Financial Information for Tracking Stock Groups (Tables)
|
9 Months Ended |
Sep. 30, 2019 |
|---|
| Condensed Balance Sheet |
BALANCE SHEET INFORMATION
September 30, 2019
(unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
β |
β |
β |
Attributed (note 1) |
β |
β |
β |
β |
β |
β |
β |
Liberty |
β |
β |
β |
β |
β |
β |
β |
β |
β |
β |
β |
SiriusXM |
β |
Braves |
β |
Formula One |
β |
Inter-Group |
β |
Consolidated |
β |
β |
ΜύΜύΜύΜύ |
Group |
β |
Group |
β |
Group |
β |
Eliminations |
β |
Liberty |
ΜύΜύΜύΜύ |
β |
β |
²Ή³Ύ΄Η³ά²Τ³Ω²υΜύΎ±²ΤΜύ³ΎΎ±±τ±τΎ±΄Η²Τ²υ |
β |
Assets |
β |
β |
β |
β |
β |
β |
β |
β |
β |
β |
β |
β |
Current assets: |
β |
β |
β |
β |
β |
β |
β |
β |
β |
β |
β |
β |
Cash and cash equivalents |
β |
$ |
133 |
β |
142 |
β |
419 |
β |
β |
β |
694 |
Μύ |
Trade and other receivables, net |
β |
Μύ |
632 |
β |
49 |
β |
97 |
β |
β |
β |
778 |
Μύ |
Other current assets |
β |
Μύ |
225 |
β |
102 |
β |
137 |
β |
β |
β |
464 |
Μύ |
Total current assets |
β |
Μύ |
990 |
β |
293 |
β |
653 |
β |
β |
β |
1,936 |
Μύ |
Intergroup interest in the Liberty Braves Group (note 1) |
β |
β |
β |
β |
β |
β |
252 |
β |
(252) |
β |
β |
β |
Investments in affiliates, accounted for using the equity method (noteΜύ1) |
β |
Μύ |
638 |
β |
104 |
β |
956 |
β |
β |
β |
1,698 |
Μύ |
β |
β |
β |
β |
β |
β |
β |
β |
β |
β |
β |
β |
β |
Property and equipment, at cost |
β |
Μύ |
2,639 |
β |
883 |
β |
192 |
β |
β |
β |
3,714 |
Μύ |
Accumulated depreciation |
β |
Μύ |
(1,275) |
β |
(117) |
β |
(92) |
β |
β |
β |
(1,484) |
Μύ |
β |
β |
Μύ |
1,364 |
β |
766 |
β |
100 |
β |
β |
β |
2,230 |
Μύ |
β |
β |
β |
β |
β |
β |
β |
β |
β |
β |
β |
β |
β |
Intangible assets not subject to amortization |
β |
β |
β |
β |
β |
β |
β |
β |
β |
β |
β |
β |
Goodwill |
β |
Μύ |
15,816 |
β |
180 |
β |
3,956 |
β |
β |
β |
19,952 |
Μύ |
FCC licenses |
β |
Μύ |
8,600 |
β |
β |
β |
β |
β |
β |
β |
8,600 |
Μύ |
Other |
β |
Μύ |
1,262 |
β |
143 |
β |
β |
β |
β |
β |
1,405 |
Μύ |
β |
β |
Μύ |
25,678 |
β |
323 |
β |
3,956 |
β |
β |
β |
29,957 |
Μύ |
Intangible assets subject to amortization, net |
β |
Μύ |
1,632 |
β |
35 |
β |
4,412 |
β |
β |
β |
6,079 |
Μύ |
Other assets |
β |
Μύ |
702 |
β |
73 |
β |
1,032 |
β |
(62) |
β |
1,745 |
Μύ |
Total assets |
β |
$ |
31,004 |
β |
1,594 |
β |
11,361 |
β |
(314) |
β |
43,645 |
Μύ |
β |
β |
β |
β |
β |
β |
β |
β |
β |
β |
β |
β |
β |
Liabilities and Equity |
β |
β |
β |
β |
β |
β |
β |
β |
β |
β |
β |
β |
Current liabilities: |
β |
β |
β |
β |
β |
β |
β |
β |
β |
β |
β |
β |
Intergroup payable (receivable) (note 3) |
β |
$ |
4 |
β |
(7) |
β |
3 |
β |
β |
β |
β |
β |
Accounts payable and accrued liabilities |
β |
β |
1,240 |
Μύ |
57 |
β |
240 |
β |
β |
β |
1,537 |
β |
Deferred revenue |
β |
Μύ |
1,938 |
Μύ |
52 |
β |
245 |
β |
β |
β |
2,235 |
β |
Other current liabilities |
β |
Μύ |
74 |
