Liberty Broadband (LBRDK) 10-Q 6 May 22 2022 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2022	Apr. 30, 2022
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2022
Document Transition Report	false
Entity File Number	001-36713
Entity Registrant Name	LIBERTY BROADBAND CORPORATION
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	47-1211994
Entity Address, Address Line One	12300 Liberty Boulevard
Entity Address, City or Town	Englewood
Entity Address, State or Province	CO
Entity Address, Postal Zip Code	80112
City Area Code	720
Local Phone Number	875-5700
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Entity Central Index Key	0001611983
Amendment Flag	false
Series A common stock
Document Information [Line Items]
Title of 12(b) Security	Series A common stock
Trading Symbol	LBRDA
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding		22,558,925
Series B common stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		2,544,548
Series C common stock
Document Information [Line Items]
Title of 12(b) Security	Series C common stock
Trading Symbol	LBRDK
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding		137,670,912
Series A Cumulative Redeemable Preferred Stock.
Document Information [Line Items]
Title of 12(b) Security	Series A Cumulative Redeemable preferred stock
Trading Symbol	LBRDP
Security Exchange Name	NASDAQ

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 300	$ 191
Trade and other receivables, net of allowance for credit losses of $4 and $4, respectively	169	206
Prepaid and other current assets	77	62
Total current assets	546	459
Property and equipment, net	1,010	1,031
Intangible assets not subject to amortization
Goodwill	762	762
Intangible assets subject to amortization, net (note 5)	559	573
Tax sharing receivable	63	86
Other assets, net	201	210
Total assets	16,630	16,968
Current liabilities:
Accounts payable and accrued liabilities	97	99
Deferred revenue	22	25
Current portion of debt, including $22 and $25 measured at fair value, respectively (note 6)	25	28
Indemnification obligation (note 3)	239	324
Other current liabilities	154	106
Total current liabilities	537	582
Long-term debt, net, including $1,359 and $1,403 measured at fair value, respectively (note 6)	3,989	3,733
Obligations under finance leases and tower obligations, excluding current portion	88	89
Long-term deferred revenue	35	35
Deferred income tax liabilities	2,002	1,998
Preferred stock (note 7)	203	203
Other liabilities	177	189
Total liabilities	7,031	6,829
Equity
Additional paid-in capital	5,375	6,214
Accumulated other comprehensive earnings, net of taxes	10	14
Retained earnings	4,197	3,898
Total stockholders' equity	9,583	10,127
Non-controlling interests	16	12
Total equity	9,599	10,139
Commitments and contingencies (note 9)
Total liabilities and equity	16,630	16,968
Cable certificates
Intangible assets not subject to amortization
Indefinite-lived intangibles	550	550
Other amortizable intangibles
Intangible assets not subject to amortization
Indefinite-lived intangibles	37	37
Series A common stock
Equity
Common stock
Series B common stock
Equity
Common stock
Series C common stock
Equity
Common stock	1	1
Charter.
Current assets:
Total current assets	5,516	3,566
Investment in Charter, accounted for using the equity method (note 4)	12,902	13,260
Property and equipment, net	34,173	34,310
Intangible assets not subject to amortization
Goodwill	29,563	29,562
Other assets, net	3,650	3,647
Total assets	143,948	142,491
Current liabilities:
Total current liabilities	13,929	12,458
Deferred income tax liabilities	19,070	19,096
Other liabilities	4,326	4,217
Equity
Total stockholders' equity	15,944	18,156
Total liabilities and equity	$ 143,948	$ 142,491

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Allowance for credit losses	$ 4	$ 4
Short-term debt, measured at fair value	22	25
Long-term debt, measured at fair value	$ 1,359	$ 1,403
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	22,558,925	23,232,342
Common Stock, Shares, Outstanding	22,558,925	23,232,342
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	2,544,548	2,544,548
Common Stock, Shares, Outstanding	2,544,548	2,544,548
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	139,860,028	144,854,780
Common Stock, Shares, Outstanding	139,860,028	144,854,780

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Revenue:
Revenue	$ 238	$ 247
Revenue, Product and Service [Extensible List]	us-gaap:ServiceMember	us-gaap:ServiceMember
Operating costs and expenses
Operating expense (exclusive of depreciation and amortization shown separately below)	$ 66	$ 69
Selling, general and administrative, including stock-based compensation (note 8)	101	105
Depreciation and amortization	64	64
Litigation settlement, net of recoveries (note 9)		110
Total operating costs and expenses	231	348
Operating income (loss)	7	(101)
Other income (expense):
Interest expense (including amortization of deferred loan fees)	(26)	(33)
Share of earnings (losses) of affiliate (note 4)	303	189
Gain (loss) on dilution of investment in affiliate (note 4)	(56)	(82)
Realized and unrealized gains (losses) on financial instruments, net (note 3)	137	99
Other, net	(21)	(8)
Earnings (loss) before income taxes	344	64
Income tax benefit (expense)	(45)	(12)
Net earnings (loss)	299	52
Net earnings (loss) attributable to Liberty Broadband shareholders	$ 299	$ 52
Basic earnings (loss) attributable to Series A, Series B and Series C Liberty Broadband shareholders per common share (note 2)	$ 1.79	$ 0.27
Diluted net earnings (loss) attributable to Series A, Series B and Series C Liberty Broadband shareholders per common share (note 2)	$ 1.77	$ 0.27

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Earnings (Loss) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Consolidated Statements of Comprehensive Earnings (Loss)
Net earnings (loss)	$ 299	$ 52
Other comprehensive earnings (loss), net of taxes:
Comprehensive earnings (loss) attributable to debt credit risk adjustments	(4)
Other comprehensive earnings (loss), net of taxes	(4)
Comprehensive earnings (loss)	295	52
Comprehensive earnings (loss) attributable to Liberty Broadband shareholders	$ 295	$ 52

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Cash flows from operating activities:
Net earnings (loss)	$ 299	$ 52
Adjustments to reconcile net earnings (loss) to net cash provided by operating activities:
Depreciation and amortization	64	64
Stock-based compensation	9	10
Litigation settlement, net of recoveries		110
Share of (earnings) losses of affiliate, net	(303)	(189)
(Gain) loss on dilution of investment in affiliate	56	82
Realized and unrealized (gains) losses on financial instruments, net	(137)	(99)
Deferred income tax expense (benefit)	6	11
Other, net	(1)	(2)
Changes in operating assets and liabilities:
Current and other assets	65	165
Payables and other liabilities	32	(11)
Net cash provided by (used in) operating activities	90	193
Cash flows from investing activities:
Capital expenditures	(32)	(28)
Cash received for Charter shares repurchased by Charter	602	518
Other investing activities, net	4
Net cash provided by (used in) investing activities	574	490
Cash flows from financing activities:
Borrowings of debt	300
Repayments of debt, finance leases and tower obligations	(2)	(183)
Repurchases of Liberty Broadband common stock	(843)	(738)
Other financing activities, net	(3)	(2)
Net cash provided by (used in) financing activities	(548)	(923)
Net increase (decrease) in cash, cash equivalents and restricted cash	116	(240)
Cash, cash equivalents and restricted cash, beginning of period	206	1,433
Cash, cash equivalents and restricted cash, end of period	$ 322	$ 1,193

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Consolidated Statements of Cash Flows
Cash and cash equivalents	$ 300	$ 191
Restricted cash included in other current assets	$ 22	$ 15
Restricted Cash and Cash Equivalents, Current, Asset, Statement of Financial Position [Extensible List]	us-gaap:OtherAssetsCurrent	us-gaap:OtherAssetsCurrent
Total cash and cash equivalents and restricted cash at end of period	$ 322	$ 206

Condensed Consolidated Statem_5

Condensed Consolidated Statement of Equity - USD ($) $ in Millions	Series C common stockCommon stock	Additional paid-in capital	Accumulated other comprehensive earnings	Retained earnings	Noncontrolling interest in equity of subsidiaries	Total
Balance at Dec. 31, 2020	$ 2	$ 10,320	$ 15	$ 3,166	$ 12	$ 13,515
Increase (Decrease) in Stockholders' Equity
Net earnings (loss)				52		52
Stock-based compensation		10				10
Withholding taxes on net share settlements of stock-based compensation		(3)				(3)
Liberty Broadband stock repurchases		(738)				(738)
Noncontrolling interest activity at Charter and other		(26)				(26)
Balance at Mar. 31, 2021	2	9,563	15	3,218	12	12,810
Balance at Dec. 31, 2021	1	6,214	14	3,898	12	10,139
Increase (Decrease) in Stockholders' Equity
Net earnings (loss)				299		299
Other comprehensive earnings (loss), net of taxes			(4)			(4)
Stock-based compensation		9				9
Withholding taxes on net share settlements of stock-based compensation		(3)				(3)
Liberty Broadband stock repurchases		(843)				(843)
Noncontrolling interest activity at Charter and other		(2)			4	2
Balance at Mar. 31, 2022	$ 1	$ 5,375	$ 10	$ 4,197	$ 16	$ 9,599

