Financial Information for Tracking Stock Groups (Tables)
|
9 Months Ended |
Sep. 30, 2025 |
|---|
| Financial Information for Tracking Stock Groups |
Ìý
|
| Condensed Balance Sheets |
BALANCE SHEET INFORMATION
September 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 |
​ |
$ |
1,291 |
​ |
297 |
​ |
— |
​ |
1,588 |
Ìý |
Trade and other receivables, net |
​ |
Ìý |
302 |
​ |
1 |
​ |
— |
​ |
303 |
Ìý |
Other current assets |
​ |
Ìý |
468 |
​ |
— |
​ |
— |
​ |
468 |
Ìý |
Total current assets |
​ |
Ìý |
2,061 |
​ |
298 |
​ |
— |
​ |
2,359 |
Ìý |
Investments in affiliates, accounted for using the equity method (noteÌý1) |
​ |
Ìý |
33 |
​ |
708 |
​ |
— |
​ |
741 |
Ìý |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Property and equipment, at cost |
​ |
Ìý |
1,029 |
​ |
— |
​ |
— |
​ |
1,029 |
Ìý |
Accumulated depreciation |
​ |
Ìý |
(202) |
​ |
— |
​ |
— |
​ |
(202) |
Ìý |
​ |
​ |
Ìý |
827 |
​ |
— |
​ |
— |
​ |
827 |
Ìý |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Goodwill |
​ |
Ìý |
7,200 |
​ |
— |
​ |
— |
​ |
7,200 |
Ìý |
Intangible assets subject to amortization, net |
​ |
Ìý |
5,267 |
​ |
— |
​ |
— |
​ |
5,267 |
Ìý |
Deferred income tax assets |
​ |
​ |
560 |
​ |
267 |
​ |
(28) |
​ |
799 |
​ |
Other assets |
​ |
Ìý |
412 |
​ |
216 |
​ |
— |
​ |
628 |
Ìý |
Total assets |
​ |
$ |
16,360 |
​ |
1,489 |
​ |
(28) |
​ |
17,821 |
Ìý |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Liabilities and Equity |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Current liabilities: |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Intergroup payable (receivable) (note 3) |
​ |
$ |
2 |
​ |
(2) |
​ |
— |
​ |
— |
​ |
Accounts payable and accrued liabilities |
​ |
​ |
472 |
​ |
2 |
​ |
— |
​ |
474 |
​ |
Current portion of debt |
​ |
​ |
42 |
​ |
1,873 |
​ |
— |
​ |
1,915 |
​ |
Deferred revenue |
​ |
Ìý |
1,090 |
​ |
— |
​ |
— |
​ |
1,090 |
​ |
Financial instrument liabilities |
​ |
​ |
1 |
​ |
— |
​ |
— |
​ |
1 |
​ |
Other current liabilities |
​ |
Ìý |
46 |
​ |
— |
​ |
— |
​ |
46 |
​ |
Total current liabilities |
​ |
Ìý |
1,653 |
​ |
1,873 |
​ |
— |
​ |
3,526 |
​ |
Long-term debt (note 1) |
​ |
Ìý |
5,122 |
​ |
— |
​ |
— |
​ |
5,122 |
​ |
Deferred income tax liabilities |
​ |
​ |
688 |
​ |
— |
​ |
(28) |
​ |
660 |
​ |
Other liabilities |
​ |
Ìý |
273 |
​ |
150 |
​ |
— |
​ |
423 |
​ |
Total liabilities |
​ |
Ìý |
7,736 |
​ |
2,023 |
​ |
(28) |
​ |
9,731 |
​ |
Redeemable noncontrolling interests in equity of subsidiary |
​ |
​ |
692 |
​ |
— |
​ |
— |
​ |
692 |
​ |
Equity / Attributed net assets |
​ |
Ìý |
7,932 |
​ |
(556) |
​ |
— |
​ |
7,376 |
​ |
Noncontrolling interests in equity of subsidiaries |
​ |
Ìý |
— |
​ |
22 |
​ |
— |
​ |
22 |
​ |
Total liabilities and equity |
​ |
$ |
16,360 |
​ |
1,489 |
​ |
(28) |
​ |
17,821 |
​ |
|
| Condensed Statement of Operations |
STATEMENT OF OPERATIONS INFORMATION
Three months ended September 30, 2025
