Information About Â鶹×îгöÆ·'s Operating Segments (Tables)
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12 Months Ended |
Dec. 31, 2023 |
Information About Â鶹×îгöÆ·'s Operating Segments |
Ìý
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Performance Measures |
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YearsÌýendedÌýDecemberÌý31, |
Ìý |
​ |
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2023 |
​ |
2022 |
​ |
2021 |
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 |
​ |
$ |
8,953 |
Ìý |
2,774 |
Ìý |
9,003 |
Ìý |
2,833 |
Ìý |
8,696 |
Ìý |
2,770 |
​ |
Live Nation |
​ |
​ |
11,475 |
​ |
1,188 |
​ |
16,681 |
​ |
1,407 |
​ |
6,268 |
​ |
324 |
​ |
Corporate and other |
​ |
​ |
— |
​ |
(42) |
​ |
— |
​ |
(26) |
​ |
— |
​ |
(15) |
​ |
Eliminate equity method affiliate |
​ |
​ |
(11,475) |
​ |
(1,188) |
​ |
(16,681) |
​ |
(1,407) |
​ |
(6,268) |
​ |
(324) |
​ |
Total Â鶹×îгöÆ· SiriusXM Group |
​ |
​ |
8,953 |
​ |
2,732 |
​ |
9,003 |
​ |
2,807 |
​ |
8,696 |
​ |
2,755 |
​ |
Formula One Group |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Formula 1 |
​ |
​ |
3,222 |
​ |
725 |
​ |
2,573 |
​ |
593 |
​ |
2,136 |
​ |
495 |
​ |
Corporate and other |
​ |
​ |
15 |
​ |
(39) |
​ |
— |
​ |
(42) |
​ |
— |
​ |
(29) |
​ |
Intergroup elimination |
​ |
​ |
(15) |
​ |
— |
​ |
— |
​ |
— |
​ |
— |
​ |
— |
​ |
Total Formula One Group |
​ |
​ |
3,222 |
​ |
686 |
​ |
2,573 |
​ |
551 |
​ |
2,136 |
​ |
466 |
​ |
Â鶹×îгöÆ· Live Group |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Live Nation |
​ |
​ |
11,274 |
​ |
674 |
​ |
NA |
​ |
NA |
​ |
NA |
​ |
NA |
​ |
Corporate and other |
​ |
​ |
— |
​ |
(9) |
​ |
NA |
​ |
NA |
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NA |
​ |
NA |
​ |
Eliminate equity method affiliate |
​ |
​ |
(11,274) |
​ |
(674) |
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NA |
​ |
NA |
​ |
NA |
​ |
NA |
​ |
Total Â鶹×îгöÆ· Live Group |
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— |
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(9) |
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NA |
​ |
NA |
​ |
NA |
​ |
NA |
​ |
Braves Group |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Corporate and other |
​ |
Ìý |
350 |
Ìý |
14 |
Ìý |
588 |
Ìý |
61 |
Ìý |
568 |
Ìý |
104 |
​ |
Total Braves Group |
​ |
​ |
350 |
​ |
14 |
​ |
588 |
​ |
61 |
​ |
568 |
​ |
104 |
​ |
Total |
​ |
$ |
12,525 |
Ìý |
3,423 |
Ìý |
12,164 |
Ìý |
3,419 |
Ìý |
11,400 |
Ìý |
3,325 |
​ |
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Other Information By Segment |
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DecemberÌý31,Ìý2023 |
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DecemberÌý31,Ìý2022 |
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 |
​ |
$ |
29,801 |
Ìý |
707 |
Ìý |
650 |
Ìý |
29,501 |
Ìý |
665 |
Ìý |
426 |
​ |
Live Nation |
​ |
​ |
NA |
​ |
NA |
​ |
NA |
​ |
16,461 |
​ |
409 |
​ |
377 |
​ |
Corporate and other |
​ |
​ |
100 |
​ |
8 |
​ |
— |
​ |
978 |
​ |
158 |
​ |
— |
​ |
Eliminate equity method affiliate |
​ |
​ |
NA |
​ |
NA |
​ |
NA |
​ |
(16,461) |
​ |
(409) |
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(377) |
​ |
Total Â鶹×îгöÆ· SiriusXM Group |
​ |
​ |
29,901 |
​ |
715 |
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650 |
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30,479 |
​ |
823 |
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426 |
​ |
Formula One Group |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Formula 1 |
​ |
​ |
9,057 |
Ìý |
2 |
Ìý |
112 |
​ |
8,980 |
Ìý |
— |
Ìý |
38 |
​ |
Corporate and other |
​ |
Ìý |
1,236 |
Ìý |
39 |
Ìý |
314 |
Ìý |
2,036 |
Ìý |
34 |
Ìý |
253 |
​ |
Intergroup elimination |
​ |
​ |
(26) |
​ |
— |
​ |
— |
​ |
— |
​ |
— |
​ |
— |
​ |
Total Formula One Group |
​ |
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10,267 |
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41 |
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426 |
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11,016 |
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34 |
​ |
291 |
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Â鶹×îгöÆ· Live Group |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
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Live Nation |
