Quarterly report pursuant to Section 13 or 15(d)

Financial Information for Tracking Stock Groups - Statement of Operations (Details)

v3.21.2
Financial Information for Tracking Stock Groups - Statement of Operations (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Revenue:        
Total revenue $ 3,100 $ 2,732 $ 8,230 $ 6,654
Operating costs and expenses, including stock-based compensation (note 2):        
Subscriber acquisition costs 70 110 245 257
Other operating expenses 221 154 513 339
Selling, general and administrative 481 423 1,336 1,221
Impairment, restructuring and acquisition costs, net of recoveries (95)   13 24
Depreciation and amortization 274 279 806 812
Total operating costs and expenses 2,398 2,412 6,764 5,874
Operating income (loss) 702 320 1,466 780
Other income (expense):        
Interest expense (168) (153) (484) (480)
Investments Share of Earnings (Losses) of Affiliates, Net 9 (187) (134) (442)
Realized and unrealized gains (losses) on financial instruments, net (40) 16 66 (163)
Gains (losses) on dilution of investment in affiliate 142   152 1
Other, net (72) (32) (54) (2)
Total other income (expense) (129) (356) (454) (1,086)
Earnings (loss) before income taxes 573 (36) 1,012 (306)
Income tax benefit (expense) (173) (7) (98) 3
Net earnings (loss) 400 (43) 914 (303)
Less net earnings (loss) attributable to the noncontrolling interests 74 71 234 213
Less net earnings (loss) attributable to redeemable noncontrolling interest (2)   51  
Net earnings (loss) attributable to Liberty stockholders 328 (114) 629 (516)
Liberty SiriusXM Group        
Revenue:        
Total revenue 2,198 2,025 6,415 5,851
Operating costs and expenses, including stock-based compensation (note 2):        
Subscriber acquisition costs 70 110 245 257
Other operating expenses 67 64 197 196
Selling, general and administrative 402 363 1,122 1,055
Impairment, restructuring and acquisition costs, net of recoveries (95)   13 24
Depreciation and amortization 152 142 451 432
Total operating costs and expenses 1,594 1,574 4,948 4,575
Operating income (loss) 604 451 1,467 1,276
Other income (expense):        
Interest expense (130) (116) (373) (347)
Investments Share of Earnings (Losses) of Affiliates, Net 2 (183) (181) (331)
Intergroup interest (expense) income       (7)
Realized and unrealized gains (losses) on financial instruments, net (42) (39) (42) (228)
Gains (losses) on dilution of investment in affiliate 142   152 1
Unrealized gains/( loss) on inter-group interests 20 25 52 92
Other, net (75) (36) (66) (20)
Total other income (expense) (83) (349) (458) (840)
Earnings (loss) before income taxes 521 102 1,009 436
Income tax benefit (expense) (108) (22) (126) (88)
Net earnings (loss) 413 80 883 348
Less net earnings (loss) attributable to the noncontrolling interests 71 68 215 210
Net earnings (loss) attributable to Liberty stockholders 342 12 668 138
Braves Group        
Revenue:        
Total revenue 234 110 466 143
Operating costs and expenses, including stock-based compensation (note 2):        
Other operating expenses 154 90 316 143
Selling, general and administrative 28 17 73 39
Depreciation and amortization 22 19 56 54
Total operating costs and expenses 204 126 445 236
Operating income (loss) 30 (16) 21 (93)
Other income (expense):        
Interest expense (6) (6) (18) (19)
Investments Share of Earnings (Losses) of Affiliates, Net 9 (5) 20 (2)
Realized and unrealized gains (losses) on financial instruments, net     1 (10)
Unrealized gains/( loss) on inter-group interests 12 (10) (15) 78
Other, net 1 (1) 1 (1)
Total other income (expense) 16 (22) (11) 46
Earnings (loss) before income taxes 46 (38) 10 (47)
Income tax benefit (expense) (10) 7 (8) 31
Net earnings (loss) 36 (31) 2 (16)
Net earnings (loss) attributable to Liberty stockholders 36 (31) 2 (16)
Formula One Group        
Revenue:        
Total revenue 668 597 1,349 660
Operating costs and expenses, including stock-based compensation (note 2):        
Selling, general and administrative 51 43 141 127
Depreciation and amortization 100 118 299 326
Total operating costs and expenses 600 712 1,371 1,063
Operating income (loss) 68 (115) (22) (403)
Other income (expense):        
Interest expense (32) (31) (93) (114)
Investments Share of Earnings (Losses) of Affiliates, Net (2) 1 27 (109)
Intergroup interest (expense) income       7
Realized and unrealized gains (losses) on financial instruments, net 2 55 107 75
Unrealized gains/( loss) on inter-group interests (32) (15) (37) (170)
Other, net 2 5 11 19
Total other income (expense) (62) 15 15 (292)
Earnings (loss) before income taxes 6 (100) (7) (695)
Income tax benefit (expense) (55) 8 36 60
Net earnings (loss) (49) (92) 29 (635)
Less net earnings (loss) attributable to the noncontrolling interests 3 3 19 3
Less net earnings (loss) attributable to redeemable noncontrolling interest (2)   51  
Net earnings (loss) attributable to Liberty stockholders (50) (95) (41) (638)
Sirius XM Holdings Revenue        
Revenue:        
Total revenue 2,198 2,025 6,415 5,851
Sirius XM Holdings Revenue | Liberty SiriusXM Group        
Revenue:        
Total revenue 2,198 2,025 6,415 5,851
Revenue Share And Royalties        
Operating costs and expenses, including stock-based compensation (note 2):        
Cost of services 671 602 1,974 1,759
Revenue Share And Royalties | Liberty SiriusXM Group        
Operating costs and expenses, including stock-based compensation (note 2):        
Cost of services 671 602 1,974 1,759
Programming and content expense        
Operating costs and expenses, including stock-based compensation (note 2):        
Cost of services 142 123 407 351
Programming and content expense | Liberty SiriusXM Group        
Operating costs and expenses, including stock-based compensation (note 2):        
Cost of services 142 123 407 351
Customer service and billing        
Operating costs and expenses, including stock-based compensation (note 2):        
Cost of services 128 119 372 359
Customer service and billing | Liberty SiriusXM Group        
Operating costs and expenses, including stock-based compensation (note 2):        
Cost of services 128 119 372 359
Other cost of subscriber services        
Operating costs and expenses, including stock-based compensation (note 2):        
Cost of services 57 51 167 142
Other cost of subscriber services | Liberty SiriusXM Group        
Operating costs and expenses, including stock-based compensation (note 2):        
Cost of services 57 51 167 142
Primary Formula 1        
Revenue:        
Total revenue 668 597 1,349 660
Operating costs and expenses, including stock-based compensation (note 2):        
Cost of services 449 551 931 610
Primary Formula 1 | Formula One Group        
Revenue:        
Total revenue 668 597 1,349 660
Operating costs and expenses, including stock-based compensation (note 2):        
Cost of services 449 551 931 610
Other        
Revenue:        
Total revenue 234 110 466 143
Other | Braves Group        
Revenue:        
Total revenue $ 234 $ 110 $ 466 $ 143