| Financial Information for Tracking Stock Groups |
BALANCE SHEET INFORMATION
December 31, 2016
(unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Attributed (note 1)
|
|
|
|
|
|
|
|
|
Liberty
|
|
|
|
|
|
|
|
|
|
|
|
|
SiriusXM
|
|
Braves
|
|
Formula One
|
|
Inter-Group
|
|
Consolidated
|
|
|
|
|
Group
|
|
Group
|
|
Group
|
|
Eliminations
|
|
Liberty
|
|
|
|
|
amounts in millions
|
|
|
Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current assets:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents
|
|
$
|
287
|
|
107
|
|
168
|
|
—
|
|
562
|
|
|
Trade and other receivables, net
|
|
|
223
|
|
15
|
|
2
|
|
—
|
|
240
|
|
|
Other current assets
|
|
|
206
|
|
17
|
|
5
|
|
(1)
|
|
227
|
|
|
Total current assets
|
|
|
716
|
|
139
|
|
175
|
|
(1)
|
|
1,029
|
|
|
Intergroup interest in the Braves Group (note 2)
|
|
|
—
|
|
—
|
|
187
|
|
(187)
|
|
—
|
|
|
Investments in available-for-sale securities and other cost investments (note 3)
|
|
|
—
|
|
8
|
|
1,301
|
|
—
|
|
1,309
|
|
|
Investments in affiliates, accounted for using the equity method (note 4)
|
|
|
164
|
|
61
|
|
892
|
|
—
|
|
1,117
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Property and equipment, at cost
|
|
|
2,079
|
|
943
|
|
160
|
|
—
|
|
3,182
|
|
|
Accumulated depreciation
|
|
|
(746)
|
|
(13)
|
|
(71)
|
|
—
|
|
(830)
|
|
|
|
|
|
1,333
|
|
930
|
|
89
|
|
—
|
|
2,352
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Intangible assets not subject to amortization
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Goodwill
|
|
|
14,165
|
|
180
|
|
—
|
|
—
|
|
14,345
|
|
|
FCC licenses
|
|
|
8,600
|
|
—
|
|
—
|
|
—
|
|
8,600
|
|
|
Other
|
|
|
930
|
|
143
|
|
—
|
|
—
|
|
1,073
|
|
|
|
|
|
23,695
|
|
323
|
|
—
|
|
—
|
|
24,018
|
|
|
Intangible assets subject to amortization, net
|
|
|
998
|
|
73
|
|
1
|
|
—
|
|
1,072
|
|
|
Other assets
|
|
|
145
|
|
14
|
|
350
|
|
(29)
|
|
480
|
|
|
Total assets
|
|
$
|
27,051
|
|
1,548
|
|
2,995
|
|
(217)
|
|
31,377
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Liabilities and Equity
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current liabilities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Intergroup payable (receivable) (note 7)
|
|
$
|
5
|
|
(17)
|
|
12
|
|
—
|
|
—
|
|
|
Accounts payable and accrued liabilities
|
|
|
827
|
|
141
|
|
17
|
|
—
|
|
985
|
|
|
Current portion of debt (note 5)
|
|
|
5
|
|
—
|
|
—
|
|
—
|
|
5
|
|
|
Deferred revenue
|
|
|
1,833
|
|
44
|
|
—
|
|
—
|
|
1,877
|
|
|
Other current liabilities
|
|
|
3
|
|
—
|
|
3
|
|
(1)
|
|
5
|
|
|
Total current liabilities
|
|
|
2,673
|
|
168
|
|
32
|
|
(1)
|
|
2,872
|
|
|
Long-term debt (note 5)
|
|
|
6,102
|
|
328
|
|
1,583
|
|
—
|
|
8,013
|
|
|
Deferred income tax liabilities
|
|
|
1,967
|
|
48
|
|
39
|
|
(29)
|
|
2,025
|
|
|
Redeemable intergroup interest (note 2)
|
|
|
—
|
|
187
|
|
—
|
|
(187)
|
|
—
|
|
|
Other liabilities
|
|
|
278
|
|
417
|
|
56
|
|
—
|
|
751
|
