales, 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 year ended December 31, 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. For periods in which Liberty Broadband owned Charter shares and warrants, 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 consolidated financial statements. Performance Measures Years ended December 31, 2018 2017 2016 Adjusted Adjusted Adjusted Revenue OIBDA Revenue OIBDA Revenue OIBDA amounts in thousands Skyhook $ 22,256 3,161 13,092 (9,496) 30,586 (2,681) Charter 43,634,000 15,824,000 41,581,000 14,955,000 29,003,000 9,607,000 Corporate and other — (6,689) — (6,920) — (8,761) 43,656,256 15,820,472 41,594,092 14,938,584 29,033,586 9,595,558 Eliminate equity method affiliate (43,634,000) (15,824,000) (41,581,000) (14,955,000) (29,003,000) (9,607,000) Consolidated Liberty Broadband $ 22,256 (3,528) 13,092 (16,416) 30,586 (11,442) Other Information December 31, 2018 December 31, 2017 Total Investments Capital Total Investments Capital assets in affiliates expenditures assets in affiliates expenditures amounts in thousands Skyhook $ 21,763 — 41 24,481 — 70 Charter 146,130,000 — 9,125,000 146,623,000 — 8,681,000 Corporate and other 12,076,674 12,004,376 — 11,907,308 11,835,613 — 158,228,437 12,004,376 9,125,041 158,554,789 11,835,613 8,681,070 Eliminate equity method affiliate (146,130,000) — (9,125,000) (146,623,000) — (8,681,000) Consolidated Liberty Broadband $ 12,098,437 12,004,376 41 11,931,789 11,835,613 70 Revenue by Geographic Area Years ended December 31, 2018 2017 2016 amounts in thousands United States $ 19,946 10,315 27,806 Other countries 2,310 2,777 2,780 $ 22,256 13,092 30,586 The following table provides a reconciliation of segment Adjusted OIBDA to Operating income (loss) and earnings (loss) from continuing operations before income taxes: Years ended December 31, 2018 2017 2016 amounts in thousands Consolidated segment Adjusted OIBDA $ (3,528) (16,416) (11,442) Stock-based compensation (5,707) (5,292) (5,713) Depreciation and amortization (2,779) (3,770) (4,005) Operating income (loss) (12,014) (25,478) (21,160) Interest expense (23,302) (19,570) (14,956) Dividend and interest income 881 1,449 5,020 Share of earnings (loss) of affiliates, net 166,146 2,508,991 641,544 Realized and unrealized gains (losses) on financial instruments, net 3,659 3,098 94,122 Gain (loss) on dilution of investment in affiliate (43,575) (17,872) 770,766 Other, net 82 (18) 336 Earnings (loss) from continuing operations before income taxes $ 91,877 2,450,600 1,475,672

Quarterly Financial Information

Quarterly Financial Information (Unaudited)	12 Months Ended
	Dec. 31, 2018
Quarterly Financial Information Disclosure [Abstract]
Quarterly Financial Information (Unaudited)	(13) Quarterly Financial Information (Unaudited) 1 st 2 nd 3 rd 4 th Quarter Quarter Quarter Quarter amounts in thousands, except per share amounts 2018: Revenue $ 11,791 3,371 3,518 3,576 Operating income (loss) $ 2,246 (5,071) (4,096) (5,093) Net earnings (loss) attributable to Liberty Broadband Corporation Series A, Series B and Series C stockholders $ (15,070) 10,580 59,639 14,804 Basic earnings (loss) attributable to Liberty Broadband Corporation Series A, Series B and Series C stockholders per common share $ (0.08) 0.06 0.33 0.08 Diluted earnings (loss) attributable to Liberty Broadband Corporation Series A, Series B and Series C stockholders per common share $ (0.08) 0.06 0.33 0.08 1 st 2 nd 3 rd 4 th Quarter Quarter Quarter Quarter amounts in thousands, except per share amounts 2017: Revenue $ 3,140 3,073 3,430 3,449 Operating income (loss) $ (6,362) (7,333) (5,787) (5,996) Net earnings (loss) attributable to Liberty Broadband Corporation Series A, Series B and Series C stockholders $ (14,445) (2,977) (9,864) 2,060,953 Basic earnings (loss) attributable to Liberty Broadband Corporation Series A, Series B and Series C stockholders per common share $ (0.08) (0.02) (0.05) 11.37 Diluted earnings (loss) attributable to Liberty Broadband Corporation Series A, Series B and Series C stockholders per common share $ (0.08) (0.02) (0.05) 11.28

