ΒιΆΉapp

Annual report pursuant to Section 13 and 15(d)

Financial Information for Tracking Stock Groups (Tables)

v3.19.3.a.u2
Financial Information for Tracking Stock Groups (Tables)
 12 Months Ended
Dec. 31, 2019
Condensed Balance Sheet

BALANCE SHEET INFORMATION

December 31, 2019

(unaudited)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Attributed (note 1)

​

​

​

​

​

​

​

ΒιΆΉapp

​

​

​

​

​

​

​

​

​

​

​

SiriusXM

​

Braves

​

Formula One

​

Inter-Group

​

Consolidated

​

​

ΜύΜύΜύΜύ

Group

​

Group

​

Group

​

Eliminations

​

ΒιΆΉapp

ΜύΜύΜύΜύ

​

​

²Ή³Ύ΄Η³ά²Τ³Ω²υΜύΎ±²ΤΜύ³ΎΎ±±τ±τΎ±΄Η²Τ²υ

​

Assets

​

​

​

​

​

​

​

​

​

​

​

​

Current assets:

​

​

​

​

​

​

​

​

​

​

​

​

Cash and cash equivalents

​

$

493

​

142

​

587

​

β€”

​

1,222

Μύ

Trade and other receivables, net

​

Μύ

670

​

28

​

69

​

β€”

​

767

Μύ

Other current assets

​

Μύ

227

​

97

​

92

​

β€”

​

416

Μύ

Total current assets

​

Μύ

1,390

​

267

​

748

​

β€”

​

2,405

Μύ

Intergroup interests (note 1)

​

​

β€”

​

β€”

​

292

​

(292)

​

β€”

​

Investments in affiliates, accounted for using the equity method (note 1)

​

Μύ

644

​

99

​

882

​

β€”

​

1,625

Μύ

​

​

​

​

​

​

​

​

​

​

​

​

​

Property and equipment, at cost

​

Μύ

2,686

​

923

​

171

​

β€”

​

3,780

Μύ

Accumulated depreciation

​

Μύ

(1,331)

​

(128)

​

(59)

​

β€”

​

(1,518)

Μύ

​

​

Μύ

1,355

​

795

​

112

​

β€”

​

2,262

Μύ

​

​

​

​

​

​

​

​

​

​

​

​

​

Intangible assets not subject to amortization

​

​

​

​

​

​

​

​

​

​

​

​

Goodwill

​

Μύ

15,803

​

180

​

3,956

​

β€”

​

19,939

Μύ

FCC licenses

​

Μύ

8,600

​

β€”

​

β€”

​

β€”

​

8,600

Μύ

Other

​

Μύ

1,262

​

143

​

β€”

​

β€”

​

1,405

Μύ

​

​

Μύ

25,665

​

323

​

3,956

​

β€”

​

29,944

Μύ

Intangible assets subject to amortization, net

​

Μύ

1,603

​

34

​

4,303

​

β€”

​

5,940

Μύ

Other assets

​

Μύ

764

​

75

​

1,212

​

(38)

​

2,013

Μύ

Total assets

​

$

31,421

​

1,593

​

11,505

​

(330)

​

44,189

Μύ

​

​

​

​

​

​

​

​

​

​

​

​

​

Liabilities and Equity

​

​

​

​

​

​

​

​

​

​

​

​

Current liabilities:

​

​

​

​

​

​

​

​

​

​

​

​

Intergroup payable (receivable) (note 4)

​

$

(23)

​

(9)

​

32

​

β€”

​

β€”

​

Accounts payable and accrued liabilities

​

​

1,294

Μύ

63

​

264

​

β€”

​

1,621

​

Current portion of debt (noteΜύ1)

​

Μύ

1

Μύ

59

​

β€”

​

β€”

​

60

​

Deferred revenue

​

Μύ

1,930

Μύ

70

​

113

​

β€”

​

2,113

​

Other current liabilities

​

Μύ

72

Μύ

5

​

17

​

β€”

​

94

​

Total current liabilities

​

Μύ

3,274

Μύ

188

​

426

​

β€”

​

3,888

​

Long-term debt (note 1)

​

Μύ

9,244

Μύ

495

​

5,677

​

β€”

​

15,416

​

Deferred income tax liabilities (note 3)

​

Μύ

1,890

Μύ

61

​

β€”

​

(38)

​

1,913

​

Redeemable intergroup interests (note 1)

​

​

24

​

268

​

β€”

​

(292)

​

β€”

​

Other liabilities

​

Μύ

683

Μύ

203

​

161

​

β€”

​

1,047

​

Total liabilities

​

Μύ

15,115

Μύ

1,215

​

6,264

​

(330)

​

22,264

​

Equity / Attributed net assets

​

Μύ

10,678

Μύ

378

​

5,239

​

β€”

​

16,295

​

Noncontrolling interests in equity of subsidiaries

​

Μύ

5,628

Μύ

β€”

​

2

​

β€”

​

5,630

​

Total liabilities and equity

​

$

31,421

Μύ

1,593

​

11,505

​

(330)

​

44,189

​

​

BALANCE SHEET INFORMATION

December 31, 2018

(unaudited)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Attributed (note 1)

​

​

​

​

​

​

​

ΒιΆΉapp

​

​

​

​

​

​

​

​

​

​

​

SiriusXM

​

Braves

​

Formula One

​

Inter-Group

​

Consolidated

​

​

ΜύΜύΜύΜύ

Group

​

Group

​

Group

​

Eliminations

​

ΒιΆΉapp

ΜύΜύΜύΜύ

​

​

²Ή³Ύ΄Η³ά²Τ³Ω²υΜύΎ±²ΤΜύ³ΎΎ±±τ±τΎ±΄Η²Τ²υ

​

Assets

​

​

​

​

​

​

​

​

​

​

​

​

Current assets:

​

​

​

​

​

​

​

​

​

​

​

​

Cash and cash equivalents

​

$

91

​

107

​

160

​

β€”

​

358

Μύ

Trade and other receivables, net

​

Μύ

233

​

21

​

110

​

β€”

​

364

Μύ

Other current assets

​

Μύ

191

​

129

​

40

​

β€”

​

360

Μύ

Total current assets

​

Μύ

515

​

257

​

310

​

β€”

​

1,082

Μύ

Intergroup interests (note 1)

​

Μύ

β€”

​

β€”

​

226

​

(226)

​

β€”

Μύ

Investments in affiliates, accounted for using the equity method (noteΜύ1)

​

​

629

​

92

​

920

​

β€”

​

1,641

​

​

​

Μύ

​

​

​

​

​

​

​

​

​

Μύ

Property and equipment, at cost

​

Μύ

2,450

​

1,137

​

178

​

β€”

​

3,765

Μύ

Accumulated depreciation

​

Μύ

(1,112)

​

(96)

​

(88)

​

β€”

​

(1,296)

