Annual report pursuant to Section 13 and 15(d)

Condensed Consolidated Statements of Operations

v3.19.3.a.u2
Condensed Consolidated Statements of Operations - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Dec. 31, 2019
Sep. 30, 2019
Jun. 30, 2019
Mar. 31, 2019
Dec. 31, 2018
Sep. 30, 2018
Jun. 30, 2018
Mar. 31, 2018
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Revenue:                      
Total revenue $ 2,619 $ 2,856 $ 2,805 $ 2,012 $ 2,009 $ 2,315 $ 2,199 $ 1,517 $ 10,292 $ 8,040 $ 7,594
Cost of services (exclusive of depreciation shown separately below):                      
Subscriber acquisition costs                 427 470 499
Other operating expenses                 620 388 409
Selling, general and administrative                 1,809 1,182 1,147
Acquisition and other related costs                 84 3  
Depreciation and amortization                 1,061 905 824
Total operating costs and expenses                 8,822 6,529 6,200
Operating income (loss) 302 507 461 200 379 531 374 227 1,470 1,511 1,394
Other income (expense):                      
Interest expense                 (657) (606) (591)
Share of earnings (losses) of affiliates, net                 6 18 104
Realized and unrealized gains (losses) on financial instruments, net                 (315) 40 (88)
Other, net                 9 78 8
Total other income (expense)                 (957) (470) (567)
Earnings (loss) before income taxes                 513 1,041 827
Income tax (expense) benefit                 (166) (176) 1,063
Net earnings (loss) 20 262 192 (127) 31 366 255 213 347 865 1,890
Less net earnings (loss) attributable to the noncontrolling interests                 241 334 536
Net earnings (loss) attributable to Liberty stockholders                 106 531 1,354
Liberty Sirius XM Group                      
Revenue:                      
Total revenue                 7,794 5,771 5,425
Cost of services (exclusive of depreciation shown separately below):                      
Subscriber acquisition costs                 427 470 499
Other operating expenses                 280 123 113
Selling, general and administrative                 1,495 878 812
Acquisition and other related costs                 84 3  
Depreciation and amortization                 537 369 352
Total operating costs and expenses                 6,250 4,151 3,878
Operating income (loss)                 1,544 1,620 1,547
Other income (expense):                      
Interest expense                 (435) (388) (356)
Share of earnings (losses) of affiliates, net                 (24) (11) 29
Realized and unrealized gains (losses) on financial instruments, net                 (41) (1) (16)
Other, net                 (38) 25 (11)
Total other income (expense)                 (538) (375) (354)
Earnings (loss) before income taxes                 1,006 1,245 1,193
Income tax (expense) benefit                 (271) (241) 466
Net earnings (loss)                 735 1,004 1,659
Less net earnings (loss) attributable to the noncontrolling interests                 241 328 535
Net earnings (loss) attributable to Liberty stockholders $ 126 $ 140 $ 167 $ 61 $ 126 $ 185 $ 165 $ 200 $ 494 $ 676 $ 1,124
Basic net earnings (loss) attributable to Liberty stockholders per common share                      
Series A, B and C common stock, basic earnings loss per share $ 0.40 $ 0.44 $ 0.52 $ 0.19 $ 0.39 $ 0.56 $ 0.50 $ 0.60 $ 1.55 $ 2.04 $ 3.35
Diluted net earnings (loss) attributable to Liberty stockholders per common share                      
Series A, B and C common stock, diluted earnings loss per share $ 0.39 $ 0.44 $ 0.52 $ 0.19 $ 0.38 $ 0.55 $ 0.49 $ 0.59 $ 1.53 $ 2.01 $ 3.31
Braves Group                      
Revenue:                      
Total revenue                 $ 476 $ 442 $ 386
Cost of services (exclusive of depreciation shown separately below):                      
Other operating expenses                 340 265 296
Selling, general and administrative                 104 100 136
Depreciation and amortization                 71 76 67
Total operating costs and expenses                 515 441 499
Operating income (loss)                 (39) 1 (113)
Other income (expense):                      
Interest expense                 (27) (26) (15)
Share of earnings (losses) of affiliates, net                 18 12 78
Realized and unrealized gains (losses) on financial instruments, net                 (4) (2)  
Other, net                 2 35 3
Total other income (expense)                 (53) (5) 51
Earnings (loss) before income taxes                 (92) (4) (62)
Income tax (expense) benefit                 15 15 36
Net earnings (loss)                 (77) 11 (26)
Less net earnings (loss) attributable to the noncontrolling interests                   6 (1)
Net earnings (loss) attributable to Liberty stockholders $ (44) $ 12 $ 26 $ (71) $ 18 $ 41 $ (2) $ (52) $ (77) $ 5 $ (25)
