Information About Â鶹×îгöÆ·'s Operating Segments (Tables)
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12 Months Ended |
Dec. 31, 2021 |
Information About Â鶹×îгöÆ·'s Operating Segments |
Ìý
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Performance Measures |
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YearsÌýendedÌýDecemberÌý31, |
Ìý |
​ |
​ |
2021 |
​ |
2020 |
​ |
2019 |
Ìý |
​ |
ÌýÌýÌýÌý |
​ |
​ |
ÌýÌýÌýÌý |
Adjusted |
ÌýÌýÌýÌý |
​ |
ÌýÌýÌýÌý |
Adjusted |
ÌýÌýÌýÌý |
​ |
ÌýÌýÌýÌý |
Adjusted |
Ìý |
​ |
​ |
Revenue |
​ |
OIBDA |
​ |
Revenue |
​ |
OIBDA |
​ |
Revenue |
​ |
OIBDA |
Ìý |
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​ |
​ |
amountsÌýinÌýmillions |
Ìý |
Â鶹×îгöÆ· SiriusXM Group |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Sirius XM Holdings |
​ |
$ |
8,696 |
Ìý |
2,770 |
Ìý |
8,040 |
Ìý |
2,575 |
Ìý |
7,794 |
Ìý |
2,453 |
​ |
Live Nation |
​ |
​ |
6,268 |
​ |
324 |
​ |
477 |
​ |
(891) |
​ |
— |
​ |
— |
​ |
Corporate and other |
​ |
​ |
— |
​ |
(15) |
​ |
— |
​ |
(31) |
​ |
— |
​ |
(17) |
​ |
​ |
​ |
​ |
14,964 |
​ |
3,079 |
​ |
8,517 |
​ |
1,653 |
​ |
7,794 |
​ |
2,436 |
​ |
Eliminate equity method affiliate |
​ |
​ |
(6,268) |
​ |
(324) |
​ |
(477) |
​ |
891 |
​ |
— |
​ |
— |
​ |
Total Â鶹×îгöÆ· SiriusXM Group |
​ |
​ |
8,696 |
​ |
2,755 |
​ |
8,040 |
​ |
2,544 |
​ |
7,794 |
​ |
2,436 |
​ |
Braves Group |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Corporate and other |
​ |
Ìý |
568 |
Ìý |
104 |
Ìý |
178 |
Ìý |
(53) |
Ìý |
476 |
Ìý |
49 |
​ |
Total Braves Group |
​ |
​ |
568 |
​ |
104 |
​ |
178 |
​ |
(53) |
​ |
476 |
​ |
49 |
​ |
Formula One Group |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Formula 1 |
​ |
​ |
2,136 |
​ |
495 |
​ |
1,145 |
​ |
56 |
​ |
2,022 |
​ |
482 |
​ |
Live Nation |
​ |
​ |
NA |
​ |
NA |
​ |
1,384 |
​ |
(125) |
​ |
11,548 |
​ |
943 |
​ |
Corporate and other |
​ |
​ |
— |
​ |
(29) |
​ |
— |
​ |
(38) |
​ |
— |
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(36) |
​ |
​ |
​ |
​ |
2,136 |
​ |
466 |
​ |
2,529 |
​ |
(107) |
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13,570 |
​ |
1,389 |
​ |
Eliminate equity method affiliate |
​ |
​ |
NA |
​ |
NA |
​ |
(1,384) |
​ |
125 |
​ |
(11,548) |
​ |
(943) |
​ |
Total Formula One Group |
​ |
​ |
2,136 |
​ |
466 |
​ |
1,145 |
​ |
18 |
​ |
2,022 |
​ |
446 |
​ |
Total |
​ |
$ |
11,400 |
Ìý |
3,325 |
Ìý |
9,363 |
Ìý |
2,509 |
Ìý |
10,292 |
Ìý |
2,931 |
​ |
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Other Information By Segment |
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DecemberÌý31,Ìý2021 |
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DecemberÌý31,Ìý2020 |
Ìý |
​ |
ÌýÌýÌýÌý |
Total |
ÌýÌýÌýÌý |
Investments |
ÌýÌýÌýÌý |
Capital |
ÌýÌýÌýÌý |
Total |
ÌýÌýÌýÌý |
Investments |
ÌýÌýÌýÌý |
Capital |
Ìý |
​ |
​ |
assets |
​ |
inÌýaffiliates |
​ |
expenditures |
​ |
assets |
​ |
inÌýaffiliates |
​ |
expenditures |
Ìý |
|
​ |
​ |
amountsÌýinÌýmillions |
Ìý |
Â鶹×îгöÆ· SiriusXM Group |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Sirius XM Holdings |
​ |
$ |
29,812 |
Ìý |
716 |
Ìý |
388 |
Ìý |
30,030 |
Ìý |
723 |
Ìý |
350 |
​ |
Live Nation |
​ |
​ |
14,402 |
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294 |
​ |
176 |
​ |
10,589 |
​ |
170 |
​ |
223 |
​ |
Corporate and other |
​ |
​ |
1,862 |
​ |
89 |
​ |
— |
​ |
2,051 |
​ |
163 |
​ |
— |
​ |
​ |
​ |
​ |
46,076 |
​ |
1,099 |
​ |
564 |
​ |
42,670 |
​ |
1,056 |
​ |
573 |
​ |
Eliminate equity method affiliate |
​ |
​ |
(14,402) |
​ |
(294) |
​ |
(176) |
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(10,589) |
​ |
(170) |
​ |
(223) |
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Total Â鶹×îгöÆ· SiriusXM Group |
​ |
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31,674 |
​ |
805 |
​ |
388 |
​ |
32,081 |
​ |
886 |
​ |
350 |
​ |
Braves Group |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Corporate and other |
​ |
​ |
1,636 |
​ |
110 |
​ |
35 |
​ |
1,571 |
​ |
94 |
​ |
81 |
​ |
Total Braves Group |
​ |
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1,636 |
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110 |
