Financial Information for Tracking Stock Groups (Tables)
|
3 Months Ended |
Mar. 31, 2021 |
|---|
| Condensed Balance Sheet |
BALANCE SHEET INFORMATION
March 31, 2021
(unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
​ |
​ |
​ |
Attributed (note 1) |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Â鶹×îгöÆ· |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
SiriusXM |
​ |
Braves |
​ |
Formula One |
​ |
Inter-Group |
​ |
Consolidated |
​ |
​ |
ÌýÌýÌýÌý |
Group |
​ |
Group |
​ |
Group |
​ |
Eliminations |
​ |
Â鶹×îгöÆ· |
ÌýÌýÌýÌý |
|
​ |
​ |
²¹³¾´Ç³Ü²Ô³Ù²õÌý¾±²ÔÌý³¾¾±±ô±ô¾±´Ç²Ô²õ |
​ |
Assets |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Current assets: |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Cash and cash equivalents |
​ |
$ |
1,030 |
​ |
181 |
​ |
1,783 |
​ |
— |
​ |
2,994 |
Ìý |
Trade and other receivables, net |
​ |
Ìý |
611 |
​ |
25 |
​ |
141 |
​ |
— |
​ |
777 |
Ìý |
Other current assets |
​ |
Ìý |
235 |
​ |
37 |
​ |
544 |
​ |
(384) |
​ |
432 |
Ìý |
Total current assets |
​ |
Ìý |
1,876 |
​ |
243 |
​ |
2,468 |
​ |
(384) |
​ |
4,203 |
Ìý |
Intergroup interests (note 1) |
​ |
​ |
267 |
​ |
— |
​ |
189 |
​ |
(456) |
​ |
— |
​ |
Investments in affiliates, accounted for using the equity method (noteÌý1) |
​ |
Ìý |
791 |
​ |
97 |
​ |
55 |
​ |
— |
​ |
943 |
Ìý |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Property and equipment, at cost |
​ |
Ìý |
2,657 |
​ |
994 |
​ |
199 |
​ |
— |
​ |
3,850 |
Ìý |
Accumulated depreciation |
​ |
Ìý |
(1,570) |
​ |
(192) |
​ |
(78) |
​ |
— |
​ |
(1,840) |
Ìý |
​ |
​ |
Ìý |
1,087 |
​ |
802 |
​ |
121 |
​ |
— |
​ |
2,010 |
Ìý |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Intangible assets not subject to amortization |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Goodwill |
​ |
Ìý |
15,088 |
​ |
180 |
​ |
3,956 |
​ |
— |
​ |
19,224 |
Ìý |
FCC licenses |
​ |
Ìý |
8,600 |
​ |
— |
​ |
— |
​ |
— |
​ |
8,600 |
Ìý |
Other |
​ |
Ìý |
1,242 |
​ |
143 |
​ |
— |
​ |
— |
​ |
1,385 |
Ìý |
​ |
​ |
Ìý |
24,930 |
​ |
323 |
​ |
3,956 |
​ |
— |
​ |
29,209 |
Ìý |
Intangible assets subject to amortization, net |
​ |
Ìý |
1,418 |
​ |
24 |
​ |
3,790 |
​ |
— |
​ |
5,232 |
Ìý |
Other assets |
​ |
Ìý |
1,405 |
​ |
83 |
​ |
1,422 |
​ |
(42) |
​ |
2,868 |
Ìý |
Total assets |
​ |
$ |
31,774 |
​ |
1,572 |
​ |
12,001 |
​ |
(882) |
​ |
44,465 |
Ìý |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Liabilities and Equity |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Current liabilities: |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Intergroup payable (receivable) (note 3) |
​ |
$ |
(22) |
​ |
(37) |
​ |
59 |
​ |
— |
​ |
— |
​ |
Accounts payable and accrued liabilities |
​ |
​ |
1,114 |
Ìý |
66 |
​ |
167 |
​ |
— |
​ |
1,347 |
​ |
Current portion of debt |
​ |
​ |
514 |
​ |
57 |
​ |
207 |
​ |
— |
​ |
778 |
​ |
Deferred revenue |
​ |
Ìý |
1,664 |
Ìý |
127 |
​ |
492 |
​ |
— |
​ |
2,283 |
​ |
