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

Quarterly report [Sections 13 or 15(d)]

Financial Information for Tracking Stock Groups - Statement of Operations (Details)

Financial Information for Tracking Stock Groups - Statement of Operations (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2025	Sep. 30, 2024	Sep. 30, 2025	Sep. 30, 2024
Revenue:
Total revenue	$ 1,085	$ 911	$ 2,873	$ 2,486
Operating expenses:
Selling, general and administrative, including stock-based compensation	140	118	363	310
Depreciation and amortization	118	88	275	263
Acquisition costs	14	3	28	23
Total operating costs and expenses	936	804	2,522	2,229
Operating income (loss)	149	107	351	257
Other income (expense):
Interest expense	(86)	(62)	(198)	(184)
Share of earnings (losses) of affiliates, net	121	116	193	175
Realized and unrealized gains (losses) on financial instruments, net	(160)	(55)	(224)	11
Other, net	(1)	29	105	76
Total other income (expense)	(126)	28	(124)	78
Earnings (loss) from continuing operations before income taxes	23	135	227	335
Income tax (expense) benefit	(10)	(3)	(5)	(41)
Net earnings (loss) from continuing operations	13	132	222	294
Net earnings (loss) from discontinued operations		(3,002)		(2,412)
Net earnings (loss)	13	(2,870)	222	(2,118)
Less net earnings (loss) attributable to noncontrolling interests	0	(502)	0	(410)
Net earnings (loss) attributable to Liberty stockholders	13	(2,368)	222	(1,708)
Formula One Group
Revenue:
Total revenue	1,085	911	2,873	2,486
Operating expenses:
Selling, general and administrative, including stock-based compensation	131	115	343	303
Depreciation and amortization	118	88	275	263
Acquisition costs	14	3	28	23
Total operating costs and expenses	927	801	2,502	2,222
Operating income (loss)	158	110	371	264
Other income (expense):
Interest expense	(79)	(54)	(176)	(162)
Share of earnings (losses) of affiliates, net	(3)	(1)	(8)	(6)
Realized and unrealized gains (losses) on financial instruments, net	17	39	259	86
Other, net	(4)	21	96	56
Total other income (expense)	(69)	5	171	(26)
Earnings (loss) from continuing operations before income taxes	89	115	542	238
Income tax (expense) benefit	(23)	2	(72)	(20)
Net earnings (loss) from continuing operations		117		218
Net earnings (loss)	66	117	470	218
Less net earnings (loss) attributable to noncontrolling interests	0	0	0	0
Net earnings (loss) attributable to Liberty stockholders	66	117	470	218
Liberty Live Group
Operating expenses:
Selling, general and administrative, including stock-based compensation	9	3	20	7
Total operating costs and expenses	9	3	20	7
Operating income (loss)	(9)	(3)	(20)	(7)
Other income (expense):
Interest expense	(7)	(8)	(22)	(22)
Share of earnings (losses) of affiliates, net	124	117	201	181
Realized and unrealized gains (losses) on financial instruments, net	(177)	(94)	(483)	(75)
Other, net	3	8	9	20
Total other income (expense)	(57)	23	(295)	104
Earnings (loss) from continuing operations before income taxes	(66)	20	(315)	97
Income tax (expense) benefit	13	(5)	67	(21)
Net earnings (loss) from continuing operations		15		76
Net earnings (loss)	(53)	15	(248)	76
Less net earnings (loss) attributable to noncontrolling interests	0	0	0	0
Net earnings (loss) attributable to Liberty stockholders	(53)	15	(248)	76
Liberty SiriusXM Group
Other income (expense):
Net earnings (loss) from discontinued operations		(3,002)		(2,412)
Net earnings (loss)		(3,002)		(2,412)
Less net earnings (loss) attributable to noncontrolling interests		(502)		(410)
Net earnings (loss) attributable to Liberty stockholders		(2,500)		(2,002)
Motorsport
Revenue:
Total revenue	1,024	848	2,627	2,251
Operating expenses:
Cost of services	631	554	1,696	1,472
Motorsport \| Formula One Group
Revenue:
Total revenue	1,024	848	2,627	2,251
Operating expenses:
Cost of services	631	554	1,696	1,472
Other
Revenue:
Total revenue	61	63	246	235
Operating expenses:
Cost of services	33	41	160	161
Other \| Formula One Group
Revenue:
Total revenue	61	63	246	235
Operating expenses:
Cost of services	$ 33	$ 41	$ 160	$ 161