Financial Information for Tracking Stock Groups (Tables)
|
6 Months Ended |
Jun. 30, 2025 |
|---|
| Financial Information for Tracking Stock Groups |
Ìý
|
| Condensed Balance Sheets |
BALANCE SHEET INFORMATION
June 30, 2025
(unaudited)
|
|
|
|
|
|
|
|
|
|
|
​ |
​ |
Attributed (note 1) |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Â鶹×îгöÆ· |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Formula One |
​ |
Live |
​ |
Inter-Group |
​ |
Consolidated |
​ |
​ |
ÌýÌýÌýÌý |
Group |
​ |
Group |
​ |
Eliminations |
​ |
Â鶹×îгöÆ· |
ÌýÌýÌýÌý |
|
​ |
​ |
amountsÌýinÌýmillions |
​ |
Assets |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Current assets: |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Cash and cash equivalents |
​ |
$ |
3,140 |
​ |
308 |
​ |
— |
​ |
3,448 |
Ìý |
Trade and other receivables, net |
​ |
Ìý |
143 |
​ |
1 |
​ |
— |
​ |
144 |
Ìý |
Other current assets |
​ |
Ìý |
510 |
​ |
— |
​ |
— |
​ |
510 |
Ìý |
Total current assets |
​ |
Ìý |
3,793 |
​ |
309 |
​ |
— |
​ |
4,102 |
Ìý |
Investments in affiliates, accounted for using the equity method (noteÌý1) |
​ |
Ìý |
33 |
​ |
589 |
​ |
— |
​ |
622 |
Ìý |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Property and equipment, at cost |
​ |
Ìý |
1,012 |
​ |
— |
​ |
— |
​ |
1,012 |
Ìý |
Accumulated depreciation |
​ |
Ìý |
(184) |
​ |
— |
​ |
— |
​ |
(184) |
Ìý |
​ |
​ |
Ìý |
828 |
​ |
— |
​ |
— |
​ |
828 |
Ìý |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Goodwill |
​ |
Ìý |
4,135 |
​ |
— |
​ |
— |
​ |
4,135 |
Ìý |
Intangible assets subject to amortization, net |
​ |
Ìý |
2,570 |
​ |
— |
​ |
— |
​ |
2,570 |
Ìý |
Deferred income tax assets |
​ |
​ |
569 |
​ |
256 |
​ |
(35) |
​ |
790 |
​ |
Other assets |
​ |
Ìý |
557 |
​ |
217 |
​ |
— |
​ |
774 |
Ìý |
Total assets |
​ |
$ |
12,485 |
​ |
1,371 |
​ |
(35) |
​ |
13,821 |
Ìý |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Liabilities and Equity |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Current liabilities: |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Accounts payable and accrued liabilities |
​ |
$ |
469 |
​ |
1 |
​ |
— |
​ |
470 |
​ |
Current portion of debt |
​ |
​ |
34 |
​ |
1,769 |
​ |
— |
​ |
1,803 |
​ |
Deferred revenue |
​ |
Ìý |
780 |
​ |
— |
​ |
— |
​ |
780 |
​ |
Other current liabilities |
​ |
Ìý |
50 |
​ |
— |
​ |
— |
​ |
50 |
​ |
Total current liabilities |
​ |
Ìý |
1,333 |
​ |
1,770 |
​ |
— |
​ |
3,103 |
​ |
Long-term debt (note 1) |
​ |
Ìý |
2,996 |
​ |
— |
​ |
— |
​ |
2,996 |
​ |
Other liabilities |
​ |
Ìý |
304 |
​ |
90 |
​ |
(35) |
​ |
359 |
​ |
Total liabilities |
​ |
Ìý |
4,633 |
​ |
1,860 |
​ |
(35) |
​ |
6,458 |
​ |
Equity / Attributed net assets |
​ |
Ìý |
7,852 |
