茄子污污视频

Annual report pursuant to Section 13 and 15(d)

Information 茄子污污视频 Liberty's Operating Segments

v3.22.4
Information 茄子污污视频 Liberty's Operating Segments
12 Months Ended
Dec. 31, 2022
Information 茄子污污视频 Liberty's Operating Segments
Information 茄子污污视频 Liberty's Operating Segments

(19)听听Information 茄子污污视频 Liberty鈥檚 Operating Segments

The Company, through its ownership interests in subsidiaries and other companies, is primarily engaged in the media and entertainment industries. The Company identifies its reportable segments as (A)听those consolidated subsidiaries that represent 10% or more of its consolidated annual revenue, annual Adjusted OIBDA (as defined below) or total assets and (B)听those equity method affiliates whose share of earnings (losses) represent 10% or more of the Company鈥檚 annual pre-tax earnings (loss).

Liberty鈥檚 chief operating decision maker evaluates performance and makes decisions about allocating resources to the Company鈥檚 reportable segments based on financial measures such as revenue and Adjusted OIBDA (as defined below). In addition, the Company reviews nonfinancial measures such as subscriber growth, churn and penetration.

For segment reporting purposes, the Company defines Adjusted OIBDA as revenue less operating expenses, and selling, general and administrative expenses excluding all stock-based compensation, separately reported litigation settlements and restructuring and impairment charges. The Company believes this measure is an important indicator of the operational strength and performance of its businesses, by identifying those items that are not directly a reflection of each business鈥 performance or indicative of ongoing business trends. In addition, this measure allows management to view operating results and perform analytical comparisons and benchmarking between businesses and identify strategies to improve performance. This measure of performance excludes depreciation and amortization, stock-based compensation, separately reported litigation settlements, restructuring, acquisition and impairment charges that are included in the measurement of operating income pursuant to GAAP. Accordingly, Adjusted OIBDA should be considered in addition to, but not as a substitute for, operating income, net income, cash flow provided by operating activities and other measures of financial performance prepared in accordance with GAAP. The Company generally accounts for intersegment sales and transfers as if the sales or transfers were to third parties, that is, at current prices.

The Company has identified the following subsidiaries as its reportable segments:

Sirius XM Holdings is a consolidated subsidiary that operates two complementary audio entertainment businesses, Sirius XM and Pandora and Off-platform. Sirius XM features music, sports, entertainment, comedy, talk, news, traffic and weather channels and other content, as well as podcasts and infotainment services, in the U.S. on a subscription fee basis. Sirius XM鈥檚 packages include live, curated and certain exclusive and on demand programming. The Sirius XM service is distributed through its two proprietary satellite radio systems and streamed via applications for mobile devices, home devices and other consumer electronic equipment. Sirius XM also provides connected vehicle services and a suite of in-vehicle data services. Pandora operates a music and podcast streaming discovery platform.听 Pandora is available as an ad-supported radio service, a radio subscription service, called Pandora Plus, and an on-demand subscription service, called Pandora Premium. Pandora also sells advertising on other audio platforms in widely distributed podcasts, which are considered to be off-platform services.
Formula听1 is a global motorsports business that holds exclusive commercial rights with respect to the World Championship, an annual, approximately nine-month long, motor race-based competition in which teams compete for the Constructors鈥 Championship and drivers compete for the Drivers鈥 Championship. The World Championship takes place on various circuits with a varying number of events taking place in different countries around the world each season. Formula听1 is responsible for the commercial exploitation and development of the World Championship as well as various aspects of its management and administration.

The Company鈥檚 reportable segments are strategic business units that offer different products and services. They are managed separately because each segment requires different technologies, differing revenue sources and marketing strategies. The significant accounting policies of the segments that are also consolidated subsidiaries are the same as those described in the Company鈥檚 summary of significant policies.

