Financial Information for Tracking Stock Groups (Tables)
|
12 Months Ended |
Dec. 31, 2023 |
|---|
| Financial Information for Tracking Stock Groups |
Ìý
|
| Condensed Balance Sheets |
BALANCE SHEET INFORMATION
December 31, 2023
(unaudited)
​
|
|
|
|
|
|
|
|
|
|
|
|
|
​ |
​ |
​ |
Attributed (note 1) |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Â鶹×îгöÆ· |
​ |
​ |
​ |
Â鶹×îгöÆ· |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
SiriusXM |
​ |
Formula One |
​ |
Live |
​ |
Inter-Group |
​ |
Consolidated |
​ |
​ |
ÌýÌýÌýÌý |
Group |
​ |
Group |
​ |
Group |
​ |
Eliminations |
​ |
Â鶹×îгöÆ· |
ÌýÌýÌýÌý |
|
​ |
​ |
amountsÌýinÌýmillions |
​ |
Assets |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Current assets: |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Cash and cash equivalents |
​ |
$ |
306 |
​ |
1,408 |
​ |
305 |
​ |
— |
​ |
2,019 |
Ìý |
Trade and other receivables, net |
​ |
Ìý |
709 |
​ |
123 |
​ |
— |
​ |
— |
​ |
832 |
Ìý |
Other current assets |
​ |
Ìý |
346 |
​ |
180 |
​ |
— |
​ |
— |
​ |
526 |
Ìý |
Total current assets |
​ |
Ìý |
1,361 |
​ |
1,711 |
​ |
305 |
​ |
— |
​ |
3,377 |
Ìý |
Investments in affiliates, accounted for using the equity method (note 1) |
​ |
Ìý |
715 |
​ |
41 |
​ |
333 |
​ |
— |
​ |
1,089 |
Ìý |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Property and equipment, at cost |
​ |
Ìý |
3,105 |
​ |
973 |
​ |
— |
​ |
— |
​ |
4,078 |
Ìý |
Accumulated depreciation |
​ |
Ìý |
(1,860) |
​ |
(135) |
​ |
— |
​ |
— |
​ |
(1,995) |
Ìý |
​ |
​ |
Ìý |
1,245 |
​ |
838 |
​ |
— |
​ |
— |
​ |
2,083 |
Ìý |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Intangible assets not subject to amortization |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Goodwill |
​ |
Ìý |
15,209 |
​ |
3,956 |
​ |
— |
​ |
— |
​ |
19,165 |
Ìý |
FCC licenses |
​ |
Ìý |
8,600 |
​ |
— |
​ |
— |
​ |
— |
​ |
8,600 |
Ìý |
Other |
​ |
Ìý |
1,242 |
​ |
— |
​ |
— |
​ |
— |
​ |
1,242 |
Ìý |
​ |
​ |
Ìý |
25,051 |
​ |
3,956 |
​ |
— |
​ |
— |
​ |
29,007 |
Ìý |
Intangible assets subject to amortization, net |
​ |
Ìý |
1,014 |
​ |
2,858 |
​ |
— |
​ |
— |
​ |
3,872 |
Ìý |
Other assets |
​ |
Ìý |
515 |
​ |
863 |
​ |
524 |
​ |
(162) |
​ |
1,740 |
Ìý |
Total assets |
​ |
$ |
29,901 |
​ |
10,267 |
​ |
1,162 |
​ |
(162) |
​ |
41,168 |
Ìý |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Liabilities and Equity |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Current liabilities: |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Intergroup payable (receivable) (note 4) |
​ |
$ |
62 |
​ |
(63) |
​ |
1 |
​ |
— |
​ |
— |
​ |
Accounts payable and accrued liabilities |
​ |
​ |
1,474 |
​ |
535 |
Ìý |
1 |
​ |
— |
​ |
2,010 |
​ |
Current portion of debt (noteÌý1) |
​ |
Ìý |
1,074 |
​ |
36 |
Ìý |
70 |
​ |
— |
​ |
1,180 |
​ |
Deferred revenue |
​ |
Ìý |
1,195 |
​ |
247 |
Ìý |
— |
​ |
— |
​ |
1,442 |
​ |
Other current liabilities |
​ |
Ìý |
71 |
​ |
32 |
Ìý |
8 |
​ |
— |
​ |
111 |
​ |
Total current liabilities |
​ |
Ìý |
3,876 |
​ |
787 |
Ìý |
80 |
​ |
— |
​ |
4,743 |
​ |
Long-term debt (note 1) |
​ |
Ìý |
10,063 |
​ |
2,870 |
Ìý |
1,247 |
​ |
— |
​ |
14,180 |
​ |
Deferred income tax liabilities (note 3) |
​ |
Ìý |
2,245 |
​ |
3 |
Ìý |
— |
​ |
(162) |
​ |
2,086 |
​ |
Other liabilities |
​ |
Ìý |
526 |
​ |
188 |
Ìý |
— |
​ |
— |
​ |
714 |
​ |
Total liabilities |
​ |
Ìý |
16,710 |
​ |
3,848 |
Ìý |
1,327 |
​ |
(162) |
​ |
21,723 |
​ |
Equity / Attributed net assets |
​ |
Ìý |
10,165 |
​ |
6,419 |
Ìý |
(188) |
​ |
— |
​ |
16,396 |
​ |
Noncontrolling interests in equity of subsidiaries |
​ |
Ìý |
3,026 |
​ |
— |
Ìý |
23 |
​ |
— |
​ |
3,049 |
​ |
Total liabilities and equity |
​ |
$ |
29,901 |
​ |
10,267 |
Ìý |
1,162 |
​ |
(162) |
​ |
41,168 |
​ |
​
BALANCE SHEET INFORMATION
December 31, 2022
(unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
​ |
​ |
​ |
Attributed (note 1) |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Â鶹×îгöÆ· |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
SiriusXM |
​ |
Formula One |
​ |
Braves |
​ |
Inter-Group |
