Ƶ

Annual report pursuant to Section 13 and 15(d)

Financial Information for Tracking Stock Groups - Cash Flows (Details)

v3.22.4
Financial Information for Tracking Stock Groups - Cash Flows (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities:
Net earnings (loss) $ 2,029 $ 744 $ (1,391)
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization 1,044 1,072 1,083
Stock-based compensation 237 256 261
Non-cash impairment and restructuring costs 70 24 1,000
Share of (earnings) loss of affiliates, net (99) 200 586
Realized and unrealized (gains) losses on financial instruments, net (599) 451 402
Noncash interest expense 26 16 17
Losses (gains) on dilution of investment in affiliate (10) (152) (4)
Loss (gain) on early extinguishment of debt (35) 80 40
Deferred income tax expense (benefit) 13 (41) (95)
Other charges (credits), net 10 2 11
Changes in operating assets and liabilities
Current and other assets (17) (104) (34)
Payables and other liabilities (123) (111) (146)
Net cash provided (used) by operating activities 2,546 2,437 1,730
Cash flows from investing activities:
Subsidiary initial public offering proceeds returned from (invested in) trust account 579 (575)
Cash proceeds from dispositions of investments 167 383 13
Cash (paid) received for acquisitions, net of cash acquired (136) (14) (300)
Investments in equity method affiliates and debt and equity securities (58) (252) (113)
Return of investment in equity method affiliates 38 40 105
Repayment of loans and other cash receipts from equity method affiliates and debt and equity securities 2 12 20
Capital expended for property and equipment, including internal-use software and website development (735) (440) (452)
Proceeds from insurance recoveries 225
Other investing activities, net 97 (68) (9)
Net cash provided (used) by investing activities (46) (689) (736)
Cash flows from financing activities:
Borrowings of debt 6,189 6,411 4,898
Repayments of debt (7,426) (6,287) (2,931)
Repayment of initial public offering proceeds to subsidiary shareholders (579)
Liberty stock repurchases (395) (555) (318)
Subsidiary shares repurchased by subsidiary (647) (1,523) (1,555)
Proceeds from initial public offering of subsidiary 575
Proceeds from Liberty SiriusXM common stock rights offering 754
Cash dividends paid by subsidiary (249) (58) (64)
Taxes paid in lieu of shares issued for stock-based compensation (123) (154) (120)
Other financing activities, net 82 (107) (90)
Net cash provided (used) by financing activities (3,148) (1,698) 574
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash (3) 3
Net increase (decrease) in cash, cash equivalents and restricted cash (648) 47 1,571
Cash, cash equivalents and restricted cash at beginning of period 2,924 2,877 1,306
Cash, cash equivalents and restricted cash at end of period 2,276 2,924 2,877
Liberty SiriusXM Group
Cash flows from operating activities:
Net earnings (loss) 1,502 875 (719)
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization 611 603 573
Stock-based compensation 209 215 234
Non-cash impairment and restructuring costs 65 24 1,000
Share of (earnings) loss of affiliates, net (67) 253 484
Unrealized (gains) losses on intergroup interests, net 19 (121) (125)
Realized and unrealized (gains) losses on financial instruments, net (471) 433 521
Noncash interest expense 19 15 12
Losses (gains) on dilution of investment in affiliate (10) (152) (4)
Loss (gain) on early extinguishment of debt (21) 83 40
Deferred income tax expense (benefit) 329 (12) 40
Intergroup tax allocation 91 9 5
Intergroup tax (payments) receipts (80) (2) 8
Other charges (credits), net 10 (15) 2
Changes in operating assets and liabilities
Current and other assets 80 (59) 32
Payables and other liabilities (327) (255) (179)
Net cash provided (used) by operating activities 1,959 1,894 1,924
Cash flows from investing activities:
Cash proceeds from dispositions of investments 66 177
Cash (paid) received for acquisitions, net of cash acquired (136) (14) (300)
Investments in equity method affiliates and debt and equity securities (1) (73) (96)
Return of investment in equity method affiliates 1 1
Repayment of loans and other cash receipts from equity method affiliates and debt and equity securities 2 12 20
Capital expended for property and equipment, including internal-use software and website development (426) (388) (350)
Proceeds from insurance recoveries 225
Other investing activities, net 1 (4) (8)
Net cash provided (used) by investing activities (493) (64) (734)
Cash flows from financing activities:
Borrowings of debt 3,150 6,294 4,149
Repayments of debt (3,553) (5,872) (2,203)
Intergroup loan (repayment) borrowing 78 (750)
Liberty stock repurchases (358) (500) (249)
Subsidiary shares repurchased by subsidiary (647) (1,523) (1,555)
