Annual report pursuant to Section 13 and 15(d)

Debt (Tables)

v3.20.4
Debt (Tables)
12 Months Ended
Dec. 31, 2020
Schedule of Long-term Debt Instruments

Outstanding

Carrying value

 

    

Principal

    

December 31,

    

December 31,

 

December 31, 2020

2020

2019

 

Liberty SiriusXM Group

Corporate level notes and loans:

1.375% Cash Convertible Notes due 2023 (1)

$

1,000

 

1,251

NA

2.125% Exchangeable Senior Debentures due 2048 (1)

400

418

423

2.25% Exchangeable Senior Debentures due 2048 (1)

385

475

NA

2.75% Exchangeable Senior Debentures due 2049 (1)

604

628

632

0.5% Exchangeable Senior Debentures due 2050 (1)

920

982

NA

Sirius XM Holdings Margin Loan

750

 

750

 

350

Live Nation Margin Loan

NA

Subsidiary notes and loans:

Sirius XM 3.875% Senior Notes due 2022

1,000

997

995

Sirius XM 4.625% Senior Notes due 2023

 

 

 

498

Sirius XM 4.625% Senior Notes due 2024

1,500

1,488

1,485

Sirius XM 5.375% Senior Notes due 2025

993

Sirius XM 5.375% Senior Notes due 2026

1,000

993

992

Sirius XM 5.0% Senior Notes due 2027

1,500

1,490

1,488

Sirius XM 5.50% Senior Notes due 2029

1,250

1,237

1,236

Sirius XM 4.125% Senior Notes due 2030

1,500

1,484

Pandora 1.75% Convertible Senior Notes due 2020

1

Pandora 1.75% Convertible Senior Notes due 2023

193

170

163

Sirius XM Senior Secured Revolving Credit Facility

 

649

 

649

 

Deferred financing costs

(12)

(11)

Total Liberty SiriusXM Group

12,651

13,000

9,245

Braves Group

Subsidiary notes and loans:

Notes and loans

674

674

559

Deferred financing costs

(4)

(5)

Total Braves Group

674

670

554

Formula One Group

Corporate level notes and loans:

1.375% Cash Convertible Notes due 2023 (1)

NA

NA

 

1,322

1% Cash Convertible Notes due 2023 (1)

450

582

585

2.25% Exchangeable Senior Debentures due 2046 (1)

203

209

257

2.25% Exchangeable Senior Debentures due 2048 (1)

NA

NA

459

Live Nation Margin Loan

NA

NA

130

Other

74

74

32

Subsidiary notes and loans:

Senior Loan Facility

2,902

2,904

2,907

Deferred financing costs

(10)

(15)

Total Formula One Group

3,629

 

3,759

 

5,677

Total debt

$

16,954

17,429

15,476

Less debt classified as current

 

(743)

 

(60)

Total long-term debt

$

16,686

 

15,416

(1) Measured at fair value

Schedule of Braves Holdings Debt

Carrying value

 

As of December 31, 2020

December 31,

    

December 31,

 

Borrowing

Weighted avg

Maturity

2020

2019

 

Capacity

interest rate

Date

amounts in millions

Operating credit facilities

$

115

45

185

1.51%

various

Ballpark funding

 

Term loan

46

49

NA

1.77%

August 2021

Senior secured note

184

190

NA

3.77%

September 2041

Floating rate notes

60

65

NA

1.92%

September 2029

Mixed-use credit facilities and loans

239

180

307

3.38%

various

Spring training credit facility

30

30

NA

3.65%

December 2030

Total Braves Holdings

$

674

559

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 is as follows (amounts in millions):

    

December 31,

 

2020

 

Sirius XM 3.875% Senior Notes due 2022

$

1,011

Sirius XM 4.625% Senior Notes due 2024

$

1,553

Sirius XM 5.375% Senior Notes due 2026

$

1,043

Sirius XM 5.0% Senior Notes due 2027

$

1,584

Sirius XM 5.50% Senior Notes due 2029

$

1,370

Sirius XM 4.125% Senior Notes due 2030

$

1,584

Pandora 1.75% Senior Notes due 2023

$

216

Schedule of Maturities of Long-term Debt

The annual principal maturities of outstanding debt obligations for each of the next five years is as follows (amounts in millions):

2021

    

$

69

2022

$

1,872

2023

$

2,461

2024

$

4,460

2025

$

117