Information About Â鶹×îгöÆ·'s Operating Segments (Tables)
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9 Months Ended |
Sep. 30, 2022 |
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| Information About Â鶹×îгöÆ·'s Operating Segments |
Ìý
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| Schedule of revenue disaggregated by source |
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Three months ended |
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Nine months ended |
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September 30, |
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September 30, |
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​ |
ÌýÌýÌýÌý |
2022 |
ÌýÌýÌýÌý |
2021 |
ÌýÌýÌýÌý |
2022 |
ÌýÌýÌýÌý |
2021 |
Ìý |
|
​ |
​ |
amountsÌýinÌýmillions |
​ |
Â鶹×îгöÆ· SiriusXM Group |
​ |
​ |
​ |
Ìý |
​ |
Ìý |
​ |
Ìý |
​ |
​ |
Sirius XM Holdings: |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Subscriber |
​ |
$ |
1,734 |
​ |
1,666 |
​ |
5,166 |
Ìý |
4,918 |
​ |
Advertising |
​ |
Ìý |
457 |
​ |
452 |
​ |
1,292 |
Ìý |
1,235 |
​ |
Equipment |
​ |
​ |
50 |
​ |
41 |
​ |
148 |
​ |
149 |
​ |
Other |
​ |
​ |
39 |
​ |
39 |
​ |
114 |
​ |
113 |
​ |
Total Â鶹×îгöÆ· SiriusXM Group |
​ |
​ |
2,280 |
​ |
2,198 |
​ |
6,720 |
​ |
6,415 |
​ |
Braves Group |
​ |
Ìý |
​ |
Ìý |
​ |
Ìý |
​ |
Ìý |
​ |
​ |
Corporate and other: |
​ |
Ìý |
​ |
Ìý |
​ |
Ìý |
​ |
Ìý |
​ |
​ |
Baseball |
​ |
Ìý |
238 |
Ìý |
222 |
Ìý |
496 |
Ìý |
433 |
​ |
Development |
​ |
Ìý |
14 |
Ìý |
12 |
Ìý |
39 |
Ìý |
33 |
​ |
Total Braves Group |
​ |
​ |
252 |
​ |
234 |
​ |
535 |
​ |
466 |
​ |
Formula One Group |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Formula 1: |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Primary |
​ |
​ |
624 |
​ |
612 |
​ |
1,539 |
​ |
1,235 |
​ |
Other |
​ |
​ |
91 |
​ |
56 |
​ |
280 |
​ |
114 |
​ |
Total Formula One Group |
​ |
​ |
715 |
​ |
668 |
​ |
1,819 |
​ |
1,349 |
​ |
Consolidated Â鶹×îгöÆ· |
​ |
$ |
3,247 |
​ |
3,100 |
Ìý |
9,074 |
Ìý |
8,230 |
​ |
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| Adjusted OIBDA by segment |
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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 |
2022 |
ÌýÌýÌýÌý |
2021 |
ÌýÌýÌýÌý |
2022 |
ÌýÌýÌýÌý |
2021 |
Ìý |
|
​ |
​ |
amountsÌýinÌýmillions |
​ |
Â鶹×îгöÆ· SiriusXM Group |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Sirius XM Holdings |
​ |
$ |
722 |
Ìý |
720 |
Ìý |
2,091 |
Ìý |
2,101 |
​ |
Live Nation |
​ |
​ |
621 |
​ |
306 |
​ |
1,309 |
​ |
164 |
​ |
Corporate and other |
​ |
Ìý |
(9) |
Ìý |
(5) |
Ìý |
(18) |
Ìý |
(12) |
​ |
​ |
​ |
​ |
1,334 |
​ |
1,021 |
​ |
3,382 |
​ |
2,253 |
​ |
Eliminate equity method affiliate |
​ |
​ |
(621) |
​ |
(306) |
​ |
(1,309) |
​ |
(164) |
​ |
Total Â鶹×îгöÆ· SiriusXM Group |
​ |
Ìý |
713 |
Ìý |
715 |
Ìý |
2,073 |
Ìý |
2,089 |
​ |
Braves Group |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Corporate and other |
​ |
Ìý |
38 |
Ìý |
55 |
Ìý |
74 |
Ìý |
86 |
​ |
Total Braves Group |
​ |
Ìý |
38 |
Ìý |
55 |
Ìý |
74 |
Ìý |
86 |
​ |
Formula One Group |