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2018
Summary of Significant Accounting Policies
Cash and Cash Equivalents	Cash and Cash Equivalents Cash consists of cash deposits held in global financial institutions. Cash equivalents consist of highly liquid investments with original maturities of three months or less at the time of acquisition. Cash that has restrictions upon its usage has been excluded from cash and cash equivalents.
Derivative Instruments and Hedging Activities	Derivative Instruments and Hedging Activities All of the Company’s derivatives, whether designated in hedging relationships or not, are recorded on the balance sheet at fair value. None of the Company’s derivatives are currently designated as hedges, as a result, changes in the fair value of the derivative are recognized in earnings. The fair value of certain of the Company’s derivative instruments are estimated using the Black Scholes Merton option-pricing model (“Black-Scholes model”). The Black-Scholes model incorporates a number of variables in determining such fair values, including expected volatility of the underlying security and an appropriate discount rate. The Company obtained volatility rates from pricing services based on the expected volatility of the underlying security over the remaining term of the derivative instrument. A discount rate was obtained at the inception of the derivative instrument and updated each reporting period, based on the Company’s estimate of the discount rate at which it could currently settle the derivative instrument. The Company considered its own credit risk as well as the credit risk of its counterparties in estimating the discount rate. Management judgment was required in estimating the Black-Scholes variables. The Company had no outstanding derivative instruments at December 31, 2018 or December 31, 2017.
Equity Method Investments	Investment in Equity Method Affiliate For those investments in affiliates in which the Company has the ability to exercise significant influence, the equity method of accounting is used. Under this method, the investment, originally recorded at cost, is adjusted to recognize the Company’s share of net earnings or losses of the affiliate as they occur rather than as dividends or other distributions are received. Losses are limited to the extent of the Company’s investment in, advances to and commitments for the investee. The Company determines the difference between the purchase price of the investee and the underlying equity which results in an excess basis in the investment. This excess basis is allocated to the underlying assets and liabilities of the Company’s investee through a purchase accounting exercise and is allocated within memo accounts used for equity accounting purposes. Depending on the applicable underlying assets, these amounts are either amortized over the applicable useful lives or determined to be indefinite lived. Changes in the Company’s proportionate share of the underlying equity of an equity method investee, which result from the issuance of additional equity securities by such equity investee, are recognized in the statement of operations through the gain (loss) on dilution of investment in affiliate line item. We periodically evaluate our equity method investment to determine if decreases in fair value below our cost basis are other than temporary. If a decline in fair value is determined to be other than temporary, we are required to reflect such decline in our consolidated statement of operations. Other than temporary declines in fair value of our equity method investment would be included in share of earnings (losses) of affiliate in our consolidated statement of operations. The primary factors we consider in our determination of whether declines in fair value are other than temporary are the length of time that the fair value of the investment is below our carrying value; the severity of the decline; and the financial condition, operating performance and near term prospects of the investee. In addition, we consider the reason for the decline in fair value, be it general market conditions, industry specific or investee specific; analysts' ratings and estimates of 12 month share price targets for the investee; changes in stock price or valuation subsequent to the balance sheet date; and our intent and ability to hold the investment for a period of time sufficient to allow for a recovery in fair value. Fair value of our publicly traded cost and equity investments is based on the market prices of the investments at the balance sheet date. Impairments are calculated as the difference between our carrying value and our estimate of fair value. As our assessment of the fair value of our investments and any resulting impairment losses and the timing of when to recognize such charges requires a high degree of judgment and includes significant estimates and assumptions, actual results could differ materially from our estimates and assumptions. As Liberty Broadband does not control the decision making process or business management practices of our affiliate accounted for using the equity method, Liberty Broadband relies on management of its 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 the audit reports that are provided by the affiliate’s independent auditors 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 consolidated financial statements. See note 5 for additional discussion regarding our investment in Charter and the Transactions that occurred during the second quarter of 2016.
Foreign Currency Translation and Transaction Gains and Losses	Foreign Currency Translation and Transaction Gains and Losses The functional currency of the Company is the United States (“U.S.”) dollar. Transactions denominated in currencies other than the functional currency are recorded based on exchange rates at the time such transactions arise. Subsequent changes in exchange rates result in transaction gains and losses which are reflected in the accompanying consolidated statements of operations and comprehensive earnings (loss) as unrealized (based on the applicable period end exchange rate) or realized upon settlement of the transactions.
Revenue Recognition	Revenue Recognition 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 consolidated statement of operations was not meaningful for the year ended December 31, 2018, and we do not expect it to be meaningful going forward. 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, $4.2 million was recognized as revenue during the year ended December 31, 2018. At December 31, 2018, the related balance consisted of $4.3 million and $1.9 million, included in deferred revenue and other current liabilities, and other liabilities, respectively. Of this $6.2 million that was recorded as deferred revenue, we expect to recognize approximately 96% 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.
Research and Development Costs	Research and Development Costs Research and development costs are expensed as incurred.
Stock‑Based Compensation	Stock-Based Compensation As more fully described in note 9, Liberty Broadband has granted to its directors, employees and employees of certain of its subsidiaries, restricted stock and stock options to purchase shares of Liberty Broadband common stock (collectively, “Awards”). Liberty Broadband 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 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). Liberty Broadband 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. Certain outstanding awards of Liberty were assumed by Liberty Broadband at the time of the Broadband Spin-Off. Additionally, Skyhook sponsors long-term incentive plans (“LTIPs”) which provide for the granting of phantom stock units (“PSUs”), and phantom stock appreciation rights (“PARs”) to employees, directors, and consultants of Skyhook. Skyhook measures the cost of employee services received in exchange for awards of equity instruments based on the grant-date fair value of the award and recognizes that cost ratably over the period during which the employee is required to provide service (usually the vesting period of the award). Skyhook measures the cost of employee services received in exchange for awards of liability instruments (such as PSUs and PARs that will be settled in cash) based on the current fair value of the award, and remeasures the fair value of the award at each reporting date. The consolidated statements of operations includes stock-based compensation related to Skyhook awards. In March 2016, the FASB issued new guidance which simplifies several aspects of the accounting for share-based payment award transactions, including the income tax consequences, forfeitures, classification of awards as either equity or liabilities, and classification on the statement of cash flows. The new standard is effective for the Company for fiscal years and interim periods beginning after December 15, 2016, with early application permitted. The Company adopted this guidance in the third quarter of 2016. In accordance with the new guidance, excess tax benefits and tax deficiencies are recognized as income tax benefit or expense rather than as additional paid-in capital. The Company has elected to recognize forfeitures as they occur rather than continue to estimate expected forfeitures. In addition, pursuant to the new guidance, excess tax benefits are classified as an operating activity on the consolidated statements of cash flows. The recognition of excess tax benefits and deficiencies are applied prospectively from January 1, 2016. Based on the Company’s analysis, no cumulative effect adjustment to retained earnings was necessary for tax benefits that were not previously recognized and for adjustments to compensation cost based on actual forfeitures. There were no excess tax benefits reclassified for the year ended December 31, 2016.
Income taxes	Income Taxes The Company accounts for income taxes using the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying value amounts and income tax bases of assets and liabilities and the expected benefits of utilizing net operating loss and tax credit carryforwards. The deferred tax assets and liabilities are calculated using enacted tax rates in effect for each taxing jurisdiction in which the Company operates for the year in which those temporary differences are expected to be recovered or settled. Net deferred tax assets are then reduced by a valuation allowance if the Company believes it more likely than not that such net deferred tax assets will not be realized. We consider all relevant factors when assessing the likelihood of future realization of our deferred tax assets, including our recent earnings experience by jurisdiction, expectations of future taxable income, and the carryforward periods available to us for tax reporting purposes, as well as assessing available tax planning strategies. The effect on deferred tax assets and liabilities of an enacted change in tax rates is recognized in income in the period that includes the enactment date. Due to inherent complexities arising from the nature of our businesses, future changes in income tax law, tax sharing agreements or variances between our actual and anticipated operating results, we make certain judgments and estimates. Therefore, actual income taxes could materially vary from these estimates. When the tax law requires interest to be paid on an underpayment of income taxes, the Company recognizes interest expense from the first period the interest would begin accruing according to the relevant tax law. Such interest expense is included in interest expense in the accompanying consolidated statements of operations. Any accrual of penalties related to underpayment of income taxes on uncertain tax positions is included in other income (expense) in the accompanying consolidated statements of operations. We recognize in our consolidated financial statements the impact of a tax position, if that position is more likely than not to be sustained upon an examination, based on the technical merits of the position.
Certain Risks and Concentrations	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 66% of total revenue for the year ended December 31, 2018, and 57% of total revenue for both of the years ended December 31, 2017 and 2016.
Contingent Liabilities	Contingent Liabilities Periodically, we review the status of all significant outstanding matters to assess any potential financial exposure. When (i) it is probable that an asset has been impaired or a liability has been incurred and (ii) the amount of the loss can be reasonably estimated, we record the estimated loss in our consolidated statements of operations. We provide disclosure in the notes to the consolidated financial statements for loss contingencies that do not meet both these conditions if there is a reasonable possibility that a loss may have been incurred that would be material to the financial statements. Significant judgment is required to determine the probability that a liability has been incurred and whether such liability is reasonably estimable. We base accruals made on the best information available at the time which can be highly subjective. The final outcome of these matters could vary significantly from the amounts included in the accompanying consolidated financial statements.
Comprehensive Earnings (Loss)	Comprehensive Earnings (Loss) Comprehensive earnings (loss) consists of net earnings (loss), cumulative foreign currency translation adjustments, unrealized gains and losses on available-for-sale securities, net of tax and the Company’s share of the comprehensive earnings (loss) of our equity method affiliate.
Earnings per Share (EPS)	Earnings per Share (EPS) Basic earnings (loss) per common share (“EPS”) is computed by dividing net earnings (loss) by the weighted average number of common shares outstanding 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. Years ended December 31, 2018 2017 2016 number of shares in thousands Basic WASO 181,325 181,772 152,103 Potentially dilutive shares 1,264 1,374 749 Diluted WASO 182,589 183,146 152,852 Potential common shares excluded from diluted EPS because their inclusion would be antidilutive for the years ended December 31, 2018, 2017 and 2016 are approximately 10 thousand, zero, and 17 thousand, respectively.
Reclasses and adjustments	Reclasses and adjustments Certain prior period amounts have been reclassified for comparability with the current year presentation.
Estimates	Estimates 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 its affiliates and accounting for income taxes to be its most significant estimates.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2018
Summary of Significant Accounting Policies
Schedule of weighted average number of shares	Years ended December 31, 2018 2017 2016 number of shares in thousands Basic WASO 181,325 181,772 152,103 Potentially dilutive shares 1,264 1,374 749 Diluted WASO 182,589 183,146 152,852

