Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations

v3.24.0.1
Consolidated Statements of Operations - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Revenue:      
Total revenue $ 12,525 $ 12,164 $ 11,400
Operating costs and expenses, including stock-based compensation:      
Subscriber acquisition costs 359 352 325
Other operating expense 596 719 642
Selling, general and administrative 1,930 2,031 1,907
Depreciation and amortization 1,030 1,044 1,072
Impairment, restructuring and acquisition costs, net of recoveries 67 74 20
Litigation settlements, net of recoveries 31    
Total operating costs and expenses 10,462 10,100 9,423
Operating income (loss) 2,063 2,064 1,977
Other income (expense):      
Interest expense (782) (689) (642)
Share of earnings (losses) of affiliates, net 138 99 (200)
Realized and unrealized gains (losses) on financial instruments, net (323) 599 (451)
Gains (losses) on dilution of investment in affiliate (4) 10 152
Other, net 93 110 (47)
Total other income (expense) (878) 129 (1,188)
Earnings (loss) before income taxes 1,185 2,193 789
Income tax (expense) benefit (223) (164) (45)
Net earnings (loss) 962 2,029 744
Less net earnings (loss) attributable to the noncontrolling interests 201 227 292
Less net earnings (loss) attributable to redeemable noncontrolling interest   (13) 54
Net earnings (loss) attributable to Liberty stockholders 761 1,815 398
Liberty SiriusXM Group      
Other income (expense):      
Net earnings (loss) attributable to Liberty stockholders $ 829 $ 1,292 $ 599
Basic net earnings (loss) attributable to Liberty stockholders per common share:      
Series A, B and C common stock, basic earnings loss per share $ 2.54 $ 3.94 $ 1.79
Diluted net earnings (loss) attributable to Liberty stockholders per common share:      
Series A, B and C common stock, diluted earnings loss per share $ 2.42 $ 3.66 $ 1.78
Formula One Group      
Other income (expense):      
Net earnings (loss) attributable to Liberty stockholders $ 185 $ 558 $ (190)
Basic net earnings (loss) attributable to Liberty stockholders per common share:      
Series A, B and C common stock, basic earnings loss per share $ 0.79 $ 2.39 $ (0.82)
Diluted net earnings (loss) attributable to Liberty stockholders per common share:      
Series A, B and C common stock, diluted earnings loss per share $ 0.62 $ 2.15 $ (0.82)
Liberty Live Group      
Other income (expense):      
Net earnings (loss) attributable to Liberty stockholders $ (142)    
Basic net earnings (loss) attributable to Liberty stockholders per common share:      
Series A, B and C common stock, basic earnings loss per share $ (1.54)    
Diluted net earnings (loss) attributable to Liberty stockholders per common share:      
Series A, B and C common stock, diluted earnings loss per share $ (1.54)    
Braves Group      
Other income (expense):      
Net earnings (loss) attributable to Liberty stockholders $ (111) $ (35) $ (11)
Basic net earnings (loss) attributable to Liberty stockholders per common share:      
Series A, B and C common stock, basic earnings loss per share $ (2.09) $ (0.66) $ (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 $ (2.09) $ (0.66) $ (0.21)
Sirius XM Holdings Revenue      
Revenue:      
Total revenue $ 8,953 $ 9,003 $ 8,696
Revenue share and royalties      
Operating costs and expenses, including stock-based compensation:      
Cost of services 2,895 2,802 2,672
Programming and content      
Operating costs and expenses, including stock-based compensation:      
Cost of services 618 604 559
Customer service and billing      
Operating costs and expenses, including stock-based compensation:      
Cost of services 476 497 501
Other cost of subscriber services      
Operating costs and expenses, including stock-based compensation:      
Cost of services 220 227 236
Formula 1      
Revenue:      
Total revenue 3,222 2,573 2,136
Operating costs and expenses, including stock-based compensation:      
Cost of services 2,240 1,750 1,489
Other      
Revenue:      
Total revenue $ 350 $ 588 $ 568