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10-Q Filing

LIBERTY BROADBAND CORP CIK: 1611983 Q1 2021
Filing Information
Form Type 10-Q
Accession Number 0001558370-21-006448
Period End Date 20210331
Filing Date 20210507
Fiscal Year 2021
Fiscal Period Q1
XBRL Instance lbrda-20210331x10q_htm.xml
Balance Sheet 71 line items
Line Item Tag Value Unit Period
Allowance for Doubtful Accounts Receivable AllowanceForDoubtfulAccountsReceivable $10.00K USD Point-in-time
Allowance for Doubtful Accounts Receivable AllowanceForDoubtfulAccountsReceivable $537.00K USD Point-in-time
Short-term debt, measured at fair value ShorttermDebtFairValue $24.74M USD Point-in-time
Short-term debt, measured at fair value ShorttermDebtFairValue $26.35M USD Point-in-time
Long-term debt, measured at fair value LongTermDebtFairValue $1.45B USD Point-in-time
Long-term debt, measured at fair value LongTermDebtFairValue $1.40B USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $1.18B USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $1.42B USD Point-in-time
Trade and other receivables, net of allowance for doubtful accounts of $537 and $10, respectively AccountsAndOtherReceivablesNetCurrent $201.23M USD Point-in-time
Trade and other receivables, net of allowance for doubtful accounts of $537 and $10, respectively AccountsAndOtherReceivablesNetCurrent $349.26M USD Point-in-time
Other current assets OtherAssetsCurrent $79.45M USD Point-in-time
Other current assets OtherAssetsCurrent $82.95M USD Point-in-time
Total current assets AssetsCurrent $1.46B USD Point-in-time
Total current assets AssetsCurrent $1.85B USD Point-in-time
Investment in Charter, accounted for using the equity method (note 5) EquityMethodInvestments $15.74B USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization $1.10B USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization $1.07B USD Point-in-time
Goodwill Goodwill $764.69M USD Point-in-time
Goodwill Goodwill $745.58M USD Point-in-time
Intangible assets subject to amortization, net (note 6) FiniteLivedIntangibleAssetsNet $674.05M USD Point-in-time
Intangible assets subject to amortization, net (note 6) FiniteLivedIntangibleAssetsNet $624.96M USD Point-in-time
Tax sharing receivable TaxSharingReceivableNoncurrent $94.55M USD Point-in-time
Tax sharing receivable TaxSharingReceivableNoncurrent $86.26M USD Point-in-time
Other assets, net OtherAssetsNoncurrent $160.47M USD Point-in-time
Other assets, net OtherAssetsNoncurrent $151.49M USD Point-in-time
Total assets Assets $20.49B USD Point-in-time
Total assets Assets $21.37B USD Point-in-time
Accounts payable and accrued liabilities AccountsPayableAndAccruedLiabilitiesCurrent $198.04M USD Point-in-time
Accounts payable and accrued liabilities AccountsPayableAndAccruedLiabilitiesCurrent $97.93M USD Point-in-time
Deferred revenue ContractWithCustomerLiabilityCurrent $22.24M USD Point-in-time
Deferred revenue ContractWithCustomerLiabilityCurrent $24.93M USD Point-in-time
Current portion of debt, including $24,741 and $26,350 measured at fair value, respectively (note 7) DebtCurrent $31.03M USD Point-in-time
Current portion of debt, including $24,741 and $26,350 measured at fair value, respectively (note 7) DebtCurrent $29.43M USD Point-in-time
Indemnification obligation (note 4) IndemnificationObligationCurrent $344.64M USD Point-in-time
Indemnification obligation (note 4) IndemnificationObligationCurrent $292.87M USD Point-in-time
Other current liabilities OtherLiabilitiesCurrent $113.23M USD Point-in-time
Other current liabilities OtherLiabilitiesCurrent $133.50M USD Point-in-time
Total current liabilities LiabilitiesCurrent $676.09M USD Point-in-time
Total current liabilities LiabilitiesCurrent $611.76M USD Point-in-time
Long-term debt, net, including $1,399,600 and $1,445,775 measured at fair value, respectively (note 7) LongTermDebtNoncurrent $4.79B USD Point-in-time
Long-term debt, net, including $1,399,600 and $1,445,775 measured at fair value, respectively (note 7) LongTermDebtNoncurrent $4.56B USD Point-in-time
Obligations under finance leases and tower obligations, excluding current portion FinanceLeaseAndTowerObligationNoncurrent $91.52M USD Point-in-time
Obligations under finance leases and tower obligations, excluding current portion FinanceLeaseAndTowerObligationNoncurrent $92.84M USD Point-in-time
Long-term deferred revenue ContractWithCustomerLiabilityNoncurrent $39.65M USD Point-in-time
Long-term deferred revenue ContractWithCustomerLiabilityNoncurrent $38.28M USD Point-in-time
Deferred income tax liabilities DeferredIncomeTaxLiabilitiesNet $1.98B USD Point-in-time
Deferred income tax liabilities DeferredIncomeTaxLiabilitiesNet $1.97B USD Point-in-time
