10-KPeriod: FY2014

Liberty Media Corp Annual Report, Year Ended Dec 31, 2014

Filed February 26, 2015For Securities:FWONKFWONAFWONB

Summary

Liberty Media Corporation's 2014 10-K filing reveals a company undergoing significant restructuring, primarily through spin-offs, while consolidating its majority ownership of Sirius XM Holdings Inc. The company's operations are heavily influenced by Sirius XM, which constitutes its primary reportable segment. Other notable assets include an equity investment in Live Nation Entertainment and the Atlanta Braves baseball franchise. The financial results for the year ended December 31, 2014, reflect the impact of the Broadband Spin-Off completed in November 2014, which separated Liberty Broadband Corporation. The company's revenue grew, largely driven by Sirius XM's performance, and operating income saw an increase. However, the company also navigated considerable debt levels, particularly at the subsidiary level, and managed its investment portfolio which included stakes in various media companies. The focus remains on managing these diverse assets and optimizing financial performance.

Financial Highlights

47 data points
Beta

Revenue

$4.45B

Net Income

$178.00M

4.0% Net Margin

EPS (Diluted)

$0.52

Total Assets

$30.27B

Cash & Equivalents

$681.00M

Free Cash Flow

$931.00M

Financial Statements
Beta
Revenue$4.45B
SG&A Expenses$873.00M
Operating Expenses$3.61B
Operating Income$841.00M
Interest Expense$255.00M
Net Income$178.00M
EPS (Basic)$0.52
EPS (Diluted)$0.52
Shares Outstanding (Basic)342.00M
Shares Outstanding (Diluted)345.00M

Key Highlights

  • 1Consolidation of Sirius XM Holdings Inc. in Q1 2013 significantly impacted financial results, with Liberty owning over 50% of Sirius XM's voting stock.
  • 2Completed the spin-off of Liberty Broadband Corporation in November 2014, separating interests in Charter Communications, TruePosition, and Time Warner Cable.
  • 3Significant revenue growth for the year ended December 31, 2014, primarily driven by Sirius XM's performance.
  • 4The company reported total assets of $31.2 billion and stockholders' equity of $11.4 billion as of December 31, 2014.
  • 5Liberty Media holds a significant equity method investment in Live Nation Entertainment, representing approximately 27% of its outstanding shares.
  • 6The company has not paid cash dividends and has no present intention to do so.
  • 7Substantial debt exists at both the corporate level ($1.2 billion) and subsidiary level (SIRIUS XM: $4.5 billion) as of December 31, 2014.

Frequently Asked Questions

Liberty Media Corporation's primary business focus, as of December 31, 2014, is its ownership interest in Sirius XM Holdings Inc., which is its main reportable segment. The company also owns the Atlanta Braves baseball franchise and holds an equity investment in Live Nation Entertainment.

In 2014, Liberty Media completed the spin-off of Liberty Broadband Corporation in November. This action separated its interests in companies like Charter Communications, TruePosition, and Time Warner Cable into a new entity, Liberty Broadband.

Liberty Media began consolidating Sirius XM in the first quarter of 2013 after acquiring a controlling interest. This consolidation significantly increased Liberty Media's reported revenues, assets, and operating income, as Sirius XM's financial performance is now fully integrated into Liberty Media's results.

Liberty Media Corporation has not paid any cash dividends on its common stock and currently has no intention of doing so. Future dividend payments will be determined by the board of directors based on earnings, financial condition, and other factors.