Financial Information for Tracking Stock Groups (Tables)
|
3 Months Ended |
Mar. 31, 2023 |
|---|
| Condensed Balance Sheets |
BALANCE SHEET INFORMATION
March 31, 2023
(unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
​ |
​ |
​ |
Attributed (note 1) |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Â鶹×îгöÆ· |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
SiriusXM |
​ |
Braves |
​ |
Formula One |
​ |
Inter-Group |
​ |
Consolidated |
​ |
​ |
ÌýÌýÌýÌý |
Group |
​ |
Group |
​ |
Group |
​ |
Eliminations |
​ |
Â鶹×îгöÆ· |
ÌýÌýÌýÌý |
|
​ |
​ |
²¹³¾´Ç³Ü²Ô³Ù²õÌý¾±²ÔÌý³¾¾±±ô±ô¾±´Ç²Ô²õ |
​ |
Assets |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Current assets: |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Cash and cash equivalents |
​ |
$ |
430 |
​ |
215 |
​ |
1,584 |
​ |
— |
​ |
2,229 |
Ìý |
Trade and other receivables, net |
​ |
Ìý |
587 |
​ |
23 |
​ |
91 |
​ |
— |
​ |
701 |
Ìý |
Other current assets |
​ |
Ìý |
366 |
​ |
62 |
​ |
278 |
​ |
— |
​ |
706 |
Ìý |
Total current assets |
​ |
Ìý |
1,383 |
​ |
300 |
​ |
1,953 |
​ |
— |
​ |
3,636 |
Ìý |
Intergroup interests (note 1) |
​ |
​ |
134 |
​ |
— |
​ |
228 |
​ |
(362) |
​ |
— |
​ |
Investments in affiliates, accounted for using the equity method (noteÌý1) |
​ |
Ìý |
862 |
​ |
94 |
​ |
37 |
​ |
— |
​ |
993 |
Ìý |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Property and equipment, at cost |
​ |
Ìý |
2,926 |
​ |
1,021 |
​ |
616 |
​ |
— |
​ |
4,563 |
Ìý |
Accumulated depreciation |
​ |
Ìý |
(1,742) |
​ |
(292) |
​ |
(112) |
​ |
— |
​ |
(2,146) |
Ìý |
​ |
​ |
Ìý |
1,184 |
​ |
729 |
​ |
504 |
​ |
— |
​ |
2,417 |
Ìý |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Intangible assets not subject to amortization |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Goodwill |
​ |
Ìý |
15,209 |
​ |
176 |
​ |
3,956 |
​ |
— |
​ |
19,341 |
Ìý |
FCC licenses |
​ |
Ìý |
8,600 |
​ |
— |
​ |
— |
​ |
— |
​ |
8,600 |
Ìý |
Other |
​ |
Ìý |
1,242 |
​ |
124 |
​ |
— |
​ |
— |
​ |
1,366 |
Ìý |
​ |
​ |
Ìý |
25,051 |
​ |
300 |
​ |
3,956 |
​ |
— |
​ |
29,307 |
Ìý |
Intangible assets subject to amortization, net |
​ |
Ìý |
1,060 |
​ |
28 |
​ |
3,083 |
​ |
— |
​ |
4,171 |
Ìý |
Other assets |
​ |
Ìý |
529 |
​ |
67 |
​ |
1,217 |
​ |
(4) |
​ |
1,809 |
Ìý |
Total assets |
​ |
$ |
30,203 |
​ |
1,518 |
​ |
10,978 |
​ |
(366) |
​ |
42,333 |
Ìý |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Liabilities and Equity |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Current liabilities: |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Intergroup payable (receivable) (note 3) |
​ |
$ |
35 |
​ |
(2) |
​ |
(33) |
​ |
— |
​ |
— |
​ |
Accounts payable and accrued liabilities |
​ |
​ |
1,229 |
Ìý |
66 |
​ |
318 |
​ |
— |
​ |
1,613 |
​ |
Current portion of debt |
​ |
​ |
608 |
​ |
75 |
​ |
23 |
​ |
— |
​ |
706 |
​ |
Deferred revenue |
​ |
Ìý |
1,307 |
Ìý |
191 |
​ |
655 |
​ |
— |
​ |
2,153 |
​ |