As of December 31, 2021, Live Nation met the Company鈥檚 reportable segment threshold for equity method affiliates due to significant losses driven by COVID-19. As of December 31, 2022, Live Nation did not meet the Company鈥檚 reportable segment threshold for equity method affiliates. Accordingly, the segment presentation for prior periods has been conformed to the current period segment presentation. 听

Performance Measures

Years听ended听December听31,

2022

2021

2020

听听听听

听听听听

Adjusted

听听听听

听听听听

Adjusted

听听听听

听听听听

Adjusted

Revenue

OIBDA

Revenue

OIBDA

Revenue

OIBDA

amounts听in听millions

Liberty SiriusXM Group

Sirius XM Holdings

$

9,003

2,833

8,696

2,770

8,040

2,575

Corporate and other

(26)

(15)

(31)

Total Liberty SiriusXM Group

9,003

2,807

8,696

2,755

8,040

2,544

Braves Group

Corporate and other

588

61

568

104

178

(53)

Total Braves Group

588

61

568

104

178

(53)

Formula One Group

Formula 1

2,573

593

2,136

495

1,145

56

Corporate and other

(42)

(29)

(38)

Total Formula One Group

2,573

551

2,136

466

1,145

18

Total

$

12,164

3,419

11,400

3,325

9,363

2,509

Other Information

December听31,听2022

December听31,听2021

听听听听

Total

听听听听

Investments

听听听听

Capital

听听听听

Total

听听听听

Investments

听听听听

Capital

assets

in听affiliates

expenditures

assets

in听affiliates

expenditures

amounts听in听millions

Liberty SiriusXM Group

Sirius XM Holdings

$

29,501

665

426

29,812

716

388

Corporate and other

978

158

1,862

89

Total Liberty SiriusXM Group

30,479

823

426

31,674

805

388

Braves Group

Corporate and other

1,477

95

18

1,636

110

35

Total Braves Group

1,477

95

18

1,636

110

35

Formula One Group

Formula 1

8,980

38

8,819

17

Corporate and other

2,036

34

253

2,845

30

Total Formula One Group

11,016

34

291

11,664

30

17

Elimination (1)

(508)

(623)

Consolidated Liberty

$

42,464

952

735

44,351

945

440

(1) As of December 31, 2022 and 2021, this amount includes the intergroup interests in the Braves Group held by the Formula One Group and the Liberty SiriusXM Group and the intergroup interest in the Formula One Group held by the Liberty SiriusXM Group, as discussed in note 2. The Braves Group intergroup interests attributable to the Formula One Group and the Liberty SiriusXM Group are presented as assets of the Formula One Group and Liberty SiriusXM
Group, respectively, and are presented as liabilities of the Braves Group in the attributed financial statements. The Formula One Group intergroup interest attributable to the Liberty SiriusXM Group is presented as an asset of the Liberty SiriusXM Group and is presented as a liability of the Formula One Group in the attributed financial statements. The offsetting amounts between tracking stock groups are eliminated in consolidation.

As of December 31, 2020, this amount was also comprised of the call spread between the Formula One Group and the Liberty SiriusXM Group with respect to the Live Nation shares that were reattributed to the Liberty SiriusXM Group. During the year ended December 31, 2021, the Liberty SiriusXM Group paid approximately $384 million to the Formula One Group to settle its obligation under the call spread.

The following table provides a reconciliation of Adjusted OIBDA to Operating income (loss) and Earnings (loss) from continuing operations before income taxes:

Years听ended听December听31,

听听听听

2022

听听听听

2021

听听听听

2020

amounts in millions

Adjusted OIBDA

$

3,419

3,325

2,509

Litigation settlements and reserves

16

Stock-based compensation

(237)

(256)

(261)

Impairment, restructuring and acquisition costs, net of recoveries (notes 5 and 8)

(74)

(20)

(1,004)

Depreciation and amortization

(1,044)

(1,072)

(1,083)

Operating income (loss)

2,064

1,977

177

Interest expense

(689)

(642)

(634)

Share of earnings (losses) of affiliates, net

99

(200)

(586)

Realized and unrealized gains (losses) on financial instruments, net

599

(451)

(402)

Gains (losses) on dilution of investment in affiliate

10

152

4

Other, net

110

(47)

6

Earnings (loss) from continuing operations before income taxes

$

2,193

789

(1,435)

Revenue by Geographic Area

Revenue by geographic area based on the country of domicile is as follows:

Years听ended听December听31,

听听听听

2022

听听听听

2021

听听听听

2020

amounts听in听millions

United States

$

9,480

9,163

8,121

United Kingdom

2,573

2,136

1,145

Other

111

101

97

$

12,164

11,400

9,363

Long-lived Assets by Geographic Area

December听31,

听听听听

2022

听听听听

2021

amounts听in听millions

United States

$

2,208

1,984

United Kingdom

47

26

$

2,255

2,010