ΒιΆΉapp

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

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

​

$

386

​

321

​

1,094

​

β€”

​

1,801

Μύ

Trade and other receivables, net

​

Μύ

604

​

30

​

66

​

β€”

​

700

Μύ

Other current assets

​

Μύ

239

​

26

​

223

​

β€”

​

488

Μύ

Total current assets

​

Μύ

1,229

​

377

​

1,383

​

β€”

​

2,989

Μύ

Intergroup interests (note 1)

​

​

β€”

​

β€”

​

235

​

(235)

​

β€”

​

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

​

Μύ

670

​

101

​

671

​

β€”

​

1,442

Μύ

​

​

​

​

​

​

​

​

​

​

​

​

​

Property and equipment, at cost

​

Μύ

2,689

​

945

​

169

​

β€”

​

3,803

Μύ

Accumulated depreciation

​

Μύ

(1,359)

​

(141)

​

(58)

​

β€”

​

(1,558)

Μύ

​

​

Μύ

1,330

​

804

​

111

​

β€”

​

2,245

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

1,555

​

33

​

4,202

​

β€”

​

5,790

Μύ

Other assets

​

Μύ

659

​

77

​

804

​

(32)

​

1,508

Μύ

Total assets

​

$

31,108

​

1,715

​

11,362

​

(267)

​

43,918

Μύ

​

​

​

​

​

​

​

​

​

​

​

​

​

Liabilities and Equity

​

​

​

​

​

​

​

​

​

​

​

​

Current liabilities:

​

​

​

​

​

​

​

​

​

​

​

​

Intergroup payable (receivable) (note 3)

​

$

(19)

​

(13)

​

32

​

β€”

​

β€”

​

Accounts payable and accrued liabilities

​

​

1,107

Μύ

51

​

150

​

β€”

​

1,308

​

Current portion of debt

​

​

1

​

114

​

475

​

β€”

​

590

​

Deferred revenue

​

Μύ

1,923

Μύ

108

​

554

​

β€”

​

2,585

​

Other current liabilities

​

Μύ

75

Μύ

5

​

21

​

β€”

​

101

​

Total current liabilities

​

Μύ

3,087

Μύ

265

​

1,232

​

β€”

​

4,584

​

Long-term debt (note 1)

​

Μύ

9,070

Μύ

580

​

4,903

​

β€”

​

14,553

​

Deferred income tax liabilities

​

Μύ

1,947

Μύ

49

​

β€”

​

(32)

​

1,964

​

Redeemable intergroup interests (note 1)

​

​

62

​

173

​

β€”

​

(235)

​

β€”

​

Other liabilities

​

Μύ

665

Μύ

221

​

229

​

β€”

​

1,115

​

Total liabilities

​

Μύ

14,831

Μύ

1,288

​

6,364

​

(267)

​

22,216

​

Equity / Attributed net assets

​

Μύ

10,745

Μύ

427

​

4,995

​

β€”

​

16,167

​

Noncontrolling interests in equity of subsidiaries

​

Μύ

5,532

Μύ

β€”

​

3

​

β€”

​

5,535

​

Total liabilities and equity

​

$

31,108

Μύ

1,715

​

11,362

​

(267)

​

43,918

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

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)

​

$

292

Μύ

53

​

(343)

​

2

​

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

​

​

​

​

​

​

​

​

​

​

Depreciation and amortization

​

Μύ

148

Μύ

15

​

104

​

267

​

Stock-based compensation

​

Μύ

58

Μύ

3

​

6

​

67

​

Share of (earnings) loss of affiliates, net

​

Μύ

2

Μύ

(4)

​

64

​

62

​

Unrealized (gains) losses on intergroup interest, net

​

​

(31)

​

(95)

​

126

​

β€”

​

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

​

Μύ

5

Μύ

9

​

(15)

​

(1)

​

Deferred income tax expense (benefit)

​

Μύ

67

Μύ

(13)

​

(15)

​

39

​

Intergroup tax allocation

​

​

1

​

(2)

​

1

​

β€”

​

Other charges (credits), net

​

Μύ

4

Μύ

3

​

3

​

10

​

Changes in operating assets and liabilities

​

​

​

​

​

​

​

​

​

​

Current and other assets

​

Μύ

72

Μύ

19

​

(125)

​

(34)

​

Payables and other liabilities

​

Μύ

(214)

Μύ

29

​

330

​

145

​

Net cash provided (used) by operating activities

​

Μύ

404

Μύ

17

​

136

​

557

​

Cash flows from investing activities:

​

​

​

​

​

​

​

​

​

​

Investments in equity method affiliates and debt and equity securities

​

Μύ

(81)

Μύ

β€”

​

(1)

​

(82)

​

Return of investment in equity method affiliates

​

​

β€”

​

β€”

​

105

​

105

​

Cash proceeds from sale of investments

​

​

β€”

