10-Q Filing

CHARTER COMMUNICATIONS, INC. /MO/ CIK: 1091667 Q1 2022

Filing Information

Form Type	10-Q
Accession Number	`0001091667-22-000066`
Period End Date	20220331
Filing Date	20220429
Fiscal Year	2022
Fiscal Period	Q1
XBRL Instance	chtr-20220331_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 68 Income Statement 36 Cash Flow Statement 60 Stockholders Equity 22

Balance Sheet 68 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$161.00M	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$157.00M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.43B	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$601.00M	USD	Point-in-time
Property, plant and equipment, accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$34.25B	USD	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $161 and $157, respectively	`AccountsReceivableNetCurrent`	$2.53B	USD	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $161 and $157, respectively	`AccountsReceivableNetCurrent`	$2.58B	USD	Point-in-time
Property, plant and equipment, accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$34.90B	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$386.00M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$555.00M	USD	Point-in-time
Customer relationships, accumulated amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$14.18B	USD	Point-in-time
Customer relationships, accumulated amortization	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$14.54B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$3.57B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$5.52B	USD	Point-in-time
Property, plant and equipment, net of accumulated depreciation of $34,897 and $34,253, respectively	`PropertyPlantAndEquipmentNet`	$34.17B	USD	Point-in-time
Property, plant and equipment, net of accumulated depreciation of $34,897 and $34,253, respectively	`PropertyPlantAndEquipmentNet`	$34.31B	USD	Point-in-time
Customer relationships, net of accumulated amortization of $14,542 and $14,180, respectively	`CustomerRelationshipsNet`	$3.70B	USD	Point-in-time
Customer relationships, net of accumulated amortization of $14,542 and $14,180, respectively	`CustomerRelationshipsNet`	$4.06B	USD	Point-in-time
Franchises	`IndefiniteLivedFranchiseRights`	$67.35B	USD	Point-in-time
Franchises	`IndefiniteLivedFranchiseRights`	$67.35B	USD	Point-in-time
Goodwill	`Goodwill`	$29.56B	USD	Point-in-time
Goodwill	`Goodwill`	$29.56B	USD	Point-in-time
Total investment in cable properties, net	`TotalInvestmentInCablePropertiesNet`	$135.28B	USD	Point-in-time
Total investment in cable properties, net	`TotalInvestmentInCablePropertiesNet`	$134.78B	USD	Point-in-time
OTHER NONCURRENT ASSETS	`OtherAssetsNoncurrent`	$3.65B	USD	Point-in-time
OTHER NONCURRENT ASSETS	`OtherAssetsNoncurrent`	$3.65B	USD	Point-in-time
Total assets	`Assets`	$142.49B	USD	Point-in-time
Total assets	`Assets`	$143.95B	USD	Point-in-time
Preferred stock, par value (dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$9.46B	USD	Point-in-time
Preferred stock, par value (dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$9.39B	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$4.54B	USD	Point-in-time
Preferred stock, shares authorized (shares)	`PreferredStockSharesAuthorized`	250.00M	shares	Point-in-time
Preferred stock, shares authorized (shares)	`PreferredStockSharesAuthorized`	250.00M	shares	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$3.00B	USD	Point-in-time
Preferred stock, shares issued (shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$12.46B	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$13.93B	USD	Point-in-time
Preferred stock, shares issued (shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares outstanding (shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
LONG-TERM DEBT	`LongTermDebtNoncurrent`	$88.56B	USD	Point-in-time
Preferred stock, shares outstanding (shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
LONG-TERM DEBT	`LongTermDebtNoncurrent`	$90.68B	USD	Point-in-time
Treasury stock, shares (shares)	`TreasuryStockShares`	0.00	shares	Point-in-time
Treasury stock, shares (shares)	`TreasuryStockShares`	5.74M	shares	Point-in-time
DEFERRED INCOME TAXES	`DeferredIncomeTaxLiabilitiesNet`	$19.10B	USD	Point-in-time
DEFERRED INCOME TAXES	`DeferredIncomeTaxLiabilitiesNet`	$19.07B	USD	Point-in-time
OTHER LONG-TERM LIABILITIES	`OtherLiabilitiesNoncurrent`	$4.22B	USD	Point-in-time
OTHER LONG-TERM LIABILITIES	`OtherLiabilitiesNoncurrent`	$4.33B	USD	Point-in-time