Other current liabilities |
​ |
Ìý |
467 |
Ìý |
6 |
​ |
39 |
​ |
(384) |
​ |
128 |
​ |
Total current liabilities |
​ |
Ìý |
3,737 |
Ìý |
219 |
​ |
964 |
​ |
(384) |
​ |
4,536 |
​ |
Long-term debt (note 1) |
​ |
Ìý |
13,169 |
Ìý |
615 |
​ |
3,546 |
​ |
— |
​ |
17,330 |
​ |
Deferred income tax liabilities |
​ |
Ìý |
2,039 |
Ìý |
46 |
​ |
— |
​ |
(42) |
​ |
2,043 |
​ |
Redeemable intergroup interests (note 1) |
​ |
​ |
— |
​ |
254 |
​ |
202 |
​ |
(456) |
​ |
— |
​ |
Other liabilities |
​ |
Ìý |
673 |
Ìý |
204 |
​ |
206 |
​ |
— |
​ |
1,083 |
​ |
Total liabilities |
​ |
Ìý |
19,618 |
Ìý |
1,338 |
​ |
4,918 |
​ |
(882) |
​ |
24,992 |
​ |
Redeemable noncontrolling interests in equity of subsidiary |
​ |
​ |
— |
​ |
— |
​ |
575 |
​ |
— |
​ |
575 |
​ |
Equity / Attributed net assets |
​ |
Ìý |
7,934 |
Ìý |
234 |
​ |
6,502 |
​ |
— |
​ |
14,670 |
​ |
Noncontrolling interests in equity of subsidiaries |
​ |
Ìý |
4,222 |
Ìý |
— |
​ |
6 |
​ |
— |
​ |
4,228 |
​ |
Total liabilities and equity |
​ |
$ |
31,774 |
Ìý |
1,572 |
​ |
12,001 |
​ |
(882) |
​ |
44,465 |
​ |
|
| Condensed Statement of Operations |
STATEMENT OF OPERATIONS INFORMATION
Three months ended March 31, 2021
(unaudited)
​
|
|
|
|
|
|
|
|
|
|
|
​ |
​ |
​ |
Attributed (note 1) |
​ |
​ |
​ |
​ |
​ |
Â鶹×îгöÆ· |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
SiriusXM |
​ |
Braves |
​ |
Formula One |
​ |
Consolidated |
​ |
​ |
​ |
Group |
​ |
Group |
​ |
Group |
​ |
Â鶹×îгöÆ· |
​ |
|
​ |
​ |
amounts in millions |
​ |
Revenue: |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Sirius XM Holdings revenue |
​ |
$ |
2,058 |
Ìý |
— |
​ |
— |
​ |
2,058 |
​ |
Formula 1 revenue |
​ |
​ |
— |
​ |
— |
​ |
180 |
​ |
180 |
​ |
Other revenue |
​ |
Ìý |
— |
Ìý |
16 |
​ |
— |
​ |
16 |
​ |
Total revenue |
​ |
Ìý |
2,058 |
Ìý |
16 |
​ |
180 |
​ |
2,254 |
​ |
Operating costs and expenses, including stock-based compensation (note 2): |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Cost of services (exclusive of depreciation shown separately below): |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Revenue share and royalties |
​ |
Ìý |
640 |
Ìý |
— |
​ |
— |
​ |
640 |
​ |
Programming and content |
​ |
Ìý |
130 |
Ìý |
— |
​ |
— |
​ |
130 |
​ |
Customer service and billing |
​ |
Ìý |
117 |
Ìý |
— |
​ |
— |
​ |
117 |
​ |
Other |
​ |
Ìý |
52 |
Ìý |
— |
​ |
— |
​ |
52 |
​ |
Cost of Formula 1 revenue |
​ |
​ |
— |
​ |
— |
​ |
84 |
​ |
84 |
​ |
Subscriber acquisition costs |
​ |
Ìý |
86 |
Ìý |
— |
​ |
— |
​ |
86 |
​ |
Other operating expenses |
​ |
Ìý |
64 |
Ìý |
20 |
​ |
— |
​ |
84 |
​ |
Selling, general and administrative |
​ |
Ìý |
346 |
Ìý |
21 |
​ |
43 |
​ |
410 |
​ |
Impairment, restructuring and acquisition costs |
​ |
​ |
245 |
Ìý |
— |
​ |
— |
​ |
245 |
​ |
Depreciation and amortization |
​ |
Ìý |
149 |
Ìý |
15 |
​ |
100 |
​ |
264 |
​ |
​ |
​ |
Ìý |
1,829 |
Ìý |
56 |
​ |
227 |
​ |
2,112 |
​ |
Operating income (loss) |
​ |
Ìý |
229 |
Ìý |
