Information About Liberty's Operating Segments (Tables)
|
6 Months Ended |
Jun. 30, 2024 |
|---|
| Information About Liberty's Operating Segments |
|
| Schedule of revenue disaggregated by source |
|
|
|
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|
|
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|
|
Three months ended |
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Six months ended |
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June 30, |
|
June 30, |
|
|
|
2024 |
|
2023 |
|
2024 |
|
2023 |
|
|
|
|
amounts in millions |
|
Liberty SiriusXM Group |
|
|
|
|
|
|
|
|
|
|
Sirius XM Holdings: |
|
|
|
|
|
|
|
|
|
|
Subscriber |
|
$ |
1,658 |
|
1,726 |
|
3,338 |
|
3,417 |
|
Advertising |
|
|
443 |
|
444 |
|
845 |
|
819 |
|
Equipment |
|
|
47 |
|
47 |
|
97 |
|
93 |
|
Other |
|
|
30 |
|
33 |
|
60 |
|
65 |
|
Total Liberty SiriusXM Group |
|
|
2,178 |
|
2,250 |
|
4,340 |
|
4,394 |
|
Formula One Group |
|
|
|
|
|
|
|
|
|
|
Formula 1: |
|
|
|
|
|
|
|
|
|
|
Primary |
|
|
739 |
|
618 |
|
1,202 |
|
932 |
|
Other |
|
|
132 |
|
106 |
|
222 |
|
173 |
|
Corporate and other |
|
|
141 |
|
— |
|
185 |
|
— |
|
Intergroup elimination |
|
|
(24) |
|
— |
|
(34) |
|
— |
|
Total Formula One Group |
|
|
988 |
|
724 |
|
1,575 |
|
1,105 |
|
Braves Group |
|
|
|
|
|
|
|
|
|
|
Corporate and other: |
|
|
|
|
|
|
|
|
|
|
Baseball |
|
|
NA |
|
254 |
|
NA |
|
272 |
|
Mixed-Use Development |
|
|
NA |
|
16 |
|
NA |
|
29 |
|
Total Braves Group |
|
|
NA |
|
270 |
|
NA |
|
301 |
|
Consolidated Liberty |
|
$ |
3,166 |
|
3,244 |
|
5,915 |
|
5,800 |
|
|
| Performance Measures |
|
|
|
|
|
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|
|
|
|
|
|
|
Three months ended |
|
Six months ended |
|
|
|
June 30, |
|
June 30, |
|
|
|
2024 |
|
2023 |
|
2024 |
|
2023 |
|
|
|
|
amounts in millions |
|
Liberty SiriusXM Group |
|
|
|
|
|
|
|
|
|
|
Sirius XM Holdings |
|
$ |
688 |
|
702 |
|
1,323 |
|
1,327 |
|
Live Nation |
|
|
NA |
|
589 |
|
NA |
|
909 |
|
Corporate and other |
|
|
(9) |
|
(8) |
|
(19) |
|
(19) |
|
Eliminate equity method affiliate |
|
|
NA |
|
(589) |
|
NA |
|
(909) |
|
Total Liberty SiriusXM Group |
|
|
679 |
|
694 |
|
1,304 |
|
1,308 |
|
Formula One Group |
|
|
|
|
|
|
|
|
|
|
Formula 1 |
|
|
160 |
|
155 |
|
368 |
|
272 |
|
Corporate and other |
|
|
5 |
|
(14) |
|
(1) |
|
(26) |
|
Total Formula One Group |
|
|
165 |
|
141 |
|
367 |
|
246 |
|
Liberty Live Group |
|
|
|
|
|
|
|
|
|
|
Live Nation |
|
|
717 |
|
NA |
|
1,084 |
|
NA |
|
Corporate and other |
|
|
(1) |
|
NA |
|
(2) |
|
NA |
|
Eliminate equity method affiliate |
|
|
(717) |
|
NA |
|
(1,084) |
|
NA |
|
Total Liberty Live Group |
|
|
(1) |
|
NA |
|
(2) |
|
NA |
|
Braves Group |
|
|
|
|
|
|
|
|
|
|
Corporate and other |
|
|
NA |
|
42 |
|
NA |
|
11 |
|
Total Braves Group |
|
|
NA |
|
42 |
|
NA |
|
11 |
|
Consolidated Liberty |
|
$ |
843 |
|
877 |
|
1,669 |
|
1,565 |
|
|
| Other Information By Segment |
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|
June 30, 2024 |
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|
|
Total |
|
Investments |
|
Capital |
|
|
|
assets |
|
in affiliates |
|
expenditures |
|
|
|
|
amounts in millions |
|
Liberty SiriusXM Group |
|
|
|
|
|
|
|
|
Sirius XM Holdings |
|
$ |
30,725 |
|
1,601 |
|
347 |
|
Corporate and other |
|
|
96 |
|
— |
|
— |
|
Total Liberty SiriusXM Group |
|
|
30,821 |
|
1,601 |
|
347 |
|
Formula One Group |
|
|
|
|
|
|
|
|
Formula 1 |
|
|
9,285 |
|
2 |
|
38 |
|
Corporate and other |
|
|
1,667 |
|
35 |
|
2 |
|
Intergroup elimination |
|
|
(142) |
|
— |
|
— |
|
Total Formula One Group |
|
|
10,810 |
|
37 |
|
40 |
|
Liberty Live Group |
|
|
|
|
|
|
|
|
Live Nation |
|
|
20,454 |
|
548 |
|
339 |
|
Corporate and other |
|
|
1,000 |
|
345 |
|
— |
|
Eliminate equity method affiliate |
|
|
(20,454) |
|
(548) |
|
(339) |
|
Total Liberty Live Group |
|
|
1,000 |
|
345 |
|
— |
|
Elimination |
|
|
1 |
|
— |
|
— |
|
Consolidated Liberty |
|
$ |
42,632 |
|
1,983 |
|
387 |
|
|
| Reconciliation of Adjusted OIBDA to operating income (loss) and earnings (loss) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Three months ended |
|
Six months ended |
|
|
|
June 30, |
|
June 30, |
|
|
|
2024 |
|
2023 |
|
2024 |
|
2023 |
|
|
|
|
amounts in millions |
|
Adjusted OIBDA |
|
$ |
843 |
|
877 |
|
1,669 |
|
1,565 |
|
Impairment, restructuring and acquisition costs (note 8) |
|
|
(15) |
|
(19) |
|
(37) |
|
(51) |
|
Legal settlements and reserves |
|
|
— |
|
(24) |
|
— |
|
(24) |
|
Stock-based compensation |
|
|
(55) |
|
(54) |
|
(116) |
|
(110) |
|
Depreciation and amortization |
|
|
(245) |
|
(257) |
|
(486) |
|
(517) |
|
Operating income (loss) |
|
|
528 |
|
523 |
|
1,030 |
|
863 |
|
Interest expense |
|
|
(186) |
|
(200) |
|
(377) |
|
(396) |
|
Share of earnings (losses) of affiliates, net |
|
|
84 |
|
90 |
|
65 |
|
80 |
|
Realized and unrealized gains (losses) on financial instruments, net |
|
|
169 |
|
(96) |
|
166 |
|
(142) |
|
Other, net |
|
|
28 |
|
50 |
|
55 |
|
64 |
|
Earnings (loss) before income taxes |
|
$ |
623 |
|
367 |
|
939 |
|
469 |
|
|