Preferred stock (note 8) SharesSubjectToMandatoryRedemptionSettlementTermsAmountNoncurrent $202.92M USD Point-in-time
Preferred stock (note 8) SharesSubjectToMandatoryRedemptionSettlementTermsAmountNoncurrent $202.79M USD Point-in-time
Other liabilities OtherLiabilitiesNoncurrent $140.91M USD Point-in-time
Other liabilities OtherLiabilitiesNoncurrent $146.69M USD Point-in-time
Total liabilities Liabilities $7.86B USD Point-in-time
Total liabilities Liabilities $7.68B USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $9.56B USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $10.32B USD Point-in-time
Accumulated other comprehensive earnings, net of taxes AccumulatedOtherComprehensiveIncomeLossNetOfTax $15.44M USD Point-in-time
Accumulated other comprehensive earnings, net of taxes AccumulatedOtherComprehensiveIncomeLossNetOfTax $15.60M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $3.17B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $3.22B USD Point-in-time
Total stockholders' equity StockholdersEquity $13.50B USD Point-in-time
Total stockholders' equity StockholdersEquity $12.80B USD Point-in-time
Non-controlling interests MinorityInterest $11.76M USD Point-in-time
Non-controlling interests MinorityInterest $11.72M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $12.81B USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $10.65B USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $10.67B USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $13.51B USD Point-in-time
Commitments and contingencies (note 10) CommitmentsAndContingencies - USD Point-in-time
Commitments and contingencies (note 10) CommitmentsAndContingencies - USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $21.37B USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $20.49B USD Point-in-time
Income Statement 35 line items
Line Item Tag Value Unit Period
Revenue RevenueFromContractWithCustomerExcludingAssessedTax $4.10M USD 1 Quarter
Revenue RevenueFromContractWithCustomerExcludingAssessedTax $246.53M USD 1 Quarter
Operating, including stock-based compensation (note 9) OtherCostAndExpenseOperating $69.18M USD 1 Quarter
Operating, including stock-based compensation (note 9) OtherCostAndExpenseOperating $2.47M USD 1 Quarter
Selling, general and administrative, including stock-based compensation and transaction costs (note 9) SellingGeneralAndAdministrativeExpense $8.42M USD 1 Quarter
Selling, general and administrative, including stock-based compensation and transaction costs (note 9) SellingGeneralAndAdministrativeExpense $104.47M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $63.76M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $493.00K USD 1 Quarter
Litigation settlement LitigationSettlementExpense $110.00M USD 1 Quarter
Total operating costs and expenses CostsAndExpenses $11.38M USD 1 Quarter
Total operating costs and expenses CostsAndExpenses $347.41M USD 1 Quarter
Operating income (loss) OperatingIncomeLoss $-100.88M USD 1 Quarter
Operating income (loss) OperatingIncomeLoss $-7.28M USD 1 Quarter
Interest expense (including amortization of deferred loan fees) InterestExpense $33.14M USD 1 Quarter
Interest expense (including amortization of deferred loan fees) InterestExpense $5.86M USD 1 Quarter
Share of earnings (losses) of affiliates (note 5) IncomeLossFromEquityMethodInvestments $188.98M USD 1 Quarter
Share of earnings (losses) of affiliates (note 5) IncomeLossFromEquityMethodInvestments $61.68M USD 1 Quarter
Gain (loss) on dilution of investment in affiliate (note 5) GainLossOnSaleOfPreviouslyUnissuedStockBySubsidiaryOrEquityInvesteeNonoperatingIncome $-59.33M USD 1 Quarter
Gain (loss) on dilution of investment in affiliate (note 5) GainLossOnSaleOfPreviouslyUnissuedStockBySubsidiaryOrEquityInvesteeNonoperatingIncome $-82.22M USD 1 Quarter
Realized and unrealized gains (losses) on financial instruments, net (note 4) GainLossOnInvestments $99.35M USD 1 Quarter
Other, net OtherNonoperatingIncomeExpense $-8.13M USD 1 Quarter
Other, net OtherNonoperatingIncomeExpense $163.00K USD 1 Quarter
Earnings (loss) before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $-10.62M USD 1 Quarter
Earnings (loss) before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $63.96M USD 1 Quarter
Income tax (expense) benefit IncomeTaxExpenseBenefit $-2.77M USD 1 Quarter
Income tax (expense) benefit IncomeTaxExpenseBenefit $11.79M USD 1 Quarter
Net earnings (loss) ProfitLoss $-7.84M USD 1 Quarter
Net earnings (loss) ProfitLoss $52.18M USD 1 Quarter
Less net earnings (loss) attributable to the non-controlling interests NetIncomeLossAttributableToNoncontrollingInterest $-41.00K USD 1 Quarter
Net earnings (loss) attributable to Liberty Broadband shareholders NetIncomeLoss $-7.84M USD 1 Quarter