|
|
Total liabilities
|
|
|
11,020
|
|
1,148
|
|
1,710
|
|
(217)
|
|
13,661
|
|
|
Equity / Attributed net assets
|
|
|
10,085
|
|
385
|
|
1,286
|
|
—
|
|
11,756
|
|
|
Noncontrolling interests in equity of subsidiaries
|
|
|
5,946
|
|
15
|
|
(1)
|
|
—
|
|
5,960
|
|
|
Total liabilities and equity
|
|
$
|
27,051
|
|
1,548
|
|
2,995
|
|
(217)
|
|
31,377
|
|
BALANCE SHEET INFORMATION
December 31, 2015
(unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Attributed (note 1)
|
|
|
|
|
|
|
|
|
Liberty
|
|
|
|
|
|
|
|
|
|
|
|
|
SiriusXM
|
|
Braves
|
|
Formula One
|
|
Inter-Group
|
|
Consolidated
|
|
|
|
|
Group
|
|
Group
|
|
Group
|
|
Eliminations
|
|
Liberty
|
|
|
|
|
amounts in millions
|
|
|
Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current assets:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents
|
|
$
|
112
|
|
13
|
|
76
|
|
—
|
|
201
|
|
|
Trade and other receivables, net
|
|
|
235
|
|
9
|
|
3
|
|
—
|
|
247
|
|
|
Other current assets
|
|
|
215
|
|
10
|
|
18
|
|
—
|
|
243
|
|
|
Total current assets
|
|
|
562
|
|
32
|
|
97
|
|
—
|
|
691
|
|
|
Investments in available-for-sale securities and other cost investments (note 3)
|
|
|
—
|
|
8
|
|
525
|
|
—
|
|
533
|
|
|
Investments in affiliates, accounted for using the equity method (note 4)
|
|
|
153
|
|
39
|
|
923
|
|
—
|
|
1,115
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Property and equipment, at cost
|
|
|
1,984
|
|
406
|
|
197
|
|
—
|
|
2,587
|
|
|
Accumulated depreciation
|
|
|
(571)
|
|
(44)
|
|
(93)
|
|
—
|
|
(708)
|
|
|
|
|
|
1,413
|
|
362
|
|
104
|
|
—
|
|
1,879
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Intangible assets not subject to amortization
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Goodwill
|
|
|
14,165
|
|
180
|
|
—
|
|
—
|
|
14,345
|
|
|
FCC licenses
|
|
|
8,600
|
|
—
|
|
—
|
|
—
|
|
8,600
|
|
|
Other
|
|
|
930
|
|
143
|
|
—
|
|
—
|
|
1,073
|
|
|
|
|
|
23,695
|
|
323
|
|
—
|
|
—
|
|
24,018
|
|
|
Intangible assets subject to amortization, net
|
|
|
1,027
|
|
70
|
|
—
|
|
—
|
|
1,097
|
|
|
Other assets
|
|
|
151
|
|
15
|
|
303
|
|
(4)
|
|
465
|
|
|
Total assets
|
|
$
|
27,001
|
|
849
|
|
1,952
|
|
(4)
|
|
29,798
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Liabilities and Equity
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current liabilities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Intergroup payable (receivable) (note 7)
|
|
$
|
116
|
|
25
|
|
(141)
|
|
—
|
|
—
|
|
|
Accounts payable and accrued liabilities
|
|
|
717
|
|
24
|
|
17
|
|
—
|
|
758
|
|
|
Current portion of debt (note 5)
|
|
|
255
|
|
—
|
|
—
|
|
—
|
|
255
|
|
|
Deferred revenue
|
|
|
1,769
|
|
28
|
|
—
|
|
—
|
|
1,797
|
|
|
Other current liabilities
|
|
|
3
|
|
—
|
|
—
|
|
—
|
|
3
|
|
|
Total current liabilities
|
|
|
2,860
|
|
77
|
|
(124)
|
|
—
|
|
2,813
|
|
|
Long-term debt (note 5)
|
|
|
5,454
|
|
139
|
|
1,033
|
|
—
|
|
6,626
|
|
|
Deferred income tax liabilities
