Quarterly report pursuant to Section 13 or 15(d)

Information About Liberty's Operating Segments (Tables)

v3.21.1
Information About Liberty's Operating Segments (Tables)
3 Months Ended
Mar. 31, 2021
Information About Liberty's Operating Segments  
Schedule of revenue disaggregated by source

Three months ended

March 31,

    

2021

    

2020

 

amounts in millions

Liberty SiriusXM Group

 

Sirius XM Holdings:

Subscriber

$

1,611

1,585

Advertising

 

354

285

Equipment

57

41

Other

36

41

Total Liberty SiriusXM Group

2,058

1,952

Braves Group

 

 

Corporate and other:

 

 

Baseball

 

7

 

12

Development

 

9

 

10

Total Braves Group

16

22

Formula One Group

Formula 1:

Primary

159

17

Other

21

22

Total Formula One Group

180

39

Consolidated Liberty

$

2,254

2,013

Adjusted OIBDA by segment

Three months ended

March 31,

    

2021

    

2020

 

amounts in millions

Liberty SiriusXM Group

Sirius XM Holdings

$

682

 

639

Live Nation

(152)

NA

Corporate and other

 

(5)

 

(7)

525

632

Eliminate equity method affiliate

152

NA

Total Liberty SiriusXM Group

 

677

 

632

Braves Group

Corporate and other

 

(22)

 

(26)

Total Braves Group

 

(22)

 

(26)

Formula One Group

 

Formula 1

 

66

 

(32)

Live Nation

NA

(21)

Corporate and other

(7)

(10)

59

(63)

Eliminate equity method affiliate

NA

21

Total Formula One Group

59

(42)

Consolidated Liberty

$

714

 

564

Other Information By Segment

March 31, 2021

    

Total

    

Investments

    

Capital

 

assets

in affiliates

expenditures

amounts in millions

Liberty SiriusXM Group

Sirius XM Holdings

$

29,668

 

731

 

78

Live Nation

10,920

163

19

Corporate and other

2,106

60

42,694

954

97

Eliminate equity method affiliate

(10,920)

(163)

(19)

Total Liberty SiriusXM Group

31,774

791

78

Braves Group

Corporate and other

1,572

97

10

Total Braves Group

1,572

97

10

Formula One Group

Formula 1

8,808

3

Corporate and other

 

3,193

 

55

 

Total Formula One Group

12,001

55

3

Elimination (1)

(882)

Consolidated Liberty

$

44,465

 

943

 

91

(1) This amount is primarily comprised of the call spread between the Formula One Group and the Liberty SiriusXM Group with respect to the Live Nation shares that were reattributed to the Liberty SiriusXM Group and the intergroup interests in the Braves Group held by the Formula One Group and the Liberty SiriusXM Group and the intergroup interest in the Formula One Group held by the Liberty SiriusXM Group. The Braves Group intergroup interests attributable to the Formula One Group and the Liberty SiriusXM Group are presented as assets of the Formula One Group and Liberty SiriusXM Group, respectively, and are presented as liabilities of the Braves Group in the attributed financial statements. The Formula One Group intergroup interest attributable to the Liberty SiriusXM Group is presented as an asset of the Liberty SiriusXM Group and is presented as a liability of the Formula One Group in the attributed financial statements. The offsetting amounts between tracking stock groups are eliminated in consolidation.
Reconciliation of Adjusted OIBDA to operating income (loss) and earnings (loss)

Three months ended

March 31,

    

2021

    

2020

 

amounts in millions

Adjusted OIBDA

$

714

 

564

Impairment, restructuring and acquisition costs (note 10)

(245)

Legal reserves

16

Stock-based compensation

 

(63)

 

(67)

Depreciation and amortization

 

(264)

 

(267)

Operating income (loss)

142

246

Interest expense

 

(158)

 

(164)

Share of earnings (losses) of affiliates, net

 

(95)

 

(62)

Realized and unrealized gains (losses) on financial instruments, net

 

(49)

 

1

Other, net

 

15

 

17

Earnings (loss) before income taxes

$

(145)

 

38