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Information About Liberty's Operating Segments (Tables) | 6 Months Ended
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Jun. 30, 2025
Information About Liberty's Operating Segments |
Schedule of performance measures | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three months ended June 30, 2025 | ​
​ |  | ​ | ​ |  | Corporate and | ​ | ​ |  | ​ |
​ | ​ | Formula One | ​ | Other | ​ | Eliminations | ​ | Total | ​
​ | ​ | amounts in millions | ​
Revenue: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Primary revenue | ​ | $ | 1,032 | ​ | — | ​ | — | ​ | 1,032 | ​
Other revenue | ​ | ​ | 194 | ​ | 145 | ​ | (30) | ​ | 309 | ​
Total revenue | ​ | ​ | 1,226 | ​ | 145 | ​ | (30) | ​ | 1,341 | ​
Operating expenses: | ​ | ​ | ​ |  | ​ | ​ | ​ |  | ​ |
Team payments, excluding Concorde incentive payments | ​ | ​ | (513) | ​ | — | ​ | — | ​ | (513) | ​
Other cost of revenue | ​ | ​ | (274) | ​ | (110) | ​ | 30 | ​ | (354) | ​
Selling, general and administrative, excluding stock-based compensation | ​ | ​ | (78) | ​ | (32) | ​ | — | ​ | (110) | ​
Adjusted OIBDA | ​ | $ | 361 | ​ | 3 | ​ | — | ​ | 364 | ​
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Six months ended June 30, 2025 | ​
​ |  | ​ | ​ |  | Corporate and | ​ | ​ |  | ​ |
​ | ​ | Formula One | ​ | Other | ​ | Eliminations | ​ | Total | ​
​ | ​ | amounts in millions | ​
Revenue: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Primary revenue | ​ | $ | 1,351 | ​ | — | ​ | — | ​ | 1,351 | ​
Other revenue | ​ | ​ | 278 | ​ | 198 | ​ | (39) | ​ | 437 | ​
Total revenue | ​ | ​ | 1,629 | ​ | 198 | ​ | (39) | ​ | 1,788 | ​
Operating expenses: | ​ | ​ | ​ |  | ​ | ​ | ​ |  | ​ |
Team payments, excluding Concorde incentive payments | ​ | ​ | (627) | ​ | — | ​ | — | ​ | (627) | ​
Other cost of revenue | ​ | ​ | (402) | ​ | (152) | ​ | 39 | ​ | (515) | ​
Selling, general and administrative, excluding stock-based compensation | ​ | ​ | (154) | ​ | (59) | ​ | — | ​ | (213) | ​
Adjusted OIBDA | ​ | $ | 446 | ​ | (13) | ​ | — | ​ | 433 | ​
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three months ended June 30, 2024 | ​
​ |  | ​ | ​ |  | Corporate and | ​ | ​ |  | ​ |
​ | ​ | Formula One | ​ | Other | ​ | Eliminations | ​ | Total | ​
​ | ​ | amounts in millions | ​
Revenue: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Primary revenue | ​ | $ | 739 | ​ | — | ​ | — | ​ | 739 | ​
Other revenue | ​ | ​ | 132 | ​ | 141 | ​ | (24) | ​ | 249 | ​
Total revenue | ​ | ​ | 871 | ​ | 141 | ​ | (24) | ​ | 988 | ​
Operating expenses: | ​ | ​ | ​ |  | ​ | ​ | ​ |  | ​ |
Team payments | ​ | ​ | (435) | ​ | — | ​ | — | ​ | (435) | ​
Other cost of revenue | ​ | ​ | (210) | ​ | (112) | ​ | 24 | ​ | (298) | ​
Selling, general and administrative, excluding stock-based compensation | ​ | ​ | (66) | ​ | (25) | ​ | — | ​ | (91) | ​
Adjusted OIBDA | ​ | $ | 160 | ​ | 4 | ​ | — | ​ | 164 | ​
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Six months ended June 30, 2024 | ​
​ |  | ​ | ​ |  | Corporate and | ​ | ​ |  | ​ |
​ | ​ | Formula One | ​ | Other | ​ | Eliminations | ​ | Total | ​
​ | ​ | amounts in millions | ​
Revenue: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Primary revenue | ​ | $ | 1,202 | ​ | — | ​ | — | ​ | 1,202 | ​
Other revenue | ​ | ​ | 222 | ​ | 185 | ​ | (34) | ​ | 373 | ​
Total revenue | ​ | ​ | 1,424 | ​ | 185 | ​ | (34) | ​ | 1,575 | ​
Operating expenses: | ​ | ​ | ​ |  | ​ | ​ | ​ |  | ​ |
Team payments | ​ | ​ | (598) | ​ | — | ​ | — | ​ | (598) | ​
Other cost of revenue | ​ | ​ | (333) | ​ | (141) | ​ | 34 | ​ | (440) | ​
Selling, general and administrative, excluding stock-based compensation | ​ | ​ | (125) | ​ | (47) | ​ | — | ​ | (172) | ​
Adjusted OIBDA | ​ | $ | 368 | ​ | (3) | ​ | — | ​ | 365 | ​
Schedule of other information by segment | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | June 30, 2025 | ​
​ |  | Total |  | Investments |
​ | ​ | assets | ​ | in affiliates | ​
​ | ​ | amounts in millions | ​
Formula One Group | ​ | ​ | ​ | ​ | ​ | ​
Formula 1 | ​ | $ | 9,661 | ​ | 2 | ​
Corporate and other | ​ |  | 2,974 |  | 31 | ​
Intergroup elimination | ​ | ​ | (150) | ​ | — | ​
Total Formula One Group | ​ | ​ | 12,485 | ​ | 33 | ​
Liberty Live Group | ​ | ​ | ​ | ​ | ​ | ​
Corporate and other | ​ | ​ | 1,371 | ​ | 589 | ​
Total Liberty Live Group | ​ | ​ | 1,371 | ​ | 589 | ​
Elimination | ​ | ​ | (35) | ​ | — | ​
Consolidated Liberty | ​ | $ | 13,821 |  | 622 | ​
​
Schedule Of reconciliation of adjusted OIBDA to operating income (loss) and earnings (loss) from continuing operations before income taxes | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three months ended | ​ | Six months ended | ​
​ | ​ | June 30, | ​ | June 30, | ​
​ |  | 2025 |  | 2024 |  | 2025 |  | 2024 |
​ | ​ | amounts in millions | ​
Adjusted OIBDA | ​ | $ | 364 |  | 164 |  | 433 |  | 365 | ​
Concorde incentive payments | ​ | ​ | — | ​ | — | ​ | (50) | ​ | — | ​
Acquisition costs | ​ | ​ | (3) | ​ | (11) | ​ | (14) | ​ | (20) | ​
Stock-based compensation | ​ |  | (8) |  | (7) |  | (10) |  | (20) | ​
Depreciation and amortization | ​ |  | (80) |  | (89) |  | (157) |  | (175) | ​
Operating income (loss) | ​ | ​ | 273 | ​ | 57 | ​ | 202 | ​ | 150 | ​
Interest expense | ​ |  | (57) |  | (60) |  | (112) |  | (122) | ​
Share of earnings (losses) of affiliates, net | ​ |  | 71 |  | 83 |  | 72 |  | 59 | ​
Realized and unrealized gains (losses) on financial instruments, net | ​ |  | (129) |  | 87 |  | (64) |  | 66 | ​
Other, net | ​ |  | 70 |  | 26 |  | 106 |  | 47 | ​
Earnings (loss) from continuing operations before income taxes | ​ | $ | 228 |  | 193 |  | 204 |  | 200 | ​
​

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