Quarterly report pursuant to Section 13 or 15(d)

Financial Information for Tracking Stock Groups - Statement of Operations (Details)

v3.21.2
Financial Information for Tracking Stock Groups - Statement of Operations (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Revenue:        
Total revenue $ 2,876 $ 1,909 $ 5,130 $ 3,922
Cost of services (exclusive of depreciation shown separately below):        
Subscriber acquisition costs 89 48 175 147
Other operating expenses 208 85 292 185
Selling, general and administrative 445 390 855 798
Impairment, restructuring and acquisition costs (137) 24 108 24
Depreciation and amortization 268 266 532 533
Total operating costs and expenses 2,254 1,695 4,366 3,462
Operating income (loss) 622 214 764 460
Other income (expense):        
Interest expense (158) (163) (316) (327)
Share of earnings (losses) of affiliates, net (48) (193) (143) (255)
Realized and unrealized gains (losses) on financial instruments, net 155 (180) 106 (179)
Other, net 13 14 28 31
Total other income (expense) (38) (522) (325) (730)
Earnings (loss) before income taxes 584 (308) 439 (270)
Income tax benefit (expense) (56) 46 75 10
Net earnings (loss) 528 (262) 514 (260)
Less net earnings (loss) attributable to the noncontrolling interests 111 64 160 142
Less net earnings (loss) attributable to redeemable noncontrolling interest     53  
Net earnings (loss) attributable to Liberty stockholders 417 (326) 301 (402)
Liberty SiriusXM Group        
Revenue:        
Total revenue 2,159 1,874 4,217 3,826
Cost of services (exclusive of depreciation shown separately below):        
Subscriber acquisition costs 89 48 175 147
Other operating expenses 66 61 130 132
Selling, general and administrative 374 350 720 692
Impairment, restructuring and acquisition costs (137) 24 108 24
Depreciation and amortization 150 142 299 290
Total operating costs and expenses 1,525 1,491 3,354 3,001
Operating income (loss) 634 383 863 825
Other income (expense):        
Interest expense (123) (120) (243) (231)
Intergroup interest (expense) income   (7)   (7)
Share of earnings (losses) of affiliates, net (70) (146) (183) (148)
Realized and unrealized gains (losses) on financial instruments, net 86 (184)   (189)
Unrealized gains/( loss) on inter-group interests 22 36 32 67
Other, net 8 4 19 17
Total other income (expense) (77) (417) (375) (491)
Earnings (loss) before income taxes 557 (34) 488 334
Income tax benefit (expense) (125) 10 (18) (66)
Net earnings (loss) 432 (24) 470 268
Less net earnings (loss) attributable to the noncontrolling interests 95 64 144 142
Net earnings (loss) attributable to Liberty stockholders 337 (88) 326 126
Braves Group        
Revenue:        
Total revenue 216 11 232 33
Cost of services (exclusive of depreciation shown separately below):        
Other operating expenses 142 24 162 53
Selling, general and administrative 24   45 22
Depreciation and amortization 19 20 34 35
Total operating costs and expenses 185 44 241 110
Operating income (loss) 31 (33) (9) (77)
Other income (expense):        
Interest expense (6) (6) (12) (13)
Share of earnings (losses) of affiliates, net 8 (1) 11 3
Realized and unrealized gains (losses) on financial instruments, net (1) (1) 1 (10)
Unrealized gains/( loss) on inter-group interests 1 (7) (27) 88
Other, net 1 1    
Total other income (expense) 3 (14) (27) 68
Earnings (loss) before income taxes 34 (47) (36) (9)
Income tax benefit (expense) (9) 9 2 24
Net earnings (loss) 25 (38) (34) 15
Net earnings (loss) attributable to Liberty stockholders 25 (38) (34) 15
Formula One Group        
Revenue:        
Total revenue 501 24 681 63
Cost of services (exclusive of depreciation shown separately below):        
Selling, general and administrative 47 40 90 84
Depreciation and amortization 99 104 199 208
Total operating costs and expenses 544 160 771 351
Operating income (loss) (43) (136) (90) (288)
Other income (expense):        
Interest expense (29) (37) (61) (83)
Intergroup interest (expense) income   7   7
Share of earnings (losses) of affiliates, net 14 (46) 29 (110)
Realized and unrealized gains (losses) on financial instruments, net 70 5 105 20
Unrealized gains/( loss) on inter-group interests (23) (29) (5) (155)
Other, net 4 9 9 14
Total other income (expense) 36 (91) 77 (307)
Earnings (loss) before income taxes (7) (227) (13) (595)
Income tax benefit (expense) 78 27 91 52
Net earnings (loss) 71 (200) 78 (543)
Less net earnings (loss) attributable to the noncontrolling interests 16   16  
Less net earnings (loss) attributable to redeemable noncontrolling interest     53  
Net earnings (loss) attributable to Liberty stockholders 55 (200) 9 (543)
Sirius XM Holdings Revenue        
Revenue:        
Total revenue 2,159 1,874 4,217 3,826
Sirius XM Holdings Revenue | Liberty SiriusXM Group        
Revenue:        
Total revenue 2,159 1,874 4,217 3,826
Revenue Share And Royalties        
Cost of services (exclusive of depreciation shown separately below):        
Cost of services 663 587 1,303 1,157
Revenue Share And Royalties | Liberty SiriusXM Group        
Cost of services (exclusive of depreciation shown separately below):        
Cost of services 663 587 1,303 1,157
Programming and content        
Cost of services (exclusive of depreciation shown separately below):        
Cost of services 135 110 265 228
Programming and content | Liberty SiriusXM Group        
Cost of services (exclusive of depreciation shown separately below):        
Cost of services 135 110 265 228
Customer service and billing        
Cost of services (exclusive of depreciation shown separately below):        
Cost of services 127 122 244 240
Customer service and billing | Liberty SiriusXM Group        
Cost of services (exclusive of depreciation shown separately below):        
Cost of services 127 122 244 240
Other        
Cost of services (exclusive of depreciation shown separately below):        
Cost of services 58 47 110 91
Other | Liberty SiriusXM Group        
Cost of services (exclusive of depreciation shown separately below):        
Cost of services 58 47 110 91
Primary Formula 1        
Revenue:        
Total revenue 501 24 681 63
Cost of services (exclusive of depreciation shown separately below):        
Cost of services 398 16 482 59
Primary Formula 1 | Formula One Group        
Revenue:        
Total revenue 501 24 681 63
Cost of services (exclusive of depreciation shown separately below):        
Cost of services 398 16 482 59
Other        
Revenue:        
Total revenue 216 11 232 33
Other | Braves Group        
Revenue:        
Total revenue $ 216 $ 11 $ 232 $ 33