Quarterly report pursuant to Section 13 or 15(d)

Assets And Liabilities Measured At Fair Value (Tables)

v3.10.0.1
Assets And Liabilities Measured At Fair Value (Tables)
6 Months Ended
Jun. 30, 2018
Assets and Liabilities Measured at Fair Value  
Assets and Liabilities Measured at Fair Value

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fair Value Measurements at

 

Fair Value Measurements at

 

 

 

June 30, 2018

 

December 31, 2017

 

 

    

 

 

    

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

 

$

295

 

295

 

 —

 

804

 

804

 

 —

 

Debt and equity securities

 

$

1,362

 

259

 

1,103

 

1,047

 

467

 

580

 

Financial instrument assets

 

$

524

 

21

 

503

 

369

 

19

 

350

 

Debt

 

$

2,401

 

 —

 

2,401

 

2,115

 

 —

 

2,115

 

 

Realized and Unrealized Gains (Losses) on Financial Instruments

 

 

 

 

 

 

 

 

 

 

 

 

 

Three months ended 

 

Six months ended

 

 

 

June 30,

 

June 30,

 

 

    

2018

    

2017

    

2018

    

2017

 

 

 

amounts in millions

 

Debt and equity securities

 

$

84

 

(10)

 

158

 

20

 

Debt measured at fair value (a)

 

 

(133)

 

(78)

 

(103)

 

(194)

 

Change in fair value of bond hedges (b)

 

 

97

 

46

 

117

 

124

 

Other derivatives

 

 

10

 

(7)

 

39

 

(11)

 

 

 

$

58

 

(49)

 

211

 

(61)

 


(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.

(b)

Contemporaneously with the issuance of Liberty’s 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 Liberty’s 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 11 for additional discussion of the bond hedges.