Liberty Broadband (LBRDK) 10-K3 Feb 202019 FY Annual reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - USD ($) $ in Billions	12 Months Ended
Document and Entity Information - USD ($) $ in Billions	Dec. 31, 2019	Jan. 31, 2020	Jun. 28, 2019
Document Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2019
Document Transition Report	false
Entity File Number	001-36713
Entity Registrant Name	LIBERTY BROADBAND CORPORATION
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	47-1211994
Entity Address, Address Line One	12300 Liberty Boulevard
Entity Address, City or Town	Englewood
Entity Address, State or Province	CO
Entity Address, Postal Zip Code	80112
City Area Code	720
Local Phone Number	875-5700
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Public Float			$ 18
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	FY
Entity Central Index Key	0001611983
Amendment Flag	false
Series A common stock
Document Information [Line Items]
Title of 12(b) Security	Series A common stock
Trading Symbol	LBRDA
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding		26,493,289
Series B common stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		2,451,828
Series C common stock
Document Information [Line Items]
Title of 12(b) Security	Series C common stock
Trading Symbol	LBRDK
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding		152,957,753

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 49,724	$ 83,103
Other current assets	2,409	1,471
Total current assets	52,133	84,574
Investment in Charter, accounted for using the equity method (note 5)	12,194,674	12,004,376
Other assets	9,535	9,487
Total assets	12,256,342	12,098,437
Current liabilities:
Accounts payable and accrued liabilities	6,168	3,504
Deferred revenue and other current liabilities	5,971	4,691
Total current liabilities	12,139	8,195
Debt (note 6)	572,944	522,928
Deferred income tax liabilities (note 7)	999,757	965,829
Other liabilities	3,556	2,867
Total liabilities	1,588,396	1,499,819
Equity
Preferred stock, $.01 par value. Authorized 50,000,000 shares; no shares issued
Additional paid-in capital	7,890,084	7,938,357
Accumulated other comprehensive earnings, net of taxes	8,158	7,778
Retained earnings (accumulated deficit)	2,767,885	2,650,669
Total equity	10,667,946	10,598,618
Commitments and contingencies (note 11)
Total liabilities and equity	12,256,342	12,098,437
Series A common stock
Equity
Common stock	265	263
Series B common stock
Equity
Common stock	25	25
Series C common stock
Equity
Common stock	$ 1,529	$ 1,526

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2019	Dec. 31, 2018
Preferred stock par value	$ 0.01	$ 0.01
Preferred stock shares authorized	50,000,000	50,000,000
Preferred shares issued	0	0
Series A common stock
Common stock par value	$ 0.01	$ 0.01
Common stock shares authorized	500,000,000	500,000,000
Common Stock, Shares, Issued	26,493,197	26,311,681
Common Stock, Shares, Outstanding	26,493,197	26,311,681
Series B common stock
Common stock par value	$ 0.01	$ 0.01
Common stock shares authorized	18,750,000	18,750,000
Common Stock, Shares, Issued	2,451,920	2,454,520
Common Stock, Shares, Outstanding	2,451,920	2,454,520
Series C common stock
Common stock par value	$ 0.01	$ 0.01
Common stock shares authorized	500,000,000	500,000,000
Common Stock, Shares, Issued	152,956,316	152,591,939
Common Stock, Shares, Outstanding	152,956,316	152,591,939

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Revenue:
Total Revenue	$ 14,859	$ 22,256	$ 13,092
Operating costs and expenses
Operating, including stock-based compensation (note 9)	9,450	7,994	10,735
Selling, general and administrative, including stock-based compensation (note 9)	32,811	23,497	24,065
Depreciation and amortization	1,875	2,779	3,770
Total operating costs and expenses	44,136	34,270	38,570
Operating income (loss)	(29,277)	(12,014)	(25,478)
Other income (expense):
Interest expense	(25,166)	(23,302)	(19,570)
Share of earnings (losses) of affiliates (note 5)	286,401	166,146	2,508,991
Gain (loss) on dilution of investment in affiliate (note 5)	(79,329)	(43,575)	(17,872)
Realized and unrealized gains (losses) on financial instruments, net (note 4)	1,170	3,659	3,098
Other, net	1,359	963	1,431
Earnings (loss) before income taxes	155,158	91,877	2,450,600
Income tax benefit (expense)	(37,942)	(21,924)	(416,933)
Net earnings (loss) attributable to Liberty Broadband shareholders	$ 117,216	$ 69,953	$ 2,033,667
Basic net earnings (loss) attributable to Series A, Series B and Series C Liberty Broadband shareholders per common share (note 3)	$ 0.65	$ 0.39	$ 11.19
Diluted net earnings (loss) attributable to Series A, Series B and Series C Liberty Broadband shareholders per common share (note 3)	$ 0.64	$ 0.38	$ 11.10
Software sales
Revenue:
Total Revenue	$ 14,859	$ 22,256	$ 12,320
Service
Revenue:
Total Revenue			$ 772

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Earnings (Loss) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Condensed Consolidated Statements of Comprehensive Earnings (Loss)
Net earnings (loss)	$ 117,216	$ 69,953	$ 2,033,667
Other comprehensive earnings (loss), net of taxes:
Share of other comprehensive earnings (loss) of equity affiliate and other	380	(172)	768
Other		(474)
Other comprehensive earnings (loss), net of taxes	380	(646)	768
Comprehensive earnings (loss) attributable to Liberty Broadband shareholders	$ 117,596	$ 69,307	$ 2,034,435

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Cash flows from operating activities:
Net earnings (loss)	$ 117,216	$ 69,953	$ 2,033,667
Adjustments to reconcile net earnings (loss) to net cash provided by operating activities:
Depreciation and amortization	1,875	2,779	3,770
Stock-based compensation	10,511	5,707	5,292
Cash payments for stock-based compensation	(209)	(342)	(525)
Share of (earnings) losses of affiliates, net	(286,401)	(166,146)	(2,508,991)
(Gain) loss on dilution of investment in affiliate	79,329	43,575	17,872
Realized and unrealized (gains) losses on financial instruments, net	(1,170)	(3,659)	(3,098)
Deferred income tax expense (benefit)	37,940	21,569	416,838
Other, net	1,680	1,838	2,030
Changes in operating assets and liabilities:
Current and other assets	(820)	1,476	2,310
Payables and other liabilities	2,486	(3,010)	804
Net cash provided by operating activities	(37,563)	(26,260)	(30,031)
Cash flows from investing activities:
Capital expended for property and equipment	(500)	(41)	(70)
Other investing activities, net			14
Net cash used investing activities	(500)	(41)	(56)
Cash flows from financing activities:
Borrowings of debt	50,000	158,000	500,000
Repayments of debt		(133,000)	(600,000)
Proceeds (payments) from issuances of financial instruments	(46,330)	(142,824)	(149,368)
Proceeds (payments) from settlements of financial instruments	47,500	146,483	155,683
Payment to former parent under tax sharing agreement related to net settlement of Awards	(49,718)
Other financing activities, net	3,232	(512)	(699)
Net cash provided (used) by financing activities	4,684	28,147	(94,384)
Net increase (decrease) in cash, cash equivalents and restricted cash	(33,379)	1,846	(124,471)
Cash, cash equivalents and restricted cash, beginning of period	83,103	81,257	205,728
Cash, cash equivalents and restricted cash, end of period	49,724	83,103	81,257
Supplemental Cash Flow Information [Abstract]
Cash paid for interest	23,908	21,948	17,496
Cash paid (received) for taxes	$ 5
Cash paid (received) for taxes		$ (730)	$ (1,787)

Condensed Consolidated Statem_4

Condensed Consolidated Statement of Equity - USD ($) $ in Thousands	CharterRetained earnings (accumulated) deficit	Charter	Series A common stockCommon stock	Series B common stockCommon stock	Series C common stockCommon stock	Additional paid-in capital	Accumulated other comprehensive earnings	Retained earnings (accumulated) deficit	Total
Balance at Dec. 31, 2016			$ 262	$ 25	$ 1,530	$ 7,945,883	$ 7,656	$ 517,736	$ 8,473,092
Increase (Decrease) in Stockholders' Equity
Net earnings (loss)								2,033,667	2,033,667
Other comprehensive earnings (loss)							768		768
Stock-based compensation						5,358			5,358
Issuance of common stock upon exercise of stock options					1	2,456			2,457
Cumulative effect of accounting change	$ 17,361	$ 17,361
Non-cash settlement of financial instrument					(5)	(45,797)			(45,802)
Balance at Dec. 31, 2017			262	25	1,526	7,907,900	8,424	2,568,764	10,486,901
Increase (Decrease) in Stockholders' Equity
Net earnings (loss)								69,953	69,953
Other comprehensive earnings (loss)							(646)		(646)
Stock-based compensation						5,402			5,402
Issuance of common stock upon exercise of stock options			1			737			738
Cumulative effect of accounting change	$ 10,729	$ 10,729						1,223	1,223
Noncontrolling interest activity at Charter						24,318			24,318
Balance at Dec. 31, 2018			263	25	1,526	7,938,357	7,778	2,650,669	10,598,618
Increase (Decrease) in Stockholders' Equity
Net earnings (loss)								117,216	117,216
Other comprehensive earnings (loss)							380		380
Stock-based compensation						10,216			10,216
Issuance of common stock upon exercise of stock options					1	4,481			4,482
Payment to former parent under tax sharing agreement related to net settlement of Awards						(49,921)			(49,921)
Noncontrolling interest activity at Charter			2		2	(13,049)			(13,045)
Balance at Dec. 31, 2019			$ 265	$ 25	$ 1,529	$ 7,890,084	$ 8,158	$ 2,767,885	$ 10,667,946

Basis of Presentation

Basis of Presentation	12 Months Ended
Basis of Presentation	Dec. 31, 2019
Basis of Presentation
Basis of Presentation	(1) Basis of Presentation During May 2014, the board of directors of Liberty Media Corporation and its subsidiaries (“Liberty”) authorized management to pursue a plan to spin-off to its stockholders common stock of a wholly-owned subsidiary, Liberty Broadband Corporation (“Liberty Broadband” or the “Company”), and to distribute subscription rights to acquire shares of Liberty Broadband’s common stock (the “Broadband Spin-Off”). At the time of the Broadband Spin-off, Liberty Broadband was comprised of (i) Liberty’s former interest in Charter Communications, Inc. (“Legacy Charter”), (ii) Liberty’s former wholly-owned subsidiary TruePosition, Inc. (“TruePosition”), (iii) Liberty’s former minority equity investment in Time Warner Cable, Inc. (“Time Warner Cable”), (iv) certain deferred tax liabilities, as well as liabilities related to the Time Warner Cable written call options and (v) initial indebtedness, pursuant to margin loans entered into prior to the completion of the Broadband Spin-Off. These financial statements refer to Liberty Broadband Corporation as “Liberty Broadband,” “the Company,” “us,” “we” and “our” in the notes to the consolidated financial statements. The Broadband Spin-Off was accounted for at historical cost due to the pro rata nature of the distribution to holders of Liberty common stock. In the Broadband Spin-Off, record holders of Liberty Series A, Series B and Series C common stock received one one Following the Broadband Spin-Off, Liberty and Liberty Broadband operate as separate, publicly traded companies, and neither has any stock ownership, beneficial or otherwise, in the other. In connection with the Broadband Spin-Off, Liberty (for accounting purposes a related party of the Company) and Liberty Broadband entered into certain agreements in order to govern certain of the ongoing relationships between the two companies after the Broadband Spin-Off and to provide for an orderly transition. These agreements include a reorganization agreement, a services agreement, a facilities sharing agreement and a tax sharing agreement. The reorganization agreement provides for, among other things, the principal corporate transactions (including the internal restructuring) required to effect the Broadband Spin-Off, certain conditions to the Broadband Spin-Off and provisions governing the relationship between Liberty Broadband and Liberty with respect to and resulting from the Broadband Spin-Off. The tax sharing agreement provides for the allocation and indemnification of tax liabilities and benefits between Liberty and Liberty Broadband and other agreements related to tax matters. Pursuant to the services agreement, Liberty provides Liberty Broadband with general and administrative services including legal, tax, accounting, treasury and investor relations support. See below for a description of an amendment to the services agreement in December 2019. Under the facilities sharing agreement, Liberty Broadband shares office space with Liberty and related amenities at Liberty’s corporate headquarters. Liberty Broadband will reimburse Liberty for direct, out-of-pocket expenses incurred by Liberty in providing these services which will be negotiated semi-annually. Under these various agreements, amounts reimbursable to Liberty were approximately $54.2 million and $3.5 million for the years ended December 31, 2019 and 2018, respectively. In December 2019, the Company entered into an amendment to the services agreement with Liberty in connection with Liberty’s entry into a new employment arrangement with Gregory B. Maffei, the Company’s President and Chief Executive Officer. Under the amended services agreement, components of his compensation will either be paid directly to him by each of the Company, Liberty TripAdvisor Holdings, Inc., GCI Liberty, Inc., and Qurate Retail, Inc. (collectively, the “Service Companies”) or reimbursed to Liberty, in each case, based on allocations among Liberty and the Service Companies set forth in the amended services agreement, currently set at 18% for the Company. The new agreement provides for a five year employment term which began on January 1, 2020 and ends December 31, 2024, with an aggregate annual base salary of $3 million (with no contracted increase), an aggregate one-time cash commitment bonus of $5 million, an aggregate annual target cash performance bonus of $17 million, aggregate annual equity awards of $17.5 million and aggregate equity awards granted in connection with his entry into his new agreement of $90 million (the “upfront awards”). A portion of the grants made to our CEO in the year ended December 31, 2019 related to our company’s allocable portion of these upfront awards. On May 18, 2016, Time Warner Cable merged with Charter (the “Time Warner Cable Merger”). In connection with the Time Warner Cable Merger, Legacy Charter underwent a corporate reorganization, resulting in CCH I, LLC (“Charter”), a former subsidiary of Charter, becoming the new publicly traded parent company. Also on May 18, 2016, the previously announced acquisition of Bright House Networks, LLC (“Bright House”) from Advance/Newhouse Partnership (“A/N”) by Charter (the “Bright House Transaction”) was completed. In connection with the Time Warner Cable Merger and Bright House Transaction, Liberty Broadband entered into certain agreements with Legacy Charter, Charter (for accounting purposes a related party of the Company), Liberty Interactive Corporation (“Liberty Interactive” (now known as Qurate Retail, Inc.), for accounting purposes a related party of the Company) and Time Warner Cable. As a result of the Time Warner Cable Merger and Bright House Transaction (collectively, the “Transactions”), Liberty Broadband exchanged its shares of Time Warner Cable for shares of Charter and purchased additional shares of Charter. As a result, and pursuant to proxy agreements with GCI Liberty, Inc. (the “GCI Liberty Agreement”) and A/N (the “A/N Proxy”), Liberty Broadband controls 25.01% of the aggregate voting power of Charter. See note 5 for additional detail regarding these transactions and corresponding agreements. The accompanying consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“GAAP”) and represent the historical consolidated financial information of Skyhook, the Company’s interest in Charter, the Company’s former minority equity investment in Time Warner Cable and certain deferred tax liabilities. All significant intercompany accounts and transactions have been eliminated in the consolidated financial statements.