Μύ

​

​

​

1,338

​

1,041

​

90

​

β€”

​

2,469

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Intangible assets not subject to amortization

​

Μύ

​

​

​

​

​

​

​

​

​

Μύ

Goodwill

​

Μύ

14,250

​

180

​

3,956

​

β€”

​

18,386

Μύ

FCC licenses

​

Μύ

8,600

​

β€”

​

β€”

​

β€”

​

8,600

Μύ

Other

​

Μύ

931

​

143

​

β€”

​

β€”

​

1,074

Μύ

​

​

Μύ

23,781

​

323

​

3,956

​

β€”

​

28,060

Μύ

Intangible assets subject to amortization, net

​

Μύ

942

​

37

​

4,736

​

β€”

​

5,715

Μύ

Other assets

​

​

1,087

​

55

​

719

​

β€”

​

1,861

Μύ

Total assets

​

$

28,292

​

1,805

​

10,957

​

(226)

​

40,828

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Liabilities and Equity

​

​

​

​

​

​

​

​

​

​

​

​

Current liabilities:

​

​

​

​

​

​

​

​

​

​

​

​

Intergroup payable (receivable) (note 4)

​

$

(4)

​

(21)

​

25

​

β€”

​

β€”

​

Accounts payable and accrued liabilities

​

Μύ

854

Μύ

29

​

233

​

β€”

​

1,116

​

Current portion of debt (noteΜύ1)

​

Μύ

3

Μύ

14

​

β€”

​

β€”

​

17

​

Deferred revenue

​

Μύ

1,932

Μύ

54

​

93

​

β€”

​

2,079

​

Other current liabilities

​

Μύ

15

Μύ

8

​

9

​

β€”

​

32

​

Total current liabilities

​

Μύ

2,800

Μύ

84

​

360

​

β€”

​

3,244

​

Long-term debt (note 1)

​

Μύ

7,855

Μύ

477

​

5,039

​

β€”

​

13,371

​

Deferred income tax liabilities (note 3)

​

Μύ

1,673

Μύ

69

​

(91)

​

β€”

​

1,651

​

Redeemable intergroup interests (note 1)

​

Μύ

β€”

​

226

​

β€”

​

(226)

​

β€”

​

Other liabilities

​

Μύ

257

Μύ

511

​

96

​

β€”

​

864

​

Total liabilities

​

Μύ

12,585

Μύ

1,367

​

5,404

​

(226)

​

19,130

​

Equity / Attributed net assets

​

​

10,599

Μύ

446

​

5,550

​

β€”

​

16,595

​

Noncontrolling interests in equity of subsidiaries

​

​

5,108

Μύ

(8)

​

3

​

β€”

​

5,103

​

Total liabilities and equity

​

$

28,292

Μύ

1,805

​

10,957

​

(226)

​

40,828

​
Condensed Statement of Operations

STATEMENT OF OPERATIONS INFORMATION

December 31, 2019

(unaudited)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Attributed (note 1)

​

​

​

​

​

ΒιΆΉapp

​

​

​

​

​

​

​

​

​

SiriusXM

​

Braves

​

Formula One

​

Consolidated

​

​

​

Group

​

Group

​

Group

​

ΒιΆΉapp

​

​

​

amounts in millions

​

Revenue:

​

​

​

​

​

​

​

​

​

​

Sirius XM Holdings revenue

​

$

7,794

Μύ

β€”

​

β€”

​

7,794

​

Formula 1 revenue

​

​

β€”

​

β€”

​

2,022

​

2,022

​

Other revenue

​

Μύ

β€”

Μύ

476

​

β€”

​

476

​

Total revenue

​

Μύ

7,794

Μύ

476

​

2,022

​

10,292

​

Operating costs and expenses, including stock-based compensation (note 2):

​

​

​

​

​

​

​

​

​

​

Cost of services (exclusive of depreciation shown separately below):

​

​

​

​

​

​

​

​

​

​

Revenue share and royalties

​

Μύ

2,291

Μύ

β€”

​

β€”

​

2,291

​

Programming and content

​

Μύ

462

Μύ

β€”

​

β€”

​

462

​

Customer service and billing

​

Μύ

475

Μύ

β€”

​

β€”

​

475

​

Other

​

Μύ

199

Μύ

β€”

​

β€”

​

199

​

Cost of Formula 1 revenue

​

​

β€”

Μύ

β€”

​

1,394

​

1,394

​

Subscriber acquisition costs

​

Μύ

427

Μύ

β€”

​

β€”

​

427

​

Other operating expenses

​

Μύ

280

Μύ

340

​

β€”

​

620

​

Selling, general and administrative

​

Μύ

1,495

Μύ

104

​

210

​

1,809

​

Acquisition and other related costs

​

​

84

Μύ

β€”

​

β€”

​

84

​

Depreciation and amortization

​

Μύ

537

Μύ

71

​

453

​

1,061

​

​

​

Μύ

6,250

Μύ

515

​

2,057

​

8,822

​

Operating income (loss)

​

Μύ

1,544

Μύ

(39)

​

(35)

​

1,470

​

Other income (expense):

​

​

​

​

​

​

​

​

​

​

Interest expense

​

Μύ

(435)

Μύ

(27)

​

(195)

​

(657)

​

Share of earnings (losses) of affiliates, net

​

Μύ

(24)

Μύ

18

​

12

​

6

​

Unrealized gain/(loss) on inter-group interests

​

​

β€”

​

(42)

​

42

​

β€”

​

Realized and unrealized gains (losses) on financial instruments, net

​

Μύ

(41)

Μύ

(4)

​

(270)

​

(315)

​

Other, net

​

Μύ

(38)

Μύ

2

​

45

​

9

​

​

​

Μύ

(538)

Μύ

(53)

​

(366)

​

(957)

​

Earnings (loss) before income taxes

​

Μύ

1,006

Μύ

(92)

​

(401)

​

513

​

Income tax (expense) benefit (note 3)

​

Μύ

(271)

Μύ

15

​

90

​

(166)

​

Net earnings (loss)

​

Μύ

735

Μύ

(77)

​

(311)

​

347

​

Less net earnings (loss) attributable to the noncontrolling interests

​

Μύ

241

Μύ

β€”

​

β€”

​

241

​

Net earnings (loss) attributable to ΒιΆΉapp stockholders

​

$

494

Μύ

(77)

​

(311)

​

106

​

​

​

STATEMENT OF OPERATIONS INFORMATION

December 31, 2018

(unaudited)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Attributed (note 1)

​

​

​

​

​

ΒιΆΉapp

​

​

​

​

​

​

​

​

​

SiriusXM

​

Braves

​

Formula One

​

Consolidated

​

​

​

Group

​

Group

​

Group

​

ΒιΆΉapp

​

​

​

amounts in millions

​

Revenue:

​

​

​

​

​

​

​

​

​

​

Sirius XM Holdings revenue

​

$

5,771

Μύ

β€”