Μύ |
17 |
β |
19 |
β |
β |
β |
110 |
β |
Total current liabilities |
β |
Μύ |
3,256 |
Μύ |
119 |
β |
507 |
β |
β |
β |
3,882 |
β |
Long-term debt (note 1) |
β |
Μύ |
8,857 |
Μύ |
521 |
β |
5,329 |
β |
β |
β |
14,707 |
β |
Deferred income tax liabilities |
β |
Μύ |
1,856 |
Μύ |
78 |
β |
β |
β |
(62) |
β |
1,872 |
β |
Redeemable intergroup interest (note 1) |
β |
β |
β |
β |
252 |
β |
β |
β |
(252) |
β |
β |
β |
Other liabilities |
β |
Μύ |
634 |
Μύ |
206 |
β |
166 |
β |
β |
β |
1,006 |
β |
Total liabilities |
β |
Μύ |
14,603 |
Μύ |
1,176 |
β |
6,002 |
β |
(314) |
β |
21,467 |
β |
Equity / Attributed net assets |
β |
Μύ |
10,735 |
Μύ |
426 |
β |
5,356 |
β |
β |
β |
16,517 |
β |
Noncontrolling interests in equity of subsidiaries |
β |
Μύ |
5,666 |
Μύ |
(8) |
β |
3 |
β |
β |
β |
5,661 |
β |
Total liabilities and equity |
β |
$ |
31,004 |
Μύ |
1,594 |
β |
11,361 |
β |
(314) |
β |
43,645 |
β |
|
| Condensed Statement of Operations |
STATEMENT OF OPERATIONS INFORMATION
Three months ended September 30, 2019
(unaudited)
β
|
|
|
|
|
|
|
|
|
|
|
β |
β |
β |
Attributed (note 1) |
β |
β |
β |
β |
β |
Liberty |
β |
β |
β |
β |
β |
β |
β |
β |
β |
SiriusXM |
β |
Braves |
β |
Formula One |
β |
Consolidated |
β |
β |
β |
Group |
β |
Group |
β |
Group |
β |
Liberty |
β |
β |
β |
amounts in millions |
β |
Revenue: |
β |
β |
β |
β |
β |
β |
β |
β |
β |
β |
SIRIUS XM Holdings revenue |
β |
$ |
2,011 |
Μύ |
β |
β |
β |
β |
2,011 |
β |
Formula 1 revenue |
β |
β |
β |
β |
β |
β |
633 |
β |
633 |
β |
Other revenue |
β |
Μύ |
β |
Μύ |
212 |
β |
β |
β |
212 |
β |
Total revenue |
β |
Μύ |
2,011 |
Μύ |
212 |
β |
633 |
β |
2,856 |
β |
Operating costs and expenses, including stock-based compensation (note 2): |
β |
β |
β |
β |
β |
β |
β |
β |
β |
β |
Cost of services (exclusive of depreciation shown separately below): |
β |
β |
β |
β |
β |
β |
β |
β |
β |
β |
Revenue share and royalties |
β |
Μύ |
592 |
Μύ |
β |
β |
β |
β |
592 |
β |
Programming and content |
β |
Μύ |
116 |
Μύ |
β |
β |
β |
β |
116 |
β |
Customer service and billing |
β |
Μύ |
120 |
Μύ |
β |
β |
β |
β |
120 |
β |
Other |
β |
Μύ |
52 |
Μύ |
β |
β |
β |
β |
52 |
β |
Cost of Formula 1 revenue |
β |
β |
β |
β |
β |
β |
434 |
β |
434 |
β |
Subscriber acquisition costs |
β |
Μύ |
101 |
Μύ |
β |
β |
β |
β |
101 |
β |
Other operating expenses |
β |
Μύ |
78 |
Μύ |
145 |
β |
β |
β |
223 |
β |
Selling, general and administrative |
β |
Μύ |
363 |
Μύ |
26 |
β |
51 |
β |
440 |
β |
Depreciation and amortization |
β |
Μύ |
135 |
Μύ |
20 |
β |
116 |
β |
271 |
β |
β |
β |
Μύ |
1,557 |
Μύ |
191 |
β |
601 |
β |
2,349 |
β |
Operating income (loss) |
β |
Μύ |
454 |
Μύ |
21 |
β |
32 |
β |
507 |
β |
Other income (expense): |
β |
β |
β |
β |
β |
β |
β |
β |
β |
β |
Interest expense |
β |
Μύ |
(115) |
Μύ |
(6) |
β |
(48) |
β |
(169) |
β |
Share of earnings (losses) of affiliates, net |