​ |
Consolidated |
​ |
​ |
ÌýÌýÌýÌý |
Group |
​ |
Group |
​ |
Group |
​ |
Eliminations |
​ |
Â鶹×îгöÆ· |
ÌýÌýÌýÌý |
|
​ |
​ |
amountsÌýinÌýmillions |
​ |
Assets |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Current assets: |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Cash and cash equivalents |
​ |
$ |
362 |
​ |
1,733 |
​ |
151 |
​ |
— |
​ |
2,246 |
Ìý |
Trade and other receivables, net |
​ |
Ìý |
669 |
​ |
123 |
​ |
45 |
​ |
— |
​ |
837 |
Ìý |
Other current assets |
​ |
Ìý |
523 |
​ |
167 |
​ |
78 |
​ |
— |
​ |
768 |
Ìý |
Total current assets |
​ |
Ìý |
1,554 |
​ |
2,023 |
​ |
274 |
​ |
— |
​ |
3,851 |
Ìý |
Intergroup interests (note 1) |
​ |
Ìý |
282 |
​ |
219 |
​ |
— |
​ |
(501) |
​ |
— |
Ìý |
Investments in affiliates, accounted for using the equity method (noteÌý1) |
​ |
​ |
823 |
​ |
34 |
​ |
95 |
​ |
— |
​ |
952 |
​ |
​ |
​ |
Ìý |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Ìý |
Property and equipment, at cost |
​ |
Ìý |
2,957 |
​ |
516 |
​ |
1,008 |
​ |
— |
​ |
4,481 |
Ìý |
Accumulated depreciation |
​ |
Ìý |
(1,840) |
​ |
(108) |
​ |
(278) |
​ |
— |
​ |
(2,226) |
Ìý |
​ |
​ |
​ |
1,117 |
​ |
408 |
​ |
730 |
​ |
— |
​ |
2,255 |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Intangible assets not subject to amortization |
​ |
Ìý |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Ìý |
Goodwill |
​ |
Ìý |
15,209 |
​ |
3,956 |
​ |
176 |
​ |
— |
​ |
19,341 |
Ìý |
FCC licenses |
​ |
Ìý |
8,600 |
​ |
— |
​ |
— |
​ |
— |
​ |
8,600 |
Ìý |
Other |
​ |
Ìý |
1,242 |
​ |
— |
​ |
124 |
​ |
— |
​ |
1,366 |
Ìý |
​ |
​ |
Ìý |
25,051 |
​ |
3,956 |
​ |
300 |
​ |
— |
​ |
29,307 |
Ìý |
Intangible assets subject to amortization, net |
​ |
Ìý |
1,101 |
​ |
3,163 |
​ |
24 |
​ |
— |
​ |
4,288 |
Ìý |
Other assets |
​ |
​ |
551 |
​ |
1,213 |
​ |
54 |
​ |
(7) |
​ |
1,811 |
Ìý |
Total assets |
​ |
$ |
30,479 |
​ |
11,016 |
​ |
1,477 |
​ |
(508) |
​ |
42,464 |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Liabilities and Equity |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Current liabilities: |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Intergroup payable (receivable) (note 4) |
​ |
$ |
7 |
​ |
— |
​ |
(7) |
​ |
— |
​ |
— |
​ |
Accounts payable and accrued liabilities |
​ |
Ìý |
1,405 |
​ |
396 |
Ìý |
55 |
​ |
— |
​ |
1,856 |
​ |
Current portion of debt (noteÌý1) |
​ |
Ìý |
1,543 |
​ |
61 |
Ìý |
75 |
​ |
— |
​ |
1,679 |
​ |
Deferred revenue |
​ |
Ìý |
1,321 |
​ |
347 |
Ìý |
105 |
​ |
— |
​ |
1,773 |
​ |
Other current liabilities |
​ |
Ìý |
68 |
​ |
29 |
Ìý |
5 |
​ |
— |
​ |
102 |
​ |
Total current liabilities |
​ |
Ìý |
4,344 |
​ |
833 |
Ìý |
233 |
​ |
— |
​ |
5,410 |
​ |
Long-term debt (note 1) |
​ |
Ìý |
11,600 |
​ |
2,886 |
Ìý |
467 |
​ |
— |
​ |
14,953 |
​ |
Deferred income tax liabilities (note 3) |
​ |
Ìý |
2,054 |
​ |
— |
Ìý |
54 |
​ |
(7) |
​ |
2,101 |
​ |
Redeemable intergroup interests (note 1) |
​ |
Ìý |
— |
​ |
223 |
​ |
278 |
​ |
(501) |
​ |
— |
​ |
Other liabilities |
​ |
Ìý |
584 |
​ |
139 |
Ìý |
151 |
​ |
— |
​ |
874 |
​ |
Total liabilities |
​ |
Ìý |
18,582 |
​ |
4,081 |
Ìý |
1,183 |
​ |
(508) |
​ |
23,338 |
​ |
Equity / Attributed net assets |
​ |
​ |
8,759 |
​ |
6,910 |
Ìý |
294 |
​ |
— |
​ |
15,963 |
​ |
Noncontrolling interests in equity of subsidiaries |
​ |
​ |
3,138 |
​ |
25 |
Ìý |
— |
​ |
— |
​ |
3,163 |
​ |
Total liabilities and equity |
​ |
$ |
30,479 |
​ |
11,016 |
Ìý |
1,477 |
​ |
(508) |
​ |
42,464 |
​ |
​
|
| Condensed Statement of Operations |
STATEMENT OF OPERATIONS INFORMATION
December 31, 2023
(unaudited)
​
|
|
|
|
|
|
|
|
|
|
|
|
|
​ |
​ |
​ |
Attributed (note 1) |
​ |
​ |
​ |
​ |
​ |
Â鶹×îгöÆ· |
​ |
​ |
​ |
Â鶹×îгöÆ· |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
SiriusXM |
​ |
Formula One |
​ |
Live |
​ |
Braves |
​ |
Consolidated |
​ |
​ |
​ |
Group |
​ |
Group |
​ |
Group |
​ |
Group |
​ |
Â鶹×îгöÆ· |
​ |
|
​ |
​ |
amounts in millions |
​ |
Revenue: |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Sirius XM Holdings revenue |
​ |
$ |
8,953 |
​ |
— |
​ |
— |
Ìý |
— |
