us-gaap:OtherCurrentAssetsMemberus-gaap:OtherNoncurrentAssetsMember1014214241033390161031267510312639258344262583433498082329808601981824981860244814124482332322762122033245743992976139894784203442287203366419us-gaap:OtherCurrentAssetsMemberus-gaap:OtherNoncurrentAssetsMemberP3DP3Y000000P30YP6MP12MP12MP72MP84M0001560385--12-312020Q2false0001560385lmca:LibertySiriusXmGroupMemberus-gaap:CommonClassCMember2020-06-052020-06-050001560385lmca:LibertySiriusXmGroupMemberus-gaap:CommonClassCMemberus-gaap:CommonStockMember2020-06-300001560385lmca:LibertySiriusXmGroupMemberus-gaap:CommonClassAMemberus-gaap:CommonStockMember2020-06-300001560385lmca:LibertyFormulaOneGroupMemberus-gaap:CommonClassCMemberus-gaap:CommonStockMember2020-06-300001560385us-gaap:RetainedEarningsMember2020-06-300001560385us-gaap:NoncontrollingInterestMember2020-06-300001560385us-gaap:AociIncludingPortionAttributableToNoncontrollingInterestMember2020-06-300001560385us-gaap:AdditionalPaidInCapitalMember2020-06-300001560385lmca:LibertySiriusXmGroupMemberus-gaap:CommonClassCMemberus-gaap:CommonStockMember2020-03-310001560385lmca:LibertySiriusXmGroupMemberus-gaap:CommonClassAMemberus-gaap:CommonStockMember2020-03-310001560385lmca:LibertyFormulaOneGroupMemberus-gaap:CommonClassCMemberus-gaap:CommonStockMember2020-03-310001560385us-gaap:RetainedEarningsMember2020-03-310001560385us-gaap:NoncontrollingInterestMember2020-03-310001560385us-gaap:AociIncludingPortionAttributableToNoncontrollingInterestMember2020-03-310001560385us-gaap:AdditionalPaidInCapitalMember2020-03-3100015603852020-03-310001560385lmca:LibertySiriusXmGroupMemberus-gaap:CommonClassCMemberus-gaap:CommonStockMember2019-12-310001560385lmca:LibertySiriusXmGroupMemberus-gaap:CommonClassAMemberus-gaap:CommonStockMember2019-12-310001560385lmca:LibertyFormulaOneGroupMemberus-gaap:CommonClassCMemberus-gaap:CommonStockMember2019-12-310001560385us-gaap:RetainedEarningsMember2019-12-310001560385us-gaap:NoncontrollingInterestMember2019-12-310001560385us-gaap:AociIncludingPortionAttributableToNoncontrollingInterestMember2019-12-310001560385us-gaap:AdditionalPaidInCapitalMember2019-12-310001560385lmca:LibertySiriusXmGroupMemberus-gaap:CommonClassCMemberus-gaap:CommonStockMember2019-06-300001560385lmca:LibertySiriusXmGroupMemberus-gaap:CommonClassAMemberus-gaap:CommonStockMember2019-06-300001560385lmca:LibertyFormulaOneGroupMemberus-gaap:CommonClassCMemberus-gaap:CommonStockMember2019-06-300001560385us-gaap:RetainedEarningsMember2019-06-300001560385us-gaap:NoncontrollingInterestMember2019-06-300001560385us-gaap:AociIncludingPortionAttributableToNoncontrollingInterestMember2019-06-300001560385us-gaap:AdditionalPaidInCapitalMember2019-06-300001560385lmca:LibertySiriusXmGroupMemberus-gaap:CommonClassCMemberus-gaap:CommonStockMember2019-03-310001560385lmca:LibertySiriusXmGroupMemberus-gaap:CommonClassAMemberus-gaap:CommonStockMember2019-03-310001560385lmca:LibertyFormulaOneGroupMemberus-gaap:CommonClassCMemberus-gaap:CommonStockMember2019-03-310001560385us-gaap:RetainedEarningsMember2019-03-310001560385us-gaap:NoncontrollingInterestMember2019-03-310001560385us-gaap:AociIncludingPortionAttributableToNoncontrollingInterestMember2019-03-310001560385us-gaap:AdditionalPaidInCapitalMember2019-03-3100015603852019-03-310001560385lmca:LibertySiriusXmGroupMemberus-gaap:CommonClassCMemberus-gaap:CommonStockMember2018-12-310001560385lmca:LibertySiriusXmGroupMemberus-gaap:CommonClassAMemberus-gaap:CommonStockMember2018-12-310001560385lmca:LibertyFormulaOneGroupMemberus-gaap:CommonClassCMemberus-gaap:CommonStockMember2018-12-310001560385us-gaap:RetainedEarningsMember2018-12-310001560385us-gaap:NoncontrollingInterestMember2018-12-310001560385us-gaap:AociIncludingPortionAttributableToNoncontrollingInterestMember2018-12-310001560385us-gaap:AdditionalPaidInCapitalMember2018-12-310001560385lmca:LibertySiriusXmGroupMembersrt:ChiefExecutiveOfficerMemberus-gaap:CommonClassCMember2020-01-012020-06-300001560385lmca:LibertySiriusXmGroupMemberlmca:LibertyEmployeesMemberus-gaap:CommonClassCMember2020-01-012020-06-300001560385lmca:LibertyFormulaOneGroupMembersrt:ChiefExecutiveOfficerMemberus-gaap:CommonClassCMember2020-01-012020-06-300001560385lmca:LibertyFormulaOneGroupMemberlmca:LibertyEmployeesMemberus-gaap:CommonClassCMember2020-01-012020-06-300001560385lmca:LibertyBravesGroupMembersrt:ChiefExecutiveOfficerMemberus-gaap:CommonClassCMember2020-01-012020-06-300001560385lmca:LibertyBravesGroupMemberlmca:LibertyEmployeesMemberus-gaap:CommonClassCMember2020-01-012020-06-300001560385lmca:LibertySiriusXmGroupMemberus-gaap:CommonClassBMember2020-01-012020-06-300001560385lmca:LibertyFormulaOneGroupMemberus-gaap:CommonClassBMember2020-01-012020-06-300001560385lmca:LibertyBravesGroupMemberus-gaap:CommonClassBMember2020-01-012020-06-300001560385lmca:LibertySiriusXmGroupMemberus-gaap:CommonClassCMember2020-01-012020-06-300001560385lmca:LibertySiriusXmGroupMemberus-gaap:CommonClassAMember2020-01-012020-06-300001560385lmca:LibertyFormulaOneGroupMemberus-gaap:CommonClassCMember2020-01-012020-06-300001560385lmca:LibertyFormulaOneGroupMemberus-gaap:CommonClassAMember2020-01-012020-06-300001560385lmca:LibertyBravesGroupMemberus-gaap:CommonClassCMember2020-01-012020-06-300001560385lmca:LibertyBravesGroupMemberus-gaap:CommonClassAMember2020-01-012020-06-300001560385srt:MinimumMemberlmca:LibertyEmployeesMemberus-gaap:CommonClassCMember2020-01-012020-06-300001560385srt:MaximumMemberlmca:LibertyEmployeesMemberus-gaap:CommonClassCMember2020-01-012020-06-300001560385lmca:LibertySiriusXmGroupMembersrt:ChiefExecutiveOfficerMemberlmca:TimeBasedRestrictedStockUnitsMemberus-gaap:CommonClassCMember2020-06-300001560385lmca:LibertyFormulaOneGroupMembersrt:ChiefExecutiveOfficerMemberlmca:TimeBasedRestrictedStockUnitsMemberus-gaap:CommonClassCMember2020-06-300001560385lmca:LibertyBravesGroupMembersrt:ChiefExecutiveOfficerMemberlmca:TimeBasedRestrictedStockUnitsMemberus-gaap:CommonClassCMember2020-06-300001560385lmca:SiriusXmHoldingsMemberus-gaap:RestrictedStockUnitsRSUMember2020-04-012020-06-300001560385lmca:LibertySiriusXmGroupMembersrt:ChiefExecutiveOfficerMemberlmca:TimeBasedRestrictedStockUnitsMemberus-gaap:CommonClassCMember2020-01-012020-06-300001560385lmca:LibertyFormulaOneGroupMembersrt:ChiefExecutiveOfficerMemberlmca:TimeBasedRestrictedStockUnitsMemberus-gaap:CommonClassCMember2020-01-012020-06-300001560385lmca:LibertyBravesGroupMembersrt:ChiefExecutiveOfficerMemberlmca:TimeBasedRestrictedStockUnitsMemberus-gaap:CommonClassCMember2020-01-012020-06-300001560385lmca:LibertyFormulaOneGroupMemberlmca:Formula1EmployeesMemberus-gaap:CommonClassCMember2020-01-012020-06-300001560385lmca:SiriusXmHoldingsMember2019-04-012019-06-300001560385lmca:SiriusXmHoldingsMember2019-01-012019-06-3000015603852029-01-01lmca:FormulaOneAndBravesHoldingsMember2020-06-3000015603852023-01-01lmca:FormulaOneAndBravesHoldingsMember2020-06-3000015603852022-01-01lmca:FormulaOneAndBravesHoldingsMember2020-06-3000015603852021-01-01lmca:FormulaOneAndBravesHoldingsMember2020-06-3000015603852020-04-01lmca:FormulaOneAndBravesHoldingsMember2020-06-300001560385lmca:SiriusXmHoldingsMemberlmca:SiriusXmCanadaMember2020-04-012020-06-300001560385lmca:SiriusXmHoldingsMemberlmca:SiriusXmCanadaMember2019-04-012019-06-300001560385lmca:LibertySiriusXmGroupMemberus-gaap:OperatingSegmentsMemberus-gaap:SubscriptionAndCirculationMemberlmca:SiriusXmHoldingsMember2020-04-012020-06-300001560385lmca:LibertySiriusXmGroupMemberus-gaap:OperatingSegmentsMemberus-gaap:AdvertisingMemberlmca:SiriusXmHoldingsMember2020-04-012020-06-300001560385lmca:LibertySiriusXmGroupMemberus-gaap:OperatingSegmentsMemberlmca:ProductEquipmentMemberlmca:SiriusXmHoldingsMember2020-04-012020-06-300001560385lmca:LibertySiriusXmGroupMemberus-gaap:OperatingSegmentsMemberlmca:OtherRevenueMemberlmca:SiriusXmHoldingsMember2020-04-012020-06-300001560385lmca:LibertyFormulaOneGroupMemberus-gaap:OperatingSegmentsMemberlmca:PrimaryFormulaOneRevenueMemberlmca:FormulaOneMember2020-04-012020-06-300001560385lmca:LibertyFormulaOneGroupMemberus-gaap:OperatingSegmentsMemberlmca:OtherRevenueMemberlmca:FormulaOneMember2020-04-012020-06-300001560385lmca:LibertyBravesGroupMemberus-gaap:CorporateNonSegmentMemberlmca:DevelopmentLeasesMember2