Other current liabilities |
​ |
Ìý |
80 |
Ìý |
5 |
​ |
35 |
​ |
— |
​ |
120 |
​ |
Total current liabilities |
​ |
Ìý |
3,259 |
Ìý |
335 |
​ |
998 |
​ |
— |
​ |
4,592 |
​ |
Long-term debt (note 1) |
​ |
Ìý |
12,292 |
Ìý |
463 |
​ |
2,935 |
​ |
— |
​ |
15,690 |
​ |
Deferred income tax liabilities |
​ |
Ìý |
2,046 |
Ìý |
46 |
​ |
— |
​ |
(4) |
​ |
2,088 |
​ |
Redeemable intergroup interests (note 1) |
​ |
​ |
— |
​ |
291 |
​ |
71 |
​ |
(362) |
​ |
— |
​ |
Other liabilities |
​ |
Ìý |
596 |
Ìý |
147 |
​ |
136 |
​ |
— |
​ |
879 |
​ |
Total liabilities |
​ |
Ìý |
18,193 |
Ìý |
1,282 |
​ |
4,140 |
​ |
(366) |
​ |
23,249 |
​ |
Equity / Attributed net assets |
​ |
Ìý |
8,920 |
Ìý |
229 |
​ |
6,813 |
​ |
— |
​ |
15,962 |
​ |
Noncontrolling interests in equity of subsidiaries |
​ |
Ìý |
3,090 |
Ìý |
7 |
​ |
25 |
​ |
— |
​ |
3,122 |
​ |
Total liabilities and equity |
​ |
$ |
30,203 |
Ìý |
1,518 |
​ |
10,978 |
​ |
(366) |
​ |
42,333 |
​ |
|
| Condensed Statement of Operations |
STATEMENT OF OPERATIONS INFORMATION
Three months ended March 31, 2023
(unaudited)
​
|
|
|
|
|
|
|
|
|
|
|
​ |
​ |
​ |
Attributed (note 1) |
​ |
​ |
​ |
​ |
​ |
Â鶹×îгöÆ· |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
SiriusXM |
​ |
Braves |
​ |
Formula One |
​ |
Consolidated |
​ |
​ |
​ |
Group |
​ |
Group |
​ |
Group |
​ |
Â鶹×îгöÆ· |
​ |
|
​ |
​ |
amounts in millions |
​ |
Revenue: |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Sirius XM Holdings revenue |
​ |
$ |
2,144 |
Ìý |
— |
​ |
— |
​ |
2,144 |
​ |
Formula 1 revenue |
​ |
​ |
— |
​ |
— |
​ |
381 |
​ |
381 |
​ |
Other revenue |
​ |
Ìý |
— |
Ìý |
31 |
​ |
— |
​ |
31 |
​ |
Total revenue |
​ |
Ìý |
2,144 |
Ìý |
31 |
​ |
381 |
​ |
2,556 |
​ |
Operating costs and expenses, including stock-based compensation (note 2): |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Cost of Sirius XM Holdings services (exclusive of depreciation shown separately below): |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Revenue share and royalties |
​ |
Ìý |
700 |
Ìý |
— |
​ |
— |
​ |
700 |
​ |
Programming and content |
​ |
Ìý |
150 |
Ìý |
— |
​ |
— |
​ |
150 |
​ |
Customer service and billing |
​ |
Ìý |
122 |
Ìý |
— |
​ |
— |
​ |
122 |
​ |
Other |
​ |
Ìý |
52 |
Ìý |
— |
​ |
— |
​ |
52 |
​ |
Cost of Formula 1 revenue (exclusive of depreciation shown separately below) |
​ |
​ |
— |
​ |
— |
​ |
206 |
​ |
206 |
​ |
Subscriber acquisition costs |
​ |
Ìý |
90 |
Ìý |
— |
​ |
— |
​ |
90 |
​ |
Other operating expenses |
​ |
Ìý |
79 |
Ìý |
39 |
​ |
— |
​ |
118 |
​ |
Selling, general and administrative |
​ |
Ìý |
385 |
Ìý |
26 |
​ |
75 |
​ |
486 |
​ |
Impairment, restructuring and acquisition costs, net of recoveries |
​ |
​ |
32 |
Ìý |
— |
​ |
— |
​ |
32 |
​ |
Depreciation and amortization |
​ |
Ìý |
161 |
Ìý |
15 |
​ |
84 |
​ |
260 |
​ |
​ |
​ |
Ìý |
1,771 |
Ìý |
80 |
​ |
365 |
​ |
2,216 |
​ |
Operating income (loss) |
​ |
Ìý |
373 |
Ìý |
