| Financial Information for Tracking Stock Groups |
BALANCE SHEET INFORMATION
DecemberÌý31, 2017
(unaudited)
Ìý
|
Ìý
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Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
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Ìý
|
|
Ìý
|
Ìý
|
Ìý
|
Attributed (note 1)
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Ìý
|
Ìý
|
Liberty
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Ìý
|
Ìý
|
SiriusXM
|
Ìý
|
Braves
|
Ìý
|
Formula One
|
Ìý
|
Inter-Group
|
Ìý
|
Consolidated
|
Ìý
|
|
Ìý
|
ÌýÌýÌýÌý
|
Group
|
Ìý
|
Group
|
Ìý
|
Group
|
Ìý
|
Eliminations
|
Ìý
|
Liberty
|
ÌýÌýÌýÌý
|
|
Ìý
|
Ìý
|
amountsÌýinÌýmillions
|
Ìý
|
|
Assets
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Current assets:
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Cash and cash equivalents
|
Ìý
|
$
|
615
|
Ìý
|
132
|
Ìý
|
282
|
Ìý
|
Ìý—
|
Ìý
|
1,029
|
Ìý
|
|
Trade and other receivables, net
|
Ìý
|
Ìý
|
242
|
Ìý
|
32
|
Ìý
|
84
|
Ìý
|
Ìý—
|
Ìý
|
358
|
Ìý
|
|
Other current assets
|
Ìý
|
Ìý
|
207
|
Ìý
|
56
|
Ìý
|
113
|
Ìý
|
Ìý—
|
Ìý
|
376
|
Ìý
|
|
Total current assets
|
Ìý
|
Ìý
|
1,064
|
Ìý
|
220
|
Ìý
|
479
|
Ìý
|
Ìý—
|
Ìý
|
1,763
|
Ìý
|
|
Intergroup interest in the Braves Group (note 1)
|
Ìý
|
Ìý
|
Ìý—
|
Ìý
|
Ìý—
|
Ìý
|
202
|
Ìý
|
(202)
|
Ìý
|
Ìý—
|
Ìý
|
|
Investments in available-for-sale securities and other cost investments (noteÌý1)
|
Ìý
|
Ìý
|
580
|
Ìý
|
Ìý8
|
Ìý
|
526
|
Ìý
|
Ìý—
|
Ìý
|
1,114
|
Ìý
|
|
Investments in affiliates, accounted for using the equity method (note 1)
|
Ìý
|
Ìý
|
672
|
Ìý
|
145
|
Ìý
|
933
|
Ìý
|
Ìý—
|
Ìý
|
1,750
|
Ìý
|
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Property and equipment, at cost
|
Ìý
|
Ìý
|
2,274
|
Ìý
|
1,150
|
Ìý
|
172
|
Ìý
|
Ìý—
|
Ìý
|
3,596
|
Ìý
|
|
Accumulated depreciation
|
Ìý
|
Ìý
|
(927)
|
Ìý
|
(51)
|
Ìý
|
(77)
|
Ìý
|
Ìý—
|
Ìý
|
(1,055)
|
Ìý
|
|
Ìý
|
Ìý
|
Ìý
|
1,347
|
Ìý
|
1,099
|
Ìý
|
95
|
Ìý
|
Ìý—
|
Ìý
|
2,541
|
Ìý
|
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Intangible assets not subject to amortization
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Goodwill
|
Ìý
|
Ìý
|
14,247
|
Ìý
|
180
|
Ìý
|
3,956
|
Ìý
|
Ìý—
|
Ìý
|
18,383
|
Ìý
|
|
FCC licenses
|
Ìý
|
Ìý
|
8,600
|
Ìý
|
Ìý—
|
Ìý
|
Ìý—
|
Ìý
|
Ìý—
|
Ìý
|
8,600
|
Ìý
|
|
Other
|
Ìý
|
Ìý
|
931
|
Ìý
|
143
|
Ìý
|
Ìý—
|
Ìý
|
Ìý—
|
Ìý
|
1,074
|
Ìý
|
|
Ìý
|
Ìý
|
Ìý
|
23,778
|
Ìý
|
323
|
Ìý
|
3,956
|
Ìý
|
Ìý—
|
Ìý
|
28,057
|
Ìý
|
|
Intangible assets subject to amortization, net
|
Ìý
|
Ìý
|
972
|
Ìý
|
49
|
Ìý
|
5,110
|
Ìý
|
Ìý—
|
Ìý
|
6,131
|
Ìý
|
|
Other assets
|
Ìý
|
Ìý
|
117
|
Ìý
|
22
|
Ìý
|
501
|
Ìý
|
Ìý—
|
Ìý
|
640
|
Ìý
|
|
Total assets
|
Ìý
|
$
|
28,530
|
Ìý
|
1,866
|
Ìý
|
11,802
|
Ìý
|
(202)
|
Ìý
|
41,996
|
Ìý
|
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Liabilities and Equity
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Current liabilities:
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Intergroup payable (receivable) (note 4)
|
Ìý
|
$
|
Ìý9
|
Ìý
|
(39)
|
Ìý
|
30
|
Ìý
|
Ìý—
|
Ìý
|
Ìý—
|
Ìý
|
|
Accounts payable and accrued liabilities
|
Ìý
|
Ìý
|
934
|
Ìý
|
58
|
Ìý
|
258
|
Ìý
|
Ìý—
|
Ìý
|
1,250
|
Ìý
|
|
Current portion of debt (noteÌý1)
|
Ìý
|
Ìý
|
755
|
Ìý
|
13
|
Ìý
|
Ìý—
|
Ìý
|
Ìý—
|
Ìý
|
768
|
Ìý
|
|
Deferred revenue
|
Ìý
|
Ìý
|
1,882
|
Ìý
|
51
|
Ìý
|
Ìý8
|
Ìý
|
Ìý—
|
Ìý
|
1,941
|
Ìý
|
|
Other current liabilities
|
Ìý
|
Ìý
|
Ìý3
|
Ìý
|
Ìý8
|
Ìý
|
Ìý9
|
Ìý
|
Ìý—
|
Ìý
|
20
|
Ìý
|
|
Total current liabilities
|
Ìý
|
Ìý
|
3,583
|
Ìý
|
91
|
Ìý
|
305
|
Ìý
|
Ìý—
|
Ìý
|
3,979
|
Ìý
|
|
Long-term debt (note 1)
|
Ìý
|
Ìý
|
6,741
|
Ìý
|
649
|
Ìý
|
5,796
|
Ìý
|
Ìý—
|
Ìý
|
13,186
|
Ìý
|
|
Deferred income tax liabilities (note 3)
|
Ìý
|
Ìý
|
1,447
|
Ìý
|
62
|
Ìý
|
(31)
|
Ìý
|
Ìý—
|
Ìý
|
1,478
|
Ìý
|
|
Redeemable intergroup interest (note 1)
|
Ìý
|
Ìý
|
Ìý—
|
Ìý
|
202
|
Ìý
|
Ìý—
|
Ìý
|
(202)
|
Ìý
|
Ìý—
|
Ìý
|
|