|
|
|
1,622
|
|
49
|
|
—
|
|
(4)
|
|
1,667
|
|
|
Other liabilities
|
|
|
268
|
|
233
|
|
60
|
|
—
|
|
561
|
|
|
Total liabilities
|
|
|
10,204
|
|
498
|
|
969
|
|
(4)
|
|
11,667
|
|
|
Equity / Attributed net assets
|
|
|
9,599
|
|
351
|
|
983
|
|
—
|
|
10,933
|
|
|
Noncontrolling interests in equity of subsidiaries
|
|
|
7,198
|
|
—
|
|
—
|
|
—
|
|
7,198
|
|
|
Total liabilities and equity
|
|
$
|
27,001
|
|
849
|
|
1,952
|
|
(4)
|
|
29,798
|
|
STATEMENT OF OPERATIONS INFORMATION
December 31, 2016
(unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Attributed (note 1)
|
|
|
|
|
|
|
Liberty
|
|
|
|
|
|
|
|
|
|
|
SiriusXM
|
|
Braves
|
|
Formula One
|
|
Consolidated
|
|
|
|
|
Group
|
|
Group
|
|
Group
|
|
Liberty
|
|
|
|
|
amounts in millions
|
|
|
Revenue:
|
|
|
|
|
|
|
|
|
|
|
|
Subscriber revenue
|
|
$
|
4,194
|
|
—
|
|
—
|
|
4,194
|
|
|
Other revenue
|
|
|
820
|
|
262
|
|
—
|
|
1,082
|
|
|
Total revenue
|
|
|
5,014
|
|
262
|
|
—
|
|
5,276
|
|
|
Operating costs and expenses, including stock-based compensation (note 6):
|
|
|
|
|
|
|
|
|
|
|
|
Cost of subscriber services (exclusive of depreciation shown separately below):
|
|
|
|
|
|
|
|
|
|
|
|
Revenue share and royalties
|
|
|
1,109
|
|
—
|
|
—
|
|
1,109
|
|
|
Programming and content
|
|
|
354
|
|
—
|
|
—
|
|
354
|
|
|
Customer service and billing
|
|
|
387
|
|
—
|
|
—
|
|
387
|
|
|
Other
|
|
|
144
|
|
—
|
|
—
|
|
144
|
|
|
Subscriber acquisition costs
|
|
|
513
|
|
—
|
|
—
|
|
513
|
|
|
Other operating expenses
|
|
|
82
|
|
224
|
|
—
|
|
306
|
|
|
Selling, general and administrative
|
|
|
761
|
|
67
|
|
58
|
|
886
|
|
|
Legal settlement, net
|
|
|
—
|
|
—
|
|
(511)
|
|
(511)
|
|
|
Depreciation and amortization
|
|
|
312
|
|
32
|
|
10
|
|
354
|
|
|
|
|
|
3,662
|
|
323
|
|
(443)
|
|
3,542
|
|
|
Operating income (loss)
|
|
|
1,352
|
|
(61)
|
|
443
|
|
1,734
|
|
|
Other income (expense):
|
|
|
|
|
|
|
|
|
|
|
|
Interest expense
|
|
|
(342)
|
|
(1)
|
|
(19)
|
|
(362)
|
|
|
Share of earnings (losses) of affiliates, net
|
|
|
13
|
|
9
|
|
(8)
|
|
14
|
|
|
Unrealized gain/(loss) on inter-group interest
|
|
|
—
|
|
(27)
|
|
27
|
|
—
|
|
|
Realized and unrealized gains (losses) on financial instruments, net
|
|
|
—
|
|
1
|
|
36
|
|
37
|
|
|
Other, net
|
|
|
(25)
|
|
—
|
|
21
|
|
(4)
|
|
|
|
|
|
(354)
|
|
(18)
|
|
57
|
|
(315)
|
|
|
Earnings (loss) before income taxes
|
|
|
998
|
|
(79)
|
|
500
|
|
1,419
|
|
|
Income tax (expense) benefit
|
|
|
(341)
|
|
17
|
|
(171)
|
|
(495)
|
|
|
Net earnings (loss)
|
|
|
657
|
|
(62)
|
|
329
|
|
924
|
|
|
Less net earnings (loss) attributable to the noncontrolling interests
|
|
|
244
|
|
—
|
|
—
|
|
244
|
|
|
Net earnings (loss) attributable to Liberty stockholders
|
|
$
|
413
|
|
(62)
|
|
329
|
|
680
|
|
STATEMENT OF OPERATIONS INFORMATION
December 31, 2015
(unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Attributed (note 1)
|
|
|
|
|
|
|
Liberty
|
|
|
|
|
|
|
|
|
|
|
