Qurate Retail (QRTEP) 10-K 25 Feb 10 2009 FY Annual report Financial data

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS (USD $)
In Millions	Dec. 31, 2009	Dec. 31, 2008
Assets
Cash and cash equivalents	$4,835	$3,060
Trade and other receivables, net	1,518	1,508
Inventory, net	985	1,032
Program rights	469	491
Financial instruments (note 9)	752	1,133
Other current assets	168	232
Assets of discontinued operations--current (note 5)	0	163
Total current assets	8,727	7,619
Investments in available-for-sale securities and other cost investments, including $851 million and $392 million pledged as collateral for share borrowing arrangements (note 7)	4,120	2,857
Long-term financial instruments (note 9)	0	1,166
Investments in affiliates, accounted for using the equity method (note 8)	1,030	1,136
Property and equipment, at cost	2,163	2,023
Accumulated depreciation	(858)	(695)
Property and equipment, net	1,305	1,328
Intangible assets not subject to amortization (note 10):
Goodwill	6,225	6,201
Trademarks	2,508	2,505
Other	153	158
Total intangible assets not subject to amortization	8,886	8,864
Intangible assets subject to amortization, net (note 10)	3,027	3,356
Other assets, at cost, net of accumulated amortization	1,536	1,529
Assets of discontinued operations (note 5)	0	14,048
Total assets	28,631	41,903
Liabilities and Equity
Accounts payable	598	538
Accrued liabilities	1,037	1,092
Financial instruments (note 9)	1,002	553
Current portion of debt (note 11)	1,932	616
Current deferred income tax liabilities (note 12)	1,247	773
Other current liabilities	360	291
Liabilities of discontinued operations--current (note 5)	0	277
Total current liabilities	6,176	4,140
Long-term debt, including $2,254 million and $1,691 million measured at fair value (note 11)	7,842	9,630
Long-term financial instruments (note 9)	132	189
Deferred income tax liabilities (note 12)	2,675	3,143
Other liabilities	1,568	1,546
Liabilities of discontinued operations (note 5)	0	3,498
Total liabilities	18,393	22,146
Equity
Preferred stock, $.01 par value. Authorized 50,000,000 shares; no shares issued	0	0
Additional paid-in capital	8,900	25,132
Accumulated other comprehensive earnings, net of taxes (note 17)	352	70
Retained earnings (deficit)	850	(5,612)
Total stockholders' equity	10,109	19,602
Noncontrolling interests in equity of subsidiaries	129	155
Total equity	10,238	19,757
Commitments and contingencies (note 19)
Total liabilities and equity	28,631	41,903
Series A [Member] | Segment, Liberty Capital [Member]
Equity
Common stock value	1	1
Series A [Member] | Segment, Liberty Starz [Member]
Equity
Common stock value	0	5
Series A [Member] | Segment, Liberty Interactive [Member]
Equity
Common stock value	6	6
Series B [Member] | Segment, Liberty Capital [Member]
Equity
Common stock value	0	0
Series B [Member] | Segment, Liberty Starz [Member]
Equity
Common stock value	0	0
Series B [Member] | Segment, Liberty Interactive [Member]
Equity
Common stock value	0	0
Segment, Liberty Capital [Member]
Assets
Cash and cash equivalents	3,157	1,496
Trade and other receivables, net	77	156
Inventory, net	0	0
Program rights	0	0
Financial instruments (note 9)	752	1,119
Current deferred tax assets	0	0
Other current assets	101	202
Assets of discontinued operations--current (note 5)		0
Total current assets	4,087	2,973
Investments in available-for-sale securities and other cost investments, including $851 million and $392 million pledged as collateral for share borrowing arrangements (note 7)	3,355	2,118
Long-term financial instruments (note 9)		1,166
Investments in affiliates, accounted for using the equity method (note 8)	135	223
Property and equipment, net	166	147
Intangible assets not subject to amortization (note 10):
Goodwill	201	205
Trademarks	14	14
Other		158
Intangible assets subject to amortization, net (note 10)	185	230
Other assets, at cost, net of accumulated amortization	1,230	1,127
Assets of discontinued operations (note 5)		0
Total assets	9,373	8,361
Liabilities and Equity
Accounts payable	13	24
Accrued liabilities	153	212
Intergroup payable (receivable)	(36)	(86)
Intergroup notes	(158)
Financial instruments (note 9)	859	398
Current portion of debt (note 11)	1,265	437
Current deferred income tax liabilities (note 12)	1,530	1,029
Other current liabilities	36	71
Liabilities of discontinued operations--current (note 5)		0
Total current liabilities	3,662	2,085
Long-term debt, including $2,254 million and $1,691 million measured at fair value (note 11)	2,388	2,626
Long-term financial instruments (note 9)	2	11
Deferred income tax liabilities (note 12)	730	1,166
Other liabilities	1,316	1,351
Liabilities of discontinued operations (note 5)		0
Total liabilities	8,098	7,239
Equity
Total stockholders' equity	1,275	1,121
Noncontrolling interests in equity of subsidiaries	0	1
Commitments and contingencies (note 19)
Total liabilities and equity	9,373	8,361
Segment, Liberty Starz [Member]
Assets
Cash and cash equivalents	794	732
Trade and other receivables, net	191	181
Inventory, net	0	0
Program rights	469	492
Financial instruments (note 9)	0	14
Current deferred tax assets	88	55
Other current assets	2	2
Assets of discontinued operations--current (note 5)		163
Total current assets	1,544	1,639
Investments in available-for-sale securities and other cost investments, including $851 million and $392 million pledged as collateral for share borrowing arrangements (note 7)	31	0
Long-term financial instruments (note 9)		0
Investments in affiliates, accounted for using the equity method (note 8)	0	12
Property and equipment, net	109	117
Intangible assets not subject to amortization (note 10):
Goodwill	133	137
Trademarks	2	0
Other		0
Intangible assets subject to amortization, net (note 10)	2	11
Other assets, at cost, net of accumulated amortization	377	388
Assets of discontinued operations (note 5)		14,048
Total assets	2,198	16,352
Liabilities and Equity
Accounts payable	7	1
Accrued liabilities	116	140
Intergroup payable (receivable)	(80)	15
Intergroup notes	(158)
Financial instruments (note 9)	0	0
Current portion of debt (note 11)	4	4
Current deferred income tax liabilities (note 12)	0	0
Other current liabilities	165	180
Liabilities of discontinued operations--current (note 5)		277
Total current liabilities	54	617
Long-term debt, including $2,254 million and $1,691 million measured at fair value (note 11)	44	48
Long-term financial instruments (note 9)	0	0
Deferred income tax liabilities (note 12)	6	0
Other liabilities	54	9
Liabilities of discontinued operations (note 5)		3,498
Total liabilities	158	4,172
Equity
Total stockholders' equity	2,040	12,180
Noncontrolling interests in equity of subsidiaries	0	0
Commitments and contingencies (note 19)
Total liabilities and equity	2,198	16,352
Segment, Liberty Interactive [Member]
Assets
Cash and cash equivalents	884	832
Trade and other receivables, net	1,250	1,171
Inventory, net	985	1,032
Program rights	0	0
Financial instruments (note 9)	0	0
Current deferred tax assets	195	201
Other current assets	65	46
Assets of discontinued operations--current (note 5)		0
Total current assets	3,379	3,282
Investments in available-for-sale securities and other cost investments, including $851 million and $392 million pledged as collateral for share borrowing arrangements (note 7)	734	739
Long-term financial instruments (note 9)		0
Investments in affiliates, accounted for using the equity method (note 8)	895	901
Property and equipment, net	1,030	1,064
Intangible assets not subject to amortization (note 10):
Goodwill	5,891	5,859
Trademarks	2,492	2,491
Other		0
Intangible assets subject to amortization, net (note 10)	2,840	3,115
Other assets, at cost, net of accumulated amortization	82	36
Assets of discontinued operations (note 5)		0
Total assets	17,343	17,487
Liabilities and Equity
Accounts payable	578	513
Accrued liabilities	768	741
Intergroup payable (receivable)	116	71
Intergroup notes	316
Financial instruments (note 9)	143	155
Current portion of debt (note 11)	663	175
Current deferred income tax liabilities (note 12)	0	0
Other current liabilities	159	55
Liabilities of discontinued operations--current (note 5)		0
Total current liabilities	2,743	1,710
Long-term debt, including $2,254 million and $1,691 million measured at fair value (note 11)	5,410	6,956
Long-term financial instruments (note 9)	130	178
Deferred income tax liabilities (note 12)	1,939	1,999
Other liabilities	198	187
Liabilities of discontinued operations (note 5)		0
Total liabilities	10,420	11,030
Equity
Total stockholders' equity	6,794	6,303
Noncontrolling interests in equity of subsidiaries	129	154
Commitments and contingencies (note 19)
Total liabilities and equity	17,343	17,487
Segment, Inter-group eliminations [Member]
Assets
Cash and cash equivalents	0	0
Trade and other receivables, net	0	0
Inventory, net	0	0
Program rights	0	(1)
Financial instruments (note 9)	0	0
Current deferred tax assets	(283)	(256)
Other current assets	0	(18)
Assets of discontinued operations--current (note 5)		0
Total current assets	(283)	(275)
Investments in available-for-sale securities and other cost investments, including $851 million and $392 million pledged as collateral for share borrowing arrangements (note 7)	0	0
Long-term financial instruments (note 9)		0
Investments in affiliates, accounted for using the equity method (note 8)	0	0
Property and equipment, net	0	0
Intangible assets not subject to amortization (note 10):
Goodwill	0	0
Trademarks	0	0
Other		0
Intangible assets subject to amortization, net (note 10)	0	0
Other assets, at cost, net of accumulated amortization	0	(22)
Total assets	(283)	(297)
Liabilities and Equity
Accounts payable	0	0
Accrued liabilities	0	(1)
Intergroup payable (receivable)	0	0
Intergroup notes	0
Financial instruments (note 9)	0	0
Current portion of debt (note 11)	0	0
Current deferred income tax liabilities (note 12)	(283)	(256)
Other current liabilities	0	(15)
Liabilities of discontinued operations--current (note 5)		0
Total current liabilities	(283)	(272)
Long-term debt, including $2,254 million and $1,691 million measured at fair value (note 11)	0	0
Long-term financial instruments (note 9)	0	0
Deferred income tax liabilities (note 12)	0	(22)
Other liabilities	0	(1)
Total liabilities	(283)	(295)
Equity
Total stockholders' equity	0	(2)
Noncontrolling interests in equity of subsidiaries	0	0
Commitments and contingencies (note 19)
Total liabilities and equity	($283)	($297)

