Quarterly report [Sections 13 or 15(d)]

Investments in Affiliates Accounted for Using the Equity Method (Tables)

v3.25.2
Investments in Affiliates Accounted for Using the Equity Method (Tables)
6 Months Ended
Jun. 30, 2025
Schedule Of equity ownership and carrying amount

June 30, 2025

December 31, 2024

    

Percentage

    

Fair Value

    

Carrying

    

Carrying

 

ownership

(Level 1)

amount

amount

dollar amounts in millions

Formula One Group

Other

 

various

 

NA

$

33

 

33

Total Formula One Group

33

33

Liberty Live Group

Live Nation

30

%

$

10,536

557

430

Other

NA

32

28

Total Liberty Live Group

589

458

Consolidated Liberty

$

622

 

491

Schedule of liberty's share of earnings (losses) of affiliates

Three months ended

Six months ended

June 30,

June 30,

    

2025

    

2024

    

2025

    

2024

 

amounts in millions

Formula One Group

Other

$

(2)

 

(2)

 

(5)

 

(5)

Total Formula One Group

(2)

(2)

(5)

(5)

Liberty Live Group

Live Nation

69

83

73

63

Other

4

2

4

1

Total Liberty Live Group

73

85

77

64

Consolidated Liberty

$

71

 

83

 

72

 

59

Live Nation  
Summarized financial information

    

June 30, 2025

    

December 31, 2024

    

amounts in millions

Current assets

$

11,823

 

9,290

 

Property, plant and equipment, net

 

2,949

 

2,442

 

Intangible assets

1,461

1,366

Goodwill

 

2,821

 

2,621

 

Investments in affiliates

484

504

Other assets

3,612

3,416

Total assets

$

23,150

 

19,639

 

Current liabilities

$

13,458

9,358

Long-term debt, net

4,991

6,177

Other liabilities

2,395

2,159

Redeemable noncontrolling interests

1,378

1,126

Equity

928

819

Total liabilities and equity

$

23,150

19,639

Three months ended

Six months ended

June 30,

June 30,

2025

    

2024

    

2025

2024

amounts in millions

Revenue

$

7,007

 

6,023

 

10,389

9,823

Operating expenses:

 

Direct operating expenses

5,211

4,408

7,466

7,060

Selling, general and administrative expenses

 

1,003

 

926

 

1,782

1,908

Depreciation and amortization

159

138

308

270

Other operating expenses

147

85

232

161

6,520

 

5,557

 

9,788

9,399

Operating income (loss)

487

466

601

424

Interest expense

(72)

(80)

(152)

(161)

Other income (expense), net

5

70

37

192

Earnings (loss) before income taxes

420

456

486

455

Income tax (expense) benefit

(117)

(80)

(137)

(121)

Net earnings (loss)

303

376

349

334

Less net earnings (loss) attributable to noncontrolling interests

60

78

82

91

Net earnings (loss) attributable to Live Nation stockholders

$

243

298

267

243