Summary of Significant Accounting Policies (Tables)
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12 Months Ended |
Dec. 31, 2016 |
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| Property, Plant and Equipment |
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Estimated Useful Life
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December 31, 2016
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December 31, 2015
|
|
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amounts in millions
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Land
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NA
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|
$
|
191
|
|
101
|
|
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Buildings and improvements
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10 - 40 years
|
|
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144
|
|
164
|
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Support equipment
|
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3 - 20 years
|
|
|
316
|
|
312
|
|
|
Satellite system
|
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15 years
|
|
|
1,668
|
|
1,628
|
|
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Construction in progress
|
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NA
|
|
|
863
|
|
382
|
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Total property and equipment
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$
|
3,182
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|
2,587
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| Share-based compensation expense |
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Years ended December 31,
|
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2016
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2015
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2014
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amounts in millions
|
|
|
Cost of subscriber services:
|
|
|
|
|
|
|
|
|
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Programming and content
|
|
$
|
21
|
|
19
|
|
17
|
|
|
Customer service and billing
|
|
|
4
|
|
5
|
|
5
|
|
|
Other
|
|
|
5
|
|
8
|
|
8
|
|
|
Other operating expense
|
|
|
13
|
|
18
|
|
17
|
|
|
Selling, general and administrative
|
|
|
107
|
|
154
|
|
170
|
|
|
|
|
$
|
150
|
|
204
|
|
217
|
|
|
| Liberty Media Corporation |
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| Reconciliation of Basic and Diluted Weighted Average Shares |
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|
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January 1, 2016
through
April 15, 2016
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Year ended
December 31, 2015
|
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Year ended
December 31, 2014
|
|
|
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|
number of shares in millions
|
|
|
Basic WASO
|
|
335
|
|
338
|
|
342
|
|
|
Potentially dilutive shares
|
|
2
|
|
2
|
|
3
|
|
|
Diluted WASO
|
|
337
|
|
340
|
|
345
|
|
|
| Common Class SeriesA, SeriesB, SeriesC | Liberty Sirius XM Group |
|
| Reconciliation of Basic and Diluted Weighted Average Shares |
|
|
|
|
|
|
|
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April 18, 2016
through
December 31, 2016
|
|
|
|
|
number of shares in millions
|
|
|
Basic WASO
|
|
335
|
|
|
Potentially dilutive shares
|
|
2
|
|
|
Diluted WASO
|
|
337
|
|
|
| Common Class SeriesA, SeriesB, SeriesC | Liberty Braves Group |
|
| Reconciliation of Basic and Diluted Weighted Average Shares |
|
|
|
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|
April 18, 2016
through
December 31, 2016
(a)(b)(c)
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|
|
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|
number of shares in millions
|
|
|
Basic WASO
|
|
46
|
|
|
Potentially dilutive shares
|
|
9
|
|
|
Diluted WASO
|
|
55
|
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|
(a)
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|
As discussed in note 2, subsequent to the Recapitalization, Liberty distributed subscription rights to holders of Liberty Braves common stock, which were priced at a discount to the market value, to acquire additional shares of Liberty Braves common stock. The rights offering, because of the discount, is considered a stock dividend which requires retroactive treatment for prior periods for the weighted average shares outstanding.
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(b)
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Potentially dilutive shares are excluded from the computation of diluted EPS during periods in which losses are reported since the result would be antidilutive.
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(c)
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|
As discussed in note 2, following the Recapitalization and Series C Liberty Braves common stock rights offering, the number of notional shares representing the Formula One Group’s intergroup interest in the Braves Group was adjusted to 9,084,940 shares. The intergroup interest is a quasi-equity interest which is not represented by outstanding shares of common stock; rather, the Formula One Group has an attributed value in the Braves Group which is generally stated in terms of a number of shares of stock issuable to the Formula One Group with respect to its interest in the Braves Group. Each reporting period, the notional shares representing the intergroup interest are marked to fair value. As the notional shares underlying the intergroup interest are not represented by outstanding shares of common stock, such shares have not been officially designated Series A, B or C Liberty Braves common stock. However, Liberty has assumed that the notional shares (if and when issued) would be comprised of Series C Liberty Braves common stock in order to not dilute voting percentages. Therefore, the market price of Series C Liberty Braves common stock is used for the quarterly mark-to-market adjustment through the unaudited attributed consolidated statements of operations. The notional shares representing the intergroup interest have no impact on the basic earnings per share weighted average number of shares outstanding. However, in periods where the Braves Group has net earnings, the notional shares representing the intergroup interest are included in the diluted earnings per share WASO as if the shares had been issued and outstanding during the period. In periods where the Braves Group has net earnings, an adjustment is also made to the numerator in the diluted earnings per share calculation for the unrealized gain or loss incurred from marking the intergroup interest to fair value during the period as follows:
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April 18, 2016
through
December 31, 2016
(a)
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amounts in millions
|
|
|
Basic earnings (loss) attributable to Liberty Braves shareholders
|
$
|
(30)
|
|
|
Unrealized (gain) loss on the intergroup interest
|
|
27
|
|
|
Diluted earnings (loss) attributable to Liberty Braves shareholders
|
$
|
(3)
|
|
|
(a)
|
|
Unrealized gains on the intergroup interest are excluded from the computation of diluted EPS during periods in which net losses attributable to the Braves Group are reported since the gain would be antidilutive.
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| Common Class SeriesA, SeriesB, SeriesC | Liberty Formula One Group |
|
| Reconciliation of Basic and Diluted Weighted Average Shares |
|
|
|
|
|
|
|
|
April 18, 2016
through
December 31, 2016
|
|
|
|
|
number of shares in millions
|
|
|
Basic WASO
|
|
84
|
|
|
Potentially dilutive shares
|
|
1
|
|
|
Diluted WASO
|
|
85
|
|
|