​ |
Ìý |
​ |
​ |
​ |
​ |
​ |
Ìý |
​ |
​ |
Formula 1 |
​ |
Ìý |
170 |
Ìý |
180 |
Ìý |
446 |
Ìý |
312 |
​ |
Corporate and other |
​ |
​ |
(12) |
​ |
(4) |
​ |
(30) |
​ |
(14) |
​ |
Total Formula One Group |
​ |
​ |
158 |
​ |
176 |
​ |
416 |
​ |
298 |
​ |
Consolidated Â鶹×îгöÆ· |
​ |
$ |
909 |
Ìý |
946 |
Ìý |
2,563 |
Ìý |
2,473 |
​ |
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| Other Information By Segment |
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September 30, 2022 |
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ÌýÌýÌýÌý |
Total |
ÌýÌýÌýÌý |
Investments |
ÌýÌýÌýÌý |
Capital |
Ìý |
​ |
​ |
assets |
​ |
inÌýaffiliates |
​ |
expenditures |
​ |
|
​ |
​ |
amountsÌýinÌýmillions |
​ |
Â鶹×îгöÆ· SiriusXM Group |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Sirius XM Holdings |
​ |
$ |
29,515 |
Ìý |
673 |
Ìý |
279 |
​ |
Live Nation |
​ |
​ |
15,787 |
​ |
356 |
​ |
176 |
​ |
Corporate and other |
​ |
​ |
914 |
​ |
212 |
​ |
— |
​ |
​ |
​ |
​ |
46,216 |
​ |
1,241 |
​ |
455 |
​ |
Eliminate equity method affiliate |
​ |
​ |
(15,787) |
​ |
(356) |
​ |
(176) |
​ |
Total Â鶹×îгöÆ· SiriusXM Group |
​ |
​ |
30,429 |
​ |
885 |
​ |
279 |
​ |
Braves Group |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Corporate and other |
​ |
​ |
1,534 |
​ |
114 |
​ |
13 |
​ |
Total Braves Group |
​ |
​ |
1,534 |
​ |
114 |
​ |
13 |
​ |
Formula One Group |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Formula 1 |
​ |
​ |
9,138 |
​ |
— |
​ |
11 |
​ |
Corporate and other |
​ |
Ìý |
2,593 |
Ìý |
29 |
Ìý |
252 |
​ |
Total Formula One Group |
​ |
​ |
11,731 |
​ |
29 |
​ |
263 |
​ |
Elimination (1) |
​ |
​ |
(459) |
​ |
— |
​ |
— |
​ |
Consolidated Â鶹×îгöÆ· |
​ |
$ |
43,235 |
Ìý |
1,028 |
Ìý |
555 |
​ |
|
(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) |
​
|
|
|
|
|
|
|
|
|
|
|
​ |
​ |
Three months ended |
​ |
Nine months ended |
​ |
​ |
​ |
September 30, |
​ |
September 30, |
​ |
​ |
ÌýÌýÌýÌý |
2022 |
ÌýÌýÌýÌý |
2021 |
ÌýÌýÌýÌý |
2022 |
ÌýÌýÌýÌý |
2021 |
Ìý |
|
​ |
​ |
amountsÌýinÌýmillions |
​ |
Adjusted OIBDA |
​ |
$ |
909 |
Ìý |
946 |
Ìý |
2,563 |
Ìý |
2,473 |
​ |
Impairment, restructuring and acquisition costs, net of recoveries (note 10) |
​ |
​ |
(74) |
​ |
95 |
​ |
(75) |
​ |
(13) |
​ |
Stock-based compensation |
​ |
Ìý |
(61) |
Ìý |
(65) |
Ìý |
(173) |
Ìý |
(188) |
​ |
Depreciation and amortization |
​ |
Ìý |
(268) |
Ìý |
(274) |
Ìý |
(790) |
Ìý |
(806) |
​ |
Operating income (loss) |
​ |
​ |
506 |
​ |
702 |
​ |
1,525 |
​ |
1,466 |
​ |
Interest expense |
​ |
Ìý |
(179) |
Ìý |
(168) |
Ìý |
(497) |
Ìý |
(484) |
​ |
Share of earnings (losses) of affiliates, net |
​ |
Ìý |
111 |
Ìý |
9 |
Ìý |
158 |
Ìý |
(134) |
​ |
Realized and unrealized gains (losses) on financial instruments, net |
​ |
Ìý |
106 |
Ìý |
(40) |
Ìý |
545 |
Ìý |
66 |
​ |
Gains (losses) on dilution of investment in affiliate |
​ |
​ |
2 |
Ìý |
142 |
Ìý |
9 |
Ìý |
152 |
​ |
Other, net |
​ |
Ìý |
18 |
Ìý |
(72) |
Ìý |
78 |
Ìý |
(54) |
​ |
Earnings (loss) before income taxes |
​ |
$ |
564 |
Ìý |
573 |
Ìý |
1,818 |
Ìý |
1,012 |
​ |
|