​ |
8,953 |
​ |
Formula 1 revenue |
​ |
​ |
— |
​ |
3,222 |
​ |
— |
​ |
— |
​ |
3,222 |
​ |
Other revenue |
​ |
Ìý |
— |
​ |
— |
​ |
— |
Ìý |
350 |
​ |
350 |
​ |
Total revenue |
​ |
Ìý |
8,953 |
​ |
3,222 |
​ |
— |
Ìý |
350 |
​ |
12,525 |
​ |
Operating costs and expenses, including stock-based compensation (note 2): |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Cost of Sirius XM Holdings services (exclusive of depreciation shown separately below): |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Revenue share and royalties |
​ |
Ìý |
2,895 |
​ |
— |
​ |
— |
Ìý |
— |
​ |
2,895 |
​ |
Programming and content |
​ |
Ìý |
618 |
​ |
— |
​ |
— |
Ìý |
— |
​ |
618 |
​ |
Customer service and billing |
​ |
Ìý |
476 |
​ |
— |
​ |
— |
Ìý |
— |
​ |
476 |
​ |
Other |
​ |
Ìý |
220 |
​ |
— |
​ |
— |
Ìý |
— |
​ |
220 |
​ |
Cost of Formula 1 revenue (exclusive of depreciation shown separately below) |
​ |
​ |
— |
​ |
2,240 |
​ |
— |
Ìý |
— |
​ |
2,240 |
​ |
Subscriber acquisition costs |
​ |
Ìý |
359 |
​ |
— |
​ |
— |
Ìý |
— |
​ |
359 |
​ |
Other operating expenses |
​ |
Ìý |
322 |
​ |
— |
​ |
— |
Ìý |
274 |
​ |
596 |
​ |
Selling, general and administrative |
​ |
Ìý |
1,534 |
​ |
316 |
​ |
11 |
Ìý |
69 |
​ |
1,930 |
​ |
Depreciation and amortization |
​ |
Ìý |
624 |
​ |
369 |
​ |
— |
Ìý |
37 |
​ |
1,030 |
​ |
Impairment, restructuring and acquisition costs, net of recoveries |
​ |
​ |
66 |
​ |
— |
​ |
— |
Ìý |
1 |
​ |
67 |
​ |
Litigation settlements, net of recoveries |
​ |
​ |
31 |
​ |
— |
​ |
— |
Ìý |
— |
​ |
31 |
​ |
​ |
​ |
Ìý |
7,145 |
​ |
2,925 |
​ |
11 |
Ìý |
381 |
​ |
10,462 |
​ |
Operating income (loss) |
​ |
Ìý |
1,808 |
​ |
297 |
​ |
(11) |
Ìý |
(31) |
​ |
2,063 |
​ |
Other income (expense): |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Interest expense |
​ |
Ìý |
(538) |
​ |
(214) |
​ |
(10) |
Ìý |
(20) |
​ |
(782) |
​ |
Share of earnings (losses) of affiliates, net |
​ |
Ìý |
108 |
​ |
(4) |
​ |
22 |
Ìý |
12 |
​ |
138 |
​ |
Unrealized gain/(loss) on intergroup interests |
​ |
​ |
68 |
​ |
15 |
​ |
— |
​ |
(83) |
​ |
— |
​ |
Realized and unrealized gains (losses) on financial instruments, net |
​ |
Ìý |
(215) |
​ |
42 |
​ |
(153) |
Ìý |
3 |
​ |
(323) |
​ |
Gains (losses) on dilution of investment in affiliate |
​ |
​ |
(6) |
​ |
— |
​ |
2 |
Ìý |
— |
​ |
(4) |
​ |
Other, net |
​ |
Ìý |
43 |
​ |
75 |
​ |
(30) |
Ìý |
5 |
​ |
93 |
​ |
​ |
​ |
Ìý |
(540) |
​ |
(86) |
​ |
(169) |
Ìý |
(83) |
​ |
(878) |
​ |
Earnings (loss) before income taxes |
​ |
Ìý |
1,268 |
​ |
211 |
​ |
(180) |
Ìý |
(114) |
​ |
1,185 |
​ |
Income tax (expense) benefit (note 3) |
​ |
Ìý |
(237) |
​ |
(27) |
​ |
38 |
Ìý |
3 |
​ |
(223) |
​ |
Net earnings (loss) |
​ |
Ìý |
1,031 |
​ |
184 |
​ |
(142) |
Ìý |
(111) |
​ |
962 |
​ |
Less net earnings (loss) attributable to the noncontrolling interests |
​ |
Ìý |
202 |
​ |
(1) |
​ |
— |
Ìý |
— |
​ |
201 |
​ |
Net earnings (loss) attributable to Â鶹×îгöÆ· stockholders |
​ |
$ |
829 |
​ |
185 |
​ |
(142) |
Ìý |
(111) |
​ |
761 |
​ |
​
STATEMENT OF OPERATIONS INFORMATION
December 31, 2022
(unaudited)
​
|
|
|
|
|
|
|
|
|
|
|
​ |
​ |
​ |
Attributed (note 1) |
​ |
​ |
​ |
​ |
​ |
Â鶹×îгöÆ· |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
SiriusXM |
​ |
Formula One |
​ |
Braves |
​ |
Consolidated |
​ |
​ |
​ |
Group |
​ |
Group |
​ |
Group |
​ |
Â鶹×îгöÆ· |
​ |
|
​ |
​ |
amounts in millions |
​ |
Revenue: |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Sirius XM Holdings revenue |
​ |
$ |
9,003 |
​ |
— |
Ìý |
— |
​ |
9,003 |
​ |
Formula 1 revenue |
​ |
​ |
— |
​ |
2,573 |
​ |
— |
​ |
2,573 |
​ |
Other revenue |
​ |
Ìý |
— |
​ |
— |
Ìý |
588 |
​ |
588 |
​ |
Total revenue |
​ |
Ìý |
9,003 |
​ |
2,573 |
Ìý |
588 |
​ |
12,164 |
​ |
Operating costs and expenses, including stock-based compensation (note 2): |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Cost of Sirius XM Holdings services (exclusive of depreciation shown separately below): |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Revenue share and royalties |
​ |