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2022
Basis of Presentation
Basis of Presentation	(1) Basis of Presentation The accompanying condensed consolidated financial statements include the accounts of Liberty Broadband Corporation and its controlled subsidiaries (collectively, "Liberty Broadband," the "Company," “us,” “we,” or “our” unless the context otherwise requires). Liberty Broadband Corporation is primarily comprised of GCI Holdings, LLC (“GCI Holdings”), a wholly owned subsidiary, and an equity method investment in Charter Communications, Inc. (“Charter”). On December 18, 2020, GCI Liberty, Inc. (“GCI Liberty”) was merged with Liberty Broadband (the “Combination”) and Liberty Broadband acquired GCI Holdings, as further described in Liberty Broadband's Annual Reports on Form 10-K for the years ended December 31, 2021 and 2020. The accompanying (a) condensed consolidated balance sheet as of December 31, 2021, which has been derived from audited financial statements, and (b) interim unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“GAAP”) for interim financial information and the instructions to Form 10-Q and Article 10 of Regulation S-X as promulgated by the Securities and Exchange Commission. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation of the results for such periods have been included. The results of operations for any interim period are not necessarily indicative of results for the full year. Additionally, certain prior period amounts have been reclassified for comparability with current period presentation. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto contained in Liberty Broadband's Annual Report on Form 10-K for the year ended December 31, 2021. All significant intercompany accounts and transactions have been eliminated in the condensed consolidated financial statements. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. The Company considers (i) the application of the equity method of accounting for its affiliate, (ii) non-recurring fair value measurements of non-financial instruments and (iii) accounting for income taxes to be its most significant estimates . In December 2019, Chinese officials reported a novel coronavirus outbreak (“COVID-19”). COVID-19 has since spread through China and internationally. On March 11, 2020, the World Health Organization assessed COVID-19 as a global pandemic, causing many countries throughout the world to take aggressive actions, including imposing travel restrictions and stay-at-home orders, closing public attractions and restaurants, and mandating social distancing practices, which caused a significant disruption to most sectors of the economy at varying levels during the periods covered by the financial statements. We are not presently aware of any events or circumstances arising from the COVID-19 pandemic that would require us to update our estimates or judgments or revise the carrying value of our assets or liabilities. Our estimates may change, however, as new events occur and additional information is obtained, and any such changes will be recognized in the condensed consolidated financial statements. Actual results could differ from estimates, and any such differences may be material to our financial statements. Through a number of prior years’ transactions, including the Combination, Liberty Broadband has acquired an interest in Charter. The investment in Charter is accounted for using the equity method. Liberty Broadband does not control the decision making process or business management practices of this affiliate. Accordingly, Liberty Broadband relies on the management of this affiliate to provide it with accurate financial information prepared in accordance with GAAP that the Company uses in the application of the equity method. In addition, Liberty Broadband relies on audit reports that are provided by the affiliate's independent auditor on the financial statements of such affiliate. The Company is not aware, however, of any errors in or possible misstatements of the financial information provided by its equity affiliate that would have a material effect on Liberty Broadband's condensed consolidated financial statements. Skyhook Holdings, Inc. (“Skyhook”) was a wholly owned subsidiary of Liberty Broadband until its sale on May 2, 2022 for net proceeds of approximately $170 million. Skyhook is not presented as held-for-sale as of March 31, 2022 as it is not material to Liberty Broadband’s consolidated financial statements and Skyhook will not be presented as a discontinued operation upon closing of the sale as the sale did not represent a strategic shift that had a major effect on Liberty Broadband’s operations and financial results. As described in note 4, we are currently participating in Charter’s share buyback program in order to maintain our fully diluted ownership percentage of 26% . The primary use of those proceeds has been to repurchase Liberty Broadband Series A and Series C common stock pursuant to our authorized share repurchase programs. During the three months ended March 31, 2022, we repurchased 5.7 million shares of Series A and Series C common stock for a total purchase price of $843 million. During the three months ended March 31, 2021, we repurchased 4.9 million shares of Series C common stock for a total purchase price of $738 million. As of March 31, 2022, the amount authorized remaining under the authorized repurchase program is approximately $2.0 billion. Spin-Off Arrangements 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, and to distribute subscription rights to acquire shares of Liberty Broadband’s common stock (the “Broadband Spin-Off”). 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 and to provide for an orderly transition, including a services agreement and a facilities sharing agreement. 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. Pursuant to the services agreement, Liberty provides Liberty Broadband with general and administrative services including legal, tax, accounting, treasury and investor relations support. In December 2019, the Company entered into an amendment to the services agreement with Liberty in connection with Liberty’s entry into a new employment arrangement with Gregory B. Maffei, the Company’s President and Chief Executive Officer. Under the amended services agreement, components of his compensation would either be paid directly to him by each of the Company, Liberty TripAdvisor Holdings, Inc. and Qurate Retail, Inc. (“Qurate Retail”) (collectively, the “Service Companies”) or reimbursed to Liberty, in each case, based on allocations among Liberty and the Service Companies set forth in the amended services agreement, currently set at 33% for the Company but subject to adjustment on an annual basis upon the occurrence of certain events. Additionally, in connection with a prior transaction, GCI Liberty and Qurate Retail (for accounting purposes a related party of the Company) entered into a tax sharing agreement, which was assumed by Liberty Broadband as a result of the Combination. The tax sharing agreement provides for the allocation and indemnification of tax liabilities and benefits between Qurate Retail and Liberty Broadband and other agreements related to tax matters. Under these various agreements, amounts reimbursable to Liberty were approximately $3 million and $4 million for the three months ended March 31, 2022 and 2021, respectively. Liberty Broadband had a tax sharing receivable with Qurate Retail of $63 million and $86 million as of March 31, 2022 and December 31, 2021, respectively. Recently Announced Accounting Pronouncements

Earnings Attributable to Libert

Earnings Attributable to Liberty Broadband Stockholders Per Common Share	3 Months Ended
	Mar. 31, 2022
Earnings Attributable to Liberty Broadband Stockholders Per Common Share
Earnings Attributable to Liberty Broadband Stockholders Per Common Share	(2) Earnings Attributable to Liberty Broadband Stockholders Per Common Share Basic earnings (loss) per common share (“EPS”) is computed by dividing net earnings (loss) attributable to Liberty Broadband shareholders by the weighted average number of common shares outstanding (“WASO”) for the period. Diluted EPS presents the dilutive effect on a per share basis of potential common shares as if they had been converted at the beginning of the periods presented. Excluded from diluted EPS for both the three months ended March 31, 2022 and 2021 are 1 million potential common shares because their inclusion would have been antidilutive. ​ ​ ​ ​ ​ ​ ​ ​ ​ Liberty Broadband Common Stock ​ ​ ​ Three months ​ Three months ​ ​ ended ​ ended ​ ​ ​ March 31, 2022 ​ March 31, 2021 ​ ​ (numbers of shares in millions) ​ Basic WASO 167 194 ​ Potentially dilutive shares (1) 2 2 ​ Diluted WASO 169 196 ​ (1) Potentially dilutive shares are excluded from the computation of diluted EPS during periods in which losses are reported since the result would be antidilutive.

Assets and Liabilities Measured

Assets and Liabilities Measured at Fair Value	3 Months Ended
	Mar. 31, 2022
Assets and Liabilities Measured at Fair Value
Assets and Liabilities Measured at Fair Value	(3) 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: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2022 ​ December 31, 2021 ​ ​ ​ ​ ​ 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 millions Cash equivalents ​ $ 152 ​ 152 ​ — ​ 118 ​ 118 ​ — ​ Indemnification obligation ​ $ 239 ​ — ​ 239 ​ 324 ​ — ​ 324 ​ Exchangeable senior debentures ​ $ 1,381 ​ — ​ 1,381 ​ 1,428 ​ — ​ 1,428 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 (with the exception of the 1.75% Debentures (defined in note 6)) and long-term debt (with the exception of the 1.25% Debentures and the 2.75% Debentures (defined in note 6)). With the exception of long-term debt, the carrying amount approximates fair value due to the short maturity of these instruments as reported on our condensed consolidated balance sheets. The carrying value of our Margin Loan Facility, the Term Loan A and revolving credit facility borrowings under the Senior Credit Facility and the Wells Fargo Note Payable (each as defined in note 6) all bear interest at a variable rate and therefore are also considered to approximate fair value. Realized and Unrealized Gains (Losses) on Financial Instruments ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ ​ March 31, ​ ​ 2022 ​ 2021 ​ ​ amounts in millions Indemnification obligation ​ $ 85 ​ 52 ​ Exchangeable senior debentures (1) ​ ​ 52 ​ 47 ​ ​ ​ $ 137 ​ 99 ​ (1) The Company has elected to account for its exchangeable senior debentures using the fair value option. Changes in the fair value of the exchangeable senior debentures recognized in the condensed consolidated statements of operations are primarily due to market factors driven by changes in the fair value of the underlying shares into which the debt is exchangeable. The Company isolates the portion of the unrealized gain (loss) attributable to the change in the instrument specific credit risk and recognizes such amount in other comprehensive income. The change in the fair value of the exchangeable senior debentures attributable to changes in the instrument specific credit risk before tax was a loss of $6 million and a gain of less than $1 million for the three months ended March 31, 2022 and 2021, respectively . The cumulative change was a gain of $1 million as of March 31, 2022.

