| Schedule of performance measures |
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Three months ended September 30, 2026 |
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Reportable |
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Corporate and |
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Formula 1 |
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MotoGP |
|
segments total |
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Other |
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Eliminations |
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Total |
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amounts in millions |
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Revenue: |
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Primary revenue |
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$ |
934 |
|
99 |
|
1,033 |
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— |
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— |
|
1,033 |
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Other revenue |
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|
181 |
|
12 |
|
193 |
|
6 |
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(6) |
|
193 |
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Total revenue |
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|
1,115 |
|
111 |
|
1,226 |
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6 |
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(6) |
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1,226 |
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Operating expenses: |
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Team payments |
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|
(422) |
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— |
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(422) |
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— |
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— |
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(422) |
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Other cost of revenue |
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|
(261) |
|
(55) |
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(316) |
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— |
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6 |
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(310) |
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Selling, general and administrative, excluding stock-based compensation |
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|
(94) |
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(21) |
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(115) |
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(26) |
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— |
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(141) |
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Adjusted OIBDA |
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$ |
338 |
|
35 |
|
373 |
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(20) |
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— |
|
353 |
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Nine months ended September 30, 2026 |
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Reportable |
|
Corporate and |
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|
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|
Formula 1 |
|
MotoGP |
|
segments total |
|
Other |
|
Eliminations |
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Total |
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|
amounts in millions |
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Revenue: |
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Primary revenue |
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$ |
2,052 |
|
332 |
|
2,384 |
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— |
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— |
|
2,384 |
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Other revenue |
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|
444 |
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43 |
|
487 |
|
18 |
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(18) |
|
487 |
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Total revenue |
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|
2,496 |
|
375 |
|
2,871 |
|
18 |
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(18) |
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2,871 |
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Operating expenses: |
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|
|
|
|
|
|
|
|
|
|
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|
Team payments |
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|
(922) |
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— |
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(922) |
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— |
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— |
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(922) |
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Other cost of revenue |
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|
(657) |
|
(189) |
|
(846) |
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— |
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18 |
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(828) |
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Selling, general and administrative, excluding stock-based compensation |
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|
(268) |
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(59) |
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(327) |
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(54) |
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— |
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(381) |
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Adjusted OIBDA |
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$ |
649 |
|
127 |
|
776 |
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(36) |
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— |
|
740 |
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Three months ended September 30, 2025 |
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Reportable |
|
Corporate and |
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|
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|
Formula 1 |
|
MotoGP |
|
segments total |
|
Other |
|
Eliminations |
|
Total |
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|
|
|
amounts in millions |
|
Revenue: |
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|
|
|
|
|
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|
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Primary revenue |
|
$ |
738 |
|
147 |
|
885 |
|
— |
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— |
|
885 |
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Other revenue |
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|
131 |
|
22 |
|
153 |
|
68 |
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(21) |
|
200 |
|
Total revenue |
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|
869 |
|
169 |
|
1,038 |
|
68 |
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(21) |
|
1,085 |
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Operating expenses: |
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|
|
|
|
|
|
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|
|
|
|
|
|
Team payments |
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|
(341) |
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— |
|
(341) |
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— |
|
— |
|
(341) |
|
Other cost of revenue |
|
|
(211) |
|
(84) |
|
(295) |
|
(49) |
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21 |
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(323) |
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Selling, general and administrative, excluding stock-based compensation |
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|
(83) |
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(19) |
|
(102) |
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(22) |
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— |
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(124) |
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Adjusted OIBDA |
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$ |
234 |
|
66 |
|
300 |
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(3) |
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— |
|
297 |
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Nine months ended September 30, 2025 |
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|
Reportable |
|
Corporate and |
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|
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|
Formula 1 |
|
MotoGP |
|
segments total |
|
Other |
|
Eliminations |
|
Total |
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|
amounts in millions |
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Revenue: |
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|
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|
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|
|
|
|
|
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Primary revenue |
|
$ |
2,089 |
|
147 |
|
2,236 |
|
— |
|
— |
|
2,236 |
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Other revenue |
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|
409 |
|
22 |
|
431 |
|
266 |
|
(60) |
|
637 |
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Total revenue |
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2,498 |
|
169 |
|
2,667 |
|
266 |
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(60) |
|
2,873 |
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Operating expenses: |
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|
|
|
|
|
|
|
|
|
|
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|
|
Team payments |
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|
(968) |
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— |
|
(968) |
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— |
|
— |
|
(968) |
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Other cost of revenue |
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|
(613) |
|
(84) |
|
(697) |
|
(201) |
|
60 |
|
(838) |
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Selling, general and administrative, excluding stock-based compensation |
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|
(237) |
|
(19) |
|
(256) |
|
(72) |
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— |
|
(328) |
|
Adjusted OIBDA |
|
$ |
680 |
|
66 |
|
746 |
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(7) |
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— |
|
739 |
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| Schedule of reconciliation of adjusted OIBDA to operating income (loss) and earnings (loss) from continuing operations before income taxes |
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Three months ended |
|
Nine months ended |
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|
|
September 30, |
|
September 30, |
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|
|
2026 |
|
2025 |
|
2026 |
|
2025 |
|
|
|
|
amounts in millions |
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Adjusted OIBDA |
|
$ |
353 |
|
297 |
|
740 |
|
739 |
|
Concorde incentive payments |
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|
— |
|
— |
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— |
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(50) |
|
Acquisition costs |
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|
— |
|
(14) |
|
— |
|
(28) |
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Stock-based compensation |
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|
(6) |
|
(7) |
|
(17) |
|
(15) |
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Depreciation and amortization |
|
|
(110) |
|
(118) |
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(334) |
|
(275) |
|
Operating income (loss) |
|
|
237 |
|
158 |
|
389 |
|
371 |
|
Interest expense |
|
|
(69) |
|
(79) |
|
(205) |
|
(176) |
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Realized and unrealized gains (losses) on financial instruments, net |
|
|
66 |
|
16 |
|
122 |
|
251 |
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Other, net |
|
|
10 |
|
(9) |
|
29 |
|
90 |
|
Earnings (loss) from continuing operations before income taxes |
|
$ |
244 |
|
86 |
|
335 |
|
536 |
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