020-04-012020-06-300001560385lmca:LibertyBravesGroupMemberus-gaap:CorporateNonSegmentMemberlmca:BaseballMember2020-04-012020-06-300001560385lmca:SiriusXmHoldingsRevenueMember2020-04-012020-06-300001560385lmca:ProductServiceOrOtherMember2020-04-012020-06-300001560385lmca:LibertySiriusXmGroupMemberus-gaap:OperatingSegmentsMemberus-gaap:SubscriptionAndCirculationMemberlmca:SiriusXmHoldingsMember2020-01-012020-06-300001560385lmca:LibertySiriusXmGroupMemberus-gaap:OperatingSegmentsMemberus-gaap:AdvertisingMemberlmca:SiriusXmHoldingsMember2020-01-012020-06-300001560385lmca:LibertySiriusXmGroupMemberus-gaap:OperatingSegmentsMemberlmca:ProductEquipmentMemberlmca:SiriusXmHoldingsMember2020-01-012020-06-300001560385lmca:LibertySiriusXmGroupMemberus-gaap:OperatingSegmentsMemberlmca:OtherRevenueMemberlmca:SiriusXmHoldingsMember2020-01-012020-06-300001560385lmca:LibertyFormulaOneGroupMemberus-gaap:OperatingSegmentsMemberlmca:PrimaryFormulaOneRevenueMemberlmca:FormulaOneMember2020-01-012020-06-300001560385lmca:LibertyFormulaOneGroupMemberus-gaap:OperatingSegmentsMemberlmca:OtherRevenueMemberlmca:FormulaOneMember2020-01-012020-06-300001560385lmca:LibertyBravesGroupMemberus-gaap:CorporateNonSegmentMemberlmca:DevelopmentLeasesMember2020-01-012020-06-300001560385lmca:LibertyBravesGroupMemberus-gaap:CorporateNonSegmentMemberlmca:BaseballMember2020-01-012020-06-300001560385lmca:SiriusXmHoldingsRevenueMember2020-01-012020-06-300001560385lmca:ProductServiceOrOtherMember2020-01-012020-06-300001560385lmca:LibertySiriusXmGroupMemberus-gaap:OperatingSegmentsMemberus-gaap:SubscriptionAndCirculationMemberlmca:SiriusXmHoldingsMember2019-04-012019-06-300001560385lmca:LibertySiriusXmGroupMemberus-gaap:OperatingSegmentsMemberus-gaap:AdvertisingMemberlmca:SiriusXmHoldingsMember2019-04-012019-06-300001560385lmca:LibertySiriusXmGroupMemberus-gaap:OperatingSegmentsMemberlmca:ProductEquipmentMemberlmca:SiriusXmHoldingsMember2019-04-012019-06-300001560385lmca:LibertySiriusXmGroupMemberus-gaap:OperatingSegmentsMemberlmca:OtherRevenueMemberlmca:SiriusXmHoldingsMember2019-04-012019-06-300001560385lmca:LibertyFormulaOneGroupMemberus-gaap:OperatingSegmentsMemberlmca:PrimaryFormulaOneRevenueMemberlmca:FormulaOneMember2019-04-012019-06-300001560385lmca:LibertyFormulaOneGroupMemberus-gaap:OperatingSegmentsMemberlmca:OtherRevenueMemberlmca:FormulaOneMember2019-04-012019-06-300001560385lmca:LibertyBravesGroupMemberus-gaap:CorporateNonSegmentMemberlmca:DevelopmentLeasesMember2019-04-012019-06-300001560385lmca:LibertyBravesGroupMemberus-gaap:CorporateNonSegmentMemberlmca:BaseballMember2019-04-012019-06-300001560385lmca:SiriusXmHoldingsRevenueMember2019-04-012019-06-300001560385lmca:ProductServiceOrOtherMember2019-04-012019-06-300001560385lmca:LibertySiriusXmGroupMemberus-gaap:OperatingSegmentsMemberus-gaap:SubscriptionAndCirculationMemberlmca:SiriusXmHoldingsMember2019-01-012019-06-300001560385lmca:LibertySiriusXmGroupMemberus-gaap:OperatingSegmentsMemberus-gaap:AdvertisingMemberlmca:SiriusXmHoldingsMember2019-01-012019-06-300001560385lmca:LibertySiriusXmGroupMemberus-gaap:OperatingSegmentsMemberlmca:ProductEquipmentMemberlmca:SiriusXmHoldingsMember2019-01-012019-06-300001560385lmca:LibertySiriusXmGroupMemberus-gaap:OperatingSegmentsMemberlmca:OtherRevenueMemberlmca:SiriusXmHoldingsMember2019-01-012019-06-300001560385lmca:LibertyFormulaOneGroupMemberus-gaap:OperatingSegmentsMemberlmca:PrimaryFormulaOneRevenueMemberlmca:FormulaOneMember2019-01-012019-06-300001560385lmca:LibertyFormulaOneGroupMemberus-gaap:OperatingSegmentsMemberlmca:OtherRevenueMemberlmca:FormulaOneMember2019-01-012019-06-300001560385lmca:LibertyBravesGroupMemberus-gaap:CorporateNonSegmentMemberlmca:DevelopmentLeasesMember2019-01-012019-06-300001560385lmca:LibertyBravesGroupMemberus-gaap:CorporateNonSegmentMemberlmca:BaseballMember2019-01-012019-06-300001560385lmca:SiriusXmHoldingsRevenueMember2019-01-012019-06-300001560385lmca:ProductServiceOrOtherMember2019-01-012019-06-300001560385lmca:SiriusXmHoldingsMember2020-04-012020-06-300001560385lmca:FormulaOneMemberlmca:SeniorLoanFacilitiesMember2018-01-012018-01-310001560385lmca:SiriusXmHoldingsMemberlmca:PandoraSoundcloudAdvertisingAgreementMemberlmca:SoundcloudHoldingsLlcMember2020-04-012020-06-300001560385lmca:SiriusXmHoldingsMemberlmca:PandoraSoundcloudAdvertisingAgreementMemberlmca:SoundcloudHoldingsLlcMember2020-01-012020-06-300001560385lmca:SiriusXmHoldingsMemberlmca:PandoraSoundcloudAdvertisingAgreementMemberlmca:SoundcloudHoldingsLlcMember2019-04-012019-06-300001560385lmca:SiriusXmHoldingsMemberlmca:PandoraSoundcloudAdvertisingAgreementMemberlmca:SoundcloudHoldingsLlcMember2019-01-012019-06-300001560385lmca:QurateRetailTripcoLibertyBroadbandExpediaHoldingsGciLibertyMember2020-04-012020-06-300001560385lmca:QurateRetailTripcoLibertyBroadbandExpediaHoldingsGciLibertyMember2020-01-012020-06-300001560385lmca:QurateRetailTripcoLibertyBroadbandExpediaHoldingsGciLibertyMember2019-04-012019-06-300001560385lmca:QurateRetailTripcoLibertyBroadbandExpediaHoldingsGciLibertyMember2019-01-012019-06-300001560385us-gaap:RetainedEarningsMember2020-04-012020-06-300001560385us-gaap:RetainedEarningsMember2020-01-012020-06-300001560385us-gaap:RetainedEarningsMember2019-04-012019-06-300001560385lmca:LibertySiriusXmGroupMemberlmca:SiriusXmHoldingsMarginLoanMember2020-04-222020-04-2200015603852020-06-052020-06-050001560385lmca:SiriusXmHoldingsMemberlmca:SoundcloudHoldingsLlcMember2020-02-102020-02-100001560385lmca:SiriusXmHoldingsMemberlmca:EWScrippsCompanyMember2020-07-132020-07-130001560385lmca:SiriusXmHoldingsMemberlmca:SimplecastMember2020-06-162020-06-160001560385us-gaap:AociIncludingPortionAttributableToNoncontrollingInterestMember2020-04-012020-06-300001560385us-gaap:AociIncludingPortionAttributableToNoncontrollingInterestMember2020-01-012020-06-300001560385us-gaap:AociIncludingPortionAttributableToNoncontrollingInterestMember2019-04-012019-06-300001560385us-gaap:AociIncludingPortionAttributableToNoncontrollingInterestMember2019-01-012019-06-300001560385lmca:SiriusXmHoldingsMemberlmca:SiriusXmCanadaMemberlmca:RelatedParty7.62LoanMember2020-06-300001560385lmca:AnlbcMemberlmca:OperatingCreditFacilityMaturingDecember2022Member2020-06-300001560385lmca:LibertySiriusXmGroupMemberlmca:SiriusXmHoldingsMarginLoanMember2020-04-220001560385lmca:LibertySiriusXmGroupMemberlmca:IntergroupNoteMember2020-04-220001560385lmca:AnlbcMemberlmca:SpringTrainingCreditFacilityMemberus-gaap:RevolvingCreditFacilityMember2019-12-310001560385lmca:AnlbcMemberlmca:OperatingCreditFacilityMemberus-gaap:RevolvingCreditFacilityMember2019-12-310001560385lmca:AnlbcMemberlmca:BravesHoldingsMixedUseFacilityCreditFacilitiesTotalMemberus-gaap:RevolvingCreditFacilityMember2019-12-310001560385lmca:LibertySiriusXmGroupMemberlmca:SiriusXmHoldingsMarginLoanMember2019-12-310001560385lmca:LibertySiriusXmGroupMemberlmca:SiriusXm5.50SeniorNotesDue2029Member2019-12-310001560385lmca:LibertySiriusXmGroupMemberlmca:SiriusXm5.375SeniorNotesDue2026Member2019-12-310001560385lmca:LibertySiriusXmGroupMemberlmca:SiriusXm5.375SeniorNotesDue2025Member2019-12-310001560385lmca:LibertySiriusXmGroupMemberlmca:SiriusXm5.00SeniorNotesDue2027Member2019-12-310001560385lmca:LibertySiriusXmGroupMemberlmca:SiriusXm4.625SeniorNotesDue2024Member2019-12-310001560385lmca:LibertySiriusXmGroupMemberlmca:SiriusXM4.625SeniorNotesDue2023Member2019-12-310001560385lmca:LibertySiriusXmGroupMemberlmca:SiriusXm3.875SeniorNotesDue2022Member2019-12-310001560385lmca:LibertySiriusXmGroupMemberlmca:Pandora1.75PercentConvertibleSeniorNotesDue2023Member2019-12-310001560385lmca:LibertySiriusXmGroupMemberlmca:Pandora1.75PercentConvertibleSeniorNotesDue2020Member2019-12-310001560385lmca:LibertySiriusXmGroupMemberlmca:Exchangeable2.75SeniorDebenturesDue2049Member2019-12-310001560385lmca:LibertySiriusXmGroupMemberlmca:Exchangeable2.125SeniorDebenturesDue2048Member2019-12-310001560385lmca:LibertyFormulaOneGroupMemberus-gaap:OtherDebtSecuritiesMember2019-12-310001560385lmca:LibertyFormulaOneGroupMemberlmca:SeniorLoanFacilityMember2019-12-310001560385lmca:LibertyFormulaOneGroupMemberlmca:LiveNationMarginLoanMember2019-12-310001560385lmca:LibertyFormulaOneGroupMemberlmca:Liberty1CashConvertibleNotesDue2023Member2019-12-310001560