β |
Μύ |
(7) |
Μύ |
4 |
β |
58 |
β |
55 |
β |
Realized and unrealized gains (losses) on financial instruments, net |
β |
Μύ |
(10) |
Μύ |
(2) |
β |
26 |
β |
14 |
β |
Unrealized gains (losses) on intergroup interest (note 1) |
β |
β |
β |
β |
2 |
β |
(2) |
β |
β |
β |
Other, net |
β |
Μύ |
(51) |
Μύ |
β |
β |
4 |
β |
(47) |
β |
β |
β |
Μύ |
(183) |
Μύ |
(2) |
β |
38 |
β |
(147) |
β |
Earnings (loss) before income taxes |
β |
Μύ |
271 |
Μύ |
19 |
β |
70 |
β |
360 |
β |
Income tax (expense) benefit |
β |
Μύ |
(63) |
Μύ |
(7) |
β |
(28) |
β |
(98) |
β |
Net earnings (loss) |
β |
Μύ |
208 |
Μύ |
12 |
β |
42 |
β |
262 |
β |
Less net earnings (loss) attributable to the noncontrolling interests |
β |
Μύ |
68 |
Μύ |
β |
β |
1 |
β |
69 |
β |
Net earnings (loss) attributable to Liberty stockholders |
β |
$ |
140 |
Μύ |
12 |
β |
41 |
β |
193 |
β |
β
STATEMENT OF OPERATIONS INFORMATION
Three months ended September 30, 2018
(unaudited)
β
|
|
|
|
|
|
|
|
|
|
|
β |
β |
β |
Attributed (note 1) |
β |
β |
β |
β |
β |
Liberty |
β |
β |
β |
β |
β |
β |
β |
β |
β |
SiriusXM |
β |
Braves |
β |
Formula One |
β |
Consolidated |
β |
β |
β |
Group |
β |
Group |
β |
Group |
β |
Liberty |
β |
β |
β |
amounts in millions |
β |
Revenue: |
β |
β |
β |
β |
β |
β |
β |
β |
β |
β |
SIRIUS XM Holdings revenue |
β |
$ |
1,468 |
Μύ |
β |
β |
β |
β |
1,468 |
β |
Formula 1 revenue |
β |
β |
β |
β |
β |
β |
647 |
β |
647 |
β |
Other revenue |
β |
Μύ |
β |
Μύ |
200 |
β |
β |
β |
200 |
β |
Total revenue |
β |
Μύ |
1,468 |
Μύ |
200 |
β |
647 |
β |
2,315 |
β |
Operating costs and expenses, including stock-based compensation (note 2): |
β |
β |
β |
β |
β |
β |
β |
β |
β |
β |
Cost of services (exclusive of depreciation shown separately below): |
β |
β |
β |
β |
β |
β |
β |
β |
β |
β |
Revenue share and royalties |
β |
Μύ |
343 |
Μύ |
β |
β |
β |
β |
343 |
β |
Programming and content |
β |
Μύ |
97 |
Μύ |
β |
β |
β |
β |
97 |
β |
Customer service and billing |
β |
Μύ |
95 |
Μύ |
β |
β |
β |
β |
95 |
β |
Other |
β |
Μύ |
30 |
Μύ |
β |
β |
β |
β |
30 |
β |
Cost of Formula 1 revenue |
β |
β |
β |
β |
β |
β |
450 |
β |
450 |
β |
Subscriber acquisition costs |
β |
Μύ |
110 |
β |
β |
β |
β |
β |
110 |
β |
Other operating expenses |
β |
Μύ |
31 |
Μύ |
106 |
β |
β |
β |
137 |
β |
Selling, general and administrative |
β |
Μύ |
214 |
Μύ |
26 |
β |
48 |
β |
288 |
β |
Depreciation and amortization |
β |
Μύ |
93 |
Μύ |
23 |
β |
118 |
β |
234 |
β |
β |
β |
Μύ |
1,013 |
Μύ |
155 |
β |
616 |
β |
1,784 |
β |
Operating income (loss) |
β |
Μύ |
455 |
Μύ |
45 |
β |
31 |
β |
531 |
β |
Other income (expense): |
β |
β |
β |
β |
β |
β |
β |
β |
β |
β |
Interest expense |
β |
Μύ |
(95) |
Μύ |
(6) |
β |
(49) |
β |
(150) |
β |
Share of earnings (losses) of affiliates, net |
β |
Μύ |
(2) |
Μύ |
2 |
β |
58 |
β |
58 |
β |
