| Schedule of debt instruments |
|
|
|
|
|
|
|
|
|
|
|
|
Outstanding |
|
Carrying value |
|
|
|
Principal |
|
December 31, |
|
December 31, |
|
|
|
December 31, 2023 |
|
2023 |
|
2022 |
|
|
|
|
amounts in millions |
|
Liberty SiriusXM Group |
|
|
|
|
|
|
|
|
|
Corporate level notes and loans: |
|
|
|
|
|
|
|
|
|
1.375% Cash Convertible Senior Notes due 2023 (1) |
|
$ |
— |
|
|
— |
|
968 |
|
3.75% Convertible Senior Notes due 2028 (1) |
|
|
575 |
|
|
688 |
|
— |
|
2.125% Exchangeable Senior Debentures due 2048 (1) |
|
|
— |
|
|
— |
|
382 |
|
2.75% Exchangeable Senior Debentures due 2049 (1) |
|
|
586 |
|
|
574 |
|
559 |
|
0.5% Exchangeable Senior Debentures due 2050 (1) |
|
|
— |
|
|
— |
|
920 |
|
Sirius XM Holdings Margin Loan |
|
|
695 |
|
|
695 |
|
875 |
|
Live Nation Margin Loan |
|
|
NA |
|
|
NA |
|
— |
|
Subsidiary notes and loans: |
|
|
|
|
|
|
|
|
|
Sirius XM 3.125% Senior Notes due 2026 |
|
|
1,000 |
|
|
994 |
|
992 |
|
Sirius XM 5.0% Senior Notes due 2027 |
|
|
1,500 |
|
|
1,494 |
|
1,492 |
|
Sirius XM 4.0% Senior Notes due 2028 |
|
|
2,000 |
|
|
1,985 |
|
1,982 |
|
Sirius XM 5.50% Senior Notes due 2029 |
|
|
1,250 |
|
|
1,241 |
|
1,240 |
|
Sirius XM 4.125% Senior Notes due 2030 |
|
|
1,500 |
|
|
1,488 |
|
1,487 |
|
Sirius XM 3.875% Senior Notes due 2031 |
|
|
1,500 |
|
|
1,487 |
|
1,485 |
|
Pandora 1.75% Convertible Senior Notes due 2023 |
|
|
— |
|
|
— |
|
193 |
|
Sirius XM Senior Secured Revolving Credit Facility |
|
|
— |
|
|
— |
|
80 |
|
Sirius XM Incremental Term Loan |
|
|
500 |
|
|
500 |
|
500 |
|
Deferred financing costs |
|
|
|
|
|
(9) |
|
(12) |
|
Total Liberty SiriusXM Group |
|
|
11,106 |
|
|
11,137 |
|
13,143 |
|
Formula One Group |
|
|
|
|
|
|
|
|
|
Corporate level notes and loans: |
|
|
|
|
|
|
|
|
|
1% Cash Convertible Notes due 2023 (1) |
|
|
— |
|
|
— |
|
44 |
|
2.25% Convertible Senior Notes due 2027 (1) |
|
|
475 |
|
|
480 |
|
458 |
|
Other |
|
|
58 |
|
|
58 |
|
63 |
|
Subsidiary notes and loans: |
|
|
|
|
|
|
|
|
|
Senior Loan Facility |
|
|
2,407 |
|
|
2,377 |
|
2,389 |
|
Deferred financing costs |
|
|
|
|
|
(9) |
|
(7) |
|
Total Formula One Group |
|
|
2,940 |
|
|
2,906 |
|
2,947 |
|
Liberty Live Group |
|
|
|
|
|
|
|
|
|
Corporate level notes and loans: |
|
|
|
|
|
|
|
|
|
0.5% Exchangeable Senior Debentures due 2050 (1) |
|
|
62 |
|
|
69 |
|
NA |
|
2.375% Exchangeable Senior Debentures due 2053 (1) |
|
|
1,150 |
|
|
1,248 |
|
NA |
|
Live Nation Margin Loan |
|
|
— |
|
|
— |
|
NA |
|
Total Liberty Live Group |
|
|
1,212 |
|
|
1,317 |
|
NA |
|
Braves Group (2) |
|
|
|
|
|
|
|
|
|
Subsidiary notes and loans: |
|
|
|
|
|
|
|
|
|
Notes and loans |
|
|
— |
|
|
— |
|
546 |
|
Deferred financing costs |
|
|
|
|
|
— |
|
(4) |
|
Total Braves Group |
|
|
— |
|
|
— |
|
542 |
|
Total debt |
|
$ |
15,258 |
|
|
15,360 |
|
16,632 |
|
Debt classified as current |
|
|
|
|
|
(1,180) |
|
(1,679) |
|
Total long-term debt |
|
|
|
|
$ |
14,180 |
|
14,953 |
|
|
(1) |
Measured at fair value |
|
(2) |
Debt attributed to the Braves Group was included in Split-Off of ABH, as described in note 2. |
|
| Schedule of fair Value of debt |
The fair values, based on quoted market prices of the same instruments but not considered to be active markets (Level 2), of Sirius XM Holdings’ publicly traded debt securities, not reported at fair value, are as follows (amounts in millions):
|
|
|
|
|
|
|
December 31, 2023 |
|
Sirius XM 3.125% Senior Notes due 2026 |
|
$ |
932 |
|
Sirius XM 5.0% Senior Notes due 2027 |
|
$ |
1,444 |
|
Sirius XM 4.0% Senior Notes due 2028 |
|
$ |
1,827 |
|
Sirius XM 5.50% Senior Notes due 2029 |
|
$ |
1,202 |
|
Sirius XM 4.125% Senior Notes due 2030 |
|
$ |
1,326 |
|
Sirius XM 3.875% Senior Notes due 2031 |
|
$ |
1,277 |
|
|