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

Annual report pursuant to Section 13 and 15(d)

Debt (Tables)

Debt (Tables)

12 Months Ended

Dec. 31, 2018


	Outstanding		Carrying value
	Principal		December 31,		December 31,
	December 31, 2018		2018		2017
Liberty SiriusXM Group
Corporate level notes and loans:
2.125% Exchangeable Senior Debentures due 2048 (1)	$	400		372	—
Margin loans		600		600	750
Subsidiary notes and loans:
SIRIUS XM 3.875% Senior Notes due 2022		1,000		994	992
SIRIUS XM 4.625% Senior Notes due 2023		500		497	497
SIRIUS XM 6% Senior Notes due 2024		1,500		1,490	1,488
SIRIUS XM 5.375% Senior Notes due 2025		1,000		992	991
SIRIUS XM 5.375% Senior Notes due 2026		1,000		991	990
SIRIUS XM 5.0% Senior Notes due 2027		1,500		1,487	1,486
SIRIUS XM Senior Secured Revolving Credit Facility		439		439	300
SIRIUS XM leases		5		5	11
Deferred financing costs				(9)	(9)
Total Liberty SiriusXM Group		7,944		7,858	7,496
Braves Group
Subsidiary notes and loans:
Notes and loans		494		494	667
Deferred financing costs				(3)	(5)
Total Braves Group		494		491	662
Formula One Group
Corporate level notes and loans:
1.375% Cash Convertible Notes due 2023 (1)		1,000		1,062	1,146
1% Cash Convertible Notes due 2023 (1)		450		463	505
2.25% Exchangeable Senior Debentures due 2046 (1)		213		209	464
2.25% Exchangeable Senior Debentures due 2048 (1)		385		381	—
Live Nation Margin Loan		—		—	350
Other		33		33	35
Subsidiary notes and loans:
Senior Loan Facility		2,902		2,910	3,314
Deferred financing costs				(19)	(18)
Total Formula One Group		4,983		5,039	5,796
Total debt	$	13,421		13,388	13,954
Less debt classified as current				(17)	(768)
Total long-term debt			$	13,371	13,186

(1) Measured at fair value

Schedule of Braves Holdings Debt


	Carrying value			As of December 31, 2018
	December 31,		December 31,	Borrowing	Weighted avg	Maturity
	2018		2017	Capacity	interest rate	Date
	amounts in millions
Operating credit facilities	$	17	98	185	3.39%	various
Ballpark funding
Term loan		52	55	NA	3.97%	August 2021
Senior secured note		195	200	NA	3.77%	September 2041
Floating rate notes		70	75	NA	4.10%	September 2029
Mixed-use credit facilities and loans		160	200	176	4.43%	various
Spring training credit facility		—	39	40	NA	December 2022
Total Braves Holdings	$	494	667

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 is as follows (amounts in millions):


	December 31,
	2018
SIRIUS XM 3.875% Senior Notes due 2022	$	948
SIRIUS XM 4.625% Senior Notes due 2023	$	476
SIRIUS XM 6% Senior Notes due 2024	$	1,504
SIRIUS XM 5.375% Senior Notes due 2025	$	956
SIRIUS XM 5.375% Senior Notes due 2026	$	941
SIRIUS XM 5.0% Senior Notes due 2027	$	1,363

Schedule of Maturities of Long-term Debt

The annual principal maturities of outstanding debt obligations for each of the next five years is as follows (amounts in millions):


2019	$	24
2020	$	703
2021	$	65
2022	$	1,018
2023	$	2,407

- 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.

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+ Details