Basic net earnings (loss) attributable to Liberty stockholders per common share                      
Series A, B and C common stock, basic earnings loss per share $ (0.86) $ 0.24 $ 0.51 $ (1.39) $ 0.35 $ 0.80 $ (0.04) $ (1.02) $ (1.51) $ 0.10 $ (0.51)
Diluted net earnings (loss) attributable to Liberty stockholders per common share                      
Series A, B and C common stock, diluted earnings loss per share $ (0.86) $ 0.16 $ 0.46 $ (1.39) $ (0.07) $ 0.80 $ (0.04) $ (1.02) $ (1.51) $ 0.10 $ (0.51)
Formula One Group                      
Revenue:                      
Total revenue                 $ 2,022 $ 1,827 $ 1,783
Cost of services (exclusive of depreciation shown separately below):                      
Selling, general and administrative                 210 204 199
Depreciation and amortization                 453 460 405
Total operating costs and expenses                 2,057 1,937 1,823
Operating income (loss)                 (35) (110) (40)
Other income (expense):                      
Interest expense                 (195) (192) (220)
Share of earnings (losses) of affiliates, net                 12 17 (3)
Realized and unrealized gains (losses) on financial instruments, net                 (270) 43 (72)
Other, net                 45 18 16
Total other income (expense)                 (366) (90) (264)
Earnings (loss) before income taxes                 (401) (200) (304)
Income tax (expense) benefit                 90 50 561
Net earnings (loss)                 (311) (150) 257
Less net earnings (loss) attributable to the noncontrolling interests                     2
Net earnings (loss) attributable to Liberty stockholders $ (127) $ 41 $ (77) $ (148) $ (184) $ 42 $ 9 $ (17) $ (311) $ (150) $ 255
Basic net earnings (loss) attributable to Liberty stockholders per common share                      
Series A, B and C common stock, basic earnings loss per share $ (0.55) $ 0.18 $ (0.33) $ (0.64) $ (0.80) $ 0.18 $ 0.04 $ (0.07) $ (1.35) $ (0.65) $ 1.23
Diluted net earnings (loss) attributable to Liberty stockholders per common share                      
Series A, B and C common stock, diluted earnings loss per share $ (0.55) $ 0.18 $ (0.33) $ (0.64) $ (0.80) $ 0.18 $ 0.04 $ (0.07) $ (1.35) $ (0.65) $ 1.21
Sirius XM Holdings Revenue                      
Revenue:                      
Total revenue                 $ 7,794 $ 5,771 $ 5,425
Sirius XM Holdings Revenue | Liberty Sirius XM Group                      
Revenue:                      
Total revenue                 7,794 5,771 5,425
Revenue Share And Royalties                      
Cost of services (exclusive of depreciation shown separately below):                      
Cost of services                 2,291 1,394 1,210
Revenue Share And Royalties | Liberty Sirius XM Group                      
Cost of services (exclusive of depreciation shown separately below):                      
Cost of services                 2,291 1,394 1,210
Programming and content                      
Cost of services (exclusive of depreciation shown separately below):                      
Cost of services                 462 406 388
Programming and content | Liberty Sirius XM Group                      
Cost of services (exclusive of depreciation shown separately below):                      
Cost of services                 462 406 388
Customer service and billing                      
Cost of services (exclusive of depreciation shown separately below):                      
Cost of services                 475 382 385
Customer service and billing | Liberty Sirius XM Group                      
Cost of services (exclusive of depreciation shown separately below):                      
Cost of services                 475 382 385
Other                      
Cost of services (exclusive of depreciation shown separately below):                      
Cost of services                 199 126 119
Other | Liberty Sirius XM Group                      
Cost of services (exclusive of depreciation shown separately below):                      
Cost of services                 199 126 119
Primary Formula 1                      
Revenue:                      
Total revenue                 2,022 1,827 1,783
Cost of services (exclusive of depreciation shown separately below):                      
Cost of services                 1,394 1,273 1,219
Primary Formula 1 | Formula One Group                      
Revenue:                      
Total revenue                 2,022 1,827 1,783
Cost of services (exclusive of depreciation shown separately below):                      
Cost of services                 1,394 1,273 1,219
Other                      
Revenue:                      
Total revenue                 476 442 386
Other | Braves Group                      
Revenue:                      
Total revenue                 $ 476 $ 442 $ 386