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Quarterly report pursuant to Section 13 or 15(d)

Long-Term Debt (Tables)

v2.4.0.8
Long-Term Debt (Tables)
 6 Months Ended
Jun. 30, 2014
Long-term Debt, Unclassified [Abstract] Ìý
Schedule of Long-term Debt Instruments [Table Text Block]
Debt is summarized as follows:
Ìý
Ìý
Ìý
Carrying value
Ìý
Outstanding Principal June 30, 2014
Ìý
Ìý
JuneÌý30,
2014
Ìý
DecemberÌý31,
2013
Ìý
amounts in millions
Corporate level notes and loans:
Ìý
Ìý
Ìý
Ìý
Ìý
Liberty 1.375% Cash Convertible Notes due 2023
$
1,000

Ìý
1,025

Ìý
1,002

Margin Loans
250

Ìý
250

Ìý
920

Subsidiary notes and loans
Ìý
Ìý
Ìý
Ìý
Ìý
SIRIUS XM 7% Exchangeable Senior Subordinated Notes due 2014
491

Ìý
504

Ìý
520

SIRIUS XM 5.875% Senior Notes due 2020
650

Ìý
643

Ìý
643

SIRIUS XM 5.75% Senior Notes due 2021
600

Ìý
595

Ìý
594

SIRIUS XM 5.25% Senior Notes due 2022
400

Ìý
407

Ìý
407

SIRIUS XM 4.25% Senior Notes due 2020
500

Ìý
495

Ìý
494

SIRIUS XM 4.625% Senior Notes due 2023
500

Ìý
495

Ìý
495

SIRIUS XM 6% Senior Notes due 2024
1,500

Ìý
1,483

Ìý
—

SIRIUS XM Credit Facility
—

Ìý
—

Ìý
460

ÌýÌýÌýÌýÌýÌýOther subsidiary debt
42

Ìý
42

Ìý
20

Total debt
$
5,933

Ìý
5,939

Ìý
5,555

Less debt classified as current
Ìý
Ìý
(762
)
Ìý
(777
)
Total long-term debt
Ìý
Ìý
$
5,177

Ìý
4,778

Value of shares pledged as collateral pursuant to the margin loan agreements
As of JuneÌý30, 2014, the values of shares pledged as collateral pursuant to the remaining margin loan agreement are as follows:
Ìý
Ìý
Number of Shares Pledged
Ìý
Ìý
Ìý
Ìý
as Collateral as of
Ìý
Share value as of
Investment
Ìý
JuneÌý30, 2014
Ìý
JuneÌý30, 2014
Ìý
Ìý
amounts in millions
SIRIUS XM
Ìý
719.9

Ìý
$
2,491

Live Nation
Ìý
8.1

Ìý
$
199

Time Warner, Inc.
Ìý
3.6

Ìý
$
254

Viacom, Inc.
Ìý
3.5

Ìý
$
306

Time Warner Cable, Inc.
Ìý
1.1

Ìý
$
164

Time, Inc.
Ìý
0.5

Ìý
$
11


Fair Value of Debt
The fair value, based on quoted market prices of the same instruments but not considered to be active markets (Level 2), of SIRIUS XM's publicly traded debt securities, not reported at fair value, are as follows (amounts in millions):
Ìý
June 30, 2014
SIRIUS XM 5.875% Senior Notes due 2020
$
690

SIRIUS XM 5.75% Senior Notes due 2021
$
631

SIRIUS XM 7% Exchangeable Senior Subordinated Notes due 2014
$
942

SIRIUS XM 5.25% Senior Notes due 2022
$
431

SIRIUS XM 4.25% Senior Notes due 2020
$
494

SIRIUS XM 4.625% Senior Notes due 2023
$
479

SIRIUS XM 6% Senior Notes due 2024
$
1,564


Due to the variable rate nature of the Credit Facility, margin loans and other debt the Company believes that the carrying amount approximates fair value at JuneÌý30, 2014.