Liberty Media Corporation Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations

Consolidated Statements of Operations - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Revenue:
Total revenue	$ 2,009	$ 2,315	$ 2,199	$ 1,517	$ 1,994	$ 2,065	$ 2,140	$ 1,395	$ 8,040	$ 7,594	$ 5,276
Subscriber acquisition costs									470	499	513
Other operating expense									370	394	306
Selling, general and administrative									1,203	1,162	886
Legal settlement, net											(511)
Depreciation and amortization									905	824	354
Total operating costs and expenses									6,529	6,200	3,542
Operating income (loss)	379	531	374	227	331	382	422	259	1,511	1,394	1,734
Other income (expense):
Interest expense									(606)	(591)	(362)
Share of earnings (losses) of affiliates, net									18	104	14
Realized and unrealized gains (losses) on financial instruments, net									40	(88)	37
Other, net									78	8	(4)
Total other income (expense)									(470)	(567)	(315)
Earnings (loss) before income taxes									1,041	827	1,419
Income tax (expense) benefit									(176)	1,063	(495)
Net earnings (loss)	31	366	255	213	1,429	261	156	44	865	1,890	924
Less net earnings (losses) attributable to the noncontrolling interests									334	536	244
Net earnings (loss) attributable to Liberty stockholders									531	1,354	680
Liberty Media Corporation
Other income (expense):
Net earnings (loss) attributable to Liberty stockholders											$ 377
Basic net earnings (loss) attributable to Liberty stockholders per common share
Series A, B and C common stock, basic earnings loss per share											$ 1.13
Diluted net earnings (loss) attributable to Liberty stockholders per common share
Series A, B and C common stock, diluted earnings loss per share											$ 1.12
Liberty Sirius XM Group
Revenue:
Total revenue									5,771	5,425	$ 5,014
Subscriber acquisition costs									470	499	513
Other operating expense									123	113	82
Selling, general and administrative									881	812	761
Depreciation and amortization									369	352	312
Total operating costs and expenses									4,151	3,878	3,662
Operating income (loss)									1,620	1,547	1,352
Other income (expense):
Interest expense									(388)	(356)	(342)
Share of earnings (losses) of affiliates, net									(11)	29	13
Realized and unrealized gains (losses) on financial instruments, net									(1)	(16)
Other, net									25	(11)	(25)
Total other income (expense)									(375)	(354)	(354)
Earnings (loss) before income taxes									1,245	1,193	998
Income tax (expense) benefit									(241)	466	(341)
Net earnings (loss)									1,004	1,659	657
Less net earnings (losses) attributable to the noncontrolling interests									328	535	244
Net earnings (loss) attributable to Liberty stockholders	$ 126	$ 185	$ 165	$ 200	$ 694	$ 183	$ 123	$ 124	$ 676	$ 1,124	$ 297
Basic net earnings (loss) attributable to Liberty stockholders per common share
Series A, B and C common stock, basic earnings loss per share	$ 0.39	$ 0.56	$ 0.50	$ 0.60	$ 2.07	$ 0.54	$ 0.37	$ 0.37	$ 2.04	$ 3.35	$ 0.89
Diluted net earnings (loss) attributable to Liberty stockholders per common share
Series A, B and C common stock, diluted earnings loss per share	$ 0.38	$ 0.55	$ 0.49	$ 0.59	$ 2.04	$ 0.54	$ 0.36	$ 0.37	$ 2.01	$ 3.31	$ 0.88
Braves Group
Revenue:
Total revenue									$ 442	$ 386	$ 262
Other operating expense									247	281	224
Selling, general and administrative									118	151	67
Depreciation and amortization									76	67	32
Total operating costs and expenses									441	499	323
Operating income (loss)									1	(113)	(61)
Other income (expense):
Interest expense									(26)	(15)	(1)
Share of earnings (losses) of affiliates, net									12	78	9
Realized and unrealized gains (losses) on financial instruments, net									(2)		1
Other, net									35	3
Total other income (expense)									(5)	51	(18)
