Annual report pursuant to Section 13 and 15(d)

Investments In Affiliates Accounted For Using The Equity Method (Tables)

v2.4.1.9
Investments In Affiliates Accounted For Using The Equity Method (Tables)
12 Months Ended
Dec. 31, 2014
Investments in Affiliates Accounted for Using the Equity Method  
Schedule Of Equity Ownership And Carrying Amount

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2014

 

December 31, 2013

 

 

    

Percentage

    

Market

    

Carrying

    

Carrying

 

 

 

ownership

 

Value

 

amount

 

amount

 

 

 

dollar amounts in millions

 

Charter (a)

 

NA

 

$

 —

 

 

 —

 

2,395 

 

Live Nation (d)(e)

 

27% 

 

 

1,403 

 

 

396 

 

409 

 

SIRIUS XM Canada (b)

 

37% 

 

 

247 

 

 

237 

 

273 

 

Other

 

various

 

 

NA

 

 

218 

 

222 

 

 

 

 

 

 

 

 

$

851 

 

3,299 

 

 

Schedule Of Liberty's Share Of Earnings (Losses) Of Affiliates

 

 

 

 

 

 

 

 

 

 

 

Years ended December 31,

 

 

    

2014

    

2013

    

2012

 

 

 

amounts in millions

 

Charter (a)

 

$

(94)

 

(83)

 

NA

 

SIRIUS XM (b)(c)

 

 

 —

 

 

1,367 

 

Live Nation (d)

 

 

(30)

 

(18)

 

(45)

 

SIRIUS XM Canada (b)

 

 

 

 

NA

 

Other

 

 

 

54 

 

24 

 

 

 

$

(113)

 

(32)

 

1,346 

 


(a)

As discussed below, Liberty acquired its interest in Charter during May 2013 for approximately $2.6 billion. Our share of losses related to Charter included $60 million and $51 million of losses due to the amortization of the excess basis of our investment during the years ended December 31, 2014 and 2013, respectively. As discussed in note 1, Liberty’s investment in Charter was spun off to stockholders as part of the Broadband Spin-Off, which was completed on November 4, 2014.

(b)

On January 18, 2013, as discussed in note 3, Liberty acquired an additional 50 million common shares and acquired a controlling interest in SIRIUS XM and as a result consolidates SIRIUS XM as of such date. SIRIUS XM has an investment in SIRIUS XM Canada that was recorded at fair value in purchase accounting. See discussion below of SIRIUS XM Canada.

(c)

SIRIUS XM recognized a $3.0 billion tax benefit during the year ended December 31, 2012.  SIRIUS XM recorded the tax benefit as the result of significant positive evidence that a valuation allowance was no longer necessary for its recorded deferred tax assets.  The Company recognized its portion of this benefit ($1,229 million) based on our ownership percentage at the time of the recognition of the deferred tax benefit by SIRIUS XM.

(d)

During the year ended December 31, 2014, Liberty acquired an additional 1.7 million shares of Live Nation for approximately $39 million. During the year ended December 31, 2013, Liberty acquired an additional 1.7 million shares of Live Nation for approximately $19 million. During the year ended December 31, 2012, Liberty acquired approximately 11 million shares of Live Nation for $107 million.

(e)

See note 10 for details regarding the number and fair value of shares pledged as collateral pursuant to certain margin loan agreements as of December 31, 2014.