Ογ½Ά΄«Γ½

​

​

​

Attributed (note 1)

​

​

​

​

​

​

​

Ογ½Ά΄«Γ½

​

​

​

​

​

​

​

​

​

​

​

SiriusXM

​

Braves

​

Formula One

​

Inter-Group

​

Consolidated

​

​

ΜύΜύΜύΜύ

Group

​

Group

​

Group

​

Eliminations

​

Ογ½Ά΄«Γ½

ΜύΜύΜύΜύ

​

​

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

​

Assets

​

​

​

​

​

​

​

​

​

​

​

​

Current assets:

​

​

​

​

​

​

​

​

​

​

​

​

Cash and cash equivalents

​

$

598

​

142

​

2,074

​

β€”

​

2,814

Μύ

Trade and other receivables, net

​

Μύ

722

​

40

​

66

​

β€”

​

828

Μύ

Other current assets

​

Μύ

793

​

148

​

229

​

β€”

​

1,170

Μύ

Total current assets

​

Μύ

2,113

​

330

​

2,369

​

β€”

​

4,812

Μύ

Intergroup interests (note 1)

​

​

379

​

β€”

​

191

​

(570)

​

β€”

​

Investments in affiliates, accounted for using the equity method (note 1)

​

Μύ

805

​

110

​

30

​

β€”

​

945

Μύ

​

​

​

​

​

​

​

​

​

​

​

​

​

Property and equipment, at cost

​

Μύ

2,811

​

1,008

​

208

​

β€”

​

4,027

Μύ

Accumulated depreciation

​

Μύ

(1,697)

​

(231)

​

(89)

​

β€”

​

(2,017)

Μύ

​

​

Μύ

1,114

​

777

​

119

​

β€”

​

2,010

Μύ

​

​

​

​

​

​

​

​

​

​

​

​

​

Intangible assets not subject to amortization

​

​

​

​

​

​

​

​

​

​

​

​

Goodwill

​

Μύ

15,111

​

180

​

3,957

​

β€”

​

19,248

Μύ

FCC licenses

​

Μύ

8,600

​

β€”

​

β€”

​

β€”

​

8,600

Μύ

Other

​

Μύ

1,242

​

143

​

β€”

​

β€”

​

1,385

Μύ

​

​

Μύ

24,953

​

323

​

3,957

​

β€”

​

29,233

Μύ

Intangible assets subject to amortization, net

​

Μύ

1,269

​

21

​

3,507

​

β€”

​

4,797

Μύ

Other assets

​

Μύ

1,041

​

75

​

1,491

​

(53)

​

2,554

Μύ

Total assets

​

$

31,674

​

1,636

​

11,664

​

(623)

​

44,351

Μύ

​

​

​

​

​

​

​

​

​

​

​

​

​

Liabilities and Equity

​

​

​

​

​

​

​

​

​

​

​

​

Current liabilities:

​

​

​

​

​

​

​

​

​

​

​

​

Intergroup payable (receivable) (note 4)

​

$

14

​

(31)

​

17

​

β€”

​

β€”

​

Accounts payable and accrued liabilities

​

​

1,458

Μύ

66

​

308

​

β€”

​

1,832

​

Current portion of debt (noteΜύ1)

​

Μύ

2,184

Μύ

12

​

695

​

β€”

​

2,891

​

Deferred revenue

​

Μύ

1,454

Μύ

83

​

253

​

β€”

​

1,790

​

Other current liabilities

​

Μύ

68

Μύ

6

​

23

​

β€”

​

97

​

Total current liabilities

​

Μύ

5,178

Μύ

136

​

1,296

​

β€”

​

6,610

​

Long-term debt (note 1)

​

Μύ

12,078

Μύ

685

​

2,936

​

β€”

​

15,699

​

Deferred income tax liabilities (note 3)

​

Μύ

2,206

Μύ

65

​

β€”

​

(53)

​

2,218

​

Redeemable intergroup interests (note 1)

​

​

β€”

​

257

​

313

​

(570)

​

β€”

​

Other liabilities

​

Μύ

611

Μύ

197

​

179

​

β€”

​

987

​

Total liabilities

​

Μύ

20,073

Μύ

1,340

​

4,724

​

(623)

