Information jvidÊÓƵ Liberty's Operating Segments (Tables)
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9 Months Ended |
Sep. 30, 2019 |
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| Information jvidÊÓƵ Liberty's Operating Segments |
Ìý
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| Schedule of revenue disaggregated by source |
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Three months ended |
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Nine months ended |
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September 30, |
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September 30, |
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​ |
ÌýÌýÌýÌý |
2019 |
ÌýÌýÌýÌý |
2018 |
ÌýÌýÌýÌý |
2019 |
ÌýÌýÌýÌý |
2018 |
Ìý |
​ |
​ |
amountsÌýinÌýmillions |
​ |
Liberty SiriusXM Group |
​ |
​ |
​ |
Ìý |
​ |
Ìý |
​ |
Ìý |
​ |
​ |
SIRIUS XM Holdings: |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Subscriber |
​ |
$ |
1,556 |
​ |
1,341 |
​ |
4,551 |
Ìý |
3,903 |
​ |
Advertising |
​ |
Ìý |
366 |
​ |
46 |
​ |
933 |
Ìý |
135 |
​ |
Equipment |
​ |
​ |
45 |
​ |
41 |
​ |
127 |
​ |
113 |
​ |
Other |
​ |
​ |
44 |
​ |
40 |
​ |
121 |
​ |
124 |
​ |
Total Liberty SiriusXM Group |
​ |
​ |
2,011 |
​ |
1,468 |
​ |
5,732 |
​ |
4,275 |
​ |
Braves Group |
​ |
Ìý |
​ |
Ìý |
​ |
Ìý |
​ |
Ìý |
​ |
​ |
Corporate and other: |
​ |
Ìý |
​ |
Ìý |
​ |
Ìý |
​ |
Ìý |
​ |
​ |
Baseball |
​ |
Ìý |
203 |
Ìý |
190 |
Ìý |
415 |
Ìý |
382 |
​ |
Development |
​ |
Ìý |
9 |
Ìý |
10 |
Ìý |
27 |
Ìý |
28 |
​ |
Total Braves Group |
​ |
​ |
212 |
​ |
200 |
​ |
442 |
​ |
410 |
​ |
Formula One Group |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Formula 1: |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Primary |
​ |
​ |
553 |
​ |
560 |
​ |
1,282 |
​ |
1,136 |
​ |
Other |
​ |
​ |
80 |
​ |
87 |
​ |
217 |
​ |
210 |
​ |
Total Formula One Group |
​ |
​ |
633 |
​ |
647 |
​ |
1,499 |
​ |
1,346 |
​ |
Consolidated Liberty |
​ |
$ |
2,856 |
Ìý |
2,315 |
Ìý |
7,673 |
Ìý |
6,031 |
​ |
​
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| Adjusted OIBDA by segment |
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|
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​ |
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Three months ended |
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Nine months ended |
​ |
​ |
​ |
September 30, |
​ |
September 30, |
​ |
​ |
ÌýÌýÌýÌý |
2019 |
ÌýÌýÌýÌý |
2018 |
ÌýÌýÌýÌý |
2019 |
ÌýÌýÌýÌý |
2018 |
Ìý |
​ |
​ |
amountsÌýinÌýmillions |
​ |
Liberty SiriusXM Group |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
SIRIUS XM Holdings |
​ |
$ |
659 |
Ìý |
587 |
Ìý |
1,871 |
Ìý |
1,659 |
​ |
Corporate and other |
​ |
Ìý |
(4) |
Ìý |
(4) |
Ìý |
(10) |
Ìý |
(15) |
​ |
Total Liberty SiriusXM Group |
​ |
Ìý |
655 |
Ìý |
583 |
Ìý |
1,861 |
Ìý |
1,644 |
​ |
Braves Group |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Corporate and other |
​ |
Ìý |
45 |
Ìý |
72 |
Ìý |
73 |
Ìý |
100 |
​ |
Total Braves Group |
​ |
Ìý |
45 |
Ìý |
72 |
Ìý |
73 |
Ìý |
100 |
​ |
Formula One Group |
​ |
Ìý |
​ |
​ |
​ |
​ |
​ |
Ìý |
​ |
​ |
Formula 1 |
​ |
Ìý |
162 |
Ìý |
158 |
Ìý |
372 |
Ìý |
295 |
​ |
Corporate and other |
​ |
​ |
(8) |
​ |