Ìý |
2,802 |
​ |
— |
Ìý |
— |
​ |
2,802 |
​ |
Programming and content |
​ |
Ìý |
604 |
​ |
— |
Ìý |
— |
​ |
604 |
​ |
Customer service and billing |
​ |
Ìý |
497 |
​ |
— |
Ìý |
— |
​ |
497 |
​ |
Other |
​ |
Ìý |
227 |
​ |
— |
Ìý |
— |
​ |
227 |
​ |
Cost of Formula 1 revenue (exclusive of depreciation shown separately below) |
​ |
​ |
— |
​ |
1,750 |
Ìý |
— |
​ |
1,750 |
​ |
Subscriber acquisition costs |
​ |
Ìý |
352 |
​ |
— |
Ìý |
— |
​ |
352 |
​ |
Other operating expenses |
​ |
Ìý |
285 |
​ |
— |
Ìý |
434 |
​ |
719 |
​ |
Selling, general and administrative |
​ |
Ìý |
1,638 |
​ |
288 |
Ìý |
105 |
​ |
2,031 |
​ |
Depreciation and amortization |
​ |
Ìý |
611 |
​ |
362 |
Ìý |
71 |
​ |
1,044 |
​ |
Impairment, restructuring and acquisition costs, net of recoveries |
​ |
​ |
68 |
​ |
— |
Ìý |
6 |
​ |
74 |
​ |
​ |
​ |
Ìý |
7,084 |
​ |
2,400 |
Ìý |
616 |
​ |
10,100 |
​ |
Operating income (loss) |
​ |
Ìý |
1,919 |
​ |
173 |
Ìý |
(28) |
​ |
2,064 |
​ |
Other income (expense): |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Interest expense |
​ |
Ìý |
(511) |
​ |
(149) |
Ìý |
(29) |
​ |
(689) |
​ |
Share of earnings (losses) of affiliates, net |
​ |
Ìý |
67 |
​ |
— |
Ìý |
32 |
​ |
99 |
​ |
Unrealized gain/(loss) on intergroup interests |
​ |
​ |
(19) |
​ |
54 |
​ |
(35) |
​ |
— |
​ |
Realized and unrealized gains (losses) on financial instruments, net |
​ |
Ìý |
471 |
​ |
115 |
Ìý |
13 |
​ |
599 |
​ |
Gains (losses) on dilution of investment in affiliate |
​ |
​ |
10 |
​ |
— |
Ìý |
— |
​ |
10 |
​ |
Other, net |
​ |
Ìý |
32 |
​ |
58 |
Ìý |
20 |
​ |
110 |
​ |
​ |
​ |
Ìý |
50 |
​ |
78 |
Ìý |
1 |
​ |
129 |
​ |
Earnings (loss) before income taxes |
​ |
Ìý |
1,969 |
​ |
251 |
Ìý |
(27) |
​ |
2,193 |
​ |
Income tax (expense) benefit (note 3) |
​ |
Ìý |
(467) |
​ |
311 |
Ìý |
(8) |
​ |
(164) |
​ |
Net earnings (loss) |
​ |
Ìý |
1,502 |
​ |
562 |
Ìý |
(35) |
​ |
2,029 |
​ |
Less net earnings (loss) attributable to the noncontrolling interests |
​ |
Ìý |
210 |
​ |
17 |
Ìý |
— |
​ |
227 |
​ |
Less net earnings (loss) attributable to the redeemable noncontrolling interests |
​ |
​ |
— |
​ |
(13) |
Ìý |
— |
​ |
(13) |
​ |
Net earnings (loss) attributable to Â鶹×îгöÆ· stockholders |
​ |
$ |
1,292 |
​ |
558 |
Ìý |
(35) |
​ |
1,815 |
​ |
​
STATEMENT OF OPERATIONS INFORMATION
December 31, 2021
(unaudited)
​
|
|
|
|
|
|
|
|
|
|
|
​ |
​ |
​ |
Attributed (note 1) |
​ |
​ |
​ |
​ |
​ |
Â鶹×îгöÆ· |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
SiriusXM |
​ |
Formula One |
​ |
Braves |
​ |
Consolidated |
​ |
​ |
​ |
Group |
​ |
Group |
​ |
Group |
​ |
Â鶹×îгöÆ· |
​ |
|
​ |
​ |
amounts in millions |
​ |
Revenue: |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Sirius XM Holdings revenue |
​ |
$ |
8,696 |
​ |
— |
Ìý |
— |
​ |
8,696 |
​ |
Formula 1 revenue |
​ |
​ |
— |
​ |
2,136 |
​ |
— |
​ |
2,136 |
​ |
Other revenue |
​ |
Ìý |
— |
​ |
— |
Ìý |
568 |
​ |
568 |
​ |
Total revenue |
​ |
Ìý |
8,696 |
​ |
2,136 |
Ìý |
568 |
​ |
11,400 |
​ |
Operating costs and expenses, including stock-based compensation (note 2): |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Cost of Sirius XM Holdings services (exclusive of depreciation shown separately below): |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Revenue share and royalties |
​ |
Ìý |
2,672 |
​ |
— |
Ìý |
— |
​ |
2,672 |
​ |
Programming and content |
​ |
Ìý |
559 |
​ |
— |
Ìý |
— |
​ |
559 |
​ |
Customer service and billing |
​ |
Ìý |
501 |
​ |
— |
Ìý |
— |
​ |
501 |
​ |
Other |
​ |
Ìý |
236 |
​ |
— |
Ìý |
— |
​ |
236 |
​ |
Cost of Formula 1 revenue (exclusive of depreciation shown separately below) |
​ |
​ |
— |
​ |
1,489 |
Ìý |
— |
​ |
1,489 |
​ |
Subscriber acquisition costs |
​ |
Ìý |
325 |
​ |
— |
Ìý |
— |
​ |
325 |
​ |
Other operating expenses |
​ |
Ìý |
265 |
​ |
— |
Ìý |
377 |
​ |
642 |
​ |
Selling, general and administrative |
​ |
Ìý |
1,598 |
​ |
210 |
Ìý |
99 |
​ |
1,907 |
​ |
Depreciation and amortization |
​ |
Ìý |
603 |
​ |
397 |
Ìý |
72 |
​ |
1,072 |
​ |
Impairment, restructuring and acquisition costs, net of recoveries |