(unaudited)
​
|
|
|
|
|
|
|
|
|
​ |
​ |
Attributed (note 1) |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Â鶹×îгöÆ· |
​ |
​ |
​ |
​ |
​ |
Formula One |
​ |
Live |
​ |
Consolidated |
​ |
​ |
​ |
Group |
​ |
Group |
​ |
Â鶹×îгöÆ· |
​ |
|
​ |
​ |
amounts in millions |
​ |
Revenue: |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Motorsport revenue |
​ |
$ |
1,024 |
​ |
— |
​ |
1,024 |
​ |
Other revenue |
​ |
Ìý |
61 |
​ |
— |
​ |
61 |
​ |
Total revenue |
​ |
Ìý |
1,085 |
​ |
— |
​ |
1,085 |
​ |
Operating costs and expenses: |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Cost of motorsport revenue (exclusive of depreciation shown separately below) |
​ |
​ |
631 |
​ |
— |
​ |
631 |
​ |
Other cost of sales |
​ |
​ |
33 |
​ |
— |
​ |
33 |
​ |
Selling, general and administrative, including stock-based compensation (note 2) |
​ |
Ìý |
131 |
​ |
9 |
​ |
140 |
​ |
Acquisition costs |
​ |
​ |
14 |
​ |
— |
​ |
14 |
​ |
Depreciation and amortization |
​ |
Ìý |
118 |
​ |
— |
​ |
118 |
​ |
​ |
​ |
Ìý |
927 |
​ |
9 |
​ |
936 |
​ |
Operating income (loss) |
​ |
Ìý |
158 |
​ |
(9) |
​ |
149 |
​ |
Other income (expense): |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Interest expense |
​ |
Ìý |
(79) |
​ |
(7) |
​ |
(86) |
​ |
Share of earnings (losses) of affiliates, net |
​ |
Ìý |
(3) |
​ |
124 |
​ |
121 |
​ |
Realized and unrealized gains (losses) on financial instruments, net |
​ |
Ìý |
17 |
​ |
(177) |
​ |
(160) |
​ |
Other, net |
​ |
Ìý |
(4) |
​ |
3 |
​ |
(1) |
​ |
​ |
​ |
Ìý |
(69) |
​ |
(57) |
​ |
(126) |
​ |
Earnings (loss) before income taxes |
​ |
Ìý |
89 |
​ |
(66) |
​ |
23 |
​ |
Income tax (expense) benefit |
​ |
Ìý |
(23) |
​ |
13 |
​ |
(10) |
​ |
Net earnings (loss) |
​ |
​ |
66 |
​ |
(53) |
​ |
13 |
​ |
Less net earnings (loss) attributable to the noncontrolling interests |
​ |
Ìý |
— |
​ |
— |
​ |
— |
​ |
Net earnings (loss) attributable to Â鶹×îгöÆ· stockholders |
​ |
$ |
66 |
​ |
(53) |
​ |
13 |
​ |
​
STATEMENT OF OPERATIONS INFORMATION
Nine months ended September 30, 2025
(unaudited)
​
|
|
|
|
|
|
|
|
|
​ |
​ |
Attributed (note 1) |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Â鶹×îгöÆ· |
​ |
​ |
​ |
​ |
​ |
Formula One |
​ |
Live |
​ |
Consolidated |
​ |
​ |
​ |
Group |
​ |
Group |
​ |
Â鶹×îгöÆ· |
​ |
|
​ |
​ |
amounts in millions |
​ |
Revenue: |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Motorsport revenue |
​ |
$ |
2,627 |
​ |
— |
​ |
2,627 |
​ |
Other revenue |
​ |
Ìý |
246 |
​ |
— |
Ìý |
246 |
​ |
Total revenue |
​ |
Ìý |
2,873 |
​ |
— |
Ìý |
2,873 |
​ |
Operating costs and expenses: |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Cost of motorsport revenue (exclusive of depreciation shown separately below) |
​ |
​ |
1,696 |
​ |
— |
​ |
1,696 |
​ |
Other cost of sales |
​ |
​ |
160 |
​ |
— |
​ |
160 |
​ |
Selling, general and administrative, including stock-based compensation (note 2) |