​

β€”

​

5,771

​

Formula 1 revenue

​

​

β€”

​

β€”

​

1,827

​

1,827

​

Other revenue

​

Μύ

β€”

Μύ

442

​

β€”

​

442

​

Total revenue

​

Μύ

5,771

Μύ

442

​

1,827

​

8,040

​

Operating costs and expenses, including stock-based compensation (note 2):

​

​

​

​

​

​

​

​

​

​

Cost of services (exclusive of depreciation shown separately below):

​

​

​

​

​

​

​

​

​

​

Revenue share and royalties

​

Μύ

1,394

Μύ

β€”

​

β€”

​

1,394

​

Programming and content

​

Μύ

406

Μύ

β€”

​

β€”

​

406

​

Customer service and billing

​

Μύ

382

Μύ

β€”

​

β€”

​

382

​

Other

​

Μύ

126

Μύ

β€”

​

β€”

​

126

​

Cost of Formula 1 revenue

​

​

β€”

Μύ

β€”

​

1,273

​

1,273

​

Subscriber acquisition costs

​

Μύ

470

Μύ

β€”

​

β€”

​

470

​

Other operating expenses

​

Μύ

123

Μύ

265

​

β€”

​

388

​

Selling, general and administrative

​

Μύ

878

Μύ

100

​

204

​

1,182

​

Acquisition and other related costs

​

​

3

​

β€”

​

β€”

​

3

​

Depreciation and amortization

​

Μύ

369

Μύ

76

​

460

​

905

​

​

​

Μύ

4,151

Μύ

441

​

1,937

​

6,529

​

Operating income (loss)

​

Μύ

1,620

Μύ

1

​

(110)

​

1,511

​

Other income (expense):

​

​

​

​

​

​

​

​

​

​

Interest expense

​

Μύ

(388)

Μύ

(26)

​

(192)

​

(606)

​

Share of earnings (losses) of affiliates, net

​

Μύ

(11)

Μύ

12

​

17

​

18

​

Unrealized gain/(loss) on inter-group interests

​

​

β€”

​

(24)

​

24

​

β€”

​

Realized and unrealized gains (losses) on financial instruments, net

​

Μύ

(1)

Μύ

(2)

​

43

​

40

​

Other, net

​

Μύ

25

Μύ

35

​

18

​

78

​

​

​

Μύ

(375)

Μύ

(5)

​

(90)

​

(470)

​

Earnings (loss) before income taxes

​

Μύ

1,245

Μύ

(4)

​

(200)

​

1,041

​

Income tax (expense) benefit (note 3)

​

Μύ

(241)

Μύ

15

​

50

​

(176)

​

Net earnings (loss)

​

Μύ

1,004

Μύ

11

​

(150)

​

865

​

Less net earnings (loss) attributable to the noncontrolling interests

​

Μύ

328

Μύ

6

​

β€”

​

334

​

Net earnings (loss) attributable to ΒιΆΉapp stockholders

​

$

676

Μύ

5

​

(150)

​

531

​

​

STATEMENT OF OPERATIONS INFORMATION

December 31, 2017

(unaudited)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Attributed (note 1)

​

​

​

​

​

ΒιΆΉapp

​

​

​

​

​

​

​

​

​

SiriusXM

​

Braves

​

Formula One

​

Consolidated

​

​

​

Group

​

Group

​

Group

​

ΒιΆΉapp

​

​

​

amounts in millions

​

Revenue:

​

​

​

​

​

​

​

​

​

​

SIRIUS XM Holdings revenue

​

$

5,425

Μύ

β€”

​

β€”

​

5,425

​

Formula 1 revenue

​

​

β€”

​

β€”

​

1,783

​

1,783

​

Other revenue

​

Μύ

β€”

Μύ

386

​

β€”

​

386

​

Total revenue

​

Μύ

5,425

Μύ

386

​

1,783

​

7,594

​

Operating costs and expenses, including stock-based compensation (note 2):

​

​

​

​

​

​

​

​

​

​

Cost of services (exclusive of depreciation shown separately below):

​

​

​

​

​

​

​

​

​

​

Revenue share and royalties

​

Μύ

1,210

Μύ

β€”

​

β€”

​

1,210

​

Programming and content

​

Μύ

388

Μύ

β€”

​

β€”

​

388

​

Customer service and billing

​

Μύ

385

Μύ

β€”

​

β€”

​

385

​

Other

​

Μύ

119

Μύ

β€”

​

β€”

​

119

​

Cost of Formula 1 revenue

​

​

β€”

​

β€”

​

1,219

​

1,219

​

Subscriber acquisition costs

​

Μύ

499

Μύ

β€”

​

β€”

​

499

​

Other operating expenses

​

Μύ

113

Μύ

296

​

β€”

​

409

​

Selling, general and administrative

​

Μύ

812

Μύ

136

​

199

​

1,147

​

Depreciation and amortization

​

Μύ

352

Μύ

67

​

405

​

824

​

​

​

Μύ

3,878

Μύ

499

​

1,823

​

6,200

​

Operating income (loss)

​

Μύ

1,547

Μύ

(113)

​

(40)

​

1,394

​

Other income (expense):

​

​

​

​

​

​

​

​

​

​

Interest expense

​

Μύ

(356)

Μύ

(15)

​

(220)

​

(591)

​

Share of earnings (losses) of affiliates, net

​

Μύ

29

Μύ

78

​

(3)

​

104

​

Unrealized gain/(loss) on inter-group interests

​

​

β€”

​

(15)

​

15

​

β€”

​

Realized and unrealized gains (losses) on financial instruments, net

​

Μύ

(16)

Μύ

β€”

​

(72)

​

(88)

​

Other, net

​

Μύ

(11)

Μύ

3

​

16

​

8

​

​

​

Μύ

(354)

Μύ

51

​

(264)

​

(567)

​

Earnings (loss) before income taxes

​

Μύ

1,193

Μύ

(62)

​

(304)

​

827

​

Income tax (expense) benefit (note 3)

​

Μύ

466

Μύ

36

​

561

​

1,063

​

Net earnings (loss)

​

Μύ

1,659

Μύ

(26)

​

257

​

1,890

​

Less net earnings (loss) attributable to the noncontrolling interests

​

Μύ

535

Μύ

(1)

​

2

​

536

​

Net earnings (loss) attributable to ΒιΆΉapp stockholders

​

$

1,124

Μύ

(25)

​

255

​

1,354

​
Condensed Statement of Cash Flows

BALANCE SHEET INFORMATION

December 31, 2019

(unaudited)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Attributed (note 1)