Earnings (loss) before income taxes									(4)	(62)	(79)
Income tax (expense) benefit									15	36	17
Net earnings (loss)									11	(26)	(62)
Less net earnings (losses) attributable to the noncontrolling interests									6	(1)
Net earnings (loss) attributable to Liberty stockholders	$ 18	$ 41	$ (2)	$ (52)	$ 4	$ 22	$ (2)	$ (49)	$ 5	$ (25)	$ (30)
Basic net earnings (loss) attributable to Liberty stockholders per common share
Series A, B and C common stock, basic earnings loss per share	$ 0.35	$ 0.80	$ (0.04)	$ (1.02)	$ 0.08	$ 0.45	$ (0.04)	$ (1.00)	$ 0.10	$ (0.51)	$ (0.65)
Diluted net earnings (loss) attributable to Liberty stockholders per common share
Series A, B and C common stock, diluted earnings loss per share	$ (0.07)	$ 0.80	$ (0.04)	$ (1.02)	$ 0.07	$ 0.45	$ (0.04)	$ (1.00)	$ 0.10	$ (0.51)	$ (0.65)
Formula One Group
Revenue:
Total revenue									$ 1,827	$ 1,783
Selling, general and administrative									204	199	$ 58
Legal settlement, net											(511)
Depreciation and amortization									460	405	10
Total operating costs and expenses									1,937	1,823	(443)
Operating income (loss)									(110)	(40)	443
Other income (expense):
Interest expense									(192)	(220)	(19)
Share of earnings (losses) of affiliates, net									17	(3)	(8)
Realized and unrealized gains (losses) on financial instruments, net									43	(72)	36
Other, net									18	16	21
Total other income (expense)									(90)	(264)	57
Earnings (loss) before income taxes									(200)	(304)	500
Income tax (expense) benefit									50	561	(171)
Net earnings (loss)									(150)	257	329
Less net earnings (losses) attributable to the noncontrolling interests										2
Net earnings (loss) attributable to Liberty stockholders	$ (184)	$ 42	$ 9	$ (17)	$ 415	$ (37)	$ (27)	$ (96)	$ (150)	$ 255	$ 36
Basic net earnings (loss) attributable to Liberty stockholders per common share
Series A, B and C common stock, basic earnings loss per share	$ (0.80)	$ 0.18	$ 0.04	$ (0.07)	$ 1.80	$ (0.17)	$ (0.13)	$ (0.55)	$ (0.65)	$ 1.23	$ 0.43
Diluted net earnings (loss) attributable to Liberty stockholders per common share
Series A, B and C common stock, diluted earnings loss per share	$ (0.80)	$ 0.18	$ 0.04	$ (0.07)	$ 1.79	$ (0.17)	$ (0.13)	$ (0.55)	$ (0.65)	$ 1.21	$ 0.42
Subscriber
Revenue:
Total revenue									$ 4,594	$ 4,473	$ 4,194
Subscriber \| Liberty Sirius XM Group
Revenue:
Total revenue									4,594	4,473	4,194
Revenue Share And Royalties
Revenue:
Cost of subscriber services and Formula 1 revenue									1,394	1,210	1,109
Revenue Share And Royalties \| Liberty Sirius XM Group
Revenue:
Cost of subscriber services and Formula 1 revenue									1,394	1,210	1,109
Programming and content
Revenue:
Cost of subscriber services and Formula 1 revenue									406	388	354
Programming and content \| Liberty Sirius XM Group
Revenue:
Cost of subscriber services and Formula 1 revenue									406	388	354
Customer service and billing
Revenue:
Cost of subscriber services and Formula 1 revenue									382	385	387
Customer service and billing \| Liberty Sirius XM Group
Revenue:
Cost of subscriber services and Formula 1 revenue									382	385	387
Other cost of subscriber services
Revenue:
Cost of subscriber services and Formula 1 revenue									126	119	144
Other cost of subscriber services \| Liberty Sirius XM Group
Revenue:
Cost of subscriber services and Formula 1 revenue									126	119	144
Formula 1
Revenue:
Total revenue									1,827	1,783
Cost of subscriber services and Formula 1 revenue									1,273	1,219
Formula 1 \| Formula One Group
Revenue:
Total revenue									1,827	1,783
Cost of subscriber services and Formula 1 revenue									1,273	1,219
Other
Revenue:
Total revenue									1,619	1,338	1,082
Other \| Liberty Sirius XM Group
Revenue:
Total revenue									1,177	952	820
Other \| Braves Group
Revenue:
Total revenue									$ 442	$ 386	$ 262