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

Information About Liberty's Operating Segments (Tables)

v3.25.4
Information About Liberty's Operating Segments (Tables)
12 Months Ended
Dec. 31, 2025
Information About Liberty's Operating Segments  
Schedule of performance measures

Year ended December 31, 2025

  ​ ​ ​

  ​ ​ ​

Reportable

Corporate and

  ​ ​ ​

Formula One

MotoGP

segments total

Other

Eliminations

Total

amounts in millions

Revenue

$

3,873

325

4,198

414

(130)

4,482

Operating expenses

 

 

 

Team payments, excluding Concorde incentive payments

(1,400)

(1,400)

(1,400)

Other cost of revenue

(1,181)

(162)

(1,343)

(308)

130

(1,521)

Selling, general and administrative, excluding stock-based compensation

(346)

(46)

(392)

(101)

(493)

Adjusted OIBDA

$

946

117

1,063

5

1,068

Year ended December 31, 2024

  ​ ​ ​

  ​ ​ ​

Corporate and

  ​ ​ ​

  ​ ​ ​

Formula One

Other

Eliminations

Total

amounts in millions

Revenue

$

3,411

373

(131)

3,653

Operating expenses

 

 

 

Team payments

(1,266)

(1,266)

Other cost of revenue

(1,066)

(194)

38

(1,222)

Selling, general and administrative, excluding stock-based compensation

(288)

(196)

93

(391)

Adjusted OIBDA

$

791

(17)

774

Year ended December 31, 2023

  ​ ​ ​

  ​ ​ ​

Corporate and

  ​ ​ ​

  ​ ​ ​

Formula One

Other

Eliminations

Total

amounts in millions

Revenue

$

3,222

366

(16)

3,572

Operating expenses

 

 

 

Team payments

(1,215)

(1,215)

Other cost of revenue

(1,041)

16

(1,025)

Selling, general and administrative, excluding stock-based compensation

(241)

(391)

(632)

Adjusted OIBDA

$

725

(25)

700

Schedule of other information by segment

December 31,

2025

2024

amounts in millions

Formula 1

$

8,161

 

9,159

 

MotoGP

6,277

Corporate and other

 

1,548

 

2,833

 

Elimination

(588)

18

Assets of discontinued operations

991

Total assets

$

15,398

 

13,001

 

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

Years ended December 31,

 

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

2023

 

amounts in millions

 

Adjusted OIBDA

$

1,068

 

774

 

700

Stock-based compensation

 

(21)

 

(30)

 

(27)

Depreciation and amortization

 

(393)

 

(352)

 

(406)

Concorde incentive payments

(50)

Impairment and acquisition costs

(27)

(105)

(1)

Operating income (loss)

577

287

266

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

Earnings (loss) from continuing operations before income taxes

$

733

 

 

97

Revenue by Geographic Area

Years ended December 31,

 

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

2023

 

amounts in millions

 

United Kingdom

$

3,782

 

3,318

 

3,222

United States

378

 

335

 

350

Spain

310

Other

12

$

4,482

 

3,653

 

3,572

Long-lived Assets by Geographic Area

December 31,

 

  ​ ​ ​

2025

  ​ ​ ​

2024

 

amounts in millions

 

United States

$

691

 

730

United Kingdom

 

161

 

80

Spain

15

Other

1

$

868

 

810