Investment in Charter Accounted

Investment in Charter Accounted for Using the Equity Method	3 Months Ended
	Mar. 31, 2022
Investment in Charter Accounted for Using the Equity Method
Investment in Charter Accounted for Using the Equity Method	(4) Investment in Charter Accounted for Using the Equity Method Through a number of prior years’ transactions and the Combination, Liberty Broadband has acquired an interest in Charter. The investment in Charter is accounted for as an equity method affiliate based on our voting and ownership interest and the board seats held by individuals appointed by Liberty Broadband. As of March 31, 2022, the carrying and market value of Liberty Broadband’s ownership in Charter was approximately $12.9 billion and $28.6 billion, respectively. We own an approximate 31.2% economic ownership interest in Charter, based on shares of Charter’s Class A common stock issued and outstanding as of March 31, 2022. Upon the closing of the Time Warner Cable merger, the Second Amended and Restated Stockholders Agreement, dated as of May 23, 2015, by and among Charter, Liberty Broadband and Advance/Newhouse Partnership, as amended (the “Stockholders Agreement”), became fully effective. Pursuant to the Stockholders Agreement, Liberty Broadband’s equity ownership in Charter (on a fully diluted basis) is capped at the greater of 26% or the voting cap (“Equity Cap”). As of March 31, 2022, due to Liberty Broadband’s voting interest exceeding the current voting cap of 25.01%, our voting control of the aggregate voting power of Charter is 25.01%. Under the Stockholders Agreement, Liberty Broadband has agreed to vote (subject to certain exceptions) all voting securities beneficially owned by it, or over which it has voting discretion or control that are in excess of the voting cap in the same proportion as all other votes cast by public stockholders of Charter with respect to the applicable matter. In February 2021, Liberty Broadband was notified that its ownership interest, on a fully diluted basis, had exceeded the Equity Cap set forth in the Stockholders Agreement. On February 23, 2021, Charter and Liberty Broadband entered into a letter agreement . Pursuant to this letter agreement, following any month during which Charter purchases, redeems or buys back shares of its Class A common stock, and prior to certain meetings of Charter’s stockholders, Liberty Broadband will be obligated to sell to Charter, and Charter will be obligated to purchase, such number of shares of Class A common stock as is necessary (if any) to reduce Liberty Broadband’s percentage equity interest, on a fully diluted basis, to the Equity Cap (such transaction, a “Charter Repurchase”). The per share sale price for each share of Charter will be equal to the volume weighted average price paid by Charter in its repurchases, redemptions and buybacks of its common stock (subject to certain exceptions) during the month prior to the Charter Repurchase (or, if applicable, during the relevant period prior to the relevant meeting of Charter stockholders). Under the terms of the letter agreement, Liberty Broadband sold 970,241 and 834,576 shares of Charter Class A common stock to Charter for $602 million and $518 million during the three months ended March 31, 2022 and 2021, respectively, to maintain our fully diluted ownership percentage at 26% . Subsequent to March 31, 2022, Liberty Broadband sold 863,719 shares of Charter Class A common stock to Charter for $491 million in April 2022. Investment in Charter The excess basis in our investment in Charter of $9,136 million as of March 31, 2022 is allocated within memo accounts used for equity method accounting purposes as follows (amounts in millions): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ ​ ​ ​ 2022 ​ 2021 ​ Property and equipment $ 676 ​ 661 ​ Customer relationships ​ 2,537 ​ 2,537 ​ Franchise fees ​ 3,935 ​ 3,828 ​ Trademarks ​ 29 ​ 29 ​ Goodwill ​ 4,150 ​ 4,024 ​ Debt ​ (534) ​ (535) ​ Deferred income tax liability ​ (1,657) ​ (1,626) ​ ​ ​ $ 9,136 ​ 8,918 ​ ​ Property and equipment and customer relationships have weighted average remaining useful lives of approximately 5 years and 9 years, respectively, and franchise fees, trademarks and goodwill have indefinite lives. The excess basis of outstanding debt is amortized over the contractual period using the straight-line method. The increase in excess basis for the three months ended March 31, 2022 was primarily due to Charter’s share buyback program, partially offset by Liberty Broadband’s participation in Charter’s share buyback program. The Company’s share of earnings (losses) of affiliate line item in the accompanying condensed consolidated statements of operations includes expenses of $67 million and $58 million, net of related taxes, for the three months ended March 31, 2022 and 2021, respectively, due to the amortization of the excess basis related to assets with identifiable useful lives and debt. The Company had dilution losses of $56 million and $82 million during the three months ended March 31, 2022 and 2021, respectively. The dilution losses for the periods presented were attributable to stock option exercises by employees and other third parties at prices below Liberty Broadband’s book basis per share, partially offset by a gain on dilution related to Charter’s repurchase of Liberty Broadband’s Charter shares during both the three months ended March 31, 2022 and 2021. Summarized unaudited financial information for Charter is as follows: Charter condensed consolidated balance sheets ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2022 ​ December 31, 2021 ​ ​ amounts in millions ​ Current assets ​ $ 5,516 ​ 3,566 ​ Property and equipment, net ​ 34,173 ​ 34,310 ​ Goodwill ​ 29,563 ​ 29,562 ​ Intangible assets, net ​ 71,046 ​ 71,406 ​ Other assets ​ 3,650 ​ 3,647 ​ Total assets ​ $ 143,948 ​ 142,491 ​ Current liabilities ​ $ 13,929 ​ 12,458 ​ Deferred income taxes ​ 19,070 ​ 19,096 ​ Long-term debt ​ 90,679 ​ 88,564 ​ Other liabilities ​ 4,326 ​ 4,217 ​ Equity ​ 15,944 ​ 18,156 ​ Total liabilities and shareholders’ equity ​ $ 143,948 ​ 142,491 ​ Charter condensed consolidated statements of operations ​ ​ ​ ​ ​ ​ Three months ended ​ March 31, ​ 2022 ​ 2021 ​ amounts in millions Revenue $ 13,200 ​ 12,522 Cost and expenses: ​ ​ ​ ​ Operating costs and expenses (excluding depreciation and amortization) 8,134 ​ 7,711 Depreciation and amortization 2,294 ​ 2,441 Other operating expenses, net 1 ​ 302 ​ ​ 10,429 ​ 10,454 Operating income ​ 2,771 ​ 2,068 Interest expense, net (1,060) ​ (983) Other income (expense), net ​ 23 ​ 52 Income tax (expense) benefit (345) ​ (216) Net income (loss) ​ 1,389 ​ 921 Less: Net income attributable to noncontrolling interests ​ (186) ​ (114) Net income (loss) attributable to Charter shareholders $ 1,203 ​ 807 ​

Intangible Assets

Intangible Assets	3 Months Ended
	Mar. 31, 2022
Intangible Assets
Intangible Assets	(5 Intangible Assets Intangible Assets Subject to Amortization, net ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2022 December 31, 2021 ​ ​ Gross ​ ​ ​ Net ​ Gross ​ ​ ​ Net ​ ​ carrying ​ Accumulated ​ carrying ​ carrying ​ Accumulated ​ carrying ​ amount amortization amount amount amortization amount ​ ​ amounts in millions Customer relationships ​ $ 515 ​ (59) ​ 456 ​ ​ 515 ​ (49) ​ 466 Other amortizable intangibles ​ 140 ​ (37) ​ 103 ​ 138 ​ (31) ​ 107 Total ​ $ 655 ​ (96) ​ 559 ​ ​ 653 ​ (80) ​ 573 ​ ​ ​ ​ ​ ​ Remainder of 2022 ​ $ 49 2023 ​ $ 59 2024 ​ $ 53 2025 ​ $ 51 2026 ​ $ 48 ​

