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

Annual report pursuant to Section 13 and 15(d)

Investments In Affiliates Accounted For Using The Equity Method (Tables)

Investments In Affiliates Accounted For Using The Equity Method (Tables)

12 Months Ended

Dec. 31, 2015

Investments in Affiliates Accounted for Using the Equity Method

Schedule Of Equity Ownership And Carrying Amount


	December 31, 2015					December 31, 2014
	Percentage	Market		Carrying		Carrying
	ownership	Value		amount		amount
	dollar amounts in millions
Live Nation (a)(b)	35%	$	1,711	$	764	396
SIRIUS XM Canada	37%		142		153	237
Other	various		NA		198	218
				$	1,115	851

Schedule Of Liberty's Share Of Earnings (Losses) Of Affiliates


	Years ended December 31,
	2015		2014	2013
	amounts in millions
Charter (c)	$	NA	(94)	(83)
SIRIUS XM (d)		NA	NA	8
Live Nation (a)		(27)	(30)	(18)
SIRIUS XM Canada (d)		(1)	5	7
Other		(12)	6	54
	$	(40)	(113)	(32)

(a)

During September 2014, Liberty entered into a forward contract to acquire up to 15.9 million shares of Live Nation common stock. Prior to the contract’s original expiration during March 2015, the Company extended the contract through October 15, 2015 with expiration occurring on the sixtieth day following the completion of the counterparty’s initial hedge, which was November 27, 2015 and settlement occurring on December 2, 2015. The counterparty acquired the maximum number of Live Nation shares of common stock at a volume weighted average share price of $24.93 per share during September 2015. Liberty settled the contract for $396 million paid to the counterparty. During the year ended December 31, 2014, Liberty acquired an additional 1.7 million shares of Live Nation for approximately $39 million. During the year ended December 31, 2013, Liberty acquired an additional 1.7 million shares of Live Nation for approximately $19 million.

(b)

See note 9 for details regarding the number and fair value of shares pledged as collateral pursuant to certain margin loan agreements as of December 31, 2015.

(c)

As discussed below, Liberty acquired its interest in Charter during May 2013 for approximately $2.6 billion. Our share of losses related to Charter included $60 million and $51 million of losses due to the amortization of the excess basis of our investment during the years ended December 31, 2014 and 2013, respectively. As discussed in note 1, Liberty’s investment in Charter was spun off to stockholders as part of the Broadband Spin-Off, which was completed on November 4, 2014.

(d)

On January 18, 2013, as discussed in note 3, Liberty acquired an additional 50 million common shares and acquired a controlling interest in SIRIUS XM and as a result consolidates SIRIUS XM as of such date. SIRIUS XM has an investment in SIRIUS XM Canada that was recorded at fair value in purchase accounting. See discussion below of SIRIUS XM Canada.