Summary of Significant Accounting Policies (Tables)
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12 Months Ended |
Dec. 31, 2024 |
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| Schedule of allowance for credit losses |
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³Û±ð²¹°ù²õÌý±ð²Ô»å±ð»åÌý¶Ù±ð³¦±ð³¾²ú±ð°ùÌý31, |
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2024 |
ÌýÌýÌýÌý |
2023 |
ÌýÌýÌýÌý |
2022 |
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²¹³¾´Ç³Ü²Ô³Ù²õÌý¾±²ÔÌý³¾¾±±ô±ô¾±´Ç²Ô²õ |
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Balance, beginning of period |
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$ |
2 |
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3 |
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3 |
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Provision charged to expense |
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1 |
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1 |
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— |
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Write-offs, net of recoveries |
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— |
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(2) |
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(1) |
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Foreign currency translation adjustments |
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— |
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— |
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1 |
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Balance, end of period |
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$ |
3 |
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2 |
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3 |
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| Property, Plant and Equipment |
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Estimated |
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December 31, |
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ÌýÌýÌýÌý |
±«²õ±ð´Ú³Ü±ôÌý³¢¾±´Ú±ð |
ÌýÌýÌýÌý |
2024 |
ÌýÌýÌýÌý |
2023 |
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​ |
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²¹³¾´Ç³Ü²Ô³Ù²õÌý¾±²ÔÌý³¾¾±±ô±ô¾±´Ç²Ô²õ |
Ìý |
Land |
Ìý |
NA |
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$ |
262 |
Ìý |
262 |
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Buildings and improvements |
Ìý |
10Ìý-Ìý40 years |
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Ìý |
538 |
Ìý |
537 |
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Support equipment |
Ìý |
3Ìý-Ìý25 years |
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Ìý |
205 |
Ìý |
172 |
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Construction in progress |
Ìý |
NA |
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Ìý |
2 |
Ìý |
2 |
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Total property and equipment |
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​ |
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$ |
1,007 |
Ìý |
973 |
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| Â鶹app SiriusXM Group |
Ìý
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| Schedule for Reconciliation of Basic and Diluted Weighted Average Shares |
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January 1, 2024 to |
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Years ended December 31, |
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ÌýÌýÌýÌý |
September 9, 2024 |
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2023 |
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2022 |
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numberÌýofÌýsharesÌýinÌýmillions |
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Basic WASO |
Ìý |
327 |
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327 |
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328 |
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Potentially dilutive shares (a) |
Ìý |
13 |
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16 |
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17 |
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Diluted WASO (b) |
Ìý |
340 |
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343 |
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345 |
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| (a) |
Potentially dilutive shares are excluded from the computation of diluted EPS during periods in which net losses attributable to the Â鶹app SiriusXM Group are reported since the result would be antidilutive. |
| (b) |
For periods in which share settlement of the 2.125% Exchangeable Senior Debentures due 2048 and 2.75% Exchangeable Senior Debentures due 2049, which could have been settled in shares of Series C Â鶹app SiriusXM common stock, and 3.75% Convertible Senior Notes due 2028, which could have been settled in shares of Series A Â鶹app SiriusXM common stock, were dilutive, the numerator adjustment includes a reversal of the interest expense and the unrealized gain or loss recorded on the instruments during the period, net of tax where appropriate. The settlement of the 2.125% Exchangeable Senior Debentures due 2048 changed to solely cash, pursuant to a supplemental indenture entered into during February 2023. Accordingly, the impact of share settlement of the 2.125% Exchangeable Senior Debentures due 2048 was considered for purposes of calculating diluted WASO prior to the execution of the supplemental indenture. Ìý
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January 1, 2024 to |
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Years ended December 31, |
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September 9, 2024 |
ÌýÌýÌýÌý |
