ΒιΆΉapp

​

​

​

Attributed (note 1)

​

​

​

​

​

​

​

ΒιΆΉapp

​

​

​

​

​

​

​

​

​

​

​

SiriusXM

​

Braves

​

Formula One

​

Inter-Group

​

Consolidated

​

​

ΜύΜύΜύΜύ

Group

​

Group

​

Group

​

Eliminations

​

ΒιΆΉapp

ΜύΜύΜύΜύ

​

​

²Ή³Ύ΄Η³ά²Τ³Ω²υΜύΎ±²ΤΜύ³ΎΎ±±τ±τΎ±΄Η²Τ²υ

​

Assets

​

​

​

​

​

​

​

​

​

​

​

​

Current assets:

​

​

​

​

​

​

​

​

​

​

​

​

Cash and cash equivalents

​

$

430

​

215

​

1,584

​

β€”

​

2,229

Μύ

Trade and other receivables, net

​

Μύ

587

​

23

​

91

​

β€”

​

701

Μύ

Other current assets

​

Μύ

366

​

62

​

278

​

β€”

​

706

Μύ

Total current assets

​

Μύ

1,383

​

300

​

1,953

​

β€”

​

3,636

Μύ

Intergroup interests (note 1)

​

​

134

​

β€”

​

228

​

(362)

​

β€”

​

Investments in affiliates, accounted for using the equity method (noteΜύ1)

​

Μύ

862

​

94

​

37

​

β€”

​

993

Μύ

​

​

​

​

​

​

​

​

​

​

​

​

​

Property and equipment, at cost

​

Μύ

2,926

​

1,021

​

616

​

β€”

​

4,563

Μύ

Accumulated depreciation

​

Μύ

(1,742)

​

(292)

​

(112)

​

β€”

​

(2,146)

Μύ

​

​

Μύ

1,184

​

729

​

504

​

β€”

​

2,417

Μύ

​

​

​

​

​

​

​

​

​

​

​

​

​

Intangible assets not subject to amortization

​

​

​

​

​

​

​

​

​

​

​

​

Goodwill

​

Μύ

15,209

​

176

​

3,956

​

β€”

​

19,341

Μύ

FCC licenses

​

Μύ

8,600

​

β€”

​

β€”

​

β€”

​

8,600

Μύ

Other

​

Μύ

1,242

​

124

​

β€”

​

β€”

​

1,366

Μύ

​

​

Μύ

25,051

​

300

​

3,956

​

β€”

​

29,307

Μύ

Intangible assets subject to amortization, net

​

Μύ

1,060

​

28

​

3,083

​

β€”

​

4,171

Μύ

Other assets

​

Μύ

529

​

67

​

1,217

​

(4)

​

1,809

Μύ

Total assets

​

$

30,203

​

1,518

​

10,978

​

(366)

​

42,333

Μύ

​

​

​

​

​

​

​

​

​

​

​

​

​

Liabilities and Equity

​

​

​

​

​

​

​

​

​

​

​

​

Current liabilities:

​

​

​

​

​

​

​

​

​

​

​

​

Intergroup payable (receivable) (note 3)

​

$

35

​

(2)

​

(33)

​

β€”

​

β€”

​

Accounts payable and accrued liabilities

​

​

1,229

Μύ

66

​

318

​

β€”

​

1,613

​

Current portion of debt

​

​

608

​

75

​

23

​

β€”

​

706

​

Deferred revenue

​

Μύ

1,307

Μύ

191

​

655

​

β€”

​

2,153

​

Other current liabilities

​

Μύ

80

Μύ

5

​

35

​

β€”

​

120

​

Total current liabilities

​

Μύ

3,259

Μύ

335

​

998

​

β€”

​

4,592

​

Long-term debt (note 1)

​

Μύ

12,292

Μύ

463

​

2,935

​

β€”

​

15,690

​

Deferred income tax liabilities

​

Μύ

2,046

Μύ

46

​

β€”

​

(4)

​

2,088

​

Redeemable intergroup interests (note 1)

​

​

β€”

​

291

​

71

​

(362)

​

β€”

​

Other liabilities

​

Μύ

596

Μύ

147

​

136

​

β€”

