Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations

v3.20.2
Condensed Consolidated Statements of Operations - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Revenue:        
Total revenue $ 2,732 $ 2,856 $ 6,654 $ 7,673
Cost of services (exclusive of depreciation shown separately below):        
Subscriber acquisition costs 110 101 257 313
Other operating expenses 154 223 339 511
Selling, general and administrative 423 440 1,221 1,275
Acquisitions and restructuring (note 3)     24 83
Depreciation and amortization 279 271 812 790
Total operating costs and expenses 2,412 2,349 5,874 6,505
Operating income (loss) 320 507 780 1,168
Other income (expense):        
Interest expense (153) (169) (480) (495)
Share of earnings (losses) of affiliates, net (note 7) (187) 55 (442) 69
Realized and unrealized gains (losses) on financial instruments, net (note 6) 16 14 (163) (171)
Other, net (32) (47) (1) (18)
Total other income (expense) (356) (147) (1,086) (615)
Earnings (loss) before income taxes (36) 360 (306) 553
Income tax (expense) benefit (7) (98) 3 (226)
Net earnings (loss) (43) 262 (303) 327
Less net earnings (loss) attributable to the noncontrolling interests 71 69 213 176
Net earnings (loss) attributable to Liberty stockholders (114) 193 (516) 151
Liberty SiriusXM Group        
Revenue:        
Total revenue 2,025 2,011 5,851 5,732
Cost of services (exclusive of depreciation shown separately below):        
Subscriber acquisition costs 110 101 257 313
Other operating expenses 64 78 196 206
Selling, general and administrative 363 363 1,055 1,050
Acquisitions and restructuring (note 3)     24 83
Depreciation and amortization 142 135 432 396
Total operating costs and expenses 1,574 1,557 4,575 4,558
Operating income (loss) 451 454 1,276 1,174
Other income (expense):        
Interest expense (116) (115) (347) (326)
Share of earnings (losses) of affiliates, net (note 7) (183) (7) (331) (18)
Realized and unrealized gains (losses) on financial instruments, net (note 6) (39) (10) (228) 6
Other, net (36) (51) (19) (42)
Total other income (expense) (349) (183) (840) (380)
Earnings (loss) before income taxes 102 271 436 794
Income tax (expense) benefit (22) (63) (88) (251)
Net earnings (loss) 80 208 348 543
Less net earnings (loss) attributable to the noncontrolling interests 68 68 210 175
Net earnings (loss) attributable to Liberty stockholders $ 12 $ 140 $ 138 $ 368
Basic net earnings (loss) attributable to Liberty stockholders per common share        
Series A, B and C common stock, basic earnings loss per share $ 0.03 $ 0.43 $ 0.42 $ 1.12
Diluted net earnings (loss) attributable to Liberty stockholders per common share        
Series A, B and C common stock, diluted earnings loss per share $ 0.03 $ 0.42 $ 0.31 $ 1.11
Braves Group        
Revenue:        
Total revenue $ 110 $ 212 $ 143 $ 442
Cost of services (exclusive of depreciation shown separately below):        
Other operating expenses 90 145 143 305
Selling, general and administrative 17 26 39 77
Depreciation and amortization 19 20 54 54
Total operating costs and expenses 126 191 236 436
Operating income (loss) (16) 21 (93) 6
Other income (expense):        
Interest expense (6) (6) (19) (20)
Share of earnings (losses) of affiliates, net (note 7) (5) 4 (2) 13
Realized and unrealized gains (losses) on financial instruments, net (note 6)   (2) (10) (6)
Other, net (1)   (1) 1
Total other income (expense) (22) (2) 46 (38)
Earnings (loss) before income taxes (38) 19 (47) (32)
Income tax (expense) benefit 7 (7) 31 (1)
Net earnings (loss) (31) 12 (16) (33)
Net earnings (loss) attributable to Liberty stockholders $ (31) $ 12 $ (16) $ (33)
Basic net earnings (loss) attributable to Liberty stockholders per common share        
Series A, B and C common stock, basic earnings loss per share $ (0.61) $ 0.24 $ (0.31) $ (0.65)
Diluted net earnings (loss) attributable to Liberty stockholders per common share        
Series A, B and C common stock, diluted earnings loss per share $ (0.61) $ 0.16 $ (1.57) $ (0.65)
Formula One Group        
Revenue:        
Total revenue $ 597 $ 633 $ 660 $ 1,499
Cost of services (exclusive of depreciation shown separately below):        
Selling, general and administrative 43 51 127 148
Depreciation and amortization 118 116 326 340
Total operating costs and expenses 712 601 1,063 1,511
Operating income (loss) (115) 32 (403) (12)
Other income (expense):        
Interest expense (31) (48) (114) (149)
Share of earnings (losses) of affiliates, net (note 7) 1 58 (109) 74
Realized and unrealized gains (losses) on financial instruments, net (note 6) 55 26 75 (171)
Other, net 5 4 19 23
Total other income (expense) 15 38 (292) (197)
Earnings (loss) before income taxes (100) 70 (695) (209)
Income tax (expense) benefit 8 (28) 60 26
Net earnings (loss) (92) 42 (635) (183)
Less net earnings (loss) attributable to the noncontrolling interests 3 1 3 1
Net earnings (loss) attributable to Liberty stockholders $ (95) $ 41 $ (638) $ (184)
Basic net earnings (loss) attributable to Liberty stockholders per common share        
Series A, B and C common stock, basic earnings loss per share $ (0.41) $ 0.18 $ (2.75) $ (0.80)
Diluted net earnings (loss) attributable to Liberty stockholders per common share        
Series A, B and C common stock, diluted earnings loss per share $ (0.41) $ 0.18 $ (2.75) $ (0.80)
Sirius XM Holdings Revenue        
Revenue:        
Total revenue $ 2,025 $ 2,011 $ 5,851 $ 5,732
Sirius XM Holdings Revenue | Liberty SiriusXM Group        
Revenue:        
Total revenue 2,025 2,011 5,851 5,732
Revenue Share And Royalties        
Cost of services (exclusive of depreciation shown separately below):        
Cost of services 602 592 1,759 1,684
Revenue Share And Royalties | Liberty SiriusXM Group        
Cost of services (exclusive of depreciation shown separately below):        
Cost of services 602 592 1,759 1,684
Programming and content        
Cost of services (exclusive of depreciation shown separately below):        
Cost of services 123 116 351 338
Programming and content | Liberty SiriusXM Group        
Cost of services (exclusive of depreciation shown separately below):        
Cost of services 123 116 351 338
Customer service and billing        
Cost of services (exclusive of depreciation shown separately below):        
Cost of services 119 120 359 352
Customer service and billing | Liberty SiriusXM Group        
Cost of services (exclusive of depreciation shown separately below):        
Cost of services 119 120 359 352
Other        
Cost of services (exclusive of depreciation shown separately below):        
Cost of services 51 52 142 136
Other | Liberty SiriusXM Group        
Cost of services (exclusive of depreciation shown separately below):        
Cost of services 51 52 142 136
Primary Formula 1        
Revenue:        
Total revenue 597 633 660 1,499
Cost of services (exclusive of depreciation shown separately below):        
Cost of services 551 434 610 1,023
Primary Formula 1 | Formula One Group        
Revenue:        
Total revenue 597 633 660 1,499
Cost of services (exclusive of depreciation shown separately below):        
Cost of services 551 434 610 1,023
Other        
Revenue:        
Total revenue 110 212 143 442
Other | Braves Group        
Revenue:        
Total revenue $ 110 $ 212 $ 143 $ 442