(40) |
​ |
(47) |
​ |
142 |
​ |
Other income (expense): |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Interest expense |
​ |
Ìý |
(120) |
Ìý |
(6) |
​ |
(32) |
​ |
(158) |
​ |
Share of earnings (losses) of affiliates, net |
​ |
Ìý |
(113) |
Ìý |
3 |
​ |
15 |
​ |
(95) |
​ |
Realized and unrealized gains (losses) on financial instruments, net |
​ |
Ìý |
(86) |
Ìý |
2 |
​ |
35 |
​ |
(49) |
​ |
Unrealized gains (losses) on intergroup interests (note 1) |
​ |
​ |
10 |
​ |
(28) |
​ |
18 |
​ |
— |
​ |
Other, net |
​ |
Ìý |
11 |
Ìý |
(1) |
​ |
5 |
​ |
15 |
​ |
​ |
​ |
Ìý |
(298) |
Ìý |
(30) |
​ |
41 |
​ |
(287) |
​ |
Earnings (loss) before income taxes |
​ |
Ìý |
(69) |
Ìý |
(70) |
​ |
(6) |
​ |
(145) |
​ |
Income tax (expense) benefit |
​ |
Ìý |
107 |
Ìý |
11 |
​ |
13 |
​ |
131 |
​ |
Net earnings (loss) |
​ |
Ìý |
38 |
Ìý |
(59) |
​ |
7 |
​ |
(14) |
​ |
Less net earnings (loss) attributable to the noncontrolling interests |
​ |
Ìý |
49 |
Ìý |
— |
​ |
— |
​ |
49 |
​ |
Less net earnings (loss) attributable to redeemable noncontrolling interest |
​ |
​ |
— |
Ìý |
— |
​ |
53 |
​ |
53 |
​ |
Net earnings (loss) attributable to Â鶹×îгöÆ· stockholders |
​ |
$ |
(11) |
Ìý |
(59) |
​ |
(46) |
​ |
(116) |
​ |
​
STATEMENT OF OPERATIONS INFORMATION
Three months ended March 31, 2020
(unaudited)
​
|
|
|
|
|
|
|
|
|
|
|
​ |
​ |
​ |
Attributed (note 1) |
​ |
​ |
​ |
​ |
​ |
Â鶹×îгöÆ· |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
SiriusXM |
​ |
Braves |
​ |
Formula One |
​ |
Consolidated |
​ |
​ |
​ |
Group |
​ |
Group |
​ |
Group |
​ |
Â鶹×îгöÆ· |
​ |
|
​ |
​ |
amounts in millions |
​ |
Revenue: |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Sirius XM Holdings revenue |
​ |
$ |
1,952 |
Ìý |
— |
​ |
— |
​ |
1,952 |
​ |
Formula 1 revenue |
​ |
​ |
— |
​ |
— |
​ |
39 |
​ |
39 |
​ |
Other revenue |
​ |
Ìý |
— |
Ìý |
22 |
​ |
— |
​ |
22 |
​ |
Total revenue |
​ |
Ìý |
1,952 |
Ìý |
22 |
​ |
39 |
​ |
2,013 |
​ |
Operating costs and expenses, including stock-based compensation (note 2): |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Cost of services (exclusive of depreciation shown separately below): |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Revenue share and royalties |
​ |
Ìý |
570 |
Ìý |
— |
​ |
— |
​ |
570 |
​ |
Programming and content |
​ |
Ìý |
118 |
Ìý |
— |
​ |
— |
​ |
118 |
​ |
Customer service and billing |
​ |
Ìý |
118 |
Ìý |
— |
​ |
— |
​ |
118 |
​ |
Other |
​ |
Ìý |
44 |
Ìý |
— |
​ |
— |
​ |
44 |
​ |
Cost of Formula 1 revenue |
​ |
​ |
— |
​ |
— |
​ |
43 |
​ |
43 |
​ |
Subscriber acquisition costs |
​ |
Ìý |
99 |
Ìý |
— |
​ |
— |
​ |
99 |
​ |
Other operating expenses |
​ |
Ìý |
71 |
Ìý |
29 |
​ |
— |
​ |
100 |
​ |
Selling, general and administrative |
​ |
Ìý |
342 |
Ìý |
22 |
​ |
44 |
​ |
408 |
​ |
Depreciation and amortization |
​ |
Ìý |
148 |
Ìý |
15 |
​ |
104 |
​ |
267 |
​ |
​ |
​ |
Ìý |
1,510 |
Ìý |
66 |
​ |
191 |
​ |
1,767 |
​ |
Operating income (loss) |
