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Discontinued Operations | 6 Months Ended
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Jun. 30, 2026
Discontinued Operations |
Discontinued Operations | (2) Discontinued Operations On December 15, 2025, the Company completed the Liberty Live Split-Off. The Liberty Live Split-Off was accomplished by a redemption by the Company of each outstanding share of its Liberty Live common stock in exchange for one share of the corresponding series of common stock of Liberty Live Holdings. As a result of the Liberty Live Split-Off, Liberty Live Holdings is now an independent, publicly traded company. As disclosed in note 1, Liberty’s interest in Live Nation (including related debt and derivative instruments) and corporate cash and expenses previously attributed to the Liberty Live Group are presented as discontinued operations in the Company’s condensed consolidated financial statements as the Liberty Live Split-Off represents a strategic shift that had a major effect on the Company’s operations and financial results. The following table provides details about the major classes of line items constituting earnings (loss) from discontinued operations, net of tax as presented in the condensed consolidated statements of operations. ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three months ended | ​ ​ ​ | Six months ended | ​
​ | ​ | June 30, 2025 | ​ | June 30, 2025 | ​
​ | ​ | amounts in millions | ​
Selling, general and administrative | ​ | $ | 7 |  | 11 | ​
​ | ​ |  | 7 |  | 11 | ​
Operating income (loss) | ​ |  | (7) |  | (11) | ​
Other income (expense): | ​ | ​ | ​ | ​ | ​ | ​
Interest expense | ​ |  | (8) |  | (15) | ​
Share of earnings (losses) of affiliates, net | ​ | ​ | 69 | ​ | 73 | ​
Realized and unrealized gains (losses) on financial instruments, net | ​ | ​ | (289) | ​ | (299) | ​
Other, net | ​ |  | 4 |  | 6 | ​
​ | ​ |  | (224) |  | (235) | ​
Earnings (loss) from discontinued operations before income taxes | ​ |  | (231) |  | (246) | ​
Income tax (expense) benefit | ​ |  | 49 |  | 52 | ​
Net earnings (loss) from discontinued operations | ​ |  | (182) |  | (194) | ​
Less net earnings (loss) from discontinued operations attributable to the noncontrolling interests | ​ |  | — |  | — | ​
Net earnings (loss) from discontinued operations attributable to Liberty stockholders | ​ | $ | (182) |  | (194) | ​
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- Definition The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/205-20/tableOfContent Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/360/tableOfContent + Details
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