Information About Liberty's Operating Segments (Tables)
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12 Months Ended |
Dec. 31, 2021 |
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| Information About Liberty's Operating Segments |
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| Performance Measures |
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Years ended December 31, |
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2021 |
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2020 |
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2019 |
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Adjusted |
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Adjusted |
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Adjusted |
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Revenue |
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OIBDA |
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Revenue |
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OIBDA |
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Revenue |
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OIBDA |
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amounts in millions |
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Liberty SiriusXM Group |
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Sirius XM Holdings |
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$ |
8,696 |
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2,770 |
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8,040 |
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2,575 |
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7,794 |
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2,453 |
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Live Nation |
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6,268 |
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324 |
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477 |
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(891) |
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— |
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— |
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Corporate and other |
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— |
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(15) |
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— |
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(31) |
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— |
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(17) |
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14,964 |
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3,079 |
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8,517 |
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1,653 |
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7,794 |
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2,436 |
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Eliminate equity method affiliate |
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(6,268) |
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(324) |
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(477) |
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891 |
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— |
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— |
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Total Liberty SiriusXM Group |
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8,696 |
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2,755 |
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8,040 |
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2,544 |
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7,794 |
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2,436 |
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Braves Group |
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Corporate and other |
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568 |
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104 |
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178 |
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(53) |
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476 |
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49 |
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Total Braves Group |
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568 |
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104 |
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178 |
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(53) |
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476 |
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49 |
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Formula One Group |
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Formula 1 |
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2,136 |
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495 |
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1,145 |
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56 |
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2,022 |
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482 |
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Live Nation |
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NA |
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NA |
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1,384 |
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(125) |
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11,548 |
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943 |
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Corporate and other |
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— |
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(29) |
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— |
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(38) |
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— |
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(36) |
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2,136 |
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466 |
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2,529 |
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(107) |
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13,570 |
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1,389 |
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Eliminate equity method affiliate |
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NA |
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NA |
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(1,384) |
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125 |
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(11,548) |
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(943) |
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Total Formula One Group |
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2,136 |
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466 |
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1,145 |
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18 |
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2,022 |
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446 |
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Total |
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$ |
11,400 |
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3,325 |
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9,363 |
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2,509 |
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10,292 |
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2,931 |
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| Other Information By Segment |
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December 31, 2021 |
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December 31, 2020 |
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Total |
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Investments |
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Capital |
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Total |
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Investments |
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Capital |
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assets |
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in affiliates |
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expenditures |
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assets |
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in affiliates |
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expenditures |
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amounts in millions |
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Liberty SiriusXM Group |
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Sirius XM Holdings |
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$ |
29,812 |
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716 |
|
388 |
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30,030 |
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723 |
|
350 |
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Live Nation |
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14,402 |
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294 |
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176 |
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10,589 |
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170 |
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223 |
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Corporate and other |
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1,862 |
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89 |
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— |
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2,051 |
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163 |
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— |
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46,076 |
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1,099 |
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564 |
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42,670 |
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1,056 |
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573 |
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Eliminate equity method affiliate |
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(14,402) |
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(294) |
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(176) |
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(10,589) |
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(170) |
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(223) |
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Total Liberty SiriusXM Group |
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31,674 |
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805 |
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388 |
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32,081 |
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886 |
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350 |
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Braves Group |
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Corporate and other |
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1,636 |
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110 |
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35 |
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1,571 |
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94 |
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81 |
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Total Braves Group |
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1,636 |
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110 |
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35 |
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1,571 |
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94 |
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81 |
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Formula One Group |
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Formula 1 |
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8,819 |
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— |
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17 |
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8,610 |
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— |
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11 |
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Corporate and other |
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2,845 |
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30 |
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— |
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2,581 |
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38 |
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10 |
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Total Formula One Group |
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11,664 |
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30 |
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17 |
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11,191 |
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38 |
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21 |
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Elimination (1) |
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(623) |
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— |
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— |
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(839) |
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— |
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— |
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Consolidated Liberty |
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$ |
44,351 |
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945 |
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440 |
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44,004 |
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1,018 |
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452 |
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| (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 $384 million to the Formula One Group to settle its obligation under the call spread.
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| Reconciliation of Adjusted OIBDA to operating income (loss) and earnings (loss) |
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Years ended December 31, |
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2021 |
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2020 |
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2019 |
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amounts in millions |
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Adjusted OIBDA |
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$ |
3,325 |
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2,509 |
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2,931 |
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Litigation settlements and reserves (note 18) |
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— |
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16 |
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(25) |
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Stock-based compensation |
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(256) |
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(261) |
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(291) |
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Impairment, restructuring and acquisition costs, net of recoveries (notes 5 and 8) |
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(20) |
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(1,004) |
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(84) |
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Depreciation and amortization |
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(1,072) |
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(1,083) |
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(1,061) |
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Operating income (loss) |
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1,977 |
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177 |
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1,470 |
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Interest expense |
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(642) |
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(634) |
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(657) |
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Share of earnings (losses) of affiliates, net |
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(200) |
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(586) |
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6 |
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Realized and unrealized gains (losses) on financial instruments, net |
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(451) |
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(402) |
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(315) |
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Gains (losses) on dilution of investment in affiliate |
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|
152 |
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4 |
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7 |
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Other, net |
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(47) |
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6 |
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2 |
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Earnings (loss) from continuing operations before income taxes |
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$ |
789 |
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(1,435) |
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513 |
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| Revenue by Geographic Area |
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Years ended December 31, |
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2021 |
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2020 |
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2019 |
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amounts in millions |
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United States |
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$ |
9,163 |
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8,121 |
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8,172 |
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United Kingdom |
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2,136 |
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1,145 |
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2,022 |
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Other |
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|
101 |
|
97 |
|
98 |
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$ |
11,400 |
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9,363 |
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10,292 |
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| Long-lived Assets by Geographic Area |
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December 31, |
|
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2021 |
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2020 |
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amounts in millions |
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United States |
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$ |
1,984 |
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2,221 |
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United Kingdom |
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26 |
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18 |
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$ |
2,010 |
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2,239 |
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