​

​

​

​

​

​

​

ΒιΆΉapp

​

​

​

​

​

​

​

​

​

​

​

SiriusXM

​

Braves

​

Formula One

​

Inter-Group

​

Consolidated

​

​

ΜύΜύΜύΜύ

Group

​

Group

​

Group

​

Eliminations

​

ΒιΆΉapp

ΜύΜύΜύΜύ

​

​

²Ή³Ύ΄Η³ά²Τ³Ω²υΜύΎ±²ΤΜύ³ΎΎ±±τ±τΎ±΄Η²Τ²υ

​

Assets

​

​

​

​

​

​

​

​

​

​

​

​

Current assets:

​

​

​

​

​

​

​

​

​

​

​

​

Cash and cash equivalents

​

$

493

​

142

​

587

​

β€”

​

1,222

Μύ

Trade and other receivables, net

​

Μύ

670

​

28

​

69

​

β€”

​

767

Μύ

Other current assets

​

Μύ

227

​

97

​

92

​

β€”

​

416

Μύ

Total current assets

​

Μύ

1,390

​

267

​

748

​

β€”

​

2,405

Μύ

Intergroup interests (note 1)

​

​

β€”

​

β€”

​

292

​

(292)

​

β€”

​

Investments in affiliates, accounted for using the equity method (note 1)

​

Μύ

644

​

99

​

882

​

β€”

​

1,625

Μύ

​

​

​

​

​

​

​

​

​

​

​

​

​

Property and equipment, at cost

​

Μύ

2,686

​

923

​

171

​

β€”

​

3,780

Μύ

Accumulated depreciation

​

Μύ

(1,331)

​

(128)

​

(59)

​

β€”

​

(1,518)

Μύ

​

​

Μύ

1,355

​

795

​

112

​

β€”

​

2,262

Μύ

​

​

​

​

​

​

​

​

​

​

​

​

​

Intangible assets not subject to amortization

​

​

​

​

​

​

​

​

​

​

​

​

Goodwill

​

Μύ

15,803

​

180

​

3,956

​

β€”

​

19,939

Μύ

FCC licenses

​

Μύ

8,600

​

β€”

​

β€”

​

β€”

​

8,600

Μύ

Other

​

Μύ

1,262

​

143

​

β€”

​

β€”

​

1,405

Μύ

​

​

Μύ

25,665

​

323

​

3,956

​

β€”

​

29,944

Μύ

Intangible assets subject to amortization, net

​

Μύ

1,603

​

34

​

4,303

​

β€”

​

5,940

Μύ

Other assets

​

Μύ

764

​

75

​

1,212

​

(38)

​

2,013

Μύ

Total assets

​

$

31,421

​

1,593

​

11,505

​

(330)

​

44,189

Μύ

​

​

​

​

​

​

​

​

​

​

​

​

​

Liabilities and Equity

​

​

​

​

​

​

​

​

​

​

​

​

Current liabilities:

​

​

​

​

​

​

​

​

​

​

​

​

Intergroup payable (receivable) (note 4)

​

$

(23)

​

(9)

​

32

​

β€”

​

β€”

​

Accounts payable and accrued liabilities

​

​

1,294

Μύ

63

​

264

​

β€”

​

1,621

​

Current portion of debt (noteΜύ1)

​

Μύ

1

Μύ

59

​

β€”

​

β€”

​

60

​

Deferred revenue

​

Μύ

1,930

Μύ

70

​

113

​

β€”

​

2,113

​

Other current liabilities

​

Μύ

72

Μύ

5

​

17

​

β€”

​

94

​

Total current liabilities

​

Μύ

3,274

Μύ

188

​

426

​

β€”

​

3,888

​

Long-term debt (note 1)

​

Μύ

9,244

Μύ

495

​

5,677

​

β€”

​

15,416

​

Deferred income tax liabilities (note 3)

​

Μύ

1,890

Μύ

61

​

β€”

​

(38)

​

1,913

​

Redeemable intergroup interests (note 1)

​

​

24

​

268

​

β€”

​

(292)

​

β€”

​

Other liabilities

​

Μύ

683

Μύ

203

​

161

​

β€”

​

1,047

​

Total liabilities

​

Μύ

15,115

Μύ

1,215

​

6,264

​

(330)

​

22,264

​

Equity / Attributed net assets

​

Μύ

10,678

Μύ

378

​

5,239

​

β€”

​

16,295

​

Noncontrolling interests in equity of subsidiaries

​

Μύ

5,628

Μύ

β€”

​

2

​

β€”

​

5,630

​

Total liabilities and equity

​

$

31,421

Μύ

1,593

​

11,505

​

(330)

​

44,189

​

​

BALANCE SHEET INFORMATION

December 31, 2018

(unaudited)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Attributed (note 1)

​

​

​

​

​

​

​

ΒιΆΉapp

​

​

​

​

​

​

​

​

​

​

​

SiriusXM

​

Braves

​

Formula One

​

Inter-Group

​

Consolidated

​

​

ΜύΜύΜύΜύ

Group

​

Group

​

Group

​

Eliminations

​

ΒιΆΉapp

ΜύΜύΜύΜύ

​

​

²Ή³Ύ΄Η³ά²Τ³Ω²υΜύΎ±²ΤΜύ³ΎΎ±±τ±τΎ±΄Η²Τ²υ

​

Assets

​

​

​

​

​

​

​

​

​

​

​

​

Current assets:

​

​

​

​

​

​

​

​

​

​

​

​

Cash and cash equivalents

​

$

91

​

107

​

160

​

β€”

​

358

Μύ

Trade and other receivables, net

​

Μύ

233

​

21

​

110

​

β€”

​

364

Μύ

Other current assets

​

Μύ

191

​

129

​

40

​

β€”

​

360

Μύ

Total current assets

​

Μύ

515

​

257

​

310

​

β€”

​

1,082

Μύ

Intergroup interests (note 1)

​

Μύ

β€”

​

β€”

​

226

​

(226)

​

β€”

Μύ

Investments in affiliates, accounted for using the equity method (noteΜύ1)

​

​

629

​

92

​

920

​

β€”

​

1,641

​

​

​

Μύ

​

​

​

​

​

​

​

​

​

Μύ

Property and equipment, at cost

​

Μύ

2,450

​

1,137

​

178

​

β€”

​

3,765

Μύ

Accumulated depreciation

​

Μύ

(1,112)

​

(96)

​

(88)

​

β€”

​

(1,296)

Μύ

​

​

​

1,338

​

1,041

​

90

​

β€”

​

2,469

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Intangible assets not subject to amortization

​

Μύ

​

​

​

​

​

​

​

​

​

Μύ

Goodwill

​

Μύ

14,250

​

180

​

3,956

​

β€”

​

18,386

Μύ

FCC licenses

​

Μύ

8,600

​

β€”

​

β€”

​

β€”

​

8,600

Μύ

Other

​

Μύ

931

​

143

​

β€”

​

β€”

​

1,074

Μύ

​

​

Μύ

23,781

​

323

​

3,956

​

β€”

​

28,060

Μύ

Intangible assets subject to amortization, net

​

Μύ

942

​

37

​

4,736

​

β€”

