Information About Liberty's Operating Segments (Tables)
|
9 Months Ended |
Sep. 30, 2023 |
|---|
| Information About Liberty's Operating Segments |
|
| Schedule of revenue disaggregated by source |
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Three months ended |
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Nine months ended |
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September 30, |
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September 30, |
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|
|
2023 |
|
2022 |
|
2023 |
|
2022 |
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|
|
|
amounts in millions |
|
Liberty SiriusXM Group |
|
|
|
|
|
|
|
|
|
|
Sirius XM Holdings: |
|
|
|
|
|
|
|
|
|
|
Subscriber |
|
$ |
1,729 |
|
1,734 |
|
5,146 |
|
5,166 |
|
Advertising |
|
|
459 |
|
457 |
|
1,278 |
|
1,292 |
|
Equipment |
|
|
49 |
|
50 |
|
142 |
|
148 |
|
Other |
|
|
34 |
|
39 |
|
99 |
|
114 |
|
Total Liberty SiriusXM Group |
|
|
2,271 |
|
2,280 |
|
6,665 |
|
6,720 |
|
Formula One Group |
|
|
|
|
|
|
|
|
|
|
Formula 1: |
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|
|
|
|
|
|
|
|
|
Primary |
|
|
790 |
|
624 |
|
1,722 |
|
1,539 |
|
Other |
|
|
97 |
|
91 |
|
270 |
|
280 |
|
Total Formula One Group |
|
|
887 |
|
715 |
|
1,992 |
|
1,819 |
|
Braves Group |
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|
|
|
|
|
|
|
|
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Corporate and other: |
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|
|
|
|
|
|
|
|
|
Baseball |
|
|
46 |
|
238 |
|
318 |
|
496 |
|
Mixed-Use Development |
|
|
3 |
|
14 |
|
32 |
|
39 |
|
Total Braves Group |
|
|
49 |
|
252 |
|
350 |
|
535 |
|
Consolidated Liberty |
|
$ |
3,207 |
|
3,247 |
|
9,007 |
|
9,074 |
|
|
| Adjusted OIBDA by Segment |
|
|
|
|
|
|
|
|
|
|
|
|
|
Three months ended |
|
Nine months ended |
|
|
|
September 30, |
|
September 30, |
|
|
|
2023 |
|
2022 |
|
2023 |
|
2022 |
|
|
|
|
amounts in millions |
|
Liberty SiriusXM Group |
|
|
|
|
|
|
|
|
|
|
Sirius XM Holdings |
|
$ |
748 |
|
722 |
|
2,075 |
|
2,091 |
|
Corporate and other |
|
|
(12) |
|
(9) |
|
(31) |
|
(18) |
|
Total Liberty SiriusXM Group |
|
|
736 |
|
713 |
|
2,044 |
|
2,073 |
|
Formula One Group |
|
|
|
|
|
|
|
|
|
|
Formula 1 |
|
|
215 |
|
170 |
|
487 |
|
446 |
|
Corporate and other |
|
|
(18) |
|
(12) |
|
(44) |
|
(30) |
|
Total Formula One Group |
|
|
197 |
|
158 |
|
443 |
|
416 |
|
Liberty Live Group |
|
|
|
|
|
|
|
|
|
|
Corporate and other |
|
|
(4) |
|
NA |
|
(4) |
|
NA |
|
Total Liberty Live Group |
|
|
(4) |
|
NA |
|
(4) |
|
NA |
|
Braves Group |
|
|
|
|
|
|
|
|
|
|
Corporate and other |
|
|
3 |
|
38 |
|
14 |
|
74 |
|
Total Braves Group |
|
|
3 |
|
38 |
|
14 |
|
74 |
|
Consolidated Liberty |
|
$ |
932 |
|
909 |
|
2,497 |
|
2,563 |
|
|
| Other Information By Segment |
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|
September 30, 2023 |
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|
|
Total |
|
Investments |
|
Capital |
|
|
|
assets |
|
in affiliates |
|
expenditures |
|
|
|
|
amounts in millions |
|
Liberty SiriusXM Group |
|
|
|
|
|
|
|
|
Sirius XM Holdings |
|
$ |
29,579 |
|
697 |
|
520 |
|
Corporate and other |
|
|
358 |
|
8 |
|
— |
|
Total Liberty SiriusXM Group |
|
|
29,937 |
|
705 |
|
520 |
|
Formula One Group |
|
|
|
|
|
|
|
|
Formula 1 |
|
|
9,201 |
|
3 |
|
69 |
|
Corporate and other |
|
|
1,353 |
|
40 |
|
239 |
|
Total Formula One Group |
|
|
10,554 |
|
43 |
|
308 |
|
Liberty Live Group |
|
|
|
|
|
|
|
|
Corporate and other |
|
|
1,191 |
|
397 |
|
— |
|
Total Braves Group |
|
|
1,191 |
|
397 |
|
— |
|
Braves Group |
|
|
|
|
|
|
|
|
Corporate and other |
|
|
NA |
|
NA |
|
35 |
|
Total Braves Group |
|
|
NA |
|
NA |
|
35 |
|
Elimination |
|
|
(167) |
|
— |
|
— |
|
Consolidated Liberty |
|
$ |
41,515 |
|
1,145 |
|
863 |
|
|
| Reconciliation of Adjusted OIBDA to operating income (loss) and earnings (loss) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Three months ended |
|
Nine months ended |
|
|
|
September 30, |
|
September 30, |
|
|
|
2023 |
|
2022 |
|
2023 |
|
2022 |
|
|
|
|
amounts in millions |
|
Adjusted OIBDA |
|
$ |
932 |
|
909 |
|
2,497 |
|
2,563 |
|
Impairment, restructuring and acquisition costs, net of recoveries (note 8) |
|
|
(6) |
|
(74) |
|
(57) |
|
(75) |
|
Legal settlements and reserves |
|
|
— |
|
— |
|
(24) |
|
— |
|
Stock-based compensation |
|
|
(63) |
|
(61) |
|
(173) |
|
(173) |
|
Depreciation and amortization |
|
|
(234) |
|
(268) |
|
(751) |
|
(790) |
|
Operating income (loss) |
|
|
629 |
|
506 |
|
1,492 |
|
1,525 |
|
Interest expense |
|
|
(196) |
|
(179) |
|
(592) |
|
(497) |
|
Share of earnings (losses) of affiliates, net |
|
|
138 |
|
111 |
|
218 |
|
158 |
|
Realized and unrealized gains (losses) on financial instruments, net |
|
|
11 |
|
106 |
|
(131) |
|
545 |
|
Other, net |
|
|
(14) |
|
20 |
|
50 |
|
87 |
|
Earnings (loss) before income taxes |
|
$ |
568 |
|
564 |
|
1,037 |
|
1,818 |
|
|