Information About Liberty's Operating Segments (Tables)
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12 Months Ended |
Dec. 31, 2023 |
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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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2023 |
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2022 |
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2021 |
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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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$ |
8,953 |
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2,774 |
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9,003 |
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2,833 |
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8,696 |
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2,770 |
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Live Nation |
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11,475 |
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1,188 |
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16,681 |
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1,407 |
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6,268 |
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324 |
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Corporate and other |
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— |
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(42) |
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— |
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(26) |
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— |
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(15) |
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Eliminate equity method affiliate |
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(11,475) |
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(1,188) |
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(16,681) |
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(1,407) |
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(6,268) |
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(324) |
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Total Liberty SiriusXM Group |
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8,953 |
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2,732 |
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9,003 |
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2,807 |
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8,696 |
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2,755 |
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Formula One Group |
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Formula 1 |
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3,222 |
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725 |
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2,573 |
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593 |
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2,136 |
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495 |
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Corporate and other |
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15 |
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(39) |
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— |
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(42) |
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— |
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(29) |
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Intergroup elimination |
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(15) |
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— |
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— |
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— |
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— |
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— |
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Total Formula One Group |
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3,222 |
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686 |
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2,573 |
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551 |
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2,136 |
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466 |
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Liberty Live Group |
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Live Nation |
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11,274 |
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674 |
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NA |
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NA |
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NA |
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NA |
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Corporate and other |
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— |
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(9) |
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NA |
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NA |
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NA |
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NA |
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Eliminate equity method affiliate |
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(11,274) |
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(674) |
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NA |
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NA |
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NA |
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NA |
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Total Liberty Live Group |
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— |
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(9) |
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NA |
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NA |
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NA |
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NA |
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Braves Group |
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Corporate and other |
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350 |
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14 |
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588 |
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61 |
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568 |
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104 |
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Total Braves Group |
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350 |
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14 |
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588 |
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61 |
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568 |
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104 |
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Total |
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$ |
12,525 |
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3,423 |
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12,164 |
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3,419 |
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11,400 |
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3,325 |
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| Other Information By Segment |
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December 31, 2023 |
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December 31, 2022 |
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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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|
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Sirius XM Holdings |
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$ |
29,801 |
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707 |
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650 |
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29,501 |
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665 |
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426 |
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Live Nation |
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NA |
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NA |
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NA |
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16,461 |
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409 |
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377 |
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Corporate and other |
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|
100 |
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8 |
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— |
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978 |
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158 |
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— |
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Eliminate equity method affiliate |
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NA |
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NA |
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NA |
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(16,461) |
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(409) |
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(377) |
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Total Liberty SiriusXM Group |
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29,901 |
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715 |
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650 |
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30,479 |
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823 |
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426 |
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Formula One Group |
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Formula 1 |
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9,057 |
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2 |
|
112 |
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8,980 |
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— |
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38 |
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Corporate and other |
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|
1,236 |
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39 |
|
314 |
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2,036 |
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34 |
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253 |
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Intergroup elimination |
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(26) |
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— |
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— |
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— |
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— |
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— |
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Total Formula One Group |
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10,267 |
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41 |
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426 |
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11,016 |
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34 |
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291 |
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Liberty Live Group |
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Live Nation |
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19,074 |
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447 |
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469 |
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NA |
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NA |
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NA |
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Corporate and other |
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1,162 |
|
333 |
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— |
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NA |
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NA |
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NA |
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Eliminate equity method affiliate |
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(19,074) |
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(447) |
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(469) |
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NA |
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NA |
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NA |
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Total Liberty Live Group |
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1,162 |
|
333 |
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— |
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NA |
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NA |
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NA |
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Braves Group |
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Corporate and other |
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NA |
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NA |
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35 |
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1,477 |
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95 |
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18 |
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Total Braves Group |
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NA |
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NA |
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35 |
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1,477 |
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95 |
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18 |
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Elimination (1) |
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(162) |
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— |
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— |
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(508) |
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— |
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— |
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Consolidated Liberty |
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$ |
41,168 |
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1,089 |
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1,111 |
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42,464 |
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952 |
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735 |
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| (1) |
As of December 31, 2022, this amount included the intergroup interests in the Braves Group previously held by the Formula One Group and the Liberty SiriusXM Group and the intergroup interest in the Formula One Group previously 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 were presented as assets of the Formula One Group and Liberty SiriusXM Group, respectively, and were presented as liabilities of the Braves Group in the attributed financial statements. The Formula One Group intergroup interest attributable to the Liberty SiriusXM Group was presented as an asset of the Liberty SiriusXM Group and was presented as a liability of the Formula One Group in the attributed financial statements. The offsetting amounts between tracking stock groups were eliminated in consolidation.
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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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2023 |
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2022 |
|
2021 |
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amounts in millions |
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Adjusted OIBDA |
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$ |
3,423 |
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3,419 |
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3,325 |
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Stock-based compensation |
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(232) |
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(237) |
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(256) |
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Depreciation and amortization |
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(1,030) |
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(1,044) |
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(1,072) |
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Impairment, restructuring and acquisition costs, net of recoveries (notes 5 and 8) |
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(67) |
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(74) |
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(20) |
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Litigation settlements, net of recoveries (note 17) |
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(31) |
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— |
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— |
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Operating income (loss) |
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2,063 |
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2,064 |
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1,977 |
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Interest expense |
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(782) |
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(689) |
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(642) |
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Share of earnings (losses) of affiliates, net |
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|
138 |
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99 |
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(200) |
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Realized and unrealized gains (losses) on financial instruments, net |
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(323) |
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599 |
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(451) |
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Gains (losses) on dilution of investment in affiliate |
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(4) |
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10 |
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152 |
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Other, net |
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|
93 |
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110 |
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(47) |
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Earnings (loss) before income taxes |
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$ |
1,185 |
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2,193 |
|
789 |
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| Revenue by Geographic Area |
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Years ended December 31, |
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|
2023 |
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2022 |
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2021 |
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amounts in millions |
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United States |
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$ |
9,199 |
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9,480 |
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9,163 |
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United Kingdom |
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3,222 |
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2,573 |
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2,136 |
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Other |
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|
104 |
|
111 |
|
101 |
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$ |
12,525 |
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12,164 |
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11,400 |
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| Long-lived Assets by Geographic Area |
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December 31, |
|
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2023 |
|
2022 |
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amounts in millions |
|
United States |
|
$ |
2,001 |
|
2,208 |
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United Kingdom |
|
|
82 |
|
47 |
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$ |
2,083 |
|
2,255 |
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