Annual report pursuant to Section 13 and 15(d)

Investments In Affiliates Accounted For Using The Equity Method (Tables)

v3.22.0.1
Investments In Affiliates Accounted For Using The Equity Method (Tables)
12 Months Ended
Dec. 31, 2021
Schedule Of Equity Ownership And Carrying Amount

December 31, 2021

December 31, 2020

 

    

Percentage

    

Fair Value

    

Carrying

    

Carrying

 

ownership

(Level 1)

amount

amount

 

dollar amounts in millions

 

Liberty SiriusXM Group

Live Nation

31%

$

8,336

 

$

89

163

Sirius XM Canada

70%

NA

 

642

 

643

Other

74

80

Total Liberty SiriusXM Group

805

886

Braves Group

Other

NA

NA

110

94

Total Braves Group

110

94

Formula One Group

Other

 

various

 

NA

 

30

 

38

Total Formula One Group

30

 

38

Consolidated Liberty

$

945

1,018

Schedule Of Liberty's Share Of Earnings (Losses) Of Affiliates

Years ended December 31,

 

    

2021

    

2020

    

2019

 

amounts in millions

 

Liberty SiriusXM Group

Live Nation

$

(235)

(465)

NA

Sirius XM Canada

4

 

5

 

(3)

Other

(22)

(24)

(21)

Total Liberty SiriusXM Group

(253)

(484)

(24)

Braves Group

Other

30

6

18

Total Braves Group

30

6

18

Formula One Group

Live Nation

 

NA

 

(112)

 

4

Other

 

23

 

4

 

8

Total Formula One Group

23

(108)

12

Consolidated Liberty

$

(200)

 

(586)

 

6

Summarized financial information

Consolidated Balance Sheets

December 31,

December 31,

    

2021

    

2020

    

amounts in millions

Current assets

$

6,684

 

3,650

 

Property, plant and equipment, net

 

1,092

 

1,101

 

Intangible assets

1,395

1,225

Goodwill

 

2,591

 

2,129

 

Other assets

2,640

2,484

Total assets

$

14,402

 

10,589

 

Current liabilities

$

6,856

3,797

Long-term debt, net

5,145

4,855

Other liabilities

2,037

1,799

Redeemable noncontrolling interests

552

272

Equity

(188)

(134)

Total liabilities and equity

$

14,402

10,589

Consolidated Statements of Operations

Years ended December 31,

2021

    

2020

    

2019

amounts in millions

Revenue

$

6,268

 

1,861

 

11,548

Operating expenses:

 

Direct operating expenses

4,356

1,402

8,467

Selling, general and administrative expenses

 

1,755

 

1,524

 

2,145

Depreciation and amortization

416

485

444

Other operating expenses

159

103

167

6,686

 

3,514

 

11,223

Operating income (loss)

(418)

(1,653)

325

Interest expense

(282)

(227)

(158)

Other income (expense), net

89

23

18

Earnings (loss) before income taxes

(611)

(1,857)

185

Income tax (expense) benefit

2

29

(67)

Net earnings (loss)

(609)

(1,828)

118

Less net earnings (loss) attributable to noncontrolling interests

42

(103)

48

Net earnings (loss) attributable to Live Nation stockholders

$

(651)

(1,725)

70