Reattribution between Liberty SiriusXM Group and Liberty Formula One Group (608)
Proceeds from Liberty SiriusXM common stock rights offering 754
Cash dividends paid by subsidiary (249) (58) (64)
Taxes paid in lieu of shares issued for stock-based compensation (147) (106) (116)
Settlement of intergroup call spread (384)
Other financing activities, net 24 (83) (47)
Net cash provided (used) by financing activities (1,702) (2,232) (689)
Net increase (decrease) in cash, cash equivalents and restricted cash (236) (402) 501
Cash, cash equivalents and restricted cash at beginning of period 606 1,008 507
Cash, cash equivalents and restricted cash at end of period 370 606 1,008
Braves Group
Cash flows from operating activities:
Net earnings (loss) (35) (11) (78)
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization 71 72 69
Stock-based compensation 12 12 6
Non-cash impairment and restructuring costs 5
Share of (earnings) loss of affiliates, net (32) (30) (6)
Unrealized (gains) losses on intergroup interests, net 35 31 (42)
Realized and unrealized (gains) losses on financial instruments, net (13) (3) 10
Noncash interest expense 2 1
Deferred income tax expense (benefit) (10) 12 (10)
Intergroup tax allocation 18 (4) (28)
Intergroup tax (payments) receipts 8 7 2
Other charges (credits), net 1 20 9
Changes in operating assets and liabilities
Current and other assets (10) (43) (29)
Payables and other liabilities 1 (1) 41
Net cash provided (used) by operating activities 53 62 (55)
Cash flows from investing activities:
Cash proceeds from dispositions of investments 48 2
Investments in equity method affiliates and debt and equity securities (5)
Return of investment in equity method affiliates 28
Capital expended for property and equipment, including internal-use software and website development (18) (35) (81)
Other investing activities, net 8 4
Net cash provided (used) by investing activities 53 (25) (77)
Cash flows from financing activities:
Borrowings of debt 155 117 228
Repayments of debt (309) (93) (114)
Intergroup loan (repayment) borrowing (14)
Taxes paid in lieu of shares issued for stock-based compensation (1)
Other financing activities, net (9) (2) (8)
Net cash provided (used) by financing activities (177) 22 105
Net increase (decrease) in cash, cash equivalents and restricted cash (71) 59 (27)
Cash, cash equivalents and restricted cash at beginning of period 244 185 212
Cash, cash equivalents and restricted cash at end of period 173 244 185
Formula One Group
Cash flows from operating activities:
Net earnings (loss) 562 (120) (594)
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization 362 397 441
Stock-based compensation 16 29 21
Share of (earnings) loss of affiliates, net (23) 108
Unrealized (gains) losses on intergroup interests, net (54) 90 167
Realized and unrealized (gains) losses on financial instruments, net (115) 21 (129)
Noncash interest expense 5 1 4
Loss (gain) on early extinguishment of debt (14) (3)
Deferred income tax expense (benefit) (306) (41) (125)
Intergroup tax allocation (109) (5) 23
Intergroup tax (payments) receipts 72 (5) (10)
Other charges (credits), net (1) (3)
Changes in operating assets and liabilities
Current and other assets (87) (2) (37)
Payables and other liabilities 203 145 (8)
Net cash provided (used) by operating activities 534 481 (139)
Cash flows from investing activities:
Subsidiary initial public offering proceeds returned from (invested in) trust account 579 (575)
Cash proceeds from dispositions of investments 53 204 13
Investments in equity method affiliates and debt and equity securities (52) (179) (17)
Return of investment in equity method affiliates 9 39 105
Capital expended for property and equipment, including internal-use software and website development (291) (17) (21)
Other investing activities, net 96 (72) (5)
Net cash provided (used) by investing activities 394 (600) 75
Cash flows from financing activities:
Borrowings of debt 2,884 521
Repayments of debt (3,564) (322) (614)
Repayment of initial public offering proceeds to subsidiary shareholders (579)
Intergroup loan (repayment) borrowing (64) 750
Liberty stock repurchases (37) (55) (69)
Reattribution between Liberty SiriusXM Group and Liberty Formula One Group 608
Proceeds from initial public offering of subsidiary 575
Taxes paid in lieu of shares issued for stock-based compensation 24 (48) (3)
Settlement of intergroup call spread 384
Other financing activities, net 67 (22) (35)
Net cash provided (used) by financing activities (1,269) 512 1,158
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash (3) 3
Net increase (decrease) in cash, cash equivalents and restricted cash (341) 390 1,097
Cash, cash equivalents and restricted cash at beginning of period 2,074 1,684 587
Cash, cash equivalents and restricted cash at end of period $ 1,733 $ 2,074 $ 1,684