​ |
(511) |
​ |
— |
​ |
7,341 |
​ |
Noncontrolling interests in equity of subsidiaries |
​ |
Ìý |
— |
​ |
22 |
​ |
— |
​ |
22 |
​ |
Total liabilities and equity |
​ |
$ |
12,485 |
​ |
1,371 |
​ |
(35) |
​ |
13,821 |
​ |
|
| Condensed Statement of Operations |
STATEMENT OF OPERATIONS INFORMATION
Three months ended June 30, 2025
(unaudited)
​
|
|
|
|
|
|
|
|
|
​ |
​ |
Attributed (note 1) |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Â鶹×îгöÆ· |
​ |
​ |
​ |
​ |
​ |
Formula One |
​ |
Live |
​ |
Consolidated |
​ |
​ |
​ |
Group |
​ |
Group |
​ |
Â鶹×îгöÆ· |
​ |
|
​ |
​ |
amounts in millions |
​ |
Revenue: |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Formula 1 revenue |
​ |
$ |
1,203 |
​ |
— |
​ |
1,203 |
​ |
Other revenue |
​ |
Ìý |
138 |
​ |
— |
​ |
138 |
​ |
Total revenue |
​ |
Ìý |
1,341 |
​ |
— |
​ |
1,341 |
​ |
Operating costs and expenses: |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Cost of Formula 1 revenue (exclusive of depreciation shown separately below) |
​ |
​ |
779 |
​ |
— |
​ |
779 |
​ |
Other cost of sales |
​ |
​ |
88 |
​ |
— |
​ |
88 |
​ |
Selling, general and administrative, including stock-based compensation (note 2) |
​ |
Ìý |
111 |
​ |
7 |
​ |
118 |
​ |
Acquisition costs |
​ |
​ |
3 |
​ |
— |
​ |
3 |
​ |
Depreciation and amortization |
​ |
Ìý |
80 |
​ |
— |
​ |
80 |
​ |
​ |
​ |
Ìý |
1,061 |
​ |
7 |
​ |
1,068 |
​ |
Operating income (loss) |
​ |
Ìý |
280 |
​ |
(7) |
​ |
273 |
​ |
Other income (expense): |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Interest expense |
​ |
Ìý |
(49) |
​ |
(8) |
​ |
(57) |
​ |
Share of earnings (losses) of affiliates, net |
​ |
Ìý |
(2) |
​ |
73 |
​ |
71 |
​ |
Realized and unrealized gains (losses) on financial instruments, net |
​ |
Ìý |
160 |
​ |
(289) |
​ |
(129) |
​ |
Other, net |
​ |
Ìý |
66 |
​ |
4 |
​ |
70 |
​ |
​ |
​ |
Ìý |
175 |
​ |
(220) |
​ |
(45) |
​ |
Earnings (loss) before income taxes |
​ |
Ìý |
455 |
​ |
(227) |
​ |
228 |
​ |
Income tax (expense) benefit |
​ |
Ìý |
(73) |
​ |
49 |
​ |
(24) |
​ |
Net earnings (loss) |
​ |
​ |
382 |
​ |
(178) |
​ |
204 |
​ |
Less net earnings (loss) attributable to the noncontrolling interests |
​ |
Ìý |
— |
​ |
— |
​ |
— |
​ |
Net earnings (loss) attributable to Â鶹×îгöÆ· stockholders |
​ |
$ |
382 |
​ |
(178) |
​ |
204 |
​ |
​
STATEMENT OF OPERATIONS INFORMATION
Six months ended June 30, 2025
(unaudited)
​
|
|
|
|
|
|
|
|
|
​ |
​ |
Attributed (note 1) |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Â鶹×îгöÆ· |
​ |
​ |
​ |
​ |
​ |
Formula One |
​ |
Live |
​ |
Consolidated |
​ |
​ |
​ |
Group |
​ |
Group |
​ |
Â鶹×îгöÆ· |
​ |
|
​ |
​ |
amounts in millions |
​ |
Revenue: |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Formula 1 revenue |