​

879

​

Total liabilities

​

Μύ

18,193

Μύ

1,282

​

4,140

​

(366)

​

23,249

​

Equity / Attributed net assets

​

Μύ

8,920

Μύ

229

​

6,813

​

β€”

​

15,962

​

Noncontrolling interests in equity of subsidiaries

​

Μύ

3,090

Μύ

7

​

25

​

β€”

​

3,122

​

Total liabilities and equity

​

$

30,203

Μύ

1,518

​

10,978

​

(366)

​

42,333

​

​

​

​

Attributed (note 1)

​

​

​

​

​

ΒιΆΉapp

​

​

​

​

​

​

​

​

​

SiriusXM

​

Braves

​

Formula One

​

Consolidated

​

​

​

Group

​

Group

​

Group

​

ΒιΆΉapp

​

​

​

²Ή³Ύ΄Η³ά²Τ³Ω²υΜύΎ±²ΤΜύ³ΎΎ±±τ±τΎ±΄Η²Τ²υ

​

Cash flows from operating activities:

​

​

​

​

​

​

​

​

​

​

Net earnings (loss)

​

$

220

Μύ

(59)

​

(109)

​

52

​

Adjustments to reconcile net earnings (loss) to net cash provided by operating activities:

​

​

​

​

​

​

​

​

​

​

Depreciation and amortization

​

Μύ

161

Μύ

15

​

84

​

260

​

Stock-based compensation

​

Μύ

48

Μύ

3

​

5

​

56

​

Non-cash impairment and restructuring costs

​

​

8

Μύ

β€”

​

β€”

​

8

​

Share of (earnings) loss of affiliates, net

​

Μύ

7

Μύ

1

​

2

​

10

​

Unrealized (gains) losses on intergroup interests, net

​

​

(54)

​

13

​

41

​

β€”

​

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

​

Μύ

(2)

Μύ

1

​

47

​

46

​

Deferred income tax expense (benefit)

​

Μύ

7

Μύ

(8)

​

(5)

​

(6)

​

Intergroup tax allocation

​

​

31

​

(5)

​

(26)

​

β€”

​

Other charges (credits), net

​

Μύ

4

Μύ

1

​

(3)

​

2

​

Changes in operating assets and liabilities

​

​

​

​

​

​

​

​

​

​

Current and other assets

​

Μύ

46

Μύ

27

​

(8)

​

65

​

Payables and other liabilities

​

Μύ

(157)

Μύ

96

​

229

​

168

​

Net cash provided (used) by operating activities

​

Μύ

319

Μύ

85

​

257

​

661

​

Cash flows from investing activities:

​

​

​

​

​

​

​

​

​

​

Investments in equity method affiliates and debt and equity securities

​

Μύ

(39)

Μύ

β€”

​

(130)

​

(169)

​

Cash proceeds from dispositions

​

​

β€”

​

β€”

​

34

​

34

​

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

​

Μύ

(205)

Μύ

(14)

​

(62)

​

(281)

​

Other investing activities, net

​

Μύ

2

Μύ

β€”

​

(1)

​

1

​

Net cash provided (used) by investing activities

​

Μύ

(242)

Μύ

(14)

​

(159)

​

(415)

​

Cash flows from financing activities:

​

​

​

​

​

​

​

​

​

​

Borrowings of debt

​

Μύ

1,479

Μύ

β€”

​

β€”

​

1,479

​

Repayments of debt

​

Μύ

(1,633)

Μύ

(4)

​

(53)

​

(1,690)

​

Intergroup (repayments) borrowings

​

​

202

​

β€”

​

(202)

​

β€”

​

Subsidiary shares repurchased by subsidiary

​

Μύ

(62)

Μύ

β€”

​

β€”

​

(62)

​

Cash dividends paid by subsidiary

​

​

(17)

​

β€”

​

β€”

​

(17)

​

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

​

Μύ

(15)

Μύ

(1)

​

(8)

​

(24)

​

Other financing activities, net

​

​

37

​

6

​

14

​

57

​

Net cash provided (used) by financing activities

​

Μύ

(9)

Μύ

1

​

(249)

​

(257)

​

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

​

​

β€”

​

β€”

​

2

​

2

​

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

​

Μύ

68

Μύ

72

​

(149)