Net earnings (loss) attributable to Liberty Broadband shareholders NetIncomeLoss $52.22M USD 1 Quarter
Basic net earnings (loss) attributable to Series A, Series B and Series C Liberty Broadband shareholders per common share (note 2) EarningsPerShareBasic $-0.04 USD 1 Quarter
Basic net earnings (loss) attributable to Series A, Series B and Series C Liberty Broadband shareholders per common share (note 2) EarningsPerShareBasic $0.27 USD 1 Quarter
Diluted net earnings (loss) attributable to Series A, Series B and Series C Liberty Broadband shareholders per common share (note 2) EarningsPerShareDiluted $-0.04 USD 1 Quarter
Diluted net earnings (loss) attributable to Series A, Series B and Series C Liberty Broadband shareholders per common share (note 2) EarningsPerShareDiluted $0.27 USD 1 Quarter
Cash Flow Statement 53 line items
Line Item Tag Value Unit Period
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $1.18B USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $1.42B USD Point-in-time
Net earnings (loss) ProfitLoss $-7.84M USD 1 Quarter
Net earnings (loss) ProfitLoss $52.18M USD 1 Quarter
Restricted cash included in other current assets RestrictedCashAndCashEquivalents $15.49M USD Point-in-time
Restricted cash included in other current assets RestrictedCashAndCashEquivalents $15.56M USD Point-in-time
Total cash and cash equivalents and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $18.36M USD Point-in-time
Depreciation and amortization DepreciationDepletionAndAmortization $63.76M USD 1 Quarter
Total cash and cash equivalents and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $1.19B USD Point-in-time
Total cash and cash equivalents and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $1.43B USD Point-in-time
Total cash and cash equivalents and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $49.72M USD Point-in-time
Depreciation and amortization DepreciationDepletionAndAmortization $493.00K USD 1 Quarter
Stock-based compensation ShareBasedCompensation $1.80M USD 1 Quarter
Stock-based compensation ShareBasedCompensation $9.87M USD 1 Quarter
Litigation settlement LitigationSettlementExpense $110.00M USD 1 Quarter
Share of (earnings) losses of affiliate, net IncomeLossFromEquityMethodInvestments $188.98M USD 1 Quarter
Share of (earnings) losses of affiliate, net IncomeLossFromEquityMethodInvestments $61.68M USD 1 Quarter
(Gain) loss on dilution of investment in affiliate GainLossOnSaleOfPreviouslyUnissuedStockBySubsidiaryOrEquityInvesteeNonoperatingIncome $-82.22M USD 1 Quarter
(Gain) loss on dilution of investment in affiliate GainLossOnSaleOfPreviouslyUnissuedStockBySubsidiaryOrEquityInvesteeNonoperatingIncome $-59.33M USD 1 Quarter
Realized and unrealized (gains) losses on financial instruments, net GainLossOnInvestments $99.35M USD 1 Quarter
Deferred income tax expense (benefit) DeferredIncomeTaxExpenseBenefit $10.67M USD 1 Quarter
Deferred income tax expense (benefit) DeferredIncomeTaxExpenseBenefit $-2.77M USD 1 Quarter
Other, net OtherNoncashIncomeExpense $-436.00K USD 1 Quarter
Other, net OtherNoncashIncomeExpense $739.00K USD 1 Quarter
Current and other assets IncreaseDecreaseInOperatingAssets $-164.64M USD 1 Quarter
Current and other assets IncreaseDecreaseInOperatingAssets $192.00K USD 1 Quarter
Payables and other liabilities IncreaseDecreaseInOperatingLiabilities $-4.07M USD 1 Quarter
Payables and other liabilities IncreaseDecreaseInOperatingLiabilities $-11.30M USD 1 Quarter
Net cash provided by (used in) operating activities NetCashProvidedByUsedInOperatingActivities $192.96M USD 1 Quarter
Net cash provided by (used in) operating activities NetCashProvidedByUsedInOperatingActivities $-14.50M USD 1 Quarter
Capital expended for property and equipment PaymentsToAcquirePropertyPlantAndEquipment $15.00K USD 1 Quarter
Capital expended for property and equipment PaymentsToAcquirePropertyPlantAndEquipment $28.62M USD 1 Quarter
Exercise of preemptive right to purchase Charter shares PaymentsToAcquireEquityMethodInvestments $14.91M USD 1 Quarter
Cash received for Charter shares repurchased by Charter ProceedsFromSaleAndMaturityOfMarketableSecurities $518.40M USD 1 Quarter
Other investing activities, net PaymentsForProceedsFromOtherInvestingActivities $-141.00K USD 1 Quarter
Net cash provided by (used in) investing activities NetCashProvidedByUsedInInvestingActivities $489.93M USD 1 Quarter
Net cash provided by (used in) investing activities NetCashProvidedByUsedInInvestingActivities $-14.93M USD 1 Quarter
Repayments of debt, finance leases and tower obligations RepaymentOfDebtFinanceLeaseObligationAndSaleLeaseBackObligation $182.57M USD 1 Quarter
Repurchases of Liberty Broadband common stock PaymentsForRepurchaseOfCommonStock $738.41M USD 1 Quarter
