Definitive proxy statements

Pay vs Performance Disclosure

v3.23.1
Pay vs Performance Disclosure
pure in Millions
12 Months Ended
Dec. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Dec. 31, 2020
USD ($)
Pay vs Performance Disclosure [Table]      
Pay vs Performance [Table Text Block]
PAY VERSUS PERFORMANCE
This section provides information about the relationship between compensation actually paid to our Principal Executive Officer and other named executive officers and certain financial performance measures of the Company. For purposes of this section, the amount of compensation actually paid to our Principal Executive Officer and other named executive officers is determined using the valuation methods prescribed by the SEC in Item 402(v) of Regulation S-K. Although the rules describe such amount as compensation actually paid, these amounts are not reflective of the taxable compensation actually paid to our named executive officers in a covered year. As described in more detail below, to determine the amount of compensation actually paid in a covered year, Item 402(v) of Regulation S-K requires that in each covered year we (1) deduct the grant date value of equity awards reported in the Stock Awards or Option Awards columns in the Summary Compensation Table from the Total column in the Summary Compensation Table; (2) add, for awards granted in the covered year, the fair value of the equity awards (i) as of the end of a covered year or (ii) as of the vesting date, as applicable; and (3) add or subtract, for awards granted in, and outstanding at the end of, a prior year (i) the change in the fair value from the end of the prior year to the end of the current year or (ii) from the end of the prior year to the date the awards vest in the covered year, as applicable.
PEO(1)
Non-PEO NEOs(1)
Value of initial fixed $100
investment based on:
(millions)
Year
Summary
Compensation
Table Total for

