Liberty Media Corporation Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Assets And Liabilities Measured At Fair Value (Tables)

Assets And Liabilities Measured At Fair Value (Tables)

6 Months Ended

Jun. 30, 2017

Assets and Liabilities Measured at Fair Value

Assets and Liabilities Measured at Fair Value


	Fair Value Measurements at				Fair Value Measurements at
	June 30, 2017				December 31, 2016
			Quoted			Quoted
			prices			prices
			in active	Significant		in active	Significant
			markets	other		markets	other
			for identical	observable		for identical	observable
			assets	inputs		assets	inputs
Description	Total		(Level 1)	(Level 2)	Total	(Level 1)	(Level 2)
	amounts in millions
Cash equivalents	$	502	502	—	289	289	—
Available-for-sale securities	$	681	508	173	489	489	—
Financial instrument assets	$	413	18	395	286	16	270
Debt	$	2,183	—	2,183	1,546	—	1,546

Realized and Unrealized Gains (Losses) on Financial Instruments

	Three months ended			Six months ended
	June 30,			June 30,
	2017		2016	2017	2016
	amounts in millions
Fair Value Option Securities	$	(10)	5	20	29
Debt measured at fair value (a)		(78)	4	(194)	1
Change in fair value of bond hedges (b)		46	(40)	124	(68)
Other derivatives		(7)	(1)	(11)	(2)
	$	(49)	(32)	(61)	(40)

(a)

Changes in unrealized gains (losses) on debt measured at fair value are due to market factors primarily driven by changes in the fair value of the underlying shares into which the debt is exchangeable.

Contemporaneously with the issuance of the 1.375% Cash Convertible Notes due 2023, Liberty entered into privately negotiated cash convertible note hedges, which are expected to offset potential cash payments Liberty would be required to make in excess of the principal amount of the 1.375% Cash Convertible Notes due 2023, upon conversion of the notes. The bond hedges are marked to market based on the trading price of underlying Series A Liberty SiriusXM, Liberty Braves and Liberty Formula One securities and other observable market data as the significant inputs (Level 2). See note 10 for additional discussion of the bond hedges.