(49) |
​ |
16 |
​ |
340 |
​ |
Other income (expense): |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Interest expense |
​ |
Ìý |
(136) |
Ìý |
(9) |
​ |
(51) |
​ |
(196) |
​ |
Share of earnings (losses) of affiliates, net |
​ |
Ìý |
(7) |
Ìý |
(1) |
​ |
(2) |
​ |
(10) |
​ |
Realized and unrealized gains (losses) on financial instruments, net |
​ |
Ìý |
2 |
Ìý |
(1) |
​ |
(47) |
​ |
(46) |
​ |
Unrealized gains (losses) on intergroup interests (note 1) |
​ |
​ |
54 |
​ |
(13) |
​ |
(41) |
​ |
— |
​ |
Other, net |
​ |
Ìý |
3 |
Ìý |
1 |
​ |
10 |
​ |
14 |
​ |
​ |
​ |
Ìý |
(84) |
Ìý |
(23) |
​ |
(131) |
​ |
(238) |
​ |
Earnings (loss) before income taxes |
​ |
Ìý |
289 |
Ìý |
(72) |
​ |
(115) |
​ |
102 |
​ |
Income tax (expense) benefit |
​ |
Ìý |
(69) |
Ìý |
13 |
​ |
6 |
​ |
(50) |
​ |
Net earnings (loss) |
​ |
Ìý |
220 |
Ìý |
(59) |
​ |
(109) |
​ |
52 |
​ |
Less net earnings (loss) attributable to the noncontrolling interests |
​ |
Ìý |
37 |
Ìý |
— |
​ |
— |
​ |
37 |
​ |
Net earnings (loss) attributable to Â鶹×îгöÆ· stockholders |
​ |
$ |
183 |
Ìý |
(59) |
​ |
(109) |
​ |
15 |
​ |
​
STATEMENT OF OPERATIONS INFORMATION
Three months ended March 31, 2022
(unaudited)
​
|
|
|
|
|
|
|
|
|
|
|
​ |
​ |
​ |
Attributed (note 1) |
​ |
​ |
​ |
​ |
​ |
Â鶹×îгöÆ· |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
SiriusXM |
​ |
Braves |
​ |
Formula One |
​ |
Consolidated |
​ |
​ |
​ |
Group |
​ |
Group |
​ |
Group |
​ |
Â鶹×îгöÆ· |
​ |
|
​ |
​ |
amounts in millions |
​ |
Revenue: |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Sirius XM Holdings revenue |
​ |
$ |
2,186 |
Ìý |
— |
​ |
— |
​ |
2,186 |
​ |
Formula 1 revenue |
​ |
​ |
— |
​ |
— |
​ |
360 |
​ |
360 |
​ |
Other revenue |
​ |
Ìý |
— |
Ìý |
23 |
​ |
— |
​ |
23 |
​ |
Total revenue |
​ |
Ìý |
2,186 |
Ìý |
23 |
​ |
360 |
​ |
2,569 |
​ |
Operating costs and expenses, including stock-based compensation (note 2): |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Cost of Sirius XM Holdings services (exclusive of depreciation shown separately below): |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Revenue share and royalties |
​ |
Ìý |
670 |
Ìý |
— |
​ |
— |
​ |
670 |
​ |
Programming and content |
​ |
Ìý |
140 |
Ìý |
— |
​ |
— |
​ |
140 |
​ |
Customer service and billing |
​ |
Ìý |
125 |
Ìý |
— |
​ |
— |
​ |
125 |
​ |
Other |
​ |
Ìý |
54 |
Ìý |
— |
​ |
— |
​ |
54 |
​ |
Cost of Formula 1 revenue (exclusive of depreciation shown separately below) |
​ |
​ |
— |
​ |
— |
​ |
195 |
​ |
195 |
​ |
Subscriber acquisition costs |
​ |
Ìý |
90 |
Ìý |
— |
​ |
— |
​ |
90 |
​ |
Other operating expenses |
​ |
Ìý |
67 |
Ìý |
23 |
​ |
— |
​ |
90 |
​ |
Selling, general and administrative |
​ |
Ìý |
404 |
Ìý |
22 |
​ |
56 |
​ |
482 |
​ |
Depreciation and amortization |
​ |
Ìý |
152 |
Ìý |
18 |
​ |
90 |
​ |
260 |
​ |
​ |
​ |
Ìý |
1,702 |
Ìý |
63 |
​ |
341 |
​ |
2,106 |
​ |
Operating income (loss) |
​ |
Ìý |