385lmca:LibertyFormulaOneGroupMemberlmca:Exchangeable2.25SeniorDebenturesDue2046Member2019-12-310001560385lmca:LibertyBravesGroupMemberlmca:NotesAndLoansMember2019-12-310001560385lmca:AnlbcMemberlmca:BravesHoldingsSeniorSecuredNotesMember2019-12-310001560385lmca:AnlbcMemberlmca:BravesHoldingsFloatingRateNotesMember2019-12-310001560385lmca:AnlbcMemberlmca:AnlbcTermLoanMember2019-12-310001560385lmca:AnlbcMember2019-12-310001560385lmca:LiveNationMarginLoanMember2020-06-300001560385lmca:FormulaOneMemberlmca:SeniorLoanFacilitiesMemberus-gaap:RevolvingCreditFacilityMember2020-06-300001560385lmca:LibertySiriusXmGroupMemberlmca:SiriusXmCreditFacilityMember2020-06-300001560385lmca:LiveNationMarginLoanMember2020-03-270001560385lmca:LiveNationMarginLoanMember2018-12-100001560385lmca:FormulaOneMemberlmca:SeniorLoanFacilitiesMember2017-08-030001560385lmca:FormulaOneMemberlmca:SeniorLoanFacilitiesMember2017-08-020001560385lmca:FormulaOneMemberlmca:SeniorLoanFacilitiesMemberus-gaap:RevolvingCreditFacilityMember2018-01-310001560385lmca:LibertyFormulaOneGroupMemberlmca:LiveNationMemberus-gaap:CallOptionMember2020-04-220001560385lmca:LibertySiriusXmGroupMemberlmca:LiveNationMember2020-04-220001560385lmca:LibertySiriusXmGroupMemberlmca:LibertySiriusXmGroupMember2020-04-220001560385lmca:LibertySiriusXmGroupMemberlmca:LibertyFormulaOneGroupMember2020-04-220001560385lmca:LibertySiriusXmGroupMemberlmca:LibertyBravesGroupMember2020-04-220001560385lmca:LibertyFormulaOneGroupMemberlmca:LibertySiriusXmGroupMember2020-04-210001560385lmca:LibertyFormulaOneGroupMemberlmca:LibertyBravesGroupMember2020-04-210001560385lmca:LibertySiriusXmGroupMemberlmca:SiriusXmCanadaMember2020-04-012020-06-300001560385lmca:LibertySiriusXmGroupMemberlmca:OtherEquityMethodInvestmentsMember2020-04-012020-06-300001560385lmca:LibertySiriusXmGroupMemberlmca:LiveNationMember2020-04-012020-06-300001560385lmca:LibertyFormulaOneGroupMemberlmca:LiveNationMember2020-04-012020-06-300001560385lmca:LibertyBravesGroupMemberlmca:OtherEquityMethodInvestmentsMember2020-04-012020-06-300001560385lmca:LibertySiriusXmGroupMemberlmca:SiriusXmCanadaMember2020-01-012020-06-300001560385lmca:LibertySiriusXmGroupMemberlmca:OtherEquityMethodInvestmentsMember2020-01-012020-06-300001560385lmca:LibertySiriusXmGroupMemberlmca:LiveNationMember2020-01-012020-06-300001560385lmca:LibertyFormulaOneGroupMemberlmca:OtherEquityMethodInvestmentsMember2020-01-012020-06-300001560385lmca:LibertyFormulaOneGroupMemberlmca:LiveNationMember2020-01-012020-06-300001560385lmca:LibertyBravesGroupMemberlmca:OtherEquityMethodInvestmentsMember2020-01-012020-06-300001560385lmca:LibertySiriusXmGroupMemberlmca:SiriusXmCanadaMember2019-04-012019-06-300001560385lmca:LibertySiriusXmGroupMemberlmca:OtherEquityMethodInvestmentsMember2019-04-012019-06-300001560385lmca:LibertyFormulaOneGroupMemberlmca:OtherEquityMethodInvestmentsMember2019-04-012019-06-300001560385lmca:LibertyFormulaOneGroupMemberlmca:LiveNationMember2019-04-012019-06-300001560385lmca:LibertyBravesGroupMemberlmca:OtherEquityMethodInvestmentsMember2019-04-012019-06-300001560385lmca:LibertySiriusXmGroupMemberlmca:SiriusXmCanadaMember2019-01-012019-06-300001560385lmca:LibertySiriusXmGroupMemberlmca:OtherEquityMethodInvestmentsMember2019-01-012019-06-300001560385lmca:LibertyFormulaOneGroupMemberlmca:OtherEquityMethodInvestmentsMember2019-01-012019-06-300001560385lmca:LibertyFormulaOneGroupMemberlmca:LiveNationMember2019-01-012019-06-300001560385lmca:LibertyBravesGroupMemberlmca:OtherEquityMethodInvestmentsMember2019-01-012019-06-300001560385lmca:SiriusXmHoldingsMember2020-01-012020-06-300001560385us-gaap:CorporateAndOtherMember2020-06-300001560385lmca:SiriusXmHoldingsMember2020-06-300001560385lmca:FormulaOneMember2020-06-300001560385us-gaap:CorporateAndOtherMember2019-12-310001560385lmca:SiriusXmHoldingsMember2019-12-310001560385lmca:FormulaOneMember2019-12-310001560385lmca:LibertySiriusXmGroupMemberlmca:SiriusXmHoldings4.625SeniorNotesDue2023And5.375SeniorNotesDue2025Member2020-07-012020-09-300001560385lmca:OtherFinancialInstrumentsMember2020-04-012020-06-300001560385lmca:FairValueOptionSecuritiesMember2020-04-012020-06-300001560385lmca:DebtMeasuredAtFairValueMember2020-04-012020-06-300001560385lmca:BondHedgeChangeInFairValueMember2020-04-012020-06-300001560385lmca:OtherFinancialInstrumentsMember2020-01-012020-06-300001560385lmca:FairValueOptionSecuritiesMember2020-01-012020-06-300001560385lmca:DebtMeasuredAtFairValueMember2020-01-012020-06-300001560385lmca:BondHedgeChangeInFairValueMember2020-01-012020-06-300001560385lmca:OtherFinancialInstrumentsMember2019-04-012019-06-300001560385lmca:FairValueOptionSecuritiesMember2019-04-012019-06-300001560385lmca:DebtMeasuredAtFairValueMember2019-04-012019-06-300001560385lmca:BondHedgeChangeInFairValueMember2019-04-012019-06-300001560385lmca:OtherFinancialInstrumentsMember2019-01-012019-06-300001560385lmca:FairValueOptionSecuritiesMember2019-01-012019-06-300001560385lmca:DebtMeasuredAtFairValueMember2019-01-012019-06-300001560385lmca:BondHedgeChangeInFairValueMember2019-01-012019-06-300001560385us-gaap:OtherIntangibleAssetsMember2020-06-300001560385us-gaap:LicensingAgreementsMember2020-06-300001560385us-gaap:CustomerRelationshipsMember2020-06-300001560385lmca:FiaAgreementMember2020-06-300001560385us-gaap:OtherIntangibleAssetsMember2019-12-310001560385us-gaap:LicensingAgreementsMember2019-12-310001560385us-gaap:CustomerRelationshipsMember2019-12-310001560385lmca:FiaAgreementMember2019-12-310001560385lmca:LibertySiriusXmGroupMemberlmca:OtherEquityMethodInvestmentsMember2020-06-300001560385lmca:LibertyFormulaOneGroupMemberlmca:OtherEquityMethodInvestmentsMember2020-06-300001560385lmca:LibertyBravesGroupMemberlmca:OtherEquityMethodInvestmentsMember2020-06-300001560385lmca:LibertySiriusXmGroupMemberlmca:SiriusXmCanadaMember2019-12-310001560385lmca:LibertySiriusXmGroupMemberlmca:OtherEquityMethodInvestmentsMember2019-12-310001560385lmca:LibertyFormulaOneGroupMemberlmca:OtherEquityMethodInvestmentsMember2019-12-310001560385lmca:LibertyFormulaOneGroupMemberlmca:LiveNationMember2019-12-310001560385lmca:LibertyBravesGroupMemberlmca:OtherEquityMethodInvestmentsMember2019-12-310001560385lmca:SiriusXmHoldingsMemberlmca:SiriusXmCanadaMember2020-06-300001560385lmca:SiriusXmHoldingsMemberlmca:LibertyFormulaOneGroupMember2020-06-300001560385lmca:LibertySiriusXmGroupMemberlmca:SiriusXmCanadaMember2020-06-300001560385lmca:LibertySiriusXmGroupMemberlmca:LiveNationMember2020-06-300001560385lmca:LibertySiriusXmGroupMemberlmca:LibertyBravesGroupMember2020-06-300001560385lmca:LibertyFormulaOneGroupMemberlmca:LibertyBravesGroupMember2020-06-300001560385lmca:SiriusXmHoldingsMembersrt:MaximumMemberlmca:SiriusXmCanadaMember2020-04-012020-06-300001560385lmca:SiriusXmHoldingsMemberlmca:SiriusXmCanadaMember2020-01-012020-06-300001560385lmca:SiriusXmHoldingsMembersrt:MaximumMemberlmca:SiriusXmCanadaMember2019-04-012019-06-300001560385lmca:SiriusXmHoldingsMemberlmca:SiriusXmCanadaMember2019-01-012019-06-300001560385lmca:SiriusXmHoldingsMember2020-06-300001560385lmca:SiriusXmHoldingsMemberlmca:PandoraSoundcloudAdvertisingAgreementMemberlmca:SoundcloudHoldingsLlcMember2020-06-300001560385lmca:SiriusXmHoldingsMemberlmca:SiriusXmCanadaMember2020-06-300001560385lmca:FormulaOneMemberlmca:SeniorLoanFacilitiesMemberus-gaap:InterestRateSwapMember2020-06-300001560385lmca:LibertySiriusXmGroupMember2019-12-310001560385lmca:LibertyFormulaOneGroupMember2019-12-310001560385lmca:LibertyBravesGroupMember2019-12-310001560385lmca:AnlbcMemberlmca:SpringTrainingCreditFacilityMemberus-gaap:RevolvingCreditFacilityMember2020-06-300001560385lmca:AnlbcMemberlmca:OperatingCreditFacilityMemberus-gaap:RevolvingCreditFacilityMember2020-06-300001560385lmca:AnlbcMemberlmca:BravesHoldingsMixedUseFacilityCreditFacilitiesTotalMemberus-gaap:RevolvingCreditFacilityMember2020-06-300001560385lmca:AnlbcMemberlmca:BravesHoldingsSeniorSecuredNotesMember2020-06-300001560385lmca:AnlbcMemberlmca:BravesHoldingsFloatingRateNotesMember2020-06-300001560385lmca:AnlbcMemberlmca:AnlbcTermLoanMember2020-06-300001560385lmca:LibertySiriusXmGroupMemberlmca:SiriusXmHoldings5.375SeniorNotesDue2025Member2020-07-092020-07-090001560385lmca:LibertySiriusXmGroupMemberlmca:SiriusXmHoldings