Balance Sheet: Liabilities and Stockholders’ Equity

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.

Charter Communications Inc., consolidated balance sheet: liabilities and stockholders’ equity

US$ in millions

	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Accounts payable, trade	880)	931)	952)	724)	763)
Deferred revenue	456)	509)	511)	461)	436)
Programming costs	1,576)	1,736)	1,914)	2,036)	1,940)
Labor	1,365)	1,283)	1,314)	1,304)	1,374)
Capital expenditures	2,906)	1,944)	1,792)	1,281)	1,227)
Interest	1,208)	1,328)	1,165)	1,099)	1,083)
Taxes and regulatory fees	649)	681)	667)	592)	555)
Short-term borrowings	758)	425)	—)	—)	—)
Other	1,889)	2,377)	2,240)	1,964)	1,489)
Accrued and other current liabilities	10,351)	9,774)	9,092)	8,276)	7,668)
Accounts payable, accrued and other current liabilities	11,687)	11,214)	10,555)	9,461)	8,867)
Current portion of long-term debt	1,799)	2,000)	1,510)	2,997)	1,008)
Current liabilities	13,486)	13,214)	12,065)	12,458)	9,875)
Long-term debt, less current portion	92,134)	95,777)	96,093)	88,564)	81,744)
Equipment installment plan financing facility	1,072)	—)	—)	—)	—)
Deferred income taxes	18,845)	18,954)	19,058)	19,096)	18,108)
Other long-term liabilities	4,776)	4,530)	4,758)	4,217)	4,198)
Long-term liabilities	116,827)	119,261)	119,909)	111,877)	104,050)
Total liabilities	130,313)	132,475)	131,974)	124,335)	113,925)
Class A common stock; $.001 par value	—)	—)	—)	—)	—)
Class B common stock; $.001 par value	—)	—)	—)	—)	—)
Preferred stock; $.001 par value; no shares issued and outstanding	—)	—)	—)	—)	—)
Additional paid-in capital	23,337)	23,346)	23,940)	26,725)	29,000)
Accumulated deficit	(7,750)	(12,260)	(14,821)	(12,675)	(5,195)
Accumulated other comprehensive loss	—)	—)	—)	—)	—)
Total Charter shareholders’ equity	15,587)	11,086)	9,119)	14,050)	23,805)
Noncontrolling interests	4,120)	3,632)	3,430)	4,106)	6,476)
Total shareholders’ equity	19,707)	14,718)	12,549)	18,156)	30,281)
Total liabilities and shareholders’ equity	150,020)	147,193)	144,523)	142,491)	144,206)

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 across the periods presented. There is a general increase in total liabilities from US$113,925 million in 2020 to a peak of US$132,475 million in 2023, followed by a slight decline to US$130,313 million in 2024. This increase is primarily driven by growth in long-term debt, which increased from US$81,744 million in 2020 to a peak of US$96,093 million in 2022 before declining to US$92,134 million in 2024. Current liabilities also fluctuated, with a significant rise in 2021 to US$12,458 million and subsequent variations, reaching US$13,486 million in 2024.

Accounts payable, trade and accrued liabilities: Accounts payable, trade showed modest volatility, decreasing from US$763 million in 2020 to US$724 million in 2021, then increasing to US$952 million in 2022, before slightly declining again to US$880 million by 2024. Accrued and other current liabilities presented a steady upward trend, rising from US$7,668 million in 2020 to US$10,351 million in 2024. Correspondingly, the combined accounts payable, accrued, and other current liabilities rose from US$8,867 million in 2020 to US$11,687 million in 2024.
Deferred revenue: Deferred revenue exhibited a steady increase from US$436 million in 2020 to US$511 million in 2022, with a slight decline thereafter to US$456 million in 2024, suggesting some fluctuations in prepaid customer commitments or service revenues recognized over time.
Operating expenses: Programming costs showed a continuous downward trend after peaking at US$2,036 million in 2021, decreasing to US$1,576 million by 2024. Labor costs decreased from US$1,374 million in 2020 to US$1,304 million in 2021, remaining relatively stable around US$1,300-1,365 million through 2024. The combined decrease in programming costs alongside stable labor costs could indicate efforts to reduce content-related expenditures while maintaining workforce levels.
Capital expenditures and financing: Capital expenditures increased substantially from US$1,227 million in 2020 to US$2,906 million in 2024, reflecting intensified investment activities. Interest expenses exhibited a fluctuating pattern, increasing from US$1,083 million in 2020 to US$1,328 million in 2023, before decreasing to US$1,208 million in 2024, which may relate to changes in debt levels or interest rates. Introduction of short-term borrowings is observed in 2023 (US$425 million) and increased further in 2024 (US$758 million), potentially indicating changes in short-term liquidity management or financing strategies.
Taxes and regulatory fees: Taxes and regulatory fees steadily rose from US$555 million in 2020 to US$681 million in 2023, followed by a slight decrease to US$649 million in 2024. This trend mirrors moderate shifts in tax obligations or regulatory costs over the period.
Equity and accumulated deficits: Additional paid-in capital steadily declined from US$29,000 million in 2020 to US$23,337 million in 2024, indicating possible share repurchases or capital restructuring activities. The accumulated deficit widened sharply from -US$5,195 million in 2020 to -US$14,821 million in 2022, then improved markedly to -US$7,750 million by 2024, signaling a reduction in net losses or improved profit retention. Total Charter shareholders’ equity decreased from US$23,805 million in 2020 to a low of US$9,119 million in 2022 but rebounded to US$15,587 million by 2024, consistent with the improvements in accumulated deficit. Noncontrolling interests fluctuated downward from US$6,476 million in 2020 to US$3,430 million in 2022, before recovering to US$4,120 million in 2024. Consequently, total shareholders’ equity declined from US$30,281 million in 2020 to US$12,549 million in 2022, then increased to US$19,707 million in 2024.
Total assets: Total liabilities and shareholders’ equity rose from US$144,206 million in 2020 to US$150,020 million in 2024, indicating overall growth in the company's asset base across the period, despite some fluctuations in liabilities and equity components.
Other observations: There is evidence of new financial instruments or financing arrangements starting in 2024, such as the equipment installment plan financing facility reported at US$1,072 million, highlighting diversification in financing sources. The “Other” category shows a rise from US$1,489 million in 2020 to US$2,377 million in 2023, then a decrease to US$1,889 million in 2024, suggesting volatility in miscellaneous expenses or income.

In summary, the data reflects a company with increasing investments and capital expenditures, managing a high but fluctuating level of debt. Operating expenses show some reduction in programming costs but stable labor costs. The equity position weakened significantly up to 2022, then improved notably by 2024, driven by reduced accumulated deficits. The overall asset base expanded moderately, supported by new financing structures and shifts in liabilities management.

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Charter Communications Inc. (NASDAQ:CHTR)

Balance Sheet: Liabilities and Stockholders’ Equity