SiriusXM
|
|
Braves
|
|
Formula One
|
|
Consolidated
|
|
|
|
|
Group
|
|
Group
|
|
Group
|
|
Liberty
|
|
|
|
|
amounts in millions
|
|
|
Revenue:
|
|
|
|
|
|
|
|
|
|
|
|
Subscriber revenue
|
|
$
|
3,807
|
|
—
|
|
—
|
|
3,807
|
|
|
Other revenue
|
|
|
745
|
|
243
|
|
—
|
|
988
|
|
|
Total revenue
|
|
|
4,552
|
|
243
|
|
—
|
|
4,795
|
|
|
Operating costs and expenses, including stock-based compensation (note 6):
|
|
|
|
|
|
|
|
|
|
|
|
Cost of subscriber services (exclusive of depreciation shown separately below):
|
|
|
|
|
|
|
|
|
|
|
|
Revenue share and royalties
|
|
|
1,035
|
|
—
|
|
—
|
|
1,035
|
|
|
Programming and content
|
|
|
267
|
|
—
|
|
—
|
|
267
|
|
|
Customer service and billing
|
|
|
380
|
|
—
|
|
—
|
|
380
|
|
|
Other
|
|
|
141
|
|
—
|
|
—
|
|
141
|
|
|
Subscriber acquisition costs
|
|
|
533
|
|
—
|
|
—
|
|
533
|
|
|
Other operating expenses
|
|
|
73
|
|
189
|
|
—
|
|
262
|
|
|
Selling, general and administrative
|
|
|
728
|
|
61
|
|
72
|
|
861
|
|
|
Depreciation and amortization
|
|
|
322
|
|
31
|
|
9
|
|
362
|
|
|
|
|
|
3,479
|
|
281
|
|
81
|
|
3,841
|
|
|
Operating income (loss)
|
|
|
1,073
|
|
(38)
|
|
(81)
|
|
954
|
|
|
Other income (expense):
|
|
|
|
|
|
|
|
|
|
|
|
Interest expense
|
|
|
(307)
|
|
(1)
|
|
(20)
|
|
(328)
|
|
|
Share of earnings (losses) of affiliates, net
|
|
|
(1)
|
|
9
|
|
(48)
|
|
(40)
|
|
|
Realized and unrealized gains (losses) on financial instruments, net
|
|
|
—
|
|
—
|
|
(140)
|
|
(140)
|
|
|
Other, net
|
|
|
—
|
|
—
|
|
12
|
|
12
|
|
|
|
|
|
(308)
|
|
8
|
|
(196)
|
|
(496)
|
|
|
Earnings (loss) before income taxes
|
|
|
765
|
|
(30)
|
|
(277)
|
|
458
|
|
|
Income tax (expense) benefit
|
|
|
(322)
|
|
10
|
|
102
|
|
(210)
|
|
|
Net earnings (loss)
|
|
|
443
|
|
(20)
|
|
(175)
|
|
248
|
|
|
Less net earnings (loss) attributable to the noncontrolling interests
|
|
|
184
|
|
—
|
|
—
|
|
184
|
|
|
Net earnings (loss) attributable to Liberty stockholders
|
|
$
|
259
|
|
(20)
|
|
(175)
|
|
64
|
|
STATEMENT OF OPERATIONS INFORMATION
December 31, 2014
(unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Attributed (note 1)
|
|
|
|
|
|
|
Liberty
|
|
|
|
|
|
|
|
|
|
|
SiriusXM
|
|
Braves
|
|
Formula One
|
|
Consolidated
|
|
|
|
|
Group
|
|
Group
|
|
Group
|
|
Liberty
|
|
|
|
|
amounts in millions
|
|
|
Revenue:
|
|
|
|
|
|
|
|
|
|
|
|
Subscriber revenue
|
|
$
|
3,514
|
|
—
|
|
—
|
|
3,514
|
|
|
Other revenue
|
|
|
627
|
|
250
|
|
59
|
|
936
|
|
|
Total revenue
|
|
|
4,141
|
|
250
|
|
59
|
|
4,450
|
|
|
Operating costs and expenses, including stock-based compensation (note 6):
|
|
|
|
|
|
|
|
|
|
|
|
Cost of subscriber services (exclusive of depreciation shown separately below):
|
|
|
|
|
|
|
|
|
|
|
|
Revenue share and royalties
|
|
|
810
|
|
—
|
|
—
|
|
810
|
|
|
Programming and content
|
|
|
262
|
|
—
|
|
—
|
|
262
|
|
|
Customer service and billing
|
|
|
373
|
|
—
|
|
—
|
|
373
|
|
|
Other
|
|
|
135
|
|
—
|
|
—
|
|
135
|
|
|