4.625SeniorNotesDue2023Member2020-07-092020-07-090001560385lmca:LibertySiriusXmGroupMemberlmca:Exchangeable2.75SeniorDebenturesDue2049Member2019-11-262019-11-260001560385lmca:LibertySiriusXmGroupMemberlmca:SiriusXm5.0SeniorNotesDue2027Member2020-06-300001560385lmca:LibertyFormulaOneGroupMemberlmca:ConvertibleBonds1.375PercentMember2020-06-300001560385lmca:LibertyBravesGroupMemberlmca:ConvertibleBonds1.375PercentMember2020-06-300001560385lmca:LibertySiriusXmGroupMemberlmca:Exchangeable2.25SeniorDebenturesDue2048Member2020-04-220001560385lmca:LibertySiriusXmGroupMemberlmca:A1.375CashConvertibleSeniorNotesDue2023Member2020-04-220001560385lmca:LibertyFormulaOneGroupMemberlmca:Exchangeable2.25SeniorDebenturesDue2048Member2019-12-310001560385lmca:LibertyFormulaOneGroupMemberlmca:A1.375CashConvertibleSeniorNotesDue2023Member2019-12-310001560385lmca:LibertyFormulaOneGroupMemberlmca:Exchangeable2.25SeniorDebenturesDue2048Member2018-12-310001560385lmca:A1.375CashConvertibleSeniorNotesDue2023Member2013-10-170001560385lmca:FormulaOneMemberlmca:SeniorLoanFacilitiesMember2020-06-300001560385us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2020-06-300001560385us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2019-12-310001560385lmca:LibertySiriusXmGroupMemberlmca:SiriusXmHoldings5.375SeniorNotesDue2025Member2020-06-300001560385lmca:LibertySiriusXmGroupMemberlmca:SiriusXmHoldings4.625SeniorNotesDue2023Member2020-06-300001560385lmca:LibertySiriusXmGroupMemberlmca:SiriusXmHoldingsMarginLoanMemberus-gaap:RevolvingCreditFacilityMember2020-03-310001560385lmca:LibertySiriusXmGroupMemberlmca:SiriusXmHoldingsMarginLoanMemberlmca:TermLoanMember2020-03-310001560385lmca:LibertySiriusXmGroupMemberlmca:SiriusXmHoldingsMarginLoanMemberlmca:DelayedDrawTermLoanMember2020-03-310001560385lmca:LibertySiriusXmGroupMemberlmca:Exchangeable2.75SeniorDebenturesDue2049Member2019-11-260001560385lmca:Exchangeable2.25SeniorDebenturesDue2048Member2018-12-310001560385lmca:LibertyFormulaOneGroupMemberlmca:Exchangeable2.25SeniorDebenturesDue2046Member2016-08-170001560385lmca:LibertyFormulaOneGroupMemberlmca:A1.375CashConvertibleSeniorNotesDue2023Member2013-10-170001560385lmca:LibertySiriusXmGroupMemberlmca:SiriusXmHoldingsMarginLoanMemberus-gaap:LondonInterbankOfferedRateLIBORMember2020-01-012020-06-300001560385lmca:FormulaOneMemberlmca:SeniorLoanFacilitiesMemberus-gaap:LondonInterbankOfferedRateLIBORMember2018-01-312018-01-310001560385lmca:LibertyFormulaOneGroupMemberlmca:Liberty1CashConvertibleNotesDue2023Memberus-gaap:CommonClassCMember2017-01-232017-01-230001560385lmca:LibertySiriusXmGroupMemberlmca:SiriusXmHoldingsMemberlmca:Exchangeable2.75SeniorDebenturesDue2049Member2019-11-260001560385lmca:LiveNationMemberlmca:Exchangeable2.25SeniorDebenturesDue2048Member2018-12-310001560385lmca:LibertySiriusXmGroupMemberlmca:Exchangeable2.125SeniorDebenturesDue2048Member2018-03-060001560385lmca:LibertyFormulaOneGroupMemberlmca:Liberty1CashConvertibleNotesDue2023Memberus-gaap:CommonClassCMember2017-01-230001560385lmca:LibertySiriusXmGroupMemberlmca:SiriusXm5.50SeniorNotesDue2029Member2020-06-300001560385lmca:LibertySiriusXmGroupMemberlmca:SiriusXm5.375SeniorNotesDue2026Member2020-06-300001560385lmca:LibertySiriusXmGroupMemberlmca:SiriusXm5.375SeniorNotesDue2025Member2020-06-300001560385lmca:LibertySiriusXmGroupMemberlmca:SiriusXm5.00SeniorNotesDue2027Member2020-06-300001560385lmca:LibertySiriusXmGroupMemberlmca:SiriusXm4.625SeniorNotesDue2024Member2020-06-300001560385lmca:LibertySiriusXmGroupMemberlmca:SiriusXM4.625SeniorNotesDue2023Member2020-06-300001560385lmca:LibertySiriusXmGroupMemberlmca:SiriusXm4.125PercentageSeniorNotesDue2030Member2020-06-300001560385lmca:LibertySiriusXmGroupMemberlmca:SiriusXm3.875SeniorNotesDue2022Member2020-06-300001560385lmca:LibertySiriusXmGroupMemberlmca:Pandora1.75PercentConvertibleSeniorNotesDue2023Member2020-06-300001560385lmca:LibertySiriusXmGroupMemberlmca:Pandora1.75PercentConvertibleSeniorNotesDue2020Member2020-06-300001560385lmca:LibertySiriusXmGroupMemberlmca:Exchangeable2.75SeniorDebenturesDue2049Member2020-06-300001560385lmca:LibertySiriusXmGroupMemberlmca:Exchangeable2.25SeniorDebenturesDue2048Member2020-06-300001560385lmca:LibertySiriusXmGroupMemberlmca:Exchangeable2.125SeniorDebenturesDue2048Member2020-06-300001560385lmca:LibertySiriusXmGroupMemberlmca:A1.375CashConvertibleSeniorNotesDue2023Member2020-06-300001560385lmca:LibertyFormulaOneGroupMemberus-gaap:OtherDebtSecuritiesMember2020-06-300001560385lmca:LibertyFormulaOneGroupMemberlmca:SeniorLoanFacilityMember2020-06-300001560385lmca:LibertyFormulaOneGroupMemberlmca:Liberty1CashConvertibleNotesDue2023Member2020-06-300001560385lmca:LibertyFormulaOneGroupMemberlmca:Exchangeable2.25SeniorDebenturesDue2046Member2020-06-300001560385lmca:LibertyBravesGroupMemberlmca:NotesAndLoansMember2020-06-300001560385lmca:LiveNationMarginLoanMemberus-gaap:LondonInterbankOfferedRateLIBORMember2020-01-012020-06-300001560385lmca:LibertySiriusXmGroupMemberlmca:SiriusXmHoldingsMarginLoanMemberus-gaap:LondonInterbankOfferedRateLIBORMember2020-01-012020-03-310001560385lmca:FormulaOneMemberus-gaap:RevolvingCreditFacilityMemberus-gaap:LondonInterbankOfferedRateLIBORMember2019-05-232019-05-230001560385lmca:FormulaOneMemberlmca:SeniorLoanFacilitiesMemberus-gaap:LondonInterbankOfferedRateLIBORMember2018-01-012018-01-310001560385us-gaap:RetainedEarningsMember2019-01-012019-06-300001560385lmca:RevenueShareAndRoyaltiesMember2020-04-012020-06-300001560385lmca:ProgrammingAndContentExpenseMember2020-04-012020-06-300001560385lmca:OtherCostOfSubscriberServicesMember2020-04-012020-06-300001560385lmca:FormulaMember2020-04-012020-06-300001560385lmca:CustomerServiceAndBillingMember2020-04-012020-06-300001560385lmca:RevenueShareAndRoyaltiesMember2020-01-012020-06-300001560385lmca:ProgrammingAndContentExpenseMember2020-01-012020-06-300001560385lmca:OtherCostOfSubscriberServicesMember2020-01-012020-06-300001560385lmca:FormulaMember2020-01-012020-06-300001560385lmca:CustomerServiceAndBillingMember2020-01-012020-06-300001560385lmca:RevenueShareAndRoyaltiesMember2019-04-012019-06-300001560385lmca:ProgrammingAndContentExpenseMember2019-04-012019-06-300001560385lmca:OtherCostOfSubscriberServicesMember2019-04-012019-06-300001560385lmca:FormulaMember2019-04-012019-06-300001560385lmca:CustomerServiceAndBillingMember2019-04-012019-06-300001560385lmca:RevenueShareAndRoyaltiesMember2019-01-012019-06-300001560385lmca:ProgrammingAndContentExpenseMember2019-01-012019-06-300001560385lmca:OtherCostOfSubscriberServicesMember2019-01-012019-06-300001560385lmca:FormulaMember2019-01-012019-06-300001560385lmca:CustomerServiceAndBillingMember2019-01-012019-06-300001560385lmca:FormulaOneAndBravesHoldingsMember2020-06-300001560385lmca:FormulaOneAndBravesHoldingsMember2019-12-310001560385lmca:LibertySiriusXmGroupMemberus-gaap:CommonClassCMember2020-06-300001560385lmca:LibertySiriusXmGroupMemberus-gaap:CommonClassBMember2020-06-300001560385lmca:LibertyFormulaOneGroupMemberus-gaap:CommonClassCMember2020-06-300001560385lmca:LibertyFormulaOneGroupMemberus-gaap:CommonClassBMember2020-06-300001560385lmca:LibertyFormulaOneGroupMemberus-gaap:CommonClassAMember2020-06-300001560385lmca:LibertyBravesGroupMemberus-gaap:CommonClassCMember2020-06-300001560385lmca:LibertyBravesGroupMemberus-gaap:CommonClassBMember2020-06-300001560385lmca:LibertySiriusXmGroupMemberus-gaap:CommonClassCMember2020-04-220001560385lmca:LibertySiriusXmGroupMemberus-gaap:CommonClassBMember2020-04-220001560385lmca:LibertySiriusXmGroupMemberus-gaap:CommonClassAMember2020-04-220001560385lmca:LibertySiriusXmGroupMemberus-gaap:CommonClassCMember2019-12-310001560385lmca:LibertySiriusXmGroupMemberus-gaap:CommonClassBMember2019-12-310001560385lmca:LibertySiriusXmGroupMemberus-gaap:CommonClassAMember2019-12-310001560385lmca:LibertyFormulaOneGroupMemberus-gaap:CommonClassCMember2019-12-310001560385lmca:LibertyFormulaOneGroupMemberus-gaap:CommonClassBMember2019-12-310001560385lmca:LibertyFormulaOneGroupMemberus-gaap:CommonClassAMember2019-12-310001560385lmca:LibertyBravesGroupMemberus-gaap:CommonClassCMember2019-12-310001560385lmca:LibertyBravesGroupMemberus-gaap:CommonClassBMember2019-12-310001560385lmca:LibertyBravesGroupMemberus-gaap:CommonClassAMember2019-12-310001560385lmca:SiriusXmHoldingsMember2020-07-142020-07-140001560385lmca:LibertySiriusXmGroupMemberlmca:A1.375CashConvertibleSeniorNotesDue2023Memberus-gaap:CommonClassAMember2020-06-300001560385lmca:LibertyBravesGroupMemberlmca:WarrantTransactionMemberus-gaap:CommonClassAMember2020-06-300001560385lmca:LibertySiriusXmGroupMemberlmca:WarrantTransactionMemberus-gaap:CommonClassAMember2016-04-150001560385lmca:LibertyFormulaOneGroupMemberlmca:WarrantTransactionMemberus-gaap:CommonClassAMember2016-04-150001560385lmca:LibertyBravesGroupMemberlmca:WarrantTransactionMemberus-gaap:CommonClassAMember2016-04-150001560385lmca:WarrantTransactionMemberus-gaap:CommonClassAMember2016-04-1500015603852019-06-3000015603852018-12-310001560385us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2020-06-300001560385us-gaap:FairValueMeasurementsRecurringMember2020-06-300001560385us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2019-12-310001560385us-gaap:FairValueMeasurementsRecurringMember2019-12-310001560385lmca:SiriusXmHoldingsMemberlmca:LibertySiriusXmGroupMember2020-06-300001560385lmca:FormulaOneMemberlmca:LibertyFormulaOneGroupMember2020-06-300001560385lmca:AnlbcMemberlmca:LibertyBravesGroupMember2020-06-300001560385lmca:FormulaOneMemberlmca:SeniorLoanFacilitiesMember2018-01-310001560385lmca:SiriusXmHoldingsMembersrt:MaximumMemberlmca:SimplecastMember2020-06-160001560385lmca:SiriusXmHoldingsMemberlmca:SimplecastMember2020-06-160001560385lmca:SiriusXmHoldingsMembersrt:MaximumMemberlmca:EWScrippsCompanyMember2020-07-130001560385lmca:SiriusXmHoldingsMemberlmca:PandoraMember2019-02-010001560385lmca:LibertySiriusXmGroupMemberus-gaap:OperatingSegmentsMemberlmca:SiriusXmHoldingsMember2020-06-300001560385lmca:LibertyFormulaOneGroupMemberus-gaap:OperatingSegmentsMemberlmca:FormulaOneMember2020-06-300001560385lmca:LibertySiriusXmGroupMemberus-gaap:CorporateNonSegmentMember2020-06-300001560385lmca:LibertyFormulaOneGroupMemberus-gaap:CorporateNonSegmentMember2020-06-300001560385lmca:LibertyBravesGroupMemberus-gaap:CorporateNonSegmentMember2020-06-300001560385srt:ConsolidationEliminationsMember2020-06-300001560385lmca:LibertySiriusXmGroupMember2020-06-300001560385lmca:LibertyFormulaOneGroupMember2020-06-300001560385lmca:LibertyBravesGroupMember2020-06-300001560385lmca:LibertySiriusXmGroupMemberlmca:CommonClassAandCMember2020-04-012020-06-300001560385lmca:LibertyFormulaOneGroupMemberlmca:CommonClassAandCMember2020-04-012020-06-300001560385lmca:LibertyBravesGroupMemberlmca:CommonClassAandCMember2020-04-012020-06-300001560385lmca:LibertySiriusXmGroupMemberlmca:CommonClassAandCMember2020-01-012020-06-300001560385lmca:LibertyFormulaOneGroupMemberlmca:CommonClassAandCMember2020-01-012020-06-300001560385lmca:LibertyBravesGroupMemberlmca:CommonClassAandCMember2020-01-012020-06-300001560385us-gaap:SellingGeneralAndAdministrativeExpensesMember2020-04-012020-06-300001560385us-gaap:OperatingExpenseMember2020-04-012020-06-300001560385lmca:ProgrammingAndContentExpenseMember2020-04-012020-06-300001560385lmca:OtherCostOfSubscriberServicesMember2020-04-012020-06-300001560385lmca:CustomerServiceAndBillingMember2020-04-012020-06-300001560385us-gaap:SellingGeneralAndAdministrativeExpensesMember2020-01-012020-06-300001560385us-gaap:OperatingExpenseMember2020-01-012020-06-300001560385lmca:ProgrammingAndContentExpenseMember2020-01-012020-06-300001560385lmca:OtherCostOfSubscriberServicesMember2020-01-012020-06-300001560385lmca:CustomerServiceAndBillingMember2020-01-012020-06-300001560385us-gaap:SellingGeneralAndAdministrativeExpensesMember2019-04-012019-06-300001560385us-gaap:OperatingExpenseMember2019-04-012019-06-300001560385lmca:ProgrammingAndContentExpenseMember2019-04-012019-06-300001560385lmca:OtherCostOfSubscriberServicesMember2019-04-012019-06-300001560385lmca:CustomerServiceAndBillingMember2019-04-012019-06-300001560385us-gaap:SellingGeneralAndAdministrativeExpensesMember2019-01-012019-06-300001560385us-gaap:OperatingExpenseMember2019-01-012019-06-300001560385lmca:ProgrammingAndContentExpenseMember2019-01-012019-06-300001560385lmca:OtherCostOfSubscriberServicesMember2019-01-012019-06-300001560385lmca:CustomerServiceAndBillingMember2019-01-012019-06-300001560385us-gaap:NoncontrollingInterestMember2020-04-012020-06-300001560385us-gaap:NoncontrollingInterestMember2020-01-012020-06-300001560385us-gaap:NoncontrollingInterestMember2019-04-012019-06-300001560385us-gaap:AdditionalPaidInCapitalMember2019-04-012019-06-300001560385us-gaap:AdditionalPaidInCapitalMember2020-04-012020-06-300001560385us-gaap:AdditionalPaidInCapitalMember2020-01-012020-06-300001560385lmca:LiveNationMemberlmca:LiveNationMarginLoanMember2020-06-300001560385lmca:LibertySiriusXmGroupMemberlmca:SiriusXmHoldingsMarginLoanMember2020-06-300001560385lmca:LibertySiriusXmGroupMemberlmca:SiriusXmHoldingsMemberlmca:Exchangeable2.75SeniorDebenturesDue2049Member2019-11-262019-11-260001560385lmca:LiveNationMemberlmca:Exchangeable2.25SeniorDebenturesDue2048Member2018-12-012018-12-310001560385lmca:LibertySiriusXmGroupMemberlmca:Exchangeable2.125SeniorDebenturesDue2048Member2018-03-062018-03-060001560385lmca:WarrantTransactionMemberus-gaap:CommonClassAMember2020-06-300001560385lmca:A1.375ConvertibleNotesBondHedgeTransactionMemberus-gaap:CommonClassAMember2020-06-300001560385lmca:LibertySiriusXmGroupMemberus-gaap:CommonClassAMember2020-06-300001560385lmca:LibertyBravesGroupMemberus-gaap:CommonClassAMember2020-06-300001560385lmca:LibertySiriusXmGroupMemberus-gaap:CommonClassAMember2016-04-150001560385lmca:LibertyFormulaOneGroupMemberus-gaap:CommonClassAMember2016-04-150001560385lmca:LibertyBravesGroupMemberus-gaap:CommonClassAMember2016-04-150001560385lmca:AnlbcMember2020-01-012020-06-300001560385lmca:LibertySiriusXmGroupMemberus-gaap:CommonClassCMember2020-05-182020-05-180001560385lmca:SiriusXmHoldingsMemberlmca:SiriusXmCanadaMemberlmca:ServicesAgreementMember2017-05-252017-05-250001560385lmca:SiriusXmHoldingsMemberlmca:SiriusXmCanadaMemberlmca:AdvisoryServicesAgreementMember2017-05-252017-05-250001560385lmca:SiriusXmHoldingsMemberlmca:SiriusXmCanadaMemberlmca:ServicesAgreementMember2020-01-012020-06-300001560385lmca:SiriusXmHoldingsMemberlmca:SiriusXmCanadaMemberlmca:AdvisoryServicesAgreementMember2020-01-012020-06-300001560385lmca:LibertySiriusXmGroupMemberlmca:PandoraMemberlmca:SiriusXmCreditFacilityMemberus-gaap:LetterOfCreditMember2020-01-012020-06-300001560385lmca:LibertySiriusXmGroupMember2020-04-220001560385lmca:LibertyFormulaOneGroupMember2020-04-220001560385lmca:SiriusXmHoldingsMemberlmca:SoundExchangeLawsuitMemberus-gaap:SettledLitigationMember2019-09-012019-09-300001560385lmca:LibertyFormulaOneGroupMember2020-04-222020-04-220001560385lmca:DebtMeasuredAtFairValueMember2020-06-300001560385srt:ChiefExecutiveOfficerMemberlmca:TimeBasedRestrictedStockUnitsMember2020-01-012020-06-300001560385lmca:SiriusXmHoldingsMember2020-01-012020-06-300001560385lmca:SiriusXmCanadaMember2020-01-012020-06-300001560385lmca:SiriusXmHoldingsMember2020-01-012020-06-300001560385lmca:FormulaOneMember2020-01-012020-06-300001560385lmca:LibertySiriusXmGroupMemberlmca:A1.375ConvertibleNotesBondHedgeTransactionMemberus-gaap:CommonClassAMember2020-06-302020-06-300001560385lmca:LibertyBravesGroupMemberlmca:A1.375ConvertibleNotesBondHedgeTransactionMemberus-gaap:CommonClassAMember2020-06-302020-06-300001560385lmca:LibertySiriusXmGroupMemberlmca:A1.375ConvertibleNotesBondHedgeTransactionMemberus-gaap:CommonClassAMember2016-04-152016-04-150001560385lmca:LibertyFormulaOneGroupMemberlmca:A1.375ConvertibleNotesBondHedgeTransactionMemberus-gaap:CommonClassAMember2016-04-152016-04-150001560385lmca:LibertyBravesGroupMemberlmca:A1.375ConvertibleNotesBondHedgeTransactionMemberus-gaap:CommonClassAMember2016-04-152016-04-150001560385lmca:LibertyFormulaOneGroupMemberlmca:AtandtMemberlmca:Exchangeable2.25SeniorDebenturesDue2046Member2018-06-222018-06-220001560385lmca:SiriusXmHoldingsMemberlmca:SiriusXmCanadaMember2020-01-012020-06-3000015603852020-06-3000015603852019-12-310001560385lmca:LibertySiriusXmGroupMemberlmca:SiriusXmCreditFacilityMember2020-01-012020-06-300001560385lmca:LibertySiriusXmGroupMemberlmca:SiriusXmHoldingsMarginLoanMember2020-01-012020-03-310001560385lmca:FormulaOneMemberlmca:SeniorLoanFacilitiesMember2020-06-260001560385srt:MinimumMemberlmca:LiveNationMarginLoanMember2018-12-102018-12-100001560385srt:MaximumMemberlmca:LiveNationMarginLoanMember2018-12-102018-12-100001560385lmca:LibertyFormulaOneGroupMemberlmca:Exchangeable2.25SeniorDebenturesDue2046Member2018-06-220001560385lmca:LibertyFormulaOneGroupMemberlmca:Liberty1CashConvertibleNotesDue2023Member2017-01-230001560385lmca:LibertyFormulaOneGroupMemberlmca:Exchangeable2.25SeniorDebenturesDue2046Member2018-06-222018-06-220001560385lmca:FormulaOneMemberus-gaap:RevolvingCreditFacilityMember2019-05-232019-05-230001560385lmca:AnlbcMember2020-06-300001560385lmca:LibertySiriusXmGroupMemberus-gaap:CommonClassCMember2020-05-180001560385lmca:WarrantTransactionMemberus-gaap:CommonClassAMember2020-01-012020-06-300001560385lmca:SiriusXmHoldingsMemberlmca:PandoraMember2019-02-012019-02-010001560385lmca:SiriusXmHoldingsMemberlmca:PandoraMember2019-04-012019-06-300001560385lmca:SiriusXmHoldingsMemberlmca:PandoraMember2019-01-012019-06-300001560385lmca:AnlbcMember2014-01-012014-12-310001560385us-gaap:NoncontrollingInterestMember2019-01-012019-06-300001560385us-gaap:AdditionalPaidInCapitalMember2019-01-012019-06-300001560385lmca:LibertySiriusXmGroupMemberus-gaap:OperatingSegmentsMemberlmca:SiriusXmHoldingsMember2020-04-012020-06-300001560385lmca:LibertyFormulaOneGroupMemberus-gaap:OperatingSegmentsMemberlmca:FormulaOneMember2020-04-012020-06-300001560385lmca:LibertySiriusXmGroupMemberus-gaap:CorporateNonSegmentMember2020-04-012020-06-300001560385lmca:LibertyFormulaOneGroupMemberus-gaap:CorporateNonSegmentMember2020-04-012020-06-300001560385lmca:LibertyBravesGroupMemberus-gaap:CorporateNonSegmentMember2020-04-012020-06-300001560385lmca:LibertySiriusXmGroupMember2020-04-012020-06-300001560385lmca:LibertyFormulaOneGroupMember2020-04-012020-06-300001560385lmca:LibertyBravesGroupMember2020-04-012020-06-300001560385lmca:LibertySiriusXmGroupMemberus-gaap:OperatingSegmentsMemberlmca:SiriusXmHoldingsMember2020-01-012020-06-300001560385lmca:LibertyFormulaOneGroupMemberus-gaap:OperatingSegmentsMemberlmca:FormulaOneMember2020-01-012020-06-300001560385lmca:LibertySiriusXmGroupMemberus-gaap:CorporateNonSegmentMember2020-01-012020-06-300001560385lmca:LibertyFormulaOneGroupMemberus-gaap:CorporateNonSegmentMember2020-01-012020-06-300001560385lmca:LibertyBravesGroupMemberus-gaap:CorporateNonSegmentMember2020-01-012020-06-300001560385lmca:LibertySiriusXmGroupMember2020-01-012020-06-300001560385lmca:LibertyFormulaOneGroupMember2020-01-012020-06-300001560385lmca:LibertyBravesGroupMember2020-01-012020-06-300001560385lmca:LibertySiriusXmGroupMemberus-gaap:OperatingSegmentsMemberlmca:SiriusXmHoldingsMember2019-04-012019-06-300001560385lmca:LibertyFormulaOneGroupMemberus-gaap:OperatingSegmentsMemberlmca:FormulaOneMember2019-04-012019-06-300001560385lmca:LibertySiriusXmGroupMemberus-gaap:CorporateNonSegmentMember2019-04-012019-06-300001560385lmca:LibertyFormulaOneGroupMemberus-gaap:CorporateNonSegmentMember2019-04-012019-06-300001560385lmca:LibertyBravesGroupMemberus-gaap:CorporateNonSegmentMember2019-04-012019-06-300001560385lmca:LibertySiriusXmGroupMember2019-04-012019-06-300001560385lmca:LibertyFormulaOneGroupMember2019-04-012019-06-300001560385lmca:LibertyBravesGroupMember2019-04-012019-06-300001560385lmca:LibertySiriusXmGroupMemberus-gaap:OperatingSegmentsMemberlmca:SiriusXmHoldingsMember2019-01-012019-06-300001560385lmca:LibertyFormulaOneGroupMemberus-gaap:OperatingSegmentsMemberlmca:FormulaOneMember2019-01-012019-06-300001560385lmca:LibertySiriusXmGroupMemberus-gaap:CorporateNonSegmentMember2019-01-012019-06-300001560385lmca:LibertyFormulaOneGroupMemberus-gaap:CorporateNonSegmentMember2019-01-012019-06-300001560385lmca:LibertyBravesGroupMemberus-gaap:CorporateNonSegmentMember2019-01-012019-06-300001560385lmca:LibertySiriusXmGroupMember2019-01-012019-06-300001560385lmca:LibertyFormulaOneGroupMember2019-01-012019-06-300001560385lmca:LibertyBravesGroupMember2019-01-012019-06-3000015603852020-04-012020-06-3000015603852019-04-012019-06-3000015603852019-01-012019-06-300001560385lmca:LibertySiriusXmGroupCommonClassMember2020-01-012020-06-300001560385lmca:LibertySiriusXmGroupCommonClassCMember2020-01-012020-06-300001560385lmca:LibertySiriusXmGroupCommonClassBMember2020-01-012020-06-300001560385lmca:LibertyFormulaOneGroupCommonClassMember2020-01-012020-06-300001560385lmca:LibertyFormulaOneGroupCommonClassCMember2020-01-012020-06-300001560385lmca:LibertyBravesGroupCommonClassMember2020-01-012020-06-300001560385lmca:LibertyBravesGroupCommonClassCMember2020-01-012020-06-300001560385lmca:LibertySiriusXmGroupCommonClassMember2020-07-310001560385lmca:LibertySiriusXmGroupCommonClassCMember2020-07-310001560385lmca:LibertySiriusXmGroupCommonClassBMember2020-07-310001560385lmca:LibertyFormulaOneGroupCommonClassMember2020-07-310001560385lmca:LibertyFormulaOneGroupCommonClassCMember2020-07-310001560385lmca:LibertyFormulaOneGroupCommonClassBMember2020-07-310001560385lmca:LibertyBravesGroupCommonClassMember2020-07-310001560385lmca:LibertyBravesGroupCommonClassCMember2020-07-310001560385lmca:LibertyBravesGroupCommonClassBMember2020-07-3100015603852020-01-012020-06-300001560385lmca:LibertySiriusXmGroupMemberlmca:SiriusXmHoldingsRevenueMember2020-04-012020-06-300001560385lmca:LibertyBravesGroupMemberlmca:ProductServiceOrOtherMember2020-04-012020-06-300001560385lmca:LibertySiriusXmGroupMemberlmca:SiriusXmHoldingsRevenueMember2020-01-012020-06-300001560385lmca:LibertyBravesGroupMemberlmca:ProductServiceOrOtherMember2020-01-012020-06-300001560385lmca:LibertySiriusXmGroupMemberlmca:SiriusXmHoldingsRevenueMember2019-04-012019-06-300001560385lmca:LibertyBravesGroupMemberlmca:ProductServiceOrOtherMember2019-04-012019-06-300001560385lmca:LibertySiriusXmGroupMemberlmca:SiriusXmHoldingsRevenueMember2019-01-012019-06-300001560385lmca:LibertyBravesGroupMemberlmca:ProductServiceOrOtherMember2019-01-012019-06-300001560385lmca:LibertySiriusXmGroupMemberlmca:RevenueShareAndRoyaltiesMember2020-04-012020-06-300001560385lmca:LibertySiriusXmGroupMemberlmca:ProgrammingAndContentExpenseMember2020-04-012020-06-300001560385lmca:LibertySiriusXmGroupMemberlmca:OtherCostOfSubscriberServicesMember2020-04-012020-06-300001560385lmca:LibertySiriusXmGroupMemberlmca:CustomerServiceAndBillingMember2020-04-012020-06-300001560385lmca:LibertyFormulaOneGroupMemberlmca:FormulaMember2020-04-012020-06-300001560385lmca:LibertySiriusXmGroupMemberlmca:RevenueShareAndRoyaltiesMember2020-01-012020-06-300001560385lmca:LibertySiriusXmGroupMemberlmca:ProgrammingAndContentExpenseMember2020-01-012020-06-300001560385lmca:LibertySiriusXmGroupMemberlmca:OtherCostOfSubscriberServicesMember2020-01-012020-06-300001560385lmca:LibertySiriusXmGroupMemberlmca:CustomerServiceAndBillingMember2020-01-012020-06-300001560385lmca:LibertyFormulaOneGroupMemberlmca:FormulaMember2020-01-012020-06-300001560385lmca:LibertySiriusXmGroupMemberlmca:RevenueShareAndRoyaltiesMember2019-04-012019-06-300001560385lmca:LibertySiriusXmGroupMemberlmca:ProgrammingAndContentExpenseMember2019-04-012019-06-300001560385lmca:LibertySiriusXmGroupMemberlmca:OtherCostOfSubscriberServicesMember2019-04-012019-06-300001560385lmca:LibertySiriusXmGroupMemberlmca:CustomerServiceAndBillingMember2019-04-012019-06-300001560385lmca:LibertyFormulaOneGroupMemberlmca:FormulaMember2019-04-012019-06-300001560385lmca:LibertySiriusXmGroupMemberlmca:RevenueShareAndRoyaltiesMember2019-01-012019-06-300001560385lmca:LibertySiriusXmGroupMemberlmca:ProgrammingAndContentExpenseMember2019-01-012019-06-300001560385lmca:LibertySiriusXmGroupMemberlmca:OtherCostOfSubscriberServicesMember2019-01-012019-06-300001560385lmca:LibertySiriusXmGroupMemberlmca:CustomerServiceAndBillingMember2019-01-012019-06-300001560385lmca:LibertyFormulaOneGroupMemberlmca:FormulaMember2019-01-012019-06-300001560385lmca:LibertySiriusXmGroupMember2019-06-300001560385lmca:LibertyFormulaOneGroupMember2019-06-300001560385lmca:LibertyBravesGroupMember2019-06-300001560385lmca:LibertySiriusXmGroupMember2018-12-310001560385lmca:LibertyFormulaOneGroupMember2018-12-310001560385lmca:LibertyBravesGroupMember2018-12-31xbrli:sharesiso4217:USDutr:acrexbrli:pureiso4217:USDxbrli:shareslmca:itemiso4217:USDlmca:item