​ |
​ |
20 |
​ |
— |
Ìý |
— |
​ |
20 |
​ |
​ |
​ |
Ìý |
6,779 |
​ |
2,096 |
Ìý |
548 |
​ |
9,423 |
​ |
Operating income (loss) |
​ |
Ìý |
1,917 |
​ |
40 |
Ìý |
20 |
​ |
1,977 |
​ |
Other income (expense): |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Interest expense |
​ |
Ìý |
(495) |
​ |
(123) |
Ìý |
(24) |
​ |
(642) |
​ |
Share of earnings (losses) of affiliates, net |
​ |
Ìý |
(253) |
​ |
23 |
Ìý |
30 |
​ |
(200) |
​ |
Unrealized gain/(loss) on inter-group interests |
​ |
​ |
121 |
​ |
(90) |
​ |
(31) |
​ |
— |
​ |
Realized and unrealized gains (losses) on financial instruments, net |
​ |
Ìý |
(433) |
​ |
(21) |
Ìý |
3 |
​ |
(451) |
​ |
Gains (losses) on dilution of investment in affiliate |
​ |
​ |
152 |
​ |
— |
​ |
— |
​ |
152 |
​ |
Other, net |
​ |
Ìý |
(60) |
​ |
14 |
Ìý |
(1) |
​ |
(47) |
​ |
​ |
​ |
Ìý |
(968) |
​ |
(197) |
Ìý |
(23) |
​ |
(1,188) |
​ |
Earnings (loss) before income taxes |
​ |
Ìý |
949 |
​ |
(157) |
Ìý |
(3) |
​ |
789 |
​ |
Income tax (expense) benefit (note 3) |
​ |
Ìý |
(74) |
​ |
37 |
Ìý |
(8) |
​ |
(45) |
​ |
Net earnings (loss) |
​ |
Ìý |
875 |
​ |
(120) |
Ìý |
(11) |
​ |
744 |
​ |
Less net earnings (loss) attributable to the noncontrolling interests |
​ |
Ìý |
276 |
​ |
16 |
Ìý |
— |
​ |
292 |
​ |
Less net earnings (loss) attributable to the redeemable noncontrolling interests |
​ |
​ |
— |
​ |
54 |
​ |
— |
​ |
54 |
​ |
Net earnings (loss) attributable to Â鶹×îгöÆ· stockholders |
​ |
$ |
599 |
​ |
(190) |
Ìý |
(11) |
​ |
398 |
​ |
|
| Condensed Statement of Cash Flows |
STATEMENT OF CASH FLOWS INFORMATION
December 31, 2023
(unaudited)
​
|
|
|
|
|
|
|
|
|
|
|
|
|
​ |
​ |
​ |
Attributed (note 1) |
​ |
​ |
​ |
​ |
​ |
Â鶹×îгöÆ· |
​ |
​ |
​ |
Â鶹×îгöÆ· |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
SiriusXM |
​ |
Formula One |
​ |
Live |
​ |
Braves |
​ |
Consolidated |
​ |
​ |
​ |
Group |
​ |
Group |
​ |
Group |
​ |
Group |
​ |
Â鶹×îгöÆ· |
​ |
|
​ |
​ |
amountsÌýinÌýmillions |
​ |
Cash flows from operating activities: |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Net earnings (loss) |
​ |
$ |
1,031 |
​ |
184 |
​ |
(142) |
Ìý |
(111) |
​ |
962 |
​ |
Adjustments to reconcile net earnings to net cash provided by operating activities: |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
. |
​ |
​ |
​ |
Depreciation and amortization |
​ |
Ìý |
624 |
​ |
369 |
​ |
— |
Ìý |
37 |
​ |
1,030 |
​ |
Stock-based compensation |
​ |
Ìý |
203 |
​ |
20 |
​ |
2 |
Ìý |
7 |
​ |
232 |
​ |
Non-cash impairment and restructuring costs |
​ |
​ |
26 |
​ |
— |
​ |
— |
​ |
— |
​ |
26 |
​ |
Share of (earnings) loss of affiliates, net |
​ |
Ìý |
(108) |
​ |
4 |
​ |
(22) |
Ìý |
(12) |
​ |
(138) |
​ |
Unrealized (gains) losses on intergroup interests, net |
​ |
​ |
(68) |
​ |
(15) |
​ |
— |
​ |
83 |
​ |
— |
​ |
Realized and unrealized (gains) losses on financial instruments, net |
​ |
Ìý |
215 |
​ |
(42) |
​ |
153 |
Ìý |
(3) |
​ |
323 |
​ |
Noncash interest expense |
​ |
​ |
14 |
​ |
6 |
​ |
(1) |
​ |
1 |
​ |
20 |
​ |
Losses (gains) on dilution of investment in affiliate |
​ |
​ |
6 |
​ |
— |
​ |
(2) |
​ |
— |
​ |
4 |
​ |
Loss (gain) on early extinguishment of debt |
​ |
​ |
(30) |
​ |
(1) |
​ |
35 |
​ |
— |
​ |
4 |
​ |
Deferred income tax expense (benefit) |
​ |
Ìý |
36 |
​ |
18 |
​ |
(37) |
Ìý |
(3) |
​ |
14 |
​ |
Intergroup tax allocation |
​ |
​ |
177 |
​ |
(176) |
​ |
— |
​ |
(1) |
​ |
— |
​ |
Intergroup tax (payments) receipts |
​ |
​ |
(121) |
​ |
122 |
​ |
— |
​ |
(1) |
​ |
— |
​ |
Other charges (credits), net |
​ |
Ìý |
2 |
​ |
(2) |
​ |
1 |
Ìý |
3 |
​ |
4 |
​ |
Changes in operating assets and liabilities |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Current and other assets |
​ |
Ìý |
(45) |
​ |
46 |
​ |
(5) |
Ìý |
(34) |
​ |
(38) |
​ |
Payables and other liabilities |
​ |
Ìý |
(136) |
​ |
86 |
​ |
5 |
Ìý |
66 |
​ |
21 |
​ |
Net cash provided (used) by operating activities |
​ |
Ìý |
1,826 |
​ |
619 |
​ |
(13) |
Ìý |
32 |
​ |
2,464 |
​ |