Preferred stock; $0.001 par value; 250 million shares authorized; no shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock; $0.001 par value; 250 million shares authorized; no shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$26.86B	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$26.73B	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-11.47B	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-12.68B	USD	Point-in-time
Treasury stock at cost; 5,739,096 and no shares, respectively	`TreasuryStockValue`	$3.33B	USD	Point-in-time
Treasury stock at cost; 5,739,096 and no shares, respectively	`TreasuryStockValue`	-	USD	Point-in-time
Total Charter shareholders equity	`StockholdersEquity`	$12.06B	USD	Point-in-time
Total Charter shareholders equity	`StockholdersEquity`	$14.05B	USD	Point-in-time
Noncontrolling interests	`MinorityInterest`	$3.88B	USD	Point-in-time
Noncontrolling interests	`MinorityInterest`	$4.11B	USD	Point-in-time
Total shareholders equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$27.18B	USD	Point-in-time
Total shareholders equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$18.16B	USD	Point-in-time
Total shareholders equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$15.94B	USD	Point-in-time
Total shareholders equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$30.28B	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$142.49B	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$143.95B	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
REVENUES	`Revenues`	$12.52B	USD	1 Quarter
REVENUES	`Revenues`	$13.20B	USD	1 Quarter
Operating costs and expenses (exclusive of items shown separately below)	`OperatingExpenses`	$8.13B	USD	1 Quarter
Operating costs and expenses (exclusive of items shown separately below)	`OperatingExpenses`	$7.71B	USD	1 Quarter
Depreciation and amortization	`DepreciationAmortizationAndAccretionNet`	$2.44B	USD	1 Quarter
Depreciation and amortization	`DepreciationAmortizationAndAccretionNet`	$2.29B	USD	1 Quarter
Other operating expenses, net	`OtherOperatingIncomeExpenseNet`	$-1.00M	USD	1 Quarter
Other operating expenses, net	`OtherOperatingIncomeExpenseNet`	$-302.00M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$10.45B	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$10.43B	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$2.07B	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$2.77B	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-983.00M	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-1.06B	USD	1 Quarter
Other income, net	`NonoperatingIncomeExpense`	$52.00M	USD	1 Quarter
Other income, net	`NonoperatingIncomeExpense`	$23.00M	USD	1 Quarter
Total other income (expenses), net	`TotalNonoperatingIncomeExpenseIncludingInterestExpenseNet`	$-931.00M	USD	1 Quarter
Total other income (expenses), net	`TotalNonoperatingIncomeExpenseIncludingInterestExpenseNet`	$-1.04B	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.73B	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.14B	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$216.00M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$345.00M	USD	1 Quarter
Consolidated net income	`ProfitLoss`	$921.00M	USD	1 Quarter
Consolidated net income	`ProfitLoss`	$1.39B	USD	1 Quarter
Less: Net income attributable to noncontrolling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$114.00M	USD	1 Quarter
Less: Net income attributable to noncontrolling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$186.00M	USD	1 Quarter
Net income attributable to Charter shareholders	`NetIncomeLoss`	$1.20B	USD	1 Quarter
Net income attributable to Charter shareholders	`NetIncomeLoss`	$807.00M	USD	1 Quarter
Basic (dollars per share)	`EarningsPerShareBasic`	$7.05	USD	1 Quarter
Basic (dollars per share)	`EarningsPerShareBasic`	$4.22	USD	1 Quarter
Diluted (dollars per share)	`EarningsPerShareDiluted`	$6.90	USD	1 Quarter
Diluted (dollars per share)	`EarningsPerShareDiluted`	$4.11	USD	1 Quarter
Weighted average common shares outstanding, basic (shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	191.40M	shares	1 Quarter
Weighted average common shares outstanding, basic (shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	170.69M	shares	1 Quarter
Weighted average common shares outstanding, diluted (shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	205.87M	shares	1 Quarter
Weighted average common shares outstanding, diluted (shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	174.50M	shares	1 Quarter