Subscriber acquisition costs
|
|
|
493
|
|
—
|
|
—
|
|
493
|
|
|
Other operating expenses
|
|
|
71
|
|
210
|
|
23
|
|
304
|
|
|
Selling, general and administrative
|
|
|
679
|
|
58
|
|
136
|
|
873
|
|
|
Depreciation and amortization
|
|
|
314
|
|
29
|
|
16
|
|
359
|
|
|
|
|
|
3,137
|
|
297
|
|
175
|
|
3,609
|
|
|
Operating income (loss)
|
|
|
1,004
|
|
(47)
|
|
(116)
|
|
841
|
|
|
Other income (expense):
|
|
|
|
|
|
|
|
|
|
|
|
Interest expense
|
|
|
(234)
|
|
—
|
|
(21)
|
|
(255)
|
|
|
Share of earnings (losses) of affiliates, net
|
|
|
5
|
|
10
|
|
(128)
|
|
(113)
|
|
|
Realized and unrealized gains (losses) on financial instruments, net
|
|
|
—
|
|
—
|
|
38
|
|
38
|
|
|
Other, net
|
|
|
—
|
|
—
|
|
(50)
|
|
(50)
|
|
|
|
|
|
(229)
|
|
10
|
|
(161)
|
|
(380)
|
|
|
Earnings (loss) before income taxes
|
|
|
775
|
|
(37)
|
|
(277)
|
|
461
|
|
|
Income tax (expense) benefit
|
|
|
(327)
|
|
13
|
|
248
|
|
(66)
|
|
|
Net earnings (loss)
|
|
|
448
|
|
(24)
|
|
(29)
|
|
395
|
|
|
Less net earnings (loss) attributable to the noncontrolling interests
|
|
|
217
|
|
—
|
|
—
|
|
217
|
|
|
Net earnings (loss) attributable to Liberty stockholders
|
|
$
|
231
|
|
(24)
|
|
(29)
|
|
178
|
|
STATEMENT OF CASH FLOWS INFORMATION
December 31, 2016
(unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Attributed (note 1)
|
|
|
|
|
|
|
Liberty
|
|
|
|
|
|
|
|
|
|
|
SiriusXM
|
|
Braves
|
|
Formula One
|
|
Consolidated
|
|
|
|
|
Group
|
|
Group
|
|
Group
|
|
Liberty
|
|
|
|
|
amounts in millions
|
|
|
Cash flows from operating activities:
|
|
|
|
|
|
|
|
|
|
|
|
Net earnings (loss)
|
|
$
|
657
|
|
(62)
|
|
329
|
|
924
|
|
|
Adjustments to reconcile net earnings to net cash provided by operating activities:
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation and amortization
|
|
|
312
|
|
32
|
|
10
|
|
354
|
|
|
Stock-based compensation
|
|
|
128
|
|
9
|
|
13
|
|
150
|
|
|
Share of (earnings) loss of affiliates, net
|
|
|
(13)
|
|
(9)
|
|
8
|
|
(14)
|
|
|
Unrealized (gains) losses on intergroup interest, net
|
|
|
—
|
|
27
|
|
(27)
|
|
—
|
|
|
Realized and unrealized (gains) losses on financial instruments, net
|
|
|
—
|
|
(1)
|
|
(36)
|
|
(37)
|
|
|
Noncash interest expense
|
|
|
6
|
|
5
|
|
—
|
|
11
|
|
|
Losses (gains) on dilution of investment in affiliate
|
|
|
—
|
|
—
|
|
—
|
|
—
|
|
|
Loss on early extinguishment of debt
|
|
|
24
|
|
—
|
|
—
|
|
24
|
|
|
Deferred income tax expense (benefit)
|
|
|
332
|
|
1
|
|
94
|
|
427
|
|
|
Intergroup tax allocation
|
|
|
(13)
|
|
(19)
|
|
32
|
|
—
|
|
|
Intergroup tax (payments) receipts
|
|
|
7
|
|
7
|
|
(14)
|
|
—
|
|
|
Other charges (credits), net
|
|
|
21
|
|
11
|
|
(2)
|
|
30
|
|
|
Changes in operating assets and liabilities
|
|
|
|
|
|
|
|
|
|
|
|
Current and other assets
|
|
|
59
|
|
(17)
|
|
(17)
|
|
25
|
|
|
Payables and other liabilities
|
|
|
184
|
|
105
|
|
(12)
|
|
277
|
|
|
Net cash provided (used) by operating activities
|
|