PEO ($)(2)
Compensation
Actually
Paid to

PEO ($)(3)
Average
Summary
Compensation
Table Total for
non-PEO NEOs

($)(2)
Average
Compensation
Actually Paid to
non-PEO NEOs

($)(3)
Total
Shareholder
Return (TSR) ($)
(4)
Peer
Group

TSR ($)(5)
Net
Income

($)(6)
Adjusted
OIBDA
($)
(7)
2022 22,363,007 7,541,531 1,935,773 1,445,358 LSXMA 81.32 81.00 2,029 3,941
LSXMB 80.21
LSXMK 81.28
FWONA 122.04
FWONK 130.06
BATRA 110.19
BATRK 109.11
2021 21,575,769 48,418,806 1,773,064 2,806,889 LSXMA 105.19 115.71 744 3,481
LSXMB 105.20
LSXMK 105.63
FWONA 135.54
FWONK 137.58
BATRA 96.96
BATRK 95.13
2020 47,123,063 40,074,674 2,738,499 2,198,120 LSXMA 89.35 115.31 (1,391) 2,247
LSXMB 88.97
LSXMK 90.38
FWONA 86.77
FWONK 92.68
BATRA 83.88
BATRK 84.22
(1)
Our Principal Executive Officer (PEO) for each of the fiscal years indicated was Mr. Maffei. Our named executive officers other than our PEO (non-PEO NEOs) for each of the fiscal years indicated were Messrs. Malone, Wendling and Rosenthaler and Ms. Wilm.
(2)
Reflects, for Mr. Maffei, the total compensation reported in the Summary Compensation Table and for the non-PEO NEOs, the average total compensation reported in the Summary Compensation Table in each of the fiscal years indicated.
(3)
Represents the compensation actually paid to Mr. Maffei and the non-PEO NEOs in each of the fiscal years indicated as computed in accordance with Item 402(v) of Regulation S-K, as set forth below:
Compensation actually paid to PEO and Non-PEO NEOs
As Reported in Summary
Compensation Table
(a)
Equity Award Adjustments(b)
Year
Total
Stock
Awards
Option
Awards
Fair Value at
Year End of
Awards
Granted
During Year
that Remain
Outstanding
and
Unvested at
Year End
(c)
Year-over-
Year Change
in Fair Value
of Awards
Granted in
Prior Year
that Remain
Outstanding
and Unvested
at Year End
(d)
Fair Value at
Vesting
Date of
Awards
Granted and
Vested in
Same Year
(e)
Change in
Fair Value
from Prior
Year End to
Vesting Date
of Awards
Granted in
Prior Year and
Vested in
Covered Year
(f)
Total
Compensation
Actually Paid
PEO
2022 22,363,007 (7,800,250) (14,301,548) 7,718,670 (438,347) 7,541,531
2021 21,575,769 (3,954,951) (3,521,474) 4,994,344 25,523,112 3,802,006 48,418,806
2020 47,123,063 (8,343,047) (24,981,192) 17,748,123 (8,070,339) 18,123,375 (1,525,310) 40,074,674
Non-PEO NEOs
2022 1,935,773 (395,466) 396,740 (236,242) (255,447) 1,445,358
2021 1,773,064 (388,774) 467,020 919,194 36,385 2,806,889
2020 2,738,499 (418,577) (791,685) 1,111,192 (219,227) 111,625 (333,708) 2,198,120
(a)
Reflects, for Mr. Maffei, the applicable amounts reported in the Summary Compensation Table and for the non-PEO NEOs, the average of the applicable amounts reported in the Summary Compensation Table in each of the fiscal years indicated.
(b)
The adjustments made to the fair value of equity awards in accordance with Item 402(v) of Regulation S-K do not include adjustments for dividends paid or the fair value of equity awards received in lieu of cash compensation foregone at a named executive officer’s election where such amounts are reported in the Salary, Bonus or All Other Compensation columns of the Summary Compensation Table in accordance with SEC guidance.
(c)
Reflects, with respect to Mr. Maffei, the fair value and, with respect to the non-PEO NEOs, the average of the fair values, as of the end of the covered fiscal year of awards granted in, and remaining outstanding and unvested (in whole or in part) as of the end of, the covered fiscal year.
(d)
Reflects, with respect to Mr. Maffei, the change in fair value, and with respect to the non-PEO NEOs, the average of the change in fair values, from the end of the prior fiscal year to the end of the covered fiscal year of awards granted in prior fiscal years that remained outstanding and unvested (in whole or in part) as of the end of the covered fiscal year.
(e)
Reflects, with respect to Mr. Maffei, the fair value, and with respect to the non-PEO NEOs, the average of the fair values, as of the day awards became vested in the covered fiscal year, when such awards were also granted in the covered fiscal year.
(f)
Reflects, with respect to Mr. Maffei, the change in fair value, and with respect to the non-PEO NEOs, the average of the change in fair values, from the end of the prior fiscal year to the day awards became vested in the covered fiscal year, when such awards were granted in a prior fiscal year.
(4)
For each covered fiscal year, represents the cumulative total stockholder return on an initial fixed $100 investment in each of our Series A, Series B and Series C Liberty SiriusXM common stock (Nasdaq: LSXMA, LSXMB, LSXMK), our Series A and Series C Liberty Formula One common stock (Nasdaq: FWONA, FWONK) and our Series A and Series C Liberty Braves common stock (Nasdaq: BATRA, BATRK) from December 31, 2019 through December 31 of each covered fiscal year.
(5)
For each covered fiscal year, represents the cumulative total stockholder return on an initial fixed $100 investment in the S&P 500 Media Index from December 31, 2019 through December 31 of each covered fiscal year.
(6)
Represents the amount of net income reflected in our consolidated financial statements for each covered fiscal year.
(7)
We define Adjusted OIBDA as operating income (loss) plus depreciation and amortization, stock-based compensation, separately reported litigation settlements, transaction related costs (including acquisition, restructuring, integration, and advisory fees), and impairment charges. For purposes of this disclosure, Adjusted OIBDA includes our attributable interests in our equity investments.
   
Company Selected Measure Name Adjusted OIBDA    
Named Executive Officers, Footnote [Text Block]
(1)
Our Principal Executive Officer (PEO) for each of the fiscal years indicated was Mr. Maffei. Our named executive officers other than our PEO (non-PEO NEOs) for each of the fiscal years indicated were Messrs. Malone, Wendling and Rosenthaler and Ms. Wilm.
(2)
Reflects, for Mr. Maffei, the total compensation reported in the Summary Compensation Table and for the non-PEO NEOs, the average total compensation reported in the Summary Compensation Table in each of the fiscal years indicated.
   
