Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations

v3.23.2
Condensed Consolidated Statements of Operations - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Revenue:        
Total revenue $ 3,244 $ 3,258 $ 5,800 $ 5,827
Operating costs and expenses, including stock-based compensation:        
Subscriber acquisition costs 93 91 183 181
Other operating expense 280 247 398 337
Selling, general and administrative 490 520 976 1,002
Impairment, restructuring and acquisition costs, net of recoveries 19 1 51 1
Depreciation and amortization 257 262 517 522
Total operating costs and expenses 2,721 2,702 4,937 4,808
Operating income (loss) 523 556 863 1,019
Other income (expense):        
Interest expense (200) (161) (396) (318)
Share of earnings (losses) of affiliates, net 90 61 80 47
Realized and unrealized gains (losses) on financial instruments, net (96) 380 (142) 439
Other, net 50 22 64 67
Total other income (expense) (156) 302 (394) 235
Earnings (loss) before income taxes 367 858 469 1,254
Income tax (expense) benefit (64) (184) (114) (284)
Net earnings (loss) 303 674 355 970
Less net earnings (loss) attributable to the noncontrolling interests 50 53 87 118
Less net earnings (loss) attributable to redeemable noncontrolling interest   (1)   (10)
Net earnings (loss) attributable to Liberty stockholders 253 622 268 862
Liberty SiriusXM Group        
Other income (expense):        
Net earnings (loss) attributable to Liberty stockholders $ 166 $ 447 $ 349 $ 735
Basic net earnings (loss) attributable to Liberty stockholders per common share:        
Series A, B and C common stock, basic earnings loss per share $ 0.51 $ 1.36 $ 1.07 $ 2.23
Diluted net earnings (loss) attributable to Liberty stockholders per common share:        
Series A, B and C common stock, diluted earnings loss per share $ 0.49 $ 1.24 $ 1.00 $ 2.06
Braves Group        
Other income (expense):        
Net earnings (loss) attributable to Liberty stockholders $ (29) $ 64 $ (88) $ 51
Basic net earnings (loss) attributable to Liberty stockholders per common share:        
Series A, B and C common stock, basic earnings loss per share $ (0.55) $ 1.21 $ (1.66) $ 0.96
Diluted net earnings (loss) attributable to Liberty stockholders per common share:        
Series A, B and C common stock, diluted earnings loss per share $ (0.55) $ 0.47 $ (1.66) $ 0.24
Formula One Group        
Other income (expense):        
Net earnings (loss) attributable to Liberty stockholders $ 116 $ 111 $ 7 $ 76
Basic net earnings (loss) attributable to Liberty stockholders per common share:        
Series A, B and C common stock, basic earnings loss per share $ 0.50 $ 0.48 $ 0.03 $ 0.33
Diluted net earnings (loss) attributable to Liberty stockholders per common share:        
Series A, B and C common stock, diluted earnings loss per share $ 0.41 $ 0.35 $ (0.03) $ 0.29
Sirius XM Holdings Revenue        
Revenue:        
Total revenue $ 2,250 $ 2,254 $ 4,394 $ 4,440
Revenue Share And Royalties        
Operating costs and expenses, including stock-based compensation:        
Cost of services 732 711 1,432 1,381
Programming and content        
Operating costs and expenses, including stock-based compensation:        
Cost of services 153 152 303 292
Customer service and billing        
Operating costs and expenses, including stock-based compensation:        
Cost of services 124 126 246 251
Other cost of subscriber services        
Operating costs and expenses, including stock-based compensation:        
Cost of services 54 58 106 112
Formula 1        
Revenue:        
Total revenue 724 744 1,105 1,104
Operating costs and expenses, including stock-based compensation:        
Cost of services 519 534 725 729
Other        
Revenue:        
Total revenue $ 270 $ 260 $ 301 $ 283