​ |
Ìý |
442 |
Ìý |
(44) |
​ |
(152) |
​ |
246 |
​ |
Other income (expense): |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Interest expense |
​ |
Ìý |
(111) |
Ìý |
(7) |
​ |
(46) |
​ |
(164) |
​ |
Share of earnings (losses) of affiliates, net |
​ |
Ìý |
(2) |
Ìý |
4 |
​ |
(64) |
​ |
(62) |
​ |
Realized and unrealized gains (losses) on financial instruments, net |
​ |
Ìý |
(5) |
Ìý |
(9) |
​ |
15 |
​ |
1 |
​ |
Unrealized gains (losses) on intergroup interests (note 1) |
​ |
​ |
31 |
​ |
95 |
​ |
(126) |
​ |
— |
​ |
Other, net |
​ |
Ìý |
13 |
Ìý |
(1) |
​ |
5 |
​ |
17 |
​ |
​ |
​ |
Ìý |
(74) |
Ìý |
82 |
​ |
(216) |
​ |
(208) |
​ |
Earnings (loss) before income taxes |
​ |
Ìý |
368 |
Ìý |
38 |
​ |
(368) |
​ |
38 |
​ |
Income tax (expense) benefit |
​ |
Ìý |
(76) |
Ìý |
15 |
​ |
25 |
​ |
(36) |
​ |
Net earnings (loss) |
​ |
Ìý |
292 |
Ìý |
53 |
​ |
(343) |
​ |
2 |
​ |
Less net earnings (loss) attributable to the noncontrolling interests |
​ |
Ìý |
78 |
Ìý |
— |
​ |
— |
​ |
78 |
​ |
Net earnings (loss) attributable to Â鶹×îгöÆ· stockholders |
​ |
$ |
214 |
Ìý |
53 |
​ |
(343) |
​ |
(76) |
​ |
​
​
|
| Condensed Statement of Cash Flows |
STATEMENT OF CASH FLOWS INFORMATION
Three months ended March 31, 2021
(unaudited)
​
|
|
|
|
|
|
|
|
|
|
|
​ |
​ |
​ |
Attributed (note 1) |
​ |
​ |
​ |
​ |
​ |
Â鶹×îгöÆ· |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
SiriusXM |
​ |
Braves |
​ |
Formula One |
​ |
Consolidated |
​ |
​ |
​ |
Group |
​ |
Group |
​ |
Group |
​ |
Â鶹×îгöÆ· |
​ |
|
​ |
​ |
²¹³¾´Ç³Ü²Ô³Ù²õÌý¾±²ÔÌý³¾¾±±ô±ô¾±´Ç²Ô²õ |
​ |
Cash flows from operating activities: |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Net earnings (loss) |
​ |
$ |
38 |
Ìý |
(59) |
​ |
7 |
​ |
(14) |
​ |
Adjustments to reconcile net earnings to net cash provided by operating activities: |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Depreciation and amortization |
​ |
Ìý |
149 |
Ìý |
15 |
​ |
100 |
​ |
264 |
​ |
Stock-based compensation |
​ |
Ìý |
54 |
Ìý |
3 |
​ |
6 |
​ |
63 |
​ |
Impairment, restructuring and acquisition costs |
​ |
​ |
245 |
​ |
— |
​ |
— |
​ |
245 |
​ |
Share of (earnings) loss of affiliates, net |
​ |
Ìý |
113 |
Ìý |
(3) |
​ |
(15) |
​ |
95 |
​ |
Unrealized (gains) losses on intergroup interests, net |
​ |
​ |
(10) |
​ |
28 |
​ |
(18) |
​ |
— |
​ |
Realized and unrealized (gains) losses on financial instruments, net |
​ |
Ìý |
86 |
Ìý |
(2) |
​ |
(35) |
​ |
49 |
​ |
Deferred income tax expense (benefit) |
​ |
Ìý |
(121) |
Ìý |
(7) |
​ |
(15) |
​ |
(143) |
​ |
Intergroup tax allocation |
​ |
​ |
1 |
​ |
(3) |
​ |
2 |
​ |
— |
​ |
Other charges (credits), net |
​ |
Ìý |
(3) |
Ìý |
— |
​ |
2 |
​ |
(1) |
​ |
Changes in operating assets and liabilities |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Current and other assets |
​ |
Ìý |
58 |
Ìý |
36 |
​ |
(102) |
​ |
(8) |
​ |
Payables and other liabilities |
​ |
Ìý |
(339) |
Ìý |
34 |
​ |
252 |