​

25,514

​

Redeemable noncontrolling interests in equity of subsidiary

​

​

β€”

​

β€”

​

575

​

β€”

​

575

​

Equity / Attributed net assets

​

Μύ

8,036

Μύ

296

​

6,340

​

β€”

​

14,672

​

Noncontrolling interests in equity of subsidiaries

​

Μύ

3,565

Μύ

β€”

​

25

​

β€”

​

3,590

​

Total liabilities and equity

​

$

31,674

Μύ

1,636

​

11,664

​

(623)

​

44,351

​

​

​

​

Attributed (note 1)

​

​

​

​

​

​

​

Ογ½Ά΄«Γ½

​

​

​

​

​

​

​

​

​

​

​

SiriusXM

​

Braves

​

Formula One

​

Inter-Group

​

Consolidated

​

​

ΜύΜύΜύΜύ

Group

​

Group

​

Group

​

Eliminations

​

Ογ½Ά΄«Γ½

ΜύΜύΜύΜύ

​

​

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

​

Assets

​

​

​

​

​

​

​

​

​

​

​

​

Current assets:

​

​

​

​

​

​

​

​

​

​

​

​

Cash and cash equivalents

​

$

996

​

151

​

1,684

​

β€”

​

2,831

Μύ

Trade and other receivables, net

​

Μύ

672

​

30

​

121

​

β€”

​

823

Μύ

Other current assets

​

Μύ

225

​

63

​

459

​

(371)

​

376

Μύ

Total current assets

​

Μύ

1,893

​

244

​

2,264

​

(371)

​

4,030

Μύ

Intergroup interests (note 1)

​

Μύ

257

​

β€”

​

169

​

(426)

​

β€”

Μύ

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

​

​

886

​

94

​

38

​

β€”

​

1,018

​

​

​

Μύ

​

​

​

​

​

​

​

​

​

Μύ

Property and equipment, at cost

​

Μύ

2,842

​

977

​

198

​

β€”

​

4,017

Μύ

Accumulated depreciation

​

Μύ

(1,526)

​

(178)

​

(74)

​

β€”

​

(1,778)

Μύ

​

​

​

1,316

​

799

​

124

​

β€”

​

2,239

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Intangible assets not subject to amortization

​

Μύ

​

​

​

​

​

​

​

​

​

Μύ

Goodwill

​

Μύ

15,082

​

180

​

3,956

​

β€”

​

19,218

Μύ

FCC licenses

​

Μύ

8,600

​

β€”

​

β€”

​

β€”

​

8,600

Μύ

Other

​

Μύ

1,242

​

143

​

β€”

​

β€”

​

1,385

Μύ

​

​

Μύ

24,924

​

323

​

3,956

​

β€”

​

29,203

Μύ

Intangible assets subject to amortization, net

​

Μύ

1,471

​

24

​

3,883

​

β€”

​

5,378

Μύ

Other assets

​

​

1,334

​

87

​

757

​

(42)

​

2,136

Μύ

Total assets

​

$

32,081

​

1,571

​

11,191

​

(839)

​

44,004

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Liabilities and Equity

​

​

​

​

​

​

​

​

​

​

​

​

Current liabilities:

​

​

​

​

​

​

​

​

​

​

​

​

Intergroup payable (receivable) (note 4)

​

$

(22)

​

(35)

​

57

​

β€”

​

β€”

​

Accounts payable and accrued liabilities

​

Μύ

1,380

Μύ

53

​

150

​

β€”

​

1,583

​

Current portion of debt (noteΜύ1)

​

Μύ

475

Μύ

59

​

209

​

β€”

​

743

​

Deferred revenue

​

Μύ

1,721

Μύ

90

​

259

​

β€”

​

2,070

​

Other current liabilities

​

Μύ

442

Μύ

6

​

17

​

(371)

​

94

​

Total current liabilities

​

Μύ

3,996

Μύ

173

​

692

​

(371)

​

4,490

​

Long-term debt (note 1)

​

Μύ

12,525

Μύ

611

​

3,550

​

β€”

​

16,686

​

Deferred income tax liabilities (note 3)

​

Μύ

2,116

Μύ

52

​

β€”

​

(42)

​

2,126

​

Redeemable intergroup interests (note 1)

​

Μύ

β€”

