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DE 84-1496755 400 Washington Blvd. Stamford CT 06902 203 905-7801 Class A Common Stock $.001 Par Value CHTR NASDAQ Yes Yes Large Accelerated Filer false false false 119277492 1 509000000 477000000 238000000 219000000 3651000000 3680000000 813000000 987000000 4973000000 5144000000 41990000000 41514000000 47955000000 46444000000 18078000000 17875000000 238000000 440000000 67471000000 67471000000 29710000000 29710000000 145374000000 144065000000 5271000000 5004000000 155618000000 154213000000 12779000000 12556000000 999000000 750000000 13778000000 13306000000 92960000000 94006000000 1596000000 1447000000 20237000000 19841000000 5146000000 5094000000 0.001 0.001 900000000 900000000 129602238 126631549 0 0 0.001 0.001 1000 1000 1 1 1 1 0 0 0.001 0.001 250000000 250000000 0 0 0 0 0 0 21765000000 21447000000 -2938000000 -5393000000 10324746 0 1875000000 0 16952000000 16054000000 4949000000 4465000000 21901000000 20519000000 155618000000 154213000000 13526000000 13766000000 27123000000 27501000000 8215000000 8230000000 16378000000 16424000000 2197000000 2176000000 4408000000 4357000000 -51000000 -81000000 -66000000 -204000000 10463000000 10487000000 20852000000 20985000000 3063000000 3279000000 6271000000 6516000000 -1276000000 -1263000000 -2532000000 -2504000000 212000000 -107000000 88000000 -249000000 -1064000000 -1370000000 -2444000000 -2753000000 1999000000 1909000000 3827000000 3763000000 475000000 414000000 940000000 859000000 1524000000 1495000000 2887000000 2904000000 232000000 194000000 432000000 386000000 1292000000 1301000000 2455000000 2518000000 10.76 9.41 20.00 18.00 10.66 9.18 19.81 17.59 120121017 138205810 122789924 139889251 121255667 141684415 123969262 143098493 0 0 21447000000 -5393000000 0 16054000000 4465000000 20519000000 1163000000 1163000000 200000000 1363000000 203000000 203000000 203000000 2000000 2000000 2000000 1020000000 1020000000 1020000000 -17000000 -17000000 22000000 5000000 2000000 2000000 0 0 21635000000 -4230000000 -1020000000 16385000000 4685000000 21070000000 1292000000 1292000000 232000000 1524000000 138000000 138000000 138000000 20000000 20000000 20000000 11000000 11000000 11000000 855000000 855000000 855000000 -39000000 -39000000 52000000 13000000 20000000 20000000 0 0 21765000000 -2938000000 -1875000000 16952000000 4949000000 21901000000 0 0 23337000000 -7750000000 0 15587000000 4120000000 19707000000 1217000000 1217000000 192000000 1409000000 222000000 222000000 222000000 17000000 17000000 17000000 806000000 806000000 806000000 5000000 5000000 14000000 19000000 15000000 15000000 -20000000 -5000000 3000000 3000000 0 0 23586000000 -6533000000 -806000000 16247000000 4275000000 20522000000 1301000000 1301000000 194000000 1495000000 157000000 157000000 157000000 2000000 2000000 2000000 1467000000 1467000000 1467000000 45000000 45000000 171000000 216000000 14000000 14000000 -18000000 -4000000 121000000 121000000 0 0 23714000000 -5232000000 -2273000000 16209000000 4159000000 20368000000 2887000000 2904000000 4408000000 4357000000 341000000 379000000 12000000 15000000 417000000 -80000000 86000000 -350000000 136000000 286000000 -4000000 169000000 382000000 366000000 8229000000 7836000000 5726000000 5273000000 162000000 -47000000 285000000 199000000 -6173000000 -5425000000 11610000000 5116000000 148000000 233000000 12108000000 4793000000 30000000 1000000 1878000000 2253000000 13000000 19000000 0 252000000 22000000 124000000 212000000 -213000000 -2055000000 -2268000000 1000000 143000000 598000000 506000000 599000000 649000000 2506000000 2439000000 90000000 121000000 43000000 47000000 Organization and Basis of Presentation
Organization

Charter Communications, Inc. (together with its controlled subsidiaries, “Charter,” or the “Company”) is a leading broadband connectivity company with services available to homes and small to large businesses through its Spectrum® brand. Founded in 1993, the Company has evolved from providing cable TV to streaming, and from high-speed Internet to a converged broadband, WiFi and mobile experience. Over the Spectrum Fiber Broadband Network and supported by the Company’s 100% U.S.-based employees, the Company offers Seamless Connectivity and Entertainment with Spectrum Internet®, Mobile, TV and Voice products.

Charter is a holding company whose principal asset is a controlling equity interest in Charter Communications Holdings, LLC (“Charter Holdings”), an indirect owner of Charter Communications Operating, LLC (“Charter Operating”) under which substantially all of the operations reside. All significant intercompany accounts and transactions among consolidated entities have been eliminated.

