ÎçҚѰť¨

​

​

​

Attributed (note 1)

​

​

​

​

​

​

​

ÎçҚѰť¨

​

​

​

​

​

​

​

​

​

​

​

SiriusXM

​

Braves

​

Formula One

​

Inter-Group

​

Consolidated

​

​

ĚýĚýĚýĚý

Group

​

Group

​

Group

​

Eliminations

​

ÎçҚѰť¨

ĚýĚýĚýĚý

​

​

˛šłž´ÇłÜ˛ÔłŮ˛őĚýžą˛ÔĚýłžžąąôąôžą´Ç˛Ô˛ő

​

Assets

​

​

​

​

​

​

​

​

​

​

​

​

Current assets:

​

​

​

​

​

​

​

​

​

​

​

​

Cash and cash equivalents

​

$

996

​

151

​

1,684

​

—

​

2,831

Ěý

Trade and other receivables, net

​

Ěý

672

​

30

​

121

​

—

​

823

Ěý

Other current assets

​

Ěý

225

​

63

​

459

​

(371)

​

376

Ěý

Total current assets

​

Ěý

1,893

​

244

​

2,264

​

(371)

​

4,030

Ěý

Intergroup interests (note 1)

​

​

257

​

—

​

169

​

(426)

​

—

​

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

​

Ěý

886

​

94

​

38

​

—

​

1,018

Ěý

​

​

​

​

​

​

​

​

​

​

​

​

​

Property and equipment, at cost

​

Ěý

2,842

​

977

​

198

​

—

​

4,017

Ěý

Accumulated depreciation

​

Ěý

(1,526)

​

(178)

​

(74)

​

—

​

(1,778)

Ěý

​

​

Ěý

1,316

​

799

​

124

​

—

​

2,239

Ěý

​

​

​

​

​

​

​

​

​

​

​

​

​

Intangible assets not subject to amortization

​

​

​

​

​

​

​

​

​

​

​

​

Goodwill

​

Ěý

15,082

​

180

​

3,956

​

—

​

19,218

Ěý

FCC licenses

​

Ěý

8,600

​

—

​

—

​

—

​

8,600

Ěý

Other

​

Ěý

1,242

​

143

​

—

​

—

​

1,385

Ěý

​

​

Ěý

24,924

​

323

​

3,956

​

—

​

29,203

Ěý

Intangible assets subject to amortization, net

​

Ěý

1,471

​

24

​

3,883

​

—

​

5,378

Ěý

Other assets

​

Ěý

1,334

​

87

​

757

​

(42)

​

2,136

Ěý

Total assets

​

$

32,081

​

1,571

​

11,191

​

(839)

​

44,004

Ěý

​

​

​

​

​

​

​

​

​

​

​

​

​

Liabilities and Equity

​

​

​

​

​

​

​

​

​

​

​

​

Current liabilities:

​

​

​

​

​

​

​

​

​

​

​

​

Intergroup payable (receivable) (note 4)

​

$

(22)

​

(35)

​

57

​

—

​

—

​

Accounts payable and accrued liabilities

​

​

1,380

Ěý

53

​

150

​

—

​

1,583

​

Current portion of debt (noteĚý1)

​

Ěý

475

Ěý

59

​

209

​

—

​

743

​

Deferred revenue

​

Ěý

1,721

Ěý

90

​

259

​

—

​

2,070

​

Other current liabilities

​

Ěý

442

Ěý

6

​

17

​

(371)

​

94

​

Total current liabilities

​

Ěý

3,996

Ěý

173

​

692

​

(371)

​

4,490

​

Long-term debt (note 1)

​

Ěý

12,525

Ěý

611

​

3,550

​

—

​

16,686

​

Deferred income tax liabilities (note 3)

​

Ěý

2,116

Ěý

52

​

—

​

(42)

​

2,126

​

Redeemable intergroup interests (note 1)

​

​

—

​

226

​

200

​

(426)

​

—

​

Other liabilities

​

Ěý

689

Ěý

218

​

194

​

—

​

1,101

​

Total liabilities

​

Ěý

19,326

Ěý

1,280

​

4,636

​

(839)

​

24,403

​

Equity / Attributed net assets

​

Ěý

8,250

Ěý

291

​

6,550

​

—

​

15,091

​

Noncontrolling interests in equity of subsidiaries

​

Ěý

4,505

Ěý

—

​

5

​

—

​

4,510

​

Total liabilities and equity

​

$

32,081

Ěý

1,571

​

11,191

​

(839)

​

44,004

​

​

​

​

Attributed (note 1)