Other financing activities, net ProceedsFromPaymentsForOtherFinancingActivities $-1.94M USD 1 Quarter
Other financing activities, net ProceedsFromPaymentsForOtherFinancingActivities $-2.48M USD 1 Quarter
Net cash provided by (used in) financing activities NetCashProvidedByUsedInFinancingActivities $-1.94M USD 1 Quarter
Net cash provided by (used in) financing activities NetCashProvidedByUsedInFinancingActivities $-923.46M USD 1 Quarter
Net increase (decrease) in cash, cash equivalents and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect $-240.57M USD 1 Quarter
Net increase (decrease) in cash, cash equivalents and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect $-31.37M USD 1 Quarter
Cash, cash equivalents and restricted cash, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $18.36M USD Point-in-time
Cash, cash equivalents and restricted cash, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $1.19B USD Point-in-time
Cash, cash equivalents and restricted cash, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $1.43B USD Point-in-time
Cash, cash equivalents and restricted cash, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $49.72M USD Point-in-time
Cash, cash equivalents and restricted cash, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $1.43B USD Point-in-time
Cash, cash equivalents and restricted cash, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $18.36M USD Point-in-time
Cash, cash equivalents and restricted cash, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $1.19B USD Point-in-time
Cash, cash equivalents and restricted cash, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $49.72M USD Point-in-time
Stockholders Equity 20 line items
Line Item Tag Value Unit Period
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $12.81B USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $10.65B USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $10.67B USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $13.51B USD Point-in-time
Net earnings (loss) ProfitLoss $-7.84M USD 1 Quarter
Net earnings (loss) ProfitLoss $52.18M USD 1 Quarter
Other comprehensive loss OtherComprehensiveIncomeLossNetOfTax $161.00K USD 1 Quarter
Stock-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $9.86M USD 1 Quarter
Stock-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $1.80M USD 1 Quarter
Issuance of common stock upon exercise of stock options StockIssuedDuringPeriodValueStockOptionsExercised $4.00K USD 1 Quarter
Issuance of common stock upon exercise of stock options StockIssuedDuringPeriodValueStockOptionsExercised $151.00K USD 1 Quarter
Withholding taxes on net share settlements of stock-based compensation AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation $1.94M USD 1 Quarter
Withholding taxes on net share settlements of stock-based compensation AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation $2.63M USD 1 Quarter
Series C Liberty Broadband stock repurchases StockRepurchasedDuringPeriodValue $738.41M USD 1 Quarter
Noncontrolling interest activity at Charter and other NoncontrollingInterestActivityInSubsidiary $-13.00M USD 1 Quarter
Noncontrolling interest activity at Charter and other NoncontrollingInterestActivityInSubsidiary $-25.50M USD 1 Quarter
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $12.81B USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $10.65B USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $10.67B USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $13.51B USD Point-in-time
Comprehensive Income 9 line items
Line Item Tag Value Unit Period
Net earnings (loss) ProfitLoss $-7.84M USD 1 Quarter
Net earnings (loss) ProfitLoss $52.18M USD 1 Quarter
Comprehensive earnings (loss) attributable to debt credit risk adjustments OtherComprehensiveIncomeLossAttributableToDebtCreditRiskAdjustments $161.00K USD 1 Quarter
Other comprehensive earnings (loss), net of taxes OtherComprehensiveIncomeLossNetOfTax $161.00K USD 1 Quarter
Comprehensive earnings (loss) ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $52.34M USD 1 Quarter
Comprehensive earnings (loss) ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $-7.84M USD 1 Quarter
Less comprehensive earnings (loss) attributable to the non-controlling interests ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $-41.00K USD 1 Quarter
Comprehensive earnings (loss) attributable to Liberty Broadband shareholders ComprehensiveIncomeNetOfTax $52.38M USD 1 Quarter
Comprehensive earnings (loss) attributable to Liberty Broadband shareholders ComprehensiveIncomeNetOfTax $-7.84M USD 1 Quarter

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

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