​ |
$ |
1,603 |
​ |
— |
​ |
1,603 |
​ |
Other revenue |
​ |
Ìý |
185 |
​ |
— |
Ìý |
185 |
​ |
Total revenue |
​ |
Ìý |
1,788 |
​ |
— |
Ìý |
1,788 |
​ |
Operating costs and expenses: |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Cost of Formula 1 revenue (exclusive of depreciation shown separately below) |
​ |
​ |
1,065 |
​ |
— |
​ |
1,065 |
​ |
Other cost of sales |
​ |
​ |
127 |
​ |
— |
​ |
127 |
​ |
Selling, general and administrative, including stock-based compensation (note 2) |
​ |
Ìý |
212 |
​ |
11 |
Ìý |
223 |
​ |
Acquisition costs |
​ |
​ |
14 |
​ |
— |
Ìý |
14 |
​ |
Depreciation and amortization |
​ |
Ìý |
157 |
​ |
— |
Ìý |
157 |
​ |
​ |
​ |
Ìý |
1,575 |
​ |
11 |
Ìý |
1,586 |
​ |
Operating income (loss) |
​ |
Ìý |
213 |
​ |
(11) |
Ìý |
202 |
​ |
Other income (expense): |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Interest expense |
​ |
Ìý |
(97) |
​ |
(15) |
Ìý |
(112) |
​ |
Share of earnings (losses) of affiliates, net |
​ |
Ìý |
(5) |
​ |
77 |
Ìý |
72 |
​ |
Realized and unrealized gains (losses) on financial instruments, net |
​ |
Ìý |
242 |
​ |
(306) |
Ìý |
(64) |
​ |
Other, net |
​ |
Ìý |
100 |
​ |
6 |
Ìý |
106 |
​ |
​ |
​ |
Ìý |
240 |
​ |
(238) |
Ìý |
2 |
​ |
Earnings (loss) from income taxes |
​ |
Ìý |
453 |
​ |
(249) |
Ìý |
204 |
​ |
Income tax (expense) benefit |
​ |
Ìý |
(49) |
​ |
54 |
Ìý |
5 |
​ |
Net earnings (loss) |
​ |
​ |
404 |
​ |
(195) |
​ |
209 |
​ |
Less net earnings (loss) attributable to the noncontrolling interests |
​ |
Ìý |
— |
​ |
— |
Ìý |
— |
​ |
Net earnings (loss) attributable to Â鶹×îгöÆ· stockholders |
​ |
$ |
404 |
​ |
(195) |
Ìý |
209 |
​ |
​
​
STATEMENT OF OPERATIONS INFORMATION
Three months ended June 30, 2024
(unaudited)
​
|
|
|
|
|
|
|
|
|
|
|
​ |
​ |
Attributed (note 1) |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Â鶹×îгöÆ· |
​ |
Â鶹×îгöÆ· |
​ |
​ |
​ |
​ |
​ |
Formula One |
​ |
Live |
​ |
SiriusXM |
​ |
Consolidated |
​ |
​ |
​ |
Group |
​ |
Group |
​ |
Group |
​ |
Â鶹×îгöÆ· |
​ |
|
​ |
​ |
amounts in millions |
​ |
Revenue: |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Formula 1 revenue |
​ |
$ |
853 |
​ |
— |
​ |
— |
​ |
853 |
​ |
Other revenue |
​ |
Ìý |
135 |
​ |
— |
​ |
— |
​ |
135 |
​ |
Total revenue |
​ |
Ìý |
988 |
​ |
— |
​ |
— |
​ |
988 |
​ |
Operating costs and expenses: |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Cost of Formula 1 revenue (exclusive of depreciation shown separately below) |
​ |
​ |
639 |
​ |
— |
​ |
— |
​ |
639 |
​ |
Other cost of sales |
​ |
​ |
94 |
​ |
— |
​ |
— |
​ |
94 |
​ |
Selling, general and administrative, including stock-based compensation (note 2) |
​ |
Ìý |
96 |
​ |
2 |
​ |
— |
​ |
98 |