Realized and unrealized gains (losses) on financial instruments, net |
β |
Μύ |
(51) |
Μύ |
1 |
β |
19 |
β |
(31) |
β |
Unrealized gains (losses) on intergroup interest (note 1) |
β |
β |
β |
β |
(13) |
β |
13 |
β |
β |
β |
Other, net |
β |
Μύ |
6 |
Μύ |
β |
β |
4 |
β |
10 |
β |
β |
β |
Μύ |
(142) |
Μύ |
(16) |
β |
45 |
β |
(113) |
β |
Earnings (loss) before income taxes |
β |
Μύ |
313 |
Μύ |
29 |
β |
76 |
β |
418 |
β |
Income tax (expense) benefit |
β |
Μύ |
(30) |
Μύ |
12 |
β |
(34) |
β |
(52) |
β |
Net earnings (loss) |
β |
Μύ |
283 |
Μύ |
41 |
β |
42 |
β |
366 |
β |
Less net earnings (loss) attributable to the noncontrolling interests |
β |
Μύ |
98 |
Μύ |
β |
β |
β |
β |
98 |
β |
Net earnings (loss) attributable to Liberty stockholders |
β |
$ |
185 |
Μύ |
41 |
β |
42 |
β |
268 |
β |
β
STATEMENT OF OPERATIONS INFORMATION
Nine months ended September 30, 2019
(unaudited)
β
|
|
|
|
|
|
|
|
|
|
|
β |
β |
β |
Attributed (note 1) |
β |
β |
β |
β |
β |
Liberty |
β |
β |
β |
β |
β |
β |
β |
β |
β |
SiriusXM |
β |
Braves |
β |
Formula One |
β |
Consolidated |
β |
β |
β |
Group |
β |
Group |
β |
Group |
β |
Liberty |
β |
β |
β |
amounts in millions |
β |
Revenue: |
β |
β |
β |
β |
β |
β |
β |
β |
β |
β |
SIRIUS XM Holdings revenue |
β |
$ |
5,732 |
Μύ |
β |
β |
β |
β |
5,732 |
β |
Formula 1 revenue |
β |
β |
β |
β |
β |
β |
1,499 |
β |
1,499 |
β |
Other revenue |
β |
Μύ |
β |
Μύ |
442 |
β |
β |
β |
442 |
β |
Total revenue |
β |
Μύ |
5,732 |
Μύ |
442 |
β |
1,499 |
β |
7,673 |
β |
Operating costs and expenses, including stock-based compensation (note 2): |
β |
β |
β |
β |
β |
β |
β |
β |
β |
β |
Cost of subscriber services (exclusive of depreciation shown separately below): |
β |
β |
β |
β |
β |
β |
β |
β |
β |
β |
Revenue share and royalties |
β |
Μύ |
1,684 |
Μύ |
β |
β |
β |
β |
1,684 |
β |
Programming and content |
β |
Μύ |
338 |
Μύ |
β |
β |
β |
β |
338 |
β |
Customer service and billing |
β |
Μύ |
352 |
Μύ |
β |
β |
β |
β |
352 |
β |
Other |
β |
Μύ |
136 |
Μύ |
β |
β |
β |
β |
136 |
β |
Cost of Formula 1 revenue |
β |
β |
β |
β |
β |
β |
1,023 |
β |
1,023 |
β |
Subscriber acquisition costs |
β |
Μύ |
313 |
Μύ |
β |
β |
β |
β |
313 |
β |
Other operating expenses |
β |
Μύ |
206 |
Μύ |
305 |
β |
β |
β |
511 |
β |
Selling, general and administrative |
β |
Μύ |
1,050 |
Μύ |
77 |
β |
148 |
β |
1,275 |
β |
Acquisition and other related costs |
β |
β |
83 |
Μύ |
β |
β |
β |
β |
83 |
β |
Depreciation and amortization |
β |
Μύ |
396 |
Μύ |
54 |
β |
340 |
β |
790 |
β |
β |
β |
Μύ |
4,558 |
Μύ |
436 |
β |
1,511 |
β |
6,505 |
β |
Operating income (loss) |
β |
Μύ |
1,174 |
Μύ |
6 |
β |
(12) |
β |
1,168 |
β |
Other income (expense): |
β |
β |
β |
β |
β |
β |
β |
β |
β |
β |
Interest expense |
β |
Μύ |
(326) |
Μύ |
(20) |
β |
(149) |
β |
(495) |
β |
Share of earnings (losses) of affiliates, net |