Description of Business

Description of Business	12 Months Ended
Description of Business	Dec. 31, 2019
Description of Business
Description of Business	(2) Description of Business Skyhook Holding, Inc. (formerly known as TruePosition) was originally incorporated on November 24, 1992 to provide technology for locating wireless phones and other mobile devices. TruePosition offered a passive network-based location system based on its patented U-TDOA technology (“U-TDOA Service”) to provide E-9-1-1 services domestically and to enhance services in support of commercial applications and national security law enforcement worldwide. In February 2014, TruePosition acquired 100% of the outstanding common shares of Skyhook Wireless, Inc., for approximately $57.5 million in cash. Skyhook Wireless, Inc. was an alternative location services provider that offered a positioning system that used device-based measurements, as opposed to TruePosition’s network-based technology. In May 2016, TruePosition and Skyhook Wireless, Inc. combined operations in order to focus on the development and sale of Skyhook’s device-based location technology, and TruePosition subsequently changed its name to Skyhook Holding, Inc. Skyhook Holding, Inc. and Skyhook Wireless, Inc. are referred to collectively herein as “Skyhook.” Today, Skyhook markets and sells two primary products: (1) a location determination service called the Precision Location Solution; and (2) a location intelligence and data insights service called Geospatial Insights. Skyhook’s Precision Location Solution works by collecting nearby radio signals (such as information from WiFi access points, cell towers, IP addresses and other radio beacons) that are observed by a mobile device. Skyhook’s Geospatial Insights product uses location data to analyze foot traffic patterns and better understand the real-world behavior of consumers. Skyhook’s revenue is derived from the sale and integration of its Precision Location Solution (including the licensing of software and data components that make up that solution) and the licensing of Geospatial Insights data. In addition, Skyhook earns revenue through entering into licensing agreements with companies to utilize its underlying intellectual property (including patents). Charter is the second largest cable operator in the United States and a leading broadband communications services company providing video, Internet and voice services to approximately 29.2 million residential and small and medium business customers at December 31, 2019. Charter offers mobile services to residential customers and recently launched mobile service to small and medium business customers. In addition, Charter sells video and online advertising inventory to local, regional and national advertising customers and tailored communications and managed solutions to larger enterprise customers. Charter also owns and operates regional sports networks and local sports, news and community channels.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
Summary of Significant Accounting Policies	Dec. 31, 2019
Summary of Significant Accounting Policies
Summary of Significant Accounting Policies	(3) Summary of Significant Accounting Policies Cash and Cash Equivalents Cash consists of cash deposits held in global financial institutions. Cash equivalents consist of highly liquid investments with original maturities of three months or less at the time of acquisition. Cash that has restrictions upon its usage has been excluded from cash and cash equivalents. Derivative Instruments and Hedging Activities All of the Company’s derivatives, whether designated in hedging relationships or not, are recorded on the balance sheet at fair value. None of the Company’s derivatives are currently designated as hedges, as a result, changes in the fair value of the derivative are recognized in earnings. The fair value of certain of the Company’s derivative instruments are estimated using the Black Scholes Merton option-pricing model (“Black-Scholes model”). The Black-Scholes model incorporates a number of variables in determining such fair values, including expected volatility of the underlying security and an appropriate discount rate. The Company obtained volatility rates from pricing services based on the expected volatility of the underlying security over the remaining term of the derivative instrument. A discount rate was obtained at the inception of the derivative instrument and updated each reporting period, based on the Company’s estimate of the discount rate at which it could currently settle the derivative instrument. The Company considered its own credit risk as well as the credit risk of its counterparties in estimating the discount rate. Management judgment was required in estimating the Black-Scholes variables. The Company had no outstanding derivative instruments at December 31, 2019 or December 31, 2018. Investment in Equity Method Affiliate For those investments in affiliates in which the Company has the ability to exercise significant influence, the equity method of accounting is used. Under this method, the investment, originally recorded at cost, is adjusted to recognize the Company’s share of net earnings or losses of the affiliate as they occur rather than as dividends or other distributions are received. Losses are limited to the extent of the Company’s investment in, advances to and commitments for the investee. The Company determines the difference between the purchase price of the investee and the underlying equity which results in an excess basis in the investment. This excess basis is allocated to the underlying assets and liabilities of the Company’s investee through a purchase accounting exercise and is allocated within memo accounts used for equity accounting purposes. Depending on the applicable underlying assets, these amounts are either amortized over the applicable useful lives or determined to be indefinite lived. Changes in the Company’s proportionate share of the underlying equity of an equity method investee, which result from the issuance of additional equity securities by such equity investee, are recognized in the statement of operations through the gain (loss) on dilution of investment in affiliate line item. We periodically evaluate our equity method investment to determine if decreases in fair value below our cost basis are other than temporary. If a decline in fair value is determined to be other than temporary, we are required to reflect such decline in our consolidated statement of operations. Other than temporary declines in fair value of our equity method investment would be included in share of earnings (losses) of affiliate in our consolidated statement of operations. The primary factors we consider in our determination of whether declines in fair value are other than temporary are the length of time that the fair value of the investment is below our carrying value; the severity of the decline; and the financial condition, operating performance and near term prospects of the investee. In addition, we consider the reason for the decline in fair value, be it general market conditions, industry specific or investee specific; analysts' ratings and estimates of 12 month share price targets for the investee; changes in stock price or valuation subsequent to the balance sheet date; and our intent and ability to hold the investment for a period of time sufficient to allow for a recovery in fair value. Fair value of our publicly traded cost and equity investments is based on the market prices of the investments at the balance sheet date. Impairments are calculated as the difference between our carrying value and our estimate of fair value. As our assessment of the fair value of our investments and any resulting impairment losses and the timing of when to recognize such charges requires judgment and includes estimates and assumptions, actual results could differ materially from our estimates and assumptions. As Liberty Broadband does not control the decision making process or business management practices of our affiliate accounted for using the equity method, Liberty Broadband relies on management of its affiliate to provide it with accurate financial information prepared in accordance with GAAP that the Company uses in the application of the equity method. In addition, Liberty Broadband relies on the audit reports that are provided by the affiliate’s independent auditors on the financial statements of such affiliate. The Company is not aware, however, of any errors in or possible misstatements of the financial information provided by its equity affiliate that would have a material effect on Liberty Broadband’s consolidated financial statements. See note 5 for additional discussion regarding our investment in Charter and the Transactions that occurred during the second quarter of 2016. Foreign Currency Translation and Transaction Gains and Losses The functional currency of the Company is the United States (“U.S.”) dollar. Transactions denominated in currencies other than the functional currency are recorded based on exchange rates at the time such transactions arise. Subsequent changes in exchange rates result in transaction gains and losses which are reflected in the accompanying consolidated statements of operations and comprehensive earnings (loss) as unrealized (based on the applicable period end exchange rate) or realized upon settlement of the transactions. Revenue Recognition As of January 1, 2018, the Company adopted the Accounting Standards Updates (“ASU”) amending revenue recognition guidance using the modified retrospective method for all contracts reflecting the aggregate effect of modifications prior to the date of adoption. Results for reporting periods beginning after January 1, 2018 are presented under the new guidance, while prior period amounts were not adjusted and continue to be reported under the accounting standards in effect for those periods. Upon adoption, we recognized a net cumulative effect of applying the new revenue guidance as a net increase to the opening balance of retained earnings of $1.2 million, as well as an increase to other current assets of $0.3 million, an increase to deferred income tax liabilities of $0.4 million and a decrease to deferred revenue and other current liabilities of $1.3 million, primarily due to changes in the timing of revenue recognition. The impact of the new accounting guidance to our consolidated statement of operations was not meaningful for the years ended December 31, 2019 and 2018, and we do not expect it to be meaningful going forward. Skyhook earns revenue from the sale and integration of its Precision Location Solution (including the licensing of software and data components that make up that solution) and the licensing of Geospatial Insights data. In addition, Skyhook earns revenue through entering into licensing agreements with companies to utilize its underlying intellectual property. Revenue is recognized upon transfer of control of promised products or services to its customers in an amount that reflects the consideration expected to be received in exchange for those products and services. Skyhook sells its Precision Location Solution and Geospatial Insights data via fixed fee, usage basis or revenue share licensing arrangements. Revenue for fixed fee arrangements is recognized on a straight-line basis over the performance period. Revenue for usage based contracts or revenue share arrangements is recognized upon transfer of the service to its customers. Contracts with customers often include multiple products and services, which in general are not distinct within the context of the contract. Transaction prices of individual products and services are not allocated to specific performance obligations and are recognized ratably. Skyhook recognizes fees received from intellectual property licensing at the inception of a license term for perpetual licenses when there are no ongoing performance obligations. Revenue recognition is deferred when there are ongoing performance obligations. In such circumstances, revenue would be allocated to the performance obligation and recognized upon the transfer of control of the promised product or service. Deferred Revenue. At January 1, 2019, deferred revenue liabilities consisted of $4.3 million and $1.9 million, included in deferred revenue and other current liabilities and other liabilities, respectively. Of this $6.2 million that was recorded as deferred revenue, $4.3 million was recognized as revenue during the year ended December 31, 2019. At December 31, 2019, the related balance consisted of $4.8 million and $1.8 million, included in deferred revenue and other current liabilities, and other liabilities, respectively. Of this $6.6 million that was recorded as deferred revenue, we expect to recognize approximately 97% over the next three years . At January 1, 2018, deferred revenue liabilities consisted of $4.5 million and $2.3 million, included in deferred revenue and other current liabilities, and other liabilities, respectively. Of this $6.8 million that was recorded as deferred revenue, $4.2 million was recognized as revenue during the year ended December 31, 2018. At December 31, 2018, the related balance consisted of $4.3 million and $1.9 million, included in deferred revenue and other current liabilities, and other liabilities, respectively. Accounting Policies Elected. Practical Expedients Utilized. The Company has elected to apply the new revenue guidance only to those contracts that were not completed contracts as of December 31, 2017 and considered contract modifications that occurred prior to January 1, 2018 as combined with the original contract. Subsequent to January 1, 2018, the Company considers each modification separately in accordance with the new guidance. Significant Judgments. Stock-Based Compensation As more fully described in note 9, Liberty Broadband has granted to its directors, employees and employees of certain of its subsidiaries, restricted stock and stock options to purchase shares of Liberty Broadband common stock (collectively, “Awards”). Liberty Broadband measures the cost of employee services received in exchange for an equity classified Award (such as stock options and restricted stock) based on the grant-date fair value of the Award, and recognizes that cost over the period during which the employee is required to provide service (usually the vesting period of the Award). Liberty Broadband measures the cost of employee services received in exchange for a liability classified Award based on the current fair value of the Award, and remeasures the fair value of the Award at each reporting date. Certain outstanding awards of Liberty were assumed by Liberty Broadband at the time of the Broadband Spin-Off. Additionally, Skyhook sponsors long-term incentive plans (“LTIPs”) which provide for the granting of phantom stock units (“PSUs”), and phantom stock appreciation rights (“PARs”) to employees, directors, and consultants of Skyhook. Skyhook measures the cost of employee services received in exchange for awards of equity instruments based on the grant-date fair value of the award and recognizes that cost ratably over the period during which the employee is required to provide service (usually the vesting period of the award). Skyhook measures the cost of employee services received in exchange for awards of liability instruments (such as PSUs and PARs that will be settled in cash) based on the current fair value of the award, and remeasures the fair value of the award at each reporting date. The consolidated statements of operations includes stock-based compensation related to Skyhook awards. Income Taxes The Company accounts for income taxes using the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying value amounts and income tax bases of assets and liabilities and the expected benefits of utilizing net operating loss and tax credit carryforwards. The deferred tax assets and liabilities are calculated using enacted tax rates in effect for each taxing jurisdiction in which the Company operates for the year in which those temporary differences are expected to be recovered or settled. Net deferred tax assets are then reduced by a valuation allowance if the Company believes it more likely than not that such net deferred tax assets will not be realized. We consider all relevant factors when assessing the likelihood of future realization of our deferred tax assets, including our recent earnings experience by jurisdiction, expectations of future taxable income, and the carryforward periods available to us for tax reporting purposes, as well as assessing available tax planning strategies. The effect on deferred tax assets and liabilities of an enacted change in tax rates is recognized in income in the period that includes the enactment date. Due to inherent complexities arising from the nature of our businesses, future changes in income tax law, tax sharing agreements or variances between our actual and anticipated operating results, we make certain judgments and estimates. Therefore, actual income taxes could materially vary from these estimates. When the tax law requires interest to be paid on an underpayment of income taxes, the Company recognizes interest expense from the first period the interest would begin accruing according to the relevant tax law. Such interest expense is included in interest expense in the accompanying consolidated statements of operations. Any accrual of penalties related to underpayment of income taxes on uncertain tax positions is included in other income (expense) in the accompanying consolidated statements of operations. We recognize in our consolidated financial statements the impact of a tax position, if that position is more likely than not to be sustained upon an examination, based on the technical merits of the position. Certain Risks and Concentrations The Skyhook business is subject to certain risks and concentrations including dependence on relationships with its customers. The Company’s largest customers, that accounted for greater than 10% of revenue, aggregated 58% of total revenue for the year ended December 31, 2019, 66% of total revenue for the year ended December 31, 2018 and 57% for the year ended December 31, 2017. Contingent Liabilities Periodically, we review the status of all significant outstanding matters to assess any potential financial exposure. When (i) it is probable that an asset has been impaired or a liability has been incurred and (ii) the amount of the loss can be reasonably estimated, we record the estimated loss in our consolidated statements of operations. We provide disclosure in the notes to the consolidated financial statements for loss contingencies that do not meet both these conditions if there is a reasonable possibility that a loss may have been incurred that would be material to the financial statements. Significant judgment is required to determine the probability that a liability has been incurred and whether such liability is reasonably estimable. We base accruals made on the best information available at the time which can be highly subjective. The final outcome of these matters could vary significantly from the amounts included in the accompanying consolidated financial statements. Comprehensive Earnings (Loss) Comprehensive earnings (loss) consists of net earnings (loss), cumulative foreign currency translation adjustments, unrealized gains and losses on available-for-sale securities, net of tax and the Company’s share of the comprehensive earnings (loss) of our equity method affiliate. Earnings per Share (EPS) Basic earnings (loss) per common share (“EPS”) is computed by dividing net earnings (loss) by the weighted average number of common shares outstanding for the period. Diluted EPS presents the dilutive effect on a per share basis of potential common shares as if they had been converted at the beginning of the periods presented. Years ended December 31, 2019 2018 2017 number of shares in thousands Basic WASO 181,531 181,325 181,772 Potentially dilutive shares 1,253 1,264 1,374 Diluted WASO 182,784 182,589 183,146 Potential common shares excluded from diluted EPS because their inclusion would be antidilutive for the years ended December 31, 2019, 2018 and 2017 are approximately 309 thousand, 10 thousand and zero, respectively. Reclasses and adjustments Certain prior period amounts have been reclassified for comparability with the current year presentation. Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. The Company considers the application of the equity method of accounting for its affiliates and accounting for income taxes to be its most significant estimates.