Assets and Liabilities Measur_2

Assets and Liabilities Measured at Fair Value (Tables)	12 Months Ended
	Dec. 31, 2018
Assets and Liabilities Measured at Fair Value
Schedule of assets and liabilities measured at fair value	December 31, 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 $ 67,329 67,329 — 76,304 76,304 —
Schedule of realized and unrealized gains (losses) on financial instruments	Years ended December 31, 2018 2017 2016 (amounts in thousands) Time Warner Cable investment (1) $ — — 92,990 Derivative instruments (2) 3,659 3,098 1,132 $ 3,659 3,098 94,122 (1) As discussed in note 5, Time Warner Cable merged with Charter on May 18, 2016. Therefore the Company no longer has an investment in Time Warner Cable as of May 18, 2016, and the unrealized gain (loss) related to our investment in Time Warner Cable is recorded through this date. In connection with the merger, the Company exchanged, in a tax-free transaction, its shares of Time Warner Cable for shares of Charter Class A common stock. (2) During the year ended December 31, 2016, the Company entered into a zero-strike call option on Liberty Broadband Series C common stock and prepaid a premium of $47.9 million. During the year ended December 31, 2017, the Company entered into and settled additional zero-strike call options and paid an aggregate of $149.4 million and received an aggregate of $155.7 million from the counterparty. Additionally, in 2017, the Company physically settled one of the contracts (see note 8 in the accompanying notes to the consolidated financial statements for additional discussion). During the year ended December 31, 2018, the Company continued to enter into and settle zero-strike call options and paid an aggregate of $142.8 million and received an aggregate of $146.5 million from the counterparty. The Company had no outstanding zero-strike call options as of December 31, 2018 and 2017.

Investment in Charter Account_2

Investment in Charter Accounted for Using the Equity Method (Tables)	12 Months Ended
	Dec. 31, 2018
Investment in Charter Accounted for Using the Equity Method
Schedule of allocation of excess basis within memo accounts used for equity accounting purposes	Such amount has been allocated within memo accounts used for equity method accounting purposes as follows (amounts in millions): Years ended December 31, 2018 2017 Property and equipment $ 328 361 Customer relationships 721 689 Franchise fees 1,821 1,670 Trademarks 29 29 Goodwill 1,202 986 Debt (105) (98) Deferred income tax liability (698) (662) $ 3,298 2,975
Summary of financial information for Charter	Consolidated Balance Sheets December 31, December 31, 2018 2017 amounts in millions Current assets $ 2,944 2,555 Property and equipment, net 35,126 33,888 Goodwill 29,554 29,554 Intangible assets 76,884 79,270 Other assets 1,622 1,356 Total assets $ 146,130 146,623 Current liabilities $ 12,095 11,090 Deferred income taxes 17,389 17,314 Long-term debt 69,537 68,186 Other liabilities 2,837 2,502 Equity 44,272 47,531 Total liabilities and equity $ 146,130 146,623 Consolidated Statements of Operations Years ended December 31, 2018 2017 2016 amounts in millions Revenue $ 43,634 41,581 29,003 Cost and expenses: Operating costs and expenses (excluding depreciation and amortization) 27,860 26,541 18,655 Depreciation and amortization 10,318 10,588 6,907 Other operating expenses, net 235 346 985 38,413 37,475 26,547 Operating income 5,221 4,106 2,456 Interest expense (3,540) (3,090) (2,499) Loss on extinguishment of debt — (40) (111) Other income (expense), net 5 52 974 Income tax (expense) benefit (180) 9,087 2,925 Net earnings (loss) 1,506 10,115 3,745 Less: Net income attributable to noncontrolling interests (276) (220) (223) Net Income (loss) attributable to Charter shareholders $ 1,230 9,895 3,522