​ |
Ìý |
343 |
​ |
20 |
Ìý |
363 |
​ |
Acquisition costs |
​ |
​ |
28 |
​ |
— |
Ìý |
28 |
​ |
Depreciation and amortization |
​ |
Ìý |
275 |
​ |
— |
Ìý |
275 |
​ |
​ |
​ |
Ìý |
2,502 |
​ |
20 |
Ìý |
2,522 |
​ |
Operating income (loss) |
​ |
Ìý |
371 |
​ |
(20) |
Ìý |
351 |
​ |
Other income (expense): |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Interest expense |
​ |
Ìý |
(176) |
​ |
(22) |
Ìý |
(198) |
​ |
Share of earnings (losses) of affiliates, net |
​ |
Ìý |
(8) |
​ |
201 |
Ìý |
193 |
​ |
Realized and unrealized gains (losses) on financial instruments, net |
​ |
Ìý |
259 |
​ |
(483) |
Ìý |
(224) |
​ |
Other, net |
​ |
Ìý |
96 |
​ |
9 |
Ìý |
105 |
​ |
​ |
​ |
Ìý |
171 |
​ |
(295) |
Ìý |
(124) |
​ |
Earnings (loss) from income taxes |
​ |
Ìý |
542 |
​ |
(315) |
Ìý |
227 |
​ |
Income tax (expense) benefit |
​ |
Ìý |
(72) |
​ |
67 |
Ìý |
(5) |
​ |
Net earnings (loss) |
​ |
​ |
470 |
​ |
(248) |
​ |
222 |
​ |
Less net earnings (loss) attributable to the noncontrolling interests |
​ |
Ìý |
— |
​ |
— |
Ìý |
— |
​ |
Net earnings (loss) attributable to Â鶹×îгöÆ· stockholders |
​ |
$ |
470 |
​ |
(248) |
Ìý |
222 |
​ |
​
​
STATEMENT OF OPERATIONS INFORMATION
Three months ended September 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: |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Motorsport revenue |
​ |
$ |
848 |
​ |
— |
​ |
— |
​ |
848 |
​ |
Other revenue |
​ |
Ìý |
63 |
​ |
— |
​ |
— |
​ |
63 |
​ |
Total revenue |
​ |
Ìý |
911 |
​ |
— |
​ |
— |
​ |
911 |
​ |
Operating costs and expenses: |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Cost of motorsport revenue (exclusive of depreciation shown separately below) |
​ |
​ |
554 |
​ |
— |
​ |
— |
​ |
554 |
​ |
Other cost of sales |
​ |
​ |
41 |
​ |
— |
​ |
— |
​ |
41 |
​ |
Selling, general and administrative, including stock-based compensation (note 2) |
​ |
Ìý |
115 |
​ |
3 |
​ |
— |
​ |
118 |
​ |
Acquisition costs |
​ |
​ |
3 |
​ |
— |
​ |
— |
​ |
3 |
​ |
Depreciation and amortization |
​ |
Ìý |
88 |
​ |
— |
​ |
— |
​ |
88 |
​ |
​ |
​ |
Ìý |
801 |
​ |
3 |
​ |
— |
​ |
804 |
​ |
Operating income (loss) |
​ |
Ìý |
110 |
​ |
(3) |
​ |
— |
​ |
107 |
​ |
Other income (expense): |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Interest expense |
​ |
Ìý |
(54) |
​ |
(8) |
​ |
— |
​ |
(62) |
​ |
Share of earnings (losses) of affiliates, net |
​ |
Ìý |
(1) |
​ |
117 |
​ |
— |
​ |
116 |
​ |
Realized and unrealized gains (losses) on financial instruments, net |
​ |
Ìý |
39 |
​ |
(94) |
​ |
— |
​ |
(55) |
​ |
Other, net |
​ |
Ìý |
21 |
​ |
8 |
​ |
— |
​ |
29 |
​ |
​ |
​ |
Ìý |
5 |
​ |
23 |
​ |
— |
​ |
28 |
​ |
Earnings (loss) from continuing operations before income taxes |
​ |
Ìý |
115 |
​ |
20 |
​ |
— |
​ |
135 |
​ |
Income tax (expense) benefit |
​ |
Ìý |
2 |
​ |
(5) |
​ |
— |
​ |
(3) |
​ |
Net earnings (loss) from continuing operations |
​ |
Ìý |
117 |
​ |
15 |