Assets and Liabilities Measured

Assets and Liabilities Measured at Fair Value	12 Months Ended
Assets and Liabilities Measured at Fair Value	Dec. 31, 2019
Assets and Liabilities Measured at Fair Value
Assets and Liabilities Measured at Fair Value	(4) Assets and Liabilities Measured at Fair Value For assets and liabilities required to be reported at fair value, GAAP provides a hierarchy that prioritizes inputs to valuation techniques used to measure fair value into three broad levels. Level 1 inputs are quoted market prices in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. Level 2 inputs are inputs, other than quoted market prices included within Level 1, that are observable for the asset or liability, either directly or indirectly. Level 3 inputs are unobservable inputs for the asset or liability. The Company does not have any recurring assets or liabilities measured at fair value that would be considered Level 3. The Company’s assets and liabilities measured at fair value are as follows: December 31, 2019 December 31, 2018 Quoted prices Significant Quoted prices Significant in active other in active other markets for observable markets for observable identical assets inputs identical assets inputs Description Total (Level 1) (Level 2) Total (Level 1) (Level 2) amounts in thousands Cash equivalents $ 48,174 48,174 — 67,329 67,329 — Other Financial Instruments Other financial instruments not measured at fair value on a recurring basis include trade receivables, trade payables, accrued and other current liabilities, current portion of debt and long-term debt. With the exception of long-term debt, the carrying amount approximates fair value due to the short maturity of these instruments as reported on our consolidated balance sheets. The carrying value of our long-term debt bears interest at a variable rate and therefore is also considered to approximate fair value. Realized and Unrealized Gains (Losses) on Financial Instruments Realized and unrealized gains (losses) on financial instruments are comprised of changes in the fair value of the following: Years ended December 31, 2019 2018 2017 (amounts in thousands) Derivative instruments (1) 1,170 3,659 3,098 $ 1,170 3,659 3,098 (1) See note 8 for a summary of the Company’s zero-strike call option activity .

Investment in Charter Accounted

Investment in Charter Accounted for Using the Equity Method	12 Months Ended
Investment in Charter Accounted for Using the Equity Method	Dec. 31, 2019
Investment in Charter Accounted for Using the Equity Method
Investment in Charter Accounted for Using the Equity Method	(5) Investment in Charter Accounted for Using the Equity Method Through a number of prior years’ transactions, Liberty Broadband has acquired an interest in Charter. The investment in Charter is accounted for as an equity method affiliate based on our voting and ownership interest and the board seats held by individuals appointed by Liberty Broadband. As of December 31, 2019, the carrying value of Liberty Broadband’s ownership in Charter was approximately $12,195 million. The market value of Liberty Broadband’s ownership in Charter as of December 31, 2019 was approximately $26,229 million, which represented an approximate economic ownership of 26% of the outstanding equity of Charter as of that date. Pursuant to the proxy agreements with GCI Liberty, Inc. and A/N, Liberty Broadband has an irrevocable proxy to vote certain shares of Charter common stock owned beneficially or of record by GCI Liberty, Inc. and A/N following the closing of the Time Warner Cable Merger, for a five year term subject to extension upon the mutual agreement of both parties, subject to certain limitations. Liberty Broadband’s overall voting interest is diluted by the outstanding A/N interest in a subsidiary of Charter because the A/N interest has voting rights in Charter. As a result of the A/N Proxy and the GCI Liberty, Inc. Agreement, Liberty Broadband controls 25.01% of the aggregate voting power of Charter following the completion of the Time Warner Cable Merger and the Bright House Transaction and is Charter’s largest stockholder. Additionally, so long as the A/N Proxy is in effect, if A/N proposes to transfer common units of Charter Communications Holdings, LLC (which units are exchangeable into Charter shares and which will, under certain circumstances, result in the conversion of certain shares of Charter class B common stock into Charter shares) or Charter shares, in each case, constituting either (i) shares representing the first 7.0% of the outstanding voting power of Charter held by A/N or (ii) shares representing the last 7.0% of the outstanding voting power of Charter held by A/N, Liberty Broadband will have a right of first refusal (“ROFR”) to purchase all or a portion of any such securities A/N proposes to transfer. The purchase price per share for any securities sold to Liberty Broadband pursuant to the ROFR will be the volume-weighted average price of Charter shares for the two During the years ended December 31, 2019, 2018 and 2017, there was a dilution loss of $79 million, $44 million, and $18 million, respectively, in the Company’s investment in Charter. The dilution losses are attributable to stock option exercises by employees and other third parties at prices below Liberty Broadband’s book basis per share. During the years ended December 31, 2019, 2018 and 2017, the Company recorded $380 thousand, $172 thousand and $768 thousand, respectively, of its share of Charter’s other comprehensive earnings (loss), net of income taxes. Charter records gains and losses related to the fair value of its interest rate swap agreements which qualify as hedging activities in other comprehensive earnings (loss). The pre-tax portion of Liberty Broadband’s share of Charter’s other comprehensive earnings was $0.5 million, $0.2 million and $1.2 million for the years ended December 31, 2019, 2018 and 2017, respectively. The excess basis has been allocated within memo accounts used for equity method accounting purposes as follows (amounts in millions): Years ended December 31, 2019 2018 Property and equipment $ 225 328 Customer relationships 1,043 721 Franchise fees 1,996 1,821 Trademarks 29 29 Goodwill 1,630 1,202 Debt (9) (105) Deferred income tax liability (817) (698) $ 4,097 3,298 Property and equipment and customer relationships have weighted average remaining useful lives of approximately 5 years and 10 years, respectively, and indefinite lives to franchise fees, trademarks and goodwill. The excess basis of outstanding debt is amortized over the contractual period using the straight-line method. The increase in excess basis for the year ended December 31, 2019, was primarily due to Charter’s share buyback program. Included in our share of earnings from Charter of $286 million, $166 million and $2,509 million for the years ended December 31, 2019, 2018 and 2017, respectively, are $124 million, $119 million and $277 million, respectively, of losses, net of taxes, due to the amortization of the excess basis related to assets with identifiable useful lives and debt. Accounting Changes Charter adopted the new leasing standard as of January 1, 2019, using the modified retrospective approach with a cumulative-effect adjustment recorded at the beginning of the period of adoption. The new standard resulted in the recording of leased assets and lease liabilities for Charter’s operating leases of approximately $1.1 billion and $1.2 billion, respectively, as of January 1, 2019. The difference between the leased assets and lease liabilities primarily represents the prior year end deferred rent liabilities balance, resulting from historical straight-lining of operating leases, which was effectively reclassified upon adoption to reduce the measurement of the leased assets. The adoption of the standard did not have an impact on Charter’s shareholders equity, results from operations and cash flows. Charter adopted several new accounting standards during the year ended December 31, 2018, including the new revenue guidance and guidance related to tax consequences of intra-entity asset transfers (other than the transfer of inventory). Upon adoption of the standards, Charter recognized an increase to total shareholders’ equity of $69 million during the year ended December 31, 2018. Summarized financial information for Charter is as follows: Consolidated Balance Sheets December 31, December 31, 2019 2018 amounts in millions Current assets $ 6,537 2,944 Property and equipment, net 34,591 35,126 Goodwill 29,554 29,554 Intangible assets 74,775 76,884 Other assets 2,731 1,622 Total assets $ 148,188 146,130 Current liabilities $ 12,385 12,095 Deferred income taxes 17,711 17,389 Long-term debt 75,578 69,537 Other liabilities 3,703 2,837 Equity 38,811 44,272 Total liabilities and equity $ 148,188 146,130 Consolidated Statements of Operations Years ended December 31, 2019 2018 2017 amounts in millions Revenue $ 45,764 43,634 41,581 Cost and expenses: Operating costs and expenses (excluding depreciation and amortization) 29,224 27,860 26,541 Depreciation and amortization 9,926 10,318 10,588 Other operating expenses, net 103 235 346 39,253 38,413 37,475 Operating income 6,511 5,221 4,106 Interest expense, net (3,797) (3,540) (3,090) Loss on extinguishment of debt (25) — (40) Other income (expense), net (258) 5 52 Income tax (expense) benefit (439) (180) 9,087 Net earnings (loss) 1,992 1,506 10,115 Less: Net income attributable to noncontrolling interests (324) (276) (220) Net Income (loss) attributable to Charter shareholders $ 1,668 1,230 9,895

Debt

Debt	12 Months Ended
Debt	Dec. 31, 2019
Debt
Debt	(6) Debt Amended 2017 Margin Loan Facility On August 19, 2019, a bankruptcy remote wholly owned subsidiary of the Company (“SPV”), entered into Amendment No. 2 to its multi-draw margin loan credit facility (the “Amended 2017 Margin Loan Facility” and, the credit agreement governing such facility, the “Amended 2017 Margin Loan Agreement”) with Wilmington Trust, National Association as the successor administrative agent, BNP Paribas, Dublin Branch, as the successor calculation agent, and the lenders thereunder. SPV is permitted, subject to certain funding conditions, to borrow term loans up to an aggregate principal amount equal to $1.0 billion. SPV will also have the ability from time to time to request additional loans in an aggregate principal amount of up to $1.0 billion on an uncommitted basis subject to certain conditions. SPV had borrowed $575 million and $525 million as of December 31, 2019 and 2018, respectively. SPV has $425 million available to be drawn until August 19, 2020. The maturity date of the loans under the Amended 2017 Margin Loan Agreement is August 24, 2021 (except for any incremental loans incurred thereunder to the extent SPV and the incremental lenders agree to a later maturity date). Borrowings under the Amended 2017 Margin Loan Agreement bear interest at the three-month LIBOR rate plus a per annum spread of 1.5%, unless it is unlawful for the applicable lender to fund or maintain loans based on LIBOR or there are material restrictions on the applicable lender to do so, in which case borrowings under the Amended 2017 Margin Loan Agreement will either (a) bear interest at 0.5% plus the higher of (i) the federal funds rate plus ½ of 1% The Amended 2017 Margin Loan Agreement contains various affirmative and negative covenants that restrict the activities of SPV (and, in some cases, the Company and its subsidiaries with respect to shares of Charter owned by the Company and its subsidiaries). The Amended 2017 Margin Loan Agreement does not include any financial covenants. The Amended 2017 Margin Loan Agreement also contains restrictions related to additional indebtedness and events of default customary for margin loans of this type. SPV’s obligations under the Amended 2017 Margin Loan Agreement are secured by first priority liens on a portion of the Company’s ownership interest in Charter, sufficient for SPV to meet the loan to value requirements under the Amended 2017 Margin Loan Agreement. The Amended 2017 Margin Loan Agreement indicates that no lender party shall have any voting rights with respect to the shares transferred, except to the extent that a lender party buys any shares in a sale or other disposition made pursuant to the terms of the loan agreements. As

