Information jvidÊÓƵ Liberty's Operating Segments (Tables)
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6 Months Ended |
Jun. 30, 2024 |
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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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Six months ended |
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​ |
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June 30, |
​ |
June 30, |
​ |
​ |
ÌýÌýÌýÌý |
2024 |
ÌýÌýÌýÌý |
2023 |
ÌýÌýÌýÌý |
2024 |
ÌýÌýÌýÌý |
2023 |
Ìý |
|
​ |
​ |
amountsÌýinÌýmillions |
​ |
Liberty SiriusXM Group |
​ |
​ |
​ |
Ìý |
​ |
Ìý |
​ |
Ìý |
​ |
​ |
Sirius XM Holdings: |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Subscriber |
​ |
$ |
1,658 |
​ |
1,726 |
​ |
3,338 |
Ìý |
3,417 |
​ |
Advertising |
​ |
Ìý |
443 |
​ |
444 |
​ |
845 |
Ìý |
819 |
​ |
Equipment |
​ |
​ |
47 |
​ |
47 |
​ |
97 |
​ |
93 |
​ |
Other |
​ |
​ |
30 |
​ |
33 |
​ |
60 |
​ |
65 |
​ |
Total Liberty SiriusXM Group |
​ |
​ |
2,178 |
​ |
2,250 |
​ |
4,340 |
​ |
4,394 |
​ |
Formula One Group |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Formula 1: |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Primary |
​ |
​ |
739 |
​ |
618 |
​ |
1,202 |
​ |
932 |
​ |
Other |
​ |
​ |
132 |
​ |
106 |
​ |
222 |
​ |
173 |
​ |
Corporate and other |
​ |
​ |
141 |
​ |
— |
​ |
185 |
​ |
— |
​ |
Intergroup elimination |
​ |
​ |
(24) |
​ |
— |
​ |
(34) |
​ |
— |
​ |
Total Formula One Group |
​ |
​ |
988 |
​ |
724 |
​ |
1,575 |
​ |
1,105 |
​ |
Braves Group |
​ |
Ìý |
​ |
Ìý |
​ |
Ìý |
​ |
Ìý |
​ |
​ |
Corporate and other: |
​ |
Ìý |
​ |
Ìý |
​ |
Ìý |
​ |
Ìý |
​ |
​ |
Baseball |
​ |
Ìý |
NA |
Ìý |
254 |
Ìý |
NA |
Ìý |
272 |
​ |
Mixed-Use Development |
​ |
Ìý |
NA |
Ìý |
16 |
Ìý |
NA |
Ìý |
29 |
​ |
Total Braves Group |
​ |
​ |
NA |
​ |
270 |
​ |
NA |
​ |
301 |
​ |
Consolidated Liberty |
​ |
$ |
3,166 |
​ |
3,244 |
Ìý |
5,915 |
Ìý |
5,800 |
​ |
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| Performance Measures |
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Three months ended |
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Six months ended |
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June 30, |
​ |
June 30, |
​ |
​ |
ÌýÌýÌýÌý |
2024 |
ÌýÌýÌýÌý |
2023 |
ÌýÌýÌýÌý |
2024 |
ÌýÌýÌýÌý |
2023 |
Ìý |
|
​ |
​ |
amountsÌýinÌýmillions |
​ |
Liberty SiriusXM Group |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Sirius XM Holdings |
​ |
$ |
688 |
Ìý |
702 |
Ìý |
1,323 |
Ìý |
1,327 |
​ |
Live Nation |
​ |
​ |
NA |
​ |
589 |
​ |
NA |
​ |
909 |
​ |
Corporate and other |
​ |
Ìý |
(9) |
Ìý |
(8) |
Ìý |
(19) |
Ìý |
(19) |
​ |
Eliminate equity method affiliate |
​ |
​ |
NA |
​ |
(589) |
​ |
NA |
​ |
(909) |
​ |
Total Liberty SiriusXM Group |
​ |
Ìý |
679 |
Ìý |
694 |
Ìý |
1,304 |
Ìý |
1,308 |
​ |
Formula One Group |
​ |
Ìý |
​ |
​ |
​ |
​ |
​ |
Ìý |
​ |
​ |
Formula 1 |
​ |
Ìý |
160 |
Ìý |
155 |
Ìý |
368 |
Ìý |
272 |
​ |
Corporate and other |
​ |
​ |
5 |
Ìý |
(14) |
​ |
(1) |
​ |
(26) |
​ |
Total Formula One Group |
​ |
​ |
165 |
Ìý |
141 |
​ |
367 |
​ |
246 |
​ |
Liberty Live Group |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Live Nation |
​ |
​ |
717 |
​ |
NA |
​ |
1,084 |
​ |
NA |
​ |
Corporate and other |
​ |
Ìý |
(1) |
Ìý |
NA |
Ìý |