Cash flows from investing activities: |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Cash proceeds from dispositions of investments |
​ |
​ |
— |
​ |
110 |
​ |
1 |
​ |
— |
​ |
111 |
​ |
Investments in equity method affiliates and debt and equity securities |
​ |
Ìý |
(50) |
​ |
(173) |
​ |
(3) |
Ìý |
— |
​ |
(226) |
​ |
Repayment of loans and other cash receipts from equity method affiliates and debt and equity securities |
​ |
​ |
1 |
​ |
— |
​ |
— |
​ |
— |
​ |
1 |
​ |
Capital expended for property and equipment, including internal-use software and website development |
​ |
Ìý |
(650) |
​ |
(426) |
​ |
— |
Ìý |
(35) |
​ |
(1,111) |
​ |
Other investing activities, net |
​ |
Ìý |
3 |
​ |
(21) |
​ |
3 |
Ìý |
— |
​ |
(15) |
​ |
Net cash provided (used) by investing activities |
​ |
Ìý |
(696) |
​ |
(510) |
​ |
1 |
Ìý |
(35) |
​ |
(1,240) |
​ |
Cash flows from financing activities: |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Borrowings of debt |
​ |
Ìý |
2,681 |
​ |
— |
​ |
1,135 |
Ìý |
30 |
​ |
3,846 |
​ |
Repayments of debt |
​ |
Ìý |
(3,782) |
​ |
(70) |
​ |
(918) |
Ìý |
(20) |
​ |
(4,790) |
​ |
Settlement of intergroup interests |
​ |
​ |
273 |
​ |
(273) |
​ |
— |
Ìý |
— |
​ |
— |
​ |
Subsidiary shares repurchased by subsidiary |
​ |
Ìý |
(274) |
​ |
— |
​ |
— |
Ìý |
— |
​ |
(274) |
​ |
Cash dividends paid by subsidiary |
​ |
​ |
(65) |
​ |
— |
​ |
— |
Ìý |
— |
​ |
(65) |
​ |
Taxes paid in lieu of shares issued for stock-based compensation |
​ |
Ìý |
(64) |
​ |
(9) |
​ |
— |
Ìý |
(1) |
​ |
(74) |
​ |
Atlanta Braves Holdings, Inc. Split-Off |
​ |
​ |
— |
​ |
— |
​ |
— |
Ìý |
(188) |
​ |
(188) |
​ |
Reclassification |
​ |
​ |
— |
​ |
(100) |
​ |
100 |
Ìý |
— |
​ |
— |
​ |
Other financing activities, net |
​ |
​ |
46 |
​ |
17 |
​ |
— |
​ |
9 |
​ |
72 |
​ |
Net cash provided (used) by financing activities |
​ |
Ìý |
(1,185) |
​ |
(435) |
​ |
317 |
Ìý |
(170) |
​ |
(1,473) |
​ |
Effect of foreign exchange rates on cash, cash equivalents and restricted cash |
​ |
​ |
— |
​ |
1 |
​ |
— |
Ìý |
— |
​ |
1 |
​ |
Net increase (decrease) in cash, cash equivalents and restricted cash |
​ |
Ìý |
(55) |
​ |
(325) |
​ |
305 |
Ìý |
(173) |
​ |
(248) |
​ |
Cash, cash equivalents and restricted cash at beginning of period |
​ |
Ìý |
370 |
​ |
1,733 |
​ |
NA |
Ìý |
173 |
​ |
2,276 |
​ |
Cash, cash equivalents and restricted cash at end of period |
​ |
$ |
315 |
​ |
1,408 |
​ |
305 |
Ìý |
— |
​ |
2,028 |
​ |
​
STATEMENT OF CASH FLOWS INFORMATION
December 31, 2022
(unaudited)
​
|
|
|
|
|
|
|
|
|
|
|
​ |
​ |
​ |
Attributed (note 1) |
​ |
​ |
​ |
​ |
​ |
Â鶹×îгöÆ· |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
SiriusXM |
​ |
Formula One |
​ |
Braves |
​ |
Consolidated |
​ |
​ |
​ |
Group |
​ |
Group |
​ |
Group |
​ |
Â鶹×îгöÆ· |
​ |
|
​ |
​ |
amountsÌýinÌýmillions |
​ |
​ |
​ |
Cash flows from operating activities: |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Net earnings (loss) |
​ |
$ |
1,502 |
​ |
562 |
Ìý |
(35) |
​ |
2,029 |
​ |
Adjustments to reconcile net earnings to net cash provided by operating activities: |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Depreciation and amortization |
​ |
Ìý |
611 |
​ |
362 |
Ìý |
71 |
​ |
1,044 |
​ |
Stock-based compensation |
​ |
Ìý |
209 |
​ |
16 |
Ìý |
12 |
​ |
237 |
​ |
Non-cash impairment and restructuring costs |
​ |
​ |
65 |
​ |
— |
​ |
5 |
​ |
70 |
​ |
Share of (earnings) loss of affiliates, net |
​ |
Ìý |
(67) |
​ |
— |
Ìý |
(32) |
​ |
(99) |
​ |
Unrealized (gains) losses on intergroup interests, net |
​ |
​ |
19 |
​ |
(54) |
​ |
35 |
​ |
— |
​ |
Realized and unrealized (gains) losses on financial instruments, net |
​ |
Ìý |
(471) |
​ |
(115) |
Ìý |
(13) |
​ |
(599) |
​ |
Noncash interest expense |
​ |
​ |
19 |
​ |
5 |
​ |
2 |
​ |
26 |
​ |
Losses (gains) on dilution of investment in affiliate |
​ |
​ |
(10) |
​ |
— |
​ |
— |
​ |
(10) |
​ |
Loss (gain) on early extinguishment of debt |
​ |
​ |
(21) |
​ |
(14) |
​ |
— |
​ |
(35) |
​ |
Deferred income tax expense (benefit) |
​ |
Ìý |
329 |
​ |
(306) |
Ìý |
(10) |
​ |
13 |
​ |