​

(9)

​

Cash, cash equivalents and restricted cash at beginning of period

​

Μύ

370

Μύ

173

​

1,733

​

2,276

​

Cash, cash equivalents and restricted cash at end of period

​

$

438

Μύ

245

​

1,584

​

2,267

​

​

​

​

Attributed (note 1)

​

​

​

​

​

ΒιΆΉapp

​

​

​

​

​

​

​

​

​

SiriusXM

​

Braves

​

Formula One

​

Consolidated

​

​

​

Group

​

Group

​

Group

​

ΒιΆΉapp

​

​

​

²Ή³Ύ΄Η³ά²Τ³Ω²υΜύΎ±²ΤΜύ³ΎΎ±±τ±τΎ±΄Η²Τ²υ

​

Cash flows from operating activities:

​

​

​

​

​

​

​

​

​

​

Net earnings (loss)

​

$

344

Μύ

(13)

​

(35)

​

296

​

Adjustments to reconcile net earnings (loss) to net cash provided by operating activities:

​

​

​

​

​

​

​

​

​

​

Depreciation and amortization

​

Μύ

152

Μύ

18

​

90

​

260

​

Stock-based compensation

​

Μύ

49

Μύ

3

​

3

​

55

​

Share of (earnings) loss of affiliates, net

​

Μύ

18

Μύ

(4)

​

β€”

​

14

​

Unrealized (gains) losses on intergroup interests, net

​

​

(20)

​

(1)

​

21

​

β€”

​

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

​

Μύ

(61)

Μύ

(5)

​

7

​

(59)

​

Deferred income tax expense (benefit)

​

Μύ

39

Μύ

(10)

​

26

​

55

​

Intergroup tax allocation

​

​

42

​

7

​

(49)

​

β€”

​

Other charges (credits), net

​

Μύ

(11)

Μύ

(20)

​

(2)

​

(33)

​

Changes in operating assets and liabilities

​

​

​

​

​

​

​

​

​

​

Current and other assets

​

Μύ

21

Μύ

23

​

(158)

​

(114)

​

Payables and other liabilities

​

Μύ

(238)

Μύ

83

​

232

​

77

​

Net cash provided (used) by operating activities

​

Μύ

335

Μύ

81

​

135

​

551

​

Cash flows from investing activities:

​

​

​

​

​

​

​

​

​

​

Investments in equity method affiliates and debt and equity securities

​

Μύ

(1)

Μύ

(5)

​

(3)

​

(9)

​

Cash proceeds from dispositions

​

​

50

​

47

​

β€”

​

97

​

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

​

Μύ

(97)

Μύ

(4)

​

(10)

​

(111)

​

Other investing activities, net

​

Μύ

(42)

Μύ

β€”

​

76

​

34

​

Net cash provided (used) by investing activities

​

Μύ

(90)

Μύ

38

​

63

​

11

​

Cash flows from financing activities:

​

​

​

​

​

​

​

​

​

​

Borrowings of debt

​

Μύ

1,740

Μύ

15

​

β€”

​

1,755

​

Repayments of debt

​

Μύ

(1,204)

Μύ

(37)

​

(1)

​

(1,242)

​

ΒιΆΉapp stock repurchases

​

​

(202)

​

β€”

​

(37)

​

(239)

​

Subsidiary shares repurchased by subsidiary

​

Μύ

(206)

Μύ

β€”

​

β€”

​

(206)

​

Cash dividends paid by subsidiary

​

​

(201)

​

β€”

​

β€”

​

(201)

​

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

​

Μύ

(61)

Μύ

β€”

​

26

​

(35)

​

Other financing activities, net

​

​

1

​

(4)

​

7

​

4

​

Net cash provided (used) by financing activities

​

Μύ

(133)

Μύ

(26)

​

(5)

​

(164)

​

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

​

​

β€”

​

β€”

​

(2)

​

(2)

​

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

​

Μύ

112

Μύ

93

​

191

​

396

​

Cash, cash equivalents and restricted cash at beginning of period

​

Μύ

606

Μύ

244

​

2,074

​

2,924

​

Cash, cash equivalents and restricted cash at end of period

​

$

718

Μύ

337

​

2,265

​

3,320

​