Annual report pursuant to Section 13 and 15(d)

Consolidated Statements Of Operations

v3.8.0.1
Consolidated Statements Of Operations - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Dec. 31, 2017
Sep. 30, 2017
Jun. 30, 2017
Mar. 31, 2017
Dec. 31, 2016
Sep. 30, 2016
Jun. 30, 2016
Mar. 31, 2016
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Revenue:                      
Subscriber revenue                 $ 4,473 $ 4,194 $ 3,807
Formula 1 revenue                 1,783    
Other revenue                 1,338 1,082 988
Total Revenue $ 1,994 $ 2,065 $ 2,140 $ 1,395 $ 1,321 $ 1,385 $ 1,366 $ 1,204 7,594 5,276 4,795
Revenue share and royalties                 1,210 1,109 1,035
Programming and content                 388 354 267
Customer service and billing                 385 387 380
Other                 119 144 141
Cost of Formula 1 revenue                 1,219    
Subscriber acquisition costs                 499 513 533
Other operating expense                 394 306 262
Selling, general and administrative                 1,162 886 861
Legal settlement, net                   (511)  
Depreciation and amortization                 824 354 362
Total operating costs and expenses                 6,200 3,542 3,841
Operating income (loss) 331 382 422 259 273 352 328 781 1,394 1,734 954
Other income (expense):                      
Interest expense                 (591) (362) (328)
Share of earnings (losses) of affiliates, net                 104 14 (40)
Realized and unrealized gains (losses) on financial instruments, net                 (88) 37 (140)
Other, net                 8 (4) 12
Total other income (expense)                 (567) (315) (496)
Earnings (loss) from continuing operations before income taxes                 827 1,419 458
Income tax (expense) benefit                 1,063 (495) (210)
Net earnings (loss) 1,429 261 156 44 186 169 142 427 1,890 924 248
Less net earnings (losses) attributable to the noncontrolling interests                 536 244 184
Net earnings (loss) attributable to Liberty stockholders                 1,354 680 64
Liberty Media Corporation                      
Other income (expense):                      
Net earnings (loss) attributable to Liberty stockholders             $ 13 $ 364   $ 377 $ 64
Basic net earnings (loss) attributable to Liberty stockholders per common share                      
Series A, B and C common stock, basic earnings loss per share             $ 0.04 $ 1.09   $ 1.13 $ 0.19
Diluted net earnings (loss) attributable to Liberty stockholders per common share                      
Series A, B and C common stock, diluted earnings loss per share             $ 0.04 $ 1.08   $ 1.12 $ 0.19
Liberty Sirius XM Group                      
Revenue:                      
Subscriber revenue                 4,473 $ 4,194 $ 3,807
Other revenue                 952 820 745
Total Revenue                 5,425 5,014 4,552
Revenue share and royalties                 1,210 1,109 1,035
Programming and content                 388 354 267
Customer service and billing                 385 387 380
Other                 119 144 141
Subscriber acquisition costs                 499 513 533
Other operating expense                 113 82 73
Selling, general and administrative                 812 761 728
Depreciation and amortization                 352 312 322
Total operating costs and expenses                 3,878 3,662 3,479
Operating income (loss)                 1,547 1,352 1,073
Other income (expense):                      
Interest expense                 (356) (342) (307)
Share of earnings (losses) of affiliates, net                 29 13 (1)
Realized and unrealized gains (losses) on financial instruments, net                 (16)    
Other, net                 (11) (25)  
Total other income (expense)                 (354) (354) (308)
Earnings (loss) from continuing operations before income taxes                 1,193 998 765
Income tax (expense) benefit                 466 (341) (322)
Net earnings (loss)                 1,659 657 443
Less net earnings (losses) attributable to the noncontrolling interests                 535 244 184
Net earnings (loss) attributable to Liberty stockholders $ 694 $ 183 $ 123 $ 124 $ 119 $ 96 $ 82   $ 1,124 $ 297  
Basic net earnings (loss) attributable to Liberty stockholders per common share                      
Series A, B and C common stock, basic earnings loss per share $ 2.07 $ 0.54 $ 0.37 $ 0.37 $ 0.36 $ 0.29 $ 0.24   $ 3.35 $ 0.89  
Diluted net earnings (loss) attributable to Liberty stockholders per common share                      
Series A, B and C common stock, diluted earnings loss per share $ 2.04 $ 0.54 $ 0.36 $ 0.37 $ 0.35 $ 0.28 $ 0.24   $ 3.31 $ 0.88  
Braves Group                      
Revenue:                      
Other revenue                 $ 386 $ 262 243
Total Revenue                 386 262 243
Other operating expense                 281 224 189
Selling, general and administrative                 151 67 61
Depreciation and amortization                 67 32 31
Total operating costs and expenses                 499 323 281
Operating income (loss)                 (113) (61) (38)
Other income (expense):                      
Interest expense                 (15) (1) (1)
Share of earnings (losses) of affiliates, net                 78 9 9
Realized and unrealized gains (losses) on financial instruments, net                   1  
Other, net                 3    
Total other income (expense)                 51 (18) 8
Earnings (loss) from continuing operations before income taxes                 (62) (79) (30)
Income tax (expense) benefit                 36 17 10
Net earnings (loss)                 (26) (62) (20)
Less net earnings (losses) attributable to the noncontrolling interests                 (1)    
Net earnings (loss) attributable to Liberty stockholders $ 4 $ 22 $ (2) $ (49) $ (40) $ (22) $ 32   $ (25) $ (30)  
Basic net earnings (loss) attributable to Liberty stockholders per common share                      
Series A, B and C common stock, basic earnings loss per share $ 0.08 $ 0.45 $ (0.04) $ (1.00) $ (0.82) $ (0.45) $ 0.89   $ (0.51) $ (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 $ 0.07 $ 0.45 $ (0.04) $ (1.00) $ (0.82) $ (0.45) $ 0.11   $ (0.51) $ (0.65)  
Formula One Group                      
Revenue:                      
Formula 1 revenue                 $ 1,783    
Total Revenue                 1,783    
Cost of Formula 1 revenue                 1,219    
Selling, general and administrative                 199 $ 58 72
Legal settlement, net                   (511)  
Depreciation and amortization                 405 10 9
Total operating costs and expenses                 1,823 (443) 81
Operating income (loss)                 (40) 443 (81)
Other income (expense):                      
Interest expense                 (220) (19) (20)
Share of earnings (losses) of affiliates, net                 (3) (8) (48)
Realized and unrealized gains (losses) on financial instruments, net                 (72) 36 (140)
Other, net                 16 21 12
Total other income (expense)                 (264) 57 (196)
Earnings (loss) from continuing operations before income taxes                 (304) 500 (277)
Income tax (expense) benefit                 561 (171) 102
Net earnings (loss)                 257 329 $ (175)
Less net earnings (losses) attributable to the noncontrolling interests                 2    
Net earnings (loss) attributable to Liberty stockholders $ 415 $ (37) $ (27) $ (96) $ 40 $ 41 $ (45)   $ 255 $ 36  
Basic net earnings (loss) attributable to Liberty stockholders per common share                      
Series A, B and C common stock, basic earnings loss per share $ 1.80 $ (0.17) $ (0.13) $ (0.55) $ 0.48 $ 0.49 $ (0.54)   $ 1.23 $ 0.43  
Diluted net earnings (loss) attributable to Liberty stockholders per common share                      
Series A, B and C common stock, diluted earnings loss per share $ 1.79 $ (0.17) $ (0.13) $ (0.55) $ 0.47 $ 0.48 $ (0.54)   $ 1.21 $ 0.42