484 |
Ìý |
(40) |
​ |
19 |
​ |
463 |
​ |
Other income (expense): |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Interest expense |
​ |
Ìý |
(122) |
Ìý |
(6) |
​ |
(29) |
​ |
(157) |
​ |
Share of earnings (losses) of affiliates, net |
​ |
Ìý |
(18) |
Ìý |
4 |
​ |
— |
​ |
(14) |
​ |
Realized and unrealized gains (losses) on financial instruments, net |
​ |
Ìý |
61 |
Ìý |
5 |
​ |
(7) |
​ |
59 |
​ |
Unrealized gains (losses) on intergroup interests (note 1) |
​ |
​ |
20 |
​ |
1 |
​ |
(21) |
​ |
— |
​ |
Other, net |
​ |
Ìý |
20 |
Ìý |
20 |
​ |
5 |
​ |
45 |
​ |
​ |
​ |
Ìý |
(39) |
Ìý |
24 |
​ |
(52) |
​ |
(67) |
​ |
Earnings (loss) before income taxes |
​ |
Ìý |
445 |
Ìý |
(16) |
​ |
(33) |
​ |
396 |
​ |
Income tax (expense) benefit |
​ |
Ìý |
(101) |
Ìý |
3 |
​ |
(2) |
​ |
(100) |
​ |
Net earnings (loss) |
​ |
Ìý |
344 |
Ìý |
(13) |
​ |
(35) |
​ |
296 |
​ |
Less net earnings (loss) attributable to the noncontrolling interests |
​ |
Ìý |
56 |
Ìý |
— |
​ |
9 |
​ |
65 |
​ |
Less net earnings (loss) attributable to redeemable noncontrolling interest |
​ |
​ |
— |
​ |
— |
​ |
(9) |
​ |
(9) |
​ |
Net earnings (loss) attributable to Â鶹×îгöÆ· stockholders |
​ |
$ |
288 |
Ìý |
(13) |
​ |
(35) |
​ |
240 |
​ |
​
|
| Condensed Statement of Cash Flows |
STATEMENT OF CASH FLOWS INFORMATION
Three months ended March 31, 2023
(unaudited)
​
|
|
|
|
|
|
|
|
|
|
|
​ |
​ |
​ |
Attributed (note 1) |
​ |
​ |
​ |
​ |
​ |
Â鶹×îгöÆ· |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
SiriusXM |
​ |
Braves |
​ |
Formula One |
​ |
Consolidated |
​ |
​ |
​ |
Group |
​ |
Group |
​ |
Group |
​ |
Â鶹×îгöÆ· |
​ |
|
​ |
​ |
²¹³¾´Ç³Ü²Ô³Ù²õÌý¾±²ÔÌý³¾¾±±ô±ô¾±´Ç²Ô²õ |
​ |
Cash flows from operating activities: |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Net earnings (loss) |
​ |
$ |
220 |
Ìý |
(59) |
​ |
(109) |
​ |
52 |
​ |
Adjustments to reconcile net earnings (loss) to net cash provided by operating activities: |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Depreciation and amortization |
​ |
Ìý |
161 |
Ìý |
15 |
​ |
84 |
​ |
260 |
​ |
Stock-based compensation |
​ |
Ìý |
48 |
Ìý |
3 |
​ |
5 |
​ |
56 |
​ |
Non-cash impairment and restructuring costs |
​ |
​ |
8 |
Ìý |
— |
​ |
— |
​ |
8 |
​ |
Share of (earnings) loss of affiliates, net |
​ |
Ìý |
7 |
Ìý |
1 |
​ |
2 |
​ |
10 |
​ |
Unrealized (gains) losses on intergroup interests, net |
​ |
​ |
(54) |
​ |
13 |
​ |
41 |
​ |
— |
​ |
Realized and unrealized (gains) losses on financial instruments, net |
​ |
Ìý |
(2) |
Ìý |
1 |
​ |
47 |
​ |
46 |
​ |
Deferred income tax expense (benefit) |
​ |
Ìý |
7 |
Ìý |
(8) |
​ |
(5) |
​ |
(6) |
​ |
Intergroup tax allocation |
​ |
​ |
31 |
​ |
(5) |
​ |
(26) |
​ |
— |
​ |
Other charges (credits), net |
​ |
Ìý |
4 |
Ìý |
1 |
​ |
(3) |
​ |
2 |
​ |
Changes in operating assets and liabilities |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Current and other assets |
​ |
Ìý |
46 |