Table of Contents

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D. C. 20549

FORM 10-Q

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended June 30, 2020

OR

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from                to                

Commission File Number 001-35707

LIBERTY MEDIA CORPORATION

(Exact name of Registrant as specified in its charter)

State of Delaware

37-1699499

(State or other jurisdiction of

incorporation or organization)

(I.R.S. Employer

Identification No.)

12300 Liberty Boulevard
Englewood, Colorado

80112

(Address of principal executive offices)

(Zip Code)

Registrant's telephone number, including area code: (720875-5400

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol

Name of each exchange on which registered

Series A Liberty SiriusXM Common Stock

LSXMA

The Nasdaq Stock Market LLC

Series B Liberty SiriusXM Common Stock

LSXMB

The Nasdaq Stock Market LLC

Series C Liberty SiriusXM Common Stock

LSXMK

The Nasdaq Stock Market LLC

Series A Liberty Braves Common Stock

BATRA

The Nasdaq Stock Market LLC

Series C Liberty Braves Common Stock

BATRK

The Nasdaq Stock Market LLC

Series A Liberty Formula One Common Stock

FWONA

The Nasdaq Stock Market LLC

Series C Liberty Formula One Common Stock

FWONK

The Nasdaq Stock Market LLC

Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports) and (2) has been subject to such filing requirements for the past 90 days. Yes     No 

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes     No 

Indicate by check mark whether the Registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large Accelerated Filer 

Accelerated Filer 

Non-accelerated Filer 

Smaller Reporting Company 

Emerging Growth Company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

Indicate by check mark whether the Registrant is a shell company as defined in Rule 12b-2 of the Exchange Act. Yes     No 

The number of outstanding shares of Liberty Media Corporation's common stock as of July 31, 2020 was:

Series A

Series B

Series C

Liberty SiriusXM common stock

101,421,551

9,808,105

232,276,238

Liberty Braves common stock

10,312,685

981,814

39,929,761

Liberty Formula One common stock

25,834,452

2,448,115

203,442,287

Table of Contents

Table of Contents

Part I – Financial Information

Item 1. Financial Statements

LIBERTY MEDIA CORPORATION AND SUBSIDIARIES Condensed Consolidated Balance Sheets (unaudited)

I-3

LIBERTY MEDIA CORPORATION AND SUBSIDIARIES Condensed Consolidated Statements of Operations (unaudited)

I-5

LIBERTY MEDIA CORPORATION AND SUBSIDIARIES Condensed Consolidated Statements of Comprehensive Earnings (Loss) (unaudited)

I-7

LIBERTY MEDIA CORPORATION AND SUBSIDIARIES Condensed Consolidated Statements of Cash Flows (unaudited)

I-8

LIBERTY MEDIA CORPORATION AND SUBSIDIARIES Condensed Consolidated Statements of Equity (unaudited)

I-10

LIBERTY MEDIA CORPORATION AND SUBSIDIARIES Notes to Condensed Consolidated Financial Statements (unaudited)

I-14

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations

I-46

Item 3. Quantitative and Qualitative Disclosures about Market Risk

I-66

Item 4. Controls and Procedures

I-67

Part II — Other Information

Item 1. Legal Proceedings

II-1

Item 1A. Risk Factors

II-1

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

II-2

Item 6. Exhibits

II-3

SIGNATURES

II-4

I-2

Table of Contents

LIBERTY MEDIA CORPORATION AND SUBSIDIARIES

Condensed Consolidated Balance Sheets

(unaudited)

June 30, 2020

    

December 31, 2019

 

amounts in millions

 

Assets

Current assets:

Cash and cash equivalents

$

3,999

 

1,222

Trade and other receivables, net

 

673

 

767

Other current assets

 

709

 

416

Total current assets

 

5,381

 

2,405

Investments in affiliates, accounted for using the equity method (note 7)

 

1,274

 

1,625

Property and equipment, at cost

 

3,849

 

3,780

Accumulated depreciation

 

(1,604)

 

(1,518)

 

2,245

 

2,262

Intangible assets not subject to amortization (note 8):

Goodwill

 

19,956

 

19,939

FCC licenses

 

8,600

 

8,600

Other

 

1,405

 

1,405

 

29,961

 

29,944

Intangible assets subject to amortization, net (note 8)

 

5,653

 

5,940

Other assets

 

1,694

 

2,013

Total assets

$

46,208

 

44,189

Liabilities and Equity

Current liabilities:

Accounts payable and accrued liabilities

$

1,401

 

1,621

Current portion of debt (note 9)

1,874

60

Deferred revenue

 

2,638

 

2,113

Other current liabilities

 

102

 

94

Total current liabilities

 

6,015

 

3,888

Long-term debt, including $3,091 million and $3,678 million measured at fair value at June 30, 2020 and December 31, 2019, respectively (note 9)

 

14,980

 

15,416

Deferred income tax liabilities

 

2,004

 

1,913

Other liabilities

 

1,121

 

1,047

Total liabilities

 

24,120

 

22,264

(Continued)

See accompanying notes to condensed consolidated financial statements.