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)
In Millions, except Share data	12 Months Ended Dec. 31, 2009	12 Months Ended Dec. 31, 2008
CONSOLIDATED BALANCE SHEETS (Parenthetical)
Available-for-sale Securities Pledged as Collateral	$851	$392
Carrying value of debt measured at fair value	$2,254	$1,691
Preferred Stock, Par or Stated Value Per Share	0.01	0.01
Preferred Stock, Shares Authorized	50,000,000	50,000,000
Preferred Stock, Shares Issued	0	0
Series A [Member] | Segment, Liberty Capital [Member]
CONSOLIDATED BALANCE SHEETS (Parenthetical)
Common Stock, Par or Stated Value Per Share	0.01	0.01
Common Stock, Shares Authorized	2,000,000,000	2,000,000,000
Common Stock, Shares, Issued	89,814,862	90,042,840
Common Stock, Shares, Outstanding	89,814,862	90,042,840
Series A [Member] | Segment, Liberty Starz [Member]
CONSOLIDATED BALANCE SHEETS (Parenthetical)
Common Stock, Par or Stated Value Per Share	0.01	0.01
Common Stock, Shares Authorized	4,000,000,000	4,000,000,000
Common Stock, Shares, Issued	49,673,954	493,256,228
Common Stock, Shares, Outstanding	49,673,954	493,256,228
Series A [Member] | Segment, Liberty Interactive [Member]
CONSOLIDATED BALANCE SHEETS (Parenthetical)
Common Stock, Par or Stated Value Per Share	0.01	0.01
Common Stock, Shares Authorized	4,000,000,000	4,000,000,000
Common Stock, Shares, Issued	567,044,845	564,385,343
Common Stock, Shares, Outstanding	567,044,845	564,385,343
Series B [Member] | Segment, Liberty Capital [Member]
CONSOLIDATED BALANCE SHEETS (Parenthetical)
Common Stock, Par or Stated Value Per Share	0.01	0.01
Common Stock, Shares Authorized	75,000,000	75,000,000
Common Stock, Shares, Issued	7,405,151	6,024,724
Common Stock, Shares, Outstanding	7,405,151	6,024,724
Series B [Member] | Segment, Liberty Starz [Member]
CONSOLIDATED BALANCE SHEETS (Parenthetical)
Common Stock, Par or Stated Value Per Share	0.01	0.01
Common Stock, Shares Authorized	150,000,000	150,000,000
Common Stock, Shares, Issued	2,365,545	23,706,209
Common Stock, Shares, Outstanding	2,365,545	23,706,209
Series B [Member] | Segment, Liberty Interactive [Member]
CONSOLIDATED BALANCE SHEETS (Parenthetical)
Common Stock, Par or Stated Value Per Share	0.01	0.01
Common Stock, Shares Authorized	150,000,000	150,000,000
Common Stock, Shares, Issued	29,276,689	29,441,916
Common Stock, Shares, Outstanding	29,276,689	29,441,916

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
In Millions	12 Months Ended Dec. 31, 2009	12 Months Ended Dec. 31, 2008	12 Months Ended Dec. 31, 2007
Revenue:
Net retail sales	$8,305	$8,079	$7,802
Communications and programming services	1,853	1,738	1,576
Total revenues	10,158	9,817	9,378
Operating costs and expenses:
Cost of sales	5,332	5,224	4,925
Operating	1,923	1,945	1,896
Selling, general and administrative, including stock-based compensation (note 3)	1,178	1,149	913
Depreciation	189	191	162
Amortization	477	497	501
Impairment of long-lived assets (note 10)	9	1,569	223
Total operating costs and expenses	9,108	10,575	8,620
Operating income (loss)	1,050	(758)	758
Other income (expense):
Interest expense	(628)	(667)	(641)
Dividend and interest income	125	174	264
Share of earnings (losses) of affiliates, net (note 8)	(58)	(1,263)	9
Realized and unrealized gains (losses) on financial instruments, net (note 9)	(155)	(260)	1,269
Gains on dispositions, net (notes 7 and 8)	284	15	646
Other than temporary declines in fair value of investments (note 7)	(9)	(441)	(33)
Gain (loss) on early extinguishment of debt	(11)	240	0
Other, net	23	(71)	0
Total other income (expense)	(429)	(2,273)	1,514
Earnings (loss) from continuing operations before income taxes	621	(3,031)	2,272
Income tax benefit (expense) (note 12)	16	742	(313)
Earnings (loss) from continuing operations	637	(2,289)	1,959
Earnings from discontinued operations, net of taxes (note 5)	5,864	5,812	190
Net earnings	6,501	3,523	2,149
Less net earnings attributable to the noncontrolling interests	39	44	35
Net earnings attributable to Liberty Media Corporation stockholders	6,462	3,479	2,114
Segment, Liberty Capital [Member]
Revenue:
Net retail sales	0	0	0
Communications and programming services	649	614	485
Total revenues	649	614	485
Operating costs and expenses:
Cost of sales	0	0	0
Operating	486	515	480
Selling, general and administrative, including stock-based compensation (note 3)	343	398	227
Depreciation and amortization	79	101	102
Impairment of long-lived assets (note 10)	4	251	182
Total operating costs and expenses	912	1,265	991
Operating income (loss)	(263)	(651)	(506)
Other income (expense):
Interest expense	(130)	(172)	(151)
Dividend and interest income	115	136	217
Intergroup interest income (expense)	8
Share of earnings (losses) of affiliates, net (note 8)	(34)	(64)	(68)
Realized and unrealized gains (losses) on financial instruments, net (note 9)	(42)	(292)	1,261
Gains on dispositions, net (notes 7 and 8)	215	16	635
Other than temporary declines in fair value of investments (note 7)	(9)	(1)	(33)
Gain (loss) on early extinguishment of debt	0	0
Other, net	11	4	(2)
Total other income (expense)	134	(373)	1,859
Earnings (loss) from continuing operations before income taxes	(129)	(1,024)	1,353
Income tax benefit (expense) (note 12)	256	440	62
Earnings (loss) from continuing operations	127	(584)	1,415
Earnings from discontinued operations, net of taxes (note 5)	0	0	149
Net earnings	127	(584)	1,564
Less net earnings attributable to the noncontrolling interests	0	8	27
Net earnings (loss) attributable to Liberty Media Corporation shareholders (specific to exhibit 99)	127	(592)	1,537
Net earnings attributable to Liberty Media Corporation stockholders	127	(526)	0
Earnings Per Share
Basic earnings (loss) from continuing operations attributable to Liberty Media Corporation stockholders per common share (note 3):	1.32	-4.65	$0
Basic net earnings (loss) attributable to Liberty Media Corporation stockholders per common share (note 3):	1.32	-4.65	0
Diluted earnings (loss) from continuing operations attributable to Liberty Media Corporation stockholders per common share (note 3):	1.31	-4.65	$0
Diluted net earnings (loss) attributable to Liberty Media Corporation stockholders per common share (note 3):	1.31	-4.65	0
Segment, Liberty Starz [Member]
Revenue:
Net retail sales	0	0	0
Communications and programming services	1,204	1,124	1,091
Total revenues	1,204	1,124	1,091
Operating costs and expenses:
Cost of sales	0	0	0
Operating	685	682	704
Selling, general and administrative, including stock-based compensation (note 3)	221	167	170
Depreciation and amortization	21	26	25
Impairment of long-lived assets (note 10)	5	1,262	41
Total operating costs and expenses	932	2,137	940
Operating income (loss)	272	(1,013)	151
Other income (expense):
Interest expense	(2)	(22)	(25)
Dividend and interest income	2	16	3
Intergroup interest income (expense)	8
Share of earnings (losses) of affiliates, net (note 8)	(10)	(7)	0
Realized and unrealized gains (losses) on financial instruments, net (note 9)	8	272	14
Gains on dispositions, net (notes 7 and 8)	27	(3)	(1)
Other than temporary declines in fair value of investments (note 7)	0	0	0
Gain (loss) on early extinguishment of debt	0	0
Other, net	(6)	(12)	1
Total other income (expense)	27	244	(8)
Earnings (loss) from continuing operations before income taxes	299	(769)	143
Income tax benefit (expense) (note 12)	(86)	(191)	(69)
Earnings (loss) from continuing operations	213	(960)	74
Earnings from discontinued operations, net of taxes (note 5)	5,864	5,812	41
Net earnings	6,077	4,852	115
Less net earnings attributable to the noncontrolling interests	0	0	(21)
Net earnings (loss) attributable to Liberty Media Corporation shareholders (specific to exhibit 99)	6,077	4,852	136
Net earnings attributable to Liberty Media Corporation stockholders	6,077	(616)	0
Earnings Per Share
Basic earnings (loss) from continuing operations attributable to Liberty Media Corporation stockholders per common share (note 3):	0.46	-1.87	$0
Basic net earnings (loss) attributable to Liberty Media Corporation stockholders per common share (note 3):	13.13	-1.19	0
Diluted earnings (loss) from continuing operations attributable to Liberty Media Corporation stockholders per common share (note 3):	0.46	-1.87	$0
Diluted net earnings (loss) attributable to Liberty Media Corporation stockholders per common share (note 3):	13.04	-1.19	0
Segment, Liberty Interactive [Member]
Revenue:
Net retail sales	8,305	8,079	7,802
Communications and programming services	0	0	0
Total revenues	8,305	8,079	7,802
Operating costs and expenses:
Cost of sales	5,332	5,224	4,925
Operating	752	748	712
Selling, general and administrative, including stock-based compensation (note 3)	614	584	516
Depreciation and amortization	566	561	536
Impairment of long-lived assets (note 10)	0	56	0
Total operating costs and expenses	7,264	7,173	6,689
Operating income (loss)	1,041	906	1,113
Other income (expense):
Interest expense	(496)	(473)	(465)
Dividend and interest income	8	22	44
Intergroup interest income (expense)	(16)
Share of earnings (losses) of affiliates, net (note 8)	(14)	(1,192)	77
Realized and unrealized gains (losses) on financial instruments, net (note 9)	(121)	(240)	(6)
Gains on dispositions, net (notes 7 and 8)	42	2	12
Other than temporary declines in fair value of investments (note 7)	0	(440)	0
Gain (loss) on early extinguishment of debt	(11)	240
Other, net	18	(63)	1
Total other income (expense)	(590)	(2,144)	(337)
Earnings (loss) from continuing operations before income taxes	451	(1,238)	776
Income tax benefit (expense) (note 12)	(154)	493	(306)
Earnings (loss) from continuing operations	297	(745)	470
Earnings from discontinued operations, net of taxes (note 5)	0	0	0
Net earnings	297	(745)	470
Less net earnings attributable to the noncontrolling interests	39	36	29
Net earnings (loss) attributable to Liberty Media Corporation shareholders (specific to exhibit 99)	258	(781)	441
Net earnings attributable to Liberty Media Corporation stockholders	258	(781)	441
Earnings Per Share
Basic earnings (loss) from continuing operations attributable to Liberty Media Corporation stockholders per common share (note 3):	0.43	-1.31	0.7
Basic net earnings (loss) attributable to Liberty Media Corporation stockholders per common share (note 3):	0.43	-1.31	0.7
Diluted earnings (loss) from continuing operations attributable to Liberty Media Corporation stockholders per common share (note 3):	0.43	-1.31	0.69
Diluted net earnings (loss) attributable to Liberty Media Corporation stockholders per common share (note 3):	0.43	-1.31	0.69
Segment, Old Liberty Capital [Member]
Other income (expense):
Net earnings attributable to Liberty Media Corporation stockholders	$0	$5,402	$1,673
Earnings Per Share
Basic earnings (loss) from continuing operations attributable to Liberty Media Corporation stockholders per common share (note 3):	$0	-0.46	11.19
Basic net earnings (loss) attributable to Liberty Media Corporation stockholders per common share (note 3):	0	41.88	12.67
Diluted earnings (loss) from continuing operations attributable to Liberty Media Corporation stockholders per common share (note 3):	$0	-0.46	11.11
Diluted net earnings (loss) attributable to Liberty Media Corporation stockholders per common share (note 3):	0	41.55	12.58

