Information About СÀ¶ÊÓÆµ's Operating Segments (Tables)
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12 Months Ended |
Dec. 31, 2022 |
Information About СÀ¶ÊÓÆµ's Operating Segments |
Ìý
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Performance Measures |
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YearsÌýendedÌýDecemberÌý31, |
Ìý |
​ |
​ |
2022 |
​ |
2021 |
​ |
2020 |
Ìý |
​ |
ÌýÌýÌýÌý |
​ |
​ |
ÌýÌýÌýÌý |
Adjusted |
ÌýÌýÌýÌý |
​ |
ÌýÌýÌýÌý |
Adjusted |
ÌýÌýÌýÌý |
​ |
ÌýÌýÌýÌý |
Adjusted |
Ìý |
​ |
​ |
Revenue |
​ |
OIBDA |
​ |
Revenue |
​ |
OIBDA |
​ |
Revenue |
​ |
OIBDA |
Ìý |
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​ |
​ |
amountsÌýinÌýmillions |
Ìý |
СÀ¶ÊÓÆµ SiriusXM Group |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
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Sirius XM Holdings |
​ |
$ |
9,003 |
Ìý |
2,833 |
Ìý |
8,696 |
Ìý |
2,770 |
Ìý |
8,040 |
Ìý |
2,575 |
​ |
Corporate and other |
​ |
​ |
— |
​ |
(26) |
​ |
— |
​ |
(15) |
​ |
— |
​ |
(31) |
​ |
Total СÀ¶ÊÓÆµ SiriusXM Group |
​ |
​ |
9,003 |
​ |
2,807 |
​ |
8,696 |
​ |
2,755 |
​ |
8,040 |
​ |
2,544 |
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Braves Group |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Corporate and other |
​ |
Ìý |
588 |
Ìý |
61 |
Ìý |
568 |
Ìý |
104 |
Ìý |
178 |
Ìý |
(53) |
​ |
Total Braves Group |
​ |
​ |
588 |
​ |
61 |
​ |
568 |
​ |
104 |
​ |
178 |
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(53) |
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Formula One Group |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Formula 1 |
​ |
​ |
2,573 |
​ |
593 |
​ |
2,136 |
​ |
495 |
​ |
1,145 |
​ |
56 |
​ |
Corporate and other |
​ |
​ |
— |
​ |
(42) |
​ |
— |
​ |
(29) |
​ |
— |
​ |
(38) |
​ |
Total Formula One Group |
​ |
​ |
2,573 |
​ |
551 |
​ |
2,136 |
​ |
466 |
​ |
1,145 |
​ |
18 |
​ |
Total |
​ |
$ |
12,164 |
Ìý |
3,419 |
Ìý |
11,400 |
Ìý |
3,325 |
Ìý |
9,363 |
Ìý |
2,509 |
​ |
​
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Other Information By Segment |
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DecemberÌý31,Ìý2022 |
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DecemberÌý31,Ìý2021 |
Ìý |
​ |
ÌýÌýÌýÌý |
Total |
ÌýÌýÌýÌý |
Investments |
ÌýÌýÌýÌý |
Capital |
ÌýÌýÌýÌý |
Total |
ÌýÌýÌýÌý |
Investments |
ÌýÌýÌýÌý |
Capital |
Ìý |
​ |
​ |
assets |
​ |
inÌýaffiliates |
​ |
expenditures |
​ |
assets |
​ |
inÌýaffiliates |
​ |
expenditures |
Ìý |
|
​ |
​ |
amountsÌýinÌýmillions |
Ìý |
СÀ¶ÊÓÆµ SiriusXM Group |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Sirius XM Holdings |
​ |
$ |
29,501 |
Ìý |
665 |
Ìý |
426 |
Ìý |
29,812 |
Ìý |
716 |
Ìý |
388 |
​ |
Corporate and other |
​ |
​ |
978 |
​ |
158 |
​ |
— |
​ |
1,862 |
​ |
89 |
​ |
— |
​ |
Total СÀ¶ÊÓÆµ SiriusXM Group |
​ |
​ |
30,479 |
​ |
823 |
​ |
426 |
​ |
31,674 |
​ |
805 |
​ |
388 |
​ |
Braves Group |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Corporate and other |
​ |
​ |
1,477 |
​ |
95 |
​ |
18 |
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1,636 |
​ |
110 |
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35 |
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Total Braves Group |
​ |
​ |
1,477 |
​ |
95 |
​ |
18 |
​ |
1,636 |
​ |
110 |
​ |
35 |
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Formula One Group |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
​ |
Formula 1 |
​ |
​ |
8,980 |
Ìý |
— |
Ìý |
38 |
​ |
8,819 |
Ìý |
— |
Ìý |
17 |
​ |
Corporate and other |
​ |
Ìý |
2,036 |
Ìý |
34 |
Ìý |
253 |
Ìý |
2,845 |
Ìý |
30 |
Ìý |
— |
​ |
Total Formula One Group |
​ |
​ |
11,016 |
​ |
34 |
​ |
291 |
​ |
11,664 |
​ |
30 |
​ |
17 |
​ |
Elimination (1) |
​ |
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(508) |
​ |
— |
​ |
— |
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(623) |
​ |
— |
​ |
— |
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Consolidated СÀ¶ÊÓÆµ |
​ |
$ |
42,464 |
Ìý |
952 |
Ìý |
735 |