|
1,704
|
|
89
|
|
378
|
|
2,171
|
|
|
Cash flows from investing activities:
|
|
|
|
|
|
|
|
|
|
|
|
Cash proceeds from dispositions of investments
|
|
|
—
|
|
—
|
|
62
|
|
62
|
|
|
Proceeds (payments) from settlement of financial instruments, net
|
|
|
—
|
|
—
|
|
(1)
|
|
(1)
|
|
|
Investments in and loans to cost and equity investees
|
|
|
—
|
|
(20)
|
|
(764)
|
|
(784)
|
|
|
Repayment of loans and other cash receipts from cost and equity investees
|
|
|
—
|
|
—
|
|
48
|
|
48
|
|
|
Capital expended for property and equipment
|
|
|
(206)
|
|
(360)
|
|
(2)
|
|
(568)
|
|
|
Purchases of short term investments and other marketable securities
|
|
|
—
|
|
—
|
|
(258)
|
|
(258)
|
|
|
Sales of short term investments and other marketable securities
|
|
|
—
|
|
—
|
|
273
|
|
273
|
|
|
Other investing activities, net
|
|
|
(4)
|
|
(33)
|
|
1
|
|
(36)
|
|
|
Net cash provided (used) by investing activities
|
|
|
(210)
|
|
(413)
|
|
(641)
|
|
(1,264)
|
|
|
Cash flows from financing activities:
|
|
|
|
|
|
|
|
|
|
|
|
Borrowings of debt
|
|
|
1,847
|
|
460
|
|
438
|
|
2,745
|
|
|
Repayments of debt
|
|
|
(1,471)
|
|
(276)
|
|
(2)
|
|
(1,749)
|
|
|
Intergroup (payments) receipts
|
|
|
58
|
|
16
|
|
(74)
|
|
—
|
|
|
Shares repurchased by subsidiary
|
|
|
(1,674)
|
|
—
|
|
—
|
|
(1,674)
|
|
|
Braves Rights Offering
|
|
|
—
|
|
203
|
|
—
|
|
203
|
|
|
Taxes paid in lieu of shares issued for stock-based compensation
|
|
|
(47)
|
|
—
|
|
(11)
|
|
(58)
|
|
|
Other financing activities, net
|
|
|
(32)
|
|
15
|
|
4
|
|
(13)
|
|
|
Net cash provided (used) by financing activities
|
|
|
(1,319)
|
|
418
|
|
355
|
|
(546)
|
|
|
Net increase (decrease) in cash and cash equivalents
|
|
|
175
|
|
94
|
|
92
|
|
361
|
|
|
Cash and cash equivalents at beginning of period
|
|
|
112
|
|
13
|
|
76
|
|
201
|
|
|
Cash and cash equivalents at end of period
|
|
$
|
287
|
|
107
|
|
168
|
|
562
|
|
STATEMENT OF CASH FLOWS INFORMATION
December 31, 2015
(unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Attributed (note 1)
|
|
|
|
|
|
|
Liberty
|
|
|
|
|
|
|
|
|
|
|
SiriusXM
|
|
Braves
|
|
Formula One
|
|
Consolidated
|
|
|
|
|
Group
|
|
Group
|
|
Group
|
|
Liberty
|
|
|
|
|
amounts in millions
|
|
|
Cash flows from operating activities:
|
|
|
|
|
|
|
|
|
|
|
|
Net earnings (loss)
|
|
$
|
443
|
|
(20)
|
|
(175)
|
|
248
|
|
|
Adjustments to reconcile net earnings to net cash provided by operating activities:
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation and amortization
|
|
|
322
|
|
31
|
|
9
|
|
362
|
|
|
Stock-based compensation
|
|
|
157
|
|
10
|
|
37
|
|
204
|
|
|
Share of (earnings) loss of affiliates, net
|
|
|
1
|
|
(9)
|
|
48
|
|
40
|
|
|
Realized and unrealized (gains) losses on financial instruments, net
|
|
|
—
|
|
—
|
|
140
|
|
140
|
|
|
Noncash interest expense
|
|
|
6
|
|
—
|
|
—
|
|
6
|
|
|
Losses (gains) on dilution of investments in affiliate
|
|
|
—
|
|
—
|
|
1
|
|
1
|
|
|