​ |
Acquisition costs |
​ |
​ |
11 |
​ |
— |
​ |
— |
​ |
11 |
​ |
Depreciation and amortization |
​ |
Ìý |
89 |
​ |
— |
​ |
— |
​ |
89 |
​ |
​ |
​ |
Ìý |
929 |
​ |
2 |
​ |
— |
​ |
931 |
​ |
Operating income (loss) |
​ |
Ìý |
59 |
​ |
(2) |
​ |
— |
​ |
57 |
​ |
Other income (expense): |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Interest expense |
​ |
Ìý |
(53) |
​ |
(7) |
​ |
— |
​ |
(60) |
​ |
Share of earnings (losses) of affiliates, net |
​ |
Ìý |
(2) |
​ |
85 |
​ |
— |
​ |
83 |
​ |
Realized and unrealized gains (losses) on financial instruments, net |
​ |
Ìý |
(1) |
​ |
88 |
​ |
— |
​ |
87 |
​ |
Other, net |
​ |
Ìý |
20 |
​ |
6 |
​ |
— |
​ |
26 |
​ |
​ |
​ |
Ìý |
(36) |
​ |
172 |
​ |
— |
​ |
136 |
​ |
Earnings (loss) from continuing operations before income taxes |
​ |
Ìý |
23 |
​ |
170 |
​ |
— |
​ |
193 |
​ |
Income tax (expense) benefit |
​ |
Ìý |
1 |
​ |
(36) |
​ |
— |
​ |
(35) |
​ |
Net earnings (loss) from continuing operations |
​ |
Ìý |
24 |
​ |
134 |
​ |
— |
​ |
158 |
​ |
Net earnings (loss) from discontinued operations |
​ |
​ |
— |
​ |
— |
​ |
349 |
​ |
349 |
​ |
Net earnings (loss) |
​ |
​ |
24 |
​ |
134 |
​ |
349 |
​ |
507 |
​ |
Less net earnings (loss) attributable to the noncontrolling interests |
​ |
Ìý |
— |
​ |
— |
​ |
50 |
​ |
50 |
​ |
Net earnings (loss) attributable to Â鶹×îгöÆ· stockholders |
​ |
$ |
24 |
​ |
134 |
​ |
299 |
​ |
457 |
​ |
​
STATEMENT OF OPERATIONS INFORMATION
Six months ended June 30, 2024
(unaudited)
​
|
|
|
|
|
|
|
|
|
|
|
​ |
​ |
​ |
Attributed (note 1) |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Â鶹×îгöÆ· |
​ |
Â鶹×îгöÆ· |
​ |
​ |
​ |
​ |
​ |
Formula One |
​ |
Live |
​ |
SiriusXM |
​ |
Consolidated |
​ |
​ |
​ |
Group |
​ |
Group |
​ |
Group |
​ |
Â鶹×îгöÆ· |
​ |
|
​ |
​ |
amounts in millions |
​ |
Revenue: |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Formula 1 revenue |
​ |
$ |
1,403 |
​ |
— |
​ |
— |
​ |
1,403 |
​ |
Other revenue |
​ |
Ìý |
172 |
​ |
— |
​ |
— |
​ |
172 |
​ |
Total revenue |
​ |
Ìý |
1,575 |
​ |
— |
​ |
— |
​ |
1,575 |
​ |
Operating costs and expenses: |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Cost of Formula 1 revenue (exclusive of depreciation shown separately below) |
​ |
​ |
918 |
​ |
— |
​ |
— |
​ |
918 |
​ |
Other cost of sales |
​ |
​ |
120 |
​ |
— |
​ |
— |
​ |
120 |
​ |
Selling, general and administrative, including stock-based compensation (note 2) |
​ |
Ìý |
188 |
​ |
4 |
​ |
— |
​ |
192 |
​ |
Acquisition costs |
​ |
​ |
20 |
​ |
— |
​ |
— |
​ |
20 |
​ |
Depreciation and amortization |
​ |
Ìý |
175 |
​ |
— |
​ |
— |
​ |
175 |
​ |
​ |
​ |
Ìý |
1,421 |
​ |
4 |
​ |
— |
​ |
1,425 |
​ |
Operating income (loss) |
​ |
Ìý |
154 |
​ |
(4) |