Income Taxes

Income Taxes	12 Months Ended
Income Taxes	Dec. 31, 2019
Income Taxes
Income Taxes	(7) Income Taxes On December 22, 2017, the U.S. government enacted the Tax Act. The Tax Act made broad and complex changes to the U.S. tax code, the most significant of which was a reduction to the U.S. federal corporate tax rate from 35 percent to 21 percent. The Company reflected the income tax effects of the Tax Act for which the accounting was known as of December 31, 2017. As of December 31, 2018, the Company had completed its analysis of the tax effects of the Tax Act. Income tax benefit (expense) consists of: Years ended December 31, 2019 2018 2017 amounts in thousands Current: Federal $ — — (11) State and local (2) (355) (84) (2) (355) (95) Deferred: Federal (30,841) (17,501) (301,837) State and local (7,099) (4,068) (115,001) (37,940) (21,569) (416,838) Income tax benefit (expense) $ (37,942) (21,924) (416,933) Income tax benefit (expense) differs from the amounts computed by applying the applicable U.S. federal income tax rate of 21%in 2019 and 2018 and 35% in 2017 as a result of the following: Years ended December 31, 2019 2018 2017 amounts in thousands Computed expected tax benefit (expense) $ (32,583) (19,294) (857,710) State and local taxes, net of federal income taxes (5,414) (3,831) (74,805) Change in valuation allowance (249) 380 (1,208) Change in tax rate - other 18 (27) — Change in tax rate - U.S. tax reform — — 515,773 Derivative instrument 246 768 1,084 Other 40 80 (67) Income tax (expense) benefit $ (37,942) (21,924) (416,933) For the year ended December 31, 2019, the significant reconciling item, as noted in the table above, is the result of state income taxes. For the year ended December 31, 2018, the significant reconciling items, as noted in the table above, are the result of state income taxes, partially offset by unrealized gains attributable to the Company’s own stock which is not recognized for tax purposes. For the year ended December 31, 2017, the significant reconciling items, as noted in the table above, are the result of the effect of the change in the U.S. federal corporate tax rate from 35% to 21% on deferred taxes and the effect of state income taxes. The Company recorded a discrete net tax benefit of $516 million in the period ending December 31, 2017. This net benefit primarily consisted of a net benefit for the corporate rate reduction. The tax effects of temporary differences and tax attributes that give rise to significant portions of the deferred income tax assets and deferred income tax liabilities are presented below: December 31, 2019 2018 amounts in thousands Deferred tax assets: Tax loss and tax credit carryforwards $ 66,329 56,056 Accrued stock-based compensation 7,969 5,571 Deferred revenue 1,562 1,430 Other 114 44 Total deferred tax assets 75,974 63,101 Less: valuation allowance (8,021) (7,773) Net deferred tax assets 67,953 55,328 Deferred tax liabilities: Investments (1,067,492) (1,020,869) Intangible assets (46) (261) Other (74) (27) Total deferred tax liabilities (1,067,612) (1,021,157) Net deferred tax asset (liability) $ (999,659) (965,829) The Company’s valuation allowance increased $0.2 million in 2019, which affected tax expense during the year ended December 31, 2019. At December 31, 2019, the Company had a deferred tax liability on investments of $1,067.5 million due to its share of earnings in its equity investment in Charter. At December 31, 2019, Liberty Broadband had federal and state net operating losses, capital loss carryforwards, interest expense carryforwards and tax credit carryforwards for income tax purposes aggregating $66.3 million (on a tax effected basis). Of the $66.3 million, $17.1 million are carryforwards with no expiration. The remaining carryforwards expire at certain future dates. These carryforwards are expected to be utilized prior to expiration, except for $8.0 million which based on current projections, may expire unused and accordingly are subject to a valuation allowance. The carryforwards that are expected to be utilized will begin to expire in 2020. As of December 31, 2019, the Company had not recorded tax reserves related to unrecognized tax benefits for uncertain tax positions. As of December 31, 2019, the IRS has completed its examination of Liberty Broadband’s 2016, 2017 and 2018 tax years. Liberty Broadband’s 2019 tax year is being examined as part of the IRS’s Compliance Assurance Process “CAP” program. Because Liberty Broadband’s ownership of Charter is less than the required 80%, Charter is not consolidated with Liberty Broadband for federal income tax purposes.

Stockholders' Equity

Stockholders' Equity	12 Months Ended
Stockholders' Equity	Dec. 31, 2019
Stockholders' Equity
Stockholders' Equity	(8) Stockholders' Equity In the Broadband Spin-Off, record holders of Liberty Series A, Series B and Series C common stock received one In addition, following the completion of the Broadband Spin-Off, on December 10, 2014, stockholders received a subscription right to acquire one common stock they held as of the rights record date. Accordingly, 17,277,224 shares of Series C common stock were issued to those rightsholders exercising basic and, as applicable, oversubscription privileges. The subscription rights were issued to raise capital for general corporate purposes of Liberty Broadband. In connection with the Time Warner Cable Merger in May 2016, Liberty Broadband funded its purchase of shares of Charter Class A common stock using proceeds of $4.4 billion related to subscriptions for approximately 78.3 million newly issued shares of Liberty Broadband Series C common stock, par value $0.01 per share (the “Series C Shares”), at a price per share of $56.23. The purchasers of the Series C Shares were Liberty Interactive through its Liberty Ventures Group (approximately 42.7 million shares) and certain other third party investors, which all invested on substantially similar terms. The Liberty Ventures Group was later attributed to GCI Liberty, Inc. in a split-off transaction, including its interest in Series C Shares of the Company. As a result of the issuance of the Series C Shares in connection with the Transactions, GCI Liberty, Inc.’s non-voting economic ownership in Liberty Broadband was 23.5% as of December 31, 2019. The Company had an outstanding zero-strike call option on 704,908 Series C Shares at December 31, 2016, which expired in March 2017. The Company prepaid a premium of $47.9 million in December 2016. Liberty Broadband exercised its option to settle the contract in cash in March 2017 for cash proceeds of $50.0 million. The Company entered into another zero-strike call option on 527,156 shares of Liberty Broadband Series C common stock and prepaid a premium of $47.7 million in October 2017. Upon expiration of the contract in December 2017, the Company physically settled the contract by purchasing 527,156 shares of Liberty Broadband Series C common stock at a price of $90.54 per share. As of December 31, 2018, the Company had no zero-strike call options outstanding. In September 2019, the Company entered into a zero-strike call option on 460,675 shares of Liberty Broadband Series C common stock and prepaid a premium of $46.3 million. Upon expiration of the contract in December 2019, the Company exercised its option to settle the contract in cash for proceeds of $47.5 million. As of December 31, 2019, the Company had no zero-strike call options outstanding. The Company accounted for the zero-strike call option as a financial instrument asset due to its settlement provisions. Accordingly, changes in the fair value of the asset are included in realized and unrealized gains (losses) on financial instruments in the accompanying statement of operations. Preferred Stock Liberty Broadband's preferred stock is issuable, from time to time, with such designations, preferences and relative participating, optional or other rights, qualifications, limitations or restrictions thereof, as shall be stated and expressed in a resolution or resolutions providing for the issue of such preferred stock adopted by Liberty Broadband's board of directors. As of December 31, 2019, no shares of preferred stock were issued. Common Stock Liberty Broadband's Series A common stock has one vote per share, Liberty Broadband's Series B common stock has ten votes per share and Liberty Broadband’s Series C common stock has no votes per share (except as otherwise required by applicable law). Each share of the Series B common stock is exchangeable at the option of the holder for one share of Series A common stock. All series of our common stock participate on an equal basis with respect to dividends and distributions. As of December 31, 2019, there were 4 thousand shares of Series A and 1.9 million shares of Series C common stock reserved for issuance under exercise privileges of outstanding stock options.

Stock-Based Compensation

Stock-Based Compensation	12 Months Ended
Stock-Based Compensation	Dec. 31, 2019
Stock-Based Compensation
Stock-Based Compensation	(9) Stock-Based Compensation Included in the accompanying consolidated statements of operations are the following amounts of stock-based compensation for the years ended December 31, 2019, 2018 and 2017 (amounts in thousands). December 31, 2019 2018 2017 Operating expense $ 113 108 178 Selling, general and administrative 10,398 5,599 5,114 $ 10,511 5,707 5,292 Liberty Broadband - Incentive Plans Pursuant to the Liberty Broadband 2019 Omnibus Incentive Plan, the Company may grant Awards to be made in respect of a maximum of 6.0 million shares of Liberty Broadband common stock. Awards generally vest over 1-5 years and have a term of 7-10 years. Liberty Broadband issues new shares upon exercise of equity awards. Liberty Broadband – Grants of Stock Options During the year ended December 31, 2019, Liberty Broadband granted 302 thousand options to purchase shares of Series C Liberty Broadband common stock and 25 thousand performance-based restricted stock units (“RSUs”) of Series C Liberty Broadband common stock to our CEO. Such options had a weighted average grant-date fair value (“GDFV”) of $31.12 per share. The RSUs had a GDFV of $88.99 per share at the time they were granted. The options mainly vest on December 31, 2023 and the RSUs cliff vest one year from the month of grant, subject to satisfaction of certain performance objectives. Performance objectives, which are subjective, are considered in determining the timing and amount of the compensation expense recognized. When the satisfaction of the performance objectives becomes probable, the Company records compensation expense. The probability of satisfying the performance objectives is assessed at the end of each reporting period. This grant includes the first upfront option grant related to the CEO’s new employment agreement. See discussion in note 1 regarding the new compensation agreement with the Company’s CEO. Also during the year ended December 31, 2019, Liberty Broadband granted to its employees 41 thousand options to purchase shares of Series C Liberty Broadband common stock. Such options had a weighted average GDFV of $32.21 and vest between three During the years ended December 31, 2019, 2018 and 2017, Liberty Broadband granted 8 thousand, 10 thousand and 16 thousand options, respectively, to purchase shares of Series C Liberty Broadband common stock to its non-employee directors with a weighted average GDFV of $31.18, $24.04 and $22.68 per share, respectively, which cliff vest over a one year vesting period. There were no options to purchase shares of Series A common stock granted during 2019. The Company has calculated the GDFV for all of its equity classified awards and any subsequent remeasurement of its liability classified awards using the Black-Scholes Model. The Company estimates the expected term of the Awards based on historical exercise and forfeiture data. For grants made in 2019, 2018 and 2017, the range of expected terms was 5.3 to 6.3 years. The volatility used in the calculation for Awards is based on the historical volatility of Liberty Broadband common stock. For grants made in 2019, 2018 and 2017, the range of volatilities was 24.4% to 25.7%. The Company uses a zero dividend rate and the risk-free rate for Treasury Bonds with a term similar to that of the subject option. Liberty Broadband – Outstanding Awards The following tables present the number and weighted average exercise price (“WAEP”) of Awards to purchase Liberty Broadband common stock granted to certain officers, employees and directors of the Company, as well as the weighted average remaining life and aggregate intrinsic value of the Awards. Weighted average remaining Aggregate contractual intrinsic Series A WAEP life value (in thousands) (in years) (in millions) Outstanding at January 1, 2019 393 $ 33.31 Granted — $ — Exercised (389) $ 33.16 Forfeited/Cancelled — $ — Outstanding at December 31, 2019 4 $ 47.92 2.0 $ — Exercisable at December 31, 2019 4 $ 47.92 2.0 $ — Weighted average remaining Aggregate contractual intrinsic Series C WAEP life value (in thousands) (in years) (in millions) Outstanding at January 1, 2019 2,356 $ 43.77 Granted 351 $ 117.52 Exercised (775) $ 33.14 Forfeited/Cancelled — $ — Outstanding at December 31, 2019 1,932 $ 61.43 5.3 $ 124 Exercisable at December 31, 2019 1,622 $ 50.00 4.9 $ 123 The Company had no outstanding Series B options during 2019. As of December 31, 2019, the total unrecognized compensation cost related to unvested Liberty Broadband Awards was approximately $9.7 million. Such amount will be recognized in the Company’s consolidated statements of operations over a weighted average period of approximately 2.5 years. As of December 31, 2019, Liberty Broadband reserved 1.9 million shares of Series A and Series C common stock for issuance under exercise privileges of outstanding stock Awards. Liberty Broadband – Exercises The aggregate intrinsic value of all options exercised during the years ended December 31, 2019, 2018 and 2017 was $91.7 million, $3.0 million and $8.1 million, respectively. Liberty Broadband – Restricted Shares The aggregate fair value of all Series A and Series C restricted shares of Liberty Broadband common stock that vested during the years ended December 31, 2019, 2018 and 2017 was $2.6 million, $112 thousand and $116 thousand, respectively. As of December 31, 2019, the Company had approximately 47 thousand unvested restricted shares of Series A and Series C Liberty Broadband common stock held by certain directors, officers and employees of the Company with a weighted average GDFV of $84.85 per share. Skyhook equity incentive plans Long-Term Incentive Plans Skyhook has a long-term incentive plan which provides for the granting of PARs and PSUs to employees, directors, and consultants of Skyhook that is not significant to Liberty Broadband. As of December 31, 2019 and 2018, $1.2 million and $1.1 million, respectively, are included in other liabilities for the fair value (Level 2) of the Company's LTIP obligations.

Employee Benefit Plans

Employee Benefit Plans	12 Months Ended
Employee Benefit Plans	Dec. 31, 2019
Employee Benefit Plans
Employee Benefit Plans	(10) Employee Benefit Plans Employees of Skyhook participate in a separate defined-contribution plan administered by Skyhook (the “Skyhook 401(k) Plan”). The Skyhook 401(k) Plan provides for employees to make contributions by salary reductions for investment in several mutual funds and/or a self-directed brokerage account pursuant to Section 401(k) of the Internal Revenue Code. Pursuant to the existing Skyhook 401(k) Plan, Skyhook employees are eligible for 100% matching contributions for each dollar contributed up to 10%, subject to certain limitations. For the years ended December 31, 2019, 2018 and 2017, Skyhook contributed approximately $0.8 million, $0.8 million and $1.0 million, respectively.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
Commitments and Contingencies	Dec. 31, 2019
Commitments and Contingencies
Commitments and Contingencies	(11) Commitments and Contingencies Leases Skyhook leases various properties under operating leases expiring at various times through 2022. The aggregate minimum annual lease payments under the noncancelable operating leases as of December 31, 2019 are as follows (amounts in thousands): Operating Leases 2020 $ 630 2021 432 2022 440 Total lease payments 1,502 Less: imputed interest 144 Total lease liabilities $ 1,358 Skyhook’s two principal facilities are under lease through December 2020 and December 2022, respectively. Total operating lease cost for the year ended December 31, 2019 was $0.7 million. Total rental expense for the years ended December 31, 2018 and 2017 was $1.0 million and $1.1 million, respectively. General Litigation In the ordinary course of business, the Company and its consolidated subsidiaries are parties to legal proceedings and claims involving alleged infringement of third-party intellectual property rights, defamation, and other claims. Although it is reasonably possible that the Company may incur losses upon conclusion of such matters, an estimate of any loss or range of loss cannot be made. In the opinion of management, it is expected that amounts, if any, which may be required to satisfy such contingencies will not be material in relation to the accompanying consolidated financial statements. Off-Balance Sheet Arrangements Liberty Broadband did not have any off-balance sheet arrangements that have, or are reasonably likely to have, a current or future effect on the Company’s financial condition, results of operations, liquidity, capital expenditures or capital resources.