​

5,715

Μύ

Other assets

​

​

1,087

​

55

​

719

​

β€”

​

1,861

Μύ

Total assets

​

$

28,292

​

1,805

​

10,957

​

(226)

​

40,828

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Liabilities and Equity

​

​

​

​

​

​

​

​

​

​

​

​

Current liabilities:

​

​

​

​

​

​

​

​

​

​

​

​

Intergroup payable (receivable) (note 4)

​

$

(4)

​

(21)

​

25

​

β€”

​

β€”

​

Accounts payable and accrued liabilities

​

Μύ

854

Μύ

29

​

233

​

β€”

​

1,116

​

Current portion of debt (noteΜύ1)

​

Μύ

3

Μύ

14

​

β€”

​

β€”

​

17

​

Deferred revenue

​

Μύ

1,932

Μύ

54

​

93

​

β€”

​

2,079

​

Other current liabilities

​

Μύ

15

Μύ

8

​

9

​

β€”

​

32

​

Total current liabilities

​

Μύ

2,800

Μύ

84

​

360

​

β€”

​

3,244

​

Long-term debt (note 1)

​

Μύ

7,855

Μύ

477

​

5,039

​

β€”

​

13,371

​

Deferred income tax liabilities (note 3)

​

Μύ

1,673

Μύ

69

​

(91)

​

β€”

​

1,651

​

Redeemable intergroup interests (note 1)

​

Μύ

β€”

​

226

​

β€”

​

(226)

​

β€”

​

Other liabilities

​

Μύ

257

Μύ

511

​

96

​

β€”

​

864

​

Total liabilities

​

Μύ

12,585

Μύ

1,367

​

5,404

​

(226)

​

19,130

​

Equity / Attributed net assets

​

​

10,599

Μύ

446

​

5,550

​

β€”

​

16,595

​

Noncontrolling interests in equity of subsidiaries

​

​

5,108

Μύ

(8)

​

3

​

β€”

​

5,103

​

Total liabilities and equity

​

$

28,292

Μύ

1,805

​

10,957

​

(226)

​

40,828

​

​

STATEMENT OF OPERATIONS INFORMATION

December 31, 2019

(unaudited)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Attributed (note 1)

​

​

​

​

​

ΒιΆΉapp

​

​

​

​

​

​

​

​

​

SiriusXM

​

Braves

​

Formula One

​

Consolidated

​

​

​

Group

​

Group

​

Group

​

ΒιΆΉapp

​

​

​

amounts in millions

​

Revenue:

​

​

​

​

​

​

​

​

​

​

Sirius XM Holdings revenue

​

$

7,794

Μύ

β€”

​

β€”

​

7,794

​

Formula 1 revenue

​

​

β€”

​

β€”

​

2,022

​

2,022

​

Other revenue

​

Μύ

β€”

Μύ

476

​

β€”

​

476

​

Total revenue

​

Μύ

7,794

Μύ

476

​

2,022

​

10,292

​

Operating costs and expenses, including stock-based compensation (note 2):

​

​

​

​

​

​

​

​

​

​

Cost of services (exclusive of depreciation shown separately below):

​

​

​

​

​

​

​

​

​

​

Revenue share and royalties

​

Μύ

2,291

Μύ

β€”

​

β€”

​

2,291

​

Programming and content

​

Μύ

462

Μύ

β€”

​

β€”

​

462

​

Customer service and billing

​

Μύ

475

Μύ

β€”

​

β€”

​

475

​

Other

​

Μύ

199

Μύ

β€”

​

β€”

​

199

​

Cost of Formula 1 revenue

​

​

β€”

Μύ

β€”

​

1,394

​

1,394

​

Subscriber acquisition costs

​

Μύ

427

Μύ

β€”

​

β€”

​

427

​

Other operating expenses

​

Μύ

280

Μύ

340

​

β€”

​

620

​

Selling, general and administrative

​

Μύ

1,495

Μύ

104

​

210

​

1,809

​

Acquisition and other related costs

​

​

84

Μύ

β€”

​

β€”

​

84

​

Depreciation and amortization

​

Μύ

537

Μύ

71

​

453

​

1,061

​

​

​

Μύ

6,250

Μύ

515

​

2,057

​

8,822

​

Operating income (loss)

​

Μύ

1,544

Μύ

(39)

​

(35)

​

1,470

​

Other income (expense):

​

​

​

​

​

​

​

​

​

​

Interest expense

​

Μύ

(435)

Μύ

(27)

​

(195)

​

(657)

​

Share of earnings (losses) of affiliates, net

​

Μύ

(24)

Μύ

18

​

12

​

6

​

Unrealized gain/(loss) on inter-group interests

​

​

β€”

​

(42)

​

42

​

β€”

​

Realized and unrealized gains (losses) on financial instruments, net

​

Μύ

(41)

Μύ

(4)

​

(270)

​

(315)

​

Other, net

​

Μύ

(38)

Μύ

2

​

45

​

9

​

​

​

Μύ

(538)

Μύ

(53)

​

(366)

​

(957)

​

Earnings (loss) before income taxes

​

Μύ

1,006

Μύ

(92)

​

(401)

​

513

​

Income tax (expense) benefit (note 3)

​

Μύ

(271)

Μύ

15

​

90

​

(166)

​

Net earnings (loss)

​

Μύ

735

Μύ

(77)

​

(311)

​

347

​

Less net earnings (loss) attributable to the noncontrolling interests

​

Μύ

241

Μύ

β€”

​

β€”

​

241

​

Net earnings (loss) attributable to ΒιΆΉapp stockholders

​

$

494

Μύ

(77)

​

(311)

​

106

​

​

​

STATEMENT OF OPERATIONS INFORMATION

December 31, 2018

(unaudited)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Attributed (note 1)

​

​

​

​

​

ΒιΆΉapp

​

​

​

​

​

​

​

​

​

SiriusXM

​

Braves

​

Formula One

​

Consolidated

​

​

​

Group

​

Group

​

Group

​

ΒιΆΉapp

​

​

​

amounts in millions

​

Revenue:

​

​

​

​

​

​

​

​

​

​

Sirius XM Holdings revenue

​

$

5,771

Μύ

β€”

​

β€”

​

5,771

​

Formula 1 revenue

​

​

β€”

​

β€”

​

1,827

​

1,827

​

Other revenue

​

Μύ

β€”

Μύ

442

​

β€”

​

442

​

Total revenue

​

Μύ

5,771

Μύ

442

​

1,827

​

8,040

​

Operating costs and expenses, including stock-based compensation (note 2):

​

​

​

​

​

​

​

​

​

​

Cost of services (exclusive of depreciation shown separately below):

​

​

​

​

​

​

​

​

​

​

Revenue share and royalties

​

Μύ

1,394

Μύ

β€”

​

β€”

​

1,394

​

Programming and content

​

Μύ

406

Μύ

β€”

​

β€”