2023 |
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2022 |
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²¹³¾´Ç³Ü²Ô³Ù²õÌý¾±²ÔÌý³¾¾±±ô±ô¾±´Ç²Ô²õ |
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Basic earnings (loss) from discontinued operations attributable to Â鶹app SiriusXM stockholders |
$ |
(2,002) |
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784 |
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910 |
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Adjustments |
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(93) |
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1 |
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(31) |
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Diluted earnings (loss) from discontinued operations attributable to Â鶹app SiriusXM stockholders |
$ |
(2,095) |
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785 |
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879 |
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| Â鶹app Braves Group |
Ìý
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| Schedule of revenue disaggregated by segment and by source |
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Years ended December 31, |
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2023 |
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2022 |
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amounts in millions |
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Baseball |
$ |
318 |
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535 |
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Mixed-Use Development |
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32 |
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53 |
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Total Braves Holdings revenue |
$ |
350 |
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588 |
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| Schedule for Reconciliation of Basic and Diluted Weighted Average Shares |
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January 1, 2023 to |
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Year ended |
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ÌýÌýÌýÌý |
July 18, 2023 |
ÌýÌýÌýÌý |
December 31, 2022 |
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|
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numberÌýofÌýsharesÌýinÌýmillions |
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Basic WASO |
Ìý |
53 |
Ìý |
53 |
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Potentially dilutive shares (a) |
Ìý |
1 |
Ìý |
— |
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Diluted WASO (b) |
Ìý |
54 |
Ìý |
53 |
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| (a) |
Potentially dilutive shares are excluded from the computation of diluted EPS during periods in which net losses attributable to the Braves Group are reported since the result would be antidilutive. |
| (b) |
As described in note 3, the intergroup interests in the Braves Group held by the Formula One Group and the Â鶹app SiriusXM Group were settled and extinguished in connection with the Atlanta Braves Holdings Split-Off. The intergroup interests were quasi-equity interests that were not represented by outstanding shares of common stock; rather, the Formula One Group and the Â鶹app SiriusXM Group had attributed values in the Braves Group which are generally stated in terms of a number of shares of stock issuable to the Formula One Group and the Â鶹app SiriusXM Group with respect to their interests in the Braves Group. Each reporting period, the notional shares representing the intergroup interests were marked to fair value. As the notional shares underlying the intergroup interests were not represented by outstanding shares of common stock, such shares had not been officially designated Series A, B or C Â鶹app Braves common stock. However, Â鶹app assumed that the notional shares (if and when issued) related to the Formula One Group interest in the Braves Group would be comprised of Series C Â鶹app Braves common stock in order to not dilute voting percentages and the notional shares (if and when issued) related to the Â鶹app SiriusXM Group interest in the Braves Group would be comprised of Series A Â鶹app Braves common stock since Series A Â鶹app Braves common stock was underlying the Convertible Notes. Therefore, the market prices of Series C Â鶹app Braves and Series A Â鶹app Braves common stock were historically used for the quarterly mark-to-market adjustment for the intergroup interests held by Formula One Group and Â鶹app SiriusXM Group, respectively, through the unaudited attributed consolidated statements of operations. During the second quarter of 2023, Â鶹app determined that, in connection with the Atlanta Braves Holdings Split-Off, shares of Atlanta Braves Holdings Series C common stock would be used to settle and extinguish the intergroup interest in the Braves Group attributed to the Â鶹app SiriusXM Group. Following such determination, the market price of Series C Â鶹app Braves common stock was used for the mark-to-market adjustment for the intergroup interest held by the Â鶹app SiriusXM Group.
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The notional shares representing the intergroup interests had no impact on the basic WASO. However, if dilutive, the notional shares representing the intergroup interests were included in the diluted WASO as if the shares had been issued and outstanding during the period. For periods in which share settlement of the intergroup interests were dilutive, an adjustment was also made to the numerator in the diluted earnings per share calculation for the unrealized gain or loss incurred from marking the intergroup interests to fair value during the period.