​

​

​

​

​

​

​

ÎçҚѰť¨

​

​

​

​

​

​

​

​

​

​

​

SiriusXM

​

Braves

​

Formula One

​

Inter-Group

​

Consolidated

​

​

ĚýĚýĚýĚý

Group

​

Group

​

Group

​

Eliminations

​

ÎçҚѰť¨

ĚýĚýĚýĚý

​

​

˛šłž´ÇłÜ˛ÔłŮ˛őĚýžą˛ÔĚýłžžąąôąôžą´Ç˛Ô˛ő

​

Assets

​

​

​

​

​

​

​

​

​

​

​

​

Current assets:

​

​

​

​

​

​

​

​

​

​

​

​

Cash and cash equivalents

​

$

493

​

142

​

587

​

—

​

1,222

Ěý

Trade and other receivables, net

​

Ěý

670

​

28

​

69

​

—

​

767

Ěý

Other current assets

​

Ěý

227

​

97

​

92

​

—

​

416

Ěý

Total current assets

​

Ěý

1,390

​

267

​

748

​

—

​

2,405

Ěý

Intergroup interests (note 1)

​

Ěý

—

​

—

​

292

​

(292)

​

—

Ěý

Investments in affiliates, accounted for using the equity method (noteĚý1)

​

​

644

​

99

​

882

​

—

​

1,625

​

​

​

Ěý

​

​

​

​

​

​

​

​

​

Ěý

Property and equipment, at cost

​

Ěý

2,686

​

923

​

171

​

—

​

3,780

Ěý

Accumulated depreciation

​

Ěý

(1,331)

​

(128)

​

(59)

​

—

​

(1,518)

Ěý

​

​

​

1,355

​

795

​

112

​

—

​

2,262

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Intangible assets not subject to amortization

​

Ěý

​

​

​

​

​

​

​

​

​

Ěý

Goodwill

​

Ěý

15,803

​

180

​

3,956

​

—

​

19,939

Ěý

FCC licenses

​

Ěý

8,600

​

—

​

—

​

—

​

8,600

Ěý

Other

​

Ěý

1,262

​

143

​

—

​

—

​

1,405

Ěý

​

​

Ěý

25,665

​

323

​

3,956

​

—

​

29,944

Ěý

Intangible assets subject to amortization, net

​

Ěý

1,603

​

34

​

4,303

​

—

​

5,940

Ěý

Other assets

​

​

764

​

75

​

1,212

​

(38)

​

2,013

Ěý

Total assets

​

$

31,421

​

1,593

​

11,505

​

(330)

​

44,189

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Liabilities and Equity

​

​

​

​

​

​

​

​

​

​

​

​

Current liabilities:

​

​

​

​

​

​

​

​

​

​

​

​

Intergroup payable (receivable) (note 4)

​

$

(23)

​

(9)

​

32

​

—

​

—

​

Accounts payable and accrued liabilities

​

Ěý

1,294

Ěý

63

​

264

​

—

​

1,621

​

Current portion of debt (noteĚý1)

​

Ěý

1

Ěý

59

​

—

​

—

​

60

​

Deferred revenue

​

Ěý

1,930

Ěý

70

​

113

​

—

​

2,113

​

Other current liabilities

​

Ěý

72

Ěý

5

​

17

​

—

​

94

​

Total current liabilities

​

Ěý

3,274

Ěý

188

​

426

​

—

​

3,888

​

Long-term debt (note 1)

​

Ěý

9,244

Ěý

495

​

5,677

​

—

​

15,416

​

Deferred income tax liabilities (note 3)

​

Ěý

1,890

Ěý

61

​

—

​

(38)

​

1,913

​

Redeemable intergroup interests (note 1)

​

Ěý

24

​

268

​

—

​

(292)

​

—

​

Other liabilities

​

Ěý

683

Ěý

203

​

161

​

—

​

1,047

​

Total liabilities

​

Ěý

15,115

Ěý

1,215

​

6,264

​

(330)

​

22,264

​

Equity / Attributed net assets

​

​

10,678

Ěý

378

​

5,239

​

—

​

16,295

​

Noncontrolling interests in equity of subsidiaries

​

​

5,628

Ěý

—

​

2

​

—

​

5,630

​

Total liabilities and equity

​

$

31,421

Ěý

1,593

​

11,505

​

(330)

​

44,189

​

​

​

​

Attributed (note 1)

​

​

​

​

​

ÎçҚѰť¨

​

​

​

​

​

​

​

​

​

SiriusXM

​

Braves

​

Formula One

​

Consolidated

​

​

​

Group

​

Group

​

Group

​

ÎçҚѰť¨

​

​

​

˛šłž´ÇłÜ˛ÔłŮ˛őĚýžą˛ÔĚýłžžąąôąôžą´Ç˛Ô˛ő

​

Cash flows from operating activities:

​

​

​

​

​

​

​

​

​

​

Net earnings (loss)

​

$

(719)

Ěý

(78)

​

(594)

​

(1,391)

​

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

​

​

​

​

.