I-3

Table of Contents

LIBERTY MEDIA CORPORATION AND SUBSIDIARIES

Condensed Consolidated Balance Sheets (Continued)

(unaudited)

    

June 30, 2020

    

December 31, 2019

 

amounts in millions,

 

except share amounts

 

Stockholders' equity:

Preferred stock, $.01 par value. Authorized 50,000,000 shares; no shares issued

 

 

Series A Liberty SiriusXM common stock, $.01 par value. Authorized 2,000,000,000 shares; issued and outstanding 101,421,424 shares at June 30, 2020 and 103,339,016 shares at December 31, 2019 (note 2)

1

1

Series A Liberty Braves common stock, $.01 par value. Authorized 200,000,000 shares; issued and outstanding 10,312,675 shares at June 30, 2020 and 10,312,639 shares at December 31, 2019 (note 2)

Series A Liberty Formula One common stock, $.01 par value. Authorized 500,000,000 shares; issued and outstanding 25,834,426 shares at June 30, 2020 and 25,834,334 shares at December 31, 2019 (note 2)

Series B Liberty SiriusXM common stock, $.01 par value. Authorized 75,000,000 shares; issued and outstanding 9,808,232 shares at June 30, 2020 and 9,808,601 at December 31, 2019 (note 2)

Series B Liberty Braves common stock, $.01 par value. Authorized 7,500,000 shares; issued and outstanding 981,824 shares at June 30, 2020 and 981,860 at December 31, 2019 (note 2)

Series B Liberty Formula One common stock, $.01 par value. Authorized 18,750,000 shares; issued and outstanding 2,448,141 shares at June 30, 2020 and 2,448,233 shares at December 31, 2019 (note 2)

Series C Liberty SiriusXM common stock, $.01 par value. Authorized 2,000,000,000 shares; issued and outstanding 232,276,212 shares at June 30, 2020 and 203,324,574 shares at December 31, 2019 (note 2)

2

2

Series C Liberty Braves common stock, $.01 par value. Authorized 200,000,000 shares; issued and outstanding 39,929,761 shares at June 30, 2020 and 39,894,784 shares at December 31, 2019 (note 2)

Series C Liberty Formula One common stock, $.01 par value. Authorized 500,000,000 shares; issued and outstanding 203,442,287 shares at June 30, 2020 and 203,366,419 shares at December 31, 2019 (note 2)

2

2

Additional paid-in capital

 

3,110

 

2,575

Accumulated other comprehensive earnings (loss), net of taxes

 

156

 

(33)

Retained earnings

 

13,339

 

13,748

Total stockholders' equity

 

16,610

 

16,295

Noncontrolling interests in equity of subsidiaries

 

5,478

 

5,630

Total equity

 

22,088

 

21,925

Commitments and contingencies (note 10)

Total liabilities and equity

$

46,208

 

44,189

See accompanying notes to condensed consolidated financial statements.

I-4

Table of Contents

LIBERTY MEDIA CORPORATION AND SUBSIDIARIES

Condensed Consolidated Statements of Operations

(unaudited)

Three months ended

    

Six months ended

 

June 30,

June 30,

 

    

2020

    

2019

    

2020

    

2019

 

amounts in millions,

 

except per share amounts

 

Revenue:

Sirius XM Holdings revenue

$

1,874

 

1,977

 

3,826

 

3,721

Formula 1 revenue

24

620

63

866

Other revenue

 

11

 

208

 

33

 

230

Total revenue

 

1,909

 

2,805

 

3,922

 

4,817

Operating costs and expenses, including stock-based compensation (note 4):

Cost of services (exclusive of depreciation shown separately below):

Revenue share and royalties

 

587

 

600

 

1,157

 

1,092

Programming and content

 

110

 

116

 

228

 

222

Customer service and billing

 

122

 

119

 

240

 

232

Other

 

47

 

47

 

91

 

84

Cost of Formula 1 revenue

16

441

59

589

Subscriber acquisition costs

 

48

 

104

 

147

 

212

Other operating expense

 

85

 

203

 

185

 

288

Selling, general and administrative

 

390

 

436

 

798

 

835

Acquisition and restructuring (note 3)

24

7

24

83

Depreciation and amortization

 

266

 

271

 

533

 

519

 

1,695

 

2,344

 

3,462

 

4,156

Operating income (loss)

 

214

 

461

 

460

 

661

Other income (expense):

Interest expense

 

(163)

 

(167)

 

(327)

 

(326)

Share of earnings (losses) of affiliates, net (note 7)

 

(193)

 

34

 

(255)

 

14

Realized and unrealized gains (losses) on financial instruments, net (note 6)

 

(180)

 

(87)

 

(179)

 

(185)

Other, net

 

14

 

21

 

31

 

29

 

(522)

 

(199)

 

(730)

 

(468)

Earnings (loss) before income taxes

 

(308)

 

262

 

(270)

 

193

Income tax (expense) benefit

 

46

 

(70)

 

10

 

(128)

Net earnings (loss)

 

(262)

 

192

 

(260)

 

65

Less net earnings (loss) attributable to the noncontrolling interests

 

64

 

76

 

142

 

107

Net earnings (loss) attributable to Liberty stockholders

$

(326)

 

116

 

(402)

 

(42)

Net earnings (loss) attributable to Liberty stockholders:

Liberty SiriusXM common stock

$

(88)

167

126

228

Liberty Braves common stock

(38)

26

15

(45)

Liberty Formula One common stock

(200)

(77)

(543)

(225)

$

(326)

116

(402)

(42)

(Continued)

See accompanying notes to condensed consolidated financial statements.

I-5

Table of Contents

LIBERTY MEDIA CORPORATION AND SUBSIDIARIES

Condensed Consolidated Statements of Operations (Continued)

(unaudited)

Three months ended

    

Six months ended

June 30,

June 30,

2020

    

2019

    

2020

    

2019

Basic net earnings (loss) attributable to Liberty stockholders per common share
(notes 3 and 6):

Series A, B and C Liberty SiriusXM common stock

(0.27)

0.51

0.39

0.69

Series A, B and C Liberty Braves common stock

(0.75)

0.51

0.29

(0.88)

Series A, B and C Liberty Formula One common stock

(0.86)

(0.33)

(2.34)

(0.97)

Diluted net earnings (loss) attributable to Liberty stockholders per common share
(notes 3 and 6):

Series A, B and C Liberty SiriusXM common stock

(0.27)

0.50

0.28

0.68

Series A, B and C Liberty Braves common stock

(0.75)

0.46

(1.22)

(0.88)

Series A, B and C Liberty Formula One common stock

(0.86)

(0.33)

(2.34)

(0.97)

See accompanying notes to condensed consolidated financial statements.

I-6

Table of Contents

LIBERTY MEDIA CORPORATION AND SUBSIDIARIES

Condensed Consolidated Statements of Comprehensive Earnings (Loss)

(unaudited)

Three months ended

Six months ended

June 30,

June 30,

 

    

2020

    

2019

    

2020

    

2019

amounts in millions

Net earnings (loss)

$

(262)

 

192

 

(260)

 

65

Other comprehensive earnings (loss), net of taxes:

Foreign currency translation adjustments

 

15

 

10

 

(22)

 

19

Credit risk on fair value debt instruments gains (losses)

 

21

 

10

 

237

 

(3)

Unrealized holding gains (losses) arising during the period

1

(6)

3

Share of other comprehensive earnings (loss) of equity affiliates

 

4

 

 

(26)

 

Comprehensive earnings (loss)

 

(222)

 

213

 

(77)

 

84

Less comprehensive earnings (loss) attributable to the noncontrolling interests

 

68

 

79

 

136

 

113

Comprehensive earnings (loss) attributable to Liberty stockholders

$

(290)

 

134

 

(213)

 

(29)

Comprehensive earnings (loss) attributable to Liberty stockholders:

Liberty SiriusXM common stock

$

(53)

175

221

242

Liberty Braves common stock

(39)

27

8

(42)

Liberty Formula One common stock

(198)

(68)

(442)

(229)

$

(290)

134

(213)

(29)

See accompanying notes to condensed consolidated financial statements.

I-7

Table of Contents

LIBERTY MEDIA CORPORATION AND SUBSIDIARIES

Condensed Consolidated Statements of Cash Flows

(unaudited)

Six months ended

June 30,

    

2020

    

2019

 

amounts in millions

Cash flows from operating activities:

Net earnings

$

(260)

 

65

Adjustments to reconcile net earnings to net cash provided by operating activities:

Depreciation and amortization

 

533

 

519

Stock-based compensation

 

112

 

162

Share of (earnings) loss of affiliates, net

 

255

 

(14)

Realized and unrealized (gains) losses on financial instruments, net

 

179

 

185

Deferred income tax expense (benefit)

 

(34)

 

115

Other, net

 

34

 

3

Changes in operating assets and liabilities

Current and other assets

 

(240)

 

(83)

Payables and other liabilities

 

290

 

220

Net cash provided (used) by operating activities

 

869

 

1,172

Cash flows from investing activities:

Investments in equity method affiliates and debt and equity securities

 

(87)

 

(20)

Return of investment in equity method affiliates

105

Cash proceeds from sale of investments

13

373

Cash (paid) received for acquisitions, net of cash acquired

(28)

313

Capital expended for property and equipment, including internal-use software and website development

 

(206)

 

(221)

Sales of short term investments and other marketable securities

 

 

72

Other investing activities, net

 

 

(5)

Net cash provided (used) by investing activities

 

(203)

 

512

Cash flows from financing activities:

Borrowings of debt

 

2,835

 

2,879

Repayments of debt

 

(884)

 

(2,387)

Liberty SiriusXM stock repurchases

(138)

(306)

Subsidiary shares repurchased by subsidiary

 

(399)

 

(1,474)

Proceeds from Liberty SiriusXM common stock rights offering

754

Cash dividends paid by subsidiary

(33)

(36)

Taxes paid in lieu of shares issued for stock-based compensation

(46)

(57)

Other financing activities, net

 

(20)

 

(4)

Net cash provided (used) by financing activities

 

2,069

 

(1,385)

Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash

(10)

Net increase (decrease) in cash, cash equivalents and restricted cash

 

2,725

 

299

Cash, cash equivalents and restricted cash at beginning of period

 

1,306

 

452

Cash, cash equivalents and restricted cash at end of period

$

4,031

 

751

I-8

Table of Contents

The following table reconciles cash and cash equivalents and restricted cash reported in our condensed consolidated balance sheets to the total amount presented in our condensed consolidated statements of cash flows:

June 30,

December 31,

2020

    

2019

amounts in millions

Cash and cash equivalents

$

3,999

1,222

Restricted cash included in other current assets

8

57

Restricted cash included in other assets

24

27

Total cash and cash equivalents and restricted cash at end of period

$

4,031

1,306

See accompanying notes to condensed consolidated financial statements.

I-9

Table of Contents

LIBERTY MEDIA CORPORATION AND SUBSIDIARIES

Condensed Consolidated Statement of Equity

(unaudited)

Three Months ended June 30, 2020

Stockholders' equity

 

    

    

Accumulated

    

    

Noncontrolling

    

Additional

other

interest in

Preferred

Liberty Sirius XM

Liberty Braves

Liberty Formula One

Paid-in

comprehensive

Retained

equity of

Total

    

Stock

    

Series A

    

Series B

    

Series C

    

Series A

    

Series B

    

Series C

Series A

    

Series B

    

Series C

    

Capital

    

earnings (loss)

    

earnings

    

subsidiaries

    

equity

 

amounts in millions

Balance at March 31, 2020

$

1