Other liabilities
|
Ìý
|
Ìý
|
283
|
Ìý
|
435
|
Ìý
|
61
|
Ìý
|
Ìý—
|
Ìý
|
779
|
Ìý
|
|
Total liabilities
|
Ìý
|
Ìý
|
12,054
|
Ìý
|
1,439
|
Ìý
|
6,131
|
Ìý
|
(202)
|
Ìý
|
19,422
|
Ìý
|
|
Equity / Attributed net assets
|
Ìý
|
Ìý
|
10,861
|
Ìý
|
413
|
Ìý
|
5,669
|
Ìý
|
Ìý—
|
Ìý
|
16,943
|
Ìý
|
|
Noncontrolling interests in equity of subsidiaries
|
Ìý
|
Ìý
|
5,615
|
Ìý
|
14
|
Ìý
|
Ìý2
|
Ìý
|
Ìý—
|
Ìý
|
5,631
|
Ìý
|
|
Total liabilities and equity
|
Ìý
|
$
|
28,530
|
Ìý
|
1,866
|
Ìý
|
11,802
|
Ìý
|
(202)
|
Ìý
|
41,996
|
Ìý
|
Ìý
Ìý
BALANCE SHEET INFORMATION
DecemberÌý31, 2016
(unaudited)
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Ìý
|
Ìý
|
Ìý
|
Attributed (note 1)
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Ìý
|
Ìý
|
Liberty
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Ìý
|
Ìý
|
SiriusXM
|
Ìý
|
Braves
|
Ìý
|
Formula One
|
Ìý
|
Inter-Group
|
Ìý
|
Consolidated
|
Ìý
|
|
Ìý
|
ÌýÌýÌýÌý
|
Group
|
Ìý
|
Group
|
Ìý
|
Group
|
Ìý
|
Eliminations
|
Ìý
|
Liberty
|
ÌýÌýÌýÌý
|
|
Ìý
|
Ìý
|
amountsÌýinÌýmillions
|
Ìý
|
|
Assets
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Current assets:
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Cash and cash equivalents
|
Ìý
|
$
|
287
|
Ìý
|
107
|
Ìý
|
168
|
Ìý
|
Ìý—
|
Ìý
|
562
|
Ìý
|
|
Trade and other receivables, net
|
Ìý
|
Ìý
|
223
|
Ìý
|
15
|
Ìý
|
Ìý2
|
Ìý
|
Ìý—
|
Ìý
|
240
|
Ìý
|
|
Other current assets
|
Ìý
|
Ìý
|
206
|
Ìý
|
17
|
Ìý
|
Ìý5
|
Ìý
|
(1)
|
Ìý
|
227
|
Ìý
|
|
Total current assets
|
Ìý
|
Ìý
|
716
|
Ìý
|
139
|
Ìý
|
175
|
Ìý
|
(1)
|
Ìý
|
1,029
|
Ìý
|
|
Intergroup interest in the Braves Group (note 2)
|
Ìý
|
Ìý
|
Ìý—
|
Ìý
|
Ìý—
|
Ìý
|
187
|
Ìý
|
(187)
|
Ìý
|
Ìý—
|
Ìý
|
|
Investments in available-for-sale securities and other cost investments (noteÌý3)
|
Ìý
|
Ìý
|
Ìý—
|
Ìý
|
Ìý8
|
Ìý
|
1,301
|
Ìý
|
Ìý—
|
Ìý
|
1,309
|
Ìý
|
|
Investments in affiliates, accounted for using the equity method (noteÌý4)
|
Ìý
|
Ìý
|
164
|
Ìý
|
61
|
Ìý
|
892
|
Ìý
|
Ìý—
|
Ìý
|
1,117
|
Ìý
|
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Property and equipment, at cost
|
Ìý
|
Ìý
|
2,079
|
Ìý
|
943
|
Ìý
|
160
|
Ìý
|
Ìý—
|
Ìý
|
3,182
|
Ìý
|
|
Accumulated depreciation
|
Ìý
|
Ìý
|
(746)
|
Ìý
|
(13)
|
Ìý
|
(71)
|
Ìý
|
Ìý—
|
Ìý
|
(830)
|
Ìý
|
|
Ìý
|
Ìý
|
Ìý
|
1,333
|
Ìý
|
930
|
Ìý
|
89
|
Ìý
|
Ìý—
|
Ìý
|
2,352
|
Ìý
|
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Intangible assets not subject to amortization
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Goodwill
|
Ìý
|
Ìý
|
14,165
|
Ìý
|
180
|
Ìý
|
Ìý—
|
Ìý
|
Ìý—
|
Ìý
|
14,345
|
Ìý
|
|
FCC licenses
|
Ìý
|
Ìý
|
8,600
|
Ìý
|
Ìý—
|
Ìý
|
Ìý—
|
Ìý
|
Ìý—
|
Ìý
|
8,600
|
Ìý
|
|
Other
|
Ìý
|
Ìý
|
930
|
Ìý
|
143
|
Ìý
|
Ìý—
|
Ìý
|
Ìý—
|
Ìý
|
1,073
|
Ìý
|
|
Ìý
|
Ìý
|
Ìý
|
23,695
|
Ìý
|
323
|
Ìý
|
Ìý—
|
Ìý
|
Ìý—
|
Ìý
|
24,018
|
Ìý
|
|
Intangible assets subject to amortization, net
|
Ìý
|
Ìý
|
998
|
Ìý
|
73
|
Ìý
|
Ìý1
|
Ìý
|
Ìý—
|
Ìý
|
1,072
|
Ìý
|
|
Other assets
|
Ìý
|
Ìý
|
145
|
Ìý
|
14
|
Ìý
|
350
|
Ìý
|
(29)
|
Ìý
|
480
|
Ìý
|
|
Total assets
|
Ìý
|
$
|
27,051
|
Ìý
|
1,548
|
Ìý
|
2,995
|
Ìý
|
(217)
|
Ìý
|
31,377
|
Ìý
|
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Liabilities and Equity
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Current liabilities:
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Intergroup payable (receivable) (note 7)
|
Ìý
|
$
|
Ìý5
|
Ìý
|
(17)
|
Ìý
|
12
|
Ìý
|
Ìý—
|
Ìý
|
Ìý—
|
Ìý
|
|
Accounts payable and accrued liabilities
|
Ìý
|
Ìý
|
827
|
Ìý
|
141
|
Ìý
|
17
|
Ìý
|
Ìý—
|
Ìý
|
985
|
Ìý
|
|
Current portion of debt (noteÌý5)
|
Ìý
|
Ìý
|
Ìý5
|
Ìý
|
Ìý—
|
Ìý
|
Ìý—
|
Ìý
|
Ìý—
|
Ìý
|
Ìý5
|
Ìý
|
|
Deferred revenue
|
Ìý
|
Ìý
|
1,833
|
Ìý
|
44
|
Ìý
|
Ìý—
|
Ìý
|
Ìý—
|
Ìý
|
1,877
|
Ìý
|
|
Other current liabilities
|
Ìý
|
Ìý
|
Ìý3
|
Ìý
|
Ìý—
|
Ìý
|
Ìý3
|
Ìý
|
(1)
|
Ìý
|
Ìý5
|
Ìý
|
|
Total current liabilities
|
Ìý
|
Ìý
|
2,673
|
Ìý
|
168
|
Ìý
|
32
|
Ìý
|
(1)
|
Ìý
|
2,872
|