β |
Μύ |
(18) |
Μύ |
13 |
β |
74 |
β |
69 |
β |
Realized and unrealized gains (losses) on financial instruments, net |
β |
Μύ |
6 |
Μύ |
(6) |
β |
(171) |
β |
(171) |
β |
Unrealized gains (losses) on intergroup interest (note 1) |
β |
β |
β |
β |
(26) |
β |
26 |
β |
β |
β |
Other, net |
β |
Μύ |
(42) |
Μύ |
1 |
β |
23 |
β |
(18) |
β |
β |
β |
Μύ |
(380) |
Μύ |
(38) |
β |
(197) |
β |
(615) |
β |
Earnings (loss) before income taxes |
β |
Μύ |
794 |
Μύ |
(32) |
β |
(209) |
β |
553 |
β |
Income tax (expense) benefit |
β |
Μύ |
(251) |
Μύ |
(1) |
β |
26 |
β |
(226) |
β |
Net earnings (loss) |
β |
Μύ |
543 |
Μύ |
(33) |
β |
(183) |
β |
327 |
β |
Less net earnings (loss) attributable to the noncontrolling interests |
β |
Μύ |
175 |
Μύ |
β |
β |
1 |
β |
176 |
β |
Net earnings (loss) attributable to Liberty stockholders |
β |
$ |
368 |
Μύ |
(33) |
β |
(184) |
β |
151 |
β |
β
STATEMENT OF OPERATIONS INFORMATION
Nine months ended September 30, 2018
(unaudited)
β
|
|
|
|
|
|
|
|
|
|
|
β |
β |
β |
Attributed (note 1) |
β |
β |
β |
β |
β |
Liberty |
β |
β |
β |
β |
β |
β |
β |
β |
β |
SiriusXM |
β |
Braves |
β |
Formula One |
β |
Consolidated |
β |
β |
β |
Group |
β |
Group |
β |
Group |
β |
Liberty |
β |
β |
β |
amounts in millions |
β |
Revenue: |
β |
β |
β |
β |
β |
β |
β |
β |
β |
β |
SIRIUS XM Holdings revenue |
β |
$ |
4,275 |
Μύ |
β |
β |
β |
β |
4,275 |
β |
Formula 1 revenue |
β |
β |
β |
β |
β |
β |
1,346 |
β |
1,346 |
β |
Other revenue |
β |
Μύ |
β |
Μύ |
410 |
β |
β |
β |
410 |
β |
Total revenue |
β |
Μύ |
4,275 |
Μύ |
410 |
β |
1,346 |
β |
6,031 |
β |
Operating costs and expenses, including stock-based compensation (note 2): |
β |
β |
β |
β |
β |
β |
β |
β |
β |
β |
Cost of services (exclusive of depreciation shown separately below): |
β |
β |
β |
β |
β |
β |
β |
β |
β |
β |
Revenue share and royalties |
β |
Μύ |
1,057 |
Μύ |
β |
β |
β |
β |
1,057 |
β |
Programming and content |
β |
Μύ |
303 |
Μύ |
β |
β |
β |
β |
303 |
β |
Customer service and billing |
β |
Μύ |
284 |
Μύ |
β |
β |
β |
β |
284 |
β |
Other |
β |
Μύ |
92 |
Μύ |
β |
β |
β |
β |
92 |
β |
Cost of Formula 1 revenue |
β |
β |
β |
β |
β |
β |
945 |
β |
945 |
β |
Subscriber acquisition costs |
β |
Μύ |
352 |
β |
β |
β |
β |
β |
352 |
β |
Other operating expenses |
β |
Μύ |
89 |
Μύ |
247 |
β |
β |
β |
336 |
β |
Selling, general and administrative |
β |
Μύ |
640 |
Μύ |
72 |
β |
137 |
β |
849 |
β |
Depreciation and amortization |
β |
Μύ |
274 |
Μύ |
62 |
β |
345 |
β |
681 |
β |
β |
β |
Μύ |
3,091 |
Μύ |
381 |
β |
1,427 |
β |
4,899 |
β |
Operating income (loss) |
β |
Μύ |
1,184 |
Μύ |
29 |
β |
(81) |
β |
1,132 |
β |
Other income (expense): |
β |
β |
β |
β |
β |
β |
β |
β |
β |
β |
Interest expense |
β |
Μύ |
(291) |
Μύ |
(19) |
β |
(143) |
β |
(453) |
β |
Share of earnings (losses) of affiliates, net |
β |
Μύ |
(2) |