​ |
— |
​ |
150 |
​ |
Other income (expense): |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Interest expense |
​ |
Ìý |
(108) |
​ |
(14) |
​ |
— |
​ |
(122) |
​ |
Share of earnings (losses) of affiliates, net |
​ |
Ìý |
(5) |
​ |
64 |
​ |
— |
​ |
59 |
​ |
Realized and unrealized gains (losses) on financial instruments, net |
​ |
Ìý |
47 |
​ |
19 |
​ |
— |
​ |
66 |
​ |
Other, net |
​ |
Ìý |
35 |
​ |
12 |
​ |
— |
​ |
47 |
​ |
​ |
​ |
Ìý |
(31) |
​ |
81 |
​ |
— |
​ |
50 |
​ |
Earnings (loss) from continuing operations before income taxes |
​ |
Ìý |
123 |
​ |
77 |
​ |
— |
​ |
200 |
​ |
Income tax (expense) benefit |
​ |
Ìý |
(22) |
​ |
(16) |
​ |
— |
​ |
(38) |
​ |
Net earnings (loss) from continuing operations |
​ |
Ìý |
101 |
​ |
61 |
​ |
— |
​ |
162 |
​ |
Net earnings (loss) from discontinued operations |
​ |
​ |
— |
​ |
— |
​ |
590 |
​ |
590 |
​ |
Net earnings (loss) |
​ |
​ |
101 |
​ |
61 |
​ |
590 |
​ |
752 |
​ |
Less net earnings (loss) attributable to the noncontrolling interests |
​ |
Ìý |
— |
​ |
— |
​ |
92 |
​ |
92 |
​ |
Net earnings (loss) attributable to Â鶹×îгöÆ· stockholders |
​ |
$ |
101 |
​ |
61 |
​ |
498 |
​ |
660 |
​ |
​
|
| Condensed Statement of Cash Flows |
​
STATEMENT OF CASH FLOWS INFORMATION
Six months ended June 30, 2025
(unaudited)
​
|
|
|
|
|
|
|
|
|
​ |
​ |
Attributed (note 1) |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Â鶹×îгöÆ· |
​ |
​ |
​ |
​ |
​ |
Formula One |
​ |
Live |
​ |
Consolidated |
​ |
​ |
​ |
Group |
​ |
Group |
​ |
Â鶹×îгöÆ· |
​ |
|
​ |
​ |
amountsÌýinÌýmillions |
​ |
Cash flows from operating activities: |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Net earnings (loss) |
​ |
$ |
404 |
​ |
(195) |
​ |
209 |
​ |
Adjustments to reconcile net earnings (loss) to net cash provided by operating activities: |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Depreciation and amortization |
​ |
Ìý |
157 |
​ |
— |
​ |
157 |
​ |
Stock-based compensation |
​ |
Ìý |
8 |
​ |
2 |
​ |
10 |
​ |
Share of (earnings) loss of affiliates, net |
​ |
Ìý |
5 |
​ |
(77) |
​ |
(72) |
​ |
Realized and unrealized (gains) losses on financial instruments, net |
​ |
Ìý |
(242) |
​ |
306 |
​ |
64 |
​ |
Deferred income tax expense (benefit) |
​ |
Ìý |
9 |
​ |
(51) |
​ |
(42) |
​ |
Intergroup tax allocation |
​ |
​ |
3 |
​ |
(3) |
​ |
— |
​ |
Other, net |
​ |
Ìý |
(33) |
​ |
1 |
​ |
(32) |
​ |
Changes in operating assets and liabilities |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Current and other assets |
​ |
Ìý |
(147) |
​ |
— |
​ |
(147) |
​ |
Payables and other liabilities |
​ |
Ìý |
464 |
​ |
1 |
​ |
465 |
​ |
Net cash provided (used) by operating activities |
​ |
Ìý |
628 |
​ |
(16) |
​ |
612 |