Debt

Debt	3 Months Ended
	Mar. 31, 2022
Debt
Debt	(6) Debt ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Outstanding ​ ​ ​ principal ​ Carrying value ​ ​ March 31, ​ March 31, ​ December 31, ​ 2022 2022 2021 ​ amounts in millions ​ Margin Loan Facility ​ $ 1,600 ​ 1,600 1,300 ​ 2.75% Exchangeable Senior Debentures due 2050 ​ 575 ​ 569 585 ​ 1.25% Exchangeable Senior Debentures due 2050 ​ ​ 825 ​ ​ 790 ​ 818 ​ 1.75% Exchangeable Senior Debentures due 2046 ​ ​ 15 ​ ​ 22 ​ 25 ​ Senior notes ​ 600 ​ 631 632 ​ Senior credit facility ​ 399 ​ 399 399 ​ Wells Fargo note payable ​ 6 ​ 6 6 ​ Deferred financing costs ​ ​ ​ (3) (4) ​ Total debt ​ $ 4,020 ​ 4,014 3,761 ​ Debt classified as current ​ ​ ​ (25) (28) ​ Total long-term debt ​ ​ ​ ​ $ 3,989 3,733 ​ ​ Margin Loan Facility ​ On May 12, 2021, a bankruptcy remote wholly owned subsidiary of the Company (“ ”) entered into Amendment No. 4 to Margin Loan Agreement and Amendment No. 4 to Collateral Account Control Agreement (the “ ”), which amends SPV’s margin loan agreement, dated as of August 31, 2017 (as amended by the Fourth Amendment, the “ ”), with a group of lenders. Upon the effectiveness of the Fourth Amendment (the date on which such effectiveness occurred, the “ ”), the Margin Loan Agreement provided for (x) a term loan credit facility in an aggregate principal amount of $1.15 billion (the “ ” and proceeds of such facility, the “ ”), (y) a revolving credit facility in an aggregate principal amount of $1.15 billion (the “ ” and proceeds of such facility, the “ ”; the Revolving Loans, collectively with the Term Loans, the “ ”) and (z) an uncommitted incremental term loan facility in an aggregate principal amount of up to $200 million (collectively, the “Margin Loan Facility”). No additional borrowings under the Margin Loan Agreement were made on the Fourth Amendment Effective Date and, after giving effect to the transactions occurring on such date, there were (i) $1.15 billion in Term Loans outstanding under the Term Loan Facility and (ii) $0.00 of Revolving Loans outstanding. SPV’s obligations under the Margin Loan Facility are secured by first priority liens on the shares of Charter owned by SPV. In the three months ended March 31, 2022, SPV drew down $300 million on the Revolving Loans. Outstanding borrowings under the Margin Loan Agreement were $1.6 billion and $1.3 billion at March 31, 2022 and December 31, 2021, respectively. As of March 31, 2022, SPV was permitted to borrow an additional $700 million under the Margin Loan Agreement, subject to certain funding conditions, which may be drawn until five ​ The 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 Margin Loan Agreement does not include any financial covenants. The Margin Loan Agreement does contain restrictions related to additional indebtedness and events of default customary for margin loans of this type. SPV’s obligations under the 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 Margin Loan Agreement. The Margin Loan Agreement indicates that no lender party shall have any voting rights with respect to the shares pledged as collateral, 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 agreement. Exchangeable Senior Debentures The Company has elected to account for all of its exchangeable senior debentures at fair value in its condensed consolidated financial statements. Accordingly, changes in the fair value of these instruments are recognized in unrealized gains (losses) in the accompanying condensed consolidated statements of operations. See note 3 for information related to unrealized gains (losses) on debt measured at fair value. As of March 31, 2022, a holder of the Company’s 2.75% Exchangeable Senior Debentures due 2050 (the “ 2.75% Debentures”) or a holder of the Company’s 1.25% Exchangeable Senior Debentures due 2050 (the “ 1.25% Debentures) does not have the ability to exchange and, accordingly, the 2.75% Debentures and 1.25% Debentures are classified as long-term debt in the condensed consolidated balance sheets. As of March 31, 2022, the holders of the 1.75% exchangeable senior debentures due 2046 (the “ 1.75% Debentures), which were issued by GCI Liberty and assumed in connection with the closing of the Combination, will have the ability to exchange their debentures for the period from April 1, 2022 to June 30, 2022 given that the trading value of the reference shares exceeded 130% of the par value for twenty of the last thirty trading days in the first quarter of 2022. Given the holders’ ability to exchange the debentures within a one-year period from the balance sheet date and the Company’s option to settle any exchange in cash, shares of Charter Class A common stock, or a combination of cash and shares of Charter Class A common stock, the 1.75% Debentures have been classified as current within the condensed consolidated balance sheets as of March 31, 2022. The Company reviews the terms of all the debentures on a quarterly basis to determine whether an event has occurred to require current classification on the condensed consolidated balance sheets. Senior Notes In connection with the closing of the Combination on December 18, 2020, GCI, LLC became an indirect wholly owned subsidiary of the Company. GCI, LLC is the issuer of $600 million 4.75% senior notes due 2028 (the “Senior Notes”). The Senior Notes were issued by GCI, LLC on October 7, 2020 and are unsecured. Interest on the Senior Notes is payable semi-annually in arrears. The Senior Notes are redeemable at the Company’s option, in whole or in part, at a redemption price defined in the indenture, and accrued and unpaid interest (if any) to the date of redemption. The Senior Notes are stated net of an aggregate unamortized premium of $31 million at March 31, 2022. Such premium is being amortized to interest expense in the accompanying condensed consolidated statements of operations. Senior Credit Facility In connection with the closing of the Combination on December 18, 2020, GCI, LLC became an indirect wholly owned subsidiary of the Company. GCI, LLC is the borrower under the Senior Credit Facility (as defined below). On October 15, 2021, GCI, LLC entered into an Eighth Amended and Restated Credit Agreement (the “Senior Credit Facility”), which includes a $550 million revolving credit facility, with a $25 million sublimit for standby letters of credit, that matures on October 15, 2026 and a $250 million Term Loan A that matures on October 15, 2027. Additionally, the $400 million Term Loan B which existed prior to the amendment, was repaid in full using the proceeds from the new Term Loan A together with $150 million in borrowings under the revolving credit facility. The revolving credit facility borrowings under the Senior Credit Facility that are alternate base rate loans bear interest at a per annum rate equal to the alternate base rate plus a margin that varies between 0.50% and 1.75% depending on GCI, LLC’s total leverage ratio. The revolving credit facility borrowings under the Senior Credit Facility that are LIBOR loans bear interest at a per annum rate equal to the applicable LIBOR plus a margin that varies between 1.50% and 2.75% depending on GCI, LLC’s total leverage ratio. Term Loan A borrowings that are alternate base rate loans bear interest at a per annum rate equal to the alternate base rate plus a margin that varies between 1.00% and 2.25% depending on GCI, LLC’s total leverage ratio. Term Loan A borrowings that are LIBOR loans bear interest at a per annum rate equal to the applicable LIBOR plus a margin that varies between 2.00% and 3.25% depending on GCI, LLC’s total leverage ratio. Principal payments are due quarterly on the Term Loan A equal to 0.25% of the original principal amount, which may step up to 1.25% of the original principal amount of the Term Loan A depending on GCI, LLC’s secured leverage ratio. Each loan may be prepaid at any time and from time to time without penalty other than customary breakage costs. Any amounts prepaid on the revolving credit facility may be reborrowed. The Senior Credit Facility also provides for customary LIBOR replacement provisions. Prior to the amendment, he borrowings under the Senior Credit Facility bore interest at either the alternate base rate or LIBOR (based on an interest period selected by GCI, LLC of one month, two months, three months or six months) at the election of GCI, LLC in each case plus a margin. The revolving credit facility borrowings that were alternate base rate loans bore interest at a per annum rate equal to the alternate base rate plus a margin that varied between 0.50% and 1.75% depending on GCI, LLC’s total leverage ratio. The revolving credit facility borrowings that were LIBOR loans bore interest at a per annum rate equal to the applicable LIBOR plus a margin that varied between 1.50% and 2.75% depending on GCI, LLC’s total leverage ratio. Term Loan B borrowings that were alternate base rate loans bore interest at a per annum rate equal to the alternate base rate plus a margin of 1.75% . Term Loan B borrowings that were LIBOR loans bore interest at a per annum rate equal to the applicable LIBOR plus a margin of 2.75% with a LIBOR floor of 0.75% . GCI, LLC’s First Lien Leverage Ratio (as defined in the Senior Credit Facility) may not exceed 4.00 to 1.00. The terms of the Senior Credit Facility include customary representations and warranties, customary affirmative and negative covenants and customary events of default. At any time after the occurrence of an event of default under the Senior Credit Facility, the lenders may, among other options, declare any amounts outstanding under the Senior Credit Facility immediately due and payable and terminate any commitment to make further loans under the Senior Credit Facility. The obligations under the Senior Credit Facility are secured by a security interest on substantially all of the assets of GCI, LLC and the subsidiary guarantors, as defined in the Senior Credit Facility, and on the stock of GCI Holdings. As of March 31, 2022, there was $249 million outstanding under the Term Loan A, $150 million outstanding under the revolving portion of the Senior Credit Facility and $3 million in letters of credit under the Senior Credit Facility, leaving $397 million available for borrowing. During the three months ended March 31, 2021, GCI, LLC repaid $180 million on its revolving credit facility. Wells Fargo Note Payable In connection with the closing of the Combination on December 18, 2020, the Company assumed GCI Holdings’ outstanding $6 million under its Wells Fargo Note Payable (as defined below). GCI Holdings issued a note to Wells Fargo that matures on July 15, 2029 and is payable in monthly installments of principal and interest (the "Wells Fargo Note Payable"). The interest rate is variable at one month LIBOR plus 2.25%. The note also provides for customary LIBOR replacement provisions. The note is subject to similar affirmative and negative covenants as the Senior Credit Facility. The obligations under the note are secured by a security interest and lien on the building purchased with the note. Debt Covenants GCI, LLC is subject to covenants and restrictions under its Senior Notes and Senior Credit Facility. The Company and GCI, LLC are in compliance with all debt maintenance covenants as of March 31, 2022. Fair Value of Debt The fair value of the Senior Notes was $588 million at March 31, 2022. Due to the variable rate nature of the Margin Loan, Senior Credit Facility and Wells Fargo Note Payable, the Company believes that the carrying amount approximates fair value at March 31, 2022.

Preferred Stock

Preferred Stock	3 Months Ended
	Mar. 31, 2022
Preferred Stock.
Preferred Stock	(7) 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. Liberty Broadband Series A Cumulative Redeemable Preferred Stock (“Liberty Broadband Preferred Stock”) was issued as a result of the Combination on December 18, 2020. Each share of Series A Cumulative Redeemable Preferred Stock of GCI Liberty outstanding immediately prior to the closing of the Combination was converted into one share of newly issued Liberty Broadband Preferred Stock. The Company is required to redeem all outstanding shares of Liberty Broadband Preferred Stock out of funds legally available, at the liquidation price plus all unpaid dividends (whether or not declared) accrued from the most recent dividend payment date through the redemption date, on the first business day following March 8, 2039. There were 7,300,000 shares of Liberty Broadband Preferred Stock authorized and 7,184,124 shares issued and outstanding Preferred Stock are recorded as interest expense in the Company’s condensed consolidated statements of operations. Liberty Broadband Preferred Stock has one-third The liquidation price is measured per share and shall mean the sum of (i) $25, plus (ii) an amount equal to all unpaid dividends (whether or not declared) accrued with respect to such share have been added to and then remain part of the liquidation price as of such date. The fair value of Liberty Broadband Preferred Stock of $203 million was recorded at the time of the Combination. The holders of shares of Liberty Broadband Preferred Stock are entitled to receive, when and as declared by the Liberty Broadband board of directors, out of legally available funds, preferential dividends that accrue and cumulate as provided in the certificate of designations for the Liberty Broadband Preferred Stock. Dividends on each share of Liberty Broadband Preferred Stock accrue on a daily basis at a rate of 7.00% per annum of the liquidation price. Accrued dividends are payable quarterly on each dividend payment date, which is January 15, April 15, July 15, and October 15 of each year, commencing January 15, 2021. If Liberty Broadband fails to pay cash dividends on the Liberty Broadband Preferred Stock in full for any four consecutive or non-consecutive dividend periods then the dividend rate shall increase by 2.00% per annum of the liquidation price until cured. On March 14, 2022, the Company announced that its board of directors had declared a quarterly cash dividend of approximately $0.44 per share of Liberty Broadband Preferred Stock which was paid on April 15, 2022 to shareholders of record of the Liberty Broadband Preferred Stock at the close of business on March 31, 2022.