Basis of Presentation

The accompanying consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) and the rules and regulations of the Securities and Exchange Commission (the “SEC”). Accordingly, certain information and footnote disclosures typically included in the Company's Annual Report on Form 10-K have been condensed or omitted for this quarterly report. The accompanying consolidated financial statements are unaudited and are subject to review by regulatory authorities. However, in the opinion of management, such financial statements include all adjustments, which consist of only normal recurring adjustments, necessary for a fair presentation of the results for the periods presented. Interim results are not necessarily indicative of results for a full year.

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 and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Areas involving significant judgments and estimates include capitalization of labor and overhead costs, valuation and impairment of franchise assets and goodwill, and income taxes. Actual results could differ from those estimates.

Comprehensive income equaled net income attributable to Charter shareholders for the three and six months ended June 30, 2026 and 2025.
The accompanying consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) and the rules and regulations of the Securities and Exchange Commission (the “SEC”). Accordingly, certain information and footnote disclosures typically included in the Company's Annual Report on Form 10-K have been condensed or omitted for this quarterly report. The accompanying consolidated financial statements are unaudited and are subject to review by regulatory authorities. However, in the opinion of management, such financial statements include all adjustments, which consist of only normal recurring adjustments, necessary for a fair presentation of the results for the periods presented. Interim results are not necessarily indicative of results for a full year. 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 and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Areas involving significant judgments and estimates include capitalization of labor and overhead costs, valuation and impairment of franchise assets and goodwill, and income taxes. Actual results could differ from those estimates. Mergers and Acquisitions
On May 16, 2025, Charter, Charter Holdings, and Cox Enterprises, Inc. (“Cox Enterprises”) entered into a Transaction Agreement (the “Transaction Agreement”) pursuant to which (i) Cox Enterprises will sell and transfer to Charter 100% of the equity interests of certain subsidiaries of Cox Communications, Inc. (“Cox Communications”) that conduct Cox Communications’ commercial fiber and managed IT and cloud services businesses (the “Equity Sale”), (ii) Cox Enterprises will contribute the equity interests of Cox Communications and certain other assets (other than certain excluded assets) primarily related to Cox Communications’ residential cable business to Charter Holdings (the “Contribution”), and (iii) Cox Enterprises will pay $1.00 to Charter (collectively, the “Cox Transactions”). Under the Transaction Agreement, Charter and Cox Enterprises may designate one or more wholly owned subsidiaries to take actions with respect to Charter and Cox Enterprises, respectively.

Pursuant to the Transaction Agreement, at the closing of the Cox Transactions:

•in consideration of the Equity Sale, Charter will pay $3.5 billion in cash to Cox Enterprises;

•in consideration of the Contribution, Charter Holdings will (i) pay to Cox Enterprises $650 million in cash and (ii) issue to Cox Enterprises convertible preferred units of Charter Holdings with an aggregate liquidation preference of $6.0 billion, which will pay a 6.875% dividend per annum, and approximately 33.6 million Charter Holdings common units. The
Charter Holdings convertible preferred units will be convertible into Charter Holdings common units, with an initial conversion price of $477.41, subject to certain adjustments. The Charter Holdings common units will be exchangeable by the holder, in certain circumstances, for cash or, at the election of Charter, Charter Class A common stock on a one-for-one basis, subject to certain adjustments; and

•in consideration of the $1.00 payment from Cox Enterprises to Charter, Charter will issue to Cox Enterprises one share of the newly created Charter Class C common stock. The Charter Class C common stock will be equivalent, economically, to the outstanding Charter Class A common stock and the Charter Class B common stock but will have a number of votes per share that reflect the voting power of the Charter Holdings common units and the Charter Holdings convertible preferred units held by Cox Enterprises on an as-converted, as-exchanged basis.

The combined entity will assume Cox Communications’ approximately $12.4 billion in outstanding net debt and finance leases.
1 1.00 3500000000 650000000 6000000000.0 0.06875 33600000 477.41 1.00 1 12400000000 Accounts Payable, Accrued and Other Current Liabilities
Accounts payable, accrued and other current liabilities consist of the following as of June 30, 2026 and December 31, 2025:

June 30, 2026December 31, 2025
Accounts payable – trade$1,066 $1,034 
Deferred revenue428 422 
Accrued and other current liabilities:
Programming costs1,581 1,575 
Labor1,302 1,365 
Capital expenditures3,162 3,296 
Interest1,279 1,259 
Taxes and regulatory fees567 521 
Short-term borrowings1,155 918 
Other2,239 2,166 
$12,779 $12,556 

Under a supply chain finance program, the Company has agreements with third parties that allow its participating vendors to finance payment obligations from the Company with designated third-party financial institutions who act as its paying agent. As a result, the Company has generally extended its payment terms with vendors. A participating vendor may request a participating financial institution to finance one or more of the Company's payment obligations to such vendor prior to the scheduled due date thereof priced at a discount to the original payment obligation from the Company. The Company is not required to provide collateral to the financial institutions. The Company's obligations to participating vendors, including amounts due and scheduled payment dates, are not impacted by the vendors’ decisions to finance amounts due under these financing arrangements. The Company's outstanding payment obligations to participating vendors were $725 million and $735 million as of June 30, 2026 and December 31, 2025, respectively, and are included in accounts payable - trade and accrued capital expenditures above. Cash outflows to the financial institutions are classified as cash flows from operating and investing activities.

