L
Liberty Broadband Corp
LBRDACIK 0001611983NasdaqLarge AcceleratedCable & Other Pay Television ServicesFY ends Dec 31
Period
FY 2025
Revenue
—
Net Income
$-2.68B
Total Assets
$8.83B
Equity
$5.70B
Shares Out
—
Op. Cash Flow
$-327.00M
Business
Liberty Broadband Corp is primarily an owner of GCI Holdings and an equity method investor in Charter, operating through its consolidated subsidiary and significant Charter stake to participate in broadband and communications services. Its main products and services include data, wireless, video, voice and managed services, plus advertising and commercial connectivity offerings such as Spectrum Internet, TV, Mobile, Business and Enterprise solutions. Key business components comprise consolidated GCI Holdings operations and the equity investment in Charter with distinct residential, SMB, enterprise, advertising and community solutions lines. Distribution and markets include GCI’s operations primarily throughout Alaska and Charter’s Spectrum footprint across multiple U.S. states, sold via direct, retail, online, call center, wholesale and franchise channels as well as through government-subsidized rural build programs.
Summary from filing dated 2025-02-27
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| General and administrative, including stock-based compensation | 36 | 50 | 39 | — | — | |
| Operating income (loss) | −36 | −50 | −39 | −39 | −98 | |
| Interest expense (including amortization of deferred loan fees) | −110 | −145 | −155 | −133 | — | |
| Share of earnings (losses) of affiliate (note 6) | −3,062 | 1,323 | 1,155 | 1,326 | 1,194 | |
| Gain (loss) on dilution of investment in affiliate (note 6) | −96 | −32 | −60 | −63 | −102 | |
| Realized and unrealized gains (losses) on financial instruments, net (note 5) | 51 | −125 | −101 | 334 | 67 | |
| Other, net | −1 | 12 | 23 | −70 | −6 | |
| Earnings (loss) before income taxes | −3,254 | 983 | 823 | 1,534 | 950 | |
| Income tax benefit (expense) | 923 | −187 | −175 | −277 | −218 | |
| Net earnings (loss) from continuing operations | −2,331 | 796 | 648 | — | — | |
| Net earnings (loss) from discontinued operations | −345 | 73 | 40 | — | — | |
| Net earnings (loss) | −2,676 | 869 | 688 | 1,257 | 732 | |
| Basic net earnings (loss) from continuing operations attributable to Series A, Series B and Series C Liberty Broadband shareholders per common share (note 3) | −16.3 | 5.57 | 4.44 | — | — | |
| Basic net earnings (loss) from discontinued operations attributable to Series A, Series B and Series C Liberty Broadband shareholders per common share (note 3) | −2.41 | 0.51 | 0.27 | — | — | |
| Diluted net earnings (loss) from continuing operations attributable to Series A, Series B and Series C Liberty Broadband shareholders per common share (note 3) | −16.3 | 5.57 | 4.41 | — | — | |
| Diluted net earnings (loss) from discontinued operations attributable to Series A, Series B and Series C Liberty Broadband shareholders per common share (note 3) | −2.41 | 0.51 | 0.27 | — | — |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 57 | 89 | 79 | 375 | 191 | |
| Restricted cash and other current assets | 46 | 19 | — | — | — | |
| Current assets of discontinued operations | 0 | 315 | — | — | — | |
| Total current assets | 103 | 423 | 430 | 660 | 459 | |
| Investment in Charter, accounted for using the equity method (note 6) | 8,670 | 13,057 | — | 11,433 | 13,260 | |
| Restricted cash and other assets, net | 57 | 135 | — | — | — | |
| Non-current assets of discontinued operations | 0 | 3,072 | — | — | — | |
| Total assets | 8,830 | 16,687 | 15,641 | 15,142 | 16,968 | |
| Taxes payable | 23 | — | — | — | — | |
| Current portion of debt, including $956 and zero measured at fair value, respectively (note 7) | 956 | 3 | 3 | 1,376 | 28 | |
| Other current liabilities | 8 | 10 | 59 | 137 | 106 | |
| Current liabilities of discontinued operations | — | 190 | — | — | — | |
| Total current liabilities | 987 | 200 | 178 | 1,675 | 582 | |
| Long-term debt, net, including zero and $1,897 measured at fair value, respectively (note 7) | 790 | 2,687 | 3,733 | 2,425 | 3,733 | |
| Deferred income tax liabilities (note 8) | 1,155 | 2,028 | 2,216 | 2,040 | 1,998 | |
| Preferred stock (note 9) | 200 | 201 | 202 | 202 | 203 | |
| Non-current liabilities of discontinued operations | — | 1,763 | — | — | — | |
| Total liabilities | 3,132 | 6,879 | 6,618 | 6,641 | 6,829 | |
| Additional paid-in capital | 1,646 | 3,007 | 3,107 | 3,318 | 6,214 | |
| Accumulated other comprehensive earnings (loss), net of taxes | 15 | 73 | 52 | 9 | 14 | |
| Retained earnings | 4,036 | 6,712 | 5,843 | 5,155 | 3,898 | |
| Total stockholders' equity | 5,698 | 9,793 | 9,003 | 8,483 | 10,127 | |
| Non-controlling interests | — | 15 | 20 | 18 | 12 | |
| Total equity | 5,698 | 9,808 | 9,023 | 8,501 | 10,139 | |
| Commitments and contingencies (note 11) | — | — | — | — | — | |
| Total liabilities and equity | 8,830 | 16,687 | 15,641 | 15,142 | 16,968 |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Net earnings (loss) | −2,676 | 869 | 688 | — | — | |
| (Earnings) loss from discontinued operations | 345 | −73 | −40 | — | — | |
| Stock-based compensation | 5 | 15 | 15 | 37 | 41 | |
| Deferred income tax expense (benefit) | −851 | 180 | 155 | 54 | −15 | |
| State indemnification paid to GCI Liberty | −91 | — | — | — | — | |
| Current and other assets | 11 | 11 | −22 | 140 | 214 | |
| Payables and other liabilities | −3 | −14 | −38 | — | — | |
| Taxes payable | −174 | 4 | −25 | — | — | |
| Net cash provided by (used in) operating activities | −327 | −174 | −261 | — | — | |
| Cash received for Charter shares repurchased by Charter | 1,200 | 335 | 394 | 3,034 | 4,179 | |
| Cash released from escrow related to dispositions | — | — | 23 | — | — | |
| Purchase of investments | — | — | −53 | — | — | |
| Other investing activities, net | 7 | −12 | 2 | 6 | 2 | |
| Net cash provided by (used in) investing activities | 1,207 | 323 | 364 | — | — | |
| Borrowings of debt | 695 | 984 | 1,501 | 325 | 1,467 | |
| Repayment of debt | 1,647 | 1,094 | 1,610 | — | — | |
| Repurchases of Liberty Broadband common stock | — | −89 | −227 | −2,882 | −4,272 | |
| Indemnification payment to QVC Group | — | — | −45 | — | — | |
| Distribution from former subsidiary | — | 150 | 65 | — | — | |
| Other financing activities, net | 12 | −25 | 2 | −9 | −11 | |
| Net cash provided by (used in) financing activities | −940 | −74 | −314 | — | — | |
| Cash provided by (used in) operating activities | 247 | 278 | 277 | — | — | |
| Cash provided by (used in) investing activities | −115 | −193 | −214 | — | — | |
| Cash provided by (used in) financing activities | −206 | −107 | −76 | — | — | |
| Net cash provided by (used in) by discontinued operations | −74 | −22 | −13 | — | — | |
| Net increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents | −134 | 53 | −224 | 194 | −1,227 |
Filings
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