​ |
(53) |
​ |
Net cash provided (used) by operating activities |
​ |
Ìý |
271 |
Ìý |
42 |
​ |
184 |
​ |
497 |
​ |
Cash flows from investing activities: |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Investments in equity method affiliates and debt and equity securities |
​ |
Ìý |
(5) |
Ìý |
— |
​ |
(53) |
​ |
(58) |
​ |
Investment of subsidiary initial public offering proceeds into trust account |
​ |
​ |
— |
​ |
— |
​ |
(575) |
​ |
(575) |
​ |
Capital expended for property and equipment, including internal-use software and website development |
​ |
Ìý |
(78) |
Ìý |
(10) |
​ |
(3) |
​ |
(91) |
​ |
Other investing activities, net |
​ |
Ìý |
8 |
Ìý |
— |
​ |
— |
​ |
8 |
​ |
Net cash provided (used) by investing activities |
​ |
Ìý |
(75) |
Ìý |
(10) |
​ |
(631) |
​ |
(716) |
​ |
Cash flows from financing activities: |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Borrowings of debt |
​ |
Ìý |
1,083 |
Ìý |
8 |
​ |
(1) |
​ |
1,090 |
​ |
Repayments of debt |
​ |
Ìý |
(585) |
Ìý |
(6) |
​ |
(2) |
​ |
(593) |
​ |
Â鶹×îгöÆ· SiriusXM stock repurchases |
​ |
​ |
(107) |
​ |
— |
​ |
— |
​ |
(107) |
​ |
Subsidiary shares repurchased by subsidiary |
​ |
Ìý |
(522) |
Ìý |
— |
​ |
— |
​ |
(522) |
​ |
Cash dividends paid by subsidiary |
​ |
​ |
(14) |
​ |
— |
​ |
— |
​ |
(14) |
​ |
Taxes paid in lieu of shares issued for stock-based compensation |
​ |
Ìý |
(21) |
Ìý |
— |
​ |
(1) |
​ |
(22) |
​ |
Proceeds from initial public offering of subsidiary |
​ |
​ |
— |
​ |
— |
​ |
575 |
​ |
575 |
​ |
Other financing activities, net |
​ |
​ |
— |
​ |
(1) |
​ |
(23) |
​ |
(24) |
​ |
Net cash provided (used) by financing activities |
​ |
Ìý |
(166) |
Ìý |
1 |
​ |
548 |
​ |
383 |
​ |
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash |
​ |
​ |
— |
​ |
— |
​ |
(2) |
​ |
(2) |
​ |
Net increase (decrease) in cash, cash equivalents and restricted cash |
​ |
Ìý |
30 |
Ìý |
33 |
​ |
99 |
​ |
162 |
​ |
Cash, cash equivalents and restricted cash at beginning of period |
​ |
Ìý |
1,008 |
Ìý |
185 |
​ |
1,684 |
​ |
2,877 |
​ |
Cash, cash equivalents and restricted cash at end of period |
​ |
$ |
1,038 |
Ìý |
218 |
​ |
1,783 |
​ |
3,039 |
​ |
​
STATEMENT OF CASH FLOWS INFORMATION
Three months ended March 31, 2020
(unaudited)
​
|
|
|
|
|
|
|
|
|
|
|
​ |
​ |
​ |
Attributed (note 1) |
​ |
​ |
​ |
​ |
​ |
Â鶹×îгöÆ· |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
SiriusXM |
​ |
Braves |
​ |
Formula One |
​ |
Consolidated |
​ |
​ |
​ |
Group |
​ |
Group |
​ |
Group |
​ |
Â鶹×îгöÆ· |
​ |
|
​ |
​ |
²¹³¾´Ç³Ü²Ô³Ù²õÌý¾±²ÔÌý³¾¾±±ô±ô¾±´Ç²Ô²õ |
​ |
Cash flows from operating activities: |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Net earnings (loss) |
​ |
$ |
292 |
Ìý |
53 |
​ |
(343) |
​ |
2 |
​ |
Adjustments to reconcile net earnings to net cash provided by operating activities: |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Depreciation and amortization |
​ |
Ìý |
148 |
Ìý |
15 |
