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

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

Discontinued Operations (Tables)

Discontinued Operations (Tables)

12 Months Ended

Dec. 31, 2025

Schedule of certain financial information for Live Nation


	December 31, 2024
	amounts in millions
Current assets	$	9,290
Total assets	$	19,639
Current liabilities	$	9,358
Total liabilities	$	17,694
Redeemable noncontrolling interests	$	1,126
Equity	$	819


	Years ended December 31,
	2024		2023

	amounts in millions
Revenue	$	23,156	22,726
Operating income (loss)	$	825	1,085
Net earnings (loss)	$	1,131	704
Net earnings (loss) attributable to Live Nation stockholders	$	896	557

Schedule of balance sheet and income statement of discontinued operations


		December 31, 2024
		amounts in millions
Assets
Current assets		$	326
Investments in affiliates, accounted for using the equity method			430
Deferred income tax assets			235
Total assets		$	991

Liabilities
Long-term debt		$	1,556
Other liabilities			1
Total liabilities		$	1,557


	Years ended December 31,
	2025		2024	2023

	amounts in millions
Revenue	$	—	6,004	8,953
Cost of Sirius XM Holdings services (exclusive of depreciation shown separately below)		—	2,852	4,209
Operating expense		—	461	681
Selling, general and administrative		35	1,041	1,545
Impairment, restructuring and acquisition costs		—	3,339	66
Depreciation and amortization		—	421	624
Litigation settlements, net of recoveries		—	—	31
		35	8,114	7,156
Operating income (loss)		(35)	(2,110)	1,797
Other income (expense):
Interest expense		(28)	(378)	(548)
Share of earnings (losses) of affiliates, net		143	236	148
Realized and unrealized gains (losses) on financial instruments, net		(141)	(244)	(211)
Other, net		12	146	(98)
		(14)	(240)	(709)
Earnings (loss) from discontinued operations before income taxes		(49)	(2,350)	1,088
Income tax (expense) benefit		8	(81)	(199)
Net earnings (loss) from discontinued operations		(41)	(2,431)	889
Less net earnings (loss) from discontinued operations attributable to the noncontrolling interests		—	(410)	202
Net earnings (loss) from discontinued operations attributable to Liberty stockholders	$	(41)	(2,021)	687

- Definition

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

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+ Details