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE EARNINGS (USD $)
In Millions	12 Months Ended Dec. 31, 2009	12 Months Ended Dec. 31, 2008	12 Months Ended Dec. 31, 2007
Net earnings	$6,501	$3,523	$2,149
Other comprehensive earnings (loss), net of taxes (note 17):
Foreign currency translation adjustments	3	(19)	101
Unrealized holding gains (losses) arising during the period	230	(500)	(1,239)
Recognition of previously unrealized losses (gains) on available-for-sale securities, net	(27)	273	(375)
Share of other comprehensive earnings (loss) of equity affiliates	(5)	(10)	3
Other	43	(62)	(46)
Other comprehensive earnings (loss) from discontinued operations	31	(2,618)	(317)
Other comprehensive earnings (loss)	275	(2,936)	(1,873)
Comprehensive earnings	6,776	587	276
Less comprehensive earnings attributable to the noncontrolling interests	32	71	41
Comprehensive earnings attributable to Liberty Media Corporation stockholders	6,744	516	235
Segment, Liberty Capital [Member]
Net earnings	127	(584)	1,564
Other comprehensive earnings (loss), net of taxes (note 17):
Foreign currency translation adjustments	2	(9)	(1)
Unrealized holding gains (losses) arising during the period	43	(2)	(845)
Recognition of previously unrealized losses (gains) on available-for-sale securities, net	(1)	1	(375)
Share of other comprehensive earnings (loss) of equity affiliates	0	0	0
Other	(4)	(2)	0
Other comprehensive earnings (loss) from discontinued operations	0	0	0
Other comprehensive earnings (loss)	40	(12)	(1,221)
Comprehensive earnings	167	(596)	343
Less comprehensive earnings attributable to the noncontrolling interests	0	8	27
Comprehensive earnings (loss) attributable to Liberty Media Corporation stockholders (specific to exhibit 99)	167	(604)	316
Comprehensive earnings attributable to Liberty Media Corporation stockholders	167	(537)	0
Segment, Liberty Starz [Member]
Net earnings	6,077	4,852	115
Other comprehensive earnings (loss), net of taxes (note 17):
Foreign currency translation adjustments	0	0	0
Unrealized holding gains (losses) arising during the period	0	0	0
Recognition of previously unrealized losses (gains) on available-for-sale securities, net	0	0	0
Share of other comprehensive earnings (loss) of equity affiliates	0	0	0
Other	0	0	0
Other comprehensive earnings (loss) from discontinued operations	31	(2,618)	(317)
Other comprehensive earnings (loss)	31	(2,618)	(317)
Comprehensive earnings	6,108	2,234	(202)
Less comprehensive earnings attributable to the noncontrolling interests	0	0	(21)
Comprehensive earnings (loss) attributable to Liberty Media Corporation stockholders (specific to exhibit 99)	6,108	2,234	(181)
Comprehensive earnings attributable to Liberty Media Corporation stockholders	6,108	(649)	0
Segment, Liberty Interactive [Member]
Net earnings	297	(745)	470
Other comprehensive earnings (loss), net of taxes (note 17):
Foreign currency translation adjustments	1	(10)	102
Unrealized holding gains (losses) arising during the period	187	(498)	(394)
Recognition of previously unrealized losses (gains) on available-for-sale securities, net	(26)	272	0
Share of other comprehensive earnings (loss) of equity affiliates	(5)	(10)	3
Other	47	(60)	(46)
Other comprehensive earnings (loss) from discontinued operations	0	0	0
Other comprehensive earnings (loss)	204	(306)	(335)
Comprehensive earnings	501	(1,051)	135
Less comprehensive earnings attributable to the noncontrolling interests	32	63	35
Comprehensive earnings (loss) attributable to Liberty Media Corporation stockholders (specific to exhibit 99)	469	(1,114)	100
Comprehensive earnings attributable to Liberty Media Corporation stockholders	469	(1,114)	100
Segment, Old Liberty Capital [Member]
Other comprehensive earnings (loss), net of taxes (note 17):
Comprehensive earnings attributable to Liberty Media Corporation stockholders	$0	$2,816	$135

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Millions	12 Months Ended Dec. 31, 2009	12 Months Ended Dec. 31, 2008	12 Months Ended Dec. 31, 2007
Cash flows from operating activities:
Net earnings	$6,501	$3,523	$2,149
Adjustments to reconcile net earnings to net cash provided by operating activities:
Earnings from discontinued operations	(5,864)	(5,812)	(190)
Depreciation and amortization	666	688	663
Impairment of long-lived assets	9	1,569	223
Stock-based compensation	128	49	89
Cash payments for stock-based compensation	(11)	(24)	(40)
Noncash interest expense	97	8	9
Share of losses (earnings) of affiliates, net	58	1,263	(9)
Realized and unrealized losses (gains) on financial instruments, net	155	260	(1,269)
Gains on disposition of assets, net	(284)	(15)	(646)
Other Than Temporary Declines In Fair Value Of Investments	9	441	33
Deferred income tax expense (benefit)	(158)	(997)	120
Other noncash charges (credits), net	75	(80)	141
Changes in operating assets and liabilities, net of the effects of acquisitions and dispositions:
Current and other assets	19	(143)	(434)
Payables and other current liabilities	47	(88)	269
Net cash provided by operating activities	1,447	642	1,108
Cash flows from investing activities:
Cash proceeds from dispositions	557	35	495
Proceeds from settlement of financial instruments	1,374	33	75
Cash received in exchange transactions	0	0	1,154
Cash paid for acquisitions, net of cash acquired	(4)	(77)	(243)
Investments in and loans to cost and equity investees	(750)	(591)	(159)
Repayment of loan by equity investee	634	0	0
Investment in special purpose entity	0	0	(750)
Capital expended for property and equipment	(264)	(202)	(315)
Net decrease (increase) in restricted cash	54	383	(882)
Other investing activities, net	53	(83)	(10)
Net cash provided (used) by investing activities	1,654	(502)	(635)
Cash flows from financing activities:
Borrowings of debt	3,338	3,031	1,869
Repayments of debt	(4,682)	(2,763)	(498)
Repurchases of Liberty common stock	(18)	(537)	(2,529)
Settlement of financial instruments	(149)	(346)	0
Premium proceeds from financial instruments	332	0	0
Contribution from noncontrolling owner	0	0	751
Other financing activities, net	(1)	(10)	2
Net cash used by financing activities	(1,180)	(625)	(405)
Effect of foreign currency exchange rates on cash	(25)	17	8
Net cash provided by (to) discontinued operations:
Cash provided (used) by operating activities	(5)	2	58
Cash used by investing activities	(15)	(1,464)	(2)
Cash provided (used) by financing activities	0	1,930	(106)
Change in available cash held by discontinued operations	(101)	(68)	4
Net cash provided by (to) discontinued operations	(121)	400	(46)
Net increase (decrease) in cash and cash equivalents	1,775	(68)	30
Cash and cash equivalents at beginning of year	3,060	3,128	3,098
Cash and cash equivalents at end of year	4,835	3,060	3,128
Segment, Liberty Capital [Member]
Cash flows from operating activities:
Net earnings	127	(584)	1,564
Adjustments to reconcile net earnings to net cash provided by operating activities:
Earnings from discontinued operations	0	0	(149)
Depreciation and amortization	79	101	102
Impairment of long-lived assets	4	251	182
Stock-based compensation	5	2	12
Cash payments for stock-based compensation	0	(1)	(3)
Noncash interest expense	0	1	5
Share of losses (earnings) of affiliates, net	34	64	68
Realized and unrealized losses (gains) on financial instruments, net	42	292	(1,261)
Gains on disposition of assets, net	(215)	(16)	(635)
Other Than Temporary Declines In Fair Value Of Investments	9	1	33
Deferred income tax expense (benefit)	53	(300)	200
Other noncash charges (credits), net	60	98	142
Intergroup tax allocation	(321)	(298)	(299)
Intergroup tax payments	264	269	371
Other intergroup cash transfers, net	8	59	(54)
Changes in operating assets and liabilities, net of the effects of acquisitions and dispositions:
Current and other assets	29	(129)	(165)
Payables and other current liabilities	(74)	100	223
Net cash provided by operating activities	104	(90)	336
Cash flows from investing activities:
Cash proceeds from dispositions	251	17	483
Proceeds from settlement of financial instruments	1,346	33	75
Cash received in exchange transactions			1,154
Cash paid for acquisitions, net of cash acquired	(1)	(1)	(7)
Investments in and loans to cost and equity investees	(726)	(232)
Repayment of loan by equity investee	634
Investment in special purpose entity			(750)
Capital expended for property and equipment	(46)	(29)	(16)
Net decrease (increase) in restricted cash	66	383	(882)
Other investing activities, net	72	(88)	(98)
Net cash provided (used) by investing activities	1,596	83	(41)
Cash flows from financing activities:
Borrowings of debt	2,061	1,548	757
Intergroup debt borrowings	(255)
Repayments of debt	(2,141)	(1,323)	(163)
Repurchases of Liberty common stock	(5)	(462)	(1,305)
Settlement of financial instruments	28	(277)
Premium proceeds from financial instruments	155
Repayment of intergroup loan	97
Intergroup cash transfers, net		(450)	111
Contribution from noncontrolling owner			751
Reattribution of cash		0
Other financing activities, net	21	(8)	(27)
Net cash used by financing activities	(39)	(972)	124
Effect of foreign currency exchange rates on cash	0	(13)	(2)
Net cash provided by (to) discontinued operations:
Cash provided (used) by operating activities	0	0	8
Cash used by investing activities	0	0	(9)
Cash provided (used) by financing activities	0	0	0
Change in available cash held by discontinued operations	0	0	2
Net cash provided by (to) discontinued operations	0	0	1
Net increase (decrease) in cash and cash equivalents	1,661	(992)	418
Cash and cash equivalents at beginning of year	1,496	2,488	2,070
Cash and cash equivalents at end of year	3,157	1,496	2,488
Segment, Liberty Starz [Member]
Cash flows from operating activities:
Net earnings	6,077	4,852	115
Adjustments to reconcile net earnings to net cash provided by operating activities:
Earnings from discontinued operations	(5,864)	(5,812)	(41)
Depreciation and amortization	21	26	25
Impairment of long-lived assets	5	1,262	41
Stock-based compensation	76	15	42
Cash payments for stock-based compensation	(2)	(14)	0
Noncash interest expense	0	0	0
Share of losses (earnings) of affiliates, net	10	7	0
Realized and unrealized losses (gains) on financial instruments, net	(8)	(272)	(14)
Gains on disposition of assets, net	(27)	3	1
Other Than Temporary Declines In Fair Value Of Investments	0	0	0
Deferred income tax expense (benefit)	(8)	131	48
Other noncash charges (credits), net	21	0	0
Intergroup tax allocation	97	59	21
Intergroup tax payments	(96)	(79)	(50)
Other intergroup cash transfers, net	(10)	9	0
Changes in operating assets and liabilities, net of the effects of acquisitions and dispositions:
Current and other assets	(15)	60	21
Payables and other current liabilities	(21)	(23)	(41)
Net cash provided by operating activities	256	224	168
Cash flows from investing activities:
Cash proceeds from dispositions	0	0	0
Proceeds from settlement of financial instruments	21	0	0
Cash received in exchange transactions			0
Cash paid for acquisitions, net of cash acquired	(1)	(7)	0
Investments in and loans to cost and equity investees	0	(19)
Repayment of loan by equity investee	0
Investment in special purpose entity			0
Capital expended for property and equipment	(10)	(7)	(10)
Net decrease (increase) in restricted cash	0	0	0
Other investing activities, net	0	(11)	3
Net cash provided (used) by investing activities	10	(44)	(7)
Cash flows from financing activities:
Borrowings of debt	0	0	0
Intergroup debt borrowings	(255)
Repayments of debt	(3)	(3)	(3)
Repurchases of Liberty common stock	(13)	0	0
Settlement of financial instruments	0	(13)
Premium proceeds from financial instruments	0
Repayment of intergroup loan	97
Intergroup cash transfers, net		450	(111)
Contribution from noncontrolling owner			0
Reattribution of cash		(380)
Other financing activities, net	99	15	1
Net cash used by financing activities	(75)	69	(113)
Effect of foreign currency exchange rates on cash	(8)	0	0
Net cash provided by (to) discontinued operations:
Cash provided (used) by operating activities	(5)	2	50
Cash used by investing activities	(15)	(1,464)	7
Cash provided (used) by financing activities	0	1,930	(106)
Change in available cash held by discontinued operations	(101)	(68)	2
Net cash provided by (to) discontinued operations	(121)	400	(47)
Net increase (decrease) in cash and cash equivalents	62	649	1
Cash and cash equivalents at beginning of year	732	83	82
Cash and cash equivalents at end of year	794	732	83
Segment, Liberty Interactive [Member]
Cash flows from operating activities:
Net earnings	297	(745)	470
Adjustments to reconcile net earnings to net cash provided by operating activities:
Earnings from discontinued operations	0	0	0
Depreciation and amortization	566	561	536
Impairment of long-lived assets	0	56	0
Stock-based compensation	47	32	35
Cash payments for stock-based compensation	(9)	(9)	(37)
Noncash interest expense	97	7	4
Share of losses (earnings) of affiliates, net	14	1,192	(77)
Realized and unrealized losses (gains) on financial instruments, net	121	240	6
Gains on disposition of assets, net	(42)	(2)	(12)
Other Than Temporary Declines In Fair Value Of Investments	0	440	0
Deferred income tax expense (benefit)	(203)	(828)	(128)
Other noncash charges (credits), net	(6)	(178)	(1)
Intergroup tax allocation	224	239	278
Intergroup tax payments	(168)	(190)	(321)
Other intergroup cash transfers, net	2	(68)	54
Changes in operating assets and liabilities, net of the effects of acquisitions and dispositions:
Current and other assets	5	(74)	(290)
Payables and other current liabilities	142	(165)	87
Net cash provided by operating activities	1,087	508	604
Cash flows from investing activities:
Cash proceeds from dispositions	306	18	12
Proceeds from settlement of financial instruments	7	0	0
Cash received in exchange transactions			0
Cash paid for acquisitions, net of cash acquired	(2)	(69)	(236)
Investments in and loans to cost and equity investees	(24)	(340)
Repayment of loan by equity investee	0
Investment in special purpose entity			0
Capital expended for property and equipment	(208)	(166)	(289)
Net decrease (increase) in restricted cash	(12)	0	0
Other investing activities, net	(19)	16	(74)
Net cash provided (used) by investing activities	48	(541)	(587)
Cash flows from financing activities:
Borrowings of debt	1,277	1,483	1,112
Intergroup debt borrowings	510
Repayments of debt	(2,538)	(1,437)	(332)
Repurchases of Liberty common stock	0	(75)	(1,224)
Settlement of financial instruments	(177)	(56)
Premium proceeds from financial instruments	177
Repayment of intergroup loan	(194)
Intergroup cash transfers, net		0	0
Contribution from noncontrolling owner			0
Reattribution of cash		380
Other financing activities, net	(121)	(17)	28
Net cash used by financing activities	(1,066)	278	(416)
Effect of foreign currency exchange rates on cash	(17)	30	10
Net cash provided by (to) discontinued operations:
Cash provided (used) by operating activities	0	0	0
Cash used by investing activities	0	0	0
Cash provided (used) by financing activities	0	0	0
Change in available cash held by discontinued operations	0	0	0
Net cash provided by (to) discontinued operations	0	0	0
Net increase (decrease) in cash and cash equivalents	52	275	(389)
Cash and cash equivalents at beginning of year	832	557	946
Cash and cash equivalents at end of year	884	832	557
Segment, Inter-group eliminations [Member]
Net cash provided by (to) discontinued operations:
Cash and cash equivalents at beginning of year	0
Cash and cash equivalents at end of year	$0	$0