Peer Group Issuers, Footnote [Text Block]
(5)
For each covered fiscal year, represents the cumulative total stockholder return on an initial fixed $100 investment in the S&P 500 Media Index from December 31, 2019 through December 31 of each covered fiscal year.
   
PEO Total Compensation Amount $ 22,363,007 $ 21,575,769 $ 47,123,063
PEO Actually Paid Compensation Amount $ 7,541,531 48,418,806 40,074,674
Adjustment To PEO Compensation, Footnote [Text Block]
(3)
Represents the compensation actually paid to Mr. Maffei and the non-PEO NEOs in each of the fiscal years indicated as computed in accordance with Item 402(v) of Regulation S-K, as set forth below:
Compensation actually paid to PEO and Non-PEO NEOs
As Reported in Summary
Compensation Table
(a)
Equity Award Adjustments(b)
Year
Total
Stock
Awards
Option
Awards
Fair Value at
Year End of
Awards
Granted
During Year
that Remain
Outstanding
and
Unvested at
Year End
(c)
Year-over-
Year Change
in Fair Value
of Awards
Granted in
Prior Year
that Remain
Outstanding
and Unvested
at Year End
(d)
Fair Value at
Vesting
Date of
Awards
Granted and
Vested in
Same Year
(e)
Change in
Fair Value
from Prior
Year End to
Vesting Date
of Awards
Granted in
Prior Year and
Vested in
Covered Year
(f)
Total
Compensation
Actually Paid
PEO
2022 22,363,007 (7,800,250) (14,301,548) 7,718,670 (438,347) 7,541,531
2021 21,575,769 (3,954,951) (3,521,474) 4,994,344 25,523,112 3,802,006 48,418,806
2020 47,123,063 (8,343,047) (24,981,192) 17,748,123 (8,070,339) 18,123,375 (1,525,310) 40,074,674
Non-PEO NEOs
2022 1,935,773 (395,466) 396,740 (236,242) (255,447) 1,445,358
2021 1,773,064 (388,774) 467,020 919,194 36,385 2,806,889
2020 2,738,499 (418,577) (791,685) 1,111,192 (219,227) 111,625 (333,708) 2,198,120
(a)
Reflects, for Mr. Maffei, the applicable amounts reported in the Summary Compensation Table and for the non-PEO NEOs, the average of the applicable amounts reported in the Summary Compensation Table in each of the fiscal years indicated.
(b)
The adjustments made to the fair value of equity awards in accordance with Item 402(v) of Regulation S-K do not include adjustments for dividends paid or the fair value of equity awards received in lieu of cash compensation foregone at a named executive officer’s election where such amounts are reported in the Salary, Bonus or All Other Compensation columns of the Summary Compensation Table in accordance with SEC guidance.
(c)
Reflects, with respect to Mr. Maffei, the fair value and, with respect to the non-PEO NEOs, the average of the fair values, as of the end of the covered fiscal year of awards granted in, and remaining outstanding and unvested (in whole or in part) as of the end of, the covered fiscal year.
(d)
Reflects, with respect to Mr. Maffei, the change in fair value, and with respect to the non-PEO NEOs, the average of the change in fair values, from the end of the prior fiscal year to the end of the covered fiscal year of awards granted in prior fiscal years that remained outstanding and unvested (in whole or in part) as of the end of the covered fiscal year.
(e)
Reflects, with respect to Mr. Maffei, the fair value, and with respect to the non-PEO NEOs, the average of the fair values, as of the day awards became vested in the covered fiscal year, when such awards were also granted in the covered fiscal year.
(f)
Reflects, with respect to Mr. Maffei, the change in fair value, and with respect to the non-PEO NEOs, the average of the change in fair values, from the end of the prior fiscal year to the day awards became vested in the covered fiscal year, when such awards were granted in a prior fiscal year.
   