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Mar. 31, 2022
Stock-Based Compensation
Stock-Based Compensation	(8) Stock-Based Compensation Liberty Broadband grants, to certain of its directors, employees and employees of its subsidiaries, restricted stock units and stock options to purchase shares of its common stock (collectively, "Awards"). The Company measures the cost of employee services received in exchange for an equity classified Award (such as stock options and restricted stock) based on the grant-date fair value (“GDFV”) of the Award, and recognizes that cost over the period during which the employee is required to provide service (usually the vesting period of the Award). The Company measures the cost of employee services received in exchange for a liability classified Award based on the current fair value of the Award, and re-measures the fair value of the Award at each reporting date. Included in selling, general and administrative expenses in the accompanying consolidated statements of operations are $9 million and $10 million of stock-based compensation during the three months ended March 31, 2022 and 2021, respectively. Liberty Broadband – Grants of Awards During the three months ended March 31, 2022, Liberty Broadband granted 136 thousand options to purchase shares of Series C Liberty Broadband common stock to our CEO in connection with his employment agreement. Such options had a GDFV of $39.10 per share and vest on December 30, 2022. There were no options to purchase shares of Series A or Series B The Company has calculated the GDFV for all of its equity classified awards and any subsequent re-measurement of its liability classified awards using the Black-Scholes Model. The Company estimates the expected term of the Awards based on historical exercise and forfeiture data. The volatility used in the calculation for Awards is based on the historical volatility of Liberty Broadband common stock. The Company uses a zero dividend rate and the risk-free rate for Treasury Bonds with a term similar to that of the subject options. Liberty Broadband – Outstanding Awards The following table presents 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 C ​ WAEP ​ life ​ value ​ ​ (in thousands) ​ ​ ​ ​ (in years) ​ (in millions) Outstanding at January 1, 2022 3,483 ​ $ 96.61 ​ ​ ​ ​ ​ Granted 136 ​ $ 138.26 ​ ​ ​ ​ ​ Exercised (7) ​ $ 62.03 ​ ​ ​ ​ ​ Forfeited/cancelled ​ — ​ $ — ​ ​ ​ ​ ​ ​ Outstanding at March 31, 2022 3,612 ​ $ 98.25 4.1 ​ $ 159 ​ Exercisable at March 31, 2022 2,172 ​ $ 67.10 3.2 ​ $ 151 ​ ​ As of March 31, 2022, Liberty Broadband also had 1 thousand Series A options and 315 thousand Series B options outstanding and exercisable at a WAEP of $35.81 and $96.25, respectively, and a weighted average remaining contractual life of 0.7 years and 2.2 years, respectively. As of March 31, 2022, the total unrecognized compensation cost related to unvested Awards was approximately $66 million. Such amount will be recognized in the Company's condensed consolidated statements of operations over a weighted average period of approximately 1.6 years. As of March 31, 2022, Liberty Broadband reserved 3.9 million shares of Series A, Series B and Series C common stock for issuance under exercise privileges of outstanding stock Awards.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2022
Commitments and Contingencies
Commitments and Contingencies	(9) Commitments and Contingencies General Litigation The Company has contingent liabilities related to legal and tax proceedings and other matters arising in the ordinary course of business. Although it is reasonably possible the Company may incur losses upon conclusion of such matters, an estimate of any loss or range of loss cannot be made. In the opinion of management, it is expected that amounts, if any, which may be required to satisfy such contingencies will not be material in relation to the accompanying condensed consolidated financial statements. Hollywood Firefighters’ Pension Fund, et al. v. GCI Liberty, Inc., et al. relationships among members of the GCI Liberty special committee, Mr. Malone and Mr. Maffei rendered the members of the GCI Liberty special committee not independent.

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2022
Segment Information
Segment Information	(10) 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. For the three months ended March 31, 2022, Liberty Broadband has identified the following consolidated company and equity method investment as its reportable segments: ● GCI Holdings – a wholly owned subsidiary of the Company that provides a full range of wireless, data, video, voice, and managed services to residential, businesses, governmental entities, and educational and medical institutions primarily in Alaska. ● 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 segment that is also a consolidated company are the same as those described in the Company’s summary of significant accounting policies in the Company’s annual financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2021. 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 tables below and subsequently eliminated in order to reconcile the account totals to the Liberty Broadband condensed consolidated financial statements. Performance Measures ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ ​ ​ March 31, ​ ​ ​ 2022 2021 ​ ​ ​ amounts in millions ​ GCI Holdings ​ ​ ​ Consumer Revenue ​ ​ ​ Wireless ​ $ 34 ​ 32 ​ Data ​ 58 ​ 52 ​ Other ​ 14 ​ 23 ​ Business Revenue ​ ​ ​ ​ ​ Wireless ​ 13 ​ 19 ​ Data ​ 89 ​ 90 ​ Other ​ 6 ​ 7 ​ Lease, grant, and revenue from subsidies ​ 19 ​ 19 ​ Total GCI Holdings ​ ​ 233 ​ 242 ​ Corporate and other ​ ​ 5 ​ 5 ​ Total ​ $ 238 247 ​ ​ The Company expects to recognize revenue in the future related to performance obligations that are unsatisfied (or partially unsatisfied) of approximately $164 million in the remainder of 2022 2023 2024 2025 2026 For segment reporting purposes, Liberty Broadband defines Adjusted OIBDA as revenue less operating expenses and selling, general and administrative expenses excluding stock-based compensation. Liberty Broadband believes this measure is an important indicator of the operational strength and performance of its businesses by identifying those items that are not directly a reflection of each business’ performance or indicative of ongoing business trends. 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, transaction costs, 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. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended March 31, ​ ​ ​ 2022 ​ 2021 ​ ​ ​ amounts in millions GCI Holdings $ 87 96 Charter ​ 5,212 ​ 4,643 ​ Corporate and other ​ (7) ​ (13) ​ ​ ​ 5,292 ​ 4,726 ​ Eliminate equity method affiliate ​ (5,212) ​ (4,643) ​ Consolidated Liberty Broadband ​ $ 80 ​ 83 ​ ​ Other Information ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2022 ​ ​ Total ​ Investments ​ Capital ​ ​ assets ​ in affiliate ​ expenditures ​ ​ amounts in millions GCI Holdings ​ $ 3,463 ​ — ​ 32 ​ Charter ​ 143,948 — 1,857 ​ Corporate and other ​ 13,167 12,903 — ​ ​ ​ 160,578 12,903 1,889 ​ Eliminate equity method affiliate ​ (143,948) — (1,857) ​ Consolidated Liberty Broadband ​ $ 16,630 12,903 32 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ ​ March 31, ​ ​ 2022 ​ 2021 ​ ​ ​ amounts in millions Adjusted OIBDA $ 80 83 ​ Stock-based compensation ​ (9) ​ (10) ​ Depreciation and amortization ​ (64) ​ (64) ​ Litigation settlement, net of recoveries ​ ​ — ​ (110) ​ Operating income (loss) ​ ​ 7 ​ (101) ​ Interest expense ​ ​ (26) ​ (33) ​ Share of earnings (loss) of affiliate, net ​ 303 ​ 189 ​ Gain (loss) on dilution of investment in affiliate ​ (56) ​ (82) ​ Realized and unrealized gains (losses) on financial instruments, net ​ 137 ​ 99 ​ Other, net ​ (21) ​ (8) ​ Earnings (loss) before income taxes ​ $ 344 ​ 64 ​ ​

Basis of Presentation (Policies

Basis of Presentation (Policies)	3 Months Ended
	Mar. 31, 2022
Summary of Significant Accounting Policies
Recently Announced Accounting Pronouncements

Earnings Attributable to Libe_2

Earnings Attributable to Liberty Broadband Stockholders Per Common Share (Tables)	3 Months Ended
	Mar. 31, 2022
Earnings Attributable to Liberty Broadband Stockholders Per Common Share
Schedule of weighted average number of shares	​ ​ ​ ​ ​ ​ ​ ​ ​ Liberty Broadband Common Stock ​ ​ ​ Three months ​ Three months ​ ​ ended ​ ended ​ ​ ​ March 31, 2022 ​ March 31, 2021 ​ ​ (numbers of shares in millions) ​ Basic WASO 167 194 ​ Potentially dilutive shares (1) 2 2 ​ Diluted WASO 169 196 ​ (1) Potentially dilutive shares are excluded from the computation of diluted EPS during periods in which losses are reported since the result would be antidilutive.

Assets and Liabilities Measur_2

Assets and Liabilities Measured at Fair Value (Tables)	3 Months Ended
	Mar. 31, 2022
Assets and Liabilities Measured at Fair Value
Schedule of assets and liabilities measured at fair value	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2022 ​ December 31, 2021 ​ ​ ​ ​ ​ 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 millions Cash equivalents ​ $ 152 ​ 152 ​ — ​ 118 ​ 118 ​ — ​ Indemnification obligation ​ $ 239 ​ — ​ 239 ​ 324 ​ — ​ 324 ​ Exchangeable senior debentures ​ $ 1,381 ​ — ​ 1,381 ​ 1,428 ​ — ​ 1,428 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Schedule of realized and unrealized gains (losses) on financial instruments	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ ​ March 31, ​ ​ 2022 ​ 2021 ​ ​ amounts in millions Indemnification obligation ​ $ 85 ​ 52 ​ Exchangeable senior debentures (1) ​ ​ 52 ​ 47 ​ ​ ​ $ 137 ​ 99 ​ (1) The Company has elected to account for its exchangeable senior debentures using the fair value option. Changes in the fair value of the exchangeable senior debentures recognized in the condensed consolidated statements of operations are primarily due to market factors driven by changes in the fair value of the underlying shares into which the debt is exchangeable. The Company isolates the portion of the unrealized gain (loss) attributable to the change in the instrument specific credit risk and recognizes such amount in other comprehensive income. The change in the fair value of the exchangeable senior debentures attributable to changes in the instrument specific credit risk before tax was a loss of $6 million and a gain of less than $1 million for the three months ended March 31, 2022 and 2021, respectively . The cumulative change was a gain of $1 million as of March 31, 2022.

