Annual report pursuant to Section 13 and 15(d)

Information About Liberty's Operating Segments (Tables)

v3.22.0.1
Information About Liberty's Operating Segments (Tables)
12 Months Ended
Dec. 31, 2021
Information About Liberty's Operating Segments  
Performance Measures

Years ended December 31,

 

2021

2020

2019

 

    

    

Adjusted

    

    

Adjusted

    

    

Adjusted

 

Revenue

OIBDA

Revenue

OIBDA

Revenue

OIBDA

 

amounts in millions

 

Liberty SiriusXM Group

Sirius XM Holdings

$

8,696

 

2,770

 

8,040

 

2,575

 

7,794

 

2,453

Live Nation

6,268

324

477

(891)

Corporate and other

(15)

(31)

(17)

14,964

3,079

8,517

1,653

7,794

2,436

Eliminate equity method affiliate

(6,268)

(324)

(477)

891

Total Liberty SiriusXM Group

8,696

2,755

8,040

2,544

7,794

2,436

Braves Group

Corporate and other

 

568

 

104

 

178

 

(53)

 

476

 

49

Total Braves Group

568

104

178

(53)

476

49

Formula One Group

Formula 1

2,136

495

1,145

56

2,022

482

Live Nation

NA

NA

1,384

(125)

11,548

943

Corporate and other

(29)

(38)

(36)

2,136

466

2,529

(107)

13,570

1,389

Eliminate equity method affiliate

NA

NA

(1,384)

125

(11,548)

(943)

Total Formula One Group

2,136

466

1,145

18

2,022

446

Total

$

11,400

 

3,325

 

9,363

 

2,509

 

10,292

 

2,931

Other Information By Segment

December 31, 2021

December 31, 2020

 

    

Total

    

Investments

    

Capital

    

Total

    

Investments

    

Capital

 

assets

in affiliates

expenditures

assets

in affiliates

expenditures

 

amounts in millions

 

Liberty SiriusXM Group

Sirius XM Holdings

$

29,812

 

716

 

388

 

30,030

 

723

 

350

Live Nation

14,402

294

176

10,589

170

223

Corporate and other

1,862

89

2,051

163

46,076

1,099

564

42,670

1,056

573

Eliminate equity method affiliate

(14,402)

(294)

(176)

(10,589)

(170)

(223)

Total Liberty SiriusXM Group

31,674

805

388

32,081

886

350

Braves Group

Corporate and other

1,636

110

35

1,571

94

81

Total Braves Group

1,636

110

35

1,571

94

81

Formula One Group

Formula 1

8,819

 

 

17

8,610

 

 

11

Corporate and other

 

2,845

 

30

 

 

2,581

 

38

 

10

Total Formula One Group

11,664

30

17

11,191

38

21

Elimination (1)

(623)

(839)

Consolidated Liberty

$

44,351

 

945

 

440

 

44,004

 

1,018

 

452

(1) As of December 31, 2021 and 2020, this amount includes 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.

As of December 31, 2020, this amount was also 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. During the year ended December 31, 2021, the Liberty SiriusXM Group paid approximately $384 million to the Formula One Group to settle its obligation under the call spread.

Reconciliation of Adjusted OIBDA to operating income (loss) and earnings (loss)

Years ended December 31,

 

    

2021

    

2020

    

2019

 

amounts in millions

 

Adjusted OIBDA

$

3,325

 

2,509

 

2,931

Litigation settlements and reserves (note 18)

16

(25)

Stock-based compensation

 

(256)

 

(261)

 

(291)

Impairment, restructuring and acquisition costs, net of recoveries (notes 5 and 8)

(20)

(1,004)

(84)

Depreciation and amortization

 

(1,072)

 

(1,083)

 

(1,061)

Operating income (loss)

1,977

177

1,470

Interest expense

 

(642)

 

(634)

 

(657)

Share of earnings (losses) of affiliates, net

 

(200)

 

(586)

 

6

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

 

(451)

 

(402)

 

(315)

Gains (losses) on dilution of investment in affiliate

152

4

7

Other, net

 

(47)

 

6

 

2

Earnings (loss) from continuing operations before income taxes

$

789

 

(1,435)

 

513

Revenue by Geographic Area

Years ended December 31,

 

    

2021

    

2020

    

2019

 

amounts in millions

 

United States

$

9,163

 

8,121

 

8,172

United Kingdom

 

2,136

 

1,145

 

2,022

Other

101

97

98

$

11,400

 

9,363

 

10,292

Long-lived Assets by Geographic Area

December 31,

 

    

2021

    

2020

 

amounts in millions

 

United States

$

1,984

 

2,221

United Kingdom

 

26

 

18

$

2,010

 

2,239