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

Leases (Tables)

3 Months Ended

Mar. 31, 2019


	Balance at December 31, 2018		Adjustments due to ASC 842	Balance at January 1, 2019
	in millions
Assets
Other current assets	$	360	(2)	358
Property and equipment, at cost	$	3,765	(371)	3,394
Accumulated depreciation	$	(1,296)	15	(1,281)
Other assets	$	583	396	979

Liabilities and Equity
Current portion of debt	$	17	(4)	13
Other current liabilities	$	32	36	68
Long-term debt	$	13,371	(1)	13,370
Other long-term liabilities	$	864	9	873
Retained earnings	$	13,644	(2)	13,642


	Three months ended
	March 31, 2019
	in millions
Finance lease cost
Depreciation of leased assets	$	2
Interest on lease liabilities		1
Total finance lease cost		3
Operating lease cost		19
Sublease income		(1)
Total lease cost	$	21


	Three months ended
	March 31, 2019
Weighted-average remaining lease term (years):
Finance leases		29.8
Operating leases		10.2
Weighted-average discount rate:
Finance leases		4.7%
Operating leases		5.2%


		March 31,
		2019
		in millions
Operating leases:
Operating lease right-of-use assets (1)	$	476

Current operating lease liabilities (2)	$	53
Operating lease liabilities (3)		439
Total operating lease liabilities	$	492

Finance Leases:
Property and equipment, at cost	$	482
Accumulated depreciation		(73)
Property and equipment, net	$	409

Current finance lease liabilities (2)	$	10
Finance lease liabilities (3)		119
Total finance lease liabilities	$	129

(1)

Included in Other assets in the condensed consolidated balance sheet

(2)

Included in Other current liabilities in the condensed consolidated balance sheet

Included in Other liabilities in the condensed consolidated balance sheet


	Three months ended
	March 31, 2019
	in millions
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	20
Financing cash flows from finance leases	$	4


		Finance leases	Operating leases
		in millions
Remainder of 2019	$	9	57
2020		11	78
2021		10	65
2022		9	61
2023		9	57
Thereafter		173	319
Total lease payments		221	637
Less: implied interest		92	145
Present value of lease liabilities	$	129	492


		Finance leases	Operating leases
		in millions
Remainder of 2019	$	9	57
2020		11	78
2021		10	65
2022		9	61
2023		9	57
Thereafter		173	319
Total lease payments		221	637
Less: implied interest		92	145
Present value of lease liabilities	$	129	492