Annual report pursuant to Section 13 and 15(d)

Investments In Available-For-Sale Securities And Other Cost Investments (Tables)

v2.4.0.6
Investments In Available-For-Sale Securities And Other Cost Investments (Tables)
 12 Months Ended
Dec. 31, 2012
Investments In Available-For-Sale Securities And Other Cost Investments  
Available-for-sale Securities [Table Text Block]
Investments in AFS securities, including Fair Value Option Securities separately aggregated, and other cost investments are summarized as follows:
 
December 31, 2012
 
December 31,
2011

 
amounts in millions
Fair Value Option Securities
 
 
 
  Time Warner Inc.(1)
$
211

 
340

  Time Warner Cable Inc.
230

 
150

  Sprint Nextel Corporation ("Sprint")(2)
—

 
44

  Viacom, Inc. (3)
192

 
345

  Century Link, Inc.
70

 
67

  Barnes & Noble, Inc.
262

 
253

  Other equity securities
58

 
34

  Other debt securities
56

 
202

Total Fair Value Option Securities
1,079

 
1,435

 AFS and cost investments
 
 
 
  SIRIUS XM debt securities (4)
249

 
384

  Live Nation debt Securities (5)
25

 
24

Other AFS and cost investments
39

 
16

Total AFS and cost investments
313

 
424


$
1,392

 
1,859

___________________________
(1)
In November 2012, Liberty physically settled a call option on 5 million shares of Time Warner Inc. common stock for proceeds of $225 million offset by a $24 million payment to settle the derivative obligation.
(2)
In November and December 2012, Liberty physically settled call options on 15 million shares of Sprint common stock for proceeds of $84 million offset by a $33 million payment to settle the derivative obligation.
(3)
In the fourth quarter of 2012, Liberty physically settled call options on 2 million shares of Viacom, Inc. common stock for proceeds of $105 million offset by a $6 million payment to settle the derivative obligation.
(4)
During 2012 SIRIUS XM tendered and retired the 13% and 9.75% bonds of which Liberty owned approximately $125 million in principal.
(5)
In June 2011, Liberty acquired an additional 5.5 million shares of Live Nation for $58 million. The additional ownership required the Company to account for the investment as an equity method affiliate. For additional discussion see note 7. Liberty continues to hold debt securities in Live Nation which are included in available-for-sale securities.
Unrealized Holdings Gains And Losses
Unrealized holding gains and losses related to investments in AFS securities are summarized below.
 
December 31, 2012
 
December 31, 2011
 
Equity
securities
 
Debt
securities
 
Equity
securities
 
Debt
securities
 
amounts in millions
Gross unrealized holding gains
$
2

 
37

 
1

 
57

Gross unrealized holding losses (1)
$
—

 
—

 
—

 
—

___________________________

(1)
Liberty does not currently have any gross unrealized losses that have been in such position for greater than a year.