Intergroup tax allocation |
​ |
​ |
91 |
​ |
(109) |
​ |
18 |
​ |
— |
​ |
Intergroup tax (payments) receipts |
​ |
​ |
(80) |
​ |
72 |
​ |
8 |
​ |
— |
​ |
Other charges (credits), net |
​ |
Ìý |
10 |
​ |
(1) |
Ìý |
1 |
​ |
10 |
​ |
Changes in operating assets and liabilities |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Current and other assets |
​ |
Ìý |
80 |
​ |
(87) |
Ìý |
(10) |
​ |
(17) |
​ |
Payables and other liabilities |
​ |
Ìý |
(327) |
​ |
203 |
Ìý |
1 |
​ |
(123) |
​ |
Net cash provided (used) by operating activities |
​ |
Ìý |
1,959 |
​ |
534 |
Ìý |
53 |
​ |
2,546 |
​ |
Cash flows from investing activities: |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Subsidiary initial public offering proceeds returned from (invested in) trust account |
​ |
​ |
— |
​ |
579 |
​ |
— |
​ |
579 |
​ |
Cash proceeds from dispositions of investments |
​ |
Ìý |
66 |
​ |
53 |
​ |
48 |
​ |
167 |
​ |
Cash (paid) received for acquisitions, net of cash acquired |
​ |
​ |
(136) |
​ |
— |
​ |
— |
​ |
(136) |
​ |
Investments in equity method affiliates and debt and equity securities |
​ |
​ |
(1) |
​ |
(52) |
Ìý |
(5) |
​ |
(58) |
​ |
Return of investment in equity method affiliates |
​ |
​ |
1 |
​ |
9 |
​ |
28 |
​ |
38 |
​ |
Repayment of loans and other cash receipts from equity method affiliates and debt and equity securities |
​ |
​ |
2 |
​ |
— |
​ |
— |
​ |
2 |
​ |
Capital expended for property and equipment, including internal-use software and website development |
​ |
Ìý |
(426) |
​ |
(291) |
Ìý |
(18) |
​ |
(735) |
​ |
Other investing activities, net |
​ |
Ìý |
1 |
​ |
96 |
Ìý |
— |
​ |
97 |
​ |
Net cash provided (used) by investing activities |
​ |
Ìý |
(493) |
​ |
394 |
Ìý |
53 |
​ |
(46) |
​ |
Cash flows from financing activities: |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Borrowings of debt |
​ |
Ìý |
3,150 |
​ |
2,884 |
Ìý |
155 |
​ |
6,189 |
​ |
Repayments of debt |
​ |
Ìý |
(3,553) |
​ |
(3,564) |
Ìý |
(309) |
​ |
(7,426) |
​ |
Repayment of initial public offering proceeds to subsidiary shareholders |
​ |
​ |
— |
​ |
(579) |
​ |
— |
​ |
(579) |
​ |
Settlement of intergroup interests |
​ |
​ |
78 |
​ |
(64) |
Ìý |
(14) |
​ |
— |
​ |
Â鶹×îгöÆ· stock repurchases |
​ |
​ |
(358) |
​ |
(37) |
Ìý |
— |
​ |
(395) |
​ |
Subsidiary shares repurchased by subsidiary |
​ |
​ |
(647) |
​ |
— |
Ìý |
— |
​ |
(647) |
​ |
Cash dividends paid by subsidiary |
​ |
​ |
(249) |
​ |
— |
Ìý |
— |
​ |
(249) |
​ |
Taxes paid in lieu of shares issued for stock-based compensation |
​ |
Ìý |
(147) |
​ |
24 |
Ìý |
— |
​ |
(123) |
​ |
Other financing activities, net |
​ |
​ |
24 |
​ |
67 |
​ |
(9) |
​ |
82 |
​ |
Net cash provided (used) by financing activities |
​ |
Ìý |
(1,702) |
​ |
(1,269) |
Ìý |
(177) |
​ |
(3,148) |
​ |
Net increase (decrease) in cash, cash equivalents and restricted cash |
​ |
Ìý |
(236) |
​ |
(341) |
Ìý |
(71) |
​ |
(648) |
​ |
Cash, cash equivalents and restricted cash at beginning of period |
​ |
Ìý |
606 |
​ |
2,074 |
Ìý |
244 |
​ |
2,924 |
​ |
Cash, cash equivalents and restricted cash at end of period |
​ |
$ |
370 |
​ |
1,733 |
Ìý |
173 |
​ |
2,276 |
​ |
​
STATEMENT OF CASH FLOWS INFORMATION
December 31, 2021
(unaudited)
​
|
|
|
|
|
|
|
|
|
|
|
​ |
​ |
​ |
Attributed (note 1) |
​ |
​ |
​ |
​ |
​ |
Â鶹×îгöÆ· |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
SiriusXM |
​ |
Formula One |
​ |
Braves |
​ |
Consolidated |
​ |
​ |
​ |
Group |
​ |
Group |
​ |
Group |
​ |
Â鶹×îгöÆ· |
​ |
|
​ |
​ |
amountsÌýinÌýmillions |
​ |
Cash flows from operating activities: |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Net earnings (loss) |
​ |
$ |
875 |
​ |
(120) |
Ìý |
(11) |
​ |
744 |
​ |
Adjustments to reconcile net earnings to net cash provided by operating activities: |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Depreciation and amortization |
​ |
Ìý |
603 |
​ |
397 |
Ìý |
72 |
​ |
1,072 |
​ |
Stock-based compensation |
​ |
Ìý |
215 |
​ |
29 |
Ìý |
12 |
​ |
256 |
​ |
Non-cash impairment and restructuring costs |
​ |
​ |
24 |
​ |
— |