Μύ |
8 |
β |
66 |
β |
72 |
β |
Realized and unrealized gains (losses) on financial instruments, net |
β |
Μύ |
69 |
Μύ |
1 |
β |
110 |
β |
180 |
β |
Unrealized gains (losses) on intergroup interest (note 1) |
β |
β |
β |
β |
(46) |
β |
46 |
β |
β |
β |
Other, net |
β |
Μύ |
23 |
Μύ |
2 |
β |
12 |
β |
37 |
β |
β |
β |
Μύ |
(201) |
Μύ |
(54) |
β |
91 |
β |
(164) |
β |
Earnings (loss) before income taxes |
β |
Μύ |
983 |
Μύ |
(25) |
β |
10 |
β |
968 |
β |
Income tax (expense) benefit |
β |
Μύ |
(170) |
Μύ |
11 |
β |
25 |
β |
(134) |
β |
Net earnings (loss) |
β |
Μύ |
813 |
Μύ |
(14) |
β |
35 |
β |
834 |
β |
Less net earnings (loss) attributable to the noncontrolling interests |
β |
Μύ |
263 |
Μύ |
(1) |
β |
1 |
β |
263 |
β |
Net earnings (loss) attributable to Liberty stockholders |
β |
$ |
550 |
Μύ |
(13) |
β |
34 |
β |
571 |
β |
|
| Condensed Statement of Cash Flows |
STATEMENT OF CASH FLOWS INFORMATION
Nine months ended September 30, 2019
(unaudited)
β
|
|
|
|
|
|
|
|
|
|
|
β |
β |
β |
Attributed (note 1) |
β |
β |
β |
β |
β |
Liberty |
β |
β |
β |
β |
β |
β |
β |
β |
β |
SiriusXM |
β |
Braves |
β |
Formula One |
β |
Consolidated |
β |
β |
β |
Group |
β |
Group |
β |
Group |
β |
Liberty |
β |
β |
β |
²Ή³Ύ΄Η³ά²Τ³Ω²υΜύΎ±²ΤΜύ³ΎΎ±±τ±τΎ±΄Η²Τ²υ |
β |
Cash flows from operating activities: |
β |
β |
β |
β |
β |
β |
β |
β |
β |
β |
Net earnings (loss) |
β |
$ |
543 |
Μύ |
(33) |
β |
(183) |
β |
327 |
β |
Adjustments to reconcile net earnings to net cash provided by operating activities: |
β |
β |
β |
β |
β |
β |
β |
β |
β |
β |
Depreciation and amortization |
β |
Μύ |
396 |
Μύ |
54 |
β |
340 |
β |
790 |
β |
Stock-based compensation |
β |
Μύ |
204 |
Μύ |
13 |
β |
21 |
β |
238 |
β |
Share of (earnings) loss of affiliates, net |
β |
Μύ |
18 |
Μύ |
(13) |
β |
(74) |
β |
(69) |
β |
Unrealized (gains) losses on intergroup interest, net |
β |
β |
β |
β |
26 |
β |
(26) |
β |
β |
β |
Realized and unrealized (gains) losses on financial instruments, net |
β |
Μύ |
(6) |
Μύ |
6 |
β |
171 |
β |
171 |
β |
Noncash interest expense (benefit) |
β |
β |
5 |
β |
1 |
β |
1 |
β |
7 |
β |
Deferred income tax expense (benefit) |
β |
Μύ |
232 |
Μύ |
7 |
β |
(43) |
β |
196 |
β |
Intergroup tax allocation |
β |
β |
1 |
β |
(6) |
β |
5 |
β |
β |
β |
Intergroup tax (payments) receipts |
β |
β |
(2) |
β |
22 |
β |
(20) |
β |
β |
β |
Other charges (credits), net |
β |
Μύ |
58 |
Μύ |
8 |
β |
(5) |
β |
61 |
β |
Changes in operating assets and liabilities |
β |
β |
β |
β |
β |
β |
β |
β |
β |
β |
Current and other assets |
β |
Μύ |
14 |
Μύ |
(37) |
β |
(38) |
β |
(61) |
β |
Payables and other liabilities |
β |
Μύ |
(26) |
Μύ |
9 |
β |
127 |
β |
110 |
β |
Net cash provided (used) by operating activities |
β |
Μύ |
1,437 |
Μύ |
57 |
β |
276 |
β |
1,770 |
β |
Cash flows from investing activities: |
β |
β |
β |
β |
β |
