Information About Â鶹×îгöÆ·'s Operating Segments (Tables)
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9 Months Ended |
Sep. 30, 2021 |
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| Information About Â鶹×îгöÆ·'s Operating Segments |
Ìý
|
| Schedule of revenue disaggregated by source |
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Three months ended |
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Nine months ended |
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​ |
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September 30, |
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September 30, |
​ |
​ |
ÌýÌýÌýÌý |
2021 |
ÌýÌýÌýÌý |
2020 |
ÌýÌýÌýÌý |
2021 |
ÌýÌýÌýÌý |
2020 |
Ìý |
|
​ |
​ |
amountsÌýinÌýmillions |
​ |
Â鶹×îгöÆ· SiriusXM Group |
​ |
​ |
​ |
Ìý |
​ |
Ìý |
​ |
Ìý |
​ |
​ |
Sirius XM Holdings: |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Subscriber |
​ |
$ |
1,666 |
​ |
1,594 |
​ |
4,918 |
Ìý |
4,757 |
​ |
Advertising |
​ |
Ìý |
452 |
​ |
345 |
​ |
1,235 |
Ìý |
866 |
​ |
Equipment |
​ |
​ |
41 |
​ |
47 |
​ |
149 |
​ |
113 |
​ |
Other |
​ |
​ |
39 |
​ |
39 |
​ |
113 |
​ |
115 |
​ |
Total Â鶹×îгöÆ· SiriusXM Group |
​ |
​ |
2,198 |
​ |
2,025 |
​ |
6,415 |
​ |
5,851 |
​ |
Braves Group |
​ |
Ìý |
​ |
Ìý |
​ |
Ìý |
​ |
Ìý |
​ |
​ |
Corporate and other: |
​ |
Ìý |
​ |
Ìý |
​ |
Ìý |
​ |
Ìý |
​ |
​ |
Baseball |
​ |
Ìý |
222 |
Ìý |
102 |
Ìý |
433 |
Ìý |
119 |
​ |
Development |
​ |
Ìý |
12 |
Ìý |
8 |
Ìý |
33 |
Ìý |
24 |
​ |
Total Braves Group |
​ |
​ |
234 |
​ |
110 |
​ |
466 |
​ |
143 |
​ |
Formula One Group |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Formula 1: |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Primary |
​ |
​ |
612 |
​ |
558 |
​ |
1,235 |
​ |
590 |
​ |
Other |
​ |
​ |
56 |
​ |
39 |
​ |
114 |
​ |
70 |
​ |
Total Formula One Group |
​ |
​ |
668 |
​ |
597 |
​ |
1,349 |
​ |
660 |
​ |
Consolidated Â鶹×îгöÆ· |
​ |
$ |
3,100 |
​ |
2,732 |
Ìý |
8,230 |
Ìý |
6,654 |
​ |
|
| Adjusted OIBDA by segment |
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​ |
​ |
Three months ended |
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Nine months ended |
​ |
​ |
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September 30, |
​ |
September 30, |
​ |
​ |
ÌýÌýÌýÌý |
2021 |
ÌýÌýÌýÌý |
2020 |
ÌýÌýÌýÌý |
2021 |
ÌýÌýÌýÌý |
2020 |
Ìý |
|
​ |
​ |
amountsÌýinÌýmillions |
​ |
Â鶹×îгöÆ· SiriusXM Group |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Sirius XM Holdings |
​ |
$ |
720 |
Ìý |
661 |
Ìý |
2,101 |
Ìý |
1,915 |
​ |
Live Nation |
​ |
​ |
306 |
​ |
(320) |
​ |
164 |
​ |
(647) |
​ |
Corporate and other |
​ |
Ìý |
(5) |
Ìý |
(7) |
Ìý |
(12) |
Ìý |
(26) |
​ |
​ |
​ |
​ |
1,021 |
​ |
334 |
​ |
2,253 |
​ |
1,242 |
​ |
Eliminate equity method affiliate |
​ |
​ |
(306) |
​ |
320 |
​ |
(164) |
​ |
647 |
​ |
Total Â鶹×îгöÆ· SiriusXM Group |
​ |
Ìý |
715 |
Ìý |
654 |
Ìý |
2,089 |
Ìý |
1,889 |
​ |
Braves Group |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Corporate and other |
​ |
Ìý |
55 |
Ìý |
5 |
Ìý |
86 |
Ìý |
(49) |
​ |
Total Braves Group |
​ |
Ìý |
55 |
Ìý |
5 |
Ìý |
86 |
Ìý |
(49) |
​ |
Formula One Group |
​ |
Ìý |
​ |
​ |
​ |
​ |
​ |
Ìý |
​ |
​ |
Formula 1 |
​ |
Ìý |
180 |
Ìý |
14 |
Ìý |
312 |
Ìý |
(34) |
​ |
Live Nation |
​ |
​ |
NA |
​ |
NA |
​ |
NA |
​ |
(125) |
​ |
Corporate and other |
​ |
​ |
(4) |
​ |
(6) |
​ |
(14) |
​ |
(26) |
​ |
​ |
​ |
​ |
176 |
​ |
8 |
​ |
298 |
​ |
(185) |
​ |
Eliminate equity method affiliate |
​ |
​ |
NA |
​ |
NA |
​ |
NA |
​ |
125 |
​ |
Total Formula One Group |
​ |
​ |
176 |
​ |
8 |
​ |
298 |
​ |
(60) |
​ |
Consolidated Â鶹×îгöÆ· |
​ |
$ |
946 |
Ìý |
667 |
Ìý |