​

406

​

Customer service and billing

​

Μύ

382

Μύ

β€”

​

β€”

​

382

​

Other

​

Μύ

126

Μύ

β€”

​

β€”

​

126

​

Cost of Formula 1 revenue

​

​

β€”

Μύ

β€”

​

1,273

​

1,273

​

Subscriber acquisition costs

​

Μύ

470

Μύ

β€”

​

β€”

​

470

​

Other operating expenses

​

Μύ

123

Μύ

265

​

β€”

​

388

​

Selling, general and administrative

​

Μύ

878

Μύ

100

​

204

​

1,182

​

Acquisition and other related costs

​

​

3

​

β€”

​

β€”

​

3

​

Depreciation and amortization

​

Μύ

369

Μύ

76

​

460

​

905

​

​

​

Μύ

4,151

Μύ

441

​

1,937

​

6,529

​

Operating income (loss)

​

Μύ

1,620

Μύ

1

​

(110)

​

1,511

​

Other income (expense):

​

​

​

​

​

​

​

​

​

​

Interest expense

​

Μύ

(388)

Μύ

(26)

​

(192)

​

(606)

​

Share of earnings (losses) of affiliates, net

​

Μύ

(11)

Μύ

12

​

17

​

18

​

Unrealized gain/(loss) on inter-group interests

​

​

β€”

​

(24)

​

24

​

β€”

​

Realized and unrealized gains (losses) on financial instruments, net

​

Μύ

(1)

Μύ

(2)

​

43

​

40

​

Other, net

​

Μύ

25

Μύ

35

​

18

​

78

​

​

​

Μύ

(375)

Μύ

(5)

​

(90)

​

(470)

​

Earnings (loss) before income taxes

​

Μύ

1,245

Μύ

(4)

​

(200)

​

1,041

​

Income tax (expense) benefit (note 3)

​

Μύ

(241)

Μύ

15

​

50

​

(176)

​

Net earnings (loss)

​

Μύ

1,004

Μύ

11

​

(150)

​

865

​

Less net earnings (loss) attributable to the noncontrolling interests

​

Μύ

328

Μύ

6

​

β€”

​

334

​

Net earnings (loss) attributable to ΒιΆΉapp stockholders

​

$

676

Μύ

5

​

(150)

​

531

​

​

STATEMENT OF OPERATIONS INFORMATION

December 31, 2017

(unaudited)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Attributed (note 1)

​

​

​

​

​

ΒιΆΉapp

​

​

​

​

​

​

​

​

​

SiriusXM

​

Braves

​

Formula One

​

Consolidated

​

​

​

Group

​

Group

​

Group

​

ΒιΆΉapp

​

​

​

amounts in millions

​

Revenue:

​

​

​

​

​

​

​

​

​

​

SIRIUS XM Holdings revenue

​

$

5,425

Μύ

β€”

​

β€”

​

5,425

​

Formula 1 revenue

​

​

β€”

​

β€”

​

1,783

​

1,783

​

Other revenue

​

Μύ

β€”

Μύ

386

​

β€”

​

386

​

Total revenue

​

Μύ

5,425

Μύ

386

​

1,783

​

7,594

​

Operating costs and expenses, including stock-based compensation (note 2):

​

​

​

​

​

​

​

​

​

​

Cost of services (exclusive of depreciation shown separately below):

​

​

​

​

​

​

​

​

​

​

Revenue share and royalties

​

Μύ

1,210

Μύ

β€”

​

β€”

​

1,210

​

Programming and content

​

Μύ

388

Μύ

β€”

​

β€”

​

388

​

Customer service and billing

​

Μύ

385

Μύ

β€”

​

β€”

​

385

​

Other

​

Μύ

119

Μύ

β€”

​

β€”

​

119

​

Cost of Formula 1 revenue

​

​

β€”

​

β€”

​

1,219

​

1,219

​

Subscriber acquisition costs

​

Μύ

499

Μύ

β€”

​

β€”

​

499

​

Other operating expenses

​

Μύ

113

Μύ

296

​

β€”

​

409

​

Selling, general and administrative

​

Μύ

812

Μύ

136

​

199

​

1,147

​

Depreciation and amortization

​

Μύ

352

Μύ

67

​

405

​

824

​

​

​

Μύ

3,878

Μύ

499

​

1,823

​

6,200

​

Operating income (loss)

​

Μύ

1,547

Μύ

(113)

​

(40)

​

1,394

​

Other income (expense):

​

​

​

​

​

​

​

​

​

​

Interest expense

​

Μύ

(356)

Μύ

(15)

​

(220)

​

(591)

​

Share of earnings (losses) of affiliates, net

​

Μύ

29

Μύ

78

​

(3)

​

104

​

Unrealized gain/(loss) on inter-group interests

​

​

β€”

​

(15)

​

15

​

β€”

​

Realized and unrealized gains (losses) on financial instruments, net

​

Μύ

(16)

Μύ

β€”

​

(72)

​

(88)

​

Other, net

​

Μύ

(11)

Μύ

3

​

16

​

8

​

​

​

Μύ

(354)

Μύ

51

​

(264)

​

(567)

​

Earnings (loss) before income taxes

​

Μύ

1,193

Μύ

(62)

​

(304)

​

827

​

Income tax (expense) benefit (note 3)

​

Μύ

466

Μύ

36

​

561

​

1,063

​

Net earnings (loss)

​

Μύ

1,659

Μύ

(26)

​

257

​

1,890

​

Less net earnings (loss) attributable to the noncontrolling interests

​

Μύ

535

Μύ

(1)

​

2

​

536

​

Net earnings (loss) attributable to ΒιΆΉapp stockholders

​

$

1,124

Μύ

(25)

​

255

​

1,354

​

​

STATEMENT OF CASH FLOWS INFORMATION

December 31, 2019

(unaudited)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Attributed (note 1)

​

​

​

​

​

ΒιΆΉapp

​

​

​

​

​

​

​

​

​

SiriusXM

​

Braves

​

Formula One

​

Consolidated

​

​

​

Group

​

Group

​

Group

​

ΒιΆΉapp

​

​

​

²Ή³Ύ΄Η³ά²Τ³Ω²υΜύΎ±²ΤΜύ³ΎΎ±±τ±τΎ±΄Η²Τ²υ

​

Cash flows from operating activities:

​

​

​

​

​

​

​

​

​

​

Net earnings (loss)

​

$

735

Μύ

(77)

​

(311)

​

347

​

Adjustments to reconcile net earnings to net cash provided by operating activities:

​

​

​

​

.

