Quarterly report pursuant to Section 13 or 15(d)

Assets And Liabilities Measured At Fair Value (Tables)

v3.19.2
Assets And Liabilities Measured At Fair Value (Tables)
6 Months Ended
Jun. 30, 2019
Assets and Liabilities Measured at Fair Value

Fair Value Measurements at

Fair Value Measurements at

June 30, 2019

December 31, 2018

    

    

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

$

354

 

354

 

 

231

 

231

 

Debt and equity securities

$

361

 

263

 

98

 

1,195

 

228

 

967

Financial instrument assets

$

320

 

28

 

292

 

280

 

21

259

Debt

$

2,723

 

 

2,723

 

2,487

 

 

2,487

Realized and Unrealized Gains (Losses) on Financial Instruments

Three months ended

Six months ended

June 30,

June 30,

    

2019

    

2018

    

2019

    

2018

 

amounts in millions

Debt and equity securities

$

40

 

84

 

71

 

158

Debt measured at fair value (a)

(71)

(133)

(233)

(103)

Change in fair value of bond hedges (b)

(12)

97

39

117

Other derivatives

 

(44)

 

10

 

(62)

 

39

$

(87)

 

58

 

(185)

 

211

(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 9 for additional discussion of the bond hedges.