Annual report [Section 13 and 15(d), not S-K Item 405]

Consolidated Statements Of Operations

v3.25.4
Consolidated Statements Of Operations - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Revenue:      
Total revenue $ 4,482 $ 3,653 $ 3,572
Operating costs and expenses:      
Selling, general and administrative, including stock-based compensation 514 421 659
Depreciation and amortization 393 352 406
Impairment and acquisition costs 27 105 1
Total operating costs and expenses 3,905 3,366 3,306
Operating income (loss) 577 287 266
Other income (expense):      
Interest expense (249) (208) (234)
Realized and unrealized gains (losses) on financial instruments, net 288 (139) 44
Unrealized gains (losses) on intergroup interests     (68)
Other, net 117 60 89
Total other income (expense) 156 (287) (169)
Earnings (loss) from continuing operations before income taxes 733   97
Income tax (expense) benefit (137) (44) (24)
Net earnings (loss) from continuing operations 596 (44) 73
Net earnings (loss) from discontinued operations (41) (2,431) 889
Net earnings (loss) 555 (2,475) 962
Less net earnings (loss) attributable to the noncontrolling interests   (412) 201
Net earnings (loss) attributable to Liberty stockholders 555 (2,063) 761
Formula One Group      
Other income (expense):      
Net earnings (loss) from continuing operations attributable to Liberty stockholders: $ 603 $ (30) $ 185
Basic net earnings (loss) attributable to Liberty stockholders per common share      
Basic net earnings (loss) from continuing operations attributable to Liberty stockholders per common share $ 2.41 $ (0.13) $ 0.79
Diluted net earnings (loss) attributable to Liberty stockholders per common share:      
Diluted net earnings (loss) from continuing operations attributable to Liberty stockholders per common share $ 2.17 $ (0.13) $ 0.62
Liberty Live Group      
Other income (expense):      
Net earnings (loss) from continuing operations attributable to Liberty stockholders: $ (7) $ (12)  
Net earnings (loss) from discontinued operations attributable to Liberty stockholders: $ (41) $ (19) $ (142)
Basic net earnings (loss) attributable to Liberty stockholders per common share      
Basic net earnings (loss) from continuing operations attributable to Liberty stockholders per common share $ (0.08) $ (0.13)  
Basic net earnings (loss) from discontinued operations attributable to Liberty stockholders per common share (0.45) (0.21) $ (1.54)
Diluted net earnings (loss) attributable to Liberty stockholders per common share:      
Diluted net earnings (loss) from continuing operations attributable to Liberty stockholders per common share (0.08) (0.13)  
Diluted net earnings (loss) from discontinued operations attributable to Liberty stockholders per common share $ (0.45) $ (0.21) $ (1.54)
Liberty SiriusXM Group      
Other income (expense):      
Net earnings (loss) from discontinued operations attributable to Liberty stockholders:   $ (2,002) $ 829
Basic net earnings (loss) attributable to Liberty stockholders per common share      
Basic net earnings (loss) from discontinued operations attributable to Liberty stockholders per common share   $ (6.12) $ 2.54
Diluted net earnings (loss) attributable to Liberty stockholders per common share:      
Diluted net earnings (loss) from discontinued operations attributable to Liberty stockholders per common share   $ (6.16) $ 2.42
Liberty Braves Group      
Other income (expense):      
Net earnings (loss) from continuing operations attributable to Liberty stockholders:     $ (111)
Basic net earnings (loss) attributable to Liberty stockholders per common share      
Basic net earnings (loss) from continuing operations attributable to Liberty stockholders per common share     $ (2.09)
Diluted net earnings (loss) attributable to Liberty stockholders per common share:      
Diluted net earnings (loss) from continuing operations attributable to Liberty stockholders per common share     $ (2.09)
Motorsport      
Revenue:      
Total revenue $ 4,105 $ 3,318 $ 3,222
Operating costs and expenses:      
Cost of services 2,758 2,294 2,240
Other      
Revenue:      
Total revenue 377 335 $ 350
Operating costs and expenses:      
Cost of services $ 213 $ 194