(2) |
​ |
(23) |
​ |
(12) |
​ |
Total Formula One Group |
​ |
​ |
154 |
​ |
156 |
​ |
349 |
​ |
283 |
​ |
Consolidated Liberty |
​ |
$ |
854 |
Ìý |
811 |
Ìý |
2,283 |
Ìý |
2,027 |
​ |
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| Other Information By Segment |
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September 30, 2019 |
​ |
​ |
ÌýÌýÌýÌý |
Total |
ÌýÌýÌýÌý |
Investments |
ÌýÌýÌýÌý |
Capital |
Ìý |
​ |
​ |
assets |
​ |
inÌýaffiliates |
​ |
expenditures |
​ |
​ |
​ |
amountsÌýinÌýmillions |
​ |
Liberty SiriusXM Group |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
SIRIUS XM Holdings |
​ |
$ |
30,804 |
Ìý |
638 |
Ìý |
239 |
​ |
Corporate and other |
​ |
​ |
200 |
​ |
— |
​ |
— |
​ |
Total Liberty SiriusXM Group |
​ |
​ |
31,004 |
​ |
638 |
​ |
239 |
​ |
Braves Group |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Corporate and other |
​ |
​ |
1,594 |
​ |
104 |
​ |
72 |
​ |
Total Braves Group |
​ |
​ |
1,594 |
​ |
104 |
​ |
72 |
​ |
Formula One Group |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Formula 1 |
​ |
​ |
9,136 |
​ |
— |
​ |
13 |
​ |
Corporate and other |
​ |
Ìý |
2,225 |
Ìý |
956 |
Ìý |
14 |
​ |
Total Formula One Group |
​ |
​ |
11,361 |
​ |
956 |
​ |
27 |
​ |
Elimination (1) |
​ |
​ |
(314) |
​ |
— |
​ |
— |
​ |
Consolidated Liberty |
​ |
$ |
43,645 |
Ìý |
1,698 |
Ìý |
338 |
​ |
|
(1) |
This is primarily the intergroup interest in the Braves Group held by the Formula One Group, as discussed in note 2. The intergroup interest attributable to the Formula One Group is presented as an asset and the intergroup interest attributable to the Braves Group is presented as a liability in the attributed financial statements and the offsetting amounts between tracking stock groups are eliminated in consolidation. |
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| Reconciliation of segment Adjusted OIBDA to earnings (loss) from continuing operations before income tax |
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​ |
​ |
Three months ended |
​ |
Nine months ended |
​ |
​ |
​ |
September 30, |
​ |
September 30, |
​ |
​ |
ÌýÌýÌýÌý |
2019 |
ÌýÌýÌýÌý |
2018 |
ÌýÌýÌýÌý |
2019 |
ÌýÌýÌýÌý |
2018 |
Ìý |
​ |
​ |
amountsÌýinÌýmillions |
​ |
Adjusted OIBDA |
​ |
$ |
854 |
Ìý |
811 |
Ìý |
2,283 |
Ìý |
2,027 |
​ |
Legal settlement (note 11) |
​ |
​ |
— |
​ |
— |
​ |
(25) |
​ |
(69) |
​ |
Stock-based compensation |
​ |
Ìý |
(76) |
Ìý |
(46) |
Ìý |
(217) |
Ìý |
(145) |
​ |
Acquisition and other related costs (note 3) |
​ |
​ |
— |
​ |
— |
​ |
(83) |
​ |
— |
​ |
Depreciation and amortization |
​ |
Ìý |
(271) |
Ìý |
(234) |
Ìý |
(790) |
Ìý |
(681) |
​ |
Operating income (loss) |
​ |
​ |
507 |
​ |
531 |
​ |
1,168 |
​ |
1,132 |
​ |
Interest expense |
​ |
Ìý |
(169) |
Ìý |
(150) |
Ìý |
(495) |
Ìý |
(453) |
​ |
Share of earnings (losses) of affiliates, net |
​ |
Ìý |
55 |
Ìý |
58 |
Ìý |
69 |
Ìý |
72 |
​ |
Realized and unrealized gains (losses) on financial instruments, net |
​ |
Ìý |
14 |
Ìý |
(31) |
Ìý |
(171) |
Ìý |
180 |
​ |
Other, net |
​ |
Ìý |
(47) |
Ìý |
10 |
Ìý |
(18) |
Ìý |
37 |
​ |
Earnings (loss) before income taxes |
​ |
$ |
360 |
Ìý |
418 |
Ìý |
553 |
Ìý |
968 |
​ |
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