Segment Information

Segment Information	12 Months Ended
Segment Information	Dec. 31, 2019
Segment Information
Segment Information	(12) Segment Information Liberty Broadband identifies its reportable segments as (A) those consolidated companies that represent 10% or more of its consolidated annual revenue, annual Adjusted OIBDA or total assets and (B) those equity method affiliates whose share of earnings or losses represent 10% or more of Liberty Broadband’s annual pre-tax earnings (losses). Liberty Broadband evaluates performance and makes decisions about allocating resources to its operating segments based on financial measures such as revenue and Adjusted OIBDA. In addition, Liberty Broadband reviews nonfinancial measures such as subscriber growth. For segment reporting purposes, Liberty Broadband defines Adjusted OIBDA as revenue less operating expenses and selling, general and administrative expenses (excluding stock-based compensation). Liberty Broadband believes this measure is an important indicator of the operational strength and performance of its businesses by identifying those items that are not directly a reflection of each business’ performance or indicative of ongoing business trends. In addition, this measure allows management to view operating results and perform analytical comparisons and benchmarking between businesses and identify strategies to improve performance. This measure of performance excludes depreciation and amortization, stock based compensation, separately reported litigation settlements and restructuring and impairment charges that are included in the measurement of operating income pursuant to GAAP. Accordingly, Adjusted OIBDA should be considered in addition to, but not as a substitute for, operating income, net earnings, cash flow provided by operating activities and other measures of financial performance prepared in accordance with GAAP. Liberty Broadband generally accounts for intersegment sales and transfers as if the sales or transfers were to third parties, that is, at current prices. For the year ended December 31, 2019, Liberty Broadband has identified the following consolidated company and equity method investment as its reportable segments: ● Skyhook— a wholly owned subsidiary of the Company that provides the Precision Location Solution (a location determination service) and Geospatial Insights product (a location intelligence and data insights service). ● Charter—an equity method investment that is one of the largest providers of cable services in the United States, offering a variety of entertainment, information and communications solutions to residential and commercial customers. Liberty Broadband’s operating segments are strategic business units that offer different products and services. They are managed separately because each segment requires different technologies, distribution channels and marketing strategies. The accounting policies of the segments that are also consolidated companies are the same as those described in the Company’s summary of significant accounting policies in the Company’s annual financial statements. We have included amounts attributable to Charter in the tables below. Although Liberty Broadband owns less than 100% of the outstanding shares of Charter, 100% of the Charter amounts are included in the schedule below and subsequently eliminated in order to reconcile the account totals to the Liberty Broadband consolidated financial statements. Performance Measures Years ended December 31, 2019 2018 2017 Adjusted Adjusted Adjusted Revenue OIBDA Revenue OIBDA Revenue OIBDA amounts in thousands Skyhook $ 14,859 (4,704) 22,256 3,161 13,092 (9,496) Charter 45,764,000 16,752,000 43,634,000 15,824,000 41,581,000 14,955,000 Corporate and other — (12,187) — (6,689) — (6,920) 45,778,859 16,735,109 43,656,256 15,820,472 41,594,092 14,938,584 Eliminate equity method affiliate (45,764,000) (16,752,000) (43,634,000) (15,824,000) (41,581,000) (14,955,000) Consolidated Liberty Broadband $ 14,859 (16,891) 22,256 (3,528) 13,092 (16,416) Other Information December 31, 2019 December 31, 2018 Total Investments Capital Total Investments Capital assets in affiliates expenditures assets in affiliates expenditures amounts in thousands Skyhook $ 18,145 — 500 21,763 — 41 Charter 148,188,000 — 7,195,000 146,130,000 — 9,125,000 Corporate and other 12,238,197 12,194,674 — 12,076,674 12,004,376 — 160,444,342 12,194,674 7,195,500 158,228,437 12,004,376 9,125,041 Eliminate equity method affiliate (148,188,000) — (7,195,000) (146,130,000) — (9,125,000) Consolidated Liberty Broadband $ 12,256,342 12,194,674 500 12,098,437 12,004,376 41 Revenue by Geographic Area Years ended December 31, 2019 2018 2017 amounts in thousands United States $ 12,507 19,946 10,315 Other countries 2,352 2,310 2,777 $ 14,859 22,256 13,092 The following table provides a reconciliation of Adjusted OIBDA to Operating income (loss) and earnings (loss) before income taxes: Years ended December 31, 2019 2018 2017 amounts in thousands Consolidated segment Adjusted OIBDA $ (16,891) (3,528) (16,416) Stock-based compensation (10,511) (5,707) (5,292) Depreciation and amortization (1,875) (2,779) (3,770) Operating income (loss) (29,277) (12,014) (25,478) Interest expense (25,166) (23,302) (19,570) Share of earnings (loss) of affiliates, net 286,401 166,146 2,508,991 Gain (loss) on dilution of investment in affiliate (79,329) (43,575) (17,872) Realized and unrealized gains (losses) on financial instruments, net 1,170 3,659 3,098 Other, net 1,359 963 1,431 Earnings (loss) before income taxes $ 155,158 91,877 2,450,600

Quarterly Financial Information

Quarterly Financial Information (Unaudited)	12 Months Ended
Quarterly Financial Information (Unaudited)	Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract]
Quarterly Financial Information (Unaudited)	(13) Quarterly Financial Information (Unaudited) 1 st 2 nd 3 rd 4 th Quarter Quarter Quarter Quarter amounts in thousands, except per share amounts 2019: Revenue $ 3,458 3,747 3,713 3,941 Operating income (loss) $ (6,201) (7,166) (7,588) (8,322) Net earnings (loss) attributable to Liberty Broadband Corporation Series A, Series B and Series C stockholders $ (14,301) 12,052 27,496 91,969 Basic earnings (loss) attributable to Liberty Broadband Corporation Series A, Series B and Series C stockholders per common share $ (0.08) 0.07 0.15 0.51 Diluted earnings (loss) attributable to Liberty Broadband Corporation Series A, Series B and Series C stockholders per common share $ (0.08) 0.07 0.15 0.50 1 st 2 nd 3 rd 4 th Quarter Quarter Quarter Quarter amounts in thousands, except per share amounts 2018: Revenue $ 11,791 3,371 3,518 3,576 Operating income (loss) $ 2,246 (5,071) (4,096) (5,093) Net earnings (loss) attributable to Liberty Broadband Corporation Series A, Series B and Series C stockholders $ (15,070) 10,580 59,639 14,804 Basic earnings (loss) attributable to Liberty Broadband Corporation Series A, Series B and Series C stockholders per common share $ (0.08) 0.06 0.33 0.08 Diluted earnings (loss) attributable to Liberty Broadband Corporation Series A, Series B and Series C stockholders per common share $ (0.08) 0.06 0.33 0.08