Ìý
|
|
Long-term debt (note 5)
|
Ìý
|
Ìý
|
6,102
|
Ìý
|
328
|
Ìý
|
1,583
|
Ìý
|
Ìý—
|
Ìý
|
8,013
|
Ìý
|
|
Deferred income tax liabilities
|
Ìý
|
Ìý
|
1,967
|
Ìý
|
48
|
Ìý
|
39
|
Ìý
|
(29)
|
Ìý
|
2,025
|
Ìý
|
|
Redeemable intergroup interest (note 2)
|
Ìý
|
Ìý
|
Ìý—
|
Ìý
|
187
|
Ìý
|
Ìý—
|
Ìý
|
(187)
|
Ìý
|
Ìý—
|
Ìý
|
|
Other liabilities
|
Ìý
|
Ìý
|
278
|
Ìý
|
417
|
Ìý
|
56
|
Ìý
|
Ìý—
|
Ìý
|
751
|
Ìý
|
|
Total liabilities
|
Ìý
|
Ìý
|
11,020
|
Ìý
|
1,148
|
Ìý
|
1,710
|
Ìý
|
(217)
|
Ìý
|
13,661
|
Ìý
|
|
Equity / Attributed net assets
|
Ìý
|
Ìý
|
10,085
|
Ìý
|
385
|
Ìý
|
1,286
|
Ìý
|
Ìý—
|
Ìý
|
11,756
|
Ìý
|
|
Noncontrolling interests in equity of subsidiaries
|
Ìý
|
Ìý
|
5,946
|
Ìý
|
15
|
Ìý
|
(1)
|
Ìý
|
Ìý—
|
Ìý
|
5,960
|
Ìý
|
|
Total liabilities and equity
|
Ìý
|
$
|
27,051
|
Ìý
|
1,548
|
Ìý
|
2,995
|
Ìý
|
(217)
|
Ìý
|
31,377
|
Ìý
|
Ìý
STATEMENT OF OPERATIONS INFORMATION
DecemberÌý31, 2017
(unaudited)
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Ìý
|
Ìý
|
Ìý
|
Attributed (note 1)
|
Ìý
|
Ìý
|
Ìý
|
|
Ìý
|
Ìý
|
Liberty
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Ìý
|
Ìý
|
SiriusXM
|
Ìý
|
Braves
|
Ìý
|
Formula One
|
Ìý
|
Consolidated
|
Ìý
|
|
Ìý
|
Ìý
|
Group
|
Ìý
|
Group
|
Ìý
|
Group
|
Ìý
|
Liberty
|
Ìý
|
|
Ìý
|
Ìý
|
amounts in millions
|
Ìý
|
|
Revenue:
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Subscriber revenue
|
Ìý
|
$
|
4,473
|
Ìý
|
Ìý—
|
Ìý
|
Ìý—
|
Ìý
|
4,473
|
Ìý
|
|
Formula 1 revenue
|
Ìý
|
Ìý
|
Ìý—
|
Ìý
|
Ìý—
|
Ìý
|
1,783
|
Ìý
|
1,783
|
Ìý
|
|
Other revenue
|
Ìý
|
Ìý
|
952
|
Ìý
|
386
|
Ìý
|
Ìý—
|
Ìý
|
1,338
|
Ìý
|
|
Total revenue
|
Ìý
|
Ìý
|
5,425
|
Ìý
|
386
|
Ìý
|
1,783
|
Ìý
|
7,594
|
Ìý
|
|
Operating costs and expenses, including stock-based compensation (note 2):
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Cost of subscriber services (exclusive of depreciation shown separately below):
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Revenue share and royalties
|
Ìý
|
Ìý
|
1,210
|
Ìý
|
Ìý—
|
Ìý
|
Ìý—
|
Ìý
|
1,210
|
Ìý
|
|
Programming and content
|
Ìý
|
Ìý
|
388
|
Ìý
|
Ìý—
|
Ìý
|
Ìý—
|
Ìý
|
388
|
Ìý
|
|
Customer service and billing
|
Ìý
|
Ìý
|
385
|
Ìý
|
Ìý—
|
Ìý
|
Ìý—
|
Ìý
|
385
|
Ìý
|
|
Other
|
Ìý
|
Ìý
|
119
|
Ìý
|
Ìý—
|
Ìý
|
Ìý—
|
Ìý
|
119
|
Ìý
|
|
Cost of Formula 1 revenue
|
Ìý
|
Ìý
|
Ìý—
|
Ìý
|
Ìý—
|
Ìý
|
1,219
|
Ìý
|
1,219
|
Ìý
|
|
Subscriber acquisition costs
|
Ìý
|
Ìý
|
499
|
Ìý
|
Ìý—
|
Ìý
|
Ìý—
|
Ìý
|
499
|
Ìý
|
|
Other operating expenses
|
Ìý
|
Ìý
|
113
|
Ìý
|
281
|
Ìý
|
Ìý—
|
Ìý
|
394
|
Ìý
|
|
Selling, general and administrative
|
Ìý
|
Ìý
|
812
|
Ìý
|
151
|
Ìý
|
199
|
Ìý
|
1,162
|
Ìý
|
|
Depreciation and amortization
|
Ìý
|
Ìý
|
352
|
Ìý
|
67
|
Ìý
|
405
|
Ìý
|
824
|
Ìý
|
|
Ìý
|
Ìý
|
Ìý
|
3,878
|
Ìý
|
499
|
Ìý
|
1,823
|
Ìý
|
6,200
|
Ìý
|
|
Operating income (loss)
|
Ìý
|
Ìý
|
1,547
|
Ìý
|
(113)
|
Ìý
|
(40)
|
Ìý
|
1,394
|
Ìý
|
|
Other income (expense):
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Interest expense
|
Ìý
|
Ìý
|
(356)
|
Ìý
|
(15)
|
Ìý
|
(220)
|
Ìý
|
(591)
|
Ìý
|
|
Share of earnings (losses) of affiliates, net
|
Ìý
|
Ìý
|
29
|
Ìý
|
78
|
Ìý
|
(3)
|
Ìý
|
104
|
Ìý
|
|
Unrealized gain/(loss) on inter-group interest
|
Ìý
|
Ìý
|
Ìý—
|
Ìý
|
(15)
|
Ìý
|
15
|
Ìý
|
Ìý—
|
Ìý
|
|
Realized and unrealized gains (losses) on financial instruments, net
|
Ìý
|
Ìý
|
(16)
|
Ìý
|
Ìý—
|
Ìý
|
(72)
|
Ìý
|
(88)
|
Ìý
|
|
Other, net
|
Ìý
|
Ìý
|
(11)
|
Ìý
|
Ìý3
|
Ìý
|
16
|
Ìý
|
Ìý8
|
Ìý
|
|
Ìý
|
Ìý
|
Ìý
|
(354)
|
Ìý
|
51
|
Ìý
|
(264)
|
Ìý
|
(567)
|
Ìý
|
|
Earnings (loss) before income taxes
|
Ìý
|
Ìý
|
1,193
|
Ìý
|
(62)
|
Ìý
|
(304)
|
Ìý
|
827
|
Ìý
|
|
Income tax (expense) benefit (note 3)
|
Ìý
|
Ìý
|
466
|
Ìý
|
36
|
Ìý
|
561
|
Ìý
|
1,063
|
Ìý
|
|
Net earnings (loss)
|
Ìý
|
Ìý
|
1,659
|
Ìý
|
(26)
|
Ìý
|
257
|
Ìý
|
1,890
|
Ìý
|
|
Less net earnings (loss) attributable to the noncontrolling interests
|
Ìý
|
Ìý
|
535
|
Ìý
|
(1)
|
Ìý
|
Ìý2
|