​

​

​

​

​

Depreciation and amortization

​

Μύ

537

Μύ

71

​

453

​

1,061

​

Stock-based compensation

​

Μύ

267

Μύ

17

​

28

​

312

​

Share of (earnings) loss of affiliates, net

​

Μύ

24

Μύ

(18)

​

(12)

​

(6)

​

Unrealized (gains) losses on intergroup interests, net

​

​

β€”

​

42

​

(42)

​

β€”

​

Realized and unrealized (gains) losses on financial instruments, net

​

Μύ

41

Μύ

4

​

270

​

315

​

Noncash interest expense

​

​

7

​

1

​

1

​

9

​

Losses (gains) on dilution of investment in affiliate

​

​

β€”

​

β€”

​

(7)

​

(7)

​

Loss on early extinguishment of debt

​

​

57

​

β€”

​

β€”

​

57

​

Deferred income tax expense (benefit)

​

Μύ

268

Μύ

(7)

​

(141)

​

120

​

Intergroup tax allocation

​

​

(21)

​

(8)

​

29

​

β€”

​

Intergroup tax (payments) receipts

​

​

(3)

​

21

​

(18)

​

β€”

​

Other charges (credits), net

​

Μύ

4

Μύ

18

​

(14)

​

8

​

Changes in operating assets and liabilities

​

​

​

​

​

​

​

​

​

​

Current and other assets

​

Μύ

(11)

Μύ

(12)

​

20

​

(3)

​

Payables and other liabilities

​

Μύ

39

Μύ

23

​

38

​

100

​

Net cash provided (used) by operating activities

​

Μύ

1,944

Μύ

75

​

294

​

2,313

​

Cash flows from investing activities:

​

​

​

​

​

​

​

​

​

​

Cash proceeds from dispositions of investments

​

​

373

​

β€”

​

69

​

442

​

Cash (paid) received for acquisitions, net of cash acquired

​

​

313

​

β€”

​

β€”

​

313

​

Investments in equity method affiliates and debt and equity securities

​

Μύ

(19)

Μύ

(4)

​

(6)

​

(29)

​

Repayment of loans and other cash receipts from equity method affiliates and debt and equity securities

​

​

11

​

β€”

​

β€”

​

11

​

Capital expended for property and equipment, including internal-use software and website development

​

Μύ

(363)

Μύ

(103)

​

(44)

​

(510)

​

Sales of short term investments and other marketable securities

​

Μύ

73

Μύ

β€”

​

β€”

​

73

​

Other investing activities, net

​

Μύ

(4)

Μύ

β€”

​

18

​

14

​

Net cash provided (used) by investing activities

​

Μύ

384

Μύ

(107)

​

37

​

314

​

Cash flows from financing activities:

​

​

​

​

​

​

​

​

​

​

Borrowings of debt

​

Μύ

5,795

Μύ

96

​

129

​

6,020

​

Repayments of debt

​

Μύ

(4,833)

Μύ

(31)

​

(7)

​

(4,871)

​

Series C ΒιΆΉapp SiriusXM stock repurchases

​

​

(419)

Μύ

β€”

​

(24)

​

(443)

​

Subsidiary shares repurchased by subsidiary

​

Μύ

(2,159)

Μύ

β€”

​

β€”

​

(2,159)

​

Cash dividends paid by subsidiary

​

​

(68)

Μύ

β€”

​

β€”

​

(68)

​

Taxes paid in lieu of shares issued for stock-based compensation

​

Μύ

(201)

Μύ

(4)

​

(6)

​

(211)

​

Other financing activities, net

​

​

(38)

​

(7)

​

4

​

(41)

​

Net cash provided (used) by financing activities

​

Μύ

(1,923)

Μύ

54

​

96

​

(1,773)

​

Effect of foreign exchange rates on cash, cash equivalents and restricted cash

​

​

β€”

Μύ

β€”

​

β€”

​

β€”

​

Net increase (decrease) in cash, cash equivalents and restricted cash

​

Μύ

405

Μύ

22

​

427

​

854

​

Cash, cash equivalents and restricted cash at beginning of period

​

Μύ

102

Μύ

190

​

160

​

452

​

Cash, cash equivalents and restricted cash at end of period

​

$

507

Μύ

212

​

587

​

1,306

​

​

STATEMENT OF CASH FLOWS INFORMATION

December 31, 2018

(unaudited)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Attributed (note 1)

​

​

​

​

​

ΒιΆΉapp

​

​

​

​

​

​

​

​

​

SiriusXM

​

Braves

​

Formula One

​

Consolidated

​

​

​

Group

​

Group

​

Group

​

ΒιΆΉapp

​

​

​

²Ή³Ύ΄Η³ά²Τ³Ω²υΜύΎ±²ΤΜύ³ΎΎ±±τ±τΎ±΄Η²Τ²υ

​

Cash flows from operating activities:

​

​

​

​

​

​

​

​

​

​

Net earnings (loss)

​

$

1,004

Μύ

11

​

(150)

​

865

​

Adjustments to reconcile net earnings to net cash provided by operating activities:

​

​

​

​

​

​

​

​

​

​

Depreciation and amortization

​

Μύ

369

Μύ

76

​

460

​

905

​

Stock-based compensation

​

Μύ

156

Μύ

11

​

25

​

192

​

Share of (earnings) loss of affiliates, net

​

Μύ

11

Μύ

(12)

​

(17)

​

(18)

​

Unrealized (gains) losses on intergroup interests, net

​

​

β€”

​

24

​

(24)

​

β€”

​

Realized and unrealized (gains) losses on financial instruments, net

​

Μύ

1

Μύ

2

​

(43)

​

(40)

​

Noncash interest expense

​

​

(8)

​

5

​

2

​

(1)

​

Losses (gains) on dilution of investment in affiliate

​

​

β€”

​

β€”

​

1

​

1

​

Loss on early extinguishment of debt

​

​

β€”

​

β€”

​

1

​

1

​

Deferred income tax expense (benefit)

​

Μύ

231

Μύ

(1)

​

(63)

​

167

​

Intergroup tax allocation

​

​

22

​

(14)

​

(8)

​

β€”

​

Intergroup tax (payments) receipts

​

​

(20)

​

35

​

(15)

​

β€”

​

Other charges (credits), net

​

Μύ

2

Μύ

(20)

​

1

​

(17)

​

Changes in operating assets and liabilities

​

​

​

​

​

​

​

​

​

​

Current and other assets

​

Μύ

(4)

Μύ

8

​

(35)

​

(31)

​

Payables and other liabilities

​

Μύ

21

Μύ

(22)

​

133

​

132

​

Net cash provided (used) by operating activities

​

Μύ

1,785

Μύ

103

​

268

​

2,156

​

Cash flows from investing activities:

​

​

​

​

​

​

​

​

​

​

Cash proceeds from dispositions of investments

​

Μύ

β€”

​

155

​

244

​

399

​

Cash (paid) received for acquisitions, net of cash acquired

​

​

(2)

​

β€”

​

β€”

​

(2)

​

Investments in equity method affiliates and debt and equity securities

​

​

(405)

Μύ

β€”

​

(9)

​

(414)

​

Repayment of loans and other cash receipts from equity method affiliates and debt and equity securities