​ |
— |
​ |
132 |
​ |
Net earnings (loss) from discontinued operations |
​ |
​ |
— |
​ |
— |
​ |
(3,002) |
​ |
(3,002) |
​ |
Net earnings (loss) |
​ |
​ |
117 |
​ |
15 |
​ |
(3,002) |
​ |
(2,870) |
​ |
Less net earnings (loss) attributable to the noncontrolling interests |
​ |
Ìý |
— |
​ |
— |
​ |
(502) |
​ |
(502) |
​ |
Net earnings (loss) attributable to Â鶹×îгöÆ· stockholders |
​ |
$ |
117 |
​ |
15 |
​ |
(2,500) |
​ |
(2,368) |
​ |
​
STATEMENT OF OPERATIONS INFORMATION
Nine months ended September 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: |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Motorsport revenue |
​ |
$ |
2,251 |
​ |
— |
​ |
— |
​ |
2,251 |
​ |
Other revenue |
​ |
Ìý |
235 |
​ |
— |
​ |
— |
​ |
235 |
​ |
Total revenue |
​ |
Ìý |
2,486 |
​ |
— |
​ |
— |
​ |
2,486 |
​ |
Operating costs and expenses: |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Cost of motorsport revenue (exclusive of depreciation shown separately below) |
​ |
​ |
1,472 |
​ |
— |
​ |
— |
​ |
1,472 |
​ |
Other cost of sales |
​ |
​ |
161 |
​ |
— |
​ |
— |
​ |
161 |
​ |
Selling, general and administrative, including stock-based compensation (note 2) |
​ |
Ìý |
303 |
​ |
7 |
​ |
— |
​ |
310 |
​ |
Acquisition costs |
​ |
​ |
23 |
​ |
— |
​ |
— |
​ |
23 |
​ |
Depreciation and amortization |
​ |
Ìý |
263 |
​ |
— |
​ |
— |
​ |
263 |
​ |
​ |
​ |
Ìý |
2,222 |
​ |
7 |
​ |
— |
​ |
2,229 |
​ |
Operating income (loss) |
​ |
Ìý |
264 |
​ |
(7) |
​ |
— |
​ |
257 |
​ |
Other income (expense): |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Interest expense |
​ |
Ìý |
(162) |
​ |
(22) |
​ |
— |
​ |
(184) |
​ |
Share of earnings (losses) of affiliates, net |
​ |
Ìý |
(6) |
​ |
181 |
​ |
— |
​ |
175 |
​ |
Realized and unrealized gains (losses) on financial instruments, net |
​ |
Ìý |
86 |
​ |
(75) |
​ |
— |
​ |
11 |
​ |
Other, net |
​ |
Ìý |
56 |
​ |
20 |
​ |
— |
​ |
76 |
​ |
​ |
​ |
Ìý |
(26) |
​ |
104 |
​ |
— |
​ |
78 |
​ |
Earnings (loss) from continuing operations before income taxes |
​ |
Ìý |
238 |
​ |
97 |
​ |
— |
​ |
335 |
​ |
Income tax (expense) benefit |
​ |
Ìý |
(20) |
​ |
(21) |
​ |
— |
​ |
(41) |
​ |
Net earnings (loss) from continuing operations |
​ |
Ìý |
218 |
​ |
76 |
​ |
— |
​ |
294 |
​ |
Net earnings (loss) from discontinued operations |
​ |
​ |
— |
​ |
— |
​ |
(2,412) |
​ |
(2,412) |
​ |
Net earnings (loss) |
​ |
​ |
218 |
​ |
76 |
​ |
(2,412) |
​ |
(2,118) |
​ |
Less net earnings (loss) attributable to the noncontrolling interests |
​ |
Ìý |
— |
​ |
— |
​ |
(410) |
​ |
(410) |
​ |
Net earnings (loss) attributable to Â鶹×îгöÆ· stockholders |
​ |
$ |
218 |
​ |
76 |
​ |
(2,002) |
​ |
(1,708) |
​ |
​
|
| Condensed Statement of Cash Flows |
​
STATEMENT OF CASH FLOWS INFORMATION
Nine months ended September 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) |
​ |
$ |
470 |
​ |
(248) |
​ |
222 |
​ |