Investment in Charter Account_2

Investment in Charter Accounted for Using the Equity Method (Tables)	3 Months Ended
	Mar. 31, 2022
Investment in Charter Accounted for Using the Equity Method
Schedule of allocation of excess basis within memo accounts used for equity accounting purposes	The excess basis in our investment in Charter of $9,136 million as of March 31, 2022 is allocated within memo accounts used for equity method accounting purposes as follows (amounts in millions): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, ​ December 31, ​ ​ ​ ​ 2022 ​ 2021 ​ Property and equipment $ 676 ​ 661 ​ Customer relationships ​ 2,537 ​ 2,537 ​ Franchise fees ​ 3,935 ​ 3,828 ​ Trademarks ​ 29 ​ 29 ​ Goodwill ​ 4,150 ​ 4,024 ​ Debt ​ (534) ​ (535) ​ Deferred income tax liability ​ (1,657) ​ (1,626) ​ ​ ​ $ 9,136 ​ 8,918 ​
Summary of financial information for Charter	Charter condensed consolidated balance sheets ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2022 ​ December 31, 2021 ​ ​ amounts in millions ​ Current assets ​ $ 5,516 ​ 3,566 ​ Property and equipment, net ​ 34,173 ​ 34,310 ​ Goodwill ​ 29,563 ​ 29,562 ​ Intangible assets, net ​ 71,046 ​ 71,406 ​ Other assets ​ 3,650 ​ 3,647 ​ Total assets ​ $ 143,948 ​ 142,491 ​ Current liabilities ​ $ 13,929 ​ 12,458 ​ Deferred income taxes ​ 19,070 ​ 19,096 ​ Long-term debt ​ 90,679 ​ 88,564 ​ Other liabilities ​ 4,326 ​ 4,217 ​ Equity ​ 15,944 ​ 18,156 ​ Total liabilities and shareholders’ equity ​ $ 143,948 ​ 142,491 ​ Charter condensed consolidated statements of operations ​ ​ ​ ​ ​ ​ Three months ended ​ March 31, ​ 2022 ​ 2021 ​ amounts in millions Revenue $ 13,200 ​ 12,522 Cost and expenses: ​ ​ ​ ​ Operating costs and expenses (excluding depreciation and amortization) 8,134 ​ 7,711 Depreciation and amortization 2,294 ​ 2,441 Other operating expenses, net 1 ​ 302 ​ ​ 10,429 ​ 10,454 Operating income ​ 2,771 ​ 2,068 Interest expense, net (1,060) ​ (983) Other income (expense), net ​ 23 ​ 52 Income tax (expense) benefit (345) ​ (216) Net income (loss) ​ 1,389 ​ 921 Less: Net income attributable to noncontrolling interests ​ (186) ​ (114) Net income (loss) attributable to Charter shareholders $ 1,203 ​ 807

Intangible Assets (Tables)

Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2022
Intangible Assets
Schedule of Intangible Assets Subject to Amortization, net	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2022 December 31, 2021 ​ ​ Gross ​ ​ ​ Net ​ Gross ​ ​ ​ Net ​ ​ carrying ​ Accumulated ​ carrying ​ carrying ​ Accumulated ​ carrying ​ amount amortization amount amount amortization amount ​ ​ amounts in millions Customer relationships ​ $ 515 ​ (59) ​ 456 ​ ​ 515 ​ (49) ​ 466 Other amortizable intangibles ​ 140 ​ (37) ​ 103 ​ 138 ​ (31) ​ 107 Total ​ $ 655 ​ (96) ​ 559 ​ ​ 653 ​ (80) ​ 573
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense	Amortization expense for amortizable intangible assets for each of the five succeeding fiscal years is estimated to be (amounts in millions): ​ ​ ​ ​ ​ Remainder of 2022 ​ $ 49 2023 ​ $ 59 2024 ​ $ 53 2025 ​ $ 51 2026 ​ $ 48

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2022
Debt
Schedule of debt	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Outstanding ​ ​ ​ principal ​ Carrying value ​ ​ March 31, ​ March 31, ​ December 31, ​ 2022 2022 2021 ​ amounts in millions ​ Margin Loan Facility ​ $ 1,600 ​ 1,600 1,300 ​ 2.75% Exchangeable Senior Debentures due 2050 ​ 575 ​ 569 585 ​ 1.25% Exchangeable Senior Debentures due 2050 ​ ​ 825 ​ ​ 790 ​ 818 ​ 1.75% Exchangeable Senior Debentures due 2046 ​ ​ 15 ​ ​ 22 ​ 25 ​ Senior notes ​ 600 ​ 631 632 ​ Senior credit facility ​ 399 ​ 399 399 ​ Wells Fargo note payable ​ 6 ​ 6 6 ​ Deferred financing costs ​ ​ ​ (3) (4) ​ Total debt ​ $ 4,020 ​ 4,014 3,761 ​ Debt classified as current ​ ​ ​ (25) (28) ​ Total long-term debt ​ ​ ​ ​ $ 3,989 3,733 ​

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2022
Series C common stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
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, 2022 3,483 ​ $ 96.61 ​ ​ ​ ​ ​ Granted 136 ​ $ 138.26 ​ ​ ​ ​ ​ Exercised (7) ​ $ 62.03 ​ ​ ​ ​ ​ Forfeited/cancelled ​ — ​ $ — ​ ​ ​ ​ ​ ​ Outstanding at March 31, 2022 3,612 ​ $ 98.25 4.1 ​ $ 159 ​ Exercisable at March 31, 2022 2,172 ​ $ 67.10 3.2 ​ $ 151 ​

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2022
Segment Information
Schedule of performance measures	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ ​ ​ March 31, ​ ​ ​ 2022 2021 ​ ​ ​ amounts in millions ​ GCI Holdings ​ ​ ​ Consumer Revenue ​ ​ ​ Wireless ​ $ 34 ​ 32 ​ Data ​ 58 ​ 52 ​ Other ​ 14 ​ 23 ​ Business Revenue ​ ​ ​ ​ ​ Wireless ​ 13 ​ 19 ​ Data ​ 89 ​ 90 ​ Other ​ 6 ​ 7 ​ Lease, grant, and revenue from subsidies ​ 19 ​ 19 ​ Total GCI Holdings ​ ​ 233 ​ 242 ​ Corporate and other ​ ​ 5 ​ 5 ​ Total ​ $ 238 247 ​
Schedule of segment reporting information	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended March 31, ​ ​ ​ 2022 ​ 2021 ​ ​ ​ amounts in millions GCI Holdings $ 87 96 Charter ​ 5,212 ​ 4,643 ​ Corporate and other ​ (7) ​ (13) ​ ​ ​ 5,292 ​ 4,726 ​ Eliminate equity method affiliate ​ (5,212) ​ (4,643) ​ Consolidated Liberty Broadband ​ $ 80 ​ 83 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2022 ​ ​ Total ​ Investments ​ Capital ​ ​ assets ​ in affiliate ​ expenditures ​ ​ amounts in millions GCI Holdings ​ $ 3,463 ​ — ​ 32 ​ Charter ​ 143,948 — 1,857 ​ Corporate and other ​ 13,167 12,903 — ​ ​ ​ 160,578 12,903 1,889 ​ Eliminate equity method affiliate ​ (143,948) — (1,857) ​ Consolidated Liberty Broadband ​ $ 16,630 12,903 32 ​
Schedule of reconciliation of segment Adjusted OIBDA to earnings (loss) before income taxes	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ ​ March 31, ​ ​ 2022 ​ 2021 ​ ​ ​ amounts in millions Adjusted OIBDA $ 80 83 ​ Stock-based compensation ​ (9) ​ (10) ​ Depreciation and amortization ​ (64) ​ (64) ​ Litigation settlement, net of recoveries ​ ​ — ​ (110) ​ Operating income (loss) ​ ​ 7 ​ (101) ​ Interest expense ​ ​ (26) ​ (33) ​ Share of earnings (loss) of affiliate, net ​ 303 ​ 189 ​ Gain (loss) on dilution of investment in affiliate ​ (56) ​ (82) ​ Realized and unrealized gains (losses) on financial instruments, net ​ 137 ​ 99 ​ Other, net ​ (21) ​ (8) ​ Earnings (loss) before income taxes ​ $ 344 ​ 64 ​

Basis of Presentation (Details)

Basis of Presentation (Details) - USD ($) shares in Millions, $ in Millions	May 02, 2022	Dec. 31, 2021	Mar. 31, 2022	Mar. 31, 2021	Jan. 26, 2022	Aug. 05, 2021	Feb. 23, 2021
Liberty
Reimbursable amount			$ 3	$ 4
Qurate Retail
Tax sharing receivable		$ 86	$ 63
CEO | Liberty
CEO compensation allocation percentage		33.00%
Charter.
Fully Diluted Ownership Percentage			26.00%
Series A and C Common Stock
Stock Repurchase Program, Authorized Amount							$ 2,230
Stock repurchase program, additional authorized amount					$ 2,215	$ 2,105
Number of shares repurchased			5.7
Value of stock repurchased			$ 843
Remaining authorized repurchase amount			$ 2,000
Series C common stock
Number of shares repurchased				4.9
Value of stock repurchased				$ 738
Subsequent event | Skyhook
Sales on proceeds	$ 170

Earnings Attributable to Libe_3

Earnings Attributable to Liberty Broadband Stockholders Per Common Share (Details) - shares shares in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Earnings Attributable to Liberty Broadband Stockholders Per Common Share
Antidilutive shares	1	1
Basic WASO	167	194
Potentially dilutive shares	2	2
Diluted WASO	169	196

Assets and Liabilities Measur_3

Assets and Liabilities Measured at Fair Value - Schedule of Assets and Liabilities (Details) - Recurring - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	$ 152	$ 118
Indemnification obligation	239	324
Exchangeable senior debentures	1,381	1,428
Quoted prices in active markets for identical assets (Level 1)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	152	118
Significant other observable inputs (Level 2)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Indemnification obligation	239	324
Exchangeable senior debentures	$ 1,381	$ 1,428

Assets and Liabilities Measur_4

Assets and Liabilities Measured at Fair Value - Schedule of Realized and Unrealized Gains (Losses) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Realized and unrealized gains (losses) on financial instruments, net (note 3)	$ 137	$ 99
Indemnification Obligation
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Realized and unrealized gains (losses) on financial instruments, net (note 3)	85	52
Exchangeable senior debentures
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Realized and unrealized gains (losses) on financial instruments, net (note 3)	$ 52	$ 47