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2018
Income Taxes
Schedule of income tax expense	Years ended December 31, 2018 2017 2016 amounts in thousands Current: Federal $ — (11) 1,556 State and local (355) (84) 853 (355) (95) 2,409 Deferred: Federal (17,501) (301,837) (493,890) State and local (4,068) (115,001) (66,888) (21,569) (416,838) (560,778) Income tax benefit (expense) $ (21,924) (416,933) (558,369)
Schedule of income tax expense reconciliation to the effective tax rate	Years ended December 31, 2018 2017 2016 amounts in thousands Computed expected tax benefit (expense) $ (19,294) (857,710) (516,485) State and local taxes, net of federal income taxes (3,831) (74,805) (42,995) Foreign taxes, net of foreign tax credit — — (1,180) Change in valuation allowance 380 (1,208) 683 Dividends received deduction — — 931 Change in tax rate - other (27) — 45 Change in tax rate - U.S. tax reform — 515,773 — Derivative instrument 768 1,084 396 Other 80 (67) 236 Income tax (expense) benefit $ (21,924) (416,933) (558,369)
Schedule of deferred tax assets and liabilities	December 31, 2018 2017 amounts in thousands Deferred tax assets: Tax loss and tax credit carryforwards $ 56,056 49,555 Accrued stock-based compensation 5,571 4,275 Deferred revenue 1,430 1,805 Other 44 64 Total deferred tax assets 63,101 55,699 Less: valuation allowance (7,773) (8,153) Net deferred tax assets 55,328 47,546 Deferred tax liabilities: Investments (1,020,869) (979,522) Intangible assets (261) (617) Other (27) — Total deferred tax liabilities (1,021,157) (980,139) Net deferred tax asset (liability) $ (965,829) (932,593)

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2018
Schedule of stock-based compensation expense	Included in the accompanying consolidated statements of operations are the following amounts of stock-based compensation for the years ended December 31, 2018, 2017 and 2016 (amounts in thousands). December 31, 2018 2017 2016 Operating expense $ 4 (2) — Selling, general and administrative 5,599 5,114 5,555 Research and development 104 180 158 $ 5,707 5,292 5,713
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 (11) $ 27.75 Forfeited/Cancelled — $ — Outstanding at December 31, 2018 393 $ 33.31 1.0 $ 15 Exercisable at December 31, 2018 393 $ 33.28 1.0 $ 15
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 10 $ 82.46 Exercised (42) $ 29.15 Forfeited/Cancelled — $ — Outstanding at December 31, 2018 2,356 $ 43.77 4.3 $ 67 Exercisable at December 31, 2018 1,594 $ 41.49 3.5 $ 49

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2018
Commitments and Contingencies
Schedule of aggregate minimum annual lease payments	The aggregate minimum annual lease payments under the noncancelable operating leases as of December 31, 2018 are as follows (amounts in thousands): 2019 $ 545 2020 132 $ 677

Segment Information (Tables)

Segment Information (Tables)	12 Months Ended
	Dec. 31, 2018
Segment Information
Schedule of performance measures	Performance Measures Years ended December 31, 2018 2017 2016 Adjusted Adjusted Adjusted Revenue OIBDA Revenue OIBDA Revenue OIBDA amounts in thousands Skyhook $ 22,256 3,161 13,092 (9,496) 30,586 (2,681) Charter 43,634,000 15,824,000 41,581,000 14,955,000 29,003,000 9,607,000 Corporate and other — (6,689) — (6,920) — (8,761) 43,656,256 15,820,472 41,594,092 14,938,584 29,033,586 9,595,558 Eliminate equity method affiliate (43,634,000) (15,824,000) (41,581,000) (14,955,000) (29,003,000) (9,607,000) Consolidated Liberty Broadband $ 22,256 (3,528) 13,092 (16,416) 30,586 (11,442)
Schedule of segment reporting information	Other Information December 31, 2018 December 31, 2017 Total Investments Capital Total Investments Capital assets in affiliates expenditures assets in affiliates expenditures amounts in thousands Skyhook $ 21,763 — 41 24,481 — 70 Charter 146,130,000 — 9,125,000 146,623,000 — 8,681,000 Corporate and other 12,076,674 12,004,376 — 11,907,308 11,835,613 — 158,228,437 12,004,376 9,125,041 158,554,789 11,835,613 8,681,070 Eliminate equity method affiliate (146,130,000) — (9,125,000) (146,623,000) — (8,681,000) Consolidated Liberty Broadband $ 12,098,437 12,004,376 41 11,931,789 11,835,613 70
Schedule of revenue by geographic area	Years ended December 31, 2018 2017 2016 amounts in thousands United States $ 19,946 10,315 27,806 Other countries 2,310 2,777 2,780 $ 22,256 13,092 30,586
Schedule of reconciliation of segment Adjusted OIBDA to earnings (loss) before income taxes	Years ended December 31, 2018 2017 2016 amounts in thousands Consolidated segment Adjusted OIBDA $ (3,528) (16,416) (11,442) Stock-based compensation (5,707) (5,292) (5,713) Depreciation and amortization (2,779) (3,770) (4,005) Operating income (loss) (12,014) (25,478) (21,160) Interest expense (23,302) (19,570) (14,956) Dividend and interest income 881 1,449 5,020 Share of earnings (loss) of affiliates, net 166,146 2,508,991 641,544 Realized and unrealized gains (losses) on financial instruments, net 3,659 3,098 94,122 Gain (loss) on dilution of investment in affiliate (43,575) (17,872) 770,766 Other, net 82 (18) 336 Earnings (loss) from continuing operations before income taxes $ 91,877 2,450,600 1,475,672

