Revenue and Growth - Liberty Broadband's total revenue for 2024 increased by 4% to $1.016 billion, compared to $981 million in 2023[21] - GCI's revenue growth in the fourth quarter of 2024 was 5%, with business revenue increasing by 10% driven by upgrades in schools and healthcare[16] - Liberty Broadband's revenue for the year ended December 31, 2024, was $1,016 million, an increase from $981 million in 2023, representing a growth of 3.6%[33] Operating Income and Earnings - GCI's operating income for 2024 rose by 23% to $144 million, up from $117 million in 2023[21] - Operating income for Liberty Broadband increased to $92 million in 2024 from $73 million in 2023, reflecting a growth of 25.7%[33] - Liberty Broadband's net earnings attributable to shareholders rose to $869 million in 2024, compared to $688 million in 2023, marking a significant increase of 26.3%[33] Adjusted OIBDA - GCI's adjusted OIBDA for 2024 was flat at $362 million compared to $361 million in 2023[21] - Adjusted OIBDA for Liberty Broadband in 2024 was $327 million, slightly down from $337 million in 2023, indicating a decrease of 3%[29] - GCI Holdings' Adjusted OIBDA for 2024 was $362 million, marginally up from $361 million in 2023, showing a growth of 0.3%[27] Investments and Fair Value - The fair value of Liberty Broadband's investment in Charter was reported at $15.5 billion as of December 31, 2024[4] - The company received $205 million from the sale of 541,000 Charter shares between November 1, 2024, and January 31, 2025[5] Capital Expenditures and Debt - GCI's capital expenditures for 2024 were $193 million, with an expected increase to approximately $250 million in 2025 for network improvements[18] - Liberty Broadband's total debt increased by $17 million in the fourth quarter of 2024, primarily due to additional borrowing under the GCI senior credit facility[11] - Liberty Broadband's long-term debt increased slightly to $3,753 million in 2024 from $3,733 million in 2023, an increase of 0.5%[31] Assets and Liabilities - Total assets for Liberty Broadband increased to $16,687 million as of December 31, 2024, up from $15,641 million in 2023, a growth of 6.7%[31] - Cash and cash equivalents at the end of 2024 were $229 million, up from $176 million at the end of 2023, representing a 30.1% increase[35] - The company reported a decrease in total current liabilities from $200 million in 2023 to $178 million in 2024, a reduction of 11%[31] Future Plans - Liberty Broadband expects to spin off its GCI business in the summer of 2025[4] - The merger with Charter is expected to close on June 30, 2027, pending the completion of the GCI spin-off[6] Stock Repurchase - The company’s stock repurchase program continued, with $89 million spent on repurchases in 2024, down from $227 million in 2023[35]
Liberty Broadband(LBRDK) - 2024 Q4 - Annual Results