Liberty Media Corporation Quarterly report [Sections 13 or 15(d)]

Quarterly report [Sections 13 or 15(d)]

Information About Liberty's Operating Segments (Tables)

Information About Liberty's Operating Segments (Tables)

6 Months Ended

Jun. 30, 2025

Information About Liberty's Operating Segments

Schedule of performance measures


		Three months ended June 30, 2025
					Corporate and
		Formula One			Other		Eliminations		Total

		amounts in millions
Revenue:
Primary revenue		$	1,032		—		—		1,032
Other revenue			194		145		(30)		309
Total revenue			1,226		145		(30)		1,341
Operating expenses:
Team payments, excluding Concorde incentive payments			(513)		—		—		(513)
Other cost of revenue			(274)		(110)		30		(354)
Selling, general and administrative, excluding stock-based compensation			(78)		(32)		—		(110)
Adjusted OIBDA		$	361		3		—		364


		Six months ended June 30, 2025
					Corporate and
		Formula One			Other		Eliminations		Total

		amounts in millions
Revenue:
Primary revenue		$	1,351		—		—		1,351
Other revenue			278		198		(39)		437
Total revenue			1,629		198		(39)		1,788
Operating expenses:
Team payments, excluding Concorde incentive payments			(627)		—		—		(627)
Other cost of revenue			(402)		(152)		39		(515)
Selling, general and administrative, excluding stock-based compensation			(154)		(59)		—		(213)
Adjusted OIBDA		$	446		(13)		—		433


		Three months ended June 30, 2024
					Corporate and
		Formula One			Other		Eliminations		Total

		amounts in millions
Revenue:
Primary revenue		$	739		—		—		739
Other revenue			132		141		(24)		249
Total revenue			871		141		(24)		988
Operating expenses:
Team payments			(435)		—		—		(435)
Other cost of revenue			(210)		(112)		24		(298)
Selling, general and administrative, excluding stock-based compensation			(66)		(25)		—		(91)
Adjusted OIBDA		$	160		4		—		164


		Six months ended June 30, 2024
					Corporate and
		Formula One			Other		Eliminations		Total

		amounts in millions
Revenue:
Primary revenue		$	1,202		—		—		1,202
Other revenue			222		185		(34)		373
Total revenue			1,424		185		(34)		1,575
Operating expenses:
Team payments			(598)		—		—		(598)
Other cost of revenue			(333)		(141)		34		(440)
Selling, general and administrative, excluding stock-based compensation			(125)		(47)		—		(172)
Adjusted OIBDA		$	368		(3)		—		365

Schedule of other information by segment


		June 30, 2025
		Total			Investments
		assets			in affiliates

		amounts in millions
Formula One Group
Formula 1		$	9,661		2
Corporate and other			2,974		31
Intergroup elimination			(150)		—
Total Formula One Group			12,485		33
Liberty Live Group
Corporate and other			1,371		589
Total Liberty Live Group			1,371		589
Elimination			(35)		—
Consolidated Liberty		$	13,821		622

Schedule Of reconciliation of adjusted OIBDA to operating income (loss) and earnings (loss) from continuing operations before income taxes


		Three months ended					Six months ended
		June 30,					June 30,
		2025			2024		2025		2024

		amounts in millions
Adjusted OIBDA		$	364		164		433		365
Concorde incentive payments			—		—		(50)		—
Acquisition costs			(3)		(11)		(14)		(20)
Stock-based compensation			(8)		(7)		(10)		(20)
Depreciation and amortization			(80)		(89)		(157)		(175)
Operating income (loss)			273		57		202		150
Interest expense			(57)		(60)		(112)		(122)
Share of earnings (losses) of affiliates, net			71		83		72		59
Realized and unrealized gains (losses) on financial instruments, net			(129)		87		(64)		66
Other, net			70		26		106		47
Earnings (loss) from continuing operations before income taxes		$	228		193		204		200