Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations

v3.20.1
Condensed Consolidated Statements of Operations - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Revenue:    
Total revenue $ 2,013 $ 2,012
Cost of services (exclusive of depreciation shown separately below):    
Subscriber acquisition costs 99 108
Other operating expenses 100 85
Selling, general and administrative 408 399
Acquisition and other related costs   76
Depreciation and amortization 267 248
Total operating costs and expenses 1,767 1,812
Operating income (loss) 246 200
Other income (expense):    
Interest expense (164) (159)
Share of earnings (losses) of affiliates, net (62) (20)
Realized and unrealized gains (losses) on financial instruments, net 1 (98)
Other, net 17 8
Total other income (expense) (208) (269)
Earnings (loss) before income taxes 38 (69)
Income tax (expense) benefit (36) (58)
Net earnings (loss) 2 (127)
Less net earnings (loss) attributable to the noncontrolling interests 78 31
Net earnings (loss) attributable to Liberty stockholders (76) (158)
Liberty SiriusXM Group    
Revenue:    
Total revenue 1,952 1,744
Cost of services (exclusive of depreciation shown separately below):    
Subscriber acquisition costs 99 108
Other operating expenses 71 54
Selling, general and administrative 342 326
Acquisition and other related costs   76
Depreciation and amortization 148 125
Total operating costs and expenses 1,510 1,437
Operating income (loss) 442 307
Other income (expense):    
Interest expense (111) (102)
Share of earnings (losses) of affiliates, net (2) (4)
Realized and unrealized gains (losses) on financial instruments, net (5) 1
Other, net 13 3
Total other income (expense) (74) (102)
Earnings (loss) before income taxes 368 205
Income tax (expense) benefit (76) (113)
Net earnings (loss) 292 92
Less net earnings (loss) attributable to the noncontrolling interests 78 31
Net earnings (loss) attributable to Liberty stockholders $ 214 $ 61
Basic net earnings (loss) attributable to Liberty stockholders per common share    
Series A, B and C common stock, basic earnings loss per share $ 0.68 $ 0.19
Diluted net earnings (loss) attributable to Liberty stockholders per common share    
Series A, B and C common stock, diluted earnings loss per share $ 0.57 $ 0.19
Braves Group    
Revenue:    
Total revenue $ 22 $ 22
Cost of services (exclusive of depreciation shown separately below):    
Other operating expenses 29 31
Selling, general and administrative 22 27
Depreciation and amortization 15 13
Total operating costs and expenses 66 71
Operating income (loss) (44) (49)
Other income (expense):    
Interest expense (7) (7)
Share of earnings (losses) of affiliates, net 4 2
Realized and unrealized gains (losses) on financial instruments, net (9) (2)
Other, net (1)  
Total other income (expense) 82 (33)
Earnings (loss) before income taxes 38 (82)
Income tax (expense) benefit 15 11
Net earnings (loss) 53 (71)
Net earnings (loss) attributable to Liberty stockholders $ 53 $ (71)
Basic net earnings (loss) attributable to Liberty stockholders per common share    
Series A, B and C common stock, basic earnings loss per share $ 1.04 $ (1.39)
Diluted net earnings (loss) attributable to Liberty stockholders per common share    
Series A, B and C common stock, diluted earnings loss per share $ (0.69) $ (1.39)
Formula One Group    
Revenue:    
Total revenue $ 39 $ 246
Cost of services (exclusive of depreciation shown separately below):    
Selling, general and administrative 44 46
Depreciation and amortization 104 110
Total operating costs and expenses 191 304
Operating income (loss) (152) (58)
Other income (expense):    
Interest expense (46) (50)
Share of earnings (losses) of affiliates, net (64) (18)
Realized and unrealized gains (losses) on financial instruments, net 15 (97)
Other, net 5 5
Total other income (expense) (216) (134)
Earnings (loss) before income taxes (368) (192)
Income tax (expense) benefit 25 44
Net earnings (loss) (343) (148)
Net earnings (loss) attributable to Liberty stockholders $ (343) $ (148)
Basic net earnings (loss) attributable to Liberty stockholders per common share    
Series A, B and C common stock, basic earnings loss per share $ (1.48) $ (0.64)
Diluted net earnings (loss) attributable to Liberty stockholders per common share    
Series A, B and C common stock, diluted earnings loss per share $ (1.48) $ (0.64)
Sirius XM Holdings Revenue    
Revenue:    
Total revenue $ 1,952 $ 1,744
Sirius XM Holdings Revenue | Liberty SiriusXM Group    
Revenue:    
Total revenue 1,952 1,744
Revenue Share And Royalties    
Cost of services (exclusive of depreciation shown separately below):    
Cost of services 570 492
Revenue Share And Royalties | Liberty SiriusXM Group    
Cost of services (exclusive of depreciation shown separately below):    
Cost of services 570 492
Programming and content    
Cost of services (exclusive of depreciation shown separately below):    
Cost of services 118 106
Programming and content | Liberty SiriusXM Group    
Cost of services (exclusive of depreciation shown separately below):    
Cost of services 118 106
Customer service and billing    
Cost of services (exclusive of depreciation shown separately below):    
Cost of services 118 113
Customer service and billing | Liberty SiriusXM Group    
Cost of services (exclusive of depreciation shown separately below):    
Cost of services 118 113
Other    
Cost of services (exclusive of depreciation shown separately below):    
Cost of services 44 37
Other | Liberty SiriusXM Group    
Cost of services (exclusive of depreciation shown separately below):    
Cost of services 44 37
Primary Formula 1    
Revenue:    
Total revenue 39 246
Cost of services (exclusive of depreciation shown separately below):    
Cost of services 43 148
Primary Formula 1 | Formula One Group    
Revenue:    
Total revenue 39 246
Cost of services (exclusive of depreciation shown separately below):    
Cost of services 43 148
Other    
Revenue:    
Total revenue 22 22
Other | Braves Group    
Revenue:    
Total revenue $ 22 $ 22