Cash Flow Statement 60 line items

Line Item	Tag	Value	Unit	Period
Consolidated net income	`ProfitLoss`	$921.00M	USD	1 Quarter
Consolidated net income	`ProfitLoss`	$1.39B	USD	1 Quarter
Depreciation and amortization	`DepreciationAmortizationAndAccretionNet`	$2.44B	USD	1 Quarter
Depreciation and amortization	`DepreciationAmortizationAndAccretionNet`	$2.29B	USD	1 Quarter
Stock compensation expense	`ShareBasedCompensation`	$147.00M	USD	1 Quarter
Stock compensation expense	`ShareBasedCompensation`	$134.00M	USD	1 Quarter
Noncash interest income, net	`AmortizationOfDebtDiscountPremium`	$-7.00M	USD	1 Quarter
Noncash interest income, net	`AmortizationOfDebtDiscountPremium`	$-3.00M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$156.00M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$38.00M	USD	1 Quarter
Other, net	`OtherNoncashIncomeExpense`	$21.00M	USD	1 Quarter
Other, net	`OtherNoncashIncomeExpense`	$5.00M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-49.00M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-144.00M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$182.00M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$185.00M	USD	1 Quarter
Accounts payable, accrued liabilities and other	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-61.00M	USD	1 Quarter
Accounts payable, accrued liabilities and other	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$149.00M	USD	1 Quarter
Net cash flows from operating activities	`NetCashProvidedByUsedInOperatingActivities`	$3.65B	USD	1 Quarter
Net cash flows from operating activities	`NetCashProvidedByUsedInOperatingActivities`	$3.75B	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.86B	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.82B	USD	1 Quarter
Change in accrued expenses related to capital expenditures	`ChangesInAccruedExpensesRelatedToCapitalExpenditures`	$75.00M	USD	1 Quarter
Change in accrued expenses related to capital expenditures	`ChangesInAccruedExpensesRelatedToCapitalExpenditures`	$-10.00M	USD	1 Quarter
Other, net	`PaymentsForProceedsFromOtherInvestingActivities`	$60.00M	USD	1 Quarter
Other, net	`PaymentsForProceedsFromOtherInvestingActivities`	$-60.00M	USD	1 Quarter
Net cash flows from investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.96B	USD	1 Quarter
Net cash flows from investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.79B	USD	1 Quarter
Borrowings of long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$6.71B	USD	1 Quarter
Borrowings of long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$5.29B	USD	1 Quarter
Repayments of long-term debt	`RepaymentsOfLongTermDebt`	$3.16B	USD	1 Quarter
Repayments of long-term debt	`RepaymentsOfLongTermDebt`	$2.95B	USD	1 Quarter
Payments for debt issuance costs	`PaymentsOfDebtIssuanceCosts`	$37.00M	USD	1 Quarter
Payments for debt issuance costs	`PaymentsOfDebtIssuanceCosts`	$22.00M	USD	1 Quarter
Purchase of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$3.65B	USD	1 Quarter
Purchase of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$3.33B	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$9.00M	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$1.00M	USD	1 Quarter
Purchase of noncontrolling interest	`PaymentsForRepurchaseOfRedeemableNoncontrollingInterest`	$507.00M	USD	1 Quarter
Purchase of noncontrolling interest	`PaymentsForRepurchaseOfRedeemableNoncontrollingInterest`	$416.00M	USD	1 Quarter
Distributions to noncontrolling interest	`PaymentsOfDividendsMinorityInterest`	$39.00M	USD	1 Quarter
Distributions to noncontrolling interest	`PaymentsOfDividendsMinorityInterest`	$2.00M	USD	1 Quarter
Other, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$62.00M	USD	1 Quarter
Other, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$-2.00M	USD	1 Quarter
Net cash flows from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-2.02B	USD	1 Quarter
Net cash flows from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-30.00M	USD	1 Quarter
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-229.00M	USD	1 Quarter
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$1.83B	USD	1 Quarter
CASH AND CASH EQUIVALENTS, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.00B	USD	Point-in-time
CASH AND CASH EQUIVALENTS, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.43B	USD	Point-in-time
CASH AND CASH EQUIVALENTS, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$772.00M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$601.00M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.00B	USD	Point-in-time
CASH AND CASH EQUIVALENTS, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.43B	USD	Point-in-time
CASH AND CASH EQUIVALENTS, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$772.00M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$601.00M	USD	Point-in-time
CASH PAID FOR INTEREST	`InterestPaidNet`	$1.02B	USD	1 Quarter
CASH PAID FOR INTEREST	`InterestPaidNet`	$982.00M	USD	1 Quarter
CASH PAID FOR TAXES	`IncomeTaxesPaid`	$20.00M	USD	1 Quarter
CASH PAID FOR TAXES	`IncomeTaxesPaid`	$29.00M	USD	1 Quarter

Stockholders Equity 22 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$27.18B	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$18.16B	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$15.94B	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$30.28B	USD	Point-in-time
Consolidated net income	`ProfitLoss`	$921.00M	USD	1 Quarter
Consolidated net income	`ProfitLoss`	$1.39B	USD	1 Quarter
Stock compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$134.00M	USD	1 Quarter
Stock compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$147.00M	USD	1 Quarter
Exercise of stock options	`StockIssuedDuringPeriodValueShareBasedCompensation`	$1.00M	USD	1 Quarter
Exercise of stock options	`StockIssuedDuringPeriodValueShareBasedCompensation`	$9.00M	USD	1 Quarter
Purchases of treasury stock	`TreasuryStockValueAcquiredCostMethod`	$3.65B	USD	1 Quarter
Purchases of treasury stock	`TreasuryStockValueAcquiredCostMethod`	$3.33B	USD	1 Quarter
Purchase of noncontrolling interest, net of tax	`MinorityInterestDecreaseFromRedemptions`	$353.00M	USD	1 Quarter
Purchase of noncontrolling interest, net of tax	`MinorityInterestDecreaseFromRedemptions`	$429.00M	USD	1 Quarter
Change in noncontrolling interest ownership, net of tax	`NoncontrollingInterestIncreaseDecreaseFromChangesInSubsidiaryOwnership`	$-61.00M	USD	1 Quarter
Change in noncontrolling interest ownership, net of tax	`NoncontrollingInterestIncreaseDecreaseFromChangesInSubsidiaryOwnership`	$-44.00M	USD	1 Quarter
Distributions to noncontrolling interest	`MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders`	$39.00M	USD	1 Quarter
Distributions to noncontrolling interest	`MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders`	$2.00M	USD	1 Quarter
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$27.18B	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$18.16B	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$15.94B	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$30.28B	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.