Quarterly report pursuant to Section 13 or 15(d)

Information About Liberty's Operating Segments (Tables)

v3.20.2
Information About Liberty's Operating Segments (Tables)
9 Months Ended
Sep. 30, 2020
Information About Liberty's Operating Segments  
Schedule of revenue disaggregated by source

Three months ended

Nine months ended

September 30,

September 30,

    

2020

    

2019

    

2020

    

2019

 

amounts in millions

Liberty SiriusXM Group

 

 

 

Sirius XM Holdings:

Subscriber

$

1,594

1,556

4,757

 

4,551

Advertising

 

345

366

866

 

933

Equipment

47

45

113

127

Other

39

44

115

121

Total Liberty SiriusXM Group

2,025

2,011

5,851

5,732

Braves Group

 

 

 

 

Corporate and other:

 

 

 

 

Baseball

 

102

 

203

 

119

 

415

Development

 

8

 

9

 

24

 

27

Total Braves Group

110

212

143

442

Formula One Group

Formula 1:

Primary

524

553

549

1,282

Other

73

80

111

217

Total Formula One Group

597

633

660

1,499

Consolidated Liberty

$

2,732

 

2,856

 

6,654

 

7,673

Adjusted OIBDA by segment

Three months ended

Nine months ended

September 30,

September 30,

    

2020

    

2019

    

2020

    

2019

 

amounts in millions

Liberty SiriusXM Group

Sirius XM Holdings

$

661

 

659

 

1,915

 

1,871

Corporate and other

 

(7)

 

(4)

 

(26)

 

(10)

Total Liberty SiriusXM Group

 

654

 

655

 

1,889

 

1,861

Braves Group

Corporate and other

 

5

 

45

 

(49)

 

73

Total Braves Group

 

5

 

45

 

(49)

 

73

Formula One Group

 

 

Formula 1

 

14

 

162

 

(34)

 

372

Corporate and other

(6)

(8)

(26)

(23)

Total Formula One Group

8

154

(60)

349

Consolidated Liberty

$

667

 

854

 

1,780

 

2,283

Other Information By Segment

September 30, 2020

    

Total

    

Investments

    

Capital

 

assets

in affiliates

expenditures

amounts in millions

Liberty SiriusXM Group

Sirius XM Holdings

$

30,517

 

697

 

230

Corporate and other

1,093

289

Total Liberty SiriusXM Group

31,610

986

230

Braves Group

Corporate and other

1,628

87

69

Total Braves Group

1,628

87

69

Formula One Group

Formula 1

8,807

7

Corporate and other

 

2,424

 

33

 

10

Total Formula One Group

11,231

33

17

Elimination (1)

(680)

Consolidated Liberty

$

43,789

 

1,106

 

316

(1) This amount is primarily comprised of the call spread between the Formula One Group and the Liberty SiriusXM Group with respect to the Live Nation shares that were reattributed to the Liberty SiriusXM Group and the intergroup interests in the Braves Group held by the Formula One Group and the Liberty SiriusXM Group and the intergroup interest in the Formula One Group held by the Liberty SiriusXM Group, as discussed in note 2. The Braves Group intergroup interests attributable to the Formula One Group and the Liberty SiriusXM Group are presented as assets of the Formula One Group and Liberty SiriusXM Group, respectively, and are presented as liabilities of the Braves Group in the attributed financial statements. The Formula One Group intergroup interest attributable to the Liberty SiriusXM Group is presented as an asset of the Liberty SiriusXM Group and is presented as a liability of the Formula One Group in the attributed financial statements. The offsetting amounts between tracking stock groups are eliminated in consolidation.
Reconciliation of Adjusted OIBDA to operating income (loss) and earnings (loss)

Three months ended

Nine months ended

September 30,

September 30,

    

2020

    

2019

    

2020

    

2019

 

amounts in millions

Adjusted OIBDA

$

667

 

854

 

1,780

 

2,283

Legal settlements and reserves

16

(25)

Stock-based compensation

 

(68)

 

(76)

 

(180)

 

(217)

Acquisition and restructuring (note 3)

(24)

(83)

Depreciation and amortization

 

(279)

 

(271)

 

(812)

 

(790)

Operating income (loss)

320

507

780

1,168

Interest expense

 

(153)

 

(169)

 

(480)

 

(495)

Share of earnings (losses) of affiliates, net

 

(187)

 

55

 

(442)

 

69

Realized and unrealized gains (losses) on financial instruments, net

 

16

 

14

 

(163)

 

(171)

Other, net

 

(32)

 

(47)

 

(1)

 

(18)

Earnings (loss) before income taxes

$

(36)

 

360

 

(306)

 

553