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

Quarterly report pursuant to Section 13 or 15(d)

Investments in Debt and Equity Securities

Investments in Debt and Equity Securities

6 Months Ended

Jun. 30, 2018

Investments in Debt and Equity Securities

Investments in Debt and Equity Securities

(8) Investments in Debt and Equity Securities

All investments in marketable debt and equity securities held by the Company are carried at fair value, generally based on quoted market prices, and changes in the fair value of such securities are reported in realized and unrealized gains (losses) on financial instruments in the accompanying condensed consolidated statements of operations. The Company elected the measurement alternative (defined as the cost of the security, adjusted for changes in fair value when there are observable prices, less impairments) for its equity securities without readily determinable fair values.

Investments in debt and equity securities are summarized as follows:


	June 30,		December 31,
	2018		2017
	amounts in millions
Liberty SiriusXM Group
Debt securities
Pandora	$	598	480
iHeart (a)		505	100
Total attributed Liberty SiriusXM Group		1,103	580

Braves Group
Other equity securities		8	8
Total attributed Braves Group		8	8

Formula One Group
Equity securities
AT&T (b)		196	389
Other (c )		122	137
Total attributed Formula One Group		318	526

Consolidated Liberty	$	1,429	1,114

(a)

During the six months ended June 30, 2018, the Company purchased $522 million in principal of iHeartMedia, Inc. (“iHeart”) bonds for $389 million, resulting in the Company owning an aggregate amount of $660 million in principal of iHeart bonds as of June 30, 2018.

(b)

See note 11 for details regarding the acquisition of Time Warner, Inc. (“Time Warner”) by AT&T and the number and fair value of AT&T shares pledged as collateral pursuant to the Braves Holdings mixed-use development facility as of June 30, 2018.

(c)

A portion of these equity securities are pledged as collateral to the Live Nation Margin Loan. See note 11 for the fair value of shares pledged as of June 30, 2018.