The Liberty Braves Group (BATRK) 10-K 1 Mar 18 2017 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2017	Jan. 31, 2018	Jun. 30, 2017
Entity Registrant Name	Liberty Media Corp
Entity Central Index Key	1,560,385
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
Document Type	10-K
Document Period End Date	Dec. 31, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	FY
Amendment Flag	false
Entity Public Float			$ 22.2
Liberty Sirius XM Group Common Class A
Entity Common Stock, Shares Outstanding		102,710,302
Liberty Sirius XM Group Common Class B
Entity Common Stock, Shares Outstanding		9,821,531
Liberty Sirus XM Group Common Class C
Entity Common Stock, Shares Outstanding		223,619,199
Liberty Braves Group Common Class A
Entity Common Stock, Shares Outstanding		10,243,193
Liberty Braves Group Common Class B
Entity Common Stock, Shares Outstanding		981,860
Liberty Braves Group Common Class C
Entity Common Stock, Shares Outstanding		39,723,308
Liberty Formula One Group Common Class A
Entity Common Stock, Shares Outstanding		25,649,445
Liberty Formula One Group Common Class B
Entity Common Stock, Shares Outstanding		2,454,448
Liberty Formula One Group Common Class C
Entity Common Stock, Shares Outstanding		202,720,256

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 31, 2017	Dec. 31, 2016
Assets, Current
Cash and cash equivalents	$ 1,029	$ 562
Trade and other receivables, net	358	240
Other current assets	376	227
Total current assets	1,763	1,029
Investments in available-for-sale securities and other cost investments	1,114	1,309
Investments in affiliates, accounted for using the equity method	1,750	1,117
Property and equipment, at cost	3,596	3,182
Accumulated depreciation	(1,055)	(830)
Property and equipment, net	2,541	2,352
Goodwill	18,383	14,345
FCC licenses	8,600	8,600
Other	1,074	1,073
Intangible assets not subject to amortization	28,057	24,018
Intangible assets subject to amortization, net	6,131	1,072
Other assets	640	480
Total assets	41,996	31,377
Liabilities, Current [Abstract]
Accounts Payable and accrued liabilities	1,250	985
Current portion of debt	768	5
Deferred revenue	1,941	1,877
Other current liabilities	20	5
Total current liabilities	3,979	2,872
Long-term debt	13,186	8,013
Deferred income tax liabilities	1,478	2,025
Other liabilities	779	751
Total liabilities	19,422	13,661
Stockholders' Equity Attributable to Parent [Abstract]
Preferred stock, $.01 par value. Authorized 50,000,000 shares; no shares issued
Additional paid-in capital	3,892	87
Accumulated other comprehensive earnings, net of taxes	(35)	(62)
Retained earnings	13,081	11,727
Stockholders' Equity Attributable to Parent, Total	16,943	11,756
Noncontrolling interests in equity of subsidiaries	5,631	5,960
Total equity	22,574	17,716
Commitments and contingencies
Total liabilities and equity	41,996	31,377
Liberty Sirius XM Group
Assets, Current
Cash and cash equivalents	615	287
Trade and other receivables, net	242	223
Other current assets	207	206
Total current assets	1,064	716
Investments in available-for-sale securities and other cost investments	580
Investments in affiliates, accounted for using the equity method	672	164
Property and equipment, at cost	2,274	2,079
Accumulated depreciation	(927)	(746)
Property and equipment, net	1,347	1,333
Goodwill	14,247	14,165
FCC licenses	8,600	8,600
Other	931	930
Intangible assets not subject to amortization	23,778	23,695
Intangible assets subject to amortization, net	972	998
Other assets	117	145
Total assets	28,530	27,051
Liabilities, Current [Abstract]
Accounts Payable and accrued liabilities	934	827
Current portion of debt	755	5
Deferred revenue	1,882	1,833
Other current liabilities	3	3
Total current liabilities	3,583	2,673
Long-term debt	6,741	6,102
Other liabilities	283	278
Total liabilities	12,054	11,020
Stockholders' Equity Attributable to Parent [Abstract]
Stockholders' Equity Attributable to Parent, Total	10,861	10,085
Noncontrolling interests in equity of subsidiaries	5,615	5,946
Total liabilities and equity	28,530	27,051
Liberty Sirius XM Group | Common Class A
Stockholders' Equity Attributable to Parent [Abstract]
Common Stock, Value, Issued	1	1
Liberty Sirius XM Group | Common Class C
Stockholders' Equity Attributable to Parent [Abstract]
Common Stock, Value, Issued	2	2
Braves Group
Assets, Current
Cash and cash equivalents	132	107
Trade and other receivables, net	32	15
Other current assets	56	17
Total current assets	220	139
Investments in available-for-sale securities and other cost investments	8	8
Investments in affiliates, accounted for using the equity method	145	61
Property and equipment, at cost	1,150	943
Accumulated depreciation	(51)	(13)
Property and equipment, net	1,099	930
Goodwill	180	180
Other	143	143
Intangible assets not subject to amortization	323	323
Intangible assets subject to amortization, net	49	73
Other assets	22	14
Total assets	1,866	1,548
Liabilities, Current [Abstract]
Accounts Payable and accrued liabilities	58	141
Current portion of debt	13
Deferred revenue	51	44
Other current liabilities	8
Total current liabilities	91	168
Long-term debt	649	328
Other liabilities	435	417
Total liabilities	1,439	1,148
Stockholders' Equity Attributable to Parent [Abstract]
Stockholders' Equity Attributable to Parent, Total	413	385
Noncontrolling interests in equity of subsidiaries	14	15
Total liabilities and equity	1,866	1,548
Formula One Group
Assets, Current
Cash and cash equivalents	282	168
Trade and other receivables, net	84	2
Other current assets	113	5
Total current assets	479	175
Investments in available-for-sale securities and other cost investments	526	1,301
Investments in affiliates, accounted for using the equity method	933	892
Property and equipment, at cost	172	160
Accumulated depreciation	(77)	(71)
Property and equipment, net	95	89
Goodwill	3,956
Intangible assets not subject to amortization	3,956
Intangible assets subject to amortization, net	5,110	1
Other assets	501	350
Total assets	11,802	2,995
Liabilities, Current [Abstract]
Accounts Payable and accrued liabilities	258	17
Deferred revenue	8
Other current liabilities	9	3
Total current liabilities	305	32
Long-term debt	5,796	1,583
Other liabilities	61	56
Total liabilities	6,131	1,710
Stockholders' Equity Attributable to Parent [Abstract]
Stockholders' Equity Attributable to Parent, Total	5,669	1,286
Noncontrolling interests in equity of subsidiaries	2	(1)
Total liabilities and equity	11,802	2,995
Formula One Group | Common Class C
Stockholders' Equity Attributable to Parent [Abstract]
Common Stock, Value, Issued	$ 2	$ 1

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Dec. 31, 2017	Dec. 31, 2016
Long-term Debt, Fair Value	$ 2,115	$ 1,546
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
Liberty Sirius XM Group | Common Class A
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	102,701,972	102,390,088
Common stock, shares outstanding	102,701,972	102,390,088
Liberty Sirius XM Group | Common Class B
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	9,821,531	9,870,856
Common stock, shares outstanding	9,821,531	9,870,856
Liberty Sirius XM Group | Common Class C
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	223,588,953	222,936,204
Common stock, shares outstanding	223,588,953	222,936,204
Braves Group | Common Class A
Common stock, par or stated value per share	$ 0.01	$ 0.01
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares issued	10,243,259	10,231,185
Common stock