Income Statement
The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.
Based on: 10-K (reporting date: 2024-12-31), 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).
The financial data reveals several notable trends and patterns over the five-year period.
- Revenues
- Revenues increased steadily from US$48,097 million in 2020 to US$55,085 million in 2024, indicating consistent growth in the company's top line.
- Costs of Revenue
- Programming costs showed a general decline from -US$11,401 million in 2020 to -US$9,653 million in 2024, suggesting improved cost management or favorable contract terms. Other costs of revenue increased from -US$3,948 million in 2020 to -US$6,351 million in 2024, indicating rising expenditures in areas aside from programming.
- Field and Technology Operations, Customer Operations, and Costs to Service Customers
- Data for field and technology operations and customer operations are only available from 2022 onward, both remaining relatively stable with minor fluctuations over the period. Costs to service customers are reported only for 2020 and 2021, showing minimal change between these years.
- Sales and Marketing
- Sales and marketing expenses steadily increased from -US$3,031 million in 2020 to -US$3,714 million in 2024, reflecting sustained investment in market presence and customer acquisition.
- Stock Compensation Expense
- Stock compensation expense appeared from 2022 onwards, peaking at -US$692 million in 2023 before slightly decreasing to -US$651 million in 2024.
- Other Operating Costs
- Other operating expenses rose gradually from -US$4,078 million in 2020 to -US$4,494 million in 2024, showing a steady increase in miscellaneous operational outlays.
- Total Operating Costs and Expenses
- Operating costs and expenses climbed consistently from -US$29,930 million in 2020 to a peak of -US$33,405 million in 2023, followed by a slight reduction to -US$33,167 million in 2024.
- Gross Profit
- Gross profit showed a consistent upward trend, growing from US$18,167 million in 2020 to US$21,918 million in 2024, aligning with revenue growth and more efficient cost management.
- Depreciation and Amortization
- Depreciation and amortization expenses decreased steadily from -US$9,704 million in 2020 to -US$8,673 million in 2024, reflecting possible shifts in asset base or capitalization policies.
- Special Charges, Net
- Special charges remained relatively modest but showed a declining trend from -US$90 million in 2020 to -US$139 million in 2024 following a higher peak in previous years.
- Gain (Loss) on Disposal of Assets and Other Operating Income (Expense)
- Gains/losses on asset disposals fluctuated over the period, with a notable gain of US$251 million in 2023. Other operating income/expense exhibited volatility, turning positive briefly in 2023 before reverting to a negative position in 2024.
- Income from Operations
- Operating income consistently increased from US$8,405 million in 2020 to US$13,118 million in 2024, demonstrating improved operational profitability.
- Interest Expense, Net
- Interest expense increased steadily, from -US$3,848 million in 2020 to -US$5,229 million in 2024, indicating higher debt costs or increased borrowing.
- Other Financial Items
- Gains/losses on extinguishment of debt were minimal and trending toward neutral by 2024. Gains/losses on financial instruments and other pension costs fluctuated but did not show clear directional trends. Losses on equity investments increased significantly in 2023 and 2024, contributing negatively to overall results.
- Income Before Income Taxes
- Income before taxes rose from US$4,302 million in 2020 to US$7,502 million in 2024, despite a dip in 2023, signaling overall profit growth before taxation.
- Income Tax Expense
- Income tax expense increased consistently from -US$626 million in 2020 to -US$1,649 million in 2024, paralleling income growth before taxes.
- Consolidated Net Income
- Consolidated net income grew from US$3,676 million in 2020 to US$5,853 million in 2024, though 2023 experienced a decline. The pattern reflects a generally positive profit trend with some year-to-year fluctuations.
- Net Income Attributable to Noncontrolling Interests and Charter Shareholders
- Net income attributable to noncontrolling interests increased in absolute terms (more negative) from -US$454 million in 2020 to -US$770 million in 2024, indicating growing allocations to minority interests. Correspondingly, net income attributable to Charter shareholders increased from US$3,222 million in 2020 to US$5,083 million in 2024, with a dip in 2023, aligning with the overall net income pattern.