CONSOLIDATED STATEMENTS OF EQUI

CONSOLIDATED STATEMENTS OF EQUITY (USD $)
In Millions	12 Months Ended Dec. 31, 2009	12 Months Ended Dec. 31, 2008	12 Months Ended Dec. 31, 2007
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Beginning Balance	$19,757	$20,452	$21,923
Net earnings	6,501	3,523	2,149
Other comprehensive earnings (loss)	275	(2,936)	(1,873)
Cumulative effects of accounting changes (note 3)			193
Split Off of Liberty Entertainment, Inc. (note 2)	(16,486)
Issuance of common stock upon exercise of stock options	117		35
Stock compensation	158	35	29
Series A Liberty Interactive stock repurchases		(75)	(1,224)
Series A Liberty Starz stock repurchases	(13)
Series A Liberty Capital stock repurchases	(5)	(462)	(1,305)
Unwind of special purpose entity		(750)
Liberty acquisition of noncontrolling interest		(11)	(35)
Sale by Liberty of controlling interest in subsidiary			(132)
Contribution by noncontrolling interests			751
Distributions to noncontrolling interests	(59)	(21)	(54)
Other	(7)	2	(5)
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance	10,238	19,757	20,452
Additional paid-in capital [Member]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Beginning Balance	25,132	25,637	28,112
Distribution of Liberty Entertainment and Liberty Capital common stock to stockholders		(5)
Split Off of Liberty Entertainment, Inc. (note 2)	(16,481)
Issuance of common stock upon exercise of stock options	117		35
Stock compensation	158	35	24
Series A Liberty Interactive stock repurchases		(75)	(1,224)
Series A Liberty Starz stock repurchases	(13)
Series A Liberty Capital stock repurchases	(5)	(462)	(1,305)
Distributions to noncontrolling interests	0
Other	(8)	2	(5)
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance	8,900	25,132	25,637
Accumulated other comprehensive earnings [Member]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Beginning Balance	70	4,073	5,952
Other comprehensive earnings (loss)	282	(2,963)	(1,879)
Cumulative effects of accounting changes (note 3)		(1,040)
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance	352	70	4,073
Common stock [Member] | Series A [Member] | Segment, Liberty Capital [Member]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Beginning Balance	1	0	0
Distribution of Liberty Entertainment and Liberty Capital common stock to stockholders		1
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance	1	1	0
Common stock [Member] | Series A [Member] | Segment, Liberty Starz [Member]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Beginning Balance	5	0	0
Distribution of Liberty Entertainment and Liberty Capital common stock to stockholders		5
Split Off of Liberty Entertainment, Inc. (note 2)	(5)
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance	0	5	0
Common stock [Member] | Series A [Member] | Segment, Liberty Interactive [Member]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Beginning Balance	6	6	6
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance	6	6	6
Common stock [Member] | Series A [Member] | Segment, Old Liberty Capital [Member]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Beginning Balance	0	1	1
Distribution of Liberty Entertainment and Liberty Capital common stock to stockholders		(1)
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance	0	0	1
Common stock [Member] | Series B [Member] | Segment, Liberty Capital [Member]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Beginning Balance	0	0	0
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance	0	0	0
Common stock [Member] | Series B [Member] | Segment, Liberty Starz [Member]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Beginning Balance	0	0	0
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance	0	0	0
Common stock [Member] | Series B [Member] | Segment, Liberty Interactive [Member]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Beginning Balance	0	0	0
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance	0	0	0
Common stock [Member] | Series B [Member] | Segment, Old Liberty Capital [Member]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Beginning Balance	0	0	0
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance	0	0	0
Retained earnings (deficit) [Member]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Beginning Balance	(5,612)	(10,131)	(12,438)
Net earnings	6,462	3,479	2,114
Cumulative effects of accounting changes (note 3)		1,040	193
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance	850	(5,612)	(10,131)
Noncontrolling interest in equity of subsidiaries [Member]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Beginning Balance	155	866	290
Net earnings	39	44	35
Other comprehensive earnings (loss)	(7)	27	6
Stock compensation			5
Unwind of special purpose entity		(750)
Liberty acquisition of noncontrolling interest		(11)	(35)
Sale by Liberty of controlling interest in subsidiary			(132)
Contribution by noncontrolling interests			751
Distributions to noncontrolling interests	(59)	(21)	(54)
Other	1
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance	129	155	866
Preferred stock [Member]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Beginning Balance	0	0	0
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance	0	0	0
Segment, Liberty Capital [Member]
Net earnings	127	(584)	1,564
Other comprehensive earnings (loss)	40	(12)	(1,221)
Segment, Liberty Starz [Member]
Net earnings	6,077	4,852	115
Other comprehensive earnings (loss)	31	(2,618)	(317)
Segment, Liberty Interactive [Member]
Net earnings	297	(745)	470
Other comprehensive earnings (loss)	$204	($306)	($335)

Basis of Presentation

Basis of Presentation
	12 Months Ended Dec. 31, 2009
Basis of Presentation [Abstract]
Basis of Presentation	(1) Basis of Presentation The accompanying consolidated financial statements include the accounts of Liberty Media Corporation and its controlled subsidiaries (collectively, "Liberty" or the "Company" unless the context otherwise requires). All significant intercompany accounts and transactions have been eliminated in consolidation. Liberty, through its ownership of interests in subsidiaries and other companies, is primarily engaged in the video and on-line commerce, media, communications and entertainment industries in North America, Europe and Asia.

Tracking Stocks

Tracking Stocks
	12 Months Ended Dec. 31, 2009
Tracking Stocks [Abstract]
Tracking Stocks	(2) Tracking Stocks Prior to March 3, 2008, Liberty had two tracking stocks, Liberty Interactive common stock and Liberty Capital common stock, which were intended to track and reflect the economic performance of one of two groups, the Interactive Group and the Capital Group, respectively. On March 3, 2008, Liberty completed a reclassification (the "Reclassification") of its Liberty Capital common stock (herein referred to as "Old Liberty Capital common stock") whereby each share of Old Series A Liberty Capital common stock was reclassified into four shares of Series A Liberty Entertainment common stock and one share of new Series A Liberty Capital common stock, and each share of Old Series B Liberty Capital common stock was reclassified into four shares of Series B Liberty Entertainment common stock and one share of new Series B Liberty Capital common stock. The Liberty Entertainment common stockwas intended to track and reflect the economic performance of the Entertainment Group. The Reclassification did not change the businesses, assets and liabilities attributed to the Interactive Group. As more fully described in note 5, on November 19, 2009, Liberty completed its previously announced split-off (the "Split-Off") of its wholly owned subsidiary, Liberty Entertainment, Inc. ("LEI"), and the business combination transaction among Liberty, LEI and The DIRECTV Group, Inc. ("DIRECTV") (the "DTV Business Combination"). The Split-Off was accomplished by aredemption (the "Redemption") of 90% of the outstanding shares of Liberty Entertainment common stock in exchange for all of the outstanding shares of common stock of LEI, pursuant to which, 0.9 of each outstanding share of Liberty Entertainment common stock was redeemed for 0.9 of a share of the corresponding series of common stock of LEI, with payment of cash in lieu of any fractional shares. Subsequent to the Redemption, Liberty redesignated the Entertainment Group as the Starz Group. Tracking stock is a type of common stock that the issuing company intends to reflect or "track" the economic performance of a particular business or "group," rather than the economic performance of the company as a whole. While the Interactive Group, the Starz Group and the Capital Group have separate collections of businesses, assets and liabilities attributed to them, no group is a separate legal entity and therefore cannot own assets, issue securities or enter into legally binding agreements. Holders of tracking stocks have no direct claim to the group's stock or assets and are not represented by separate boards of directors. Instead, holders of tracking stock are stockholders of the parent corporation, with a single board of directors and subject to all of the risks and liabilities of the parent corporation. The term "Interactive Group" does not represent a separate legal entity, rather it represents those businesses, assets and liabilities which Liberty has attributed to that group. As of December 31, 2009, the assets and businesses Liberty has attributed to the Interactive Group are those engaged in video and on-line commerce, and include its subsidiaries QVC, Inc. ("QVC"), Provide Commerce,

