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

Leases (Tables)

9 Months Ended

Sep. 30, 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	$	1,861	396	2,257

Liabilities and Equity
Other current liabilities	$	49	32	81
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		Nine months ended
	September 30, 2019		September 30, 2019
	in millions
Finance lease cost
Depreciation of leased assets	$	10	28
Interest on lease liabilities		1	4
Total finance lease cost		11	32
Operating lease cost		23	67
Sublease income		(1)	(3)
Total lease cost	$	33	96


	September 30, 2019
Weighted-average remaining lease term (years):
Finance leases		29.9
Operating leases		10.1
Weighted-average discount rate:
Finance leases		4.6%
Operating leases		5.2%


	September 30,
	2019
	in millions
Operating leases:
Operating lease right-of-use assets (1)	$	471

Current operating lease liabilities (2)	$	54
Operating lease liabilities (3)		445
Total operating lease liabilities	$	499

Finance Leases:
Property and equipment, at cost	$	494
Accumulated depreciation		(82)
Property and equipment, net	$	412

Current finance lease liabilities (2)	$	4
Finance lease liabilities (3)		123
Total finance lease liabilities	$	127

(1)

Included in Other assets in the condensed consolidated balance sheet

(2)

Included in Other current liabilities in the condensed consolidated balance sheet

(3)

Included in Other liabilities in the condensed consolidated balance sheet


	Nine Months Ended
	September 30, 2019
	in millions
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	58
Financing cash flows from finance leases	$	6

Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	36


	Finance leases		Operating leases
	in millions
Remainder of 2019	$	4	14
2020		10	81
2021		10	69
2022		9	65
2023		9	62
Thereafter		174	351
Total lease payments		216	642
Less: implied interest		89	143
Present value of lease liabilities	$	127	499


	Finance leases		Operating leases
	in millions
Remainder of 2019	$	4	14
2020		10	81
2021		10	69
2022		9	65
2023		9	62
Thereafter		174	351
Total lease payments		216	642
Less: implied interest		89	143
Present value of lease liabilities	$	127	499