​

​

14

​

β€”

​

β€”

​

14

​

Capital expended for property and equipment, including internal-use software and website development

​

Μύ

(356)

Μύ

(33)

​

(14)

​

(403)

​

Other investing activities, net

​

Μύ

(7)

Μύ

37

​

6

​

36

​

Net cash provided (used) by investing activities

​

Μύ

(756)

Μύ

159

​

227

​

(370)

​

Cash flows from financing activities:

​

​

​

​

​

​

​

​

​

​

Borrowings of debt

​

Μύ

2,795

Μύ

123

​

699

​

3,617

​

Repayments of debt

​

Μύ

(2,431)

Μύ

(317)

​

(1,309)

​

(4,057)

​

Series C ΒιΆΉapp SiriusXM stock repurchases

​

​

(466)

​

β€”

​

β€”

​

(466)

​

Subsidiary shares repurchased by subsidiary

​

​

(1,314)

Μύ

β€”

​

β€”

​

(1,314)

​

Cash dividends paid by subsidiary

​

​

(59)

​

β€”

​

β€”

​

(59)

​

Taxes paid in lieu of shares issued for stock-based compensation

​

Μύ

(127)

Μύ

β€”

​

(3)

​

(130)

​

Other financing activities, net

​

​

50

​

(18)

​

(3)

​

29

​

Net cash provided (used) by financing activities

​

Μύ

(1,552)

Μύ

(212)

​

(616)

​

(2,380)

​

Effect of foreign exchange rates on cash, cash equivalents and restricted cash

​

​

β€”

​

β€”

​

(1)

​

(1)

​

Net increase (decrease) in cash, cash equivalents and restricted cash

​

Μύ

(523)

Μύ

50

​

(122)

​

(595)

​

Cash, cash equivalents and restricted cash at beginning of period

​

Μύ

625

Μύ

140

​

282

​

1,047

​

Cash, cash equivalents and restricted cash at end of period

​

$

102

Μύ

190

​

160

​

452

​

​

​

​

STATEMENT OF CASH FLOWS INFORMATION

December 31, 2017

(unaudited)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Attributed (note 1)

​

​

​

​

​

ΒιΆΉapp

​

​

​

​

​

​

​

​

​

SiriusXM

​

Braves

​

Formula One

​

Consolidated

​

​

​

Group

​

Group

​

Group

​

ΒιΆΉapp

​

​

​

²Ή³Ύ΄Η³ά²Τ³Ω²υΜύΎ±²ΤΜύ³ΎΎ±±τ±τΎ±΄Η²Τ²υ

​

Cash flows from operating activities:

​

​

​

​

​

​

​

​

​

​

Net earnings (loss)

​

$

1,659

Μύ

(26)

​

257

​

1,890

​

Adjustments to reconcile net earnings to net cash provided by operating activities:

​

​

​

​

​

​

​

​

​

​

Depreciation and amortization

​

Μύ

352

Μύ

67

​

405

​

824

​

Stock-based compensation

​

Μύ

150

Μύ

48

​

32

​

230

​

Share of (earnings) loss of affiliates, net

​

Μύ

(29)

Μύ

(78)

​

3

​

(104)

​

Unrealized (gains) losses on intergroup interests, net

​

​

β€”

​

15

​

(15)

​

β€”

​

Realized and unrealized (gains) losses on financial instruments, net

​

Μύ

16

Μύ

β€”

​

72

​

88

​

Noncash interest expense

​

​

7

​

3

​

6

​

16

​

Losses (gains) on dilution of investment in affiliate

​

​

β€”

​

β€”

​

(3)

​

(3)

​

Loss on early extinguishment of debt

​

​

35

​

5

​

8

​

48

​

Deferred income tax expense (benefit)

​

Μύ

(492)

Μύ

2

​

(574)

​

(1,064)

​

Intergroup tax allocation

​

​

(6)

​

(39)

​

45

​

β€”

​

Intergroup tax (payments) receipts

​

​

4

​

15

​

(19)

​

β€”

​

Other charges (credits), net

​

Μύ

(4)

Μύ

18

​

(10)

​

4

​

Changes in operating assets and liabilities

​

​

​

​

​

​

​

​

​

​

Current and other assets

​

Μύ

30

Μύ

(57)

​

77

​

50

​

Payables and other liabilities

​

Μύ

127

Μύ

(15)

​

(359)

​

(247)

​

Net cash provided (used) by operating activities

​

Μύ

1,849

Μύ

(42)

​

(75)

​

1,732

​

Cash flows from investing activities:

​

​

​

​

​

​

​

​

​

​

Cash proceeds from dispositions of investments

​

Μύ

β€”

Μύ

5

​

16

​

21

​

Cash (paid) received for acquisitions, net of cash acquired

​

​

(107)

​

β€”

​

(1,647)

​

(1,754)

​

Investments in equity method affiliates and debt and equity securities

​

​

(851)

​

(2)

​

(9)

​

(862)

​

Capital expended for property and equipment, including internal-use software and website development

​

Μύ

(288)

Μύ

(219)

​

(10)

​

(517)

​

Other investing activities, net

​

Μύ

(8)

Μύ

(5)

​

(12)

​

(25)

​

Net cash provided (used) by investing activities

​

Μύ

(1,254)

Μύ

(221)

​

(1,662)

​

(3,137)

​

Cash flows from financing activities:

​

​

​

​

​

​

​

​

​

​

Borrowings of debt

​

Μύ

4,553

Μύ

544

​

1,600

​

6,697

​

Repayments of debt

​

Μύ

(3,216)

Μύ

(218)

​

(1,673)

​

(5,107)

​

Proceeds from issuance of Series C ΒιΆΉapp Formula One common stock

​

​

β€”

​

β€”

​

1,938

​

1,938

​

Subsidiary shares repurchased by subsidiary

​

Μύ

(1,409)

Μύ

β€”

​

β€”

​

(1,409)

​

Cash dividends paid by subsidiary

​

​

(60)

​

β€”

​

β€”

​

(60)

​

Taxes paid in lieu of shares issued for stock-based compensation

​

Μύ

(100)

Μύ

(30)

​

(5)

​

(135)

​

Other financing activities, net

​

​

(35)

​

β€”

​

(13)

​

(48)

​

Net cash provided (used) by financing activities

​

Μύ

(267)

Μύ

296

​

1,847

​

1,876

​

Effect of foreign exchange rates on cash, cash equivalents and restricted cash

​

​

β€”

​

β€”

​

4

​

4

​

Net increase (decrease) in cash, cash equivalents and restricted cash

​

Μύ

328

Μύ

33

​

114

​

475

​

Cash, cash equivalents and restricted cash at beginning of period

​

Μύ

297

Μύ

107

​

168

​

572

​

Cash, cash equivalents and restricted cash at end of period

​

$

625

Μύ

140

​

282

​

1,047

​

​