Annual report pursuant to Section 13 and 15(d)

Debt (Tables)

v3.3.1.900
Debt (Tables)
12 Months Ended
Dec. 31, 2015
Dec. 31, 2015
Long-term Debt, Unclassified [Abstract]    
Schedule of Long-term Debt Instruments

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding

 

Carrying value

 

 

    

Principal

    

December 31,

    

December 31,

 

 

 

December 31, 2015

 

 2015

 

 2014

 

 

 

amounts in millions

 

Corporate level notes and loans:

 

 

 

 

 

 

 

 

 

Liberty 1.375% Cash Convertible Notes due 2023

 

$

1,000

 

 

995

 

990

 

Margin loans

 

 

250

 

 

250

 

250

 

Other

 

 

38

 

 

38

 

 —

 

Subsidiary notes and loans:

 

 

 

 

 

 

 

 

 

SIRIUS XM 5.875% Senior Notes due 2020

 

 

650

 

 

645

 

644

 

SIRIUS XM 5.75% Senior Notes due 2021

 

 

600

 

 

596

 

595

 

SIRIUS XM 5.25% Senior Secured Notes due 2022

 

 

400

 

 

406

 

407

 

SIRIUS XM 4.25% Senior Notes due 2020

 

 

500

 

 

496

 

496

 

SIRIUS XM 4.625% Senior Notes due 2023

 

 

500

 

 

496

 

495

 

SIRIUS XM 6% Senior Notes due 2024

 

 

1,500

 

 

1,485

 

1,484

 

SIRIUS XM 5.375% Senior Notes due 2025

 

 

1,000

 

 

989

 

 —

 

SIRIUS XM Credit Facility

 

 

340

 

 

340

 

380

 

Other subsidiary debt

 

 

160

 

 

160

 

111

 

Total debt

 

$

6,938

 

 

6,896

 

5,852

 

Less debt classified as current

 

 

 

 

 

(255)

 

(257)

 

Less deferred financing costs, net

 

 

 

 

 

(15)

 

(7)

 

Total long-term debt

 

 

 

 

$

6,626

 

5,588

 

 

 
Value of shares pledged as collateral pursuant to the margin loan agreements

 

 

 

 

 

 

 

 

    

Number of shares pledged

    

    

 

 

 

 

as collateral as of

 

Share value as of

 

Investment

    

December 31, 2015

    

December 31, 2015

 

 

 

amounts in millions

 

SIRIUS XM

 

145.4

 

$

592

 

Live Nation

 

4.2

 

$

104

 

 

 
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's publicly traded debt securities is as follows (amounts in millions):

 

 

 

 

 

 

 

    

December 31,

 

 

 

2015

 

SIRIUS XM 5.875% Senior Notes due 2020

 

$

681

 

SIRIUS XM 5.75% Senior Notes due 2021

 

$

618

 

SIRIUS XM 5.25% Senior Secured Notes due 2022

 

$

423

 

SIRIUS XM 4.25% Senior Notes due 2020

 

$

507

 

SIRIUS XM 4.625% Senior Notes due 2023

 

$

490

 

SIRIUS XM 6% Senior Notes due 2024

 

$

1,567

 

SIRIUS XM 5.375% Senior Notes due 2025

 

$

1,010

 

 

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):

 

 

 

 

 

 

 

2016

    

$

256

 

2017

 

$

5

 

2018

 

$

46

 

2019

 

$

3

 

2020

 

$

1,596