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

Annual report pursuant to Section 13 and 15(d)

Debt (Tables)

Debt (Tables)

12 Months Ended

Dec. 31, 2021


	Outstanding		Carrying value
	Principal		December 31,		December 31,
	December 31, 2021		2021		2020

	amounts in millions
Liberty SiriusXM Group
Corporate level notes and loans:
1.375% Cash Convertible Senior Notes due 2023 (1)	$	1,000		1,540	1,251
2.125% Exchangeable Senior Debentures due 2048 (1)		400		416	418
2.25% Exchangeable Senior Debentures due 2048 (1)		385		644	475
2.75% Exchangeable Senior Debentures due 2049 (1)		604		624	628
0.5% Exchangeable Senior Debentures due 2050 (1)		920		1,332	982
Sirius XM Holdings Margin Loan		875		875	750
Live Nation Margin Loan		—		—	—
Subsidiary notes and loans:
Sirius XM 3.875% Senior Notes due 2022		—		—	997
Sirius XM 4.625% Senior Notes due 2024		—		—	1,488
Sirius XM 5.375% Senior Notes due 2026		—		—	993
Sirius XM 3.125% Senior Notes due 2026		1,000		990	—
Sirius XM 5.0% Senior Notes due 2027		1,500		1,491	1,490
Sirius XM 4.0% Senior Notes due 2028		2,000		1,979	—
Sirius XM 5.50% Senior Notes due 2029		1,250		1,239	1,237
Sirius XM 4.125% Senior Notes due 2030		1,500		1,485	1,484
Sirius XM 3.875% Senior Notes due 2031		1,500		1,484	—
Pandora 1.75% Convertible Senior Notes due 2023		193		177	170
Sirius XM Senior Secured Revolving Credit Facility		—		—	649
Deferred financing costs				(14)	(12)
Total Liberty SiriusXM Group		13,127		14,262	13,000
Braves Group
Subsidiary notes and loans:
Notes and loans		700		700	674
Deferred financing costs				(3)	(4)
Total Braves Group		700		697	670
Formula One Group
Corporate level notes and loans:
1% Cash Convertible Notes due 2023 (1)		386		666	582
2.25% Exchangeable Senior Debentures due 2046 (1)		—		—	209
Other		69		69	74
Subsidiary notes and loans:
Senior Loan Facility		2,902		2,902	2,904
Deferred financing costs				(6)	(10)
Total Formula One Group		3,357		3,631	3,759
Total debt	$	17,184		18,590	17,429
Debt classified as current				(2,891)	(743)
Total long-term debt			$	15,699	16,686

(1) Measured at fair value

Fair Value of Debt

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


	December 31,
	2021
Sirius XM 3.125% Senior Notes due 2026	$	993
Sirius XM 5.0% Senior Notes due 2027	$	1,551
Sirius XM 4.0% Senior Notes due 2028	$	2,000
Sirius XM 5.50% Senior Notes due 2029	$	1,337
Sirius XM 4.125% Senior Notes due 2030	$	1,492
Sirius XM 3.875% Senior Notes due 2031	$	1,459
Pandora 1.75% Senior Notes due 2023	$	220

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):


2022	$	429
2023	$	1,755
2024	$	3,827
2025	$	111
2026	$	1,162

Braves Holdings

Schedule of Braves Holdings Debt


	Carrying value			As of December 31, 2021
	December 31,		December 31,	Borrowing	Weighted avg	Maturity
	2021		2020	Capacity	interest rate	Date

	amounts in millions
Operating credit facilities	$	120	115	185	1.31%	various
Ballpark funding
Senior secured note		178	184	NA	3.77%	September 2041
Floating rate notes		55	60	NA	1.83%	September 2029
Stadium credit facility		46	—	46	1.38%	July 2026
Term loan		—	46	NA	NA	August 2021
Mixed-use credit facilities and loans		271	239	307	3.64%	various
Spring training credit facility		30	30	NA	3.65%	December 2030
Total Braves Holdings	$	700	674

- 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.

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