Â鶹×îгöÆ·

Annual report pursuant to Section 13 and 15(d)

Information About Â鶹×îгöÆ·'s Operating Segments (Tables)

v3.22.0.1
Information About Â鶹×îгöÆ·'s Operating Segments (Tables)
12 Months Ended
Dec. 31, 2021
Information About Â鶹×îгöÆ·'s Operating Segments Ìý
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

​

​

amountsÌýinÌýmillions

Ìý

Â鶹×îгöÆ· SiriusXM Group

​

​

​

​

​

​

​

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​

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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)

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—

​

—

​

Corporate and other

​

​

—

​

(15)

​

—

​

(31)

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—

​

(17)

​

​

​

​

14,964

​

3,079

​

8,517

​

1,653

​

7,794

​

2,436

​

Eliminate equity method affiliate

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​

(6,268)

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(324)

​

(477)

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891

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—

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—

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Total Â鶹×îгöÆ· SiriusXM Group

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​

8,696

​

2,755

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8,040

​

2,544

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7,794

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2,436

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Braves Group

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​

​

​

​

​

​

​

​

​

​

​

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Corporate and other

​

Ìý

568

Ìý

104

Ìý

178

Ìý

(53)

Ìý

476

Ìý

49

​

Total Braves Group

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​

568

​

104

​

178

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(53)

​

476

​

49

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Formula One Group

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​

​

​

​

​

​

​

​

​

​

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Formula 1

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​

2,136

​

495

​

1,145

​

56

​

2,022

​

482

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Live Nation

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​

NA

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NA

​

1,384

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(125)

​

11,548

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943

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Corporate and other

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—

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(29)

​

—

​

(38)

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—

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(36)

​

​

​

​

2,136

​

466

​

2,529

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(107)

​

13,570

​

1,389

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Eliminate equity method affiliate

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​

NA

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NA

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(1,384)

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125

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(11,548)

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(943)

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Total Formula One Group

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​

2,136

​

466

​

1,145

​

18

​

2,022

​

446

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Total

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$

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

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assets

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inÌýaffiliates

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expenditures

Ìý

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​

amountsÌýinÌýmillions

Ìý

Â鶹×îгöÆ· SiriusXM Group

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​

​

​

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​

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Sirius XM Holdings

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$

29,812

Ìý

716

Ìý

388

Ìý

30,030

Ìý

723

Ìý

350

​

Live Nation

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​

14,402

​

294

​

176

​

10,589

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170

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223

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Corporate and other

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​

1,862

​

89

​

—

​

2,051

​

163

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—

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​

​

​

46,076

​

1,099

​

564

​

42,670

​

1,056

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573

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Eliminate equity method affiliate

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(14,402)

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(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

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805

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388

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32,081

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886

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350

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Braves Group

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​

​

​

​

​

​

​

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Corporate and other

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​

1,636

​

110

​

35

​

1,571

​

94

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81

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Total Braves Group

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1,636

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110

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35

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1,571

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94

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81

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Formula One Group

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​

​

​

​

​

​

​

​

​

​

​

​

​

Formula 1

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​

8,819

Ìý

—

Ìý

17

​

8,610

Ìý

—

Ìý

11

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Corporate and other

​

Ìý

2,845

Ìý

30

Ìý

—

Ìý

2,581

Ìý

38

Ìý

10

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Total Formula One Group

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11,664

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30

​

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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—

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(839)

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—

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—

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Consolidated Â鶹×îгöÆ·

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$

44,351

Ìý

945

Ìý

440

Ìý

44,004

Ìý

1,018

Ìý

452

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(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.

Reconciliation of Adjusted OIBDA to operating income (loss) and earnings (loss)

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YearsÌýendedÌýDecemberÌý31,

Ìý

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ÌýÌýÌýÌý

2021

ÌýÌýÌýÌý

2020

ÌýÌýÌýÌý

2019

Ìý

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​

amounts in millions

Ìý

Adjusted OIBDA

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$

3,325

Ìý

2,509

Ìý

2,931

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Litigation settlements and reserves (note 18)

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—

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16

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(25)

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Stock-based compensation

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Ìý

(256)

Ìý

(261)

Ìý

(291)

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

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(20)

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(1,004)

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(84)

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Depreciation and amortization

​

Ìý

(1,072)

Ìý

(1,083)

Ìý

(1,061)

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Operating income (loss)

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​

1,977

​

177

​

1,470

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Interest expense

​

Ìý

(642)

Ìý

(634)

Ìý

(657)

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Share of earnings (losses) of affiliates, net

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Ìý

(200)

Ìý

(586)

Ìý

6

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

​

Ìý

(451)

Ìý

(402)

Ìý

(315)

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Gains (losses) on dilution of investment in affiliate

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​

152

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4

​

7

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Other, net

​

Ìý

(47)

Ìý

6

Ìý

2

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Earnings (loss) from continuing operations before income taxes

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$

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

​

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amountsÌýinÌýmillions

Ìý

United States

​

$

9,163

Ìý

8,121

Ìý

8,172

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United Kingdom

​

Ìý

2,136

Ìý

1,145

Ìý

2,022

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Other

​

​

101

​

97

​

98

​

​

​

$

11,400

Ìý

9,363

Ìý

10,292

​

Long-lived Assets by Geographic Area

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​

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DecemberÌý31,

Ìý

​

ÌýÌýÌýÌý

2021

ÌýÌýÌýÌý

2020

Ìý

​

​

amountsÌýinÌýmillions

Ìý

United States

​

$

1,984

Ìý

2,221

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United Kingdom

​

Ìý

26

Ìý

18

​

​

​

$

2,010

Ìý

2,239

​