Quarterly Financial Informati_2

Quarterly Financial Information (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2018
Quarterly Financial Information Disclosure [Abstract]
Schedule of Quarterly Financial Information	1 st 2 nd 3 rd 4 th Quarter Quarter Quarter Quarter amounts in thousands, except per share amounts 2018: Revenue $ 11,791 3,371 3,518 3,576 Operating income (loss) $ 2,246 (5,071) (4,096) (5,093) Net earnings (loss) attributable to Liberty Broadband Corporation Series A, Series B and Series C stockholders $ (15,070) 10,580 59,639 14,804 Basic earnings (loss) attributable to Liberty Broadband Corporation Series A, Series B and Series C stockholders per common share $ (0.08) 0.06 0.33 0.08 Diluted earnings (loss) attributable to Liberty Broadband Corporation Series A, Series B and Series C stockholders per common share $ (0.08) 0.06 0.33 0.08 1 st 2 nd 3 rd 4 th Quarter Quarter Quarter Quarter amounts in thousands, except per share amounts 2017: Revenue $ 3,140 3,073 3,430 3,449 Operating income (loss) $ (6,362) (7,333) (5,787) (5,996) Net earnings (loss) attributable to Liberty Broadband Corporation Series A, Series B and Series C stockholders $ (14,445) (2,977) (9,864) 2,060,953 Basic earnings (loss) attributable to Liberty Broadband Corporation Series A, Series B and Series C stockholders per common share $ (0.08) (0.02) (0.05) 11.37 Diluted earnings (loss) attributable to Liberty Broadband Corporation Series A, Series B and Series C stockholders per common share $ (0.08) (0.02) (0.05) 11.28

Basis of Presentation (Details)

Basis of Presentation (Details) $ in Millions	Dec. 10, 2014	Oct. 29, 2014	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	May 18, 2016
Broadband Spin-Off Distribution Ratio		0.25
Charter
Voting interest acquired (as a percent)					25.01%
Liberty
Related Party Transaction, Amounts of Transaction			$ 3.5	$ 3.2
Series C common stock
Subscription rights distribution ratio	0.20

Description of Business (Detail

Description of Business (Details) - Skyhook $ in Millions	Feb. 14, 2014USD ($)	Dec. 31, 2018item
Business Acquisition [Line Items]
Number Of Primary Products | item		2
Skyhook
Business Acquisition [Line Items]
Voting interest acquired (as a percent)	100.00%
Cash paid for acquisition | $	$ 57.5

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details) - USD ($) shares in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Jan. 01, 2018	Dec. 31, 2015
Derivative Asset	$ 0	$ 0
Retained earnings	2,650,669,000	2,568,764,000
Other current assets	1,471,000	2,797,000
Deferred income tax liabilities	965,829,000	932,593,000
Deferred revenue and other current liabilities	4,691,000	$ 5,168,000
Deferred revenue current	4,300,000			$ 4,500,000
Deferred revenue noncurrent	1,900,000			2,300,000
Deferred revenue	6,200,000			6,800,000
Revenue recognized	$ 4,200,000
Revenue recognized percentage	96.00%
Practical expedient modified contract	true
Cumulative Effect of New Accounting Principle in Period of Adoption	$ 10,729,000
Basic WASO	181,325	181,772	152,103
Potentially dilutive shares	1,264	1,374	749
Diluted WASO	182,589	183,146	152,852
Antidilutive shares excluded	10	0	17
ASU 2016-09
Cumulative Effect of New Accounting Principle in Period of Adoption		$ 17,361,000			$ 0
Excess Tax Benefit from Share-based Compensation, Operating Activities			$ 0
ASU 2014-09
Cumulative Effect of New Accounting Principle in Period of Adoption	$ 1,223,000
Minimum
Revenue recognized period	1 year
Maximum
Revenue recognized period	3 years
Adjustment | ASU 2014-09
Retained earnings				1,200,000
Other current assets				300,000
Deferred income tax liabilities				400,000
Deferred revenue and other current liabilities				$ (1,300,000)
Skyhook | Significant customer | Revenue | Customer concentration
Customer concentration (as a percent)	66.00%	57.00%	57.00%

Assets and Liabilities Measur_3

Assets and Liabilities Measured at Fair Value (Details) - USD ($)	Oct. 03, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Recurring
Assets and Liabilities Measured at Fair Value
Cash equivalents			$ 67,329,000	$ 76,304,000
Level 1 | Recurring
Assets and Liabilities Measured at Fair Value
Cash equivalents			$ 67,329,000	$ 76,304,000
Series C common stock | Zero-strike call option | Call Option
Assets and Liabilities Measured at Fair Value
Derivative underlying share amount	527,156		0	0	704,908
Derivative premium paid	$ 47,700,000		$ 142,800,000	$ 149,400,000	$ 47,900,000
Derivative settlement proceeds		$ 50,000,000	$ 146,500,000	$ 155,700,000

Assets and Liabilities Measur_4

Assets and Liabilities Measured at Fair Value (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Realized and Unrealized Gains (Losses) on Financial Instruments
Realized and unrealized gains (losses)	$ 3,659,000	$ 3,098,000	$ 94,122,000
Zero-strike call option
Realized and Unrealized Gains (Losses) on Financial Instruments
Realized and unrealized gains (losses)	$ 3,659,000	$ 3,098,000	1,132,000
Time Warner Cable | Investment
Realized and Unrealized Gains (Losses) on Financial Instruments
Realized and unrealized gains (losses)			$ 92,990,000

