Goodwill and Intangible Asset Disclosure
Adjustments to Financial Statements: Removal of Goodwill
Adjusted Financial Ratios: Removal of Goodwill (Summary)
Adjusted Total Asset Turnover
Adjusted Financial Leverage
Adjusted Return on Equity (ROE)
Adjusted Return on Assets (ROA)

Charter Communications Inc., balance sheet: goodwill and intangible assets

US$ in millions

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Franchises	67,396)	67,363)	67,346)	67,322)	67,322)
Goodwill	29,668)	29,563)	29,562)	29,554)	29,554)
Wireless spectrum licenses	464)	464)	464)	464)	—)
Trademarks	159)	159)	159)	159)	159)
Indefinite-lived intangible assets	97,687)	97,549)	97,531)	97,499)	97,035)
Customer relationships	18,268)	18,250)	18,240)	18,230)	18,230)
Other intangible assets	450)	440)	430)	420)	405)
Finite-lived intangible assets, gross carrying amount	18,718)	18,690)	18,670)	18,650)	18,635)
Accumulated amortization	(16,801)	(15,714)	(14,376)	(12,774)	(10,899)
Finite-lived intangible assets, net carrying amount	1,917)	2,976)	4,294)	5,876)	7,736)
Franchises, goodwill and other intangible assets	99,604)	100,525)	101,825)	103,375)	104,771)

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

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Item	Description	The company
Goodwill	Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.	Charter Communications Inc. goodwill increased from 2021 to 2022 and from 2022 to 2023.
Franchises, goodwill and other intangible assets	Sum of the carrying amounts of all intangible assets, including goodwill, as of the balance sheet date, net of accumulated amortization and impairment charges.	Charter Communications Inc. franchises, goodwill and other intangible assets decreased from 2021 to 2022 and from 2022 to 2023.

Charter Communications Inc., adjustments to financial statements

US$ in millions

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Adjustment to Total Assets
Total assets (as reported)	147,193)	144,523)	142,491)	144,206)	148,188)
Less: Goodwill	29,668)	29,563)	29,562)	29,554)	29,554)
Total assets (adjusted)	117,525)	114,960)	112,929)	114,652)	118,634)
Adjustment to Total Charter Shareholders’ Equity
Total Charter shareholders’ equity (as reported)	11,086)	9,119)	14,050)	23,805)	31,445)
Less: Goodwill	29,668)	29,563)	29,562)	29,554)	29,554)
Total Charter shareholders’ equity (adjusted)	(18,582)	(20,444)	(15,512)	(5,749)	1,891)

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

Charter Communications Inc., Financial Data: Reported vs. Adjusted

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Charter Communications Inc., adjusted financial ratios

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Total Asset Turnover
Reported total asset turnover	0.37	0.37	0.36	0.33	0.31
Adjusted total asset turnover	0.46	0.47	0.46	0.42	0.39
Financial Leverage
Reported financial leverage	13.28	15.85	10.14	6.06	4.71
Adjusted financial leverage	—	—	—	—	62.74
Return on Equity (ROE)
Reported ROE	41.11%	55.43%	33.12%	13.53%	5.30%
Adjusted ROE	—	—	—	—	88.21%
Return on Assets (ROA)
Reported ROA	3.10%	3.50%	3.27%	2.23%	1.13%
Adjusted ROA	3.88%	4.40%	4.12%	2.81%	1.41%

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

Financial ratio	Description	The company
Adjusted total asset turnover	An activity ratio calculated as total revenue divided by adjusted total assets.	Charter Communications Inc. adjusted total asset turnover ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023.
Adjusted ROA	A profitability ratio calculated as net income divided by adjusted total assets.	Charter Communications Inc. adjusted ROA improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.

Charter Communications Inc., Financial Ratios: Reported vs. Adjusted

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	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
As Reported
Selected Financial Data (US$ in millions)
Revenues	54,607)	54,022)	51,682)	48,097)	45,764)
Total assets	147,193)	144,523)	142,491)	144,206)	148,188)
Activity Ratio
Total asset turnover¹	0.37	0.37	0.36	0.33	0.31
Adjusted for Goodwill
Selected Financial Data (US$ in millions)
Revenues	54,607)	54,022)	51,682)	48,097)	45,764)
Adjusted total assets	117,525)	114,960)	112,929)	114,652)	118,634)
Activity Ratio
Adjusted total asset turnover²	0.46	0.47	0.46	0.42	0.39

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

2023 Calculations

¹ Total asset turnover = Revenues ÷ Total assets
= 54,607 ÷ 147,193 = 0.37

² Adjusted total asset turnover = Revenues ÷ Adjusted total assets
= 54,607 ÷ 117,525 = 0.46

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Activity ratio	Description	The company
Adjusted total asset turnover	An activity ratio calculated as total revenue divided by adjusted total assets.	Charter Communications Inc. adjusted total asset turnover ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023.