​ |
Cash flows from investing activities: |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Investments in equity method affiliates and debt and equity securities |
​ |
Ìý |
(16) |
​ |
(1) |
​ |
(17) |
​ |
Cash proceeds from dispositions |
​ |
​ |
26 |
​ |
— |
​ |
26 |
​ |
Cash (paid) received for acquisitions, net of cash acquired |
​ |
​ |
(131) |
​ |
— |
​ |
(131) |
​ |
Capital expended for property and equipment, including internal-use software and website development |
​ |
Ìý |
(55) |
​ |
— |
​ |
(55) |
​ |
Cash proceeds from foreign currency forward contracts |
​ |
​ |
71 |
​ |
— |
​ |
71 |
​ |
Other investing activities, net |
​ |
Ìý |
(14) |
​ |
— |
​ |
(14) |
​ |
Net cash provided (used) by investing activities |
​ |
Ìý |
(119) |
​ |
(1) |
​ |
(120) |
​ |
Cash flows from financing activities: |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Repayments of debt |
​ |
Ìý |
(11) |
​ |
— |
​ |
(11) |
​ |
Other financing activities, net |
​ |
​ |
19 |
​ |
— |
​ |
19 |
​ |
Net cash provided (used) by financing activities |
​ |
Ìý |
8 |
​ |
— |
​ |
8 |
​ |
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash |
​ |
​ |
9 |
​ |
— |
​ |
9 |
​ |
Net increase (decrease) in cash, cash equivalents and restricted cash |
​ |
Ìý |
526 |
​ |
(17) |
​ |
509 |
​ |
Cash, cash equivalents and restricted cash at beginning of period |
​ |
Ìý |
2,638 |
​ |
325 |
​ |
2,963 |
​ |
Cash, cash equivalents and restricted cash at end of period |
​ |
$ |
3,164 |
​ |
308 |
​ |
3,472 |
​ |
​
STATEMENT OF CASH FLOWS INFORMATION
Six months ended June 30, 2024
(unaudited)
​
|
|
|
|
|
|
|
|
|
|
|
​ |
​ |
Attributed (note 1) |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Â鶹×îгöÆ· |
​ |
Â鶹×îгöÆ· |
​ |
​ |
​ |
​ |
​ |
Formula One |
​ |
Live |
​ |
SiriusXM |
​ |
Consolidated |
​ |
​ |
​ |
Group |
​ |
Group |
​ |
Group |
​ |
Â鶹×îгöÆ· |
​ |
|
​ |
​ |
amountsÌýinÌýmillions |
​ |
Cash flows from operating activities: |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Net earnings (loss) |
​ |
$ |
101 |
​ |
61 |
​ |
590 |
​ |
752 |
​ |
Adjustments to reconcile net earnings (loss) to net cash provided by operating activities: |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Net (earnings) loss from discontinued operations |
​ |
​ |
— |
​ |
— |
​ |
(590) |
​ |
(590) |
​ |
Depreciation and amortization |
​ |
Ìý |
175 |
​ |
— |
​ |
— |
​ |
175 |
​ |
Stock-based compensation |
​ |
Ìý |
18 |
​ |
2 |
​ |
— |
​ |
20 |
​ |
Share of (earnings) loss of affiliates, net |
​ |
Ìý |
5 |
​ |
(64) |
​ |
— |
​ |
(59) |
​ |
Realized and unrealized (gains) losses on financial instruments, net |
​ |
Ìý |
(47) |
​ |
(19) |
​ |
— |
​ |
(66) |
​ |
Deferred income tax expense (benefit) |