Ìý
|
536
|
Ìý
|
|
Net earnings (loss) attributable to Liberty stockholders
|
Ìý
|
$
|
1,124
|
Ìý
|
(25)
|
Ìý
|
255
|
Ìý
|
1,354
|
Ìý
|
Ìý
Ìý
STATEMENT OF OPERATIONS INFORMATION
DecemberÌý31, 2016
(unaudited)
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Ìý
|
Ìý
|
Ìý
|
Attributed (note 1)
|
Ìý
|
Ìý
|
Ìý
|
|
Ìý
|
Ìý
|
Liberty
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Ìý
|
Ìý
|
SiriusXM
|
Ìý
|
Braves
|
Ìý
|
Formula One
|
Ìý
|
Consolidated
|
Ìý
|
|
Ìý
|
Ìý
|
Group
|
Ìý
|
Group
|
Ìý
|
Group
|
Ìý
|
Liberty
|
Ìý
|
|
Ìý
|
Ìý
|
amounts in millions
|
Ìý
|
|
Revenue:
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Subscriber revenue
|
Ìý
|
$
|
4,194
|
Ìý
|
Ìý—
|
Ìý
|
Ìý—
|
Ìý
|
4,194
|
Ìý
|
|
Other revenue
|
Ìý
|
Ìý
|
820
|
Ìý
|
262
|
Ìý
|
Ìý—
|
Ìý
|
1,082
|
Ìý
|
|
Total revenue
|
Ìý
|
Ìý
|
5,014
|
Ìý
|
262
|
Ìý
|
Ìý—
|
Ìý
|
5,276
|
Ìý
|
|
Operating costs and expenses, including stock-based compensation (note 6):
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Cost of subscriber services (exclusive of depreciation shown separately below):
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Revenue share and royalties
|
Ìý
|
Ìý
|
1,109
|
Ìý
|
Ìý—
|
Ìý
|
Ìý—
|
Ìý
|
1,109
|
Ìý
|
|
Programming and content
|
Ìý
|
Ìý
|
354
|
Ìý
|
Ìý—
|
Ìý
|
Ìý—
|
Ìý
|
354
|
Ìý
|
|
Customer service and billing
|
Ìý
|
Ìý
|
387
|
Ìý
|
Ìý—
|
Ìý
|
Ìý—
|
Ìý
|
387
|
Ìý
|
|
Other
|
Ìý
|
Ìý
|
144
|
Ìý
|
Ìý—
|
Ìý
|
Ìý—
|
Ìý
|
144
|
Ìý
|
|
Subscriber acquisition costs
|
Ìý
|
Ìý
|
513
|
Ìý
|
Ìý—
|
Ìý
|
Ìý—
|
Ìý
|
513
|
Ìý
|
|
Other operating expenses
|
Ìý
|
Ìý
|
82
|
Ìý
|
224
|
Ìý
|
Ìý—
|
Ìý
|
306
|
Ìý
|
|
Selling, general and administrative
|
Ìý
|
Ìý
|
761
|
Ìý
|
67
|
Ìý
|
58
|
Ìý
|
886
|
Ìý
|
|
Legal settlement, net
|
Ìý
|
Ìý
|
Ìý—
|
Ìý
|
Ìý—
|
Ìý
|
(511)
|
Ìý
|
(511)
|
Ìý
|
|
Depreciation and amortization
|
Ìý
|
Ìý
|
312
|
Ìý
|
32
|
Ìý
|
10
|
Ìý
|
354
|
Ìý
|
|
Ìý
|
Ìý
|
Ìý
|
3,662
|
Ìý
|
323
|
Ìý
|
(443)
|
Ìý
|
3,542
|
Ìý
|
|
Operating income (loss)
|
Ìý
|
Ìý
|
1,352
|
Ìý
|
(61)
|
Ìý
|
443
|
Ìý
|
1,734
|
Ìý
|
|
Other income (expense):
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Interest expense
|
Ìý
|
Ìý
|
(342)
|
Ìý
|
(1)
|
Ìý
|
(19)
|
Ìý
|
(362)
|
Ìý
|
|
Share of earnings (losses) of affiliates, net
|
Ìý
|
Ìý
|
13
|
Ìý
|
Ìý9
|
Ìý
|
(8)
|
Ìý
|
14
|
Ìý
|
|
Unrealized gain/(loss) on inter-group interest
|
Ìý
|
Ìý
|
Ìý—
|
Ìý
|
(27)
|
Ìý
|
27
|
Ìý
|
Ìý—
|
Ìý
|
|
Realized and unrealized gains (losses) on financial instruments, net
|
Ìý
|
Ìý
|
Ìý—
|
Ìý
|
Ìý1
|
Ìý
|
36
|
Ìý
|
37
|
Ìý
|
|
Other, net
|
Ìý
|
Ìý
|
(25)
|
Ìý
|
Ìý—
|
Ìý
|
21
|
Ìý
|
(4)
|
Ìý
|
|
Ìý
|
Ìý
|
Ìý
|
(354)
|
Ìý
|
(18)
|
Ìý
|
57
|
Ìý
|
(315)
|
Ìý
|
|
Earnings (loss) before income taxes
|
Ìý
|
Ìý
|
998
|
Ìý
|
(79)
|
Ìý
|
500
|
Ìý
|
1,419
|
Ìý
|
|
Income tax (expense) benefit
|
Ìý
|
Ìý
|
(341)
|
Ìý
|
17
|
Ìý
|
(171)
|
Ìý
|
(495)
|
Ìý
|
|
Net earnings (loss)
|
Ìý
|
Ìý
|
657
|
Ìý
|
(62)
|
Ìý
|
329
|
Ìý
|
924
|
Ìý
|
|
Less net earnings (loss) attributable to the noncontrolling interests
|
Ìý
|
Ìý
|
244
|
Ìý
|
Ìý—
|
Ìý
|
Ìý—
|
Ìý
|
244
|
Ìý
|
|
Net earnings (loss) attributable to Liberty stockholders
|
Ìý
|
$
|
413
|
Ìý
|
(62)
|
Ìý
|
329
|
Ìý
|
680
|
Ìý
|
Ìý
STATEMENT OF OPERATIONS INFORMATION
DecemberÌý31, 2015
(unaudited)
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Ìý
|
Ìý
|
Ìý
|
Attributed (note 1)
|
Ìý
|
Ìý
|
Ìý
|
|
Ìý
|
Ìý
|
Liberty
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Ìý
|
Ìý
|
SiriusXM
|
Ìý
|
Braves
|
Ìý
|
Formula One
|
Ìý
|
Consolidated
|
Ìý
|
|
Ìý
|
Ìý
|
Group
|
Ìý
|
Group
|
Ìý
|
Group
|
Ìý
|
Liberty
|
Ìý
|
|
Ìý
|
Ìý
|
amounts in millions
|
Ìý
|
|
Revenue:
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Subscriber revenue
|
Ìý
|
$
|
3,807
|
Ìý
|
Ìý—
|
Ìý
|
Ìý—
|
Ìý
|
3,807
|
Ìý
|
|
Other revenue
|
Ìý
|
Ìý
|
745
|
Ìý
|
243
|
Ìý
|
Ìý—
|
Ìý
|
988
|
Ìý
|
|
Total revenue
|
Ìý
|
Ìý
|
4,552
|
Ìý
|
243