Under a deferred payment program, the Company has agreements with third parties to pay certain invoices when due, and the Company pays the third parties at a later date, the invoice amount plus interest. The Company's outstanding payment obligation to participating vendors under the deferred payment plan was $1.2 billion and $918 million as of June 30, 2026 and December 31, 2025, respectively, and is included in short-term borrowings. Cash outflows to the financial institutions are classified as cash flows from financing activities.
Accounts payable, accrued and other current liabilities consist of the following as of June 30, 2026 and December 31, 2025:

June 30, 2026December 31, 2025
Accounts payable – trade$1,066 $1,034 
Deferred revenue428 422 
Accrued and other current liabilities:
Programming costs1,581 1,575 
Labor1,302 1,365 
Capital expenditures3,162 3,296 
Interest1,279 1,259 
Taxes and regulatory fees567 521 
Short-term borrowings1,155 918 
Other2,239 2,166 
$12,779 $12,556 
1066000000 1034000000 428000000 422000000 1581000000 1575000000 1302000000 1365000000 3162000000 3296000000 1279000000 1259000000 567000000 521000000 1155000000 918000000 2239000000 2166000000 12779000000 12556000000 725000000 735000000 1200000000 918000000 Total Debt
A summary of our debt as of June 30, 2026 and December 31, 2025 is as follows:

June 30, 2026December 31, 2025
Principal AmountCarrying ValueFair ValuePrincipal AmountCarrying ValueFair Value
Senior unsecured notes$26,734 $26,663 $24,931 $27,250 $27,197 $25,634 
Senior secured notes and debentures(a)
54,658 54,886 46,451 55,418 55,658 48,030 
Credit facilities(b)
12,453 12,410 12,168 11,949 11,901 11,803 
$93,845 $93,959 $83,550 $94,617 $94,756 $85,467 

(a)Includes the Company's £625 million fixed-rate British pound sterling denominated notes (the “Sterling Notes”) (remeasured at $829 million and $842 million as of June 30, 2026 and December 31, 2025, respectively, using the exchange rate at the respective dates) and the Company's £650 million aggregate principal amount of Sterling Notes (remeasured at $862 million and $876 million as of June 30, 2026 and December 31, 2025, respectively, using the exchange rate at the respective dates).
(b)The Company has availability under the Charter Operating credit facilities of approximately $3.7 billion as of June 30, 2026.

The estimated fair value of the Company’s senior unsecured and secured notes and debentures as of June 30, 2026 and December 31, 2025 is based on quoted market prices in active markets and is classified within Level 1 of the valuation hierarchy, while the estimated fair value of the Company’s credit facilities is based on quoted market prices in inactive markets and is classified within Level 2.

In February 2026, CCO Holdings and CCO Holdings Capital Corp. redeemed $750 million in aggregate principal amount of the outstanding 5.500% senior notes due 2026 and $2.25 billion in aggregate principal amount of the outstanding 5.125% senior notes due 2027. The transactions resulted in a loss on extinguishment of debt of approximately $4 million during the six months ended June 30, 2026 recorded in other income (expenses), net in the consolidated statement of operations.

During the three and six months ended June 30, 2026, the Company repurchased $1.2 billion in aggregate principal amount of various series of notes under an open market repurchase program. The transactions resulted in a gain on extinguishment of debt of approximately $243 million during the three and six months ended June 30, 2026 recorded in other income (expenses), net in the consolidated statement of operations.
A summary of our debt as of June 30, 2026 and December 31, 2025 is as follows:

June 30, 2026December 31, 2025
Principal AmountCarrying ValueFair ValuePrincipal AmountCarrying ValueFair Value
Senior unsecured notes$26,734 $26,663 $24,931 $27,250 $27,197 $25,634 
Senior secured notes and debentures(a)
54,658 54,886 46,451 55,418 55,658 48,030 
Credit facilities(b)
12,453 12,410 12,168 11,949 11,901 11,803 
$93,845 $93,959 $83,550 $94,617 $94,756 $85,467 

(a)Includes the Company's £625 million fixed-rate British pound sterling denominated notes (the “Sterling Notes”) (remeasured at $829 million and $842 million as of June 30, 2026 and December 31, 2025, respectively, using the exchange rate at the respective dates) and the Company's £650 million aggregate principal amount of Sterling Notes (remeasured at $862 million and $876 million as of June 30, 2026 and December 31, 2025, respectively, using the exchange rate at the respective dates).
(b)The Company has availability under the Charter Operating credit facilities of approximately $3.7 billion as of June 30, 2026. 26734000000 26663000000 24931000000 27250000000 27197000000 25634000000 54658000000 54886000000 46451000000 55418000000 55658000000 48030000000 12453000000 12410000000 12168000000 11949000000 11901000000 11803000000 93845000000 93959000000 83550000000 94617000000 94756000000 85467000000 625000000 829000000 842000000 650000000 862000000 876000000 3700000000 750000000 0.05500 2250000000 0.05125 -4000000 1200000000 243000000 243000000 Equipment Installment Plan Financing Facility
CCO EIP Financing, LLC (the “SPV Borrower”), a bankruptcy remote special purpose vehicle and consolidated subsidiary of the Company, is the borrower of a senior secured revolving credit facility to finance the purchase of equipment installment plan receivables (“EIP Receivables”) with a number of financial institutions (the “EIP Financing Facility”).