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
Summary of Significant Accounting Policies (Policies)	Dec. 31, 2019
Summary of Significant Accounting Policies
Cash and Cash Equivalents	Cash and Cash Equivalents Cash consists of cash deposits held in global financial institutions. Cash equivalents consist of highly liquid investments with original maturities of three months or less at the time of acquisition. Cash that has restrictions upon its usage has been excluded from cash and cash equivalents.
Derivative Instruments and Hedging Activities	Derivative Instruments and Hedging Activities All of the Company’s derivatives, whether designated in hedging relationships or not, are recorded on the balance sheet at fair value. None of the Company’s derivatives are currently designated as hedges, as a result, changes in the fair value of the derivative are recognized in earnings. The fair value of certain of the Company’s derivative instruments are estimated using the Black Scholes Merton option-pricing model (“Black-Scholes model”). The Black-Scholes model incorporates a number of variables in determining such fair values, including expected volatility of the underlying security and an appropriate discount rate. The Company obtained volatility rates from pricing services based on the expected volatility of the underlying security over the remaining term of the derivative instrument. A discount rate was obtained at the inception of the derivative instrument and updated each reporting period, based on the Company’s estimate of the discount rate at which it could currently settle the derivative instrument. The Company considered its own credit risk as well as the credit risk of its counterparties in estimating the discount rate. Management judgment was required in estimating the Black-Scholes variables. The Company had no outstanding derivative instruments at December 31, 2019 or December 31, 2018.
Equity Method Investments	Investment in Equity Method Affiliate For those investments in affiliates in which the Company has the ability to exercise significant influence, the equity method of accounting is used. Under this method, the investment, originally recorded at cost, is adjusted to recognize the Company’s share of net earnings or losses of the affiliate as they occur rather than as dividends or other distributions are received. Losses are limited to the extent of the Company’s investment in, advances to and commitments for the investee. The Company determines the difference between the purchase price of the investee and the underlying equity which results in an excess basis in the investment. This excess basis is allocated to the underlying assets and liabilities of the Company’s investee through a purchase accounting exercise and is allocated within memo accounts used for equity accounting purposes. Depending on the applicable underlying assets, these amounts are either amortized over the applicable useful lives or determined to be indefinite lived. Changes in the Company’s proportionate share of the underlying equity of an equity method investee, which result from the issuance of additional equity securities by such equity investee, are recognized in the statement of operations through the gain (loss) on dilution of investment in affiliate line item. We periodically evaluate our equity method investment to determine if decreases in fair value below our cost basis are other than temporary. If a decline in fair value is determined to be other than temporary, we are required to reflect such decline in our consolidated statement of operations. Other than temporary declines in fair value of our equity method investment would be included in share of earnings (losses) of affiliate in our consolidated statement of operations. The primary factors we consider in our determination of whether declines in fair value are other than temporary are the length of time that the fair value of the investment is below our carrying value; the severity of the decline; and the financial condition, operating performance and near term prospects of the investee. In addition, we consider the reason for the decline in fair value, be it general market conditions, industry specific or investee specific; analysts' ratings and estimates of 12 month share price targets for the investee; changes in stock price or valuation subsequent to the balance sheet date; and our intent and ability to hold the investment for a period of time sufficient to allow for a recovery in fair value. Fair value of our publicly traded cost and equity investments is based on the market prices of the investments at the balance sheet date. Impairments are calculated as the difference between our carrying value and our estimate of fair value. As our assessment of the fair value of our investments and any resulting impairment losses and the timing of when to recognize such charges requires judgment and includes estimates and assumptions, actual results could differ materially from our estimates and assumptions. As Liberty Broadband does not control the decision making process or business management practices of our affiliate accounted for using the equity method, Liberty Broadband relies on management of its affiliate to provide it with accurate financial information prepared in accordance with GAAP that the Company uses in the application of the equity method. In addition, Liberty Broadband relies on the audit reports that are provided by the affiliate’s independent auditors on the financial statements of such affiliate. The Company is not aware, however, of any errors in or possible misstatements of the financial information provided by its equity affiliate that would have a material effect on Liberty Broadband’s consolidated financial statements. See note 5 for additional discussion regarding our investment in Charter and the Transactions that occurred during the second quarter of 2016.
Foreign Currency Translation and Transaction Gains and Losses	Foreign Currency Translation and Transaction Gains and Losses The functional currency of the Company is the United States (“U.S.”) dollar. Transactions denominated in currencies other than the functional currency are recorded based on exchange rates at the time such transactions arise. Subsequent changes in exchange rates result in transaction gains and losses which are reflected in the accompanying consolidated statements of operations and comprehensive earnings (loss) as unrealized (based on the applicable period end exchange rate) or realized upon settlement of the transactions.
Revenue Recognition	Revenue Recognition As of January 1, 2018, the Company adopted the Accounting Standards Updates (“ASU”) amending revenue recognition guidance using the modified retrospective method for all contracts reflecting the aggregate effect of modifications prior to the date of adoption. Results for reporting periods beginning after January 1, 2018 are presented under the new guidance, while prior period amounts were not adjusted and continue to be reported under the accounting standards in effect for those periods. Upon adoption, we recognized a net cumulative effect of applying the new revenue guidance as a net increase to the opening balance of retained earnings of $1.2 million, as well as an increase to other current assets of $0.3 million, an increase to deferred income tax liabilities of $0.4 million and a decrease to deferred revenue and other current liabilities of $1.3 million, primarily due to changes in the timing of revenue recognition. The impact of the new accounting guidance to our consolidated statement of operations was not meaningful for the years ended December 31, 2019 and 2018, and we do not expect it to be meaningful going forward. Skyhook earns revenue from the sale and integration of its Precision Location Solution (including the licensing of software and data components that make up that solution) and the licensing of Geospatial Insights data. In addition, Skyhook earns revenue through entering into licensing agreements with companies to utilize its underlying intellectual property. Revenue is recognized upon transfer of control of promised products or services to its customers in an amount that reflects the consideration expected to be received in exchange for those products and services. Skyhook sells its Precision Location Solution and Geospatial Insights data via fixed fee, usage basis or revenue share licensing arrangements. Revenue for fixed fee arrangements is recognized on a straight-line basis over the performance period. Revenue for usage based contracts or revenue share arrangements is recognized upon transfer of the service to its customers. Contracts with customers often include multiple products and services, which in general are not distinct within the context of the contract. Transaction prices of individual products and services are not allocated to specific performance obligations and are recognized ratably. Skyhook recognizes fees received from intellectual property licensing at the inception of a license term for perpetual licenses when there are no ongoing performance obligations. Revenue recognition is deferred when there are ongoing performance obligations. In such circumstances, revenue would be allocated to the performance obligation and recognized upon the transfer of control of the promised product or service. Deferred Revenue. At January 1, 2019, deferred revenue liabilities consisted of $4.3 million and $1.9 million, included in deferred revenue and other current liabilities and other liabilities, respectively. Of this $6.2 million that was recorded as deferred revenue, $4.3 million was recognized as revenue during the year ended December 31, 2019. At December 31, 2019, the related balance consisted of $4.8 million and $1.8 million, included in deferred revenue and other current liabilities, and other liabilities, respectively. Of this $6.6 million that was recorded as deferred revenue, we expect to recognize approximately 97% over the next three years . At January 1, 2018, deferred revenue liabilities consisted of $4.5 million and $2.3 million, included in deferred revenue and other current liabilities, and other liabilities, respectively. Of this $6.8 million that was recorded as deferred revenue, $4.2 million was recognized as revenue during the year ended December 31, 2018. At December 31, 2018, the related balance consisted of $4.3 million and $1.9 million, included in deferred revenue and other current liabilities, and other liabilities, respectively. Accounting Policies Elected. Practical Expedients Utilized. The Company has elected to apply the new revenue guidance only to those contracts that were not completed contracts as of December 31, 2017 and considered contract modifications that occurred prior to January 1, 2018 as combined with the original contract. Subsequent to January 1, 2018, the Company considers each modification separately in accordance with the new guidance. Significant Judgments.
StockBased Compensation	Stock-Based Compensation As more fully described in note 9, Liberty Broadband has granted to its directors, employees and employees of certain of its subsidiaries, restricted stock and stock options to purchase shares of Liberty Broadband common stock (collectively, “Awards”). Liberty Broadband measures the cost of employee services received in exchange for an equity classified Award (such as stock options and restricted stock) based on the grant-date fair value of the Award, and recognizes that cost over the period during which the employee is required to provide service (usually the vesting period of the Award). Liberty Broadband measures the cost of employee services received in exchange for a liability classified Award based on the current fair value of the Award, and remeasures the fair value of the Award at each reporting date. Certain outstanding awards of Liberty were assumed by Liberty Broadband at the time of the Broadband Spin-Off. Additionally, Skyhook sponsors long-term incentive plans (“LTIPs”) which provide for the granting of phantom stock units (“PSUs”), and phantom stock appreciation rights (“PARs”) to employees, directors, and consultants of Skyhook. Skyhook measures the cost of employee services received in exchange for awards of equity instruments based on the grant-date fair value of the award and recognizes that cost ratably over the period during which the employee is required to provide service (usually the vesting period of the award). Skyhook measures the cost of employee services received in exchange for awards of liability instruments (such as PSUs and PARs that will be settled in cash) based on the current fair value of the award, and remeasures the fair value of the award at each reporting date. The consolidated statements of operations includes stock-based compensation related to Skyhook awards.
Income taxes	Income Taxes The Company accounts for income taxes using the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying value amounts and income tax bases of assets and liabilities and the expected benefits of utilizing net operating loss and tax credit carryforwards. The deferred tax assets and liabilities are calculated using enacted tax rates in effect for each taxing jurisdiction in which the Company operates for the year in which those temporary differences are expected to be recovered or settled. Net deferred tax assets are then reduced by a valuation allowance if the Company believes it more likely than not that such net deferred tax assets will not be realized. We consider all relevant factors when assessing the likelihood of future realization of our deferred tax assets, including our recent earnings experience by jurisdiction, expectations of future taxable income, and the carryforward periods available to us for tax reporting purposes, as well as assessing available tax planning strategies. The effect on deferred tax assets and liabilities of an enacted change in tax rates is recognized in income in the period that includes the enactment date. Due to inherent complexities arising from the nature of our businesses, future changes in income tax law, tax sharing agreements or variances between our actual and anticipated operating results, we make certain judgments and estimates. Therefore, actual income taxes could materially vary from these estimates. When the tax law requires interest to be paid on an underpayment of income taxes, the Company recognizes interest expense from the first period the interest would begin accruing according to the relevant tax law. Such interest expense is included in interest expense in the accompanying consolidated statements of operations. Any accrual of penalties related to underpayment of income taxes on uncertain tax positions is included in other income (expense) in the accompanying consolidated statements of operations. We recognize in our consolidated financial statements the impact of a tax position, if that position is more likely than not to be sustained upon an examination, based on the technical merits of the position.
Certain Risks and Concentrations	Certain Risks and Concentrations The Skyhook business is subject to certain risks and concentrations including dependence on relationships with its customers. The Company’s largest customers, that accounted for greater than 10% of revenue, aggregated 58% of total revenue for the year ended December 31, 2019, 66% of total revenue for the year ended December 31, 2018 and 57% for the year ended December 31, 2017.
Contingent Liabilities	Contingent Liabilities Periodically, we review the status of all significant outstanding matters to assess any potential financial exposure. When (i) it is probable that an asset has been impaired or a liability has been incurred and (ii) the amount of the loss can be reasonably estimated, we record the estimated loss in our consolidated statements of operations. We provide disclosure in the notes to the consolidated financial statements for loss contingencies that do not meet both these conditions if there is a reasonable possibility that a loss may have been incurred that would be material to the financial statements. Significant judgment is required to determine the probability that a liability has been incurred and whether such liability is reasonably estimable. We base accruals made on the best information available at the time which can be highly subjective. The final outcome of these matters could vary significantly from the amounts included in the accompanying consolidated financial statements.
Comprehensive Earnings (Loss)	Comprehensive Earnings (Loss) Comprehensive earnings (loss) consists of net earnings (loss), cumulative foreign currency translation adjustments, unrealized gains and losses on available-for-sale securities, net of tax and the Company’s share of the comprehensive earnings (loss) of our equity method affiliate.
Earnings per Share (EPS)	Earnings per Share (EPS) Basic earnings (loss) per common share (“EPS”) is computed by dividing net earnings (loss) by the weighted average number of common shares outstanding for the period. Diluted EPS presents the dilutive effect on a per share basis of potential common shares as if they had been converted at the beginning of the periods presented. Years ended December 31, 2019 2018 2017 number of shares in thousands Basic WASO 181,531 181,325 181,772 Potentially dilutive shares 1,253 1,264 1,374 Diluted WASO 182,784 182,589 183,146 Potential common shares excluded from diluted EPS because their inclusion would be antidilutive for the years ended December 31, 2019, 2018 and 2017 are approximately 309 thousand, 10 thousand and zero, respectively.
Reclasses and adjustments	Reclasses and adjustments Certain prior period amounts have been reclassified for comparability with the current year presentation.
Estimates	Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. The Company considers the application of the equity method of accounting for its affiliates and accounting for income taxes to be its most significant estimates.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
Summary of Significant Accounting Policies (Tables)	Dec. 31, 2019
Summary of Significant Accounting Policies
Schedule of weighted average number of shares	Years ended December 31, 2019 2018 2017 number of shares in thousands Basic WASO 181,531 181,325 181,772 Potentially dilutive shares 1,253 1,264 1,374 Diluted WASO 182,784 182,589 183,146

Assets and Liabilities Measur_2

Assets and Liabilities Measured at Fair Value (Tables)	12 Months Ended
Assets and Liabilities Measured at Fair Value (Tables)	Dec. 31, 2019
Assets and Liabilities Measured at Fair Value
Schedule of assets and liabilities measured at fair value	December 31, 2019 December 31, 2018 Quoted prices Significant Quoted prices Significant in active other in active other markets for observable markets for observable identical assets inputs identical assets inputs Description Total (Level 1) (Level 2) Total (Level 1) (Level 2) amounts in thousands Cash equivalents $ 48,174 48,174 — 67,329 67,329 —
Schedule of realized and unrealized gains (losses) on financial instruments	Years ended December 31, 2019 2018 2017 (amounts in thousands) Derivative instruments (1) 1,170 3,659 3,098 $ 1,170 3,659 3,098 (1) See note 8 for a summary of the Company’s zero-strike call option activity .

Investment in Charter Account_2

Investment in Charter Accounted for Using the Equity Method (Tables)	12 Months Ended
	Dec. 31, 2019
Investment in Charter Accounted for Using the Equity Method
Schedule of allocation of excess basis within memo accounts used for equity accounting purposes	has been allocated within memo accounts used for equity method accounting purposes as follows (amounts in millions): Years ended December 31, 2019 2018 Property and equipment $ 225 328 Customer relationships 1,043 721 Franchise fees 1,996 1,821 Trademarks 29 29 Goodwill 1,630 1,202 Debt (9) (105) Deferred income tax liability (817) (698) $ 4,097 3,298
Summary of financial information for Charter	Consolidated Balance Sheets December 31, December 31, 2019 2018 amounts in millions Current assets $ 6,537 2,944 Property and equipment, net 34,591 35,126 Goodwill 29,554 29,554 Intangible assets 74,775 76,884 Other assets 2,731 1,622 Total assets $ 148,188 146,130 Current liabilities $ 12,385 12,095 Deferred income taxes 17,711 17,389 Long-term debt 75,578 69,537 Other liabilities 3,703 2,837 Equity 38,811 44,272 Total liabilities and equity $ 148,188 146,130 Consolidated Statements of Operations Years ended December 31, 2019 2018 2017 amounts in millions Revenue $ 45,764 43,634 41,581 Cost and expenses: Operating costs and expenses (excluding depreciation and amortization) 29,224 27,860 26,541 Depreciation and amortization 9,926 10,318 10,588 Other operating expenses, net 103 235 346 39,253 38,413 37,475 Operating income 6,511 5,221 4,106 Interest expense, net (3,797) (3,540) (3,090) Loss on extinguishment of debt (25) — (40) Other income (expense), net (258) 5 52 Income tax (expense) benefit (439) (180) 9,087 Net earnings (loss) 1,992 1,506 10,115 Less: Net income attributable to noncontrolling interests (324) (276) (220) Net Income (loss) attributable to Charter shareholders $ 1,668 1,230 9,895

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
Income Taxes (Tables)	Dec. 31, 2019
Income Taxes
Schedule of income tax expense	Years ended December 31, 2019 2018 2017 amounts in thousands Current: Federal $ — — (11) State and local (2) (355) (84) (2) (355) (95) Deferred: Federal (30,841) (17,501) (301,837) State and local (7,099) (4,068) (115,001) (37,940) (21,569) (416,838) Income tax benefit (expense) $ (37,942) (21,924) (416,933)
Schedule of income tax expense reconciliation to the effective tax rate	Years ended December 31, 2019 2018 2017 amounts in thousands Computed expected tax benefit (expense) $ (32,583) (19,294) (857,710) State and local taxes, net of federal income taxes (5,414) (3,831) (74,805) Change in valuation allowance (249) 380 (1,208) Change in tax rate - other 18 (27) — Change in tax rate - U.S. tax reform — — 515,773 Derivative instrument 246 768 1,084 Other 40 80 (67) Income tax (expense) benefit $ (37,942) (21,924) (416,933)
Schedule of deferred tax assets and liabilities	December 31, 2019 2018 amounts in thousands Deferred tax assets: Tax loss and tax credit carryforwards $ 66,329 56,056 Accrued stock-based compensation 7,969 5,571 Deferred revenue 1,562 1,430 Other 114 44 Total deferred tax assets 75,974 63,101 Less: valuation allowance (8,021) (7,773) Net deferred tax assets 67,953 55,328 Deferred tax liabilities: Investments (1,067,492) (1,020,869) Intangible assets (46) (261) Other (74) (27) Total deferred tax liabilities (1,067,612) (1,021,157) Net deferred tax asset (liability) $ (999,659) (965,829)

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	12 Months Ended
Stock-Based Compensation (Tables)	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Schedule of stock-based compensation expense	Included in the accompanying consolidated statements of operations are the following amounts of stock-based compensation for the years ended December 31, 2019, 2018 and 2017 (amounts in thousands). December 31, 2019 2018 2017 Operating expense $ 113 108 178 Selling, general and administrative 10,398 5,599 5,114 $ 10,511 5,707 5,292
Series A common stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Schedule of stock awards activity	Weighted average remaining Aggregate contractual intrinsic Series A WAEP life value (in thousands) (in years) (in millions) Outstanding at January 1, 2019 393 $ 33.31 Granted — $ — Exercised (389) $ 33.16 Forfeited/Cancelled — $ — Outstanding at December 31, 2019 4 $ 47.92 2.0 $ — Exercisable at December 31, 2019 4 $ 47.92 2.0 $ —
Series C common stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Schedule of stock awards activity	Weighted average remaining Aggregate contractual intrinsic Series C WAEP life value (in thousands) (in years) (in millions) Outstanding at January 1, 2019 2,356 $ 43.77 Granted 351 $ 117.52 Exercised (775) $ 33.14 Forfeited/Cancelled — $ — Outstanding at December 31, 2019 1,932 $ 61.43 5.3 $ 124 Exercisable at December 31, 2019 1,622 $ 50.00 4.9 $ 123

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
Commitments and Contingencies (Tables)	Dec. 31, 2019
Commitments and Contingencies
Schedule of aggregate minimum annual lease payments	The aggregate minimum annual lease payments under the noncancelable operating leases as of December 31, 2019 are as follows (amounts in thousands): Operating Leases 2020 $ 630 2021 432 2022 440 Total lease payments 1,502 Less: imputed interest 144 Total lease liabilities $ 1,358

Segment Information (Tables)