|
Ìý
|
Ìý—
|
Ìý
|
4,795
|
Ìý
|
|
Operating costs and expenses, including stock-based compensation (note 6):
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Cost of subscriber services (exclusive of depreciation shown separately below):
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Revenue share and royalties
|
Ìý
|
Ìý
|
1,035
|
Ìý
|
Ìý—
|
Ìý
|
Ìý—
|
Ìý
|
1,035
|
Ìý
|
|
Programming and content
|
Ìý
|
Ìý
|
267
|
Ìý
|
Ìý—
|
Ìý
|
Ìý—
|
Ìý
|
267
|
Ìý
|
|
Customer service and billing
|
Ìý
|
Ìý
|
380
|
Ìý
|
Ìý—
|
Ìý
|
Ìý—
|
Ìý
|
380
|
Ìý
|
|
Other
|
Ìý
|
Ìý
|
141
|
Ìý
|
Ìý—
|
Ìý
|
Ìý—
|
Ìý
|
141
|
Ìý
|
|
Subscriber acquisition costs
|
Ìý
|
Ìý
|
533
|
Ìý
|
Ìý—
|
Ìý
|
Ìý—
|
Ìý
|
533
|
Ìý
|
|
Other operating expenses
|
Ìý
|
Ìý
|
73
|
Ìý
|
189
|
Ìý
|
Ìý—
|
Ìý
|
262
|
Ìý
|
|
Selling, general and administrative
|
Ìý
|
Ìý
|
728
|
Ìý
|
61
|
Ìý
|
72
|
Ìý
|
861
|
Ìý
|
|
Depreciation and amortization
|
Ìý
|
Ìý
|
322
|
Ìý
|
31
|
Ìý
|
Ìý9
|
Ìý
|
362
|
Ìý
|
|
Ìý
|
Ìý
|
Ìý
|
3,479
|
Ìý
|
281
|
Ìý
|
81
|
Ìý
|
3,841
|
Ìý
|
|
Operating income (loss)
|
Ìý
|
Ìý
|
1,073
|
Ìý
|
(38)
|
Ìý
|
(81)
|
Ìý
|
954
|
Ìý
|
|
Other income (expense):
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Interest expense
|
Ìý
|
Ìý
|
(307)
|
Ìý
|
(1)
|
Ìý
|
(20)
|
Ìý
|
(328)
|
Ìý
|
|
Share of earnings (losses) of affiliates, net
|
Ìý
|
Ìý
|
(1)
|
Ìý
|
Ìý9
|
Ìý
|
(48)
|
Ìý
|
(40)
|
Ìý
|
|
Realized and unrealized gains (losses) on financial instruments, net
|
Ìý
|
Ìý
|
Ìý—
|
Ìý
|
Ìý—
|
Ìý
|
(140)
|
Ìý
|
(140)
|
Ìý
|
|
Other, net
|
Ìý
|
Ìý
|
Ìý—
|
Ìý
|
Ìý—
|
Ìý
|
12
|
Ìý
|
12
|
Ìý
|
|
Ìý
|
Ìý
|
Ìý
|
(308)
|
Ìý
|
Ìý8
|
Ìý
|
(196)
|
Ìý
|
(496)
|
Ìý
|
|
Earnings (loss) before income taxes
|
Ìý
|
Ìý
|
765
|
Ìý
|
(30)
|
Ìý
|
(277)
|
Ìý
|
458
|
Ìý
|
|
Income tax (expense) benefit
|
Ìý
|
Ìý
|
(322)
|
Ìý
|
10
|
Ìý
|
102
|
Ìý
|
(210)
|
Ìý
|
|
Net earnings (loss)
|
Ìý
|
Ìý
|
443
|
Ìý
|
(20)
|
Ìý
|
(175)
|
Ìý
|
248
|
Ìý
|
|
Less net earnings (loss) attributable to the noncontrolling interests
|
Ìý
|
Ìý
|
184
|
Ìý
|
Ìý—
|
Ìý
|
Ìý—
|
Ìý
|
184
|
Ìý
|
|
Net earnings (loss) attributable to Liberty stockholders
|
Ìý
|
$
|
259
|
Ìý
|
(20)
|
Ìý
|
(175)
|
Ìý
|
64
|
Ìý
|
STATEMENT OF CASH FLOWS INFORMATION
DecemberÌý31, 2017
(unaudited)
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Ìý
|
Ìý
|
Ìý
|
Attributed (note 1)
|
Ìý
|
Ìý
|
Ìý
|
|
Ìý
|
Ìý
|
Liberty
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Ìý
|
Ìý
|
SiriusXM
|
Ìý
|
Braves
|
Ìý
|
Formula One
|
Ìý
|
Consolidated
|
Ìý
|
|
Ìý
|
Ìý
|
Group
|
Ìý
|
Group
|
Ìý
|
Group
|
Ìý
|
Liberty
|
Ìý
|
|
Ìý
|
Ìý
|
amountsÌýinÌýmillions
|
Ìý
|
|
Cash flows from operating activities:
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Net earnings (loss)
|
Ìý
|
$
|
1,659
|
Ìý
|
(26)
|
Ìý
|
257
|
Ìý
|
1,890
|
Ìý
|
|
Adjustments to reconcile net earnings to net cash provided by operating activities:
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Depreciation and amortization
|
Ìý
|
Ìý
|
352
|
Ìý
|
67
|
Ìý
|
405
|
Ìý
|
824
|
Ìý
|
|
Stock-based compensation
|
Ìý
|
Ìý
|
150
|
Ìý
|
48
|
Ìý
|
32
|
Ìý
|
230
|
Ìý
|
|
Share of (earnings) loss of affiliates, net
|
Ìý
|
Ìý
|
(29)
|
Ìý
|
(78)
|
Ìý
|
Ìý3
|
Ìý
|
(104)
|
Ìý
|
|
Unrealized (gains) losses on intergroup interest, net
|
Ìý
|
Ìý
|
Ìý—
|
Ìý
|
15
|
Ìý
|
(15)
|
Ìý
|
Ìý—
|
Ìý
|
|
Realized and unrealized (gains) losses on financial instruments, net
|
Ìý
|
Ìý
|
16
|
Ìý
|
Ìý—
|
Ìý
|
72
|
Ìý
|
88
|
Ìý
|
|
Noncash interest expense
|
Ìý
|
Ìý
|
Ìý7
|
Ìý
|
Ìý3
|
Ìý
|
Ìý6
|
Ìý
|
16
|
Ìý
|
|
Losses (gains) on dilution of investment in affiliate
|
Ìý
|
Ìý
|
Ìý—
|
Ìý
|
Ìý—
|
Ìý
|
(3)
|
Ìý
|
(3)
|
Ìý
|
|
Loss on early extinguishment of debt
|
Ìý
|
Ìý
|
35
|
Ìý
|
Ìý5
|
Ìý
|
Ìý8
|
Ìý
|
48
|
Ìý
|
|
Deferred income tax expense (benefit)
|
Ìý
|
Ìý
|
(492)
|
Ìý
|
Ìý2
|
Ìý
|
(574)
|
Ìý
|
(1,064)
|
Ìý
|
|
Intergroup tax allocation
|
Ìý
|
Ìý
|
(6)
|
Ìý
|
(39)