Investments in Charter Accounte

Investments in Charter Accounted for Using the Equity Method (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2016	Dec. 31, 2017
Investments in affiliates accounted for using the Equity Method
Cash paid to acquire equity method investments		$ 5,000,000
Charter
Investments in affiliates accounted for using the Equity Method
Equity Method Investment, Difference Between Carrying Amount and Underlying Equity	$ 3,298,000		$ 2,975,000
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	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Jan. 01, 2018	Dec. 31, 2015
Investments in affiliates accounted for using the Equity Method
Carrying value of equity method investment	$ 12,004,376	$ 11,835,613
Excess basis allocation within memo accounts
Income (Loss) from Equity Method Investments	166,146	2,508,991	$ 641,544
Gain (loss) on dilution of investment in affiliate	(43,575)	(17,872)	770,766
Other assets	9,487	12,122
Accounts payable and accrued liabilities	3,504	5,381
Deferred income tax liabilities	965,829	932,593
Total equity	10,598,618	10,486,901	8,473,092		$ 3,148,219
Charter
Investments in affiliates accounted for using the Equity Method
Carrying value of equity method investment	12,004,000
Market value of equity method investment	$ 15,409,000
Ownership percentage	24.00%
Other Comprehensive Income Loss From Equity Method Investments	$ 172	768	811
Other Comprehensive Income Loss From Equity Method Investments Before Tax	200	1,200	1,300
Excess basis allocation within memo accounts
Property and equipment	328,000	361,000
Customer relationships	721,000	689,000
Franchise fees	1,821,000	1,670,000
Trademarks	29,000	29,000
Goodwill	1,202,000	986,000
Debt	(105,000)	(98,000)
Deferred income tax liability	(698,000)	(662,000)
Total	3,298,000	2,975,000
Income (Loss) from Equity Method Investments	166,000	2,509,000	642,000
Amortization of Deferred Charges	119,000	277,000	42,000
Gain (loss) on dilution of investment in affiliate	$ (44,000)	$ (18,000)	$ 771,000
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
Total equity	$ 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	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Charter consolidated balance sheet
Current assets	$ 2,944	$ 2,555
Property and equipment, net	35,126	33,888
Goodwill	29,554	29,554
Intangible assets, net	76,884	79,270
Other assets	1,622	1,356
Total assets	146,130	146,623
Current liabilities	12,095	11,090
Deferred income taxes	17,389	17,314
Long-term debt	69,537	68,186
Other liabilities	2,837	2,502
Equity	44,272	47,531
Total liabilities and shareholders' equity	146,130	146,623
Charter consolidated statement of operations
Revenue	43,634	41,581	$ 29,003
Operating costs and expenses	(27,860)	(26,541)	(18,655)
Depreciation and amortization	(10,318)	(10,588)	(6,907)
Other operating expenses	(235)	(346)	(985)
Total operating costs and expenses	(38,413)	(37,475)	(26,547)
Operating income	5,221	4,106	2,456
Interest expense, net	(3,540)	(3,090)	(2,499)
Loss on extinguishment of debt		(40)	(111)
Other income (expense), net	5	52	974
Income tax benefit (expense), net	(180)	9,087	2,925
Net income (loss)	1,506	10,115	3,745
Less: Net income attributable to noncontrolling interests	(276)	(220)	(223)
Net income (loss) attributable to Charter shareholders	$ 1,230	$ 9,895	$ 3,522

Debt (Details)

Debt (Details) $ in Thousands, shares in Millions	Aug. 24, 2018USD ($)	Oct. 30, 2014item	Aug. 31, 2017USD ($)	Aug. 31, 2017	Dec. 31, 2018USD ($)shares	Dec. 31, 2017USD ($)	Apr. 04, 2018USD ($)
Debt disclosures
Long-term Debt					$ 522,928	$ 497,370
Repayment of margin loan					$ 133,000	600,000
Amended 2017 Margin Loan Agreement
Debt disclosures
Debt Instrument, Interest Rate, Effective Percentage					3.89%
Amended 2017 Margin Loan Agreement | Charter
Debt disclosures
Number of common shares pledged as collateral | shares					6.8
Value of pledged collateral					$ 1,900,000
2014 Margin Loan Agreement | Three-month LIBOR
Debt disclosures
Unused commitment fee percentage				0.25%
Basis spread on variable rate				1.55%
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 | Margin Loan Agreements
Debt disclosures
Interest rate basis				three-month LIBOR
BroadbandSPV | 2014 Margin Loan Agreement
Debt disclosures
Number of debt agreements | item		2
Repayment of margin loan			$ 400,000
Cheetah 5 | 2016 Margin Loan Agreement
Debt disclosures
Repayment of margin loan			$ 200,000
Cheetah 5 | 2016 Margin Loan Agreement | Charter
Debt disclosures
Interest rate basis				LIBOR
Cheetah 5 | 2016 Margin Loan Agreement | LIBOR
Debt disclosures
Unused commitment fee percentage				0.50%
Basis spread on variable rate				2.10%

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Current:
Federal		$ (11)	$ 1,556
State and local	$ (355)	(84)	853
Total current income tax expense	(355)	(95)	2,409
Deferred:
Federal	(17,501)	(301,837)	(493,890)
State and local	(4,068)	(115,001)	(66,888)
Total deferred income tax expense	(21,569)	(416,838)	(560,778)
Income tax benefit (expense)	$ (21,924)	$ (416,933)	$ (558,369)
Differences between provision for income taxes and income tax expense computed by applying federal rates
US federal income tax rate	21.00%	35.00%	35.00%
Computed expected tax benefits (expense)	$ (19,294)	$ (857,710)	$ (516,485)
State and local taxes, net of federal income taxes	(3,831)	(74,805)	(42,995)
Foreign taxes, net of foreign tax credits			(1,180)
Change in valuation allowance	380	(1,208)	683
Dividends received deduction			931
Change in tax rate - other	(27)		45
Change in tax rate - U.S. tax reform		515,773
Derivative instruments	768	1,084	396
Other	80	(67)	236
Income tax benefit (expense)	(21,924)	(416,933)	(558,369)
Increase (decrease) in valuation allowance	(400)
Deferred tax assets:
Tax loss and tax credit carryforwards	56,056		49,555
Accrued stock-based compensation	5,571		4,275
Deferred revenue	1,430		1,805
Other	44		64
Total deferred tax assets	63,101		55,699
Less: valuation allowance	(7,773)		(8,153)
Net deferred tax assets	55,328		47,546
Deferred tax liabilities:
Investments	(1,020,869)		(979,522)
Intangible assets	(261)		(617)
Other	(27)
Total deferred tax liabilities	(1,021,157)		(980,139)
Net deferred tax liability	(965,829)		(932,593)
Continuing operations
Deferred:
Total deferred income tax expense	$ (21,569)	$ (416,838)	$ (560,778)

Income Taxes (Details)_2

Income Taxes (Details) $ in Millions	Dec. 31, 2018USD ($)
Income Taxes
Tax credit carryforward after tax	$ 56.1
Loss carryforward with no expiration	6.7
Operating loss carryforwards expected to be unutilized	$ 7.8

Stockholders' Equity (Details)