Ìý |
44,351 |
Ìý |
945 |
Ìý |
440 |
​ |
(1) |
As of December 31, 2022 and 2021, this amount includes the intergroup interests in the Braves Group held by the Formula One Group and the СÀ¶ÊÓÆµ SiriusXM Group and the intergroup interest in the Formula One Group held by the СÀ¶ÊÓÆµ SiriusXM Group, as discussed in note 2. The Braves Group intergroup interests attributable to the Formula One Group and the СÀ¶ÊÓÆµ SiriusXM Group are presented as assets of the Formula One Group and СÀ¶ÊÓÆµ SiriusXM |
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Group, respectively, and are presented as liabilities of the Braves Group in the attributed financial statements. The Formula One Group intergroup interest attributable to the СÀ¶ÊÓÆµ SiriusXM Group is presented as an asset of the СÀ¶ÊÓÆµ SiriusXM Group and is presented as a liability of the Formula One Group in the attributed financial statements. The offsetting amounts between tracking stock groups are eliminated in consolidation. |
As of December 31, 2020, this amount was also comprised of the call spread between the Formula One Group and the СÀ¶ÊÓÆµ SiriusXM Group with respect to the Live Nation shares that were reattributed to the СÀ¶ÊÓÆµ SiriusXM Group. During the year ended December 31, 2021, the СÀ¶ÊÓÆµ SiriusXM Group paid approximately $384 million to the Formula One Group to settle its obligation under the call spread.
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Reconciliation of Adjusted OIBDA to operating income (loss) and earnings (loss) |
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YearsÌýendedÌýDecemberÌý31, |
Ìý |
​ |
ÌýÌýÌýÌý |
2022 |
ÌýÌýÌýÌý |
2021 |
ÌýÌýÌýÌý |
2020 |
Ìý |
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amounts in millions |
Ìý |
Adjusted OIBDA |
​ |
$ |
3,419 |
Ìý |
3,325 |
Ìý |
2,509 |
​ |
Litigation settlements and reserves |
​ |
​ |
— |
​ |
— |
​ |
16 |
​ |
Stock-based compensation |
​ |
Ìý |
(237) |
Ìý |
(256) |
Ìý |
(261) |
​ |
Impairment, restructuring and acquisition costs, net of recoveries (notes 5 and 8) |
​ |
​ |
(74) |
​ |
(20) |
​ |
(1,004) |
​ |
Depreciation and amortization |
​ |
Ìý |
(1,044) |
Ìý |
(1,072) |
Ìý |
(1,083) |
​ |
Operating income (loss) |
​ |
​ |
2,064 |
​ |
1,977 |
​ |
177 |
​ |
Interest expense |
​ |
Ìý |
(689) |
Ìý |
(642) |
Ìý |
(634) |
​ |
Share of earnings (losses) of affiliates, net |
​ |
Ìý |
99 |
Ìý |
(200) |
Ìý |
(586) |
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Realized and unrealized gains (losses) on financial instruments, net |
​ |
Ìý |
599 |
Ìý |
(451) |
Ìý |
(402) |
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Gains (losses) on dilution of investment in affiliate |
​ |
​ |
10 |
​ |
152 |
​ |
4 |
​ |
Other, net |
​ |
Ìý |
110 |
Ìý |
(47) |
Ìý |
6 |
​ |
Earnings (loss) from continuing operations before income taxes |
​ |
$ |
2,193 |
Ìý |
789 |
Ìý |
(1,435) |
​ |
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Revenue by Geographic Area |
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YearsÌýendedÌýDecemberÌý31, |
Ìý |
​ |
ÌýÌýÌýÌý |
2022 |
ÌýÌýÌýÌý |
2021 |
ÌýÌýÌýÌý |
2020 |
Ìý |
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​ |
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amountsÌýinÌýmillions |
Ìý |
United States |
​ |
$ |
9,480 |
Ìý |
9,163 |
Ìý |
8,121 |
​ |
United Kingdom |
​ |
Ìý |
2,573 |
Ìý |
2,136 |
Ìý |
1,145 |
​ |
Other |
​ |
​ |
111 |
​ |
101 |
​ |
97 |
​ |
​ |
​ |
$ |
12,164 |
Ìý |
11,400 |
Ìý |
9,363 |
​ |
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Long-lived Assets by Geographic Area |
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​ |
​ |
DecemberÌý31, |
Ìý |
​ |
ÌýÌýÌýÌý |
2022 |
ÌýÌýÌýÌý |
2021 |
Ìý |
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​ |
​ |
amountsÌýinÌýmillions |
Ìý |
United States |
​ |
$ |
2,208 |
Ìý |
1,984 |
​ |
United Kingdom |
​ |
Ìý |
47 |
Ìý |
26 |
​ |
​ |
​ |
$ |
2,255 |
Ìý |
2,010 |
​ |
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