The revolving credit facility under the EIP Financing Facility bears interest on the outstanding borrowings based on lenders’ cost of funds plus an applicable margin and was 4.82% and 5.14% as of June 30, 2026 and December 31, 2025, respectively. The EIP Financing Facility has a final maturity date of November 3, 2029, comprised of a twelve-month revolving loan period subject to renewal, and if not renewed, cash flows on EIP Receivables are applied to amortize the loan which may occur over a period of up to three years. SPV Borrower may borrow up to $2.0 billion under the EIP Financing Facility. As of June 30, 2026 and December 31, 2025, the carrying value of the EIP Financing Facility was $1.6 billion and $1.4 billion, respectively, and is included in the Company’s consolidated balance sheets.

The SPV Borrower’s sole business consists of the purchase or acceptance through capital contributions of the EIP Receivables from Spectrum Mobile Equipment, LLC, (the sole direct parent entity of SPV Borrower that originates the EIP Receivables) and the subsequent retransfer of or granting of a security interest in such EIP Receivables to the administrative agent under the EIP Financing Facility. The SPV Borrower is a separate legal entity with its own separate creditors who will be entitled, upon its liquidation, to be satisfied out of the SPV Borrower’s assets prior to any assets or value in the SPV Borrower becoming
available to the SPV Borrower’s equity holders, and the assets of the SPV Borrower are not available to pay creditors of any other affiliate of the Company.

The EIP Financing Facility is accounted for on a consolidated basis as a secured borrowing. As of June 30, 2026 and December 31, 2025, pledged EIP Receivables with an unpaid principal balance of $2.3 billion and $2.2 billion, respectively, included in accounts receivable, net and other noncurrent assets, and restricted cash of $90 million and $121 million, respectively, included in prepaid expenses and other current assets, are held by the SPV Borrower and reflected in the Company’s consolidated balance sheets. Receipts from mobile customers related to the underlying EIP Receivables are reflected as cash flows from operating activities and borrowings and repayments under the EIP Financing Facility are reflected as cash flows from financing activities in the Company’s consolidated statements of cash flows.
0.0482 0.0514 2000000000.0 1600000000 1400000000 2300000000 2200000000 90000000 121000000 Common Stock
The following represents the Company's purchase of Charter Class A common stock and the effect on the consolidated statements of cash flows during the three and six months ended June 30, 2026 and 2025.

Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Shares$Shares$Shares$Shares$
Share buybacks 3,996,545 $838 3,832,505 $1,443 8,284,640 $1,801 5,837,900 $2,174 
Income tax withholding61,213 14 19,342 8 390,125 77 221,416 79 
Exercise cost1,585,169 — 92,580 — 1,649,981 — 161,746 — 
5,642,927 $852 3,944,427 $1,451 10,324,746 $1,878 6,221,062 $2,253 

Share buybacks above include shares of Charter Class A common stock purchased from Liberty Broadband Corporation (“Liberty Broadband”) as follows:

Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Number of shares purchased1,936,837 808,841 2,807,590 1,634,261 
Amount of shares purchased$405 $300 $595 $600 

As of June 30, 2026, Charter had remaining board authority to purchase an additional $365 million of Charter’s Class A common stock and/or Charter Holdings common units, excluding purchases from Liberty Broadband. The Company also withholds shares of its Class A common stock in payment of income tax withholding owed by employees upon vesting of equity awards as well as exercise costs owed by employees upon exercise of stock options.
In 2025, Charter’s board of directors approved the retirement of the then currently held treasury stock and those shares were retired as of December 31, 2025. The Company accounts for treasury stock using the cost method and includes treasury stock as a component of total shareholders’ equity.
The following represents the Company's purchase of Charter Class A common stock and the effect on the consolidated statements of cash flows during the three and six months ended June 30, 2026 and 2025.

Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Shares$Shares$Shares$Shares$
Share buybacks 3,996,545 $838 3,832,505 $1,443 8,284,640 $1,801 5,837,900 $2,174 
Income tax withholding61,213 14 19,342 8 390,125 77 221,416 79 
Exercise cost1,585,169 — 92,580 — 1,649,981 — 161,746 — 
5,642,927 $852 3,944,427 $1,451 10,324,746 $1,878 6,221,062 $2,253 

Share buybacks above include shares of Charter Class A common stock purchased from Liberty Broadband Corporation (“Liberty Broadband”) as follows:

Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Number of shares purchased1,936,837 808,841 2,807,590 1,634,261 
Amount of shares purchased$405 $300 $595 $600 
3996545 838000000 3832505 1443000000 8284640 1801000000 5837900 2174000000 61213 14000000 19342 8000000 390125 77000000 221416 79000000 1585169 92580 1649981 161746 5642927 852000000 3944427 1451000000 10324746 1878000000 6221062 2253000000 1936837 808841 2807590 1634261 405000000 300000000 595000000 600000000 365000000 Noncontrolling Interests
Noncontrolling interests represents consolidated subsidiaries of which the Company owns less than 100%. The Company is a holding company whose principal asset is a controlling equity interest in Charter Holdings, the indirect owner of the Company’s cable systems. Noncontrolling interests on the Company’s balance sheet consist primarily of Advance/Newhouse Partnership's (“A/N”) equity interests in Charter Holdings, which is comprised of a common ownership interest.