Adjustments to reconcile net earnings (loss) to net cash provided by operating activities: |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Depreciation and amortization |
​ |
Ìý |
275 |
​ |
— |
​ |
275 |
​ |
Stock-based compensation |
​ |
Ìý |
15 |
​ |
3 |
​ |
18 |
​ |
Share of (earnings) loss of affiliates, net |
​ |
Ìý |
8 |
​ |
(201) |
​ |
(193) |
​ |
Realized and unrealized (gains) losses on financial instruments, net |
​ |
Ìý |
(259) |
​ |
483 |
​ |
224 |
​ |
Deferred income tax expense (benefit) |
​ |
Ìý |
(1) |
​ |
(63) |
​ |
(64) |
​ |
Intergroup tax allocation |
​ |
​ |
4 |
​ |
(4) |
​ |
— |
​ |
Other, net |
​ |
Ìý |
(2) |
​ |
1 |
​ |
(1) |
​ |
Changes in operating assets and liabilities |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Current and other assets |
​ |
Ìý |
(262) |
​ |
— |
​ |
(262) |
​ |
Payables and other liabilities |
​ |
Ìý |
565 |
​ |
1 |
​ |
566 |
​ |
Net cash provided (used) by operating activities |
​ |
Ìý |
813 |
​ |
(28) |
​ |
785 |
​ |
Cash flows from investing activities: |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Investments in equity method affiliates and debt and equity securities |
​ |
Ìý |
(22) |
​ |
(1) |
​ |
(23) |
​ |
Cash proceeds from dispositions |
​ |
​ |
26 |
​ |
— |
​ |
26 |
​ |
Cash (paid) received for acquisitions, net of cash acquired |
​ |
​ |
(3,267) |
​ |
— |
​ |
(3,267) |
​ |
Capital expended for property and equipment, including internal-use software and website development |
​ |
Ìý |
(58) |
​ |
— |
​ |
(58) |
​ |
Cash proceeds from foreign currency forward contracts |
​ |
​ |
3,700 |
​ |
— |
​ |
3,700 |
​ |
Cash paid for foreign currency forward contracts |
​ |
​ |
(3,503) |
​ |
— |
​ |
(3,503) |
​ |
Other investing activities, net |
​ |
Ìý |
(13) |
​ |
— |
​ |
(13) |
​ |
Net cash provided (used) by investing activities |
​ |
Ìý |
(3,137) |
​ |
(1) |
​ |
(3,138) |
​ |
Cash flows from financing activities: |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Borrowings of debt |
​ |
​ |
1,748 |
​ |
— |
​ |
1,748 |
​ |
Repayments of debt |
​ |
Ìý |
(746) |
​ |
— |
​ |
(746) |
​ |
Other financing activities, net |
​ |
​ |
(13) |
​ |
1 |
​ |
(12) |
​ |
Net cash provided (used) by financing activities |
​ |
Ìý |
989 |
​ |
1 |
​ |
990 |
​ |
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash |
​ |
​ |
12 |
​ |
— |
​ |
12 |
​ |
Net increase (decrease) in cash, cash equivalents and restricted cash |
​ |
Ìý |
(1,323) |
​ |
(28) |
​ |
(1,351) |
​ |
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 |
​ |
$ |
1,315 |
​ |
297 |
​ |
1,612 |
​ |
​
STATEMENT OF CASH FLOWS INFORMATION
Nine months ended September 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) |
​ |
$ |
218 |
​ |
76 |
​ |
(2,412) |
​ |
(2,118) |
​ |
Adjustments to reconcile net earnings (loss) to net cash provided by operating activities: |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Net (earnings) loss from discontinued operations |