​

226

​

200

​

(426)

​

β€”

​

Other liabilities

​

Μύ

689

Μύ

218

​

194

​

β€”

​

1,101

​

Total liabilities

​

Μύ

19,326

Μύ

1,280

​

4,636

​

(839)

​

24,403

​

Equity / Attributed net assets

​

​

8,250

Μύ

291

​

6,550

​

β€”

​

15,091

​

Noncontrolling interests in equity of subsidiaries

​

​

4,505

Μύ

β€”

​

5

​

β€”

​

4,510

​

Total liabilities and equity

​

$

32,081

Μύ

1,571

​

11,191

​

(839)

​

44,004

​

​

​

​

Attributed (note 1)

​

​

​

​

​

Ογ½Ά΄«Γ½

​

​

​

​

​

​

​

​

​

SiriusXM

​

Braves

​

Formula One

​

Consolidated

​

​

​

Group

​

Group

​

Group

​

Ογ½Ά΄«Γ½

​

​

​

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

​

Cash flows from operating activities:

​

​

​

​

​

​

​

​

​

​

Net earnings (loss)

​

$

875

Μύ

(11)

​

(120)

​

744

​

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

​

​

​

​

.

​

​

​

​

​

Depreciation and amortization

​

Μύ

603

Μύ

72

​

397

​

1,072

​

Stock-based compensation

​

Μύ

215

Μύ

12

​

29

​

256

​

Non-cash impairment and restructuring costs

​

​

24

​

β€”

​

β€”

​

24

​

Share of (earnings) loss of affiliates, net

​

Μύ

253

Μύ

(30)

​

(23)

​

200

​

Unrealized (gains) losses on intergroup interests, net

​

​

(121)

​

31

​

90

​

β€”

​

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

​

Μύ

433

Μύ

(3)

​

21

​

451

​

Noncash interest expense

​

​

15

​

β€”

​

1

​

16

​

Losses (gains) on dilution of investment in affiliate

​

​

(152)

​

β€”

​

β€”

​

(152)

​

Loss on early extinguishment of debt

​

​

83

​

β€”

​

(3)

​

80

​

Deferred income tax expense (benefit)

​

Μύ

(12)

Μύ

12

​

(41)

​

(41)

​

Intergroup tax allocation

​

​

9

​

(4)

​

(5)

​

β€”

​

Intergroup tax (payments) receipts

​

​

(2)

​

7

​

(5)

​

β€”

​

Other charges (credits), net

​

Μύ

(15)

Μύ

20

​

(3)

​

2

​

Changes in operating assets and liabilities

​

​

​

​

​

​

​

​

​

​

Current and other assets

​

Μύ

(59)

Μύ

(43)

​

(2)

​

(104)

​

Payables and other liabilities

​

Μύ

(255)

Μύ

(1)

​

145

​

(111)

​

Net cash provided (used) by operating activities

​

Μύ

1,894

Μύ

62

​

481

​

2,437

​

Cash flows from investing activities:

​

​

​

​

​

​

​

​

​

​

Investment of subsidiary initial public offering proceeds into trust account

​

​

β€”

​

β€”

​

(575)

​

(575)

​

Cash proceeds from dispositions of investments

​

​

177

​

2

​

204

​

383

​

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

​

​

(14)

​

β€”

​

β€”

​

(14)

​

Investments in equity method affiliates and debt and equity securities

​

Μύ

(73)

Μύ

β€”

​

(179)

​

(252)

​

Return of investment in equity method affiliates

​

​

1

​

β€”

​

39

​

40

​

Repayment of loans and other cash receipts from equity method affiliates and debt and equity securities

​

​

12

​

β€”

​

β€”

​

12

​

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

​

Μύ

(388)

Μύ

(35)

​

(17)

​

(440)

​

Proceeds from insurance recoveries

​

​

225

Μύ

β€”

​

β€”

​

225

​

Other investing activities, net

​

Μύ

(4)

Μύ

8

​

(72)

​

(68)

​

Net cash provided (used) by investing activities

​

Μύ

(64)

Μύ

(25)

​

(600)

​

(689)

​

Cash flows from financing activities:

​

​

​

​

​

​

​

​

​

​

Borrowings of debt

​

Μύ

6,294

Μύ

117

​