|
Ìý
|
45
|
Ìý
|
Ìý—
|
Ìý
|
|
Intergroup tax (payments) receipts
|
Ìý
|
Ìý
|
Ìý4
|
Ìý
|
15
|
Ìý
|
(19)
|
Ìý
|
Ìý—
|
Ìý
|
|
Other charges (credits), net
|
Ìý
|
Ìý
|
(4)
|
Ìý
|
18
|
Ìý
|
(10)
|
Ìý
|
Ìý4
|
Ìý
|
|
Changes in operating assets and liabilities
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Current and other assets
|
Ìý
|
Ìý
|
30
|
Ìý
|
(57)
|
Ìý
|
77
|
Ìý
|
50
|
Ìý
|
|
Payables and other liabilities
|
Ìý
|
Ìý
|
127
|
Ìý
|
(15)
|
Ìý
|
(359)
|
Ìý
|
(247)
|
Ìý
|
|
Net cash provided (used) by operating activities
|
Ìý
|
Ìý
|
1,849
|
Ìý
|
(42)
|
Ìý
|
(75)
|
Ìý
|
1,732
|
Ìý
|
|
Cash flows from investing activities:
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Cash proceeds from dispositions of investments
|
Ìý
|
Ìý
|
Ìý—
|
Ìý
|
Ìý5
|
Ìý
|
16
|
Ìý
|
21
|
Ìý
|
|
Net cash paid for the acquisition of Formula 1
|
Ìý
|
Ìý
|
Ìý—
|
Ìý
|
Ìý—
|
Ìý
|
(1,647)
|
Ìý
|
(1,647)
|
Ìý
|
|
Investments in and loans to cost and equity investees
|
Ìý
|
Ìý
|
(851)
|
Ìý
|
(2)
|
Ìý
|
(9)
|
Ìý
|
(862)
|
Ìý
|
|
Capital expended for property and equipment
|
Ìý
|
Ìý
|
(288)
|
Ìý
|
(219)
|
Ìý
|
(10)
|
Ìý
|
(517)
|
Ìý
|
|
Other investing activities, net
|
Ìý
|
Ìý
|
(115)
|
Ìý
|
(5)
|
Ìý
|
(12)
|
Ìý
|
(132)
|
Ìý
|
|
Net cash provided (used) by investing activities
|
Ìý
|
Ìý
|
(1,254)
|
Ìý
|
(221)
|
Ìý
|
(1,662)
|
Ìý
|
(3,137)
|
Ìý
|
|
Cash flows from financing activities:
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Borrowings of debt
|
Ìý
|
Ìý
|
4,553
|
Ìý
|
544
|
Ìý
|
1,600
|
Ìý
|
6,697
|
Ìý
|
|
Repayments of debt
|
Ìý
|
Ìý
|
(3,216)
|
Ìý
|
(218)
|
Ìý
|
(1,673)
|
Ìý
|
(5,107)
|
Ìý
|
|
Proceeds from issuance of Series C Liberty Formula One common stock
|
Ìý
|
Ìý
|
Ìý—
|
Ìý
|
Ìý—
|
Ìý
|
1,938
|
Ìý
|
1,938
|
Ìý
|
|
Shares repurchased by subsidiary
|
Ìý
|
Ìý
|
(1,409)
|
Ìý
|
Ìý—
|
Ìý
|
Ìý—
|
Ìý
|
(1,409)
|
Ìý
|
|
Cash dividends paid by subsidiary
|
Ìý
|
Ìý
|
(60)
|
Ìý
|
Ìý—
|
Ìý
|
Ìý—
|
Ìý
|
(60)
|
Ìý
|
|
Taxes paid in lieu of shares issued for stock-based compensation
|
Ìý
|
Ìý
|
(100)
|
Ìý
|
(30)
|
Ìý
|
(5)
|
Ìý
|
(135)
|
Ìý
|
|
Other financing activities, net
|
Ìý
|
Ìý
|
(35)
|
Ìý
|
(8)
|
Ìý
|
(13)
|
Ìý
|
(56)
|
Ìý
|
|
Net cash provided (used) by financing activities
|
Ìý
|
Ìý
|
(267)
|
Ìý
|
288
|
Ìý
|
1,847
|
Ìý
|
1,868
|
Ìý
|
|
Effect of foreign exchange rates on cash and cash equivalents
|
Ìý
|
Ìý
|
Ìý—
|
Ìý
|
Ìý—
|
Ìý
|
Ìý4
|
Ìý
|
Ìý4
|
Ìý
|
|
Net increase (decrease) in cash and cash equivalents
|
Ìý
|
Ìý
|
328
|
Ìý
|
25
|
Ìý
|
114
|
Ìý
|
467
|
Ìý
|
|
Cash and cash equivalents at beginning of period
|
Ìý
|
Ìý
|
287
|
Ìý
|
107
|
Ìý
|
168
|
Ìý
|
562
|
Ìý
|
|
Cash and cash equivalents at end of period
|
Ìý
|
$
|
615
|
Ìý
|
132
|
Ìý
|
282
|
Ìý
|
1,029
|
Ìý
|
Ìý
Ìý
Ìý
STATEMENT OF CASH FLOWS INFORMATION
DecemberÌý31, 2016
(unaudited)
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Ìý
|
Ìý
|
Ìý
|
Attributed (note 1)
|
Ìý
|
Ìý
|
Ìý
|
|
Ìý
|
Ìý
|
Liberty
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Ìý
|
Ìý
|
SiriusXM
|
Ìý
|
Braves
|
Ìý
|
Formula One
|
Ìý
|
Consolidated
|
Ìý
|
|
Ìý
|
Ìý
|
Group
|
Ìý
|
Group
|
Ìý
|
Group
|
Ìý
|
Liberty
|
Ìý
|
|
Ìý
|
Ìý
|
amountsÌýinÌýmillions
|
Ìý
|
|
Cash flows from operating activities:
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Net earnings (loss)
|
Ìý
|
$
|
657
|
Ìý
|
(62)
|
Ìý
|
329
|
Ìý
|
924
|
Ìý
|
|
Adjustments to reconcile net earnings to net cash provided by operating activities:
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Depreciation and amortization
|
Ìý
|
Ìý
|
312
|
Ìý
|
32
|
Ìý
|
10
|
Ìý
|
354
|
Ìý
|
|
Stock-based compensation
|
Ìý
|
Ìý
|
128
|
Ìý
|
Ìý9
|
Ìý
|
13
|
Ìý
|
150
|
Ìý
|
|
Share of (earnings) loss of affiliates, net
|
Ìý
|
Ìý
|
(13)
|
Ìý
|
(9)
|
Ìý
|
Ìý8
|
Ìý
|
(14)
|
Ìý
|
|
Unrealized (gains) losses on intergroup interest, net
|
Ìý
|
Ìý
|
Ìý—
|
Ìý
|
27
|
Ìý
|
(27)
|
Ìý
|
Ìý—
|
Ìý
|
|