​

β€”

​

10

​

10

​

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

​

Μύ

(62)

Μύ

(24)

​

(2)

​

(88)

​

Other investing activities, net

​

Μύ

(1)

Μύ

β€”

​

(2)

​

(3)

​

Net cash provided (used) by investing activities

​

Μύ

(144)

Μύ

(24)

​

110

​

(58)

​

Cash flows from financing activities:

​

​

​

​

​

​

​

​

​

​

Borrowings of debt

​

Μύ

204

Μύ

174

​

475

​

853

​

Repayments of debt

​

Μύ

(206)

Μύ

(35)

​

(131)

​

(372)

​

ΒιΆΉapp SiriusXM stock repurchases

​

​

(69)

​

β€”

​

(69)

​

(138)

​

Subsidiary shares repurchased by subsidiary

​

Μύ

(243)

Μύ

β€”

​

β€”

​

(243)

​

Cash dividends paid by subsidiary

​

​

(17)

​

β€”

​

β€”

​

(17)

​

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

​

Μύ

(36)

Μύ

β€”

​

(2)

​

(38)

​

Other financing activities, net

​

​

(2)

​

(1)

​

(4)

​

(7)

​

Net cash provided (used) by financing activities

​

Μύ

(369)

Μύ

138

​

269

​

38

​

Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash

​

​

β€”

​

β€”

​

(8)

​

(8)

​

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

​

Μύ

(109)

Μύ

131

​

507

​

529

​

Cash, cash equivalents and restricted cash at beginning of period

​

Μύ

507

Μύ

212

​

587

​

1,306

​

Cash, cash equivalents and restricted cash at end of period

​

$

398

Μύ

343

​

1,094

​

1,835

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

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)

​

$

92

Μύ

(71)

​

(148)

​

(127)

​

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

​

​

​

​

​

​

​

​

​

​

Depreciation and amortization

​

Μύ

125

Μύ

13

​

110

​

248

​

Stock-based compensation

​

Μύ

76

Μύ

3

​

7

​

86

​

Share of (earnings) loss of affiliates, net

​

Μύ

4

Μύ

(2)

​

18

​

20

​

Unrealized (gains) losses on intergroup interest, net

​

​

β€”

​

26

​

(26)

​

β€”

​

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

​

Μύ

(1)

Μύ

2

​

97

​

98

​

Deferred income tax expense (benefit)

​

Μύ

109

Μύ

2

​

(57)

​

54

​

Intergroup tax allocation

​

​

1

​

(14)

​

13

​

β€”

​

Other charges (credits), net

​

Μύ

3

Μύ

1

​

1

​

5

​

Changes in operating assets and liabilities

​

​

​

​

​

​

​

​

​

​

Current and other assets

​

Μύ

(8)

Μύ

23

​

(34)

​

(19)

​

Payables and other liabilities

​

Μύ

(19)

Μύ

60

​

243

​

284

​

Net cash provided (used) by operating activities

​

Μύ

382

Μύ

43

​

224

​

649

​

Cash flows from investing activities:

​

​

​

​

​

​

​

​

​

​

Investments in equity method affiliates and debt and equity securities

​

Μύ

(4)

Μύ

(5)

​

(2)

​

(11)

​

Cash proceeds from sale of investments

​

​

72

​

β€”

​

β€”

​

72

​

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

​

​

313

​

β€”

​

β€”

​

313

​

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

​

Μύ

(90)

Μύ

(15)

​

(8)

​

(113)

​

Other investing activities, net

​

Μύ

(3)

Μύ

(4)

​

β€”

​

(7)

​

Net cash provided (used) by investing activities

​

Μύ

288

Μύ

(24)

​

(10)

​

254

​

Cash flows from financing activities:

​

​

​

​

​

​

​

​

​

​

Borrowings of debt

​

Μύ

913

Μύ

β€”

​

β€”

​

913

​

Repayments of debt

​

Μύ

(725)

Μύ

(14)

​

(2)

​

(741)

​

ΒιΆΉapp SiriusXM stock repurchases

​

​

(222)

​

β€”

​

β€”

​

(222)

​

Subsidiary shares repurchased by subsidiary

​

Μύ

(576)

Μύ

β€”

​

β€”

​

(576)

​

Cash dividends paid by subsidiary

​

​

(19)

​

β€”

​

β€”

​

(19)

​

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

​

Μύ

(36)

Μύ

β€”

​

(4)

​

(40)

​

Other financing activities, net

​

​

2

​

(5)

​

3

​

β€”

​

Net cash provided (used) by financing activities

​

Μύ

(663)

Μύ

(19)

​

(3)

​

(685)

​

Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash

​

​

β€”

​

β€”

​

1

​

1

​

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

​

Μύ

7

Μύ

β€”

​

212

​

219

​

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

​

$

109

Μύ

190

​

372

​

671

​