Stockholders' Equity (Details) $ / shares in Units, $ in Millions	May 18, 2018shares	Oct. 03, 2017USD ($)shares	Mar. 31, 2017USD ($)	May 18, 2016USD ($)$ / shares	Jan. 09, 2015shares	Dec. 10, 2014$ / shares	Nov. 04, 2014shares	Oct. 29, 2014	May 31, 2016shares	Dec. 31, 2018USD ($)Voteitem$ / shares$ / itemshares	Dec. 31, 2017USD ($)$ / sharesshares	Dec. 31, 2016USD ($)shares
Broadband Spin-Off Distribution Ratio								0.25
Shares issued during period							85,761,332
Liberty Interactive
Number of shares purchased									42,700,000
Non-voting economic ownership percentage												23.50%
Series A common stock
Common Stock, Par or Stated Value Per Share | $ / shares										$ 0.01	$ 0.01
Number Of Votes | Vote										1
Common Stock, Capital Shares Reserved for Future Issuance										393,000
Series B common stock
Common Stock, Par or Stated Value Per Share | $ / shares										$ 0.01	0.01
Number Of Votes | Vote										10
Common Stock Shares Received In Exchange For One Share Of Series B | item										1
Series C common stock
Subscription Rights Distribution Ratio						0.20
Proceeds from Issuance of Common Stock | $				$ 4,400
Shares issued during period	78,300,000				17,277,224
Common Stock, Par or Stated Value Per Share | $ / shares				$ 0.01						$ 0.01	$ 0.01
Purchase price (in dollars per share) | $ / shares				$ 56.23		$ 40.36
Discount percentage for holders to acquire shares enabled by subscription rights						20.00%
Number of trading days of volume weighted average trading price used for calculating discount for holders to acquire shares enabled by subscription rights						20 days
Number Of Votes | Vote										0
Common Stock, Capital Shares Reserved for Future Issuance										2,400,000
Call Option | Series C common stock | Zero-strike call option
Derivative underlying share amount		527,156								0	0	704,908
Derivative, Price Risk Option Strike Price | $ / item										90.54
Derivative premium paid | $		$ 47.7								$ 142.8	$ 149.4	$ 47.9
Derivative settlement proceeds | $			$ 50							$ 146.5	$ 155.7

Stock-Based Compensation (Detai

Stock-Based Compensation (Details) - USD ($) $ / shares in Units, $ in Thousands	Dec. 31, 2018	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Stock Based Compensation
Stock-based compensation		$ 5,707	$ 5,292	$ 5,713
Operating expense
Stock Based Compensation
Stock-based compensation		4	(2)
Selling, general and administrative
Stock Based Compensation
Stock-based compensation		5,599	5,114	5,555
Research and development
Stock Based Compensation
Stock-based compensation		$ 104	$ 180	$ 158
Series A common stock
Options
Common Stock, Capital Shares Reserved for Future Issuance	393,000	393,000
Series C common stock
Options
Common Stock, Capital Shares Reserved for Future Issuance	2,400,000	2,400,000
Options
Options
Common Stock, Capital Shares Reserved for Future Issuance	2,700,000	2,700,000
2014 Plan
Stock Based Compensation
Number of authorized shares	8,400,000	8,400,000
Fair value assumptions
Dividend rate		0.00%	0.00%	0.00%
2014 Plan | Awards
Options
Unrecognized compensation cost options	$ 4,800	$ 4,800
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition		1 year
2014 Plan | Awards | Series A common stock
Options
Outstanding beginning balance (in shares)		404,000
Exercised (in shares)		(11,000)
Outstanding ending balance (in shares)	393,000	393,000	404,000
Number of awards exercisable (in shares)	393,000	393,000
WAEP Outstanding beginning balance (in dollars per share)		$ 33.16
WAEP options exercised (in dollars per share)		27.75
WAEP Outstanding ending balance (in dollars per share)	$ 33.31	33.31	$ 33.16
WAEP options exercisable (in dollars per share)	$ 33.28	$ 33.28
Weighted average remaining contractual life outstanding	1 year
Weighted average remaining contractual life exercisable	1 year
Aggregate intrinsic value outstanding	$ 15,000	$ 15,000
Aggregate intrinsic value exercisable	$ 15,000	$ 15,000
2014 Plan | Awards | Series C common stock
Options
Outstanding beginning balance (in shares)		2,388,000
Options granted (in shares)		10,000
Exercised (in shares)		(42,000)
Outstanding ending balance (in shares)	2,356,000	2,356,000	2,388,000
Number of awards exercisable (in shares)	1,594,000	1,594,000
WAEP Outstanding beginning balance (in dollars per share)		$ 43.35
WAEP Options granted (in dollars per share)		82.46
WAEP options exercised (in dollars per share)		29.15
WAEP Outstanding ending balance (in dollars per share)	$ 43.77	43.77	$ 43.35
WAEP options exercisable (in dollars per share)	$ 41.49	$ 41.49
Weighted average remaining contractual life outstanding	4 years 3 months 18 days
Weighted average remaining contractual life exercisable	3 years 6 months
Aggregate intrinsic value outstanding	$ 67,000	$ 67,000
Aggregate intrinsic value exercisable	$ 49,000	49,000
2014 Plan | Options
Options
Aggregate intrinsic value exercises		$ 3,000	$ 8,100	$ 14,400
2014 Plan | Options | Series A common stock
Options
Options granted (in shares)		0	0	0
2014 Plan | Options | Series B common stock
Options
Outstanding ending balance (in shares)	0	0
2014 Plan | Options | Series C common stock
Stock Based Compensation
Vesting period		1 year
Weighted average grant date fair value (in dollars per share)		$ 24.04	$ 22.68	$ 18.64
Options
Options granted (in shares)		10,000	16,000	17,000
2014 Plan | Minimum
Stock Based Compensation
Vesting period		1 year
Term of awards		7 years
2014 Plan | Minimum | Options
Stock Based Compensation
Term of awards		4 years 8 months 12 days	4 years 8 months 12 days	4 years 8 months 12 days
Fair value assumptions
Volatility rate		24.40%	24.40%	24.40%
2014 Plan | Maximum
Stock Based Compensation
Vesting period		5 years
Term of awards		10 years
2014 Plan | Maximum | Options
Stock Based Compensation
Term of awards		5 years 3 months 18 days	5 years 3 months 18 days	5 years 3 months 18 days
Fair value assumptions
Volatility rate		26.20%	26.20%	26.20%

