Liberty Broadband Corp Files 2023 Annual Report on Form 10-K

TL;DR

<b>Liberty Broadband Corp has filed its 2023 annual report (10-K) detailing its financial performance and operations for the fiscal year ending December 31, 2023.</b>

AI Summary

Liberty Broadband Corp (LBRDP) filed a Annual Report (10-K) with the SEC on February 16, 2024. Liberty Broadband Corp filed its 2023 Form 10-K on February 16, 2024. The filing covers the fiscal year ending December 31, 2023. The company's principal business address is 12300 Liberty Blvd, Englewood, CO 80112. The filing includes financial data for the fiscal year 2023. Liberty Broadband Corp is classified under SIC code 4841 (Cable & Other Pay Television Services).

Why It Matters

For investors and stakeholders tracking Liberty Broadband Corp, this filing contains several important signals. This 10-K filing provides a comprehensive overview of Liberty Broadband Corp's financial health, operational activities, and strategic positioning for the past fiscal year, crucial for investors and stakeholders to assess performance and future outlook. The detailed financial statements and risk factors within the report offer insights into the company's revenue streams, asset base, liabilities, and potential challenges, enabling informed investment decisions.

Risk Assessment

Risk Level: medium — Liberty Broadband Corp shows moderate risk based on this filing. The filing is a standard annual report (10-K), which typically contains a broad range of information. Specific risks are detailed within the report itself, but the nature of a 10-K suggests a medium level of risk due to the comprehensive disclosure requirements.

Analyst Insight

Review the detailed financial statements and risk factors sections of the 10-K to understand Liberty Broadband Corp's performance and potential challenges in the cable and pay television services industry.

Financial Highlights

revenue

18528468

total Assets

125962296

revenue Growth

0.33

Key Numbers

• 108 — Public Document Count (Total number of documents in the filing)
• 2023-12-31 — Fiscal Year End (The end date of the reporting period)
• 2024-02-16 — Filing Date (The date the report was filed with the SEC)
• 720-875-5400 — Business Phone (Contact phone number for the company)

Key Players & Entities

• Liberty Broadband Corp (company) — Filer of the 10-K
• 2023-12-31 (date) — Fiscal year end
• 2024-02-16 (date) — Filing date
• Englewood, CO (location) — Business address city and state
• 4841 (industry_code) — Standard Industrial Classification

FAQ

Industry Context

Liberty Broadband Corp operates within the Cable & Other Pay Television Services industry, providing broadband internet, video, and voice services.

Regulatory Implications

The filing is subject to the regulations of the U.S. Securities and Exchange Commission (SEC) under the Securities Exchange Act of 1934.

What Investors Should Do

1. Analyze the 'Financial Data' section for revenue, net income, and EPS trends.
2. Review the 'Risk Factors' section for potential challenges and uncertainties.
3. Examine the 'Business' section for strategic initiatives and operational details.

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K
• 2024-02-16: Filing Date — Date the 10-K was submitted to the SEC

Year-Over-Year Comparison

This is the initial filing analyzed, so no comparison to a previous filing is available.

Key Financial Figures

• $38 million — Company was publicly awarded a total of $38 million in federal grants. GCI Holdings' reven
• $3.4 billion — he beginning of 2022, Charter has spent $3.4 billion on its subsidized rural construction in
• $8 billion — to date, Charter expects to invest over $8 billion in total in its subsidized rural constr
• $2 billion — with government funding, including over $2 billion of support awarded through December 31,

Filing Documents

• lbrda-20231231x10k.htm (10-K) — 3320KB
• lbrda-20231231xex21.htm (EX-21) — 38KB
• lbrda-20231231xex23d1.htm (EX-23.1) — 3KB
• lbrda-20231231xex23d2.htm (EX-23.2) — 2KB
• lbrda-20231231xex31d1.htm (EX-31.1) — 19KB
• lbrda-20231231xex31d2.htm (EX-31.2) — 16KB
• lbrda-20231231xex32.htm (EX-32) — 11KB
• lbrda-20231231xex97.htm (EX-97) — 59KB
• lbrda-20231231x10k002.jpg (GRAPHIC) — 105KB
• 0001558370-24-001302.txt (&nbsp;) — 14665KB
• lbrda-20231231.xsd (EX-101.SCH) — 82KB
• lbrda-20231231_cal.xml (EX-101.CAL) — 108KB
• lbrda-20231231_def.xml (EX-101.DEF) — 383KB
• lbrda-20231231_lab.xml (EX-101.LAB) — 757KB
• lbrda-20231231_pre.xml (EX-101.PRE) — 610KB
• lbrda-20231231x10k_htm.xml (XML) — 2834KB

Business

Business I-2 Item 1A.

Risk Factors

Risk Factors I-30 Item 1B. Unresolved Staff Comments I-56 Item 1C. Cybersecurity I-56 Item 2.

Properties

Properties I-58 Item 3.

Legal Proceedings

Legal Proceedings I-58 Item 4. Mine Safety Disclosures I-59 Part II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities II-1 Item 6. [Reserved] II-2 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations II-2 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk II-17 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data II-17 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure II-17 Item 9A.

Controls and Procedures

Controls and Procedures II-18 Item 9B. Other Information II-18 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections II-18 Part III Item 10. Directors, Executive Officers and Corporate Governance III-1 Item 11.

Executive Compensation

Executive Compensation III-1 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters III-1 Item 13. Certain Relationships and Related Transactions, and Director Independence III-1 Item 14. Principal Accountant Fees and Services III-1 Part IV Item 15. Exhibits and Financial Statement Schedules IV-1 Item 16. Form 10-K Summary IV-5 I-1 Table of Contents PART I.

Business

Item 1. Business General Development of Business Liberty Broadband Corporation ("Liberty Broadband," "the Company," "us," "we," or "our") is primarily comprised of GCI Holdings, LLC ("GCI Holdings" or "GCI"), a wholly owned subsidiary, and an equity method investment in Charter Communications, Inc. ("Charter"). 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, and to distribute subscription rights to acquire shares of Liberty Broadband's common stock (the "Broadband Spin-Off"). Liberty Broadband was formed in 2014 as a Delaware corporation. On December 18, 2020, GCI Liberty, Inc. ("GCI Liberty"), the parent company of GCI Holdings, was acquired by Liberty Broadband (the "Combination"). In connection with the Broadband Spin-Off, Liberty 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, including a services agreement and a facilities sharing agreement. Additionally, in connection with a prior transaction, GCI Liberty and Qurate Retail, Inc. ("Qurate Retail") entered into a tax sharing agreement, which was assumed by Liberty Broadband as a result of the Combination. The tax sharing agreement provides for the allocation and indemnification of tax liabilities and benefits between Qurate Retail and Liberty Broadband and other agreements related to tax matters. Under the facilities sharing agreement, Liberty Broadband shares office space with Liberty and related amenities at Liberty's corporate headquarters. Pursuant to the services agreement, Liberty provides Liberty Broadband with general and administrative services including legal, tax, accounting, treasury, information technology, cybersecurity and investor relations suppor

View Full Filing

View this 10-K filing on SEC EDGAR