Liberty Media Corporation Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Recent Accounting Pronouncements (Tables)

Recent Accounting Pronouncements (Tables)

3 Months Ended

Mar. 31, 2018

Accounting Standards Update 2014-09 | Difference between Revenue Guidance in Effect before and after Topic 606

Schedule of cumulative effect of changes in consolidated financial statements

The cumulative effect of the changes made to the consolidated balance sheet as of January 1, 2018 for the adoption of ASC 606 are as follows:


		Balance at		Balance at
		December 31,	Adoption of	January 1,
		2017	ASC 606	2018
		in millions
Assets
Other current assets	$	376	55	431
Other assets	$	640	37	677

Liabilities and Equity
Accounts payable and accrued liabilities	$	1,250	33	1,283
Deferred revenue	$	1,941	(42)	1,899
Other current liabilities	$	20	11	31
Other liabilities	$	779	30	809
Deferred income tax liabilities	$	1,478	15	1,493
Retained earnings	$	13,081	41	13,122
Noncontrolling interests in equity of subsidiaries	$	5,631	4	5,635

In accordance with the new revenue standard requirements, the following table illustrates the impact on our reported results in the condensed consolidated statements of operations assuming we did not adopt the new revenue standard on January 1, 2018. Other than previously discussed, upon the adoption of the revenue standard on January 1, 2018, there were no additional material adjustments to our condensed consolidated balance sheet as of March 31, 2018.


	Three months ended March 31, 2018
			Impact of	Balances without
			adopting	adoption of
	As reported		ASC 606	ASC 606
		in millions
Revenue:
Subscriber revenue	$	1,117	24	1,141
Formula 1 revenue	$	114	(6)	108

Costs of subscriber services:
Revenue share and royalties	$	310	22	332
Subscriber acquisition costs	$	123	1	124

Net earnings (loss)	$	213	(5)	208

ASU No. 2016-18 - Restricted Cash

Recent Accounting Pronouncements

Schedule of cash, cash equivalents, restricted cash and restricted cash equivalents


	March 31, 2018		December 31, 2017
	amounts in millions
Cash and cash equivalents	$	1,042	1,029
Restricted cash included in other current assets		27	8
Restricted cash included in other assets		10	10
Total cash and cash equivalents and restricted cash at end of period	$	1,079	1,047

Liberty Sirius XM Group | Accounting Standards Update 2014-09

Recent Accounting Pronouncements

Schedule of revenue disaggregated by source


	Three months ended March 31, 2018
	in millions
Subscriber	$	1,117
Advertising and sponsorship		42
Equipment		35
Music Royalty and Other		181
Total SIRIUS XM revenue	$	1,375

Braves Group | Accounting Standards Update 2014-09

Recent Accounting Pronouncements

Schedule of revenue disaggregated by source


	Three months ended March 31, 2018
	in millions
Baseball	$	20
Development		8
Total Braves Holdings revenue	$	28

Formula One Group | Accounting Standards Update 2014-09

Recent Accounting Pronouncements

Schedule of revenue disaggregated by source


	Three months ended March 31, 2018
	in millions
Primary	$	85
Other		29
Total Formula 1 revenue	$	114