β |
β |
β |
β |
β |
Investments in equity method affiliates and debt and equity securities |
β |
Μύ |
(14) |
Μύ |
(4) |
β |
(7) |
β |
(25) |
β |
Cash proceeds from sale of investments |
β |
β |
373 |
β |
β |
β |
16 |
β |
389 |
β |
Cash paid for acquisitions, net of cash acquired |
β |
β |
313 |
β |
β |
β |
β |
β |
313 |
β |
Capital expended for property and equipment |
β |
Μύ |
(239) |
Μύ |
(72) |
β |
(27) |
β |
(338) |
β |
Sales of short term investments and other marketable securities |
β |
β |
73 |
Μύ |
β |
β |
β |
β |
73 |
β |
Other investing activities, net |
β |
Μύ |
2 |
Μύ |
β |
β |
(4) |
β |
(2) |
β |
Net cash provided (used) by investing activities |
β |
Μύ |
508 |
Μύ |
(76) |
β |
(22) |
β |
410 |
β |
Cash flows from financing activities: |
β |
β |
β |
β |
β |
β |
β |
β |
β |
β |
Borrowings of debt |
β |
Μύ |
4,943 |
Μύ |
75 |
β |
β |
β |
5,018 |
β |
Repayments of debt |
β |
Μύ |
(4,311) |
Μύ |
(29) |
β |
(5) |
β |
(4,345) |
β |
Series C Liberty SiriusXM stock repurchases |
β |
β |
(374) |
β |
β |
β |
β |
β |
(374) |
β |
Subsidiary shares repurchased by subsidiary |
β |
Μύ |
(1,959) |
Μύ |
β |
β |
β |
β |
(1,959) |
β |
Cash dividends paid by subsidiary |
β |
β |
(52) |
β |
β |
β |
β |
β |
(52) |
β |
Taxes paid in lieu of shares issued for stock-based compensation |
β |
Μύ |
(109) |
Μύ |
(1) |
β |
9 |
β |
(101) |
β |
Other financing activities, net |
β |
β |
(41) |
β |
(6) |
β |
6 |
β |
(41) |
β |
Net cash provided (used) by financing activities |
β |
Μύ |
(1,903) |
Μύ |
39 |
β |
10 |
β |
(1,854) |
β |
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash |
β |
β |
β |
β |
β |
β |
(5) |
β |
(5) |
β |
Net increase (decrease) in cash, cash equivalents and restricted cash |
β |
Μύ |
42 |
Μύ |
20 |
β |
259 |
β |
321 |
β |
Cash, cash equivalents and restricted cash at beginning of period |
β |
Μύ |
102 |
Μύ |
190 |
β |
160 |
β |
452 |
β |
Cash, cash equivalents and restricted cash at end of period |
β |
$ |
144 |
Μύ |
210 |
β |
419 |
β |
773 |
β |
β
STATEMENT OF CASH FLOWS INFORMATION
Nine months ended September 30, 2018
(unaudited)
β
|
|
|
|
|
|
|
|
|
|
|
β |
β |
β |
Attributed (note 1) |
β |
β |
β |
β |
β |
Liberty |
β |
β |
β |
β |
β |
β |
β |
β |
β |
SiriusXM |
β |
Braves |
β |
Formula One |
β |
Consolidated |
β |
β |
β |
Group |
β |
Group |
β |
Group |
β |
Liberty |
β |
β |
β |
²Ή³Ύ΄Η³ά²Τ³Ω²υΜύΎ±²ΤΜύ³ΎΎ±±τ±τΎ±΄Η²Τ²υ |
β |
Cash flows from operating activities: |
β |
β |
β |
β |
β |
β |
β |
β |
β |
β |
Net earnings (loss) |
β |
$ |
813 |
Μύ |
(14) |
β |
35 |
β |
834 |
β |
Adjustments to reconcile net earnings to net cash provided by operating activities: |
β |
β |
β |
β |
β |
β |
β |
β |
β |
β |
Depreciation and amortization |
β |
Μύ |
274 |
Μύ |
62 |
β |
345 |
β |
681 |
β |
Stock-based compensation |
β |
Μύ |
117 |
Μύ |
9 |
β |
19 |
β |
145 |
β |