​

​

​

​

​

Depreciation and amortization

​

Ěý

573

Ěý

69

​

441

​

1,083

​

Stock-based compensation

​

Ěý

234

Ěý

6

​

21

​

261

​

Impairment of intangible assets

​

​

976

​

—

​

—

​

976

​

Share of (earnings) loss of affiliates, net

​

Ěý

484

Ěý

(6)

​

108

​

586

​

Unrealized (gains) losses on intergroup interests, net

​

​

(125)

​

(42)

​

167

​

—

​

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

​

Ěý

521

Ěý

10

​

(129)

​

402

​

Noncash interest expense

​

​

12

​

1

​

4

​

17

​

Losses (gains) on dilution of investment in affiliate

​

​

(4)

​

—

​

—

​

(4)

​

Loss on early extinguishment of debt

​

​

40

​

—

​

—

​

40

​

Deferred income tax expense (benefit)

​

Ěý

40

Ěý

(10)

​

(125)

​

(95)

​

Intergroup tax allocation

​

​

5

​

(28)

​

23

​

—

​

Intergroup tax (payments) receipts

​

​

8

​

2

​

(10)

​

—

​

Other charges (credits), net

​

Ěý

26

Ěý

9

​

—

​

35

​

Changes in operating assets and liabilities

​

​

​

​

​

​

​

​

​

​

Current and other assets

​

Ěý

32

Ěý

(29)

​

(37)

​

(34)

​

Payables and other liabilities

​

Ěý

(179)

Ěý

41

​

(8)

​

(146)

​

Net cash provided (used) by operating activities

​

Ěý

1,924

Ěý

(55)

​

(139)

​

1,730

​

Cash flows from investing activities:

​

​

​

​

​

​

​

​

​

​

Cash proceeds from dispositions of investments

​

​

—

​

—

​

13

​

13

​

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

​

​

(300)

​

—

​

—

​

(300)

​

Investments in equity method affiliates and debt and equity securities

​

Ěý

(96)

Ěý

—

​

(17)

​

(113)

​

Return of investments in equity method affiliates

​

​

—

​

—

​

105

​

105

​

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

​

​

20

​

—

​

—

​

20

​

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

​

Ěý

(350)

Ěý

(81)

​

(21)

​

(452)

​

Other investing activities, net

​

Ěý

(8)

Ěý

4

​

(5)

​

(9)

​

Net cash provided (used) by investing activities

​

Ěý

(734)

Ěý

(77)

​

75

​

(736)

​

Cash flows from financing activities:

​

​

​

​

​

​

​

​

​

​

Borrowings of debt

​

Ěý

4,149

Ěý

228

​

521

​

4,898

​

Repayments of debt

​

Ěý

(2,203)

Ěý

(114)

​

(614)

​

(2,931)

​

Intergroup Loan (repayment) borrowing

​

​

(750)

​

—

​

750

​

—

​

ÎçҚѰť¨ SiriusXM stock repurchases

​

​

(249)

Ěý

—

​

(69)

​

(318)

​

Subsidiary shares repurchased by subsidiary

​

Ěý

(1,555)

Ěý

—

​

—

​

(1,555)

​

Reattribution between ÎçҚѰť¨ SiriusXM Group and ÎçҚѰť¨ Formula One Group

​

​

(608)

​

—

​

608

​

—

​

Proceeds from ÎçҚѰť¨ SiriusXM common stock rights offering

​

​

754

​

—

​

—

​

754

​

Cash dividends paid by subsidiary

​

​

(64)

Ěý

—

​

—

​

(64)

​

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

​

Ěý

(116)

Ěý

(1)

​

(3)

​

(120)

​

Other financing activities, net

​

​

(47)

​

(8)

​

(35)

​

(90)

​

Net cash provided (used) by financing activities

​

Ěý

(689)

Ěý

105

​

1,158

​

574

​

Effect of foreign exchange rates on cash, cash equivalents and restricted cash

​

​

—

Ěý

—

​

3

​

3

​

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

​

Ěý

501

Ěý

(27)

​

1,097

​

1,571

​

Cash, cash equivalents and restricted cash at beginning of period

​

Ěý

507

Ěý

212

​

587

​

1,306

​

Cash, cash equivalents and restricted cash at end of period

​

$

1,008