Ìý |
27 |
​ |
(8) |
​ |
65 |
​ |
Payables and other liabilities |
​ |
Ìý |
(157) |
Ìý |
96 |
​ |
229 |
​ |
168 |
​ |
Net cash provided (used) by operating activities |
​ |
Ìý |
319 |
Ìý |
85 |
​ |
257 |
​ |
661 |
​ |
Cash flows from investing activities: |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Investments in equity method affiliates and debt and equity securities |
​ |
Ìý |
(39) |
Ìý |
— |
​ |
(130) |
​ |
(169) |
​ |
Cash proceeds from dispositions |
​ |
​ |
— |
​ |
— |
​ |
34 |
​ |
34 |
​ |
Capital expended for property and equipment, including internal-use software and website development |
​ |
Ìý |
(205) |
Ìý |
(14) |
​ |
(62) |
​ |
(281) |
​ |
Other investing activities, net |
​ |
Ìý |
2 |
Ìý |
— |
​ |
(1) |
​ |
1 |
​ |
Net cash provided (used) by investing activities |
​ |
Ìý |
(242) |
Ìý |
(14) |
​ |
(159) |
​ |
(415) |
​ |
Cash flows from financing activities: |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Borrowings of debt |
​ |
Ìý |
1,479 |
Ìý |
— |
​ |
— |
​ |
1,479 |
​ |
Repayments of debt |
​ |
Ìý |
(1,633) |
Ìý |
(4) |
​ |
(53) |
​ |
(1,690) |
​ |
Intergroup (repayments) borrowings |
​ |
​ |
202 |
​ |
— |
​ |
(202) |
​ |
— |
​ |
Subsidiary shares repurchased by subsidiary |
​ |
Ìý |
(62) |
Ìý |
— |
​ |
— |
​ |
(62) |
​ |
Cash dividends paid by subsidiary |
​ |
​ |
(17) |
​ |
— |
​ |
— |
​ |
(17) |
​ |
Taxes paid in lieu of shares issued for stock-based compensation |
​ |
Ìý |
(15) |
Ìý |
(1) |
​ |
(8) |
​ |
(24) |
​ |
Other financing activities, net |
​ |
​ |
37 |
​ |
6 |
​ |
14 |
​ |
57 |
​ |
Net cash provided (used) by financing activities |
​ |
Ìý |
(9) |
Ìý |
1 |
​ |
(249) |
​ |
(257) |
​ |
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash |
​ |
​ |
— |
​ |
— |
​ |
2 |
​ |
2 |
​ |
Net increase (decrease) in cash, cash equivalents and restricted cash |
​ |
Ìý |
68 |
Ìý |
72 |
​ |
(149) |
​ |
(9) |
​ |
Cash, cash equivalents and restricted cash at beginning of period |
​ |
Ìý |
370 |
Ìý |
173 |
​ |
1,733 |
​ |
2,276 |
​ |
Cash, cash equivalents and restricted cash at end of period |
​ |
$ |
438 |
Ìý |
245 |
​ |
1,584 |
​ |
2,267 |
​ |
​
STATEMENT OF CASH FLOWS INFORMATION
Three months ended March 31, 2022
(unaudited)
​
|
|
|
|
|
|
|
|
|
|
|
​ |
​ |
​ |
Attributed (note 1) |
​ |
​ |
​ |
​ |
​ |
Â鶹×îгöÆ· |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
SiriusXM |
​ |
Braves |
​ |
Formula One |
​ |
Consolidated |
​ |
​ |
​ |
Group |
​ |
Group |
​ |
Group |
​ |
Â鶹×îгöÆ· |
​ |
|
​ |
​ |
²¹³¾´Ç³Ü²Ô³Ù²õÌý¾±²ÔÌý³¾¾±±ô±ô¾±´Ç²Ô²õ |
​ |
Cash flows from operating activities: |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Net earnings (loss) |
​ |
$ |
344 |
Ìý |
(13) |
​ |
(35) |
​ |
296 |
​ |
Adjustments to reconcile net earnings (loss) to net cash provided by operating activities: |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Depreciation and amortization |
​ |
Ìý |
152 |
Ìý |
18 |
​ |
90 |