Share of (earnings) loss of affiliates, net |
β |
Μύ |
2 |
Μύ |
(8) |
β |
(66) |
β |
(72) |
β |
Unrealized (gains) losses on intergroup interest, net |
β |
β |
β |
β |
46 |
β |
(46) |
β |
β |
β |
Realized and unrealized (gains) losses on financial instruments, net |
β |
Μύ |
(69) |
Μύ |
(1) |
β |
(110) |
β |
(180) |
β |
Noncash interest expense (benefit) |
β |
β |
(9) |
β |
4 |
β |
(1) |
β |
(6) |
β |
Deferred income tax expense (benefit) |
β |
Μύ |
159 |
Μύ |
3 |
β |
(30) |
β |
132 |
β |
Intergroup tax allocation |
β |
β |
21 |
β |
(14) |
β |
(7) |
β |
β |
β |
Other charges (credits), net |
β |
Μύ |
2 |
Μύ |
9 |
β |
2 |
β |
13 |
β |
Changes in operating assets and liabilities |
β |
β |
β |
β |
β |
β |
β |
β |
β |
β |
Current and other assets |
β |
Μύ |
(33) |
Μύ |
(3) |
β |
(83) |
β |
(119) |
β |
Payables and other liabilities |
β |
Μύ |
14 |
Μύ |
(30) |
β |
223 |
β |
207 |
β |
Net cash provided (used) by operating activities |
β |
Μύ |
1,291 |
Μύ |
63 |
β |
281 |
β |
1,635 |
β |
Cash flows from investing activities: |
β |
β |
β |
β |
β |
β |
β |
β |
β |
β |
Investments in equity method affiliates and debt and equity securities |
β |
Μύ |
(397) |
Μύ |
β |
β |
(6) |
β |
(403) |
β |
Cash proceeds from sale of investments |
β |
β |
β |
β |
β |
β |
244 |
β |
244 |
β |
Cash paid for acquisitions, net of cash acquired |
β |
β |
(1) |
β |
β |
β |
β |
β |
(1) |
β |
Capital expended for property and equipment |
β |
Μύ |
(239) |
Μύ |
(15) |
β |
(11) |
β |
(265) |
β |
Other investing activities, net |
β |
Μύ |
5 |
Μύ |
33 |
β |
5 |
β |
43 |
β |
Net cash provided (used) by investing activities |
β |
Μύ |
(632) |
Μύ |
18 |
β |
232 |
β |
(382) |
β |
Cash flows from financing activities: |
β |
β |
β |
β |
β |
β |
β |
β |
β |
β |
Borrowings of debt |
β |
Μύ |
1,899 |
Μύ |
123 |
β |
288 |
β |
2,310 |
β |
Repayments of debt |
β |
Μύ |
(1,902) |
Μύ |
(185) |
β |
(927) |
β |
(3,014) |
β |
Series C Liberty SiriusXM stock repurchases |
β |
β |
(368) |
β |
β |
β |
β |
β |
(368) |
β |
Subsidiary shares repurchased by subsidiary |
β |
Μύ |
(662) |
Μύ |
β |
β |
β |
β |
(662) |
β |
Cash dividends paid by subsidiary |
β |
β |
(44) |
β |
β |
β |
β |
β |
(44) |
β |
Taxes paid in lieu of shares issued for stock-based compensation |
β |
Μύ |
(120) |
Μύ |
β |
β |
(2) |
β |
(122) |
β |
Other financing activities, net |
β |
β |
50 |
β |
β |
β |
1 |
β |
51 |
β |
Net cash provided (used) by financing activities |
β |
Μύ |
(1,147) |
Μύ |
(62) |
β |
(640) |
β |
(1,849) |
β |
Net increase (decrease) in cash, cash equivalents and restricted cash |
β |
Μύ |
(488) |
Μύ |
19 |
β |
(127) |
β |
(596) |
β |
Cash, cash equivalents and restricted cash at beginning of period |
β |
Μύ |
625 |
Μύ |
140 |
β |
282 |
β |
1,047 |
β |
Cash, cash equivalents and restricted cash at end of period |
β |
$ |
137 |
Μύ |
159 |
β |
155 |
β |
451 |
β |
|