Net income of Charter Holdings attributable to A/N’s common noncontrolling interest for financial reporting purposes is based on the weighted average effective common ownership interest of approximately 11%, and was $232 million and $431 million for the three and six months ended June 30, 2026, respectively, and $194 million and $385 million for the three and six months ended June 30, 2025, respectively.
The following table represents Charter Holdings' purchase of Charter Holdings common units from A/N and the effect on total shareholders' equity during the three and six months ended June 30, 2025. Charter Holdings did not purchase any Charter Holdings common units from A/N during the three and six months ended June 30, 2026.

Three Months Ended June 30, 2025Six Months Ended June 30, 2025
Number of units purchased631,663 683,336 
Purchase of noncontrolling interest$232 $252 
Carrying value of noncontrolling interest purchased$(171)$(185)
Excess purchased recorded to additional paid-in-capital, net of tax$(45)$(50)

Total shareholders' equity was also adjusted during the three and six months ended June 30, 2026 and 2025 due to the changes in Charter Holdings' ownership as follows:

Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Change in noncontrolling interest $52 $(18)$74 $(38)
Change in additional paid-in-capital, net of tax$(39)$14 $(56)$29 
1 0.11 0.11 232000000 431000000 194000000 385000000
The following table represents Charter Holdings' purchase of Charter Holdings common units from A/N and the effect on total shareholders' equity during the three and six months ended June 30, 2025. Charter Holdings did not purchase any Charter Holdings common units from A/N during the three and six months ended June 30, 2026.

Three Months Ended June 30, 2025Six Months Ended June 30, 2025
Number of units purchased631,663 683,336 
Purchase of noncontrolling interest$232 $252 
Carrying value of noncontrolling interest purchased$(171)$(185)
Excess purchased recorded to additional paid-in-capital, net of tax$(45)$(50)
631663 683336 232000000 252000000 171000000 185000000 45000000 50000000
Total shareholders' equity was also adjusted during the three and six months ended June 30, 2026 and 2025 due to the changes in Charter Holdings' ownership as follows:

Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Change in noncontrolling interest $52 $(18)$74 $(38)
Change in additional paid-in-capital, net of tax$(39)$14 $(56)$29 
52000000 -18000000 74000000 -38000000 -39000000 14000000 -56000000 29000000 Accounting for Derivative Instruments and Hedging Activities
Cross-currency derivative instruments are used to manage foreign exchange risk on the Sterling Notes by effectively converting £1.275 billion aggregate principal amount of fixed-rate British pound sterling denominated debt, including annual interest payments and the payment of principal at maturity, to fixed-rate U.S. dollar denominated debt. The fair value of the Company's cross-currency derivatives, which are classified within Level 2 of the valuation hierarchy, was $442 million and $406 million and is included in other long-term liabilities on its consolidated balance sheets as of June 30, 2026 and December 31, 2025, respectively.

The effect of financial instruments are recorded in other income (expenses), net in the consolidated statements of operations and consisted of the following.
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Change in fair value of cross-currency derivative instruments
$41 $124 $(35)$111 
Foreign currency remeasurement of Sterling Notes to U.S. dollars
(4)(104)27 (156)
Gain (loss) on financial instruments, net$37 $20 $(8)$(45)
1275000000 442000000 406000000
The effect of financial instruments are recorded in other income (expenses), net in the consolidated statements of operations and consisted of the following.
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Change in fair value of cross-currency derivative instruments
$41 $124 $(35)$111 
Foreign currency remeasurement of Sterling Notes to U.S. dollars
(4)(104)27 (156)
Gain (loss) on financial instruments, net$37 $20 $(8)$(45)
41000000 124000000 -35000000 111000000 -4000000 -104000000 27000000 -156000000 37000000 20000000 -8000000 -45000000 Revenues
The Company’s revenues by product line are as follows:

Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Internet$5,776 $5,969 $11,628 $11,899 
Mobile service1,095 921 2,147 1,835 
Connectivity6,871 6,890 13,775 13,734 
Video3,149 3,488 6,401 7,068 
Voice331 346 669 702 
Residential revenue10,351 10,724 20,845 21,504 
Small business1,104 1,096 2,194 2,184 
Mid-market & large business761 740 1,510 1,474 
Commercial revenue1,865 1,836 3,704 3,658 
Advertising sales416 371 774 711 
Other894 835 1,800 1,628 
$13,526 $13,766 $27,123 $27,501 

As of June 30, 2026 and December 31, 2025, accounts receivable, net on the consolidated balance sheets includes approximately $1.4 billion and $1.3 billion of current equipment installment plan receivables, respectively, and other noncurrent assets includes approximately $1.2 billion and $1.1 billion of noncurrent equipment installment plan receivables, respectively.
The Company’s revenues by product line are as follows:

Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Internet$5,776 $5,969 $11,628 $11,899 
Mobile service1,095 921 2,147 1,835 
Connectivity6,871 6,890 13,775 13,734 
Video3,149 3,488 6,401 7,068 
Voice331 346 669 702 
Residential revenue10,351 10,724 20,845 21,504 
Small business1,104 1,096 2,194 2,184 
Mid-market & large business761 740 1,510 1,474 
Commercial revenue1,865 1,836 3,704 3,658 
Advertising sales416 371 774 711 
Other894 835 1,800 1,628 
$13,526 $13,766 $27,123 $27,501 
5776000000 5969000000 11628000000 11899000000 1095000000 921000000 2147000000 1835000000 6871000000 6890000000 13775000000 13734000000 3149000000 3488000000 6401000000 7068000000 331000000 346000000 669000000 702000000 10351000000 10724000000 20845000000 21504000000 1104000000 1096000000 2194000000 2184000000 761000000 740000000 1510000000 1474000000 1865000000 1836000000 3704000000 3658000000 416000000 371000000 774000000 711000000 894000000 835000000 1800000000 1628000000 13526000000 13766000000 27123000000 27501000000 1400000000 1300000000 1200000000 1100000000 Segment Reporting
The Company’s operations are managed and reported to its Chief Executive Officer (“CEO”), the Company’s chief operating decision maker (“CODM”), on a consolidated basis. The Company provides broadband connectivity services with all of its services delivered to customers over an advanced communications network. The CODM assesses performance and allocates resources based on the Company’s consolidated statements of operations, as the converged network requires the CODM to manage and evaluate the results of the business in a consolidated manner to drive efficiencies and develop uniform strategies. Accordingly, key components and processes of the Company’s operations are managed centrally, including contracting for programming, capital and new technology development and deployment, plant engineering, customer service, marketing, legal and government affairs. Segment asset information is not used by the CODM to allocate resources. Under this organizational and reporting structure, the Company has one reportable segment.

As a single reportable segment entity, the Company’s segment performance measure is net income attributable to Charter shareholders. See Note 9 for a description of the Company's disaggregated revenues by product line. Significant segment expenses are presented in the Company’s consolidated statements of operations. Additional disaggregated significant segment
expenses on a functional basis, that are not separately presented on the Company’s consolidated statements of operations, are presented below.

Operating Costs and Expenses

Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Programming$2,035 $2,253 $4,123 $4,555 
Other costs of revenue1,837 1,651 3,602 3,235 
Field and technology operations1,313 1,292 2,571 2,574 
Customer operations785 777 1,551 1,549 
Marketing and residential sales927 958 1,846 1,907 
Stock compensation expense (see Note 11)138 157 341 379 
Transition expenses65 — 89 — 
Other expense1,115 1,142 2,255 2,225 
$8,215 $8,230 $16,378 $16,424 

Programming costs consist primarily of costs paid to programmers for basic, premium, video on demand and pay-per-view programming. Other costs of revenue include costs directly related to providing Internet, mobile, video and voice services including mobile device costs, payments to franchise and regulatory authorities, payments for sports, local and news content produced by the Company and direct costs associated with selling advertising. Also included in other costs of revenue are content acquisition costs for the Los Angeles Lakers’ basketball games and Los Angeles Dodgers’ baseball games, which are recorded as games are exhibited over the contract period. Field and technology operations costs include indirect costs incurred to manage the Company's inside and outside cable network, including labor for the non-capitalizable portion of customer installations and service and repairs. Customer operations costs include call center labor costs for customer care, billing costs, bad debt expense, and collections. Marketing and residential sales costs represent the costs of marketing residential and business Internet, mobile, video and voice services and costs to sell to current and potential non-bulk residential customers, including labor cost. Transition expenses represent incremental costs incurred to prepare for the integration of Cox Communications’ operations and to bring systems and processes into a uniform operating structure. See Note 2. Other expense includes corporate overhead costs, as well as certain indirect costs associated with Spectrum Business, Spectrum Reach, Spectrum Networks and Spectrum Community Solutions, including related sales expenses.

Other Operating Expenses, Net

Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Special charges, net$43 $29 $41 $60 
Merger and acquisition costs8 43 23 44 
Loss on disposal of assets, net— 9 2 100 
$51 $81 $66 $204 

Special charges, net primarily includes severance costs and net amounts of litigation settlements. Merger and acquisition costs represent costs incurred primarily in connection with the Cox Transactions, such as advisory, legal and accounting fees, among others. Loss on disposal of assets, net includes a $90 million impairment on non-strategic assets during the six months ended June 30, 2025.
Other Income (Expenses), Net

Other income (expenses), net consist of the following for the periods presented:

Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Loss on equity investments, net$(68)$(127)$(143)$(204)
Gain (loss) on financial instruments, net (see Note 8)37 20 (8)(45)
Gain on extinguishment of debt, net (see Note 4)243 — 239 — 
$212 $(107)$88 $(249)
The Company’s operations are managed and reported to its Chief Executive Officer (“CEO”), the Company’s chief operating decision maker (“CODM”), on a consolidated basis. The Company provides broadband connectivity services with all of its services delivered to customers over an advanced communications network. The CODM assesses performance and allocates resources based on the Company’s consolidated statements of operations, as the converged network requires the CODM to manage and evaluate the results of the business in a consolidated manner to drive efficiencies and develop uniform strategies. Accordingly, key components and processes of the Company’s operations are managed centrally, including contracting for programming, capital and new technology development and deployment, plant engineering, customer service, marketing, legal and government affairs. Segment asset information is not used by the CODM to allocate resources. Under this organizational and reporting structure, the Company has one reportable segment.
1 Additional disaggregated significant segment
expenses on a functional basis, that are not separately presented on the Company’s consolidated statements of operations, are presented below.