Segment Information (Tables)	12 Months Ended
Segment Information (Tables)	Dec. 31, 2019
Segment Information
Schedule of performance measures	Performance Measures Years ended December 31, 2019 2018 2017 Adjusted Adjusted Adjusted Revenue OIBDA Revenue OIBDA Revenue OIBDA amounts in thousands Skyhook $ 14,859 (4,704) 22,256 3,161 13,092 (9,496) Charter 45,764,000 16,752,000 43,634,000 15,824,000 41,581,000 14,955,000 Corporate and other — (12,187) — (6,689) — (6,920) 45,778,859 16,735,109 43,656,256 15,820,472 41,594,092 14,938,584 Eliminate equity method affiliate (45,764,000) (16,752,000) (43,634,000) (15,824,000) (41,581,000) (14,955,000) Consolidated Liberty Broadband $ 14,859 (16,891) 22,256 (3,528) 13,092 (16,416)
Schedule of segment reporting information	Other Information December 31, 2019 December 31, 2018 Total Investments Capital Total Investments Capital assets in affiliates expenditures assets in affiliates expenditures amounts in thousands Skyhook $ 18,145 — 500 21,763 — 41 Charter 148,188,000 — 7,195,000 146,130,000 — 9,125,000 Corporate and other 12,238,197 12,194,674 — 12,076,674 12,004,376 — 160,444,342 12,194,674 7,195,500 158,228,437 12,004,376 9,125,041 Eliminate equity method affiliate (148,188,000) — (7,195,000) (146,130,000) — (9,125,000) Consolidated Liberty Broadband $ 12,256,342 12,194,674 500 12,098,437 12,004,376 41
Schedule of revenue by geographic area	Years ended December 31, 2019 2018 2017 amounts in thousands United States $ 12,507 19,946 10,315 Other countries 2,352 2,310 2,777 $ 14,859 22,256 13,092
Schedule of reconciliation of segment Adjusted OIBDA to earnings (loss) before income taxes	Years ended December 31, 2019 2018 2017 amounts in thousands Consolidated segment Adjusted OIBDA $ (16,891) (3,528) (16,416) Stock-based compensation (10,511) (5,707) (5,292) Depreciation and amortization (1,875) (2,779) (3,770) Operating income (loss) (29,277) (12,014) (25,478) Interest expense (25,166) (23,302) (19,570) Share of earnings (loss) of affiliates, net 286,401 166,146 2,508,991 Gain (loss) on dilution of investment in affiliate (79,329) (43,575) (17,872) Realized and unrealized gains (losses) on financial instruments, net 1,170 3,659 3,098 Other, net 1,359 963 1,431 Earnings (loss) before income taxes $ 155,158 91,877 2,450,600

Quarterly Financial Informati_2

Quarterly Financial Information (Unaudited) (Tables)	12 Months Ended
Quarterly Financial Information (Unaudited) (Tables)	Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract]
Schedule of Quarterly Financial Information	1 st 2 nd 3 rd 4 th Quarter Quarter Quarter Quarter amounts in thousands, except per share amounts 2019: Revenue $ 3,458 3,747 3,713 3,941 Operating income (loss) $ (6,201) (7,166) (7,588) (8,322) Net earnings (loss) attributable to Liberty Broadband Corporation Series A, Series B and Series C stockholders $ (14,301) 12,052 27,496 91,969 Basic earnings (loss) attributable to Liberty Broadband Corporation Series A, Series B and Series C stockholders per common share $ (0.08) 0.07 0.15 0.51 Diluted earnings (loss) attributable to Liberty Broadband Corporation Series A, Series B and Series C stockholders per common share $ (0.08) 0.07 0.15 0.50 1 st 2 nd 3 rd 4 th Quarter Quarter Quarter Quarter amounts in thousands, except per share amounts 2018: Revenue $ 11,791 3,371 3,518 3,576 Operating income (loss) $ 2,246 (5,071) (4,096) (5,093) Net earnings (loss) attributable to Liberty Broadband Corporation Series A, Series B and Series C stockholders $ (15,070) 10,580 59,639 14,804 Basic earnings (loss) attributable to Liberty Broadband Corporation Series A, Series B and Series C stockholders per common share $ (0.08) 0.06 0.33 0.08 Diluted earnings (loss) attributable to Liberty Broadband Corporation Series A, Series B and Series C stockholders per common share $ (0.08) 0.06 0.33 0.08

Basis of Presentation (Details)

Basis of Presentation (Details) $ in Millions	May 18, 2016	Dec. 10, 2014	Oct. 29, 2014	Dec. 31, 2019USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Broadband Spin-Off Distribution Ratio			0.25
Charter
Investment control percentage	25.01%
Liberty
Reimbursable amount					$ 54.2	$ 3.5
Liberty \| CEO
CEO compensation allocation percentage				18.00%
Employment agreement term				5 years
Annual base salary				$ 3
One-time cash commitment bonus				5
Annual target cash performance bonus				17
Annual equity awards				17.5
Upfront awards				$ 90
Series C common stock
Subscription rights distribution ratio		0.20
Charter
Voting interest acquired (as a percent)				25.01%	25.01%

Description of Business (Detail

Description of Business (Details) customer in Millions, $ in Millions	Feb. 14, 2014USD ($)	Dec. 31, 2019itemcustomer
Skyhook
Business Acquisition [Line Items]
Number of primary products \| item		2
TruePosition \| Skyhook
Business Acquisition [Line Items]
Voting interest acquired (as a percent)	100.00%
Cash paid for acquisition \| $	$ 57.5
Charter
Business Acquisition [Line Items]
Number of business and residential customers \| customer		29.2

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Jan. 01, 2019	Jan. 01, 2018
Derivative instruments	$ 0	$ 0
Retained earnings (accumulated deficit)	2,767,885	2,650,669
Other current assets	2,409	1,471
Deferred income tax liabilities	999,757	965,829
Deferred Revenue and Other Current Liabilities	5,971	4,691
Deferred revenue current	4,800	4,300	$ 4,300	$ 4,500
Deferred revenue noncurrent	1,800	1,900	1,900	2,300
Deferred revenue	6,600		$ 6,200	6,800
Revenue recognized	$ 4,300	4,200
Revenue recognized period	3 years
Revenue recognized percentage	97.00%
Practical expedient modified contract	true
Cumulative Effect on Retained Earnings, Net of Tax		$ 1,223
Adjustment \| ASU 2014-09 and ASU 2016-16
Retained earnings (accumulated deficit)				1,200
Other current assets				300
Deferred income tax liabilities				400
Deferred Revenue and Other Current Liabilities				$ (1,300)

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Concentrations (Details)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Skyhook \| Significant customer \| Revenue \| Customer concentration
Concentration Risk [Line Items]
Customer concentration (as a percent)	58.00%	66.00%	57.00%

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - EPS (Details) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Summary of Significant Accounting Policies
Basic WASO	181,531	181,325	181,772
Potentially dilutive shares	1,253	1,264	1,374
Diluted WASO	182,784	182,589	183,146
Antidilutive shares excluded	309	10	0

Assets and Liabilities Measur_3

Assets and Liabilities Measured at Fair Value (Details) - Recurring - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Assets and Liabilities Measured at Fair Value
Cash equivalents	$ 48,174	$ 67,329
Level 1
Assets and Liabilities Measured at Fair Value
Cash equivalents	$ 48,174	$ 67,329

Assets and Liabilities Measur_4

Assets and Liabilities Measured at Fair Value - Realized and Unrealized Gains (Losses) On Financial Instruments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Realized and Unrealized Gains (Losses) on Financial Instruments
Realized and unrealized gains (losses) on financial instruments, net	$ 1,170	$ 3,659	$ 3,098
Zero-strike call option
Realized and Unrealized Gains (Losses) on Financial Instruments
Realized and unrealized gains (losses) on financial instruments, net	$ 1,170	$ 3,659	$ 3,098

Investments in Charter Accounte

Investments in Charter Accounted for Using the Equity Method (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Investments in affiliates accounted for using the Equity Method
Carrying value of equity method investment	$ 12,194,674	$ 12,004,376
Charter
Investments in affiliates accounted for using the Equity Method
Carrying value of equity method investment	12,195,000
Market value of equity method investment	$ 26,229,000
Ownership percentage	26.00%
Business Acquisition, Percentage of Voting Interests Acquired	25.01%
A/N \| Charter
Investments in affiliates accounted for using the Equity Method
Proxy agreement term	5 years
Trading days before proposed sale of A/N	2 days
first \| A/N \| Charter
Investments in affiliates accounted for using the Equity Method
Maximum percentage of New Charter shares that may be voted by proxy	7.00%
last \| A/N \| Charter
Investments in affiliates accounted for using the Equity Method
Maximum percentage of New Charter shares that may be voted by proxy	7.00%

Investments in Charter Accoun_2

Investments in Charter Accounted for Using the Equity Method (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Jan. 01, 2019	Jan. 01, 2018	Dec. 31, 2016
Excess basis allocation within memo accounts
Share of earnings (loss) of affiliates, net	$ 286,401	$ 166,146	$ 2,508,991
Loss on dilution of investment in affiliate	(79,329)	(43,575)	(17,872)
Other assets	9,535	9,487
Accounts payable and accrued liabilities	6,168	3,504
Deferred income tax liabilities	999,757	965,829
total shareholders' equity	10,667,946	10,598,618	10,486,901			$ 8,473,092
Adjustment \| ASU 2014-09 and ASU 2016-16
Excess basis allocation within memo accounts
Deferred income tax liabilities					$ 400
Charter
Investments in affiliates accounted for using the Equity Method
Other Comprehensive Income Loss From Equity Method Investments	380	(172)	768
Other Comprehensive Income Loss From Equity Method Investments Before Tax	500	(200)	1,200
Excess basis allocation within memo accounts
Property and equipment	225,000	328,000
Customer relationships	1,043,000	721,000
Franchise fees	1,996,000	1,821,000
Trademarks	29,000	29,000
Goodwill	1,630,000	1,202,000
Debt	(9,000)	(105,000)
Deferred income tax liability	(817,000)	(698,000)
Total	4,097,000	3,298,000
Share of earnings (loss) of affiliates, net	286,000	166,000	2,509,000
Amortization of Deferred Charges	124,000	119,000	277,000
Loss on dilution of investment in affiliate	$ (79,000)	$ (44,000)	$ (18,000)
Charter \| Customer relationships
Excess basis allocation within memo accounts
Remaining useful lives of customer relationships	10 years
Charter \| Property, Plant and Equipment
Excess basis allocation within memo accounts
Remaining useful lives of property and equipment	5 years
Charter \| Restatement Adjustment \| ASU 2016-02
Excess basis allocation within memo accounts
Right-of-use asset				$ 1,100,000
Operating lease liability				$ 1,200,000
Charter \| Adjustment \| ASU 2014-09 and ASU 2016-16
Excess basis allocation within memo accounts
total shareholders' equity					$ 69,000

Investments in Charter Accoun_3

Investments in Charter Accounted for Using the Equity Method (Details) - Charter - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Charter consolidated balance sheet
Current assets	$ 6,537	$ 2,944
Property and equipment, net	34,591	35,126
Goodwill	29,554	29,554
Intangible assets, net	74,775	76,884
Other assets	2,731	1,622
Total assets	148,188	146,130
Current liabilities	12,385	12,095
Deferred income taxes	17,711	17,389
Long-term debt	75,578	69,537
Other liabilities	3,703	2,837
Equity	38,811	44,272
Total liabilities and shareholders' equity	148,188	146,130
Charter consolidated statement of operations
Revenue	45,764	43,634	$ 41,581
Operating costs and expenses (excluding depreciation and amortization)	29,224	27,860	26,541
Depreciation and amortization	9,926	10,318	10,588
Other operating expenses, net	103	235	346
Total operating costs and expenses	39,253	38,413	37,475
Operating income	6,511	5,221	4,106
Interest expense, net	(3,797)	(3,540)	(3,090)
Loss on extinguishment of debt	(25)		(40)
Other income (expense), net	(258)	5	52
Income tax (expense) benefit	(439)	(180)	9,087
Net earnings (loss)	1,992	1,506	10,115
Less: Net income attributable to noncontrolling interests	(324)	(276)	(220)
Net income (loss) attributable to Charter shareholders	$ 1,668	$ 1,230	$ 9,895

Debt (Details)

Debt (Details) - Amended 2017 Margin Loan Agreement shares in Millions, $ in Millions	Aug. 19, 2019USD ($)	Mar. 21, 2016loan	Oct. 30, 2014loan	Dec. 31, 2019USD ($)shares	Dec. 31, 2018USD ($)
Charter
Debt disclosures
Number of common shares pledged as collateral \| shares				6.8
Value of pledged collateral				$ 3,300
SPV
Debt disclosures
Number of debt agreements \| loan		2	2
Maximum borrowing capacity	$ 1,000
Additional allowed borrowing capacity	$ 1,000
Long-term Debt, Gross				575	$ 525
Remaining borrowing capacity				$ 425
Percentage of fixed portion of interest rate	0.50%
Debt Instrument, Interest Rate, Effective Percentage				3.40%
SPV \| Three-month LIBOR
Debt disclosures
Interest rate basis	three-month LIBOR
Basis spread on variable rate	1.50%
SPV \| Federal Funds Rate
Debt disclosures
Interest rate basis	federal funds rate
Basis spread on variable rate	0.50%
SPV \| LIBOR
Debt disclosures
Interest rate basis	LIBOR
Basis spread on variable rate	1.00%			1.50%

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
Income Taxes (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income tax benefit (expense)
US federal income tax rate	21.00%	21.00%	35.00%
Current:
Federal			$ (11)
State and local	$ (2)	$ (355)	(84)
Total current income tax expense	(2)	(355)	(95)
Deferred:
Federal	(30,841)	(17,501)	(301,837)
State and local	(7,099)	(4,068)	(115,001)
Total deferred income tax expense	(37,940)	(21,569)	(416,838)
Income tax benefit (expense)	$ (37,942)	$ (21,924)	$ (416,933)

Income Taxes - Income Tax Recon

Income Taxes - Income Tax Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Differences between provision for income taxes and income tax expense computed by applying federal rates
US federal income tax rate	21.00%	21.00%	35.00%
Computed expected tax benefits (expense)	$ (32,583)	$ (19,294)	$ (857,710)
State and local taxes, net of federal income taxes	(5,414)	(3,831)	(74,805)
Change in valuation allowance	(249)	380	(1,208)
Change in tax rate - other	18	(27)
Change in tax rate - U.S. tax reform			515,773
Derivative instruments	246	768	1,084
Other	40	80	(67)
Income tax benefit (expense)	$ (37,942)	$ (21,924)	$ (416,933)

