Annual report pursuant to Section 13 and 15(d)

Other Comprehensive Earnings (loss)

v3.10.0.1
Other Comprehensive Earnings (loss)
 12 Months Ended
Dec. 31, 2018
Other Comprehensive Earnings (Loss)  
Other Comprehensive Earnings (Loss)

(16)  Other Comprehensive Earnings (Loss)

Accumulated other comprehensive earnings (loss) included in Liberty’s consolidated balance sheets and consolidated statements of equity reflect the aggregate of foreign currency translation adjustments, unrealized holding gains and losses on debt and equity securities and Liberty’s share of accumulated other comprehensive earnings of affiliates.

The change in the components of accumulated other comprehensive earnings (loss), net of taxes (“AOCI”), is summarized as follows:

 

 

 

 

 

 

 

 

 

 

 

 

    

Unrealized

    

Foreign

 

 

    

 

 

 

 

holding

 

currency

 

 

 

 

 

 

 

gains (losses)

 

translation

 

 

 

 

 

 

 

on securities

 

adjustment

 

Other

 

AOCI

 

 

 

amounts in millions

 

Balance at January 1, 2016

 

$

(10)

 

(23)

 

(18)

 

(51)

 

Other comprehensive earnings (loss) attributable to Liberty stockholders

 

 

 1

 

 1

 

(13)

 

(11)

 

Balance at December 31, 2016

 

 

(9)

 

(22)

 

(31)

 

(62)

 

Other comprehensive earnings (loss) attributable to Liberty stockholders

 

 

(3)

 

16

 

14

 

27

 

Balance at December 31, 2017

 

 

(12)

 

(6)

 

(17)

 

(35)

 

Other comprehensive earnings (loss) attributable to Liberty stockholders

 

 

(3)

 

(24)

 

22

 

(5)

 

Cumulative adjustment for change in accounting principle

 

 

 —

 

 —

 

 2

 

 2

 

Balance at December 31, 2018

 

$

(15)

 

(30)

 

 7

 

(38)

 

The components of other comprehensive earnings (loss) are reflected in Liberty’s consolidated statements of comprehensive earnings (loss) net of taxes. The following table summarizes the tax effects related to each component of other comprehensive earnings (loss).

 

 

 

 

 

 

 

 

 

 

    

 

 

    

Tax

    

 

 

 

 

Before-tax

 

(expense)

 

Net-of-tax

 

 

 

amount

 

benefit

 

amount

 

 

 

amounts in millions

 

Year ended December 31, 2018:

 

 

 

 

 

 

 

 

Unrealized holding gains (losses) arising during period

 

$

(4)

 

 1

 

(3)

 

Credit risk on fair value debt instruments gains (losses)

 

 

41

 

(9)

 

32

 

Foreign currency translation adjustments

 

 

(56)

 

12

 

(44)

 

Other comprehensive earnings

 

$

(19)

 

 4

 

(15)

 

Year ended December 31, 2017:

 

 

 

 

 

 

 

 

Unrealized holding gains (losses) arising during period

 

$

(5)

 

 2

 

(3)

 

Foreign currency translation adjustments

 

 

60

 

(22)

 

38

 

Other comprehensive earnings

 

$

55

 

(20)

 

35

 

Year ended December 31, 2016:

 

 

 

 

 

 

 

 

Foreign currency translation adjustments

 

$

(16)

 

 6

 

(10)

 

Other comprehensive earnings

 

$

(16)

 

 6

 

(10)