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Annual report pursuant to Section 13 and 15(d)

Assets And Liabilities Measured At Fair Value (Tables)

v3.8.0.1
Assets And Liabilities Measured At Fair Value (Tables)
12 Months Ended
Dec. 31, 2017
Assets and Liabilities Measured at Fair Value Ìý
Assets and Liabilities Measured at Fair Value

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DecemberÌý31,Ìý2017

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DecemberÌý31,Ìý2016

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QuotedÌýprices

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SignificantÌýother

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QuotedÌýprices

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SignificantÌýother

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inÌýactiveÌýmarkets

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observable

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inÌýactiveÌýmarkets

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observable

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forÌýidenticalÌýassets

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inputs

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forÌýidenticalÌýassets

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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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$

804

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804

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Ìý—

ÌýÌýÌýÌý

289

ÌýÌýÌýÌý

289

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Ìý—

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Available-for-sale securities

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$

1,047

ÌýÌýÌýÌý

467

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580

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489

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489

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Ìý—

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Financial instrument assets

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$

369

ÌýÌýÌýÌý

19

ÌýÌýÌýÌý

350

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286

ÌýÌýÌýÌý

16

ÌýÌýÌýÌý

270

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Debt

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$

2,115

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Ìý—

ÌýÌýÌýÌý

2,115

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1,546

ÌýÌýÌýÌý

Ìý—

ÌýÌýÌýÌý

1,546

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Realized and Unrealized Gains (Losses) on Financial Instruments

Realized and unrealized gains (losses) on financial instruments are comprised of changes in the fair value of the following (amounts in millions):

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YearsÌýendedÌýDecemberÌý31,

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ÌýÌýÌýÌý

2017

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2016

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2015

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Fair Value Option Securities (a)

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$

(36)

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112

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(151)

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Debt measured at fair value (b)

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(126)

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(113)

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(5)

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Change in fair value of bond hedges (c)

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72

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37

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23

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Other derivatives

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Ìý2

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Ìý1

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(7)

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$

(88)

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37

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(140)

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(a)

Changes in unrealized gains (losses) on fair value option securities include SIRIUSÌýXM’s investment in Pandora’s SeriesÌýA Convertible Preferred Stock. See noteÌý7 for information related to the investment in Pandora.

(b)

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.

Contemporaneously with the issuance of the 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 the convertible notes, upon conversion of the notes. The bond hedges are marked to market based on the trading price of underlying SeriesÌýA Liberty SiriusXM, Liberty Braves and Liberty Formula One securities and other observable market data as the significant inputs (LevelÌý2). See noteÌý10 for additional discussion of the convertible notes and the bond hedges