2,473 |
Ìý |
1,780 |
​ |
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| Other Information By Segment |
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September 30, 2021 |
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ÌýÌýÌýÌý |
Total |
ÌýÌýÌýÌý |
Investments |
ÌýÌýÌýÌý |
Capital |
Ìý |
​ |
​ |
assets |
​ |
inÌýaffiliates |
​ |
expenditures |
​ |
|
​ |
​ |
amountsÌýinÌýmillions |
​ |
Â鶹×îгöÆ· SiriusXM Group |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Sirius XM Holdings |
​ |
$ |
29,739 |
Ìý |
725 |
Ìý |
244 |
​ |
Live Nation |
​ |
​ |
13,331 |
​ |
246 |
​ |
110 |
​ |
Corporate and other |
​ |
​ |
1,758 |
​ |
149 |
​ |
— |
​ |
​ |
​ |
​ |
44,828 |
​ |
1,120 |
​ |
354 |
​ |
Eliminate equity method affiliate |
​ |
​ |
(13,331) |
​ |
(246) |
​ |
(110) |
​ |
Total Â鶹×îгöÆ· SiriusXM Group |
​ |
​ |
31,497 |
​ |
874 |
​ |
244 |
​ |
Braves Group |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Corporate and other |
​ |
​ |
1,625 |
​ |
108 |
​ |
26 |
​ |
Total Braves Group |
​ |
​ |
1,625 |
​ |
108 |
​ |
26 |
​ |
Formula One Group |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Formula 1 |
​ |
​ |
8,815 |
​ |
— |
​ |
10 |
​ |
Corporate and other |
​ |
Ìý |
3,020 |
Ìý |
34 |
Ìý |
— |
​ |
Total Formula One Group |
​ |
​ |
11,835 |
​ |
34 |
​ |
10 |
​ |
Elimination (1) |
​ |
​ |
(538) |
​ |
— |
​ |
— |
​ |
Consolidated Â鶹×îгöÆ· |
​ |
$ |
44,419 |
Ìý |
1,016 |
Ìý |
280 |
​ |
|
(1) |
This amount is primarily comprised of the intergroup interests in the Braves Group held by the Formula One Group and the Â鶹×îгöÆ· SiriusXM Group and the intergroup interest in the Formula One Group held by the Â鶹×îгöÆ· SiriusXM Group. See note 2 for information regarding the intergroup interests. The Braves Group intergroup interests attributable to the Formula One Group and the Â鶹×îгöÆ· SiriusXM Group are presented as assets of the Formula One Group and Â鶹×îгöÆ· 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 Â鶹×îгöÆ· SiriusXM Group is presented as an asset of the Â鶹×îгöÆ· 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. |
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| Reconciliation of Adjusted OIBDA to operating income (loss) and earnings (loss) |
​
|
|
|
|
|
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|
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|
​ |
​ |
Three months ended |
​ |
Nine months ended |
​ |
​ |
​ |
September 30, |
​ |
September 30, |
​ |
​ |
ÌýÌýÌýÌý |
2021 |
ÌýÌýÌýÌý |
2020 |
ÌýÌýÌýÌý |
2021 |
ÌýÌýÌýÌý |
2020 |
Ìý |
|
​ |
​ |
amountsÌýinÌýmillions |
​ |
Adjusted OIBDA |
​ |
$ |
946 |
Ìý |
667 |
Ìý |
2,473 |
Ìý |
1,780 |
​ |
Impairment, restructuring and acquisition costs, net of recoveries (note 10) |
​ |
​ |
95 |
​ |
— |
​ |
(13) |
​ |
(24) |
​ |
Legal reserves |
​ |
​ |
— |
​ |
— |
​ |
— |
​ |
16 |
​ |
Stock-based compensation |
​ |
Ìý |
(65) |
Ìý |
(68) |
Ìý |
(188) |
Ìý |
(180) |
​ |
Depreciation and amortization |
​ |
Ìý |
(274) |
Ìý |
(279) |
Ìý |
(806) |
Ìý |
(812) |
​ |
Operating income (loss) |
​ |
​ |
702 |
​ |
320 |
​ |
1,466 |
​ |
780 |
​ |
Interest expense |
​ |
Ìý |
(168) |
Ìý |
(153) |
Ìý |
(484) |
Ìý |
(480) |
​ |
Share of earnings (losses) of affiliates, net |
​ |
Ìý |
9 |
Ìý |
(187) |
Ìý |
(134) |
Ìý |
(442) |
​ |
Realized and unrealized gains (losses) on financial instruments, net |
​ |
Ìý |
(40) |
Ìý |
16 |
Ìý |
66 |
Ìý |
(163) |
​ |
Gains (losses) on dilution of investment in affiliate |
​ |
​ |
142 |
Ìý |
— |
Ìý |
152 |
Ìý |
1 |
​ |
Other, net |
​ |
Ìý |
(72) |
Ìý |
(32) |
Ìý |
(54) |
Ìý |
(2) |
​ |
Earnings (loss) before income taxes |
​ |
$ |
573 |
Ìý |
(36) |
Ìý |
1,012 |
Ìý |
(306) |
​ |
|