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
As Reported
Selected Financial Data (US$ in millions)
Total assets	147,193)	144,523)	142,491)	144,206)	148,188)
Total Charter shareholders’ equity	11,086)	9,119)	14,050)	23,805)	31,445)
Solvency Ratio
Financial leverage¹	13.28	15.85	10.14	6.06	4.71
Adjusted for Goodwill
Selected Financial Data (US$ in millions)
Adjusted total assets	117,525)	114,960)	112,929)	114,652)	118,634)
Adjusted total Charter shareholders’ equity	(18,582)	(20,444)	(15,512)	(5,749)	1,891)
Solvency Ratio
Adjusted financial leverage²	—	—	—	—	62.74

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

2023 Calculations

¹ Financial leverage = Total assets ÷ Total Charter shareholders’ equity
= 147,193 ÷ 11,086 = 13.28

² Adjusted financial leverage = Adjusted total assets ÷ Adjusted total Charter shareholders’ equity
= 117,525 ÷ -18,582 = —

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	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
As Reported
Selected Financial Data (US$ in millions)
Net income attributable to Charter shareholders	4,557)	5,055)	4,654)	3,222)	1,668)
Total Charter shareholders’ equity	11,086)	9,119)	14,050)	23,805)	31,445)
Profitability Ratio
ROE¹	41.11%	55.43%	33.12%	13.53%	5.30%
Adjusted for Goodwill
Selected Financial Data (US$ in millions)
Net income attributable to Charter shareholders	4,557)	5,055)	4,654)	3,222)	1,668)
Adjusted total Charter shareholders’ equity	(18,582)	(20,444)	(15,512)	(5,749)	1,891)
Profitability Ratio
Adjusted ROE²	—	—	—	—	88.21%

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

2023 Calculations

¹ ROE = 100 × Net income attributable to Charter shareholders ÷ Total Charter shareholders’ equity
= 100 × 4,557 ÷ 11,086 = 41.11%

² Adjusted ROE = 100 × Net income attributable to Charter shareholders ÷ Adjusted total Charter shareholders’ equity
= 100 × 4,557 ÷ -18,582 = —

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	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
As Reported
Selected Financial Data (US$ in millions)
Net income attributable to Charter shareholders	4,557)	5,055)	4,654)	3,222)	1,668)
Total assets	147,193)	144,523)	142,491)	144,206)	148,188)
Profitability Ratio
ROA¹	3.10%	3.50%	3.27%	2.23%	1.13%
Adjusted for Goodwill
Selected Financial Data (US$ in millions)
Net income attributable to Charter shareholders	4,557)	5,055)	4,654)	3,222)	1,668)
Adjusted total assets	117,525)	114,960)	112,929)	114,652)	118,634)
Profitability Ratio
Adjusted ROA²	3.88%	4.40%	4.12%	2.81%	1.41%

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

2023 Calculations

¹ ROA = 100 × Net income attributable to Charter shareholders ÷ Total assets
= 100 × 4,557 ÷ 147,193 = 3.10%

² Adjusted ROA = 100 × Net income attributable to Charter shareholders ÷ Adjusted total assets
= 100 × 4,557 ÷ 117,525 = 3.88%

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Profitability ratio	Description	The company
Adjusted ROA	A profitability ratio calculated as net income divided by adjusted total assets.	Charter Communications Inc. adjusted ROA improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023.

Charter Communications Inc. (NASDAQ:CHTR)

Analysis of Goodwill and Intangible Assets

Goodwill and Intangible Asset Disclosure

Adjustments to Financial Statements: Removal of Goodwill

Charter Communications Inc., Financial Data: Reported vs. Adjusted

Adjusted Financial Ratios: Removal of Goodwill (Summary)

Charter Communications Inc., Financial Ratios: Reported vs. Adjusted

Adjusted Total Asset Turnover

Adjusted Financial Leverage

Adjusted Return on Equity (ROE)

Adjusted Return on Assets (ROA)