​ |
​ |
— |
​ |
— |
​ |
2,412 |
​ |
2,412 |
​ |
Depreciation and amortization |
​ |
Ìý |
263 |
​ |
— |
​ |
— |
​ |
263 |
​ |
Stock-based compensation |
​ |
Ìý |
24 |
​ |
3 |
​ |
— |
​ |
27 |
​ |
Share of (earnings) loss of affiliates, net |
​ |
Ìý |
6 |
​ |
(181) |
​ |
— |
​ |
(175) |
​ |
Realized and unrealized (gains) losses on financial instruments, net |
​ |
Ìý |
(86) |
​ |
75 |
​ |
— |
​ |
(11) |
​ |
Deferred income tax expense (benefit) |
​ |
Ìý |
22 |
​ |
22 |
​ |
— |
​ |
44 |
​ |
Intergroup tax allocation |
​ |
​ |
(97) |
​ |
(1) |
​ |
— |
​ |
(98) |
​ |
Intergroup tax (payments) receipts |
​ |
​ |
128 |
​ |
3 |
​ |
— |
​ |
131 |
​ |
Other, net |
​ |
Ìý |
25 |
​ |
(4) |
​ |
— |
​ |
21 |
​ |
Changes in operating assets and liabilities |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Current and other assets |
​ |
Ìý |
(71) |
​ |
— |
​ |
— |
​ |
(71) |
​ |
Payables and other liabilities |
​ |
Ìý |
155 |
​ |
(4) |
​ |
— |
​ |
151 |
​ |
Net cash provided (used) by operating activities |
​ |
Ìý |
587 |
​ |
(11) |
​ |
— |
​ |
576 |
​ |
Cash flows from investing activities: |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Investments in equity method affiliates and debt and equity securities |
​ |
Ìý |
(7) |
​ |
(3) |
​ |
— |
​ |
(10) |
​ |
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 |
(52) |
​ |
— |
​ |
— |
​ |
(52) |
​ |
Other investing activities, net |
​ |
Ìý |
(13) |
​ |
1 |
​ |
— |
​ |
(12) |
​ |
Net cash provided (used) by investing activities |
​ |
Ìý |
(277) |
​ |
105 |
​ |
— |
​ |
(172) |
​ |
Cash flows from financing activities: |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Borrowings of debt |
​ |
​ |
644 |
​ |
— |
​ |
— |
​ |
644 |
​ |
Repayments of debt |
​ |
Ìý |
(671) |
​ |
(12) |
​ |
— |
​ |
(683) |
​ |
Issuance of Series C Â鶹×îгöÆ· Formula One common stock |
​ |
​ |
939 |
​ |
— |
​ |
— |
​ |
939 |
​ |
Other financing activities, net |
​ |
​ |
42 |
​ |
1 |
​ |
— |
​ |
43 |
​ |
Net cash provided (used) by financing activities |
​ |
Ìý |
954 |
​ |
(11) |
​ |
— |
​ |
943 |
​ |
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash |
​ |
​ |
1 |
​ |
— |
​ |
— |
​ |
1 |
​ |
Net cash provided (used) by discontinued operations: |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Cash provided (used) by operating activities |
​ |
​ |
— |
​ |
— |
​ |
879 |
​ |
879 |
​ |
Cash provided (used) by investing activities |
​ |
​ |
— |
​ |
— |
​ |
(709) |
​ |
(709) |
​ |
Cash provided (used) by financing activities |
​ |
​ |
— |
​ |
— |
​ |
(485) |
​ |
(485) |
​ |
Net cash provided (used) by discontinued operations |
​ |
​ |
— |
​ |
— |
​ |
(315) |
​ |
(315) |
​ |
Net increase (decrease) in cash, cash equivalents and restricted cash |
​ |
Ìý |
1,265 |
​ |
83 |
​ |
(315) |
​ |
1,033 |
​ |
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 |
​ |
$ |
2,673 |
​ |
388 |
​ |
— |
​ |
3,061 |
​ |
​
|