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35 |
​ |
1,571 |
​ |
94 |
​ |
81 |
​ |
Formula One Group |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Formula 1 |
​ |
​ |
8,819 |
Ìý |
— |
Ìý |
17 |
​ |
8,610 |
Ìý |
— |
Ìý |
11 |
​ |
Corporate and other |
​ |
Ìý |
2,845 |
Ìý |
30 |
Ìý |
— |
Ìý |
2,581 |
Ìý |
38 |
Ìý |
10 |
​ |
Total Formula One Group |
​ |
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11,664 |
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30 |
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17 |
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11,191 |
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38 |
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21 |
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Elimination (1) |
​ |
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(623) |
​ |
— |
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— |
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(839) |
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— |
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— |
​ |
Consolidated Â鶹×îгöÆ· |
​ |
$ |
44,351 |
Ìý |
945 |
Ìý |
440 |
Ìý |
44,004 |
Ìý |
1,018 |
Ìý |
452 |
​ |
(1) |
As of December 31, 2021 and 2020, this amount includes 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, as discussed in note 2. 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. |
As of December 31, 2020, this amount was also comprised of the call spread between the Formula One Group and the Â鶹×îгöÆ· SiriusXM Group with respect to the Live Nation shares that were reattributed to the Â鶹×îгöÆ· SiriusXM Group. During the year ended December 31, 2021, the Â鶹×îгöÆ· SiriusXM Group paid approximately $384 million to the Formula One Group to settle its obligation under the call spread.
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Reconciliation of Adjusted OIBDA to operating income (loss) and earnings (loss) |
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YearsÌýendedÌýDecemberÌý31, |
Ìý |
​ |
ÌýÌýÌýÌý |
2021 |
ÌýÌýÌýÌý |
2020 |
ÌýÌýÌýÌý |
2019 |
Ìý |
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amounts in millions |
Ìý |
Adjusted OIBDA |
​ |
$ |
3,325 |
Ìý |
2,509 |
Ìý |
2,931 |
​ |
Litigation settlements and reserves (note 18) |
​ |
​ |
— |
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16 |
​ |
(25) |
​ |
Stock-based compensation |
​ |
Ìý |
(256) |
Ìý |
(261) |
Ìý |
(291) |
​ |
Impairment, restructuring and acquisition costs, net of recoveries (notes 5 and 8) |
​ |
​ |
(20) |
​ |
(1,004) |
​ |
(84) |
​ |
Depreciation and amortization |
​ |
Ìý |
(1,072) |
Ìý |
(1,083) |
Ìý |
(1,061) |
​ |
Operating income (loss) |
​ |
​ |
1,977 |
​ |
177 |
​ |
1,470 |
​ |
Interest expense |
​ |
Ìý |
(642) |
Ìý |
(634) |
Ìý |
(657) |
​ |
Share of earnings (losses) of affiliates, net |
​ |
Ìý |
(200) |
Ìý |
(586) |
Ìý |
6 |
​ |
Realized and unrealized gains (losses) on financial instruments, net |
​ |
Ìý |
(451) |
Ìý |
(402) |
Ìý |
(315) |
​ |
Gains (losses) on dilution of investment in affiliate |
​ |
​ |
152 |
​ |
4 |
​ |
7 |
​ |
Other, net |
​ |
Ìý |
(47) |
Ìý |
6 |
Ìý |
2 |
​ |
Earnings (loss) from continuing operations before income taxes |
​ |
$ |
789 |
Ìý |
(1,435) |
Ìý |
513 |
​ |
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Revenue by Geographic Area |
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​ |
​ |
YearsÌýendedÌýDecemberÌý31, |
Ìý |
​ |
ÌýÌýÌýÌý |
2021 |
ÌýÌýÌýÌý |
2020 |
ÌýÌýÌýÌý |
2019 |
Ìý |
|
​ |
​ |
amountsÌýinÌýmillions |
Ìý |
United States |
​ |
$ |
9,163 |
Ìý |
8,121 |
Ìý |
8,172 |
​ |
United Kingdom |
​ |
Ìý |
2,136 |
Ìý |
1,145 |
Ìý |
2,022 |
​ |
Other |
​ |
​ |
101 |
​ |
97 |
​ |
98 |
​ |
​ |
​ |
$ |
11,400 |
Ìý |
9,363 |
Ìý |
10,292 |
​ |
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Long-lived Assets by Geographic Area |
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​ |
​ |
DecemberÌý31, |
Ìý |
​ |
ÌýÌýÌýÌý |
2021 |
ÌýÌýÌýÌý |
2020 |
Ìý |
|
​ |
​ |
amountsÌýinÌýmillions |
Ìý |
United States |
​ |
$ |
1,984 |
Ìý |
2,221 |
​ |
United Kingdom |
​ |
Ìý |
26 |
Ìý |
18 |
​ |
​ |
​ |
$ |
2,010 |
Ìý |
2,239 |
​ |
|