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Annual report pursuant to Section 13 and 15(d)

Acquisitions (Tables)

v3.19.3.a.u2
Acquisitions (Tables)
12 Months Ended
Dec. 31, 2019
Pandora Ìý
Schedule of consideration paid with the acquisition

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​

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Pandora common stock outstanding at January 31, 2019

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272

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Exchange ratio

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1.44

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Sirius XM Holdings common stock issued

​

392

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Price per share of Sirius XM Holdings common stock as of January 31, 2019

$

5.83

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Value of Sirius XM Holdings common stock issued to Pandora stockholders pursuant to the transactions

​

2,285

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Value of Sirius XM Holdings replacement equity awards attributable to pre-combination service

​

70

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Sirius XM Holdings' Pandora preferred stock investment cancelled

​

524

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Total consideration

$

2,879

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Schedule of Purchase Price Allocation

The final acquisition price allocation for Pandora is as follows (in millions):

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​

​

​

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Cash and cash equivalents

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$

313

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Trade and other receivables, net

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​

353

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Other current assets

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​

109

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Property and equipment

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​

41

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Goodwill

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​

1,553

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Intangible assets not subject to amortization

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​

331

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Intangible assets subject to amortization, net

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​

800

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Other assets

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​

213

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Accounts payable and accrued liabilities

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​

(324)

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Current portion of debt

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​

(151)

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Deferred revenue

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​

(37)

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Other current liabilities

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​

(28)

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Long-term debt (a)

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(218)

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Other liabilities

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(76)

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​

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$

2,879

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(a) In order to present the assets acquired and liabilities assumed, the conversion feature associated with Pandora’s convertible notes for $62 million has been included within long-term debt in the table above and included within noncontrolling interest in equity of subsidiaries within the consolidated statement of equity. See note 9 for details regarding Pandora’s convertible notes.

Business Acquisition, Pro Forma Information

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Years ended December 31,

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​

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2019

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2018

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2017

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​

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amounts in millions

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Revenue

​

$

10,419

​

9,617

​

8,987

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Net earnings (loss)

​

$

371

​

533

​

1,577

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Net earnings (loss) attributable to Liberty stockholders

​

$

123

​

294

​

1,130

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Formula 1 Ìý
Business Acquisition, Pro Forma Information

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Year ended

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​

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December 31,

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​

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2017

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​

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amounts in millions

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Revenue

​

$

7,595

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Net earnings (loss)

​

$

1,874

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Net earnings (loss) attributable to Liberty stockholders

​

$

1,338

​