​ |
104 |
​ |
267 |
​ |
Stock-based compensation |
​ |
Ìý |
58 |
Ìý |
3 |
​ |
6 |
​ |
67 |
​ |
Share of (earnings) loss of affiliates, net |
​ |
Ìý |
2 |
Ìý |
(4) |
​ |
64 |
​ |
62 |
​ |
Unrealized (gains) losses on intergroup interests, net |
​ |
​ |
(31) |
​ |
(95) |
​ |
126 |
​ |
— |
​ |
Realized and unrealized (gains) losses on financial instruments, net |
​ |
Ìý |
5 |
Ìý |
9 |
​ |
(15) |
​ |
(1) |
​ |
Deferred income tax expense (benefit) |
​ |
Ìý |
67 |
Ìý |
(13) |
​ |
(15) |
​ |
39 |
​ |
Intergroup tax allocation |
​ |
​ |
1 |
​ |
(2) |
​ |
1 |
​ |
— |
​ |
Other charges (credits), net |
​ |
Ìý |
4 |
Ìý |
3 |
​ |
3 |
​ |
10 |
​ |
Changes in operating assets and liabilities |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Current and other assets |
​ |
Ìý |
72 |
Ìý |
19 |
​ |
(125) |
​ |
(34) |
​ |
Payables and other liabilities |
​ |
Ìý |
(214) |
Ìý |
29 |
​ |
330 |
​ |
145 |
​ |
Net cash provided (used) by operating activities |
​ |
Ìý |
404 |
Ìý |
17 |
​ |
136 |
​ |
557 |
​ |
Cash flows from investing activities: |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Investments in equity method affiliates and debt and equity securities |
​ |
Ìý |
(81) |
Ìý |
— |
​ |
(1) |
​ |
(82) |
​ |
Return of investment in equity method affiliates |
​ |
​ |
— |
​ |
— |
​ |
105 |
​ |
105 |
​ |
Capital expended for property and equipment, including internal-use software and website development |
​ |
Ìý |
(62) |
Ìý |
(24) |
​ |
(2) |
​ |
(88) |
​ |
Other investing activities, net |
​ |
Ìý |
(1) |
Ìý |
— |
​ |
8 |
​ |
7 |
​ |
Net cash provided (used) by investing activities |
​ |
Ìý |
(144) |
Ìý |
(24) |
​ |
110 |
​ |
(58) |
​ |
Cash flows from financing activities: |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Borrowings of debt |
​ |
Ìý |
204 |
Ìý |
174 |
​ |
475 |
​ |
853 |
​ |
Repayments of debt |
​ |
Ìý |
(206) |
Ìý |
(35) |
​ |
(131) |
​ |
(372) |
​ |
Â鶹×îгöÆ· SiriusXM stock repurchases |
​ |
​ |
(69) |
​ |
— |
​ |
(69) |
​ |
(138) |
​ |
Subsidiary shares repurchased by subsidiary |
​ |
Ìý |
(243) |
Ìý |
— |
​ |
— |
​ |
(243) |
​ |
Cash dividends paid by subsidiary |
​ |
​ |
(17) |
​ |
— |
​ |
— |
​ |
(17) |
​ |
Taxes paid in lieu of shares issued for stock-based compensation |
​ |
Ìý |
(36) |
Ìý |
— |
​ |
(2) |
​ |
(38) |
​ |
Other financing activities, net |
​ |
​ |
(2) |
​ |
(1) |
​ |
(4) |
​ |
(7) |
​ |
Net cash provided (used) by financing activities |
​ |
Ìý |
(369) |
Ìý |
138 |
​ |
269 |
​ |
38 |
​ |
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash |
​ |
​ |
— |
​ |
— |
​ |
(8) |
​ |
(8) |
​ |
Net increase (decrease) in cash, cash equivalents and restricted cash |
​ |
Ìý |
(109) |
Ìý |
131 |
​ |
507 |
​ |
529 |
​ |
Cash, cash equivalents and restricted cash at beginning of period |
​ |
Ìý |
507 |
Ìý |
212 |
​ |
587 |
​ |
1,306 |
​ |
Cash, cash equivalents and restricted cash at end of period |
​ |
$ |
398 |
Ìý |
343 |
​ |
1,094 |
​ |
1,835 |
​ |
|