(2) |
Ìý |
NA |
​ |
Eliminate equity method affiliate |
​ |
​ |
(717) |
​ |
NA |
​ |
(1,084) |
​ |
NA |
​ |
Total Liberty Live Group |
​ |
Ìý |
(1) |
Ìý |
NA |
Ìý |
(2) |
Ìý |
NA |
​ |
Braves Group |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Corporate and other |
​ |
Ìý |
NA |
Ìý |
42 |
Ìý |
NA |
Ìý |
11 |
​ |
Total Braves Group |
​ |
Ìý |
NA |
Ìý |
42 |
Ìý |
NA |
Ìý |
11 |
​ |
Consolidated Liberty |
​ |
$ |
843 |
Ìý |
877 |
Ìý |
1,669 |
Ìý |
1,565 |
​ |
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| Other Information By Segment |
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June 30, 2024 |
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ÌýÌýÌýÌý |
Total |
ÌýÌýÌýÌý |
Investments |
ÌýÌýÌýÌý |
Capital |
Ìý |
​ |
​ |
assets |
​ |
inÌýaffiliates |
​ |
expenditures |
​ |
|
​ |
​ |
amountsÌýinÌýmillions |
​ |
Liberty SiriusXM Group |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Sirius XM Holdings |
​ |
$ |
30,725 |
Ìý |
1,601 |
Ìý |
347 |
​ |
Corporate and other |
​ |
​ |
96 |
​ |
— |
​ |
— |
​ |
Total Liberty SiriusXM Group |
​ |
​ |
30,821 |
​ |
1,601 |
​ |
347 |
​ |
Formula One Group |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Formula 1 |
​ |
​ |
9,285 |
​ |
2 |
​ |
38 |
​ |
Corporate and other |
​ |
Ìý |
1,667 |
Ìý |
35 |
Ìý |
2 |
​ |
Intergroup elimination |
​ |
​ |
(142) |
​ |
— |
​ |
— |
​ |
Total Formula One Group |
​ |
​ |
10,810 |
​ |
37 |
​ |
40 |
​ |
Liberty Live Group |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Live Nation |
​ |
​ |
20,454 |
​ |
548 |
​ |
339 |
​ |
Corporate and other |
​ |
​ |
1,000 |
​ |
345 |
​ |
— |
​ |
Eliminate equity method affiliate |
​ |
​ |
(20,454) |
​ |
(548) |
​ |
(339) |
​ |
Total Liberty Live Group |
​ |
​ |
1,000 |
​ |
345 |
​ |
— |
​ |
Elimination |
​ |
​ |
1 |
​ |
— |
​ |
— |
​ |
Consolidated Liberty |
​ |
$ |
42,632 |
Ìý |
1,983 |
Ìý |
387 |
​ |
​
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| Reconciliation of Adjusted OIBDA to operating income (loss) and earnings (loss) |
​
|
|
|
|
|
|
|
|
|
|
|
​ |
​ |
Three months ended |
​ |
Six months ended |
​ |
​ |
​ |
June 30, |
​ |
June 30, |
​ |
​ |
ÌýÌýÌýÌý |
2024 |
ÌýÌýÌýÌý |
2023 |
ÌýÌýÌýÌý |
2024 |
ÌýÌýÌýÌý |
2023 |
Ìý |
|
​ |
​ |
amountsÌýinÌýmillions |
​ |
Adjusted OIBDA |
​ |
$ |
843 |
Ìý |
877 |
Ìý |
1,669 |
Ìý |
1,565 |
​ |
Impairment, restructuring and acquisition costs (note 8) |
​ |
​ |
(15) |
​ |
(19) |
​ |
(37) |
​ |
(51) |
​ |
Legal settlements and reserves |
​ |
​ |
— |
​ |
(24) |
​ |
— |
​ |
(24) |
​ |
Stock-based compensation |
​ |
Ìý |
(55) |
Ìý |
(54) |
Ìý |
(116) |
Ìý |
(110) |
​ |
Depreciation and amortization |
​ |
Ìý |
(245) |
Ìý |
(257) |
Ìý |
(486) |
Ìý |
(517) |
​ |
Operating income (loss) |
​ |
​ |
528 |
​ |
523 |
​ |
1,030 |
​ |
863 |
​ |
Interest expense |
​ |
Ìý |
(186) |
Ìý |
(200) |
Ìý |
(377) |
Ìý |
(396) |
​ |
Share of earnings (losses) of affiliates, net |
​ |
Ìý |
84 |
Ìý |
90 |
Ìý |
65 |
Ìý |
80 |
​ |
Realized and unrealized gains (losses) on financial instruments, net |
​ |
Ìý |
169 |
Ìý |
(96) |
Ìý |
166 |
Ìý |
(142) |
​ |
Other, net |
​ |
Ìý |
28 |
Ìý |
50 |
Ìý |
55 |
Ìý |
64 |
​ |
Earnings (loss) before income taxes |
​ |
$ |
623 |
Ìý |
367 |
Ìý |
939 |
Ìý |
469 |
​ |
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