Git branch in Ubuntu terminal

This is the code I added to ~/.bashrc around line 59. It affects the CLI prompt in the Ubuntu terminal in a number of ways.

1. It removes the username and computer name.
2. It adds the open Git branch, if one exists.
3. It adds a new line at the end, because some path's get very long, and don't give you much room to add your commands. 

parse_git_branch() {

 git branch 2> /dev/null | sed -e '/^[^*]/d' -e 's/* \(.*\)/(\1)/'

}

if [ "$color_prompt" = yes ]; then

 PS1='${debian_chroot:+($debian_chroot)}\[\033[01;32m\]\[\033[01;34m\]\w\[\033[01;32m\] $(parse_git_branch)\[\033[00m\]\n$ '

else

 PS1='${debian_chroot:+($debian_chroot)} $(parse_git_branch)\n$ '

fi