​ |
— |
​ |
24 |
​ |
Share of (earnings) loss of affiliates, net |
​ |
Ìý |
253 |
​ |
(23) |
Ìý |
(30) |
​ |
200 |
​ |
Unrealized (gains) losses on intergroup interests, net |
​ |
​ |
(121) |
​ |
90 |
​ |
31 |
​ |
— |
​ |
Realized and unrealized (gains) losses on financial instruments, net |
​ |
Ìý |
433 |
​ |
21 |
Ìý |
(3) |
​ |
451 |
​ |
Noncash interest expense |
​ |
​ |
15 |
​ |
1 |
​ |
— |
​ |
16 |
​ |
Losses (gains) on dilution of investment in affiliate |
​ |
​ |
(152) |
​ |
— |
​ |
— |
​ |
(152) |
​ |
Loss (gain) on early extinguishment of debt |
​ |
​ |
83 |
​ |
(3) |
​ |
— |
​ |
80 |
​ |
Deferred income tax expense (benefit) |
​ |
Ìý |
(12) |
​ |
(41) |
Ìý |
12 |
​ |
(41) |
​ |
Intergroup tax allocation |
​ |
​ |
9 |
​ |
(5) |
​ |
(4) |
​ |
— |
​ |
Intergroup tax (payments) receipts |
​ |
​ |
(2) |
​ |
(5) |
​ |
7 |
​ |
— |
​ |
Other charges (credits), net |
​ |
Ìý |
(15) |
​ |
(3) |
Ìý |
20 |
​ |
2 |
​ |
Changes in operating assets and liabilities |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Current and other assets |
​ |
Ìý |
(59) |
​ |
(2) |
Ìý |
(43) |
​ |
(104) |
​ |
Payables and other liabilities |
​ |
Ìý |
(255) |
​ |
145 |
Ìý |
(1) |
​ |
(111) |
​ |
Net cash provided (used) by operating activities |
​ |
Ìý |
1,894 |
​ |
481 |
Ìý |
62 |
​ |
2,437 |
​ |
Cash flows from investing activities: |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Subsidiary initial public offering proceeds returned from (invested in) trust account |
​ |
​ |
— |
​ |
(575) |
​ |
— |
​ |
(575) |
​ |
Cash proceeds from dispositions of investments |
​ |
Ìý |
177 |
​ |
204 |
​ |
2 |
​ |
383 |
​ |
Cash (paid) received for acquisitions, net of cash acquired |
​ |
​ |
(14) |
​ |
— |
​ |
— |
​ |
(14) |
​ |
Investments in equity method affiliates and debt and equity securities |
​ |
​ |
(73) |
​ |
(179) |
Ìý |
— |
​ |
(252) |
​ |
Return of investment in equity method affiliates |
​ |
​ |
1 |
​ |
39 |
​ |
— |
​ |
40 |
​ |
Repayment of loans and other cash receipts from equity method affiliates and debt and equity securities |
​ |
​ |
12 |
​ |
— |
​ |
— |
​ |
12 |
​ |
Capital expended for property and equipment, including internal-use software and website development |
​ |
Ìý |
(388) |
​ |
(17) |
Ìý |
(35) |
​ |
(440) |
​ |
Proceeds from insurance recoveries |
​ |
​ |
225 |
​ |
— |
​ |
— |
​ |
225 |
​ |
Other investing activities, net |
​ |
Ìý |
(4) |
​ |
(72) |
Ìý |
8 |
​ |
(68) |
​ |
Net cash provided (used) by investing activities |
​ |
Ìý |
(64) |
​ |
(600) |
Ìý |
(25) |
​ |
(689) |
​ |
Cash flows from financing activities: |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Borrowings of debt |
​ |
Ìý |
6,294 |
​ |
— |
Ìý |
117 |
​ |
6,411 |
​ |
Repayments of debt |
​ |
Ìý |
(5,872) |
​ |
(322) |
Ìý |
(93) |
​ |
(6,287) |
​ |
Â鶹×îгöÆ· stock repurchases |
​ |
​ |
(500) |
​ |
(55) |
​ |
— |
​ |
(555) |
​ |
Subsidiary shares repurchased by subsidiary |
​ |
Ìý |
(1,523) |
​ |
— |
Ìý |
— |
​ |
(1,523) |
​ |
Proceeds from initial public offering of subsidiary |
​ |
​ |
— |
​ |
575 |
​ |
— |
​ |
575 |
​ |
Cash dividends paid by subsidiary |
​ |
​ |
(58) |
​ |
— |
​ |
— |
​ |
(58) |
​ |
Taxes paid in lieu of shares issued for stock-based compensation |
​ |
Ìý |
(106) |
​ |
(48) |
Ìý |
— |
​ |
(154) |
​ |
Settlement of intergroup call spread |
​ |
​ |
(384) |
​ |
384 |
​ |
— |
​ |
— |
​ |
Other financing activities, net |
​ |
​ |
(83) |
​ |
(22) |
​ |
(2) |
​ |
(107) |
​ |
Net cash provided (used) by financing activities |
​ |
Ìý |
(2,232) |
​ |
512 |
Ìý |
22 |
​ |
(1,698) |
​ |
Effect of foreign exchange rates on cash, cash equivalents and restricted cash |
​ |
​ |
— |
​ |
(3) |
​ |
— |
​ |
(3) |
​ |
Net increase (decrease) in cash, cash equivalents and restricted cash |
​ |
Ìý |
(402) |
​ |
390 |
Ìý |
59 |
​ |
47 |
​ |
Cash, cash equivalents and restricted cash at beginning of period |
​ |
Ìý |
1,008 |
​ |
1,684 |
Ìý |
185 |
​ |
2,877 |
​ |
Cash, cash equivalents and restricted cash at end of period |
​ |
$ |
606 |
​ |
2,074 |
Ìý |
244 |
​ |
2,924 |
​ |
​
|