Information About Liberty's Operating Segments (Tables)
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9 Months Ended |
Sep. 30, 2020 |
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| Information About Liberty's Operating Segments |
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| Schedule of revenue disaggregated by source |
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Three months ended |
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Nine months ended |
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September 30, |
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September 30, |
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2020 |
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2019 |
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2020 |
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2019 |
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amounts in millions |
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Liberty SiriusXM Group |
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Sirius XM Holdings: |
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|
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|
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Subscriber |
|
$ |
1,594 |
|
1,556 |
|
4,757 |
|
4,551 |
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Advertising |
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|
345 |
|
366 |
|
866 |
|
933 |
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Equipment |
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|
47 |
|
45 |
|
113 |
|
127 |
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Other |
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|
39 |
|
44 |
|
115 |
|
121 |
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Total Liberty SiriusXM Group |
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|
2,025 |
|
2,011 |
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5,851 |
|
5,732 |
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Braves Group |
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Corporate and other: |
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Baseball |
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102 |
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203 |
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119 |
|
415 |
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Development |
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8 |
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9 |
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24 |
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27 |
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Total Braves Group |
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|
110 |
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212 |
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143 |
|
442 |
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Formula One Group |
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Formula 1: |
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Primary |
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|
524 |
|
553 |
|
549 |
|
1,282 |
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Other |
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|
73 |
|
80 |
|
111 |
|
217 |
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Total Formula One Group |
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|
597 |
|
633 |
|
660 |
|
1,499 |
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Consolidated Liberty |
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$ |
2,732 |
|
2,856 |
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6,654 |
|
7,673 |
|
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| Adjusted OIBDA by segment |
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Three months ended |
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Nine months ended |
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September 30, |
|
September 30, |
|
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|
2020 |
|
2019 |
|
2020 |
|
2019 |
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|
amounts in millions |
|
Liberty SiriusXM Group |
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|
|
|
|
|
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Sirius XM Holdings |
|
$ |
661 |
|
659 |
|
1,915 |
|
1,871 |
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Corporate and other |
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|
(7) |
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(4) |
|
(26) |
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(10) |
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Total Liberty SiriusXM Group |
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|
654 |
|
655 |
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1,889 |
|
1,861 |
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Braves Group |
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Corporate and other |
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|
5 |
|
45 |
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(49) |
|
73 |
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Total Braves Group |
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|
5 |
|
45 |
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(49) |
|
73 |
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Formula One Group |
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Formula 1 |
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|
14 |
|
162 |
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(34) |
|
372 |
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Corporate and other |
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(6) |
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(8) |
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(26) |
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(23) |
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Total Formula One Group |
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|
8 |
|
154 |
|
(60) |
|
349 |
|
Consolidated Liberty |
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$ |
667 |
|
854 |
|
1,780 |
|
2,283 |
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| Other Information By Segment |
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September 30, 2020 |
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Total |
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Investments |
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Capital |
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|
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assets |
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in affiliates |
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expenditures |
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amounts in millions |
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Liberty SiriusXM Group |
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|
|
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Sirius XM Holdings |
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$ |
30,517 |
|
697 |
|
230 |
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Corporate and other |
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|
1,093 |
|
289 |
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— |
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Total Liberty SiriusXM Group |
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|
31,610 |
|
986 |
|
230 |
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Braves Group |
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Corporate and other |
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|
1,628 |
|
87 |
|
69 |
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Total Braves Group |
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1,628 |
|
87 |
|
69 |
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Formula One Group |
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|
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Formula 1 |
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|
8,807 |
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— |
|
7 |
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Corporate and other |
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|
2,424 |
|
33 |
|
10 |
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Total Formula One Group |
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|
11,231 |
|
33 |
|
17 |
|
Elimination (1) |
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|
(680) |
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— |
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— |
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Consolidated Liberty |
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$ |
43,789 |
|
1,106 |
|
316 |
|
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(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, as discussed in note 2. 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. |
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| Reconciliation of Adjusted OIBDA to operating income (loss) and earnings (loss) |
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|
Three months ended |
|
Nine months ended |
|
|
|
September 30, |
|
September 30, |
|
|
|
2020 |
|
2019 |
|
2020 |
|
2019 |
|
|
|
|
amounts in millions |
|
Adjusted OIBDA |
|
$ |
667 |
|
854 |
|
1,780 |
|
2,283 |
|
Legal settlements and reserves |
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|
— |
|
— |
|
16 |
|
(25) |
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Stock-based compensation |
|
|
(68) |
|
(76) |
|
(180) |
|
(217) |
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Acquisition and restructuring (note 3) |
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|
— |
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— |
|
(24) |
|
(83) |
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Depreciation and amortization |
|
|
(279) |
|
(271) |
|
(812) |
|
(790) |
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Operating income (loss) |
|
|
320 |
|
507 |
|
780 |
|
1,168 |
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Interest expense |
|
|
(153) |
|
(169) |
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(480) |
|
(495) |
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Share of earnings (losses) of affiliates, net |
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|
(187) |
|
55 |
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(442) |
|
69 |
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Realized and unrealized gains (losses) on financial instruments, net |
|
|
16 |
|
14 |
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(163) |
|
(171) |
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Other, net |
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|
(32) |
|
(47) |
|
(1) |
|
(18) |
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Earnings (loss) before income taxes |
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$ |
(36) |
|
360 |
|
(306) |
|
553 |
|
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