Ā鶹app

Annual report pursuant to Section 13 and 15(d)

Long-Term Debt (Tables)

v3.19.3.a.u2
Long-Term Debt (Tables)
12 Months Ended
Dec. 31, 2019
Schedule of Long-term Debt Instruments

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ā€‹

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ā€‹

ā€‹

ā€‹

ā€‹

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Outstanding

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Ģż

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ĢżĢżĢżĢż

Principal

ĢżĢżĢżĢż

DecemberĢż31,

ĢżĢżĢżĢż

DecemberĢż31,

Ģż

ā€‹

ā€‹

DecemberĢż31,Ģż2019

ā€‹

2019

ā€‹

2018

Ģż

Ā鶹app SiriusXM Group

ā€‹

ā€‹

ā€‹

ā€‹

ā€‹

ā€‹

ā€‹

ā€‹

ā€‹

Corporate level notes and loans:

ā€‹

ā€‹

ā€‹

ā€‹

ā€‹

ā€‹

ā€‹

ā€‹

ā€‹

2.125% Exchangeable Senior Debentures due 2048 (1)

ā€‹

$

400

ā€‹

ā€‹

423

ā€‹

372

ā€‹

2.75% Exchangeable Senior Debentures due 2049 (1)

ā€‹

ā€‹

604

ā€‹

ā€‹

632

ā€‹

ā€”

ā€‹

Sirius XM Holdings Margin Loan

ā€‹

ā€‹

350

Ģż

ā€‹

350

Ģż

600

ā€‹

Subsidiary notes and loans:

ā€‹

ā€‹

ā€‹

ā€‹

ā€‹

ā€‹

ā€‹

ā€‹

ā€‹

Sirius XM 3.875% Senior Notes due 2022

ā€‹

ā€‹

1,000

ā€‹

ā€‹

995

ā€‹

994

ā€‹

Sirius XM 4.625% Senior Notes due 2023

ā€‹

Ģż

500

Ģż

ā€‹

498

Ģż

497

ā€‹

Sirius XM 6% Senior Notes due 2024

ā€‹

ā€‹

ā€”

ā€‹

ā€‹

ā€”

ā€‹

1,490

ā€‹

Sirius XM 4.625% Senior Notes due 2024

ā€‹

ā€‹

1,500

ā€‹

ā€‹

1,485

ā€‹

ā€”

ā€‹

Sirius XM 5.375% Senior Notes due 2025

ā€‹

ā€‹

1,000

ā€‹

ā€‹

993

ā€‹

992

ā€‹

Sirius XM 5.375% Senior Notes due 2026

ā€‹

ā€‹

1,000

ā€‹

ā€‹

992

ā€‹

991

ā€‹

Sirius XM 5.0% Senior Notes due 2027

ā€‹

ā€‹

1,500

ā€‹

ā€‹

1,488

ā€‹

1,487

ā€‹

Sirius XM 5.50% Senior Notes due 2029

ā€‹

ā€‹

1,250

ā€‹

ā€‹

1,236

ā€‹

ā€”

ā€‹

Pandora 1.75% Convertible Senior Notes due 2020

ā€‹

ā€‹

1

ā€‹

ā€‹

1

ā€‹

ā€”

ā€‹

Pandora 1.75% Convertible Senior Notes due 2023

ā€‹

ā€‹

193

ā€‹

ā€‹

163

ā€‹

ā€”

ā€‹

Sirius XM Senior Secured Revolving Credit Facility

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Ģż

ā€”

Ģż

ā€‹

ā€”

Ģż

439

ā€‹

Sirius XM Holdings leases

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ā€‹

ā€”

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ā€‹

ā€”

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5

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Deferred financing costs

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ā€‹

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(11)

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(9)

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Total Ā鶹app SiriusXM Group

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ā€‹

9,298

ā€‹

ā€‹

9,245

ā€‹

7,858

ā€‹

Braves Group

ā€‹

ā€‹

ā€‹

ā€‹

ā€‹

ā€‹

ā€‹

ā€‹

ā€‹

Subsidiary notes and loans:

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ā€‹

ā€‹

ā€‹

ā€‹

ā€‹

ā€‹

ā€‹

ā€‹

Notes and loans

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ā€‹

559

ā€‹

ā€‹

559

ā€‹

494

ā€‹

Deferred financing costs

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ā€‹

ā€‹

ā€‹

ā€‹

(5)

ā€‹

(3)

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Total Braves Group

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ā€‹

559

ā€‹

ā€‹

554

ā€‹

491

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Formula One Group

ā€‹

ā€‹

ā€‹

ā€‹

ā€‹

ā€‹

ā€‹

ā€‹

ā€‹

Corporate level notes and loans:

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ā€‹

ā€‹

ā€‹

ā€‹

ā€‹

ā€‹

ā€‹

ā€‹

1.375% Cash Convertible Notes due 2023 (1)

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ā€‹

1,000

Ģż

ā€‹

1,322

Ģż

1,062

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1% Cash Convertible Notes due 2023 (1)