Realized and unrealized (gains) losses on financial instruments, net
|
Ìý
|
Ìý
|
Ìý—
|
Ìý
|
(1)
|
Ìý
|
(36)
|
Ìý
|
(37)
|
Ìý
|
|
Noncash interest expense
|
Ìý
|
Ìý
|
Ìý6
|
Ìý
|
Ìý5
|
Ìý
|
Ìý—
|
Ìý
|
11
|
Ìý
|
|
Loss on early extinguishment of debt
|
Ìý
|
Ìý
|
24
|
Ìý
|
Ìý—
|
Ìý
|
Ìý—
|
Ìý
|
24
|
Ìý
|
|
Deferred income tax expense (benefit)
|
Ìý
|
Ìý
|
332
|
Ìý
|
Ìý1
|
Ìý
|
94
|
Ìý
|
427
|
Ìý
|
|
Intergroup tax allocation
|
Ìý
|
Ìý
|
(13)
|
Ìý
|
(19)
|
Ìý
|
32
|
Ìý
|
Ìý—
|
Ìý
|
|
Intergroup tax (payments) receipts
|
Ìý
|
Ìý
|
Ìý7
|
Ìý
|
Ìý7
|
Ìý
|
(14)
|
Ìý
|
Ìý—
|
Ìý
|
|
Other charges (credits), net
|
Ìý
|
Ìý
|
21
|
Ìý
|
11
|
Ìý
|
(2)
|
Ìý
|
30
|
Ìý
|
|
Changes in operating assets and liabilities
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Current and other assets
|
Ìý
|
Ìý
|
59
|
Ìý
|
(17)
|
Ìý
|
(17)
|
Ìý
|
25
|
Ìý
|
|
Payables and other liabilities
|
Ìý
|
Ìý
|
184
|
Ìý
|
105
|
Ìý
|
(12)
|
Ìý
|
277
|
Ìý
|
|
Net cash provided (used) by operating activities
|
Ìý
|
Ìý
|
1,704
|
Ìý
|
89
|
Ìý
|
378
|
Ìý
|
2,171
|
Ìý
|
|
Cash flows from investing activities:
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Cash proceeds from dispositions of investments
|
Ìý
|
Ìý
|
Ìý—
|
Ìý
|
Ìý—
|
Ìý
|
62
|
Ìý
|
62
|
Ìý
|
|
Proceeds (payments) from settlement of financial instruments, net
|
Ìý
|
Ìý
|
Ìý—
|
Ìý
|
Ìý—
|
Ìý
|
(1)
|
Ìý
|
(1)
|
Ìý
|
|
Investments in and loans to cost and equity investees
|
Ìý
|
Ìý
|
Ìý—
|
Ìý
|
(20)
|
Ìý
|
(764)
|
Ìý
|
(784)
|
Ìý
|
|
Repayment of loans and other cash receipts from cost and equity investees
|
Ìý
|
Ìý
|
Ìý—
|
Ìý
|
Ìý—
|
Ìý
|
48
|
Ìý
|
48
|
Ìý
|
|
Capital expended for property and equipment
|
Ìý
|
Ìý
|
(206)
|
Ìý
|
(360)
|
Ìý
|
(2)
|
Ìý
|
(568)
|
Ìý
|
|
Purchases of short term investments and other marketable securities
|
Ìý
|
Ìý
|
Ìý—
|
Ìý
|
Ìý—
|
Ìý
|
(258)
|
Ìý
|
(258)
|
Ìý
|
|
Sales of short term investments and other marketable securities
|
Ìý
|
Ìý
|
Ìý—
|
Ìý
|
Ìý—
|
Ìý
|
273
|
Ìý
|
273
|
Ìý
|
|
Other investing activities, net
|
Ìý
|
Ìý
|
(4)
|
Ìý
|
(33)
|
Ìý
|
Ìý1
|
Ìý
|
(36)
|
Ìý
|
|
Net cash provided (used) by investing activities
|
Ìý
|
Ìý
|
(210)
|
Ìý
|
(413)
|
Ìý
|
(641)
|
Ìý
|
(1,264)
|
Ìý
|
|
Cash flows from financing activities:
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Borrowings of debt
|
Ìý
|
Ìý
|
1,847
|
Ìý
|
460
|
Ìý
|
438
|
Ìý
|
2,745
|
Ìý
|
|
Repayments of debt
|
Ìý
|
Ìý
|
(1,471)
|
Ìý
|
(276)
|
Ìý
|
(2)
|
Ìý
|
(1,749)
|
Ìý
|
|
Intergroup (payments) receipts
|
Ìý
|
Ìý
|
58
|
Ìý
|
16
|
Ìý
|
(74)
|
Ìý
|
Ìý—
|
Ìý
|
|
Shares repurchased by subsidiary
|
Ìý
|
Ìý
|
(1,674)
|
Ìý
|
Ìý—
|
Ìý
|
Ìý—
|
Ìý
|
(1,674)
|
Ìý
|
|
Braves Rights Offering
|
Ìý
|
Ìý
|
Ìý—
|
Ìý
|
203
|
Ìý
|
Ìý—
|
Ìý
|
203
|
Ìý
|
|
Cash dividends paid by subsidiary
|
Ìý
|
Ìý
|
(16)
|
Ìý
|
Ìý—
|
Ìý
|
Ìý—
|
Ìý
|
(16)
|
Ìý
|
|
Taxes paid in lieu of shares issued for stock-based compensation
|
Ìý
|
Ìý
|
(47)
|
Ìý
|
Ìý—
|
Ìý
|
(11)
|
Ìý
|
(58)
|
Ìý
|
|
Other financing activities, net
|
Ìý
|
Ìý
|
(16)
|
Ìý
|
15
|
Ìý
|
Ìý4
|
Ìý
|
Ìý3
|
Ìý
|
|
Net cash provided (used) by financing activities
|
Ìý
|
Ìý
|
(1,319)
|
Ìý
|
418
|
Ìý
|
355
|
Ìý
|
(546)
|
Ìý
|
|
Net increase (decrease) in cash and cash equivalents
|
Ìý
|
Ìý
|
175
|
Ìý
|
94
|
Ìý
|
92
|
Ìý
|
361
|
Ìý
|
|
Cash and cash equivalents at beginning of period
|
Ìý
|
Ìý
|
112
|
Ìý
|
13
|
Ìý
|
76
|
Ìý
|
201
|
Ìý
|
|
Cash and cash equivalents at end of period
|
Ìý
|
$
|
287
|
Ìý
|
107
|
Ìý
|
168
|
Ìý
|
562
|
Ìý
|
Ìý
STATEMENT OF CASH FLOWS INFORMATION
DecemberÌý31, 2015
(unaudited)
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Ìý
|
Ìý
|
Ìý
|
Attributed (note 1)
|
Ìý
|
Ìý
|
Ìý
|
|
Ìý
|
Ìý
|
Liberty
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Ìý
|
Ìý
|
SiriusXM
|
Ìý
|
Braves
|
Ìý
|
Formula One
|
Ìý
|
Consolidated
|
Ìý
|
|
Ìý
|
Ìý
|
Group
|
Ìý
|
Group
|
Ìý
|
Group
|
Ìý
|
Liberty
|
Ìý
|
|
Ìý
|
Ìý
|
amountsÌýinÌýmillions
|
Ìý
|
