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Quarterly report pursuant to Section 13 or 15(d)

Assets And Liabilities Measured At Fair Value (Tables)

v3.10.0.1
Assets And Liabilities Measured At Fair Value (Tables)
9 Months Ended
Sep. 30, 2018
Assets and Liabilities Measured at Fair Value Ìý
Assets and Liabilities Measured at Fair Value

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FairÌýValueÌýMeasurementsÌýat

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FairÌýValueÌýMeasurementsÌýat

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September 30, 2018

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December 31, 2017

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Quoted

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prices

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prices

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inÌýactive

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inÌýactive

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markets

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other

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markets

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other

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forÌýidentical

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observable

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forÌýidentical

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observable

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assets

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inputs

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assets

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inputs

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Description

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Total

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(LevelÌý1)

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(LevelÌý2)

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Total

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(LevelÌý1)

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(LevelÌý2)

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amountsÌýinÌýmillions

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Cash equivalents

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$

221

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221

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Ìý—

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804

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804

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Ìý—

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Debt and equity securities

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$

1,326

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276

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1,050

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1,047

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467

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580

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Financial instrument assets

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$

495

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23

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472

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369

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19

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350

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Debt

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$

2,388

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Ìý—

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2,388

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2,115

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Ìý—

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2,115

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Realized and Unrealized Gains (Losses) on Financial Instruments

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Three months endedÌý

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Nine months ended

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September 30,

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September 30,

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2018

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2017

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2018

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2017

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amountsÌýinÌýmillions

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Debt and equity securities

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$

(25)

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56

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133

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76

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Debt measured at fair value (a)

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26

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(42)

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(77)

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(236)

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Change in fair value of bond hedges (b)

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(41)

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Ìý6

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76

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130

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Other derivatives

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Ìý9

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(2)

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48

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(13)

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$

(31)

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18

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180

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(43)

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(a)

Changes in unrealized gains (losses) on debt measured at fair value are due to market factors primarily driven by changes in the fair value of the underlying shares into which the debt is exchangeable.

(b)

Contemporaneously with the issuance of Liberty’s 1.375% Cash Convertible Notes due 2023, Liberty entered into privately negotiated cash convertible note hedges, which are expected to offset potential cash payments Liberty would be required to make in excess of the principal amount of Liberty’s 1.375% Cash Convertible Notes due 2023, upon conversion of the notes. The bond hedges are marked to market based on the trading price of underlying Series A Liberty SiriusXM, Liberty Braves and Liberty Formula One securities and other observable market data as the significant inputs (Level 2). See note 11 for additional discussion of the bond hedges.