$FWONB

Liberty Media Corp

CIK:0001560385|SEC Filings

Condensed Consolidated Statements of Operations - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Revenue:
Total revenue	$ 934	$ 1,341	$ 1,645	$ 1,788
Operating costs and expenses:
Selling, general and administrative, including stock-based compensation	129	111	251	212
Acquisition costs		3		14
Depreciation and amortization	112	80	224	157
Total operating costs and expenses	846	1,061	1,493	1,575
Operating income (loss)	88	280	152	213
Other income (expense):
Interest expense	(68)	(49)	(136)	(97)
Realized and unrealized gains (losses) on financial instruments, net	(1)	160	56	235
Other, net	14	68	19	99
Total other income (expense)	(55)	179	(61)	237
Earnings (loss) from continuing operations before income taxes	33	459	91	450
Income tax (expense) benefit	(25)	(73)	(30)	(47)
Net earnings (loss) from continuing operations	8	386	61	403
Net earnings (loss) from discontinued operations		(182)		(194)
Net earnings (loss)	8	204	61	209
Less net earnings (loss) attributable to the redeemable noncontrolling interests	3		(1)
Net earnings (loss) attributable to Liberty stockholders	5	204	62	209
Formula One Group
Other income (expense):
Net earnings (loss) attributable to Liberty stockholders	5	382	62	404
Net earnings (loss) from continuing operations attributable to Liberty stockholders:	$ 5	$ 382	$ 62	$ 404
Basic net earnings (loss) attributable to Liberty stockholders per common share
Basic net earnings (loss) from continuing operations attributable to Liberty stockholders per common share	$ 0.02	$ 1.53	$ 0.25	$ 1.62
Diluted net earnings (loss) attributable to Liberty stockholders per common share:
Diluted net earnings (loss) from continuing operations attributable to Liberty stockholders per common share	$ 0.02	$ 1.52	$ 0.05	$ 1.55
Liberty Live Group
Other income (expense):
Net earnings (loss) from continuing operations attributable to Liberty stockholders:		$ 4		$ (1)
Net earnings (loss) from discontinued operations attributable to Liberty stockholders:		$ (182)		$ (194)
Basic net earnings (loss) attributable to Liberty stockholders per common share
Basic net earnings (loss) from continuing operations attributable to Liberty stockholders per common share		$ 0.05		$ (0.01)
Basic net earnings (loss) from discontinued operations attributable to Liberty stockholders per common share		(1.98)		(2.11)
Diluted net earnings (loss) attributable to Liberty stockholders per common share:
Diluted net earnings (loss) from continuing operations attributable to Liberty stockholders per common share		0.05		(0.01)
Diluted net earnings (loss) from discontinued operations attributable to Liberty stockholders per common share		$ (1.98)		$ (2.11)
Motorsport
Revenue:
Total revenue	$ 934	$ 1,203	$ 1,645	$ 1,603
Operating costs and expenses:
Cost of services	$ 605	779	$ 1,018	1,065
Other
Revenue:
Total revenue		138		185
Operating costs and expenses:
Cost of services		$ 88		$ 127

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net earnings (loss)	$ 204	$ 61	$ 209
Adjustments to reconcile net earnings (loss) to net cash provided by operating activities:
(Earnings) loss from discontinued operations	182		194
Depreciation and amortization	80	224	157
Stock-based compensation		11	8
Realized and unrealized (gains) losses on financial instruments, net	(160)	(56)	(235)
Deferred income tax expense (benefit)		17	8
Other, net		11	(29)
Changes in operating assets and liabilities
Current and other assets		(268)	(147)
Payables and other liabilities		673	464
Net cash provided (used) by operating activities		673	629
Cash flows from investing activities:
Capital expended for property and equipment, including internal-use software and website development		(65)	(55)
Cash (paid) received for acquisitions, net of cash acquired			(131)
Cash proceeds from foreign currency contracts			71
Cash proceeds from dispositions of investments			26
Investments in equity method affiliates and debt and equity securities		(11)	(17)
Other investing activities, net		(2)	(14)
Net cash provided (used) by investing activities		(78)	(120)
Cash flows from financing activities:
Borrowings of debt		116
Repayments of debt		(257)	(11)
Other financing activities, net		(38)	19
Net cash provided (used) by financing activities		(179)	8
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash		(6)	9
Net cash provided (used) by discontinued operations:
Cash provided (used) by operating activities		0	(17)
Net cash provided (used) by discontinued operations		0	(17)
Net increase (decrease) in cash, cash equivalents and restricted cash		410	509
Cash, cash equivalents and restricted cash at beginning of period		1,055	2,963
Cash, cash equivalents and restricted cash at end of period	$ 3,472	$ 1,465	$ 3,472

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 1,465	$ 1,055
Trade and other receivables, net	255	115
Contract assets	87	114
Other current assets	302	89
Total current assets	2,109	1,373
Property and equipment, at cost	1,138	1,087
Accumulated depreciation	(256)	(219)
Property and equipment, net	882	868
Goodwill	6,877	7,025
Intangible assets subject to amortization, net	4,843	5,102
Deferred income tax assets	528	539
Other assets	640	491
Total assets	15,879	15,398
Current liabilities:
Accounts payable and accrued liabilities	417	575
Current portion of debt	72	52
Deferred revenue	1,117	263
Other current liabilities	59	49
Total current liabilities	1,665	939
Long-term debt	4,852	5,048
Deferred income tax liabilities	589	656
Other liabilities	395	305
Total liabilities	7,501	6,948
Redeemable noncontrolling interests in equity of subsidiary	759	693
Stockholders' equity:
Preferred stock, $.01 par value. Authorized 50,000,000 shares; no shares issued
Additional paid-in capital	6
Accumulated other comprehensive earnings (loss), net of taxes	(149)	(30)
Retained earnings	7,759	7,785
Total equity	7,619	7,757
Commitments and contingencies
Total liabilities and equity	15,879	15,398
Series A common stock
Stockholders' equity:
Common stock value	0	0
Series B common stock
Stockholders' equity:
Common stock value	0	0
Series C common stock
Stockholders' equity:
Common stock value	$ 3	$ 2