​ |
​ |
19,074 |
​ |
447 |
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469 |
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NA |
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NA |
​ |
NA |
​ |
Corporate and other |
​ |
​ |
1,162 |
​ |
333 |
​ |
— |
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NA |
​ |
NA |
​ |
NA |
​ |
Eliminate equity method affiliate |
​ |
​ |
(19,074) |
​ |
(447) |
​ |
(469) |
​ |
NA |
​ |
NA |
​ |
NA |
​ |
Total Â鶹×îгöÆ· Live Group |
​ |
​ |
1,162 |
​ |
333 |
​ |
— |
​ |
NA |
​ |
NA |
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NA |
​ |
Braves Group |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Corporate and other |
​ |
​ |
NA |
​ |
NA |
​ |
35 |
​ |
1,477 |
​ |
95 |
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18 |
​ |
Total Braves Group |
​ |
​ |
NA |
​ |
NA |
​ |
35 |
​ |
1,477 |
​ |
95 |
​ |
18 |
​ |
Elimination (1) |
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​ |
(162) |
​ |
— |
​ |
— |
​ |
(508) |
​ |
— |
​ |
— |
​ |
Consolidated Â鶹×îгöÆ· |
​ |
$ |
41,168 |
Ìý |
1,089 |
Ìý |
1,111 |
Ìý |
42,464 |
Ìý |
952 |
Ìý |
735 |
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(1) |
As of December 31, 2022, this amount included the intergroup interests in the Braves Group previously held by the Formula One Group and the Â鶹×îгöÆ· SiriusXM Group and the intergroup interest in the Formula One Group previously 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 were presented as assets of the Formula One Group and Â鶹×îгöÆ· SiriusXM Group, respectively, and were 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 was presented as an asset of the Â鶹×îгöÆ· SiriusXM Group and was presented as a liability of the Formula One Group in the attributed financial statements. The offsetting amounts between tracking stock groups were eliminated in consolidation.
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Reconciliation of Adjusted OIBDA to operating income (loss) and earnings (loss) |
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YearsÌýendedÌýDecemberÌý31, |
Ìý |
​ |
ÌýÌýÌýÌý |
2023 |
ÌýÌýÌýÌý |
2022 |
ÌýÌýÌýÌý |
2021 |
Ìý |
|
​ |
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amounts in millions |
Ìý |
Adjusted OIBDA |
​ |
$ |
3,423 |
Ìý |
3,419 |
Ìý |
3,325 |
​ |
Stock-based compensation |
​ |
Ìý |
(232) |
Ìý |
(237) |
Ìý |
(256) |
​ |
Depreciation and amortization |
​ |
Ìý |
(1,030) |
Ìý |
(1,044) |
Ìý |
(1,072) |
​ |
Impairment, restructuring and acquisition costs, net of recoveries (notes 5 and 8) |
​ |
​ |
(67) |
​ |
(74) |
​ |
(20) |
​ |
Litigation settlements, net of recoveries (note 17) |
​ |
​ |
(31) |
​ |
— |
​ |
— |
​ |
Operating income (loss) |
​ |
​ |
2,063 |
​ |
2,064 |
​ |
1,977 |
​ |
Interest expense |
​ |
Ìý |
(782) |
Ìý |
(689) |
Ìý |
(642) |
​ |
Share of earnings (losses) of affiliates, net |
​ |
Ìý |
138 |
Ìý |
99 |
Ìý |
(200) |
​ |
Realized and unrealized gains (losses) on financial instruments, net |
​ |
Ìý |
(323) |
Ìý |
599 |
Ìý |
(451) |
​ |
Gains (losses) on dilution of investment in affiliate |
​ |
​ |
(4) |
​ |
10 |
​ |
152 |
​ |
Other, net |
​ |
Ìý |
93 |
Ìý |
110 |
Ìý |
(47) |
​ |
Earnings (loss) before income taxes |
​ |
$ |
1,185 |
Ìý |
2,193 |
Ìý |
789 |
​ |
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Revenue by Geographic Area |
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​ |
​ |
YearsÌýendedÌýDecemberÌý31, |
Ìý |
​ |
ÌýÌýÌýÌý |
2023 |
ÌýÌýÌýÌý |
2022 |
ÌýÌýÌýÌý |
2021 |
Ìý |
|
​ |
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amountsÌýinÌýmillions |
Ìý |
United States |
​ |
$ |
9,199 |
Ìý |
9,480 |
Ìý |
9,163 |
​ |
United Kingdom |
​ |
Ìý |
3,222 |
Ìý |
2,573 |
Ìý |
2,136 |
​ |
Other |
​ |
​ |
104 |
​ |
111 |
​ |
101 |
​ |
​ |
​ |
$ |
12,525 |
Ìý |
12,164 |
Ìý |
11,400 |
​ |
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Long-lived Assets by Geographic Area |
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​ |
​ |
DecemberÌý31, |
Ìý |
​ |
ÌýÌýÌýÌý |
2023 |
ÌýÌýÌýÌý |
2022 |
Ìý |
|
​ |
​ |
amountsÌýinÌýmillions |
Ìý |
United States |
​ |
$ |
2,001 |
Ìý |
2,208 |
​ |
United Kingdom |
​ |
Ìý |
82 |
Ìý |
47 |
​ |
​ |
​ |
$ |
2,083 |
Ìý |
2,255 |
​ |
​
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