Stock-Based Compensation (Det_2

Stock-Based Compensation (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
2014 Plan
Fair value assumptions
Dividend rate	0.00%	0.00%	0.00%
2014 Plan | Restricted Stock
Stock Based Compensation
Fair value of shares vested	$ 112	$ 116	$ 674
Number of awards outstanding unvested (in shares)	24
Weighted average grant date fair value awards outstanding unvested (in dollars per share)	$ 15.33
2014 Plan | Minimum
Stock Based Compensation
Vesting period	1 year
Term of awards	7 years
2014 Plan | Minimum | Options
Stock Based Compensation
Term of awards	4 years 8 months 12 days	4 years 8 months 12 days	4 years 8 months 12 days
Fair value assumptions
Volatility rate	24.40%	24.40%	24.40%
2014 Plan | Maximum
Stock Based Compensation
Vesting period	5 years
Term of awards	10 years
2014 Plan | Maximum | Options
Stock Based Compensation
Term of awards	5 years 3 months 18 days	5 years 3 months 18 days	5 years 3 months 18 days
Fair value assumptions
Volatility rate	26.20%	26.20%	26.20%
LTIPs | Skyhook | PARs and PSUs | Level 2 | Other liabilities
Stock Based Compensation
Deferred compensation	$ 1,100	$ 1,200

Employee Benefit Plans (Details

Employee Benefit Plans (Details) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Employer cash contribution		$ 0.8	$ 1	$ 0.8
Skyhook | Liberty 401k Plan
Company matching contribution (as a percent)		100.00%
Employee salary eligible for matching contributions (as a percent)	10.00%

Commitments and Contingencies_2

Commitments and Contingencies (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)facility	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)
Minimum annual lease payments
2,019	$ 545
2,020	132
Total	677
Skyhook
Minimum annual lease payments
Rental expense	$ 1,000	$ 1,100	$ 2,400
Number of facilities | facility	2

Segment Information (Details)

Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Segment information
Revenue	$ 3,576	$ 3,518	$ 3,371	$ 11,791	$ 3,449	$ 3,430	$ 3,073	$ 3,140	$ 22,256	$ 13,092	$ 30,586
Adjusted OIBDA									(3,528)	(16,416)	(11,442)
Total assets	12,098,437				11,931,789				12,098,437	11,931,789
Investments in affiliates	12,004,376				11,835,613				12,004,376	11,835,613
Capital expenditures									$ 41	70
Charter
Segment information
Financial results included in the disclosure (as a percent)									100.00%
Operating segments
Segment information
Revenue									$ 43,656,256	41,594,092	29,033,586
Adjusted OIBDA									15,820,472	14,938,584	9,595,558
Total assets	158,228,437				158,554,789				158,228,437	158,554,789
Investments in affiliates	12,004,376				11,835,613				12,004,376	11,835,613
Capital expenditures									9,125,041	8,681,070
Operating segments | Skyhook
Segment information
Revenue									22,256	13,092	30,586
Adjusted OIBDA									3,161	(9,496)	(2,681)
Total assets	21,763				24,481				21,763	24,481
Capital expenditures									41	70
Operating segments | Charter
Segment information
Revenue									43,634,000	41,581,000	29,003,000
Adjusted OIBDA									15,824,000	14,955,000	9,607,000
Total assets	146,130,000				146,623,000				146,130,000	146,623,000
Capital expenditures									9,125,000	8,681,000
Corporate and other
Segment information
Adjusted OIBDA									(6,689)	(6,920)	(8,761)
Total assets	12,076,674				11,907,308				12,076,674	11,907,308
Investments in affiliates	12,004,376				11,835,613				12,004,376	11,835,613
Eliminate equity method affiliate
Segment information
Revenue									(43,634,000)	(41,581,000)	(29,003,000)
Adjusted OIBDA									(15,824,000)	(14,955,000)	(9,607,000)
Total assets	$ (146,130,000)				$ (146,623,000)				(146,130,000)	(146,623,000)
Capital expenditures									(9,125,000)	(8,681,000)
United States
Segment information
Revenue									19,946	10,315	27,806
Other countries
Segment information
Revenue									$ 2,310	$ 2,777	$ 2,780

Segment Information (Details)_2

Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Reconciliation of segment Adjusted OIBDA to earnings (loss) before income taxes
Combined segment Adjusted OIBDA									$ (3,528)	$ (16,416)	$ (11,442)
Stock-based compensation									(5,707)	(5,292)	(5,713)
Depreciation and amortization									(2,779)	(3,770)	(4,005)
Operating income (loss)	$ (5,093)	$ (4,096)	$ (5,071)	$ 2,246	$ (5,996)	$ (5,787)	$ (7,333)	$ (6,362)	(12,014)	(25,478)	(21,160)
Interest expense									(23,302)	(19,570)	(14,956)
Dividend and interest income									881	1,449	5,020
Share of earnings (losses) of affiliates									166,146	2,508,991	641,544
Realized and unrealized gains (losses) on financial instruments, net									3,659	3,098	94,122
Gain (loss) on dilution of investment in affiliate									(43,575)	(17,872)	770,766
Other, net									82	(18)	336
Earnings (loss) from continuing operations before income taxes									$ 91,877	$ 2,450,600	$ 1,475,672

Quarterly Financial Informati_3

Quarterly Financial Information (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]
Revenue	$ 3,576	$ 3,518	$ 3,371	$ 11,791	$ 3,449	$ 3,430	$ 3,073	$ 3,140	$ 22,256	$ 13,092	$ 30,586
Operating Income (Loss)	(5,093)	(4,096)	(5,071)	2,246	(5,996)	(5,787)	(7,333)	(6,362)	(12,014)	(25,478)	(21,160)
Net Income (Loss) Available to Common Stockholders, Basic	$ 14,804	$ 59,639	$ 10,580	$ (15,070)	$ 2,060,953	$ (9,864)	$ (2,977)	$ (14,445)	$ 69,953	$ 2,033,667	$ 917,303
Earnings Per Share, Basic	$ 0.08	$ 0.33	$ 0.06	$ (0.08)	$ 11.37	$ (0.05)	$ (0.02)	$ (0.08)	$ 0.39	$ 11.19	$ 6.03
Earnings Per Share, Diluted	$ 0.08	$ 0.33	$ 0.06	$ (0.08)	$ 11.28	$ (0.05)	$ (0.02)	$ (0.08)	$ 0.38	$ 11.10	$ 6