Non-PEO NEO Average Total Compensation Amount $ 1,935,773 1,773,064 2,738,499
Non-PEO NEO Average Compensation Actually Paid Amount $ 1,445,358 2,806,889 2,198,120
Adjustment to Non-PEO NEO Compensation Footnote [Text Block]
(3)
Represents the compensation actually paid to Mr. Maffei and the non-PEO NEOs in each of the fiscal years indicated as computed in accordance with Item 402(v) of Regulation S-K, as set forth below:
Compensation actually paid to PEO and Non-PEO NEOs
As Reported in Summary
Compensation Table
(a)
Equity Award Adjustments(b)
Year
Total
Stock
Awards
Option
Awards
Fair Value at
Year End of
Awards
Granted
During Year
that Remain
Outstanding
and
Unvested at
Year End
(c)
Year-over-
Year Change
in Fair Value
of Awards
Granted in
Prior Year
that Remain
Outstanding
and Unvested
at Year End
(d)
Fair Value at
Vesting
Date of
Awards
Granted and
Vested in
Same Year
(e)
Change in
Fair Value
from Prior
Year End to
Vesting Date
of Awards
Granted in
Prior Year and
Vested in
Covered Year
(f)
Total
Compensation
Actually Paid
PEO
2022 22,363,007 (7,800,250) (14,301,548) 7,718,670 (438,347) 7,541,531
2021 21,575,769 (3,954,951) (3,521,474) 4,994,344 25,523,112 3,802,006 48,418,806
2020 47,123,063 (8,343,047) (24,981,192) 17,748,123 (8,070,339) 18,123,375 (1,525,310) 40,074,674
Non-PEO NEOs
2022 1,935,773 (395,466) 396,740 (236,242) (255,447) 1,445,358
2021 1,773,064 (388,774) 467,020 919,194 36,385 2,806,889
2020 2,738,499 (418,577) (791,685) 1,111,192 (219,227) 111,625 (333,708) 2,198,120
(a)
Reflects, for Mr. Maffei, the applicable amounts reported in the Summary Compensation Table and for the non-PEO NEOs, the average of the applicable amounts reported in the Summary Compensation Table in each of the fiscal years indicated.
(b)
The adjustments made to the fair value of equity awards in accordance with Item 402(v) of Regulation S-K do not include adjustments for dividends paid or the fair value of equity awards received in lieu of cash compensation foregone at a named executive officer’s election where such amounts are reported in the Salary, Bonus or All Other Compensation columns of the Summary Compensation Table in accordance with SEC guidance.
(c)
Reflects, with respect to Mr. Maffei, the fair value and, with respect to the non-PEO NEOs, the average of the fair values, as of the end of the covered fiscal year of awards granted in, and remaining outstanding and unvested (in whole or in part) as of the end of, the covered fiscal year.
(d)
Reflects, with respect to Mr. Maffei, the change in fair value, and with respect to the non-PEO NEOs, the average of the change in fair values, from the end of the prior fiscal year to the end of the covered fiscal year of awards granted in prior fiscal years that remained outstanding and unvested (in whole or in part) as of the end of the covered fiscal year.
(e)
Reflects, with respect to Mr. Maffei, the fair value, and with respect to the non-PEO NEOs, the average of the fair values, as of the day awards became vested in the covered fiscal year, when such awards were also granted in the covered fiscal year.
(f)
Reflects, with respect to Mr. Maffei, the change in fair value, and with respect to the non-PEO NEOs, the average of the change in fair values, from the end of the prior fiscal year to the day awards became vested in the covered fiscal year, when such awards were granted in a prior fiscal year.
   