Deferred income tax expense (benefit)
|
|
|
290
|
|
(6)
|
|
(109)
|
|
175
|
|
|
Intergroup tax allocation
|
|
|
(4)
|
|
(4)
|
|
8
|
|
—
|
|
|
Intergroup tax (payments) receipts
|
|
|
—
|
|
1
|
|
(1)
|
|
—
|
|
|
Other charges (credits), net
|
|
|
15
|
|
—
|
|
4
|
|
19
|
|
|
Changes in operating assets and liabilities
|
|
|
|
|
|
|
|
|
|
|
|
Current and other assets
|
|
|
(220)
|
|
9
|
|
3
|
|
(208)
|
|
|
Payables and other liabilities
|
|
|
212
|
|
33
|
|
—
|
|
245
|
|
|
Net cash provided (used) by operating activities
|
|
|
1,222
|
|
45
|
|
(35)
|
|
1,232
|
|
|
Cash flows from investing activities:
|
|
|
|
|
|
|
|
|
|
|
|
Cash proceeds from dispositions of investments
|
|
|
—
|
|
24
|
|
151
|
|
175
|
|
|
Proceeds (payments) from settlement of financial instruments, net
|
|
|
—
|
|
—
|
|
(322)
|
|
(322)
|
|
|
Investments in and loans to cost and equity investments
|
|
|
—
|
|
—
|
|
(19)
|
|
(19)
|
|
|
Capital expended for property and equipment
|
|
|
(135)
|
|
(128)
|
|
(33)
|
|
(296)
|
|
|
Purchases of short term investments and other marketable securities
|
|
|
—
|
|
—
|
|
(174)
|
|
(174)
|
|
|
Sales of short term investments and other marketable securities
|
|
|
—
|
|
—
|
|
358
|
|
358
|
|
|
Other investing activities, net
|
|
|
—
|
|
(9)
|
|
1
|
|
(8)
|
|
|
Net cash provided (used) by investing activities
|
|
|
(135)
|
|
(113)
|
|
(38)
|
|
(286)
|
|
|
Cash flows from financing activities:
|
|
|
|
|
|
|
|
|
|
|
|
Borrowings of debt
|
|
|
1,978
|
|
197
|
|
38
|
|
2,213
|
|
|
Repayments of debt
|
|
|
(1,038)
|
|
(158)
|
|
—
|
|
(1,196)
|
|
|
Intergroup (payments) receipts
|
|
|
9
|
|
31
|
|
(40)
|
|
—
|
|
|
Repurchases of Liberty common stock
|
|
|
—
|
|
—
|
|
(350)
|
|
(350)
|
|
|
Shares repurchased by subsidiary
|
|
|
(2,018)
|
|
—
|
|
—
|
|
(2,018)
|
|
|
Taxes paid in lieu of shares issued for stock-based compensation
|
|
|
(54)
|
|
—
|
|
(26)
|
|
(80)
|
|
|
Other financing activities, net
|
|
|
—
|
|
—
|
|
5
|
|
5
|
|
|
Net cash provided (used) by financing activities
|
|
|
(1,123)
|
|
70
|
|
(373)
|
|
(1,426)
|
|
|
Net increase (decrease) in cash and cash equivalents
|
|
|
(36)
|
|
2
|
|
(446)
|
|
(480)
|
|
|
Cash and cash equivalents at beginning of period
|
|
|
148
|
|
11
|
|
522
|
|
681
|
|
|
Cash and cash equivalents at end of period
|
|
$
|
112
|
|
13
|
|
76
|
|
201
|
|
STATEMENT OF CASH FLOWS INFORMATION
December 31, 2014
(unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Attributed (note 1)
|
|
|
|
|
|
|
Liberty
|
|
|
|
|
|
|
|
|
|
|
SiriusXM
|
|
Braves
|
|
Formula One
|
|
Consolidated
|
|
|
|
|
Group
|
|
Group
|
|
Group
|
|
Liberty
|
|
|
|
|
amounts in millions
|
|
|
Cash flows from operating activities:
|
|
|
|
|
|
|
|
|
|
|
|
Net earnings (loss)
|
|
$
|
448
|
|
(24)
|
|
(29)
|
|
395
|
|
|
Adjustments to reconcile net earnings to net cash provided by operating activities:
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation and amortization
|