Income Taxes - Deferred Taxes (

Income Taxes - Deferred Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Deferred tax assets:
Tax loss and tax credit carryforwards	$ 66,329	$ 56,056
Accrued stock-based compensation	7,969	5,571
Deferred revenue	1,562	1,430
Other	114	44
Total deferred tax assets	75,974	63,101
Less: valuation allowance	(8,021)	(7,773)
Net deferred tax assets	67,953	55,328
Deferred tax liabilities:
Investments	(1,067,492)	(1,020,869)
Intangible assets	(46)	(261)
Other	(74)	(27)
Total deferred tax liabilities	(1,067,612)	(1,021,157)
Net deferred tax asset (liability)	(999,659)	$ (965,829)
Increase (decrease) in valuation allowance	200
Charter
Deferred tax liabilities:
Investments	$ (1,067,500)

Income Taxes - Carryforwards (D

Income Taxes - Carryforwards (Details) $ in Millions	Dec. 31, 2019USD ($)
Income Taxes
Tax credit carryforward after tax	$ 66.3
Loss carryforward with no expiration	17.1
Operating loss carryforwards expected to be unutilized	$ 8

Stockholders' Equity (Details)

Stockholders' Equity (Details) $ / shares in Units, $ in Thousands	Sep. 30, 2019USD ($)shares	Oct. 03, 2017USD ($)shares	Mar. 31, 2017USD ($)	May 18, 2016USD ($)$ / sharesshares	Jan. 09, 2015shares	Dec. 10, 2014	Nov. 04, 2014shares	Oct. 29, 2014	Dec. 31, 2017$ / itemshares	Dec. 31, 2019USD ($)Voteitem$ / sharesshares	Dec. 31, 2018USD ($)$ / sharesshares	Dec. 31, 2017USD ($)$ / item	Dec. 31, 2016USD ($)shares
Broadband Spin-Off Distribution Ratio								0.25
Shares issued during period							85,761,332
Proceeds from Derivative Instrument, Financing Activities \| $										$ 47,500	$ 146,483	$ 155,683
Preferred shares issued										0	0
Liberty Interactive
Number of shares purchased				42,700,000
GCI Liberty, Inc.
Non-voting economic ownership percentage										23.50%
Series A common stock
Common Stock, Par or Stated Value Per Share \| $ / shares										$ 0.01	$ 0.01
Number Of Votes \| Vote										1
Common Stock, Capital Shares Reserved for Future Issuance										4,000
Series B common stock
Common Stock, Par or Stated Value Per Share \| $ / shares										$ 0.01	0.01
Number Of Votes \| Vote										10
Common Stock Shares Received In Exchange For One Share Of Series B \| item										1
Series C common stock
Subscription Rights Distribution Ratio						0.20
Proceeds from Issuance of Common Stock \| $				$ 4,400,000
Shares issued during period				78,300,000	17,277,224
Common Stock, Par or Stated Value Per Share \| $ / shares				$ 0.01						$ 0.01	$ 0.01
Purchase price (in dollars per share) \| $ / shares				$ 56.23
Number Of Votes \| Vote										0
Common Stock, Capital Shares Reserved for Future Issuance										1,900,000
Series C common stock \| Zero-strike call option
Number of shares purchased									527,156
Derivative underlying share amount	460,675	527,156								0	0		704,908
Derivative, Price Risk Option Strike Price \| $ / item									90.54			90.54
Derivative premium paid \| $	$ 46,300	$ 47,700											$ 47,900
Proceeds from Derivative Instrument, Financing Activities \| $			$ 50,000							$ 47,500

Stock-Based Compensation - Comp

Stock-Based Compensation - Compensation expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Stock Based Compensation
Stock-based compensation	$ 10,511	$ 5,707	$ 5,292
Operating expense
Stock Based Compensation
Stock-based compensation	113	108	178
Selling, general and administrative
Stock Based Compensation
Stock-based compensation	$ 10,398	$ 5,599	$ 5,114

Stock-Based Compensation - Ince

Stock-Based Compensation - Incentive Plans and Grants of Stock Awards (Details) - $ / shares shares in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Fair value assumptions
Dividend rate	0.00%	0.00%	0.00%
Options \| Minimum
Fair value assumptions
Expected term	5 years 3 months 18 days	5 years 3 months 18 days	5 years 3 months 18 days
Volatility rate	24.40%	24.40%	24.40%
Options \| Maximum
Fair value assumptions
Expected term	6 years 3 months 18 days	6 years 3 months 18 days	6 years 3 months 18 days
Volatility rate	25.70%	25.70%	25.70%
Options \| Series A common stock
Stock Based Compensation
Options granted (in shares)	0
Options \| CEO \| Series C common stock
Stock Based Compensation
Options granted (in shares)	302
Grant date fair value	$ 31.12
Options \| Employee \| Series C common stock
Stock Based Compensation
Options granted (in shares)	41
Grant date fair value	$ 32.21
Options \| Employee \| Series C common stock \| Minimum
Stock Based Compensation
Vesting period	3 years
Options \| Employee \| Series C common stock \| Maximum
Stock Based Compensation
Vesting period	5 years
Options \| Non-employee \| Director \| Series C common stock
Stock Based Compensation
Vesting period	1 year
Options granted (in shares)	8	10	16
Grant date fair value	$ 31.18	$ 24.04	$ 22.68
RSUs \| CEO \| Series C common stock
Stock Based Compensation
Vesting period	1 year
Granted (in shares)	25
Grant date fair value	$ 88.99
2019 Plan
Stock Based Compensation
Number of authorized shares	6,000
2019 Plan \| Minimum
Stock Based Compensation
Vesting period	1 year
Term of awards	7 years
2019 Plan \| Maximum
Stock Based Compensation
Vesting period	5 years
Term of awards	10 years

Stock-Based Compensation - Outs

Stock-Based Compensation - Outstanding Awards and Exercises (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Series A common stock
Options additional disclosures
Shares reserved for future issuance upon exercise of stock options	4,000
Series C common stock
Options additional disclosures
Shares reserved for future issuance upon exercise of stock options	1,900,000
Awards
Compensation cost not yet recognized
Unrecognized compensation cost options	$ 9.7
Period over which unrecognized compensation cost will be recognized	2 years 6 months
Awards \| Series A common stock
Options
Outstanding beginning balance (in shares)	393,000
Exercised (in shares)	(389,000)
Outstanding ending balance (in shares)	4,000	393,000
Number of awards exercisable (in shares)	4,000
WAEP
WAEP Outstanding beginning balance (in dollars per share)	$ 33.31
WAEP options exercised (in dollars per share)	33.16
WAEP Outstanding ending balance (in dollars per share)	47.92	$ 33.31
WAEP options exercisable (in dollars per share)	$ 47.92
Options additional disclosures
Weighted average remaining contractual life outstanding	2 years
Weighted average remaining contractual life exercisable	2 years
Awards \| Series C common stock
Options
Outstanding beginning balance (in shares)	2,356,000
Options granted (in shares)	351,000
Exercised (in shares)	(775,000)
Outstanding ending balance (in shares)	1,932,000	2,356,000
Number of awards exercisable (in shares)	1,622,000
WAEP
WAEP Outstanding beginning balance (in dollars per share)	$ 43.77
WAEP Options granted (in dollars per share)	117.52
WAEP options exercised (in dollars per share)	33.14
WAEP Outstanding ending balance (in dollars per share)	61.43	$ 43.77
WAEP options exercisable (in dollars per share)	$ 50
Options additional disclosures
Weighted average remaining contractual life outstanding	5 years 3 months 18 days
Weighted average remaining contractual life exercisable	4 years 10 months 24 days
Aggregate intrinsic value outstanding	$ 124
Aggregate intrinsic value exercisable	123
Options
Options additional disclosures
Aggregate intrinsic value of options exercised during period	$ 91.7	$ 3	$ 8.1
Options \| Series A common stock
Options
Options granted (in shares)	0
Options \| Series B common stock
Options
Outstanding ending balance (in shares)	0

Stock-based Compensation - Othe

Stock-based Compensation - Other than Options (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Restricted Stock \| Common Stock Class A and C
Stock Based Compensation
Fair value of outstanding grants	$ 2,600	$ 112	$ 116
Unvested shares outstanding	47
Weighted average grant date fair value awards outstanding unvested (in dollars per share)	$ 84.85
Skyhook \| LTIPs \| PARs and PSUs \| Other liabilities \| Level 2
Stock Based Compensation
Deferred compensation	$ 1,200	$ 1,100

Employee Benefit Plans (Details

Employee Benefit Plans (Details) - Skyhook - Skyhook 401(k) Plan - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Company matching contribution (as a percent)	100.00%
Employee salary eligible for matching contributions (as a percent)	10.00%
Employer cash contribution	$ 0.8	$ 0.8	$ 1

Commitments and Contingencies_2

Commitments and Contingencies (Details) - Skyhook $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)facility	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Minimum annual lease payments
2020	$ 630
2021	432
2022	440
Total lease payments	1,502
Less: imputed interest	144
Total lease liabilities	1,358
Total operating lease cost	$ 700
Rental expense		$ 1,000	$ 1,100
Number of facilities \| facility	2

Segment Information (Details)

Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
Segment Information (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Segment information
Total Revenue	$ 3,941	$ 3,713	$ 3,747	$ 3,458	$ 3,576	$ 3,518	$ 3,371	$ 11,791	$ 14,859	$ 22,256	$ 13,092
Adjusted OIBDA									(16,891)	(3,528)	(16,416)
Total assets	12,256,342				12,098,437				12,256,342	12,098,437
Investments in affiliates	12,194,674				12,004,376				12,194,674	12,004,376
Capital expenditures									$ 500	41
Charter
Segment information
Financial results included in the disclosure (as a percent)									100.00%
Operating segments \| Skyhook
Segment information
Total Revenue									$ 14,859	22,256	13,092
Adjusted OIBDA									(4,704)	3,161	(9,496)
Total assets	18,145				21,763				18,145	21,763
Capital expenditures									500	41
Operating segments \| Charter
Segment information
Total Revenue									45,764,000	43,634,000	41,581,000
Adjusted OIBDA									16,752,000	15,824,000	14,955,000
Total assets	148,188,000				146,130,000				148,188,000	146,130,000
Capital expenditures									7,195,000	9,125,000
Corporate and other
Segment information
Adjusted OIBDA									(12,187)	(6,689)	(6,920)
Total assets	12,238,197				12,076,674				12,238,197	12,076,674
Investments in affiliates	12,194,674				12,004,376				12,194,674	12,004,376
Operating Segments and Corporate and Other
Segment information
Total Revenue									45,778,859	43,656,256	41,594,092
Adjusted OIBDA									16,735,109	15,820,472	14,938,584
Total assets	160,444,342				158,228,437				160,444,342	158,228,437
Investments in affiliates	12,194,674				12,004,376				12,194,674	12,004,376
Capital expenditures									7,195,500	9,125,041
Eliminate equity method affiliate
Segment information
Total Revenue									(45,764,000)	(43,634,000)	(41,581,000)
Adjusted OIBDA									(16,752,000)	(15,824,000)	(14,955,000)
Total assets	$ (148,188,000)				$ (146,130,000)				(148,188,000)	(146,130,000)
Capital expenditures									(7,195,000)	(9,125,000)
United States
Segment information
Total Revenue									12,507	19,946	10,315
Other countries
Segment information
Total Revenue									$ 2,352	$ 2,310	$ 2,777

Segment Information (Details)_2

Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
Segment Information (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Reconciliation of consolidated segment Adjusted OIBDA to earnings (loss) before income taxes
Consolidated segment Adjusted OIBDA									$ (16,891)	$ (3,528)	$ (16,416)
Stock-based compensation									(10,511)	(5,707)	(5,292)
Depreciation and amortization									(1,875)	(2,779)	(3,770)
Operating income (loss)	$ (8,322)	$ (7,588)	$ (7,166)	$ (6,201)	$ (5,093)	$ (4,096)	$ (5,071)	$ 2,246	(29,277)	(12,014)	(25,478)
Interest expense									(25,166)	(23,302)	(19,570)
Share of earnings (loss) of affiliates, net									286,401	166,146	2,508,991
Gain (loss) on dilution of investment in affiliate									(79,329)	(43,575)	(17,872)
Realized and unrealized gains (losses) on financial instruments, net									1,170	3,659	3,098
Other, net									1,359	963	1,431
Earnings (loss) before income taxes									$ 155,158	$ 91,877	$ 2,450,600

Quarterly Financial Informati_3

Quarterly Financial Information (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract]
Revenue	$ 3,941	$ 3,713	$ 3,747	$ 3,458	$ 3,576	$ 3,518	$ 3,371	$ 11,791	$ 14,859	$ 22,256	$ 13,092
Operating Income (Loss)	(8,322)	(7,588)	(7,166)	(6,201)	(5,093)	(4,096)	(5,071)	2,246	(29,277)	(12,014)	(25,478)
Net earnings (loss) attributable to Liberty Broadband Corporation Series A, Series B and Series C stockholders	$ 91,969	$ 27,496	$ 12,052	$ (14,301)	$ 14,804	$ 59,639	$ 10,580	$ (15,070)	$ 117,216	$ 69,953	$ 2,033,667
Basic earnings (loss) attributable to Series A, Series B and Series C Liberty Broadband shareholders per common share	$ 0.51	$ 0.15	$ 0.07	$ (0.08)	$ 0.08	$ 0.33	$ 0.06	$ (0.08)	$ 0.65	$ 0.39	$ 11.19
Diluted net earnings (loss) attributable to Series A, Series B and Series C Liberty Broadband shareholders per common share	$ 0.50	$ 0.15	$ 0.07	$ (0.08)	$ 0.08	$ 0.33	$ 0.06	$ (0.08)	$ 0.64	$ 0.38	$ 11.10