Compensation Actually Paid vs. Total Shareholder Return [Text Block]
Relationship Between Compensation Actually Paid and Cumulative Total Shareholder Return
[MISSING IMAGE: bc_totalsharepeo-pn.jpg]
[MISSING IMAGE: bc_totalshareneo-pn.jpg]
   
Compensation Actually Paid vs. Net Income [Text Block]
Relationship Between Compensation Actually Paid and Net Income
[MISSING IMAGE: bc_netincpeo-pn.jpg]
[MISSING IMAGE: bc_netincneo-pn.jpg]
   
Compensation Actually Paid vs. Company Selected Measure [Text Block]
Relationship Between Compensation Actually Paid and Adjusted OIBDA
[MISSING IMAGE: bc_oibdapeo-pn.jpg]
[MISSING IMAGE: bc_oibdaneo-pn.jpg]
   
Tabular List [Table Text Block]
2022 Key Performance Measures
The table below contains an unranked list of the most important financial performance measures we use to link executive compensation actually paid to performance.
Key Financial Performance Measures
Revenue
Adjusted OIBDA
Free Cash Flow
   
Peer Group Total Shareholder Return Amount $ 81 115.71 115.31
Net Income (Loss) $ 2,029,000,000 $ 744,000,000 $ (1,391,000,000)
Company Selected Measure Amount 3,941 3,481 2,247
PEO Name Mr. Maffei    
Total Shareholder Return Amount LSXMA $ 81.32 $ 105.19 $ 89.35
Total Shareholder Return Amount LSXMB 80.21 105.2 88.97
Total Shareholder Return Amount LSXMK 81.28 105.63 90.38
Total Shareholder Return Amount FWONA 122.04 135.54 86.77
Total Shareholder Return Amount FWONK 130.06 137.58 92.68
Total Shareholder Return Amount BATRA 110.19 96.96 83.88
Total Shareholder Return Amount BATRK $ 109.11 95.13 84.22
Measure [Axis]: 1      
Pay vs Performance Disclosure [Table]      
Measure Name Revenue    
Non-GAAP Measure Description [Text Block]
(7)
We define Adjusted OIBDA as operating income (loss) plus depreciation and amortization, stock-based compensation, separately reported litigation settlements, transaction related costs (including acquisition, restructuring, integration, and advisory fees), and impairment charges. For purposes of this disclosure, Adjusted OIBDA includes our attributable interests in our equity investments.
   
Measure [Axis]: 2      
Pay vs Performance Disclosure [Table]      
Measure Name Adjusted OIBDA    
Measure [Axis]: 3      
Pay vs Performance Disclosure [Table]      
Measure Name Free Cash Flow    
PEO [Member] | Option Awards [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount $ (7,800,250) (3,521,474) (24,981,192)
PEO [Member] | Year-Over-Year Change in Fair Value of Awards Granted in Prior Year That Remain Outstanding and Unvested at Year End [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount (14,301,548) 25,523,112 (8,070,339)
PEO [Member] | Fair Value at Vesting Date of Awards Granted and Vested in Same Year [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 7,718,670 3,802,006 18,123,375
PEO [Member] | Change In Fair Value from Prior Year End to Vesting Date of Awards Granted in Prior Year And Vested In Covered Year [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount (438,347)   (1,525,310)
PEO [Member] | Stock Awards [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount   (3,954,951) (8,343,047)
PEO [Member] | Fair Value at Year End of Awards Granted During Year That Remain Outstanding and Unvested at Year End [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount   4,994,344 17,748,123
Non-PEO NEO [Member] | Option Awards [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount     (791,685)
Non-PEO NEO [Member] | Year-Over-Year Change in Fair Value of Awards Granted in Prior Year That Remain Outstanding and Unvested at Year End [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount (236,242) 919,194 (219,227)
Non-PEO NEO [Member] | Fair Value at Vesting Date of Awards Granted and Vested in Same Year [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount     111,625
Non-PEO NEO [Member] | Change In Fair Value from Prior Year End to Vesting Date of Awards Granted in Prior Year And Vested In Covered Year [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount (255,447) 36,385 (333,708)
Non-PEO NEO [Member] | Stock Awards [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount (395,466) (388,774) (418,577)
Non-PEO NEO [Member] | Fair Value at Year End of Awards Granted During Year That Remain Outstanding and Unvested at Year End [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount $ 396,740 $ 467,020 $ 1,111,192