|
Cash flows from operating activities:
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Net earnings (loss)
|
Ìý
|
$
|
443
|
Ìý
|
(20)
|
Ìý
|
(175)
|
Ìý
|
248
|
Ìý
|
|
Adjustments to reconcile net earnings to net cash provided by operating activities:
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Depreciation and amortization
|
Ìý
|
Ìý
|
322
|
Ìý
|
31
|
Ìý
|
Ìý9
|
Ìý
|
362
|
Ìý
|
|
Stock-based compensation
|
Ìý
|
Ìý
|
157
|
Ìý
|
10
|
Ìý
|
37
|
Ìý
|
204
|
Ìý
|
|
Share of (earnings) loss of affiliates, net
|
Ìý
|
Ìý
|
Ìý1
|
Ìý
|
(9)
|
Ìý
|
48
|
Ìý
|
40
|
Ìý
|
|
Realized and unrealized (gains) losses on financial instruments, net
|
Ìý
|
Ìý
|
Ìý—
|
Ìý
|
Ìý—
|
Ìý
|
140
|
Ìý
|
140
|
Ìý
|
|
Noncash interest expense
|
Ìý
|
Ìý
|
Ìý6
|
Ìý
|
Ìý—
|
Ìý
|
Ìý—
|
Ìý
|
Ìý6
|
Ìý
|
|
Losses (gains) on dilution of investments in affiliate
|
Ìý
|
Ìý
|
Ìý—
|
Ìý
|
Ìý—
|
Ìý
|
Ìý1
|
Ìý
|
Ìý1
|
Ìý
|
|
Deferred income tax expense (benefit)
|
Ìý
|
Ìý
|
290
|
Ìý
|
(6)
|
Ìý
|
(109)
|
Ìý
|
175
|
Ìý
|
|
Intergroup tax allocation
|
Ìý
|
Ìý
|
(4)
|
Ìý
|
(4)
|
Ìý
|
Ìý8
|
Ìý
|
Ìý—
|
Ìý
|
|
Intergroup tax (payments) receipts
|
Ìý
|
Ìý
|
Ìý—
|
Ìý
|
Ìý1
|
Ìý
|
(1)
|
Ìý
|
Ìý—
|
Ìý
|
|
Other charges (credits), net
|
Ìý
|
Ìý
|
15
|
Ìý
|
Ìý—
|
Ìý
|
Ìý4
|
Ìý
|
19
|
Ìý
|
|
Changes in operating assets and liabilities
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Current and other assets
|
Ìý
|
Ìý
|
(220)
|
Ìý
|
Ìý9
|
Ìý
|
Ìý3
|
Ìý
|
(208)
|
Ìý
|
|
Payables and other liabilities
|
Ìý
|
Ìý
|
212
|
Ìý
|
33
|
Ìý
|
Ìý—
|
Ìý
|
245
|
Ìý
|
|
Net cash provided (used) by operating activities
|
Ìý
|
Ìý
|
1,222
|
Ìý
|
45
|
Ìý
|
(35)
|
Ìý
|
1,232
|
Ìý
|
|
Cash flows from investing activities:
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Cash proceeds from dispositions of investments
|
Ìý
|
Ìý
|
Ìý—
|
Ìý
|
24
|
Ìý
|
151
|
Ìý
|
175
|
Ìý
|
|
Proceeds (payments) from settlement of financial instruments, net
|
Ìý
|
Ìý
|
Ìý—
|
Ìý
|
Ìý—
|
Ìý
|
(322)
|
Ìý
|
(322)
|
Ìý
|
|
Investments in and loans to cost and equity investments
|
Ìý
|
Ìý
|
Ìý—
|
Ìý
|
Ìý—
|
Ìý
|
(19)
|
Ìý
|
(19)
|
Ìý
|
|
Capital expended for property and equipment
|
Ìý
|
Ìý
|
(135)
|
Ìý
|
(128)
|
Ìý
|
(33)
|
Ìý
|
(296)
|
Ìý
|
|
Purchases of short term investments and other marketable securities
|
Ìý
|
Ìý
|
Ìý—
|
Ìý
|
Ìý—
|
Ìý
|
(174)
|
Ìý
|
(174)
|
Ìý
|
|
Sales of short term investments and other marketable securities
|
Ìý
|
Ìý
|
Ìý—
|
Ìý
|
Ìý—
|
Ìý
|
358
|
Ìý
|
358
|
Ìý
|
|
Other investing activities, net
|
Ìý
|
Ìý
|
Ìý—
|
Ìý
|
(9)
|
Ìý
|
Ìý1
|
Ìý
|
(8)
|
Ìý
|
|
Net cash provided (used) by investing activities
|
Ìý
|
Ìý
|
(135)
|
Ìý
|
(113)
|
Ìý
|
(38)
|
Ìý
|
(286)
|
Ìý
|
|
Cash flows from financing activities:
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
Ìý
|
|
Borrowings of debt
|
Ìý
|
Ìý
|
1,978
|
Ìý
|
197
|
Ìý
|
38
|
Ìý
|
2,213
|
Ìý
|
|
Repayments of debt
|
Ìý
|
Ìý
|
(1,038)
|
Ìý
|
(158)
|
Ìý
|
Ìý—
|
Ìý
|
(1,196)
|
Ìý
|
|
Intergroup (payments) receipts
|
Ìý
|
Ìý
|
Ìý9
|
Ìý
|
31
|
Ìý
|
(40)
|
Ìý
|
Ìý—
|
Ìý
|
|
Repurchases of Liberty common stock
|
Ìý
|
Ìý
|
Ìý—
|
Ìý
|
Ìý—
|
Ìý
|
(350)
|
Ìý
|
(350)
|
Ìý
|
|
Shares repurchased by subsidiary
|
Ìý
|
Ìý
|
(2,018)
|
Ìý
|
Ìý—
|
Ìý
|
Ìý—
|
Ìý
|
(2,018)
|
Ìý
|
|
Taxes paid in lieu of shares issued for stock-based compensation
|
Ìý
|
Ìý
|
(54)
|
Ìý
|
Ìý—
|
Ìý
|
(26)
|
Ìý
|
(80)
|
Ìý
|
|
Other financing activities, net
|
Ìý
|
Ìý
|
Ìý—
|
Ìý
|
Ìý—
|
Ìý
|
Ìý5
|
Ìý
|
Ìý5
|
Ìý
|
|
Net cash provided (used) by financing activities
|
Ìý
|
Ìý
|
(1,123)
|
Ìý
|
70
|
Ìý
|
(373)
|
Ìý
|
(1,426)
|
Ìý
|
|
Net increase (decrease) in cash and cash equivalents
|
Ìý
|
Ìý
|
(36)
|
Ìý
|
Ìý2
|
Ìý
|
(446)
|
Ìý
|
(480)
|
Ìý
|
|
Cash and cash equivalents at beginning of period
|
Ìý
|
Ìý
|
148
|
Ìý
|
11
|
Ìý
|
522
|
Ìý
|
681
|
Ìý
|
|
Cash and cash equivalents at end of period
|
Ìý
|
$
|
112
|
Ìý
|
13
|
Ìý
|
76
|
Ìý
|
201
|
Ìý
|
Ìý
|