Summary of Significant Accounti

Summary of Significant Accounting Policies
	12 Months Ended Dec. 31, 2009
Summary of Significant Accounting Policies [Abstract]
Summary of Significant Accounting Policies	(3) Summary of Significant Accounting Policies Cash and Cash Equivalents Cash equivalents consist of investments which are readily convertible into cash and have maturities of three months or less at the time of acquisition. Receivables Receivables are reflected net of an allowance for doubtful accounts. Such allowance aggregated $116 million and $104 million at December 31, 2009 and 2008, respectively. A summary of activity in the allowance for doubtful accounts is as follows: Balance Additions Balance beginning Charged Deductions- end of of year to expense Acquisitions write-offs year amounts in millions 2009 $ 104 81 -- (69) 116 2008 $ 80 66 1 (43) 104 2007 $ 72 41 1 (34) 80 Inventory Inventory, consisting primarily of products held for sale, is stated at the lower of cost or market. Cost is determined by the average cost method, which approximates the first-in, first-out method. Program Rights Program rights are amortized on a film-by-film basis over the anticipated number of exhibitions. Program rights payable are initially recorded at the estimated cost of the programs when the film is available for airing. Investment in Films and Television Programs Investment in films and television programs generally includes the cost of proprietary films and television programs that have been released, completed and not released, in production, and in development or pre-production. Capitalized costs include the acquisition of story rights, the development of stories, production labor, postproduction costs and allocable overhead and interest costs. Investment in films and television programs is stated at the lower of unamortized cost or estimated fair value on an individual film basis. Investment in films and television programs is amortized using the individual-film-forecast method, whereby the costs are charged to expense and participation and residual costs are accrued based on the proportion that current revenue from the films bear to an estimate of total revenue anticipated from all markets (ultimate revenue). Ultimate revenue estimates generally may not exceed ten years following the date of initial release or from the date of delivery of the first episode for episodic television series. Estimates of ultimate revenue involve uncertainty and it is therefore possible that reductions in the carrying value of investment in films and television programs may be required as a consequence of changes in management's future revenue estimates. Investment in films and television programs in development or pre-production is periodically reviewed to determine whether they will ultimately be used in the production of a film. Costs of films in development or pre-production are charged to expense if the project is abandoned, or if the film has not been set for production within three years from the time of the first capitalized transaction. The investment in films and television programs is reviewed for impairment on a title-by-title basis when an event or change in circumst

Supplemental Disclosures to Con

Supplemental Disclosures to Consolidated Statement of Cash Flows
	12 Months Ended Dec. 31, 2009
Supplemental Disclosures to Consolidated Statements of Cash Flows [Abstract]
Supplemental Disclosures to Consolidated Statements of Cash Flows	(4) Supplemental Disclosures to Consolidated Statements of Cash Flows Years ended December 31, 2009 2008 2007 amounts in millions Cash paid for acquisitions: Fair value of assets acquired $ 3 89 290 Net liabilities assumed -- (29) (41) Deferred tax liabilities -- 17 1 Noncontrolling interest 1 -- -- Common stock issued -- -- (7) Cash paid for acquisitions, net of cash acquired $ 4 77 243 Available-for-sale securities exchanged for consolidated subsidiaries and cash $ -- -- 1,718 Cash paid for interest $ 517 659 607 Cash paid for income taxes $ 204 374 195

Discontinued Operations

Discontinued Operations
	12 Months Ended Dec. 31, 2009
Discontinued Operations [Abstract]
Discontinued Operations	5) Discontinued Operations Split Off of LEI On February 27, 2008, Liberty completed a transaction with News Corporation (the "News Corporation Exchange") in which Liberty exchanged all of its 512.6 million shares of News Corporation common stock valued at $10,143 million on the closing date for a subsidiary of News Corporation that held an approximate 41% interest in DIRECTV, three regional sports television networks and $463 million in cash. Liberty accounted for the News Corporation Exchange as a nonmonetary exchange and recognized a pre-tax gain of $3,665 million based on the difference between the fair value and the cost basis of the News Corporation shares exchanged. The News Corporation Exchange qualified as an IRC Section 355 transaction, and therefore did not trigger federal or state income tax obligations. In addition, upon consummation of such transaction, the deferred tax liability previously recorded for the difference between Liberty's book and tax bases in its News Corporation investment in the amount of $1,791 million was reversed with an offset to income tax benefit. On April 3, 2008, Liberty purchased 78.3 million additional shares of DIRECTV common stock in a private transaction for cash consideration of $1.98 billion. Liberty funded the purchase with borrowings against a newly executed equity collar on 110 million DIRECTV common shares. As of May 5, 2008, Liberty's ownership in DIRECTV was approximately 48%. As a result of stock repurchases by DIRECTV, Liberty's ownership interest in DIRECTV increased to approximately 57% as of November 19, 2009. However, due to a standstill agreement with DIRECTV, Liberty's ability to control DIRECTV was limited, and Liberty accounted for its investment using the equity method of accounting. Liberty's share of the earnings of DIRECTV, including amortization of Liberty's excess basis related to DIRECTV, aggregated $386 million and $404 million in 2009 and 2008, respectively. Such share of earnings are net of amortization of Liberty's excess basis of $279 million and $224 million in 2009 and 2008, respectively. Summarized unaudited financial information for DIRECTV is as follows: DIRECTV Consolidated Balance Sheets December 31, 2009 2008 amounts in millions Current assets $ 5,055 $ 4,044 Satellites, net 2,338 2,476 Property and equipment, net 4,138 4,171 Goodwill 4,164 3,753 Intangible assets 1,131 1,172 Other assets 1,434 923 Total assets $ 18,260 $ 16,539 Current liabilities $ 5,701 3,585 Deferred income taxes 1,070 524 Long-term debt 6,500 5,725 Other liabilities 1,678 1,749 Noncontrolling interest 400 325 Stockholders' equity 2,911 4,631 Total liabilities and equity $ 18,260 $ 16,539 DIRECTV Consolidated Statements of Operations Year ended December 31, 2009 2008 amounts in millions Revenue $ 21,565 $ 19,693 Costs of revenue (10,930)

Assets and Liabilities Measured

Assets and Liabilities Measured at Fair Value
	12 Months Ended Dec. 31, 2009
Assets and Liabilities Measured at Fair Value [Abstract]
Assets and Liabilities Measured at Fair Value	(6) Assets and Liabilities Measured at Fair Value For assets and liabilities required to be reported at fair value, GAAP provides a hierarchy that prioritizes inputs to valuation techniques used to measure fair value into three broad levels. Level 1 inputs are quoted market prices in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. Level 2 inputs are inputs, other than quoted market prices included within Level 1, that are observable for the asset or liability, either directly or indirectly. Level 3 inputs are unobservable inputs for the asset or liability. The Company's assets and liabilities measured at fair value are as follows: Fair Value Measurements at December 31, 2009 Using Quoted prices Significant other Significant in active markets observable unobservable for identical assets inputs inputs Description Total (Level 1) (Level 2) (Level 3) amounts in millions Available-for-sale securities $ 4,090 3,714 376 -- Financial instrument assets $ 752 -- 752 -- Financial instrument liabilities $ 1,134 851 283 -- Debt $ 2,254 -- 2,254 -- The Company uses the Black Scholes Model to estimate fair value for the majority of its Level 2 financial instrument assets and liabilities using observable inputs such as exchange-traded equity prices, risk-free interest rates, dividend yields and volatilities obtained from pricing services. For the Company's debt instruments reported at fair value, the Company gets quoted market prices from pricing services or from evidence of observable inputs, some of which may be obtained using third-party brokers. However, the Company does not believe such instruments are traded on "active markets," as defined in GAAP. Accordingly, the debt instruments are reported in the foregoing table as Level 2 fair value. The Company incorporates a credit risk valuation adjustment in its fair value measurements to estimate the impact of both its own nonperformance risk and the nonperformance risk of its counterparties. The Company estimates credit risk associated with its and its counterparties nonperformance primarily by using observable credit default swap rates for terms similar to those of the remaining life of the instrument, adjusted for any master netting arrangements or other factors that provide an estimate of nonperformance risk. These are Level 3 inputs. However, as the credit risk valuation adjustments were not significant, the Company continues to report its equity collars, interest rate swaps and put options as Level 2.

Investments in Available-for-Sa

Investments in Available-for-Sale Securities and Other Cost Investments
	12 Months Ended Dec. 31, 2009
Investments in Available-for-Sale Securities and Other Cost Investments [Abstract]
Investments in Available-for-Sale Securities and Other Cost Investments	(7) Investments in Available-for-Sale Securities and Other Cost Investments Investments in AFS securities, including Non-strategic Securities, and other cost investments are summarized as follows: December 31, 2009 2008 amounts in millions Capital Group Time Warner Inc. ("Time Warner") (1) $ 997 1,033 Time Warner Cable Inc. ("Time Warner Cable") (1) 356 -- Sprint Nextel Corporation ("Sprint") (1) 260 160 Motorola, Inc. ("Motorola") (1) 403 328 Viacom, Inc. 226 145 CenturyTel, Inc/Embarq Corporation ("CenturyTel") (1) 195 157 Other AFS equity securities (1) 220 40 Other AFS debt securities 676 224 Other cost investments and related receivables 22 31 Total attributed Capital Group 3,355 2,118 Interactive Group IAC/InterActiveCorp ("IAC") 492 638 Other 242 101 Total attributed Interactive Group 734 739 Starz Group Other 31 -- Total attributed Starz Group 31 -- Consolidated Liberty $ 4,120 2,857 (1) Includes shares pledged as collateral for share borrowing arrangements. See note 9. Time Warner On May 17, 2007, Liberty completed a transaction (the "Time Warner Exchange") with Time Warner in which Liberty exchanged approximately 68.5 million shares of Time Warner common stock valued at $1,479 million for a subsidiary of Time Warner which held ANLBC, Leisure Arts, Inc. and $984 million in cash. Liberty recognized a pre-tax gain of $582 million based on the difference between the fair value and the weighted average cost basis of the Time Warner shares exchanged. In March 2009, Time Warner Inc. completed the separation of Time Warner Cable from Time Warner Inc. by way of a dividend to Time Warner Inc. shareholders, including Liberty. Liberty received 8.6 million shares of Time Warner Cable and recorded its investment in Time Warner Cable based on an allocation of its basis in Time Warner Inc. No gain or loss was recognized in connection with this transaction. CBS Corporation On April 16, 2007, Liberty completed a transaction (the "CBS Exchange") with CBS Corporation pursuant to which Liberty exchanged all of its 7.6 million shares of CBS Class B common stock valued at $239 million for a subsidiary of CBS that held WFRV TV Station and approximately $170 million in cash. Liberty recognized a pre-tax gain of $31 million based on the difference between the fair value and the weighted average cost basis of the CBS shares exchanged. On a pro forma basis, the results of operations of ANLBC, Leisure Arts and WFRV TV Station are not significant to those of Liberty for the year ended December 31, 2007. IAC/InterActiveCorp In the first quarter of 2008, Liberty purchased additional shares of IAC common stock in a private transaction for cash consideration of $339 million. On August 21, 2008, IAC completed the spin off of four separate subsidiaries, HSN, Inc., Interval Leisure Group, Inc., Ticketmaster Entertainment Inc. and Tree.com, Inc., to its stockh

