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

Leases (Tables)

6 Months Ended

Jun. 30, 2019


	Balance at December 31, 2018		Adjustments due to ASC 842	Balance at January 1, 2019
	in millions
Assets
Other current assets	$	360	(2)	358
Property and equipment, at cost	$	3,765	(371)	3,394
Accumulated depreciation	$	(1,296)	15	(1,281)
Other assets	$	1,861	396	2,257

Liabilities and Equity
Current portion of debt	$	17	(4)	13
Other current liabilities	$	32	36	68
Long-term debt	$	13,371	(1)	13,370
Other long-term liabilities	$	864	9	873
Retained earnings	$	13,644	(2)	13,642


	Three months ended		Six months ended
	June 30, 2019		June 30, 2019
	in millions
Finance lease cost
Depreciation of leased assets	$	16	18
Interest on lease liabilities		2	3
Total finance lease cost		18	21
Operating lease cost		25	44
Sublease income		(1)	(2)
Total lease cost	$	42	63


	June 30, 2019
Weighted-average remaining lease term (years):
Finance leases		29.6
Operating leases		10.1
Weighted-average discount rate:
Finance leases		4.6%
Operating leases		5.2%


	June 30,
	2019
	in millions
Operating leases:
Operating lease right-of-use assets (1)	$	487

Current operating lease liabilities (2)	$	54
Operating lease liabilities (3)		457
Total operating lease liabilities	$	511

Finance Leases:
Property and equipment, at cost	$	494
Accumulated depreciation		(85)
Property and equipment, net	$	409

Current finance lease liabilities (2)	$	9
Finance lease liabilities (3)		119
Total finance lease liabilities	$	128

(1)

Included in Other assets in the condensed consolidated balance sheet

(2)

Included in Other current liabilities in the condensed consolidated balance sheet

(3)

Included in Other liabilities in the condensed consolidated balance sheet


	Six Months Ended
	June 30, 2019
	in millions
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	42
Financing cash flows from finance leases	$	8

Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	36


	Finance leases		Operating leases
	in millions
Remainder of 2019	$	5	33
2020		11	81
2021		10	69
2022		9	65
2023		9	62
Thereafter		173	351
Total lease payments		217	661
Less: implied interest		89	150
Present value of lease liabilities	$	128	511


	Finance leases		Operating leases
	in millions
Remainder of 2019	$	5	33
2020		11	81
2021		10	69
2022		9	65
2023		9	62
Thereafter		173	351
Total lease payments		217	661
Less: implied interest		89	150
Present value of lease liabilities	$	128	511