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

Quarterly report pursuant to Section 13 or 15(d)

Long-Term Debt (Tables)

Long-Term Debt (Tables)

3 Months Ended

Mar. 31, 2019


	Outstanding		Carrying value
	Principal		March 31,		December 31,
	March 31, 2019		2019		2018
	amounts in millions
Liberty SiriusXM Group
Corporate level notes and loans:
2.125% Exchangeable Senior Debentures due 2048 (1)	$	400		384	372
SIRIUS XM Holdings Margin Loan		800		800	600
Subsidiary notes and loans:
SIRIUS XM 3.875% Senior Notes due 2022		1,000		994	994
SIRIUS XM 4.625% Senior Notes due 2023		500		497	497
SIRIUS XM 6% Senior Notes due 2024		1,500		1,490	1,490
SIRIUS XM 5.375% Senior Notes due 2025		1,000		993	992
SIRIUS XM 5.375% Senior Notes due 2026		1,000		991	991
SIRIUS XM 5.0% Senior Notes due 2027		1,500		1,488	1,487
Pandora 1.75% Convertible Senior Notes due 2020		1		1	—
Pandora 1.75% Convertible Senior Notes due 2023		193		151	—
SIRIUS XM Senior Secured Revolving Credit Facility		582		582	439
SIRIUS XM Holdings leases		—		—	5
Deferred financing costs				(10)	(9)
Total Liberty SiriusXM Group		8,476		8,361	7,858
Braves Group
Subsidiary notes and loans:
Notes and loans		480		480	494
Deferred financing costs				(6)	(3)
Total Braves Group		480		474	491
Formula One Group
Corporate level notes and loans:
1.375% Cash Convertible Notes due 2023 (1)		1,000		1,117	1,062
1% Cash Convertible Notes due 2023 (1)		450		504	463
2.25% Exchangeable Senior Debentures due 2046 (1)		212		229	209
2.25% Exchangeable Senior Debentures due 2048 (1)		385		430	381
Live Nation Margin Loan		—		—	—
Other		33		33	33
Subsidiary notes and loans:
Senior Loan Facility		2,902		2,909	2,910
Deferred financing costs				(18)	(19)
Total Formula One Group		4,982		5,204	5,039
Total debt	$	13,938		14,039	13,388
Debt classified as current				(13)	(17)
Total long-term debt			$	14,026	13,371

(1) Measured at fair value

Fair Value of Debt

The fair value, 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):


	March 31, 2019
SIRIUS XM 3.875% Senior Notes due 2022	$	995
SIRIUS XM 4.625% Senior Notes due 2023	$	506
SIRIUS XM 6% Senior Notes due 2024	$	1,554
SIRIUS XM 5.375% Senior Notes due 2025	$	1,025
SIRIUS XM 5.375% Senior Notes due 2026	$	1,021
SIRIUS XM 5.0% Senior Notes due 2027	$	1,498
Pandora 1.75% Senior Notes due 2020	$	1
Pandora 1.75% Senior Notes due 2023	$	216

Braves Holdings

Schedule of Braves Holdings Debt


	Carrying value			As of March 31, 2019
	March 31,		December 31,	Borrowing	Weighted avg	Maturity
	2019		2018	Capacity	interest rate	Date
	amounts in millions
Operating credit facilities	$	7	17	185	3.49%	various
Ballpark funding
Term loan		52	52	NA	4.11%	August 2021
Senior secured note		192	195	NA	3.77%	September 2041
Floating rate notes		69	70	NA	4.50%	September 2029
Mixed-use credit facilities and loans		160	160	298	4.53%	various
Spring training credit facility		—	—	40	3.57%	December 2022
Total Braves Holdings	$	480	494

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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+ Details