Investments in Affiliates Accou

Investments in Affiliates Accounted for Using the Equity Method
	12 Months Ended Dec. 31, 2009
Investments in Affiliates Accounted for Using the Equity Method [Abstract]
Investments in Affiliates Accounted for Using the Equity Method	(8) Investments in Affiliates Accounted for Using the Equity Method Liberty has various investments accounted for using the equity method. The following table includes Liberty's carrying amount and percentage ownership of the more significant investments in affiliates at December 31, 2009 and the carrying amount at December 31, 2008: December 31, December 31, 2009 2008 Percentage Carrying Carrying ownership amount amount dollar amounts in millions Interactive Group Expedia 24% $ 631 559 Other various 264 342 Capital Group SIRIUS XM 40% 33 -- Other various 102 223 Starz Group Other various -- 12 $ 1,030 1,136 The following table presents Liberty's share of earnings (losses) of affiliates: Years ended December 31, 2009 2008 2007 amounts in millions Interactive Group Expedia $ 72 (726) 68 Other (86) (466) 9 Capital Group SIRIUS XM (28) -- -- Other (6) (64) (68) Starz Group Other (10) (7) -- $ (58) (1,263) 9 Expedia Our share of losses of Expedia for the year ended December 31, 2008 includes a $119 million other than temporary impairment charge. The market value of the Company's investment in Expedia was $1,781 million and $570 million at December 31, 2009 and 2008, respectively. Summarized unaudited financial information for Expedia is as follows: Expedia Consolidated Balance Sheets December 31, 2009 2008 amounts in millions Current assets $ 1,225 1,199 Property and equipment 237 248 Goodwill 3,604 3,539 Intangible assets 823 833 Other assets 48 75 Total assets $ 5,937 5,894 Current liabilities $ 1,835 1,566 Deferred income taxes 224 190 Long-term debt 895 1,545 Other liabilities 233 212 Noncontrolling interest 67 64 Stockholders' equity 2,683 2,317 Total liabilities and equity $ 5,937 5,894 Expedia Consolidated Statements of Operations Years ended December 31, 2009 2008 2007 amounts in millions Revenue $ 2,955 2,937 2,665 Cost of revenue (607) (639) (565) Gross profit 2,348 2,298 2,100 Selling, general and administrative expenses (1,637) (1,662) (1,493) Amortization (38) (69) (78) Impairment of long-lived assets and other (102) (2,996) -- Operating income (loss) 571 (2,429) 529 Interest expense (84) (72) (53) Interest income 6 30 39 Other expense, net (35) (44) (18) Income tax expense (154) (6) (203) Net earnings (loss) 304 (2,521) 294 Net (earnings) loss attributable to noncontrolling interests (4) 3

Financial Instruments

Financial Instruments
	12 Months Ended Dec. 31, 2009
Financial Instruments [Abstract]
Financial Instruments	(9) Financial Instruments Equity Collars The Company has entered into equity collars and other financial instruments to manage market risk associated with its investments in certain marketable securities. These instruments are recorded at fair value based on option pricing models. Equity collars provide the Company with a put option that gives the Company the right to require the counterparty to purchase a specified number of shares of the underlying security at a specified price at a specified date in the future. Equity collars also provide the counterparty with a call option that gives the counterparty the right to purchase the same securities at a specified price at a specified date in the future. The put option and the call option generally have equal fair values at the time of origination resulting in no cash receipts or payments. Borrowed Shares From time to time and in connection with certain of its derivative instruments, Liberty borrows shares of the underlying securities from a counterparty and delivers these borrowed shares in settlement of maturing derivative positions. In these transactions, a similar number of shares that are owned by Liberty have been posted as collateral with the counterparty. These share borrowing arrangements can be terminated at any time at Liberty's option by delivering shares to the counterparty. The counterparty can terminate these arrangements at any time. The liability under these share borrowing arrangements is marked to market each reporting period with changes in value recorded in unrealized gains or losses in the consolidated statement of operations. The shares posted as collateral under these arrangements are marked to market each reporting period with changes in value recorded as unrealized gains or losses in the consolidated statement of operations. The Company's financial instruments are summarized as follows: Type of December 31, financial instrument 2009 2008 amounts in millions Assets Equity collars (1) $ 752 2,206 Other -- 93 752 2,299 Less current portion (752) (1,133) $ -- 1,166 Liabilities Borrowed shares $ 851 392 Other 283 350 1,134 742 Less current portion (1,002) (553) $ 132 189 (1) Represents the Company's Sprint equity collars at December 31, 2009. The Company has made borrowings against substantially all of the future proceeds to be received by the Company upon expiration of these equity collars. See note 11. (2) Borrowed shares are as follows: December 31, 2009 2008 amounts in millions Time Warner $ 88 91 Time Warner Cable 31 -- Sprint 125 17 Motorola 403 230 CenturyTel 84 16 Other 120 38 $ 851 392 Realized and Unrealized Gains (Losses) on Financial Instruments Realized and unrealized gains (losses) on financial instruments are comprised of changes in the fair value of the following: Years ended December 31, 2009 2008 2007 amounts in millions

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets
	12 Months Ended Dec. 31, 2009
Goodwill and Other Intangible Assets [Abstract]
Goodwill and Other Intangible Assets	(10) Goodwill and Other Intangible Assets Changes in the carrying amount of goodwill are as follows: Starz Starz QVC Entertainment Media Other Total amounts in millions Balance at January 1, 2008 $ 5,419 1,371 194 770 7,754 Acquisitions -- -- -- 62 62 Impairment (1) -- (1,239) (186) (115) (1,540) Foreign currency translation adjustments (54) -- (8) -- (62) Other (2) -- -- (11) (13) Balance at December 31, 2008 5,363 132 -- 706 6,201 Impairment -- -- -- (3) (3) Foreign currency translation adjustments 20 -- -- -- 20 Other 12 -- -- (5) 7 Balance at December 31, 2009 $ 5,395 132 -- 698 6,225 As of December 31, 2009, the accumulated impairment losses for Starz Entertainment, Starz Media and Other were $2,592 million, $368 million and $119 million, respectively. (1) Liberty performs its annual evaluation of the recoverability of its goodwill and other indefinite lived intangible assets each December. In its Step 1 Test in 2008, Liberty estimated the fair value of each of its reporting units using a combination of discounted cash flows and market based valuation methodologies. For those reporting units whose estimated fair value exceeded the carrying value, no further testwork was required and no impairment was recorded. For those reporting units whose carrying value exceeded the fair value, a Step 2 Test was performed. In the Step 2 Test, the fair value of the reporting unit was allocated to all of the assets and liabilities of the reporting unit with any residual value being allocated to goodwill. The difference between such allocated amount and the carrying value of the goodwill is recorded as an impairment charge. In connection with its analysis, Liberty recorded the following impairment charges (amounts in millions): Starz Entertainment $ 1,239 Starz Media 192 Other 138 $ 1,569 Liberty believes that the foregoing impairment charges, which also include $29 million of impairments of intangible assets other than goodwill, are due in large part to the 2008 economic crisis and the downward impact it had on perceptions of future growth prospects and valuation multiples for its reporting units. While Starz Entertainment had increasing revenue and Adjusted OIBDA, as defined in note 20, in recent years, it failed the Step 1 Test due to the aforementioned lower future growth expectations and the compression of market multiples. In performing the Step 2 Test, Starz Entertainment allocated a significant portion of its estimated fair value to amortizable intangibles such as affiliation agreements and trade names which have little or no carrying value. The resulting residual goodwill was significantly less than its carrying value. Accordingly, Starz Entertainment recorded an impairment charge. The impairment loss for Starz Media is due primarily to a lowered

Long-Term Debt

Long-Term Debt
	12 Months Ended Dec. 31, 2009
Long-Term Debt
Long-Term Debt	(11) Long-Term Debt Debt is summarized as follows: Outstanding principal Carrying value December 31, December 31, 2009 2009 2008 Capital Group amounts in millions Exchangeable senior debentures 3.125% Exchangeable Senior Debentures due 2023 $ 1,138 1,157 918 4% Exchangeable Senior Debentures due 2029 469 243 256 3.75% Exchangeable Senior Debentures due 2030 460 237 241 3.5% Exchangeable Senior Debentures due 2031 494 297 138 Liberty bank facility 750 750 750 Liberty derivative loan 838 838 625 Subsidiary debt 131 131 135 Total attributed Capital Group debt 4,280 3,653 3,063 Interactive Group Senior notes and debentures Senior Notes repaid in 2009 -- -- 117 5.7% Senior Notes due 2013 803 801 801 8.5% Senior Debentures due 2029 287 284 284 8.25% Senior Debentures due 2030 504 501 501 3.25% Exchangeable Senior Debentures due 2031 541 320 138 QVC 7.5% Senior Secured Notes due 2019 1,000 983 -- QVC bank credit facilities 2,996 2,996 5,230 Other debt 188 188 60 Total attributed Interactive Group debt 6,319 6,073 7,131 Starz Group Subsidiary debt 48 48 52 Total consolidated Liberty debt $ 10,647 9,774 10,246 Less current portion (1,932) (616) Total long-term debt $ 7,842 9,630 Exchangeable Senior Debentures Each $1,000 debenture of Liberty's 3.125% Exchangeable Senior Debentures is exchangeable at the holder's option for the value of 19.136 shares of Time Warner common stock, 4.8033 shares of Time Warner Cable common stock and 1.7396 shares of AOL Inc. common stock. Liberty may, at its election, pay the exchange value in cash, Time Warner, Time Warner Cable and AOL common stock, shares of Liberty common stock or a combination thereof. On or after April 5, 2013, Liberty, at its option, may redeem the debentures, in whole or in part, for cash equal to the face amount of the debentures plus accrued interest. On March 30, 2013 or March 30, 2018, each holder may cause Liberty to purchase its exchangeable debentures, and Liberty, at its election, may pay the purchase price in shares of Time Warner, Time Warner Cable and AOL common stock, cash, Liberty common stock, or any combination thereof. Each $1,000 debenture of Liberty's 4% Exchangeable Senior Debentures is exchangeable at the holder's option for the value of 11.4743 shares of Sprint common stock and .786 shares of CenturyTel common stock. Liberty may, at its election, pay the exchange value in cash, Sprint and CenturyTel common stock or a combination thereof. Liberty, at its option, may redeem the debentures, in whole or in part, for cash generally equal to the face amount of the debentures plus accrued interest. Each $1,000 debenture of Liberty's 3.75% Exchangeable Senior Debentures is exc