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January 1, 2023 to |
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Year ended |
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July 18, 2023 |
ÌýÌýÌýÌý |
December 31, 2022 |
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²¹³¾´Ç³Ü²Ô³Ù²õÌý¾±²ÔÌý³¾¾±±ô±ô¾±´Ç²Ô²õ |
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Basic earnings (loss) attributable to Â鶹app Braves stockholders |
$ |
(111) |
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(35) |
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Adjustments |
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— |
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— |
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Diluted earnings (loss) attributable to Â鶹app Braves stockholders |
$ |
(111) |
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(35) |
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| Formula One Group |
Ìý
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| Schedule for Reconciliation of Basic and Diluted Weighted Average Shares |
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Years ended December 31, |
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ÌýÌýÌýÌý |
2024 |
ÌýÌýÌýÌý |
2023 |
​ |
2022 |
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numberÌýofÌýsharesÌýinÌýmillions |
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Basic WASO |
Ìý |
240 |
Ìý |
234 |
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233 |
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Potentially dilutive shares (a) |
Ìý |
3 |
Ìý |
6 |
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11 |
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Diluted WASO (b) |
Ìý |
243 |
Ìý |
240 |
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244 |
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| (a) |
Potentially dilutive shares are excluded from the computation of diluted EPS during periods in which net losses attributable to the Formula One Group are reported since the result would be antidilutive. |
| (b) |
As described in note 3, the Â鶹app SiriusXM Group’s intergroup interest in the Formula One Group was settled and extinguished on July 12, 2023. The intergroup interest was a quasi-equity interest which was not represented by outstanding shares of common stock; rather, the Â鶹app SiriusXM Group had an attributed value in the Formula One Group which was generally stated in terms of a number of shares of stock issuable to the Â鶹app SiriusXM Group with respect to its interest in the Formula One Group. Each reporting period, the notional shares representing the intergroup interest were marked to fair value. As the notional shares underlying the intergroup interest were not represented by outstanding shares of common stock, such shares had not been officially designated Series A, B or C Â鶹app Formula One common stock. However, Â鶹app assumed that the notional shares (if and when issued) would |
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be comprised of Series A Â鶹app Formula One common stock since Series A Â鶹app Formula One common stock was underlying the 1.375% Cash Convertible Senior Notes due 2023. Therefore, the market price of Series A Â鶹app Formula One common stock was used for the quarterly mark-to-market adjustment through the unaudited attributed consolidated statements of operations. The notional shares representing the intergroup interest had no impact on the basic WASO. However, if dilutive, the notional shares representing the intergroup interest were included in the diluted WASO as if the shares had been issued and outstanding during the period. For periods in which share settlement of the intergroup interest was dilutive, an adjustment was also made to the numerator in the diluted earnings per share calculation for the unrealized gain or loss incurred from marking the intergroup interest to fair value during the period.
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For periods in which share settlement of the 2.25% Convertible Senior Notes due 2027, which may be settled in shares of Series C Â鶹app Formula One common stock, is dilutive, the numerator adjustment includes a reversal of the interest expense and the unrealized gain or loss recorded on the instrument during the period, net of tax where appropriate.
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Years ended December 31, |
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2024 |
ÌýÌýÌýÌý |
2023 |
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2022 |
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²¹³¾´Ç³Ü²Ô³Ù²õÌý¾±²ÔÌý³¾¾±±ô±ô¾±´Ç²Ô²õ |
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Basic earnings (loss) attributable to Â鶹app Formula One stockholders |
$ |
(30) |
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185 |
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558 |
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Adjustments |
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— |
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(37) |
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(34) |
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Diluted earnings (loss) attributable to Â鶹app Formula One stockholders |
$ |
(30) |
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148 |
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524 |
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| Â鶹app Live Group |
Ìý
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| Schedule for Reconciliation of Basic and Diluted Weighted Average Shares |
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Year ended |
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August 4, 2023 to |
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December 31, 2024 |
ÌýÌýÌýÌý |
December 31, 2023 |
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|
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numberÌýofÌýsharesÌýinÌýmillions |
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Basic WASO |
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92 |
Ìý |
92 |
Ìý |
Potentially dilutive shares (a) |
​ |
— |
Ìý |
— |
Ìý |
Diluted WASO |
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92 |
Ìý |
92 |
Ìý |
| (a) |
Potentially dilutive shares are excluded from the computation of diluted EPS during periods in which net losses attributable to the Â鶹app Live Group are reported since the result would be antidilutive. |
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| Formula 1 |
Ìý
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| Schedule of revenue disaggregated by segment and by source |
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Years ended December 31, |
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2024 |
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2023 |
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2022 |
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amounts in millions |
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Primary |
$ |
2,757 |
​ |
2,560 |
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2,107 |
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Other |
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654 |
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662 |
​ |
466 |
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Total Formula 1 revenue |
$ |
3,411 |
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3,222 |
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2,573 |
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