Operating Costs and Expenses

Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Programming$2,035 $2,253 $4,123 $4,555 
Other costs of revenue1,837 1,651 3,602 3,235 
Field and technology operations1,313 1,292 2,571 2,574 
Customer operations785 777 1,551 1,549 
Marketing and residential sales927 958 1,846 1,907 
Stock compensation expense (see Note 11)138 157 341 379 
Transition expenses65 — 89 — 
Other expense1,115 1,142 2,255 2,225 
$8,215 $8,230 $16,378 $16,424 

Programming costs consist primarily of costs paid to programmers for basic, premium, video on demand and pay-per-view programming. Other costs of revenue include costs directly related to providing Internet, mobile, video and voice services including mobile device costs, payments to franchise and regulatory authorities, payments for sports, local and news content produced by the Company and direct costs associated with selling advertising. Also included in other costs of revenue are content acquisition costs for the Los Angeles Lakers’ basketball games and Los Angeles Dodgers’ baseball games, which are recorded as games are exhibited over the contract period. Field and technology operations costs include indirect costs incurred to manage the Company's inside and outside cable network, including labor for the non-capitalizable portion of customer installations and service and repairs. Customer operations costs include call center labor costs for customer care, billing costs, bad debt expense, and collections. Marketing and residential sales costs represent the costs of marketing residential and business Internet, mobile, video and voice services and costs to sell to current and potential non-bulk residential customers, including labor cost. Transition expenses represent incremental costs incurred to prepare for the integration of Cox Communications’ operations and to bring systems and processes into a uniform operating structure. See Note 2. Other expense includes corporate overhead costs, as well as certain indirect costs associated with Spectrum Business, Spectrum Reach, Spectrum Networks and Spectrum Community Solutions, including related sales expenses.

Other Operating Expenses, Net

Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Special charges, net$43 $29 $41 $60 
Merger and acquisition costs8 43 23 44 
Loss on disposal of assets, net— 9 2 100 
$51 $81 $66 $204 

Special charges, net primarily includes severance costs and net amounts of litigation settlements. Merger and acquisition costs represent costs incurred primarily in connection with the Cox Transactions, such as advisory, legal and accounting fees, among others. Loss on disposal of assets, net includes a $90 million impairment on non-strategic assets during the six months ended June 30, 2025.
Other Income (Expenses), Net

Other income (expenses), net consist of the following for the periods presented:

Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Loss on equity investments, net$(68)$(127)$(143)$(204)
Gain (loss) on financial instruments, net (see Note 8)37 20 (8)(45)
Gain on extinguishment of debt, net (see Note 4)243 — 239 — 
$212 $(107)$88 $(249)
2035000000 2253000000 4123000000 4555000000 1837000000 1651000000 3602000000 3235000000 1313000000 1292000000 2571000000 2574000000 785000000 777000000 1551000000 1549000000 927000000 958000000 1846000000 1907000000 138000000 157000000 341000000 379000000 65000000 0 89000000 0 1115000000 1142000000 2255000000 2225000000 8215000000 8230000000 16378000000 16424000000 43000000 29000000 41000000 60000000 8000000 43000000 23000000 44000000 0 -9000000 -2000000 -100000000 -51000000 -81000000 -66000000 -204000000 90000000 -68000000 -127000000 -143000000 -204000000 37000000 20000000 -8000000 -45000000 243000000 0 239000000 0 212000000 -107000000 88000000 -249000000 Stock Compensation Plans
Charter’s stock incentive plans provide for grants of nonqualified stock options, incentive stock options, stock appreciation rights, dividend equivalent rights, performance units and performance shares, share awards, phantom stock, restricted stock units and restricted stock.  Directors, officers and other employees of the Company and its subsidiaries, as well as others performing consulting services for the Company, are eligible for grants under the stock incentive plans.

Charter granted the following equity awards for the periods presented.

Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Stock options52,100 39,600 2,431,100 1,447,300 
Restricted stock15,000 11,500 15,300 11,500 
Restricted stock units136,700 28,300 2,177,300 1,183,500 

Stock options and restricted stock units generally cliff vest three years from the date of grant. Certain stock options and restricted stock units vest based on achievement of stock price hurdles. Stock options generally expire ten years from the grant date and restricted stock units have no voting rights. Restricted stock generally vests one year from the date of grant.
As of June 30, 2026, total unrecognized compensation remaining to be recognized in future periods totaled $253 million for stock options, $549 million for restricted stock units and $3 million for restricted stock and the weighted average period over which they are expected to be recognized is two years for stock options and restricted stock units and ten months for restricted stock.
Charter granted the following equity awards for the periods presented.

Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Stock options52,100 39,600 2,431,100 1,447,300 
Restricted stock15,000 11,500 15,300 11,500 
Restricted stock units136,700 28,300 2,177,300 1,183,500 
52100 39600 2431100 1447300 15000 11500 15300 11500 136700 28300 2177300 1183500 P3Y P3Y P10Y P1Y 253000000 549000000 3000000 P2Y P2Y P10M Earnings Per Share
Basic earnings per common share is computed by dividing net income attributable to Charter shareholders by the weighted average number of shares of common stock outstanding during the period. Diluted earnings per common share considers the impact of potentially dilutive securities using the treasury stock and if-converted methods and is based on the weighted average number of shares used for the basic earnings per share calculation, adjusted for the dilutive effect of stock options, restricted stock units, restricted stock, equity awards with market conditions and Charter Holdings common units. Charter Holdings common units of 16 million for the three and six months ended June 30, 2026 and 2025 were not included in the computation of diluted earnings per share as their effect would have been antidilutive.
The following is the computation of diluted earnings per common share for the periods presented.

Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Numerator:
Net income attributable to Charter shareholders$1,292 $1,301 $2,455 $2,518 
Denominator:
Weighted average common shares outstanding, basic120,121,017 138,205,810 122,789,924 139,889,251 
Effect of dilutive securities:
Assumed exercise or issuance of shares relating to
stock plans		1,134,650 3,478,605 1,179,338 3,209,242 
Weighted average common shares outstanding, diluted121,255,667 141,684,415 123,969,262 143,098,493 
Basic earnings per common share attributable to
Charter shareholders		$10.76 $9.41 $20.00 $18.00 
Diluted earnings per common share attributable to Charter shareholders$10.66 $9.18 $19.81 $17.59 
16000000 16000000 16000000 16000000
The following is the computation of diluted earnings per common share for the periods presented.

Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Numerator:
Net income attributable to Charter shareholders$1,292 $1,301 $2,455 $2,518 
Denominator:
Weighted average common shares outstanding, basic120,121,017 138,205,810 122,789,924 139,889,251 
Effect of dilutive securities:
Assumed exercise or issuance of shares relating to
stock plans		1,134,650 3,478,605 1,179,338 3,209,242 
Weighted average common shares outstanding, diluted121,255,667 141,684,415 123,969,262 143,098,493 
Basic earnings per common share attributable to
Charter shareholders		$10.76 $9.41 $20.00 $18.00 
Diluted earnings per common share attributable to Charter shareholders$10.66 $9.18 $19.81 $17.59 
1292000000 1301000000 2455000000 2518000000 120121017 138205810 122789924 139889251 1134650 3478605 1179338 3209242 121255667 141684415 123969262 143098493 10.76 9.41 20.00 18.00 10.66 9.18 19.81 17.59 Related Party Transactions
On November 12, 2024, Charter, Liberty Broadband, Fusion Merger Sub 1, LLC, a wholly owned subsidiary of Charter, and Fusion Merger Sub 2, Inc., a wholly owned subsidiary of Fusion Merger Sub 1, LLC, entered into an Agreement and Plan of Merger (as it may be amended or supplemented from time to time, the “Merger Agreement”), pursuant to which, subject to the terms and conditions set forth therein, Charter will acquire Liberty Broadband through the merger of Fusion Merger Sub 2, Inc. with and into Liberty Broadband (the “Merger”), with Liberty Broadband surviving the Merger and becoming an indirect wholly owned subsidiary of Charter. Immediately following the Merger, Liberty Broadband, as the surviving corporation of the Merger, will merge with and into Fusion Merger Sub 1, LLC (the “Upstream Merger” and together with the Merger, the “Liberty Broadband Combination”), with Fusion Merger Sub 1, LLC surviving the Upstream Merger as a wholly owned subsidiary of Charter.

On November 12, 2024, Charter and Liberty Broadband also entered into Amendment No. 1 to the Second Amended and Restated Stockholders Agreement and the Letter Agreement (the “Stockholders and Letter Agreement Amendment”). The Stockholders and Letter Agreement Amendment sets forth, among other things, the terms of Liberty Broadband’s participation in Charter’s share repurchases during the period between the execution of the Merger Agreement and the effective time of the Merger. Pursuant to the Stockholders and Letter Agreement Amendment, each month during the pendency of the proposed transaction, Charter will repurchase shares of Charter Class A common stock from Liberty Broadband in an amount equal to the greater of (i) $100 million and (ii) the Liberty Broadband minimum liquidity threshold as set forth in the Stockholders and Letter Agreement Amendment, provided that if any repurchase would reduce Liberty Broadband’s equity interest in Charter below 25.25% after giving effect to such repurchase or if all or a portion of such repurchase is not permitted under applicable law, then Charter shall instead loan to Liberty Broadband an amount equal to the lesser of (x) the repurchase amount that cannot be repurchased and (y) the Liberty Broadband minimum liquidity threshold as set forth in the Stockholders and Letter Agreement Amendment less the repurchase amount that is repurchased, with such loan on the terms set forth in the Stockholders and Letter Agreement Amendment. Pursuant to the Merger Agreement and Stockholders and Letter Agreement Amendment, in May 2026, Charter advanced a term loan to Liberty Broadband in the aggregate principal amount of approximately $359 million included in other noncurrent assets on the consolidated balance sheets as of June 30, 2026.
100000000 0.2525 359000000