|
|
314
|
|
29
|
|
16
|
|
359
|
|
|
Stock-based compensation
|
|
|
148
|
|
12
|
|
57
|
|
217
|
|
|
Share of (earnings) loss of affiliates, net
|
|
|
(5)
|
|
(10)
|
|
128
|
|
113
|
|
|
Realized and unrealized (gains) losses on financial instruments, net
|
|
|
—
|
|
—
|
|
(38)
|
|
(38)
|
|
|
Noncash interest expense
|
|
|
(35)
|
|
—
|
|
1
|
|
(34)
|
|
|
Losses (gains) on dilution of investment in affiliate
|
|
|
2
|
|
—
|
|
76
|
|
78
|
|
|
Deferred income tax expense (benefit)
|
|
|
284
|
|
(7)
|
|
(186)
|
|
91
|
|
|
Intergroup tax allocation
|
|
|
30
|
|
(5)
|
|
(25)
|
|
—
|
|
|
Intergroup tax (payments) receipts
|
|
|
—
|
|
(10)
|
|
10
|
|
—
|
|
|
Other charges (credits), net
|
|
|
19
|
|
(27)
|
|
(4)
|
|
(12)
|
|
|
Changes in operating assets and liabilities
|
|
|
|
|
|
|
|
|
|
|
|
Current and other assets
|
|
|
(20)
|
|
(53)
|
|
(1)
|
|
(74)
|
|
|
Payables and other liabilities
|
|
|
57
|
|
11
|
|
(35)
|
|
33
|
|
|
Net cash provided (used) by operating activities
|
|
|
1,242
|
|
(84)
|
|
(30)
|
|
1,128
|
|
|
Cash flows from investing activities:
|
|
|
|
|
|
|
|
|
|
|
|
Cash (paid) for acquisitions, net of cash acquired
|
|
|
2
|
|
—
|
|
(49)
|
|
(47)
|
|
|
Cash proceeds from dispositions of investments
|
|
|
—
|
|
—
|
|
247
|
|
247
|
|
|
Proceeds (payments) from settlement of financial instruments, net
|
|
|
—
|
|
—
|
|
(72)
|
|
(72)
|
|
|
Investments in and loans to cost and equity investees
|
|
|
—
|
|
—
|
|
(183)
|
|
(183)
|
|
|
Repayment of loans and other cash receipts from cost and equity investees
|
|
|
32
|
|
10
|
|
—
|
|
42
|
|
|
Capital expended for property and equipment
|
|
|
(126)
|
|
(66)
|
|
(2)
|
|
(194)
|
|
|
Purchases of short term investments and other marketable securities
|
|
|
—
|
|
—
|
|
(360)
|
|
(360)
|
|
|
Sales of short term investments and other marketable securities
|
|
|
—
|
|
—
|
|
176
|
|
176
|
|
|
Other investing activities, net
|
|
|
—
|
|
(6)
|
|
(14)
|
|
(20)
|
|
|
Net cash provided (used) by investing activities
|
|
|
(92)
|
|
(62)
|
|
(257)
|
|
(411)
|
|
|
Cash flows from financing activities:
|
|
|
|
|
|
|
|
|
|
|
|
Borrowings of debt
|
|
|
2,658
|
|
100
|
|
—
|
|
2,758
|
|
|
Repayments of debt
|
|
|
(1,266)
|
|
—
|
|
(670)
|
|
(1,936)
|
|
|
Intergroup (payments) receipts
|
|
|
(335)
|
|
—
|
|
335
|
|
—
|
|
|
Cash provided by the Broadband Spin-Off
|
|
|
—
|
|
—
|
|
259
|
|
259
|
|
|
Shares repurchased by subsidiary
|
|
|
(2,157)
|
|
—
|
|
—
|
|
(2,157)
|
|
|
Taxes paid in lieu of shares issued for stock-based compensation
|
|
|
(37)
|
|
—
|
|
(11)
|
|
(48)
|
|
|
Net cash provided (used) by financing activities
|
|
|
(1,137)
|
|
100
|
|
(87)
|
|
(1,124)
|
|
|
Net increase (decrease) in cash and cash equivalents
|
|
|
13
|
|
(46)
|
|
(374)
|
|
(407)
|
|
|
Cash and cash equivalents at beginning of period
|
|
|
135
|
|
57
|
|
896
|
|
1,088
|
|
|
Cash and cash equivalents at end of period
|
|
$
|
148
|
|
11
|
|
522
|
|
681
|
|
|