Assets and Liabilities Measur_5

Assets and Liabilities Measured at Fair Value (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021	Dec. 18, 2020
1.75% Exchangeable Senior Debentures due 2046
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Interest rate (as a percent)	1.75%		1.75%
1.25% Exchangeable Senior Debentures due 2050
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Interest rate (as a percent)	1.25%		1.25%
2.75% Exchangeable Senior Debentures due 2050
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Interest rate (as a percent)	2.75%		2.75%
Exchangeable senior debentures
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Change in fair value	$ (6)
Cumulative change	$ 1
Exchangeable senior debentures | Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Change in fair value		$ 1
Exchangeable senior debentures | 1.75% Exchangeable Senior Debentures due 2046 | Indemnification obligation | LI LLC
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Interest rate (as a percent)	1.75%
Indemnity obligation recorded				$ 336

Investment in Affiliates Accoun

Investment in Affiliates Accounted for Using the Equity Method (Details) - Charter. - USD ($) $ in Millions	1 Months Ended	3 Months Ended
	Apr. 30, 2022	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Investments in affiliates accounted for using the Equity Method
Carrying value of equity method investment		$ 12,902		$ 13,260
Market value of equity method investment		$ 28,600
Ownership capped percentage		25.01%
Fully diluted ownership percentage		26.00%
Ownership percentage		31.20%
Voting interest cap		25.01%
Series A common stock
Investments in affiliates accounted for using the Equity Method
Equity investment shares sold		970,241	834,576
Proceeds from sale of equity method investments		$ 602	$ 518
Series A common stock | Subsequent event
Investments in affiliates accounted for using the Equity Method
Equity investment shares sold	863,719
Proceeds from sale of equity method investments	$ 491

Investments in Affiliates Accou

Investments in Affiliates Accounted for Using the Equity Method - Excess Basis Allocation (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Excess basis allocation within memo accounts
Share of earnings (loss) of affiliates, net	$ 303	$ 189
Loss on dilution of investment in affiliate	(56)	(82)
Charter.
Excess basis allocation within memo accounts
Property and equipment	676		$ 661
Customer relationships	2,537		2,537
Franchise fees	3,935		3,828
Trademarks	29		29
Goodwill	4,150		4,024
Debt	(534)		(535)
Deferred income tax liability	(1,657)		(1,626)
Total	9,136		$ 8,918
Amortization of Deferred Charges	67	58
Loss on dilution of investment in affiliate	$ (56)	$ (82)
Charter. | Customer relationships
Excess basis allocation within memo accounts
Remaining useful lives of customer relationships	9 years
Charter. | Property, Plant and Equipment
Excess basis allocation within memo accounts
Remaining useful lives of property and equipment	5 years

Investment in Affiliates Acco_2

Investment in Affiliates Accounted for Using the Equity Method -Summarized Financial Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Investments in affiliates accounted for using the Equity Method
Current assets	$ 546		$ 459
Property and equipment, net	1,010		1,031
Goodwill	762		762
Other assets	201		210
Total assets	16,630		16,968
Current liabilities	537		582
Deferred income taxes	2,002		1,998
Long-term debt	4,014		3,761
Other liabilities	177		189
Equity	9,583		10,127
Total liabilities and equity	16,630		16,968
Operating costs and expenses (excluding depreciation and amortization)	66	$ 69
Depreciation and amortization	64	64
Total operating costs and expenses	231	348
Operating income (loss)	7	(101)
Interest expense, net	(26)	(33)
Other income (expense), net	(21)	(8)
Income tax benefit (expense)	(45)	(12)
Net earnings (loss)	299	52
Net earnings (loss) attributable to Liberty Broadband shareholders	299	52
Charter.
Investments in affiliates accounted for using the Equity Method
Current assets	5,516		3,566
Property and equipment, net	34,173		34,310
Goodwill	29,563		29,562
Intangible assets, net	71,046		71,406
Other assets	3,650		3,647
Total assets	143,948		142,491
Current liabilities	13,929		12,458
Deferred income taxes	19,070		19,096
Long-term debt	90,679		88,564
Other liabilities	4,326		4,217
Equity	15,944		18,156
Total liabilities and equity	143,948		$ 142,491
Revenue	13,200	12,522
Operating costs and expenses (excluding depreciation and amortization)	8,134	7,711
Depreciation and amortization	2,294	2,441
Other operating expenses, net	1	302
Total operating costs and expenses	10,429	10,454
Operating income (loss)	2,771	2,068
Interest expense, net	(1,060)	(983)
Other income (expense), net	23	52
Income tax benefit (expense)	(345)	(216)
Net earnings (loss)	1,389	921
Less: Net income attributable to noncontrolling interests	(186)	(114)
Net earnings (loss) attributable to Liberty Broadband shareholders	$ 1,203	$ 807

Intangible Assets - Intangible

Intangible Assets - Intangible Assets Subject to Amortization (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 655	$ 653
Accumulated Amortization	(96)	(80)
Net carrying amount	559	573
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	515	515
Accumulated Amortization	(59)	(49)
Net carrying amount	456	466
Other amortizable intangibles
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	140	138
Accumulated Amortization	(37)	(31)
Net carrying amount	$ 103	$ 107

Intangible Assets - Future Amor

Intangible Assets - Future Amortization Expense (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Intangible Assets
Amortization expense	$ 17	$ 19
Years ending December 31,
Remainder of 2022	49
2023	59
2024	53
2025	51
2026	$ 48

Debt - Summary of Debt (Details

Debt - Summary of Debt (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Outstanding principal	$ 4,020
Deferred financing costs	(3)	$ (4)
Total	4,014	3,761
Debt classified as current	(25)	(28)
Total long-term debt	3,989	3,733
2.75% Exchangeable Senior Debentures due 2050
Debt Instrument [Line Items]
Outstanding principal	575
Carrying value	$ 569	$ 585
Interest rate (as a percent)	2.75%	2.75%
1.25% Exchangeable Senior Debentures due 2050
Debt Instrument [Line Items]
Outstanding principal	$ 825
Carrying value	$ 790	$ 818
Interest rate (as a percent)	1.25%	1.25%
1.75% Exchangeable Senior Debentures due 2046
Debt Instrument [Line Items]
Outstanding principal	$ 15
Carrying value	$ 22	$ 25
Interest rate (as a percent)	1.75%	1.75%
Senior notes
Debt Instrument [Line Items]
Outstanding principal	$ 600
Carrying value	631	$ 632
Line of credit
Debt Instrument [Line Items]
Outstanding principal	399
Carrying value	399	399
Wells Fargo note payable
Debt Instrument [Line Items]
Outstanding principal	6
Carrying value	6	6
SPV | Margin Loan Facility
Debt Instrument [Line Items]
Outstanding principal	1,600
Carrying value	$ 1,600	$ 1,300

Debt (Details)

Debt (Details) - USD ($) shares in Millions, $ in Millions	May 12, 2021	Dec. 18, 2020	Aug. 12, 2020	Mar. 31, 2022	Dec. 31, 2021
2.75% Exchangeable Senior Debentures due 2050
Debt disclosures
Carrying value				$ 569	$ 585
Interest rate (as a percent)				2.75%	2.75%
1.25% Exchangeable Senior Debentures due 2050
Debt disclosures
Carrying value				$ 790	$ 818
Interest rate (as a percent)				1.25%	1.25%
1.75% Exchangeable Senior Debentures due 2046
Debt disclosures
Carrying value				$ 22	$ 25
Interest rate (as a percent)				1.75%	1.75%
Exchange of debentures based on share price exceeds on par value				130.00%
Minimum number of days share price exceeds par value				20 days
Number of trading days				30 days
Exchange period				1 year
Line of credit
Debt disclosures
Carrying value				$ 399	$ 399
SPV | Margin Loan Facility
Debt disclosures
Borrowings				300
Carrying value				$ 1,600	$ 1,300
Number of business days prior to the maturity date				5 days
Remaining borrowing capacity				$ 700
SPV | Margin Loan Facility | Charter.
Debt disclosures
Number of common shares pledged as collateral				12.3
Value of pledged collateral				$ 6,700
SPV | Margin Loan Facility | Three-month LIBOR
Debt disclosures
Interest rate basis			three-month LIBOR
Basis spread on variable rate	1.50%	1.85%	1.50%
SPV | Term loan
Debt disclosures
Carrying value	$ 1,150
SPV | Revolving Credit Facility
Debt disclosures
Maximum borrowing capacity	1,150
Amount outstanding	0
SPV | Uncommitted Incremental Term Loan Facility
Debt disclosures
Maximum borrowing capacity	$ 200

