Liberty Media Corporation Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Long-Term Debt (Tables)

Long-Term Debt (Tables)

3 Months Ended

Mar. 31, 2018


	Outstanding		Carrying value
	Principal		March 31,		December 31,
	March 31, 2018		2018		2017
	amounts in millions
Liberty SiriusXM Group
Corporate level notes and loans:
2.125% Exchangeable Senior Debentures due 2048 (1)	$	400		397	—
Margin Loans		750		750	750
Subsidiary notes and loans:
SIRIUS XM 3.875% Senior Notes due 2022		1,000		992	992
SIRIUS XM 4.625% Senior Notes due 2023		500		497	497
SIRIUS XM 6% Senior Notes due 2024		1,500		1,488	1,488
SIRIUS XM 5.375% Senior Notes due 2025		1,000		992	991
SIRIUS XM 5.375% Senior Notes due 2026		1,000		990	990
SIRIUS XM 5.0% Senior Notes due 2027		1,500		1,486	1,486
SIRIUS XM Senior Secured Revolving Credit Facility		365		365	300
SIRIUS XM leases		10		10	11
Deferred financing costs				(11)	(9)
Total Liberty SiriusXM Group		8,025		7,956	7,496
Braves Group
Subsidiary notes and loans:
Notes and loans		603		603	667
Deferred financing costs				(4)	(5)
Total Braves Group		603		599	662
Formula One Group
Corporate level notes and loans:
1.375% Cash Convertible Notes due 2023 (1)		1,000		1,149	1,146
1% Cash Convertible Notes due 2023 (1)		450		473	505
2.25% Exchangeable Senior Debentures due 2046 (1)		445		463	464
Live Nation Margin Loan		350		350	350
Other		34		34	35
Subsidiary notes and loans:
Senior Loan Facility		3,102		3,112	3,314
Deferred financing costs				(23)	(18)
Total Formula One Group		5,381		5,558	5,796
Total debt	$	14,009		14,113	13,954
Debt classified as current				(36)	(768)
Total long-term debt			$	14,077	13,186

(1) Measured at fair value

Schedule of Braves Holdings Debt


	Carrying value			As of March 31, 2018
	March 31,		December 31,	Borrowing	Weighted avg	Maturity
	2018		2017	Capacity	interest rate	Date
	amounts in millions
Operating credit facilities	$	28	98	185	2.58%	various
Ballpark funding
Term loan		54	55	NA	3.51%	August 2021
Senior secured note		197	200	NA	3.77%	September 2041
Floating rate notes		74	75	NA	3.51%	September 2029
Mixed-use credit facilities (a)		208	200	237	3.95%	various
Spring training credit facility		25	39	40	2.75%	December 2022
Other		17	—	NA
Total Braves Holdings	$	603	667

As discussed in note 8, 375 thousand Time Warner shares with a fair value of $35 million were pledged as collateral to certain mixed-use facilities as of March 31, 2018.

Fair Value of Debt

The fair value, based on quoted market prices of the same instruments but not considered to be active markets (Level 2), of SIRIUS XM's publicly traded debt securities, not reported at fair value, are as follows (amounts in millions):


	March 31, 2018
SIRIUS XM 3.875% Senior Notes due 2022	$	960
SIRIUS XM 4.625% Senior Notes due 2023	$	491
SIRIUS XM 6% Senior Notes due 2024	$	1,539
SIRIUS XM 5.375% Senior Notes due 2025	$	993
SIRIUS XM 5.375% Senior Notes due 2026	$	985
SIRIUS XM 5.0% Senior Notes due 2027	$	1,414

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

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+ Details