Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Operations

v3.24.1.u1
Consolidated Statements of Operations - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Revenue:    
Total revenue $ 2,749 $ 2,556
Operating costs and expenses, including stock-based compensation:    
Subscriber acquisition costs 90 90
Other operating expense 87 118
Selling, general and administrative 465 486
Impairment, restructuring and acquisition costs 22 32
Depreciation and amortization 241 260
Total operating costs and expenses 2,247 2,216
Operating income (loss) 502 340
Other income (expense):    
Interest expense (191) (196)
Share of earnings (losses) of affiliates, net (19) (10)
Realized and unrealized gains (losses) on financial instruments, net (3) (46)
Other, net 27 14
Total other income (expense) (186) (238)
Earnings (loss) before income taxes 316 102
Income tax (expense) benefit (71) (50)
Net earnings (loss) 245 52
Less net earnings (loss) attributable to the noncontrolling interests 42 37
Net earnings (loss) attributable to Liberty stockholders 203 15
Liberty SiriusXM Group    
Other income (expense):    
Net earnings (loss) attributable to Liberty stockholders $ 199 $ 183
Basic net earnings (loss) attributable to Liberty stockholders per common share:    
Series A, B and C common stock, basic earnings loss per share $ 0.61 $ 0.56
Diluted net earnings (loss) attributable to Liberty stockholders per common share:    
Series A, B and C common stock, diluted earnings loss per share $ 0.52 $ 0.38
Formula One Group    
Other income (expense):    
Net earnings (loss) attributable to Liberty stockholders $ 77 $ (109)
Basic net earnings (loss) attributable to Liberty stockholders per common share:    
Series A, B and C common stock, basic earnings loss per share $ 0.33 $ (0.47)
Diluted net earnings (loss) attributable to Liberty stockholders per common share:    
Series A, B and C common stock, diluted earnings loss per share $ 0.32 $ (0.58)
Liberty Live Group    
Other income (expense):    
Net earnings (loss) attributable to Liberty stockholders $ (73)  
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)  
Diluted net earnings (loss) attributable to Liberty stockholders per common share:    
Series A, B and C common stock, diluted earnings loss per share $ (0.79)  
Braves Group    
Other income (expense):    
Net earnings (loss) attributable to Liberty stockholders   $ (59)
Basic net earnings (loss) attributable to Liberty stockholders per common share:    
Series A, B and C common stock, basic earnings loss per share   $ (1.11)
Diluted net earnings (loss) attributable to Liberty stockholders per common share:    
Series A, B and C common stock, diluted earnings loss per share   $ (1.22)
Sirius XM Holdings Revenue    
Revenue:    
Total revenue $ 2,162 $ 2,144
Revenue share and royalties    
Operating costs and expenses, including stock-based compensation:    
Cost of services 703 700
Programming and content    
Operating costs and expenses, including stock-based compensation:    
Cost of services 157 150
Customer service and billing    
Operating costs and expenses, including stock-based compensation:    
Cost of services 116 122
Other cost of subscriber services    
Operating costs and expenses, including stock-based compensation:    
Cost of services 61 52
Formula 1    
Revenue:    
Total revenue 550 381
Operating costs and expenses, including stock-based compensation:    
Cost of services 279 206
Other    
Revenue:    
Total revenue 37 $ 31
Operating costs and expenses, including stock-based compensation:    
Cost of services $ 26