Debt - Senior Notes and Senior

Debt - Senior Notes and Senior Credit Facility (Details) $ in Millions	Oct. 15, 2021USD ($)	Dec. 18, 2020USD ($)	Oct. 15, 2020	Mar. 31, 2022USD ($)	Mar. 31, 2021USD ($)	Dec. 31, 2021USD ($)
Debt Instrument [Line Items]
Outstanding principal				$ 4,020
Fair value of debt				1,359		$ 1,403
Senior Notes
Debt Instrument [Line Items]
Fair value of debt				588
Senior Notes | GCI Liberty Inc
Debt Instrument [Line Items]
Outstanding principal		$ 600
Interest rate (as a percent)		4.75%
Aggregate unamortized premium				31
Line of credit
Debt Instrument [Line Items]
Outstanding principal				399
Line of credit | GCI, LLC
Debt Instrument [Line Items]
Proceeds from revolving credit facility	$ 150
Amount available for borrowing				397
Line of credit | Revolving Credit Facility | GCI, LLC
Debt Instrument [Line Items]
Outstanding principal				150
Repayment of debt					$ 180
Line of credit | Revolving Credit Facility | LIBOR | GCI, LLC
Debt Instrument [Line Items]
Interest rate basis			LIBOR
Line of credit | Revolving Credit Facility | LIBOR | Minimum | GCI, LLC
Debt Instrument [Line Items]
Basis spread on variable rate			1.50%
Line of credit | Revolving Credit Facility | LIBOR | Maximum | GCI, LLC
Debt Instrument [Line Items]
Basis spread on variable rate			2.75%
Line of credit | Revolving Credit Facility | Alternate base rate | GCI, LLC
Debt Instrument [Line Items]
Interest rate basis	alternate base rate		alternate base rate
Line of credit | Revolving Credit Facility | Alternate base rate | Minimum | GCI, LLC
Debt Instrument [Line Items]
Basis spread on variable rate	0.50%		0.50%
Line of credit | Revolving Credit Facility | Alternate base rate | Maximum | GCI, LLC
Debt Instrument [Line Items]
Basis spread on variable rate	1.75%		1.75%
Line of credit | Standby Letters of Credit | GCI, LLC
Debt Instrument [Line Items]
Outstanding principal				3
Line of credit | Term Loan B | LIBOR | GCI, LLC
Debt Instrument [Line Items]
Interest rate basis			LIBOR
Basis spread on variable rate			2.75%
Line of credit | Term Loan B | LIBOR | Minimum | GCI, LLC
Debt Instrument [Line Items]
Interest rate (as a percent)			0.75%
Line of credit | Term Loan B | Alternate base rate | GCI, LLC
Debt Instrument [Line Items]
Interest rate basis			alternate base rate
Basis spread on variable rate			1.75%
Line of credit | Term Loan A | GCI, LLC
Debt Instrument [Line Items]
Outstanding principal				$ 249
Percentage of original principal amount	0.25%
Change in percentage of original principal amount	1.25%
Line of credit | Term Loan A | Minimum | GCI, LLC
Debt Instrument [Line Items]
Basis spread on variable rate	2.00%
Line of credit | Term Loan A | Maximum | GCI, LLC
Debt Instrument [Line Items]
Basis spread on variable rate	3.25%
Line of credit | Term Loan A | LIBOR | GCI, LLC
Debt Instrument [Line Items]
Interest rate basis	LIBOR
Line of credit | Term Loan A | Alternate base rate | Minimum | GCI, LLC
Debt Instrument [Line Items]
Basis spread on variable rate	1.00%
Line of credit | Term Loan A | Alternate base rate | Maximum | GCI, LLC
Debt Instrument [Line Items]
Basis spread on variable rate	2.25%
Senior Credit Facility | GCI, LLC
Debt Instrument [Line Items]
First lien leverage ratio				4
Revolving Credit Facility | GCI, LLC
Debt Instrument [Line Items]
Principal amount	$ 550
Revolving Credit Facility | LIBOR | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate	1.50%
Revolving Credit Facility | LIBOR | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate	2.75%
Standby Letters of Credit | GCI, LLC
Debt Instrument [Line Items]
Principal amount	$ 25
Term Loan B | GCI, LLC
Debt Instrument [Line Items]
Repayment of debt	400
Term Loan B | Term Loan A | GCI, LLC
Debt Instrument [Line Items]
Principal amount	$ 250
Wells Fargo Notes Payable | GCI Liberty Inc
Debt Instrument [Line Items]
Outstanding principal		$ 6
Wells Fargo Notes Payable | LIBOR | GCI Liberty Inc
Debt Instrument [Line Items]
Interest rate basis		LIBOR
Basis spread on variable rate		2.25%

Preferred Stock (Details)

Preferred Stock (Details) $ / shares in Units, $ in Millions	Apr. 15, 2022$ / shares	Dec. 18, 2020USD ($)period$ / shares	Mar. 31, 2022Vote / sharesshares
Preferred stock vote per share | Vote / shares			0.33
Preferred stock, additional shares authorized			42,700,000
Liquidation price per share | $ / shares		$ 25
Preferred stock fair value | $		$ 203
Dividend rate		7.00%
Failure to pay cash dividends, number of periods | period		4
Potential increase in dividend rate, over four dividend periods		2.00%
Subsequent event
Preferred stock, dividends paid per share | $ / shares	$ 0.44
Series A Cumulative Redeemable Preferred Stock.
Preferred stock, shares authorized			7,300,000
Preferred shares, shares issued			7,184,124
Preferred shares, shares outstanding			7,184,124
GCI Liberty Inc
Preferred stock distribution ratio		1

Stock-Based Compensation - Comp

Stock-Based Compensation - Compensation expense (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Stock-Based Compensation
Stock-based compensation	$ 9	$ 10

Stock-Based Compensation - Ince

Stock-Based Compensation - Incentive Plans and Grants of Stock Awards (Details)	3 Months Ended
	Mar. 31, 2022$ / sharesshares
Fair value assumptions
Dividend rate	0.00%
Options | Series A common stock
Stock Based Compensation
Options granted (in shares)	0
Options | Series B common stock
Stock Based Compensation
Options granted (in shares)	0
Options | Series C common stock
Stock Based Compensation
Options granted (in shares)	136,000
Options | CEO | Series C common stock
Stock Based Compensation
Options granted (in shares)	136,000
Options grant date fair value | $ / shares	$ 39.10

Stock-Based Compensation - Outs

Stock-Based Compensation - Outstanding Awards and Exercises (Details) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2022USD ($)$ / sharesshares
Awards | Common Class A, Class B And Class C
Compensation cost not yet recognized
Shares reserved for future issuance upon exercise of stock options	3,900,000
Options
Compensation cost not yet recognized
Unrecognized compensation cost options | $	$ 66
Period over which unrecognized compensation cost will be recognized	1 year 7 months 6 days
Options | Series A common stock
Options
Options granted (in shares)	0
Outstanding ending balance (in shares)	1,000
WAEP
WAEP Outstanding ending balance (in dollars per share) | $ / shares	$ 35.81
Options additional disclosures
Weighted average remaining contractual life outstanding	8 months 12 days
Options | Series B common stock
Options
Options granted (in shares)	0
Outstanding ending balance (in shares)	315,000
WAEP
WAEP Outstanding ending balance (in dollars per share) | $ / shares	$ 96.25
Options additional disclosures
Weighted average remaining contractual life outstanding	2 years 2 months 12 days
Options | Series C common stock
Options
Outstanding beginning balance (in shares)	3,483,000
Options granted (in shares)	136,000
Exercised (in shares)	(7,000)
Outstanding ending balance (in shares)	3,612,000
Number of awards exercisable (in shares)	2,172,000
WAEP
WAEP Outstanding beginning balance (in dollars per share) | $ / shares	$ 96.61
WAEP Options granted (in dollars per share) | $ / shares	138.26
WAEP options exercised (in dollars per share) | $ / shares	62.03
WAEP Outstanding ending balance (in dollars per share) | $ / shares	98.25
WAEP options exercisable (in dollars per share) | $ / shares	$ 67.10
Options additional disclosures
Weighted average remaining contractual life outstanding	4 years 1 month 6 days
Weighted average remaining contractual life exercisable	3 years 2 months 12 days
Aggregate intrinsic value outstanding | $	$ 159
Aggregate intrinsic value exercisable | $	$ 151
Options | CEO | Series C common stock
Options
Options granted (in shares)	136,000

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Millions	May 05, 2021USD ($)	Oct. 31, 2020plaintiff	Mar. 31, 2021USD ($)
Other Commitments [Line Items]
Litigation settlement expense			$ 110
Hollywood Firefighters' Pension Fund et al Versus GCI Liberty, Inc. et al
Other Commitments [Line Items]
Number of plaintiffs | plaintiff		2
Litigation settlement expense	$ 110

Segment Information (Details)

Segment Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Segment information
Gross receivables	$ 178		$ 217
Deferred revenue	30		32
Revenue	238	$ 247
Adjusted OIBDA	80	83
Total assets	16,630		$ 16,968
Investments in affiliates	12,903
Capital expenditures	$ 32
Charter
Segment information
Financial results included in the disclosure (as a percent)	100.00%
Operating segments | GCI Holdings
Segment information
Revenue	$ 233	242
Adjusted OIBDA	87	96
Total assets	3,463
Capital expenditures	32
Operating segments | GCI Holdings | Lease, grant, and revenue from subsidies
Segment information
Revenue	19	19
Operating segments | GCI Holdings | Consumer Revenue | Wireless
Segment information
Revenue	34	32
Operating segments | GCI Holdings | Consumer Revenue | Data
Segment information
Revenue	58	52
Operating segments | GCI Holdings | Consumer Revenue | Other revenue
Segment information
Revenue	14	23
Operating segments | GCI Holdings | Business Revenue | Wireless
Segment information
Revenue	13	19
Operating segments | GCI Holdings | Business Revenue | Data
Segment information
Revenue	89	90
Operating segments | GCI Holdings | Business Revenue | Other revenue
Segment information
Revenue	6	7
Operating segments | Charter
Segment information
Revenue	13,200	12,522
Adjusted OIBDA	5,212	4,643
Total assets	143,948
Capital expenditures	1,857
Corporate and other
Segment information
Revenue	5	5
Adjusted OIBDA	(7)	(13)
Total assets	13,167
Investments in affiliates	12,903
Operating Segments and Corporate and Other
Segment information
Adjusted OIBDA	5,292	4,726
Total assets	160,578
Investments in affiliates	12,903
Capital expenditures	1,889
Eliminate equity method affiliate
Segment information
Adjusted OIBDA	(5,212)	$ (4,643)
Total assets	(143,948)
Capital expenditures	$ (1,857)

Segment Information - Performan

Segment Information - Performance Obligations (Details) $ in Millions	Mar. 31, 2022USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Amount	$ 164
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	9 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Amount	$ 124
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Amount	$ 73
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Amount	$ 44
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Amount	$ 45
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year

Segment Information - Reconcili

Segment Information - Reconciliation Of Segment Adjusted OIBDA (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Reconciliation of consolidated segment Adjusted OIBDA to earnings (loss) before income taxes
Adjusted OIBDA	$ 80	$ 83
Stock-based compensation	(9)	(10)
Depreciation and amortization	(64)	(64)
Litigation settlement, net of recoveries		(110)
Operating income (loss)	7	(101)
Interest expense, net	(26)	(33)
Share of earnings (loss) of affiliates, net	303	189
Gain (loss) on dilution of investment in affiliate	(56)	(82)
Realized and unrealized gains (losses) on financial instruments, net	137	99
Other, net	(21)	(8)
Earnings (loss) before income taxes	$ 344	$ 64