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ā€‹

450

ā€‹

ā€‹

585

ā€‹

463

ā€‹

2.25% Exchangeable Senior Debentures due 2046 (1)

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ā€‹

208

ā€‹

ā€‹

257

ā€‹

209

ā€‹

2.25% Exchangeable Senior Debentures due 2048 (1)

ā€‹

ā€‹

385

ā€‹

ā€‹

459

ā€‹

381

ā€‹

Live Nation Margin Loan

ā€‹

ā€‹

130

ā€‹

ā€‹

130

ā€‹

ā€”

ā€‹

Other

ā€‹

ā€‹

32

ā€‹

ā€‹

32

ā€‹

33

ā€‹

Subsidiary notes and loans:

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ā€‹

ā€‹

ā€‹

ā€‹

ā€‹

ā€‹

ā€‹

ā€‹

Senior Loan Facility

ā€‹

ā€‹

2,902

ā€‹

ā€‹

2,907

ā€‹

2,910

ā€‹

Deferred financing costs

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ā€‹

ā€‹

ā€‹

ā€‹

(15)

ā€‹

(19)

ā€‹

Total Formula One Group

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ā€‹

5,107

Ģż

ā€‹

5,677

Ģż

5,039

ā€‹

Total debt

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$

14,964

ā€‹

ā€‹

15,476

ā€‹

13,388

ā€‹

Less debt classified as current

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Ģż

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(60)

Ģż

(17)

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Total long-term debt

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ā€‹

ā€‹

ā€‹

$

15,416

Ģż

13,371

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(1) Measured at fair value

Schedule of Braves Holdings Debt

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°ä²¹°ł°ł²ā¾±²Ō²µĢż±¹²¹±ō³Ü±š

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As of December 31, 2019

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DecemberĢż31,

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DecemberĢż31,

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Borrowing

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Weighted avg

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Maturity

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ā€‹

2019

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2018

Ģż

Capacity

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interest rate

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Date

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amounts in millions

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ā€‹

ā€‹

ā€‹

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Operating credit facilities

$

45

ā€‹

17

ā€‹

185

ā€‹

2.69%

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various

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Ballpark funding

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ā€‹

Ģż

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ā€‹

ā€‹

ā€‹

ā€‹

ā€‹

ā€‹

ā€‹

Term loan

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49

ā€‹

52

ā€‹

NA

ā€‹

3.07%

ā€‹

August 2021

ā€‹

Senior secured note

ā€‹

190

ā€‹

195

ā€‹

NA

ā€‹

3.77%

ā€‹

September 2041

ā€‹

Floating rate notes

ā€‹

65

ā€‹

70

ā€‹

NA

ā€‹

3.80%

ā€‹

September 2029

ā€‹

Mixed-use credit facilities and loans

ā€‹

180

ā€‹

160

ā€‹

307

ā€‹

4.12%

ā€‹

various

ā€‹

Spring training credit facility

ā€‹

30

ā€‹

ā€”

ā€‹

39

ā€‹

2.82%

ā€‹

December 2022

ā€‹

Total Braves Holdings

$

559

ā€‹

494

ā€‹

ā€‹

ā€‹

ā€‹

ā€‹

ā€‹

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Fair Value of Debt

The fair value, based on quoted market prices of the same instruments but not considered to be active markets (LevelĢż2), of Sirius XM Holdingsā€™ publicly traded debt securities is as follows (amounts in millions):

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ā€‹

ā€‹

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ā€‹

ĢżĢżĢżĢż

DecemberĢż31,

Ģż

ā€‹

ā€‹

2019

Ģż

Sirius XM 3.875% Senior Notes due 2022

ā€‹

$

1,021

ā€‹

Sirius XM 4.625% Senior Notes due 2023

ā€‹

$

508

ā€‹

Sirius XM 4.625% Senior Notes due 2024

ā€‹

$

1,569

ā€‹

Sirius XM 5.375% Senior Notes due 2025

ā€‹

$

1,036

ā€‹

Sirius XM 5.375% Senior Notes due 2026

ā€‹

$

1,063

ā€‹

Sirius XM 5.0% Senior Notes due 2027

ā€‹

$

1,584

ā€‹

Sirius XM 5.50% Senior Notes due 2029

ā€‹

$

1,355

ā€‹

Pandora 1.75% Senior Notes due 2020

ā€‹

$

1

ā€‹

Pandora 1.75% Senior Notes due 2023

ā€‹

$

239

ā€‹

Schedule of Maturities of Long-term Debt

The annual principal maturities of outstanding debt obligations for each of the next five years is as follows (amounts in millions):

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ā€‹

ā€‹

ā€‹

ā€‹

2020

ĢżĢżĢżĢż

$

67

ā€‹

2021

ā€‹

$

546

ā€‹

2022

ā€‹

$

1,049

ā€‹

2023

ā€‹

$

2,235

ā€‹

2024

ā€‹

$

4,454

ā€‹