​ |
260 |
​ |
Stock-based compensation |
​ |
Ìý |
49 |
Ìý |
3 |
​ |
3 |
​ |
55 |
​ |
Share of (earnings) loss of affiliates, net |
​ |
Ìý |
18 |
Ìý |
(4) |
​ |
— |
​ |
14 |
​ |
Unrealized (gains) losses on intergroup interests, net |
​ |
​ |
(20) |
​ |
(1) |
​ |
21 |
​ |
— |
​ |
Realized and unrealized (gains) losses on financial instruments, net |
​ |
Ìý |
(61) |
Ìý |
(5) |
​ |
7 |
​ |
(59) |
​ |
Deferred income tax expense (benefit) |
​ |
Ìý |
39 |
Ìý |
(10) |
​ |
26 |
​ |
55 |
​ |
Intergroup tax allocation |
​ |
​ |
42 |
​ |
7 |
​ |
(49) |
​ |
— |
​ |
Other charges (credits), net |
​ |
Ìý |
(11) |
Ìý |
(20) |
​ |
(2) |
​ |
(33) |
​ |
Changes in operating assets and liabilities |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Current and other assets |
​ |
Ìý |
21 |
Ìý |
23 |
​ |
(158) |
​ |
(114) |
​ |
Payables and other liabilities |
​ |
Ìý |
(238) |
Ìý |
83 |
​ |
232 |
​ |
77 |
​ |
Net cash provided (used) by operating activities |
​ |
Ìý |
335 |
Ìý |
81 |
​ |
135 |
​ |
551 |
​ |
Cash flows from investing activities: |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Investments in equity method affiliates and debt and equity securities |
​ |
Ìý |
(1) |
Ìý |
(5) |
​ |
(3) |
​ |
(9) |
​ |
Cash proceeds from dispositions |
​ |
​ |
50 |
​ |
47 |
​ |
— |
​ |
97 |
​ |
Capital expended for property and equipment, including internal-use software and website development |
​ |
Ìý |
(97) |
Ìý |
(4) |
​ |
(10) |
​ |
(111) |
​ |
Other investing activities, net |
​ |
Ìý |
(42) |
Ìý |
— |
​ |
76 |
​ |
34 |
​ |
Net cash provided (used) by investing activities |
​ |
Ìý |
(90) |
Ìý |
38 |
​ |
63 |
​ |
11 |
​ |
Cash flows from financing activities: |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Borrowings of debt |
​ |
Ìý |
1,740 |
Ìý |
15 |
​ |
— |
​ |
1,755 |
​ |
Repayments of debt |
​ |
Ìý |
(1,204) |
Ìý |
(37) |
​ |
(1) |
​ |
(1,242) |
​ |
Â鶹×îгöÆ· stock repurchases |
​ |
​ |
(202) |
​ |
— |
​ |
(37) |
​ |
(239) |
​ |
Subsidiary shares repurchased by subsidiary |
​ |
Ìý |
(206) |
Ìý |
— |
​ |
— |
​ |
(206) |
​ |
Cash dividends paid by subsidiary |
​ |
​ |
(201) |
​ |
— |
​ |
— |
​ |
(201) |
​ |
Taxes paid in lieu of shares issued for stock-based compensation |
​ |
Ìý |
(61) |
Ìý |
— |
​ |
26 |
​ |
(35) |
​ |
Other financing activities, net |
​ |
​ |
1 |
​ |
(4) |
​ |
7 |
​ |
4 |
​ |
Net cash provided (used) by financing activities |
​ |
Ìý |
(133) |
Ìý |
(26) |
​ |
(5) |
​ |
(164) |
​ |
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash |
​ |
​ |
— |
​ |
— |
​ |
(2) |
​ |
(2) |
​ |
Net increase (decrease) in cash, cash equivalents and restricted cash |
​ |
Ìý |
112 |
Ìý |
93 |
​ |
191 |
​ |
396 |
​ |
Cash, cash equivalents and restricted cash at beginning of period |
​ |
Ìý |
606 |
Ìý |
244 |
​ |
2,074 |
​ |
2,924 |
​ |
Cash, cash equivalents and restricted cash at end of period |
​ |
$ |
718 |
Ìý |
337 |
​ |
2,265 |
​ |
3,320 |
​ |
|