​ |
Ìý |
2 |
​ |
13 |
​ |
— |
​ |
15 |
​ |
Intergroup tax allocation |
​ |
​ |
(62) |
​ |
3 |
​ |
— |
​ |
(59) |
​ |
Intergroup tax (payments) receipts |
​ |
​ |
80 |
​ |
3 |
​ |
— |
​ |
83 |
​ |
Other, net |
​ |
Ìý |
5 |
​ |
(4) |
​ |
— |
​ |
1 |
​ |
Changes in operating assets and liabilities |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Current and other assets |
​ |
Ìý |
(79) |
​ |
2 |
​ |
— |
​ |
(77) |
​ |
Payables and other liabilities |
​ |
Ìý |
203 |
​ |
(4) |
​ |
— |
​ |
199 |
​ |
Net cash provided (used) by operating activities |
​ |
Ìý |
401 |
​ |
(7) |
​ |
— |
​ |
394 |
​ |
Cash flows from investing activities: |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Investments in equity method affiliates and debt and equity securities |
​ |
Ìý |
(1) |
​ |
— |
​ |
— |
​ |
(1) |
​ |
Cash proceeds from dispositions |
​ |
​ |
— |
​ |
107 |
​ |
— |
​ |
107 |
​ |
Cash (paid) received for acquisitions, net of cash acquired |
​ |
​ |
(205) |
​ |
— |
​ |
— |
​ |
(205) |
​ |
Capital expended for property and equipment, including internal-use software and website development |
​ |
Ìý |
(40) |
​ |
— |
​ |
— |
​ |
(40) |
​ |
Other investing activities, net |
​ |
Ìý |
(62) |
​ |
1 |
​ |
— |
​ |
(61) |
​ |
Net cash provided (used) by investing activities |
​ |
Ìý |
(308) |
​ |
108 |
​ |
— |
​ |
(200) |
​ |
Cash flows from financing activities: |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Borrowings of debt |
​ |
​ |
10 |
​ |
— |
​ |
— |
​ |
10 |
​ |
Repayments of debt |
​ |
Ìý |
(31) |
​ |
— |
​ |
— |
​ |
(31) |
​ |
Other financing activities, net |
​ |
​ |
27 |
​ |
— |
​ |
— |
​ |
27 |
​ |
Net cash provided (used) by financing activities |
​ |
Ìý |
6 |
​ |
— |
​ |
— |
​ |
6 |
​ |
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash |
​ |
​ |
(8) |
​ |
— |
​ |
— |
​ |
(8) |
​ |
Net cash provided (used) by discontinued operations: |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Cash provided (used) by operating activities |
​ |
​ |
— |
​ |
— |
​ |
753 |
​ |
753 |
​ |
Cash provided (used) by investing activities |
​ |
​ |
— |
​ |
— |
​ |
(550) |
​ |
(550) |
​ |
Cash provided (used) by financing activities |
​ |
​ |
— |
​ |
— |
​ |
(314) |
​ |
(314) |
​ |
Net cash provided (used) by discontinued operations |
​ |
​ |
— |
​ |
— |
​ |
(111) |
​ |
(111) |
​ |
Net increase (decrease) in cash, cash equivalents and restricted cash |
​ |
Ìý |
91 |
​ |
101 |
​ |
(111) |
​ |
81 |
​ |
Cash, cash equivalents and restricted cash at beginning of period |
​ |
Ìý |
1,408 |
​ |
305 |
​ |
315 |
​ |
2,028 |
​ |
Cash, cash equivalents and restricted cash at end of period |
​ |
$ |
1,499 |
​ |
406 |
​ |
204 |
​ |
2,109 |
​ |
​
|