Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations

v3.23.3
Condensed Consolidated Statements of Operations - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenue:        
Total revenue $ 3,207 $ 3,247 $ 9,007 $ 9,074
Operating costs and expenses, including stock-based compensation:        
Subscriber acquisition costs 87 86 270 267
Other operating expense 110 253 508 590
Selling, general and administrative 469 525 1,445 1,527
Impairment, restructuring and acquisition costs, net of recoveries 6 74 57 75
Depreciation and amortization 234 268 751 790
Total operating costs and expenses 2,578 2,741 7,515 7,549
Operating income (loss) 629 506 1,492 1,525
Other income (expense):        
Interest expense (196) (179) (592) (497)
Share of earnings (losses) of affiliates, net 138 111 218 158
Realized and unrealized gains (losses) on financial instruments, net 11 106 (131) 545
Other, net (14) 20 50 87
Total other income (expense) (61) 58 (455) 293
Earnings (loss) before income taxes 568 564 1,037 1,818
Income tax (expense) benefit (125) (130) (239) (414)
Net earnings (loss) 443 434 798 1,404
Less net earnings (loss) attributable to the noncontrolling interests 58 46 145 164
Less net earnings (loss) attributable to redeemable noncontrolling interest   (3)   (13)
Net earnings (loss) attributable to Liberty stockholders 385 391 653 1,253
Liberty SiriusXM Group        
Other income (expense):        
Net earnings (loss) attributable to Liberty stockholders $ 307 $ 305 $ 656 $ 1,040
Basic net earnings (loss) attributable to Liberty stockholders per common share:        
Series A, B and C common stock, basic earnings loss per share $ 0.94 $ 0.93 $ 2.01 $ 3.16
Diluted net earnings (loss) attributable to Liberty stockholders per common share:        
Series A, B and C common stock, diluted earnings loss per share $ 0.89 $ 0.82 $ 1.89 $ 2.89
Formula One Group        
Other income (expense):        
Net earnings (loss) attributable to Liberty stockholders $ 118 $ 108 $ 125 $ 184
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 $ 0.46 $ 0.53 $ 0.79
Diluted net earnings (loss) attributable to Liberty stockholders per common share:        
Series A, B and C common stock, diluted earnings loss per share $ 0.39 $ 0.31 $ 0.37 $ 0.60
Liberty Live Group        
Other income (expense):        
Net earnings (loss) attributable to Liberty stockholders $ (19)   $ (19)  
Basic net earnings (loss) attributable to Liberty stockholders per common share:        
Series A, B and C common stock, basic earnings loss per share $ (0.21)   $ (0.21)  
Diluted net earnings (loss) attributable to Liberty stockholders per common share:        
Series A, B and C common stock, diluted earnings loss per share $ (0.21)   $ (0.21)  
Braves Group        
Other income (expense):        
Net earnings (loss) attributable to Liberty stockholders $ (21) $ (22) $ (109) $ 29
Basic net earnings (loss) attributable to Liberty stockholders per common share:        
Series A, B and C common stock, basic earnings loss per share $ (0.40) $ (0.42) $ (2.06) $ 0.55
Diluted net earnings (loss) attributable to Liberty stockholders per common share:        
Series A, B and C common stock, diluted earnings loss per share $ (0.40) $ (0.42) $ (2.06) $ 0.39
Sirius XM Holdings Revenue        
Revenue:        
Total revenue $ 2,271 $ 2,280 $ 6,665 $ 6,720
Revenue share and royalties        
Operating costs and expenses, including stock-based compensation:        
Cost of services 730 709 2,162 2,090
Programming and content        
Operating costs and expenses, including stock-based compensation:        
Cost of services 153 156 456 448
Customer service and billing        
Operating costs and expenses, including stock-based compensation:        
Cost of services 117 122 363 373
Other cost of subscriber services        
Operating costs and expenses, including stock-based compensation:        
Cost of services 57 54 163 166
Formula 1        
Revenue:        
Total revenue 887 715 1,992 1,819
Operating costs and expenses, including stock-based compensation:        
Cost of services 615 494 1,340 1,223
Other        
Revenue:        
Total revenue $ 49 $ 252 $ 350 $ 535