Income Taxes

Income Taxes
	12 Months Ended Dec. 31, 2009
Income Taxes [Abstract]
Income Taxes	(12) Income Taxes Income tax benefit (expense) consists of: Years ended December 31, 2009 2008 2007 amounts in millions Current: Federal $ (19) (143) (19) State and local (36) (18) (81) Foreign (87) (94) (93) (142) (255) (193) Deferred: Federal 108 858 (153) State and local 47 129 32 Foreign 3 10 1 158 997 (120) Income tax benefit (expense) $ 16 742 (313) Income tax benefit (expense) differs from the amounts computed by applying the U.S. federal income tax rate of 35% as a result of the following: Years ended December 31, 2009 2008 2007 amounts in millions Computed expected tax benefit (expense) $ (217) 1,061 (795) Nontaxable exchange of investments for subsidiaries and cash -- -- 541 State and local income taxes, net of federal income taxes (4) 70 (35) Foreign taxes, net of foreign tax credits (3) 35 (1) Change in valuation allowance affecting tax expense 9 (5) (5) Impairment of goodwill not deductible for tax purposes -- (462) (11) Nontaxable gains (losses) related to the Company's common stock 21 (64) -- Recognition of tax benefits (expense) not previously recognized, net 201 75 (6) Expenses not deductible for income tax purposes (16) -- (3) Excess tax deductions over book expense 19 -- -- Other, net 6 32 2 Income tax benefit (expense) $ 16 742 (313) The tax effects of temporary differences that give rise to significant portions of the deferred income tax assets and deferred income tax liabilities are presented below: December 31, 2009 2008 amounts in millions Deferred tax assets: Net operating and capital loss carryforwards $ 174 336 Accrued stock compensation 114 89 Other accrued liabilities 226 259 Deferred revenue 420 370 Other future deductible amounts 42 140 Deferred tax assets 976 1,194 Valuation allowance (17) (23) Net deferred tax assets 959 1,171 Deferred tax liabilities: Investments 1,536 1,227 Intangible assets 2,021 2,094 Discount on exchangeable debentures 963 1,652 Deferred gain on debt retirements 321 -- Other 42 114 Deferred tax liabilities 4,881 5,087 Net deferred tax liabilities $ 3,922 3,916 The Company's deferred tax assets and liabilities are reported in the accompanying consolidated balance sheets as follows: December 31, 2009 2008 amounts in millions Current deferred tax liabilities $ 1,247 773 Long-term deferred tax liabilities 2,675 3,143 Net deferred tax liabilities $ 3,922 3,916 The Company's valuat

Stockholders' Equity

Stockholders' Equity
	1/1/2009 - 12/31/2009
Stockholders' Equity
Stockholders' Equity	(13) Stockholders' Equity Preferred Stock Liberty's preferred stock is issuable, from time to time, with such designations, preferences and relative participating, optional or other rights, qualifications, limitations or restrictions thereof, as shall be stated and expressed in a resolution or resolutions providing for the issue of such preferred stock adopted by Liberty's Board of Directors. As of December 31, 2009, no shares of preferred stock were issued. Common Stock Series A Liberty Capital common stock, Series A Liberty Starz common stock and Series A Liberty Interactive common stock each has one vote per share, and Series B Liberty Capital common stock, Series B Liberty Starz common stock and Series B Liberty Interactive common stock each has ten votes per share. Each share of the Series B common stock is exchangeable at the option of the holder for one share of Series A common stock of the same group. The Series A and Series B common stock of each Group participate on an equal basis with respect to dividends and distributions of that Group. As of December 31, 2009, there were 5.1 million shares of Series A Liberty Capital common stock, respectively, reserved for issuance under exercise privileges of outstanding stock options. As of December 31, 2009, there were 40.8 million and 7.5 million shares of Series A and Series B Liberty Interactive common stock, respectively, reserved for issuance under exercise privileges of outstanding stock options. As of December 31, 2009, there were 2.6 million and0.6 million shares of Series A and Series B Liberty Starz common stock, respectively, reserved for issuance under exercise privileges of outstanding stock options. In addition to the Series A and Series B Liberty Capital common stock, the Series A and Series B Liberty Interactive common stock and the Series A and Series B Liberty Starz common stock, there are 2.0 billion, 4.0 billion and 4.0 billion shares of Series C Liberty Capital, Series C Liberty Interactive and Series C Liberty Starz common stock, respectively, authorized for issuance. As of December 31, 2009, no shares of any Series C common stock were issued or outstanding. Purchases of Common Stock During the year ended December 31, 2007, the Company repurchased 56.3 million shares of Series A Liberty Interactive common stock for aggregate cash consideration of $1,224 million. Liberty also repurchased 11.5 million shares of Series A Liberty Capital common stock for aggregate cash consideration of $1,305 million (including transaction costs). During the year ended December 31, 2008, the Company repurchased 4.7 million shares of Series A Liberty Interactive common stock in the open market for aggregate cash consideration of $83 million (including $8 million to settle put obligations pursuant to which 2.1 million shares of Liberty Interactive common stock were repurchased) and 33.2 million shares of Series A Liberty Capital common stock for aggregate cash consideration of $478 million (including $16 million to settle put obligations pursuant to which 2.2 million shares of Liberty Capital common stock were repurchased). As described in note 2, in Novembe

Transactions with Officers and

Transactions with Officers and Directors
	12 Months Ended Dec. 31, 2009
Transactions with Officers and Directors [Abstract]
Transactions with Officers and Directors	(14) Transactions with Officers and Directors Chief Executive Officer Compensation Arrangement On December 17, 2009, the Compensation Committee (the "Committee") of Liberty approved a new compensation arrangement for its President and Chief Executive Officer (the "CEO"). The arrangement provides for a five year employment term beginning January 1, 2010 and ending December 31, 2014, with an annual base salary of $1.5 million, increasing annually by 5% of the prior year's base salary, and an annual target cash bonus equal to 200% of the applicable year's annual base salary. The arrangement also provides that, in the event the CEO is terminated for "cause" or terminates his employment without "good reason," he will be entitled only to his accrued base salary and any amounts due under applicable law, and he will forfeit all rights to his unvested restricted shares and unvested options. If, however, the CEO is terminated by Liberty without cause of if he terminates his employment for good reason, the arrangement provides for him to receive $7.8 million and for his unvested restricted shares and unvested options to vest pro rata based on the portion of the term elapsed through the termination date plus 18 months and for all vested and accelerated options to remain exercisable until their respective expiration dates. Lastly, in the case of the CEO's death or his disability, the arrangement provides for a payment of $7.8 million, for his unvested restricted shares and unvested options to fully vest and for his vested and accelerated options to remain exercisable until their respective expiration dates. Also, on December 17, 2009, in connection with the approval of his compensation arrangement, the CEO received a one-time grant of options to purchase the following shares of Liberty with exercise prices equal to the closing sale prices of the applicable series of stock on the grant date: 8,743,000 shares of Series A Liberty Interactive common stock, 760,000 shares of Series A Liberty Starz common stock and 1,353,000 shares of Series A Liberty Capital common stock. One-half of the options will vest on the fourth anniversary of the grant date with the remaining options vesting on the fifth anniversary of the grant date, in each case, subject to the CEO being employed by Liberty on the applicable vesting date. The options will have a term of 10 years. Chief Executive Officer Investment in Subsidiary In the fourth quarter of 2009, the CEO invested $2 million cash in Lockerz, LLC, a subsidiary of Liberty, in exchange for a 28.6% ownership interest. Chairman's Employment Agreement On December 12, 2008, the Committee determined to modify its employment arrangements with its Chairman of the Board, to permit the Chairman to begin receiving payments in 2009 in satisfaction of Liberty's obligations to him under two deferred compensation plans and a salary continuation plan. Under one of the deferred compensation plans (the "8% Plan"), compensation has been deferred by the Chairman since January 1, 1993 and accrues interest at the rate of 8% per annum compounded annually from the applicable date of deferral. The amount owed to the Chairman und

Stock Options and Stock Appreci

Stock Options and Stock Appreciation Rights
	12 Months Ended Dec. 31, 2009
Stock Options and Stock Appreciation Rights
Stock Options and Stock Appreciation Rights	(15) Stock Options and Stock Appreciation Rights LibertyIncentive Plans Pursuant to the Liberty Media Corporation 2000 Incentive Plan, as amended from time to time (the "2000 Plan"), the Company has granted to certain of its employees stock options and SARs (collectively, "Awards") to purchase shares of Series A and Series B Liberty Capital, Liberty Entertainment and Liberty Interactive common stock. The 2000 Plan provides for Awards to be made in respect of a maximum of 69.5 million shares of Liberty common stock. On May 1, 2007, stockholders of the Company approved the Liberty Media Corporation 2007 Incentive Plan (the "2007 Plan"). The 2007 Plan provides for Awards to be made in respect of a maximum of 39.3 million shares of Liberty common stock. Awards generally vest over 4-5 years and have a term of 7-10 years. Liberty issues new shares upon exercise of equity awards. Pursuant to the Liberty Media Corporation 2002 Nonemployee Director Incentive Plan, as amended from time to time (the "NDIP"), the Liberty Board of Directors has the full power and authority to grant eligible nonemployee directors stock options, SARs, stock options with tandem SARs, and restricted stock. LibertyGrants Awards granted in 2009, 2008 and 2007 pursuant to the 2000 Plan, the 2007 Plan and the NDIP are summarized as follows: Year ended December 31, 2009 2008 2007 Weighted Weighted Weighted average average average Options grant-date Options grant-date Options grant-date granted fair value granted fair value granted fair value Series A Liberty Interactive 17,519,391 $ 3.57 9,405,564 $ 2.30 6,093,384 $ 5.88 Series A Liberty Capital 1,649,511 $ 12.17 1,285,787 $ 1.19 739,681 $ 28.78 Series A Liberty Starz 2,083,429 $ 14.33 5,261,721 $ 5.79 N/A N/A In addition, in April 2009, Liberty completed an exchange offer pursuant to which eligible employees of QVC and BuySeasons were offered the opportunity to exchange all (but not less than all) of their outstanding stock options to purchase shares of Series A Liberty Interactive common stock ("LINTA") with an exercise price greater than $7.00 for new options to acquire shares of LINTA. Eligible option holders tendered an aggregate of 11,311,787 shares of LINTA. In exchange, Liberty granted the tendering option holders an aggregate of 2,828,022 options to purchase shares of LINTA with an exercise price of $3.41 per share and 2,828,022 options to purchase shares of LINTA with an exercise price of $6.00 per share. The difference between the fair value of the options granted in the exchange offer and the fair value of the options tendered, which aggregated $3 million, will be recognized as stock compensation expense over the vesting term of the options granted. The Company has calculated the grant-date fair value for all of its equity classified awards and any subsequent remeasurement of its liability classified awards using the Black-Scholes Model. The Company estimates the expected term of the Awards based o

Employee Benefit Plans

Employee Benefit Plans
	12 Months Ended Dec. 31, 2009
Employee Benefit Plans [Abstract]
Employee Benefit Plans	(16) Employee Benefit Plans Liberty is the sponsor of the Liberty Media 401(k) Savings Plan (the "Liberty 401(k) Plan"), which provides its employees and the employees of certain of its subsidiaries an opportunity for ownership in the Company and creates a retirement fund. The Liberty 401(k) Plan provides for employees to make contributions to a trust for investment in Liberty common stock, as well as several mutual funds. The Company and its subsidiaries make matching contributions to the Liberty 401(k) Plan based on a percentage of the amount contributed by employees. In addition, certain of the Company's subsidiaries have similar employee benefit plans. Employer cash contributions to all plans aggregated $31 million, $31 million and $26 million for the years ended December 31, 2009, 2008 and 2007, respectively.

Other Comprehensive Earnings

Other Comprehensive Earnings (Loss)
	12 Months Ended Dec. 31, 2009
Other Comprehensive Earnings (Loss) [Abstract]
Other Comprehensive Earnings (Loss)	(17) Other Comprehensive Earnings (Loss) Accumulated other comprehensive earnings (loss) included in Liberty's consolidated balance sheets and consolidated statements of equityreflect the aggregate of foreign currency translation adjustments, unrealized holding gains and losses on AFS securities and Liberty's share of accumulated other comprehensive earnings of affiliates. The change in the components of accumulated other comprehensive earnings (loss), net of taxes ("AOCI"), is summarized as follows: Foreign Unrealized Share of AOCI currency holding AOCI of translation gains (losses) of equity discontinued adjustments on securities affiliates Other operations AOCI amounts in millions Balance at January 1, 2007 $ 169 2,878 1 -- 2,904 5,952 Other comprehensive earnings (loss) attributable to Liberty Media Corporation stockholders 95 (1,614) 3 (46) (317) (1,879) Balance at December 31, 2007 264 1,264 4 (46) 2,587 4,073 Other comprehensive loss attributable to Liberty Media Corporation stockholders (46) (227) (10) (62) (2,618) (2,963) Cumulative effect of accounting change -- (1,040) -- -- -- (1,040) Balance at December 31, 2008 218 (3) (6) (108) (31) 70 Other comprehensive earnings (loss) attributable to Liberty Media Corporation stockholders 10 203 (5) 43 31 282 Balance at December 31, 2009 $ 228 200 (11) (65) -- 352 The components of other comprehensive earnings (loss) are reflected in Liberty's consolidated statements of comprehensive earnings (loss) net of taxes. The following table summarizes the tax effects related to each component of other comprehensive earnings (loss). Tax Before-tax (expense) Net-of-tax amount benefit amount amounts in millions Year ended December 31, 2009: Foreign currency translation adjustments $ 5 (2) 3 Unrealized holding gains on securities arising during period 371 (141) 230 Reclassification adjustment for holding gains realized in net loss (44) 17 (27) Share of other comprehensiveloss of equity affiliates (8) 3 (5) Other 69 (26) 43 Other comprehensive earnings from discontinued operations 50 (19) 31 Other comprehensive earnings $ 443 (168) 275 Year ended December 31, 2008: Foreign currency translation adjustments $ (31) 12 (19) Unrealized holding losses on securities arising during period (806) 306 (500) Reclassification adjustment for holding losses realized in net earnings 440 (167) 273 Share of other comprehensive loss of equity affiliates (16) 6 (10) Other (100) 38 62) Other comprehensive loss from discontinued operations (4,223) 1

Transactions with Related Parti

Transactions with Related Parties
	12 Months Ended Dec. 31, 2009
Transactions with Related Parties [Abstract]
Transactions with Related Parties	(18) Transactions with Related Parties During the year ended December 31, 2009 and the period from February 27, 2008 to December 31, 2008, subsidiaries of Liberty recognized aggregate revenue of $303 million and $264 million, respectively, from DIRECTV for distribution of their programming. In addition, subsidiaries of Liberty made aggregate payments of $40 million and $31 million in 2009 and 2008, respectively, to DIRECTV for carriage and marketing. Starz Entertainment pays Revolution Studios ("Revolution"), an equity affiliate, fees for the rights to exhibit films produced by Revolution. Payments aggregated $46 million and $58 million in 2008 and 2007, respectively.

Commitments and Contingencies

Commitments and Contingencies
	12 Months Ended Dec. 31, 2009
Commitments and Contingencies [Abstract]
Commitments and Contingencies	(19) Commitments and Contingencies Film Rights Starz Entertainment, a wholly-owned subsidiary of Liberty, provides premium video programming distributed by cable operators, direct-to-home satellite providers, telephone companies, other distributors and the Internet throughout the United States. Starz Entertainment has entered into agreements with a number of motion picture producers which obligate Starz Entertainment to pay fees ("Programming Fees") for the rights to exhibit certain films that are released by these producers. The unpaid balance of Programming Fees for films that were available for exhibition by Starz Entertainment at December 31, 2009 is reflected as a liability in the accompanying consolidated balance sheet. The balance due as of December 31, 2009 is payable as follows: $62 million in 2010 and $7 million in 2011. Starz Entertainment has also contracted to pay Programming Fees for films that have been released theatrically, but are not available for exhibition by Starz Entertainment until some future date. These amounts have not been accrued at December 31, 2009. In addition, Starz Entertainment has agreed to pay Sony Pictures Entertainment ("Sony") (i) a total of $190 million in four equal annual installments beginning in 2011 for a contract extension through 2013, and (ii) a total of $120 million in three equal annual installments beginning in 2015 for a new output agreement. Starz Entertainment's estimate of amounts payable under these agreements is as follows: $449 million in 2010; $125 million in 2011; $94 million in 2012; $84 million in 2013; $67 million in 2014 and $145 million thereafter. In addition, Starz Entertainment is also obligated to pay Programming Fees for all qualifying films that are released theatrically in the United States by studios owned by The Walt Disney Company ("Disney") through 2012 and all qualifying films that are released theatrically in the United States by studios owned by Sony through 2016. Films are generally available to Starz Entertainment for exhibition 10-12 months after their theatrical release. The Programming Fees to be paid by Starz Entertainment are based on the quantity and the domestic theatrical exhibition receipts of qualifying films. As these films have not yet been released in theatres, Starz Entertainment is unable to estimate the amounts to be paid under these output agreements. However, such amounts are expected to be significant. In February 2009, Disney announced that it has agreed to enter into a long-term distribution arrangement with DreamWorks Studios. Under the terms of this arrangement, Disney will handle distribution and marketing for approximately six DreamWorks films each year. As a result of this arrangement, the number of qualifying films under Starz Entertainment's output agreement with Disney may be higher than it would have been otherwise. Guarantees Liberty guarantees Starz Entertainment's obligations under certain of its studio output agreements. At December 31, 2009, Liberty's guarantees for obligations for films released by such date aggregated $656 million. While the guarantee amount for films not yet released is not determinable, s

Information About Liberty's Ope

Information About Liberty's Operating Segments
	12 Months Ended Dec. 31, 2009
Information About Liberty's Operating Segments [Abstract]
Information About Liberty's Operating Segments	(20) Information About Liberty's Operating Segments Liberty, through its ownership interests in subsidiaries and other companies, is primarily engaged in the video and on-line commerce, media, communications and entertainment industries. Liberty has attributed each of its businesses to one of three groups: the Interactive Group, the Starz Group and the Capital Group. Each of the businesses in the tracking stock groups is separately managed. Liberty identifies its reportable segments as (A) those consolidated subsidiaries that represent 10% or more of its consolidated revenue, pre-tax earnings or total assets and (B) those equity method affiliates whose share of earnings represent 10% or more of Liberty's pre-tax earnings. The segment presentation for prior periods has been conformed to the current period segment presentation. Liberty evaluates performance and makes decisions about allocating resources to its operating segments based on financial measures such as revenue, Adjusted OIBDA, gross margin, average sales price per unit, number of units shipped and revenue or sales per customer equivalent. In addition, Liberty reviews nonfinancial measures such as subscriber growth, penetration, website visitors, conversion rates and active customers, as appropriate. Liberty defines Adjusted OIBDA as revenue less cost of sales, operating expenses, and selling, general and administrative expenses (excluding stock-based compensation). Liberty believes this measure is an important indicator of the operational strength and performance of its businesses, including each business's ability to service debt and fund capital expenditures. In addition, this measure allows management to view operating results and perform analytical comparisons and benchmarking between businesses and identify strategies to improve performance. This measure of performance excludes depreciation and amortization, stock-based compensation, separately reported litigation settlements and restructuring and impairment charges that are included in the measurement of operating income pursuant to GAAP. Accordingly, Adjusted OIBDA should be considered in addition to, but not as a substitute for, operating income, net income, cash flow provided by operating activities and other measures of financial performance prepared in accordance with GAAP. Liberty generally accounts for intersegment sales and transfers as if the sales or transfers were to third parties, that is, at current prices. For the year ended December 31, 2009, Liberty has identified the following businesses as its reportable segments: QVCconsolidated subsidiary attributed to the Interactive Group that markets and sells a wide variety of consumer products in the United States and several foreign countries, primarily by means of televised shopping programs on the QVC networks and via the Internet through its domestic and international websites. Starz Entertainmentconsolidated subsidiary attributed to the Starz Group that provides premium programming distributed by cable operators, direct-to-home satellite providers, telephone companies, other distributors and the Internet throughout the United States. Star

Quarterly Financial Information

Quarterly Financial Information
	12 Months Ended Dec. 31, 2009
Quarterly Financial Information [Abstract]
Quarterly Financial Information	(21) Quarterly Financial Information (Unaudited) 1st 2nd 3rd 4th Quarter Quarter Quarter Quarter amounts in millions, except per share amounts 2009: Revenue $ 2,253 2,434 2,302 3,169 Operating income $ 212 322 167 349 Earnings (loss) from continuing operations $ (148) 396 (100) 489 Net earnings (loss) attributable to Liberty Media Corporation stockholders: Series A and Series B Liberty Capital common stock $ (160) 201 (132) 218 Series A and Series B Liberty Starz common stock $ 81 149 2 5,845 Series A and Series B Liberty Interactive common stock $ (57) 128 (6) 193 Basic earnings (loss) from continuing operations attributable to Liberty Media Corporation stockholders per common share: Series A and Series B Liberty Capital common stock $ (1.67) 2.09 (1.38) 2.27 Series A and Series B Liberty Starz common stock $ .12 .11 .06 .22 Series A and Series B Liberty Interactive common stock $ (.10) .22 (.01) .32 Diluted earnings (loss) from continuing operations attributable to Liberty Media Corporation stockholders per common share: Series A and Series B Liberty Capital common stock $ (1.67) 2.07 (1.38) 2.22 Series A and Series B Liberty Starz common stock $ .12 .11 .06 .21 Series A and Series B Liberty Interactive common stock $ (.10) .21 (.01) .32 Basic net earnings (loss) attributable to Liberty Media Corporation stockholders per common share: Series A and Series B Liberty Capital common stock $ (1.67) 2.09 (1.38) 2.27 Series A and Series B Liberty Starz common stock $ .16 .29 -- 19.42 Series A and Series B Liberty Interactive common stock $ (.10) .22 (.01) .32 Diluted net earnings (loss) attributable to Liberty Media Corporation stockholders per common share: Series A and Series B Liberty Capital common stock $ (1.67) 2.07 (1.38) 2.22 Series A and Series B Liberty Starz common stock $ .16 .29 -- 19.29 Series A and Series B Liberty Interactive common stock $ (.10) .21 (.01) .32 1st 2nd 3rd 4th Quarter Quarter Quarter Quarter amounts in millions, except per share amounts 2008: Revenue $ 2,316 2,406 2,299 2,796 Operating income (loss) $ 226 240 64 (1,288) Earnings (loss) from continuing operations $ (10) 146 (295) (2,130) Net earnings (loss) attributable to Liberty Media Corporation stockholders: Series A and Series B Liberty Capital common stock $ (105) (30) (112) (279) Series A and Series B Liberty Starz common stock $ 35 63 147 (861) Series A and Series B Liberty Interactive common stock $ 125 92 (283) (

Document and Entity Information

Document and Entity Information (USD $)
In Billions, except Share data	12 Months Ended Dec. 31, 2009	Jun. 30, 2009	Jan. 29, 2010 Series A [Member] Segment, Liberty Capital [Member]	Jan. 29, 2010 Series A [Member] Segment, Liberty Starz [Member]	Jan. 29, 2010 Series A [Member] Segment, Liberty Interactive [Member]	Jan. 29, 2010 Series B [Member] Segment, Liberty Capital [Member]	Jan. 29, 2010 Series B [Member] Segment, Liberty Starz [Member]	Jan. 29, 2010 Series B [Member] Segment, Liberty Interactive [Member]
Document Information [Line Items]
Document Type	10-K
Amendment Flag	false
Document Period End Date	2009-12-31
Entity Information [Line Items]
Entity Registrant Name	LIBERTY MEDIA CORP
Entity Central Index Key	0001355096
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Public Float		17.1
Entity Listings [Line Items]
Entity Common Stock, Shares Outstanding			89,888,078	49,418,326	567,475,938	7,405,151	2,365,545	29,276,689