Quarterly report pursuant to Section 13 or 15(d)

Information About Liberty's Operating Segments (Tables)

v3.23.1
Information About Liberty's Operating Segments (Tables)
3 Months Ended
Mar. 31, 2023
Information About Liberty's Operating Segments  
Schedule of revenue disaggregated by source

Three months ended

March 31,

    

2023

    

2022

 

amounts in millions

Liberty SiriusXM Group

 

Sirius XM Holdings:

Subscriber

$

1,691

1,713

Advertising

 

375

383

Equipment

46

53

Other

32

37

Total Liberty SiriusXM Group

2,144

2,186

Braves Group

 

 

Corporate and other:

 

 

Baseball

 

18

 

11

Mixed-Use Development

 

13

 

12

Total Braves Group

31

23

Formula One Group

Formula 1:

Primary

314

287

Other

67

73

Total Formula One Group

381

360

Consolidated Liberty

$

2,556

2,569

Adjusted OIBDA by segment

Three months ended

March 31,

    

2023

    

2022

 

amounts in millions

Liberty SiriusXM Group

Sirius XM Holdings

$

625

 

690

Corporate and other

 

(11)

 

(5)

Total Liberty SiriusXM Group

 

614

 

685

Braves Group

Corporate and other

 

(31)

 

(19)

Total Braves Group

 

(31)

 

(19)

Formula One Group

 

Formula 1

 

117

 

122

Corporate and other

(12)

(10)

Total Formula One Group

105

112

Consolidated Liberty

$

688

 

778

Other Information By Segment

March 31, 2023

    

Total

    

Investments

    

Capital

 

assets

in affiliates

expenditures

amounts in millions

Liberty SiriusXM Group

Sirius XM Holdings

$

29,501

 

696

 

205

Corporate and other

702

166

Total Liberty SiriusXM Group

30,203

862

205

Braves Group

Corporate and other

1,518

94

14

Total Braves Group

1,518

94

14

Formula One Group

Formula 1

9,210

9

Corporate and other

 

1,768

 

37

 

53

Total Formula One Group

10,978

37

62

Elimination (1)

(366)

Consolidated Liberty

$

42,333

 

993

 

281

(1) This amount is primarily comprised of the intergroup interests in the Braves Group held by the Formula One Group and the Liberty SiriusXM Group and the intergroup interest in the Formula One Group held by the Liberty SiriusXM Group. See note 2 for information regarding the intergroup interests. The Braves Group intergroup interests attributable to the Formula One Group and the Liberty SiriusXM Group are presented as assets of the Formula One Group and Liberty SiriusXM Group, respectively, and are presented as liabilities of the Braves Group in the attributed financial statements. The Formula One Group intergroup interest attributable to the Liberty SiriusXM Group is presented as an asset of the Liberty SiriusXM Group and is presented as a liability of the Formula One Group in the attributed financial statements. The offsetting amounts between tracking stock groups are eliminated in consolidation.
Reconciliation of Adjusted OIBDA to operating income (loss) and earnings (loss)

Three months ended

March 31,

    

2023

    

2022

 

amounts in millions

Adjusted OIBDA

$

688

 

778

Impairment, restructuring and acquisition costs, net of recoveries (note 8)

(32)

Stock-based compensation

 

(56)

 

(55)

Depreciation and amortization

 

(260)

 

(260)

Operating income (loss)

340

463

Interest expense

 

(196)

 

(157)

Share of earnings (losses) of affiliates, net

 

(10)

 

(14)

Realized and unrealized gains (losses) on financial instruments, net

 

(46)

 

59

Other, net

 

14

 

45

Earnings (loss) before income taxes

$

102

 

396