Liberty Media Corporation Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Long-Term Debt (Tables)

Long-Term Debt (Tables)

12 Months Ended

Dec. 31, 2017


	Outstanding		Carrying value
	Principal		December 31,		December 31,
	December 31, 2017		2017		2016
Liberty SiriusXM Group
Corporate level notes and loans:
Margin loans	$	750		750	250
Subsidiary notes and loans:
SIRIUS XM 5.75% Senior Notes due 2021		—		—	596
SIRIUS XM 5.25% Senior Secured Notes due 2022		—		—	405
SIRIUS XM 4.25% Senior Notes due 2020		—		—	497
SIRIUS XM 3.875% Senior Notes due 2022		1,000		992	—
SIRIUS XM 4.625% Senior Notes due 2023		500		497	496
SIRIUS XM 6% Senior Notes due 2024		1,500		1,488	1,487
SIRIUS XM 5.375% Senior Notes due 2025		1,000		991	990
SIRIUS XM 5.375% Senior Notes due 2026		1,000		990	989
SIRIUS XM 5.0% Senior Notes due 2027		1,500		1,486	—
SIRIUS XM Senior Secured Revolving Credit Facility		300		300	390
SIRIUS XM leases		11		11	14
Less deferred financing costs				(9)	(7)
Total Liberty SiriusXM Group		7,561		7,496	6,107
Braves Group
Subsidiary notes and loans:
Notes and loans		667		667	338
Less deferred financing costs				(5)	(10)
Total Braves Group		667		662	328
Formula One Group
Corporate level notes and loans:
1.375% Cash Convertible Notes due 2023		1,000		1,146	1,076
1% Cash Convertible Notes due 2023		450		505	—
2.25% Exchangeable Senior Debentures due 2046		445		464	470
Live Nation Margin Loan		350		350	—
Other		35		35	37
Subsidiary notes and loans:
Bank Loans		3,302		3,314	—
Less deferred financing costs				(18)	—
Total Formula One Group		5,582		5,796	1,583
Total debt	$	13,810		13,954	8,018
Less debt classified as current				(768)	(5)
Total long-term debt			$	13,186	8,013

Schedule of Braves Holdings Debt


	Carrying value			As of December 31, 2017
	December 31,		December 31,	Borrowing	Weighted avg	Maturity
	2017		2016	Capacity	interest rate	Date
	amounts in millions
Operating credit facilities	$	98	61	185	2.43%	various
Ballpark funding
Term loan		55	10	55	3.06%	August 2021
Senior secured note		200	200	200	3.77%	August 2041
Floating rate notes		75	—	75	3.06%	September 2029
Mixed-use credit facilities (a)		200	67	237	3.85%	various
Spring training credit facility		39	—	40	2.56%	December 2022
Total Braves Holdings	$	667	338	792

(a)

As discussed in note 7, 464 thousand Time Warner shares with a fair value of $42 million were pledged as collateral to certain mixed-use facilities as of December 31, 2017.

Fair Value of Debt

The fair value, based on quoted market prices of the same instruments but not considered to be active markets (Level 2), of SIRIUS XM’s publicly traded debt securities is as follows (amounts in millions):


	December 31,
	2017
SIRIUS XM 3.875% Senior Notes due 2022	$	1,002
SIRIUS XM 4.625% Senior Notes due 2023	$	510
SIRIUS XM 6% Senior Notes due 2024	$	1,587
SIRIUS XM 5.375% Senior Notes due 2025	$	1,038
SIRIUS XM 5.375% Senior Notes due 2026	$	1,039
SIRIUS XM 5.0% Senior Notes due 2027	$	1,500

Schedule of Maturities of Long-term Debt

The annual principal maturities of outstanding debt obligations for each of the next five years is as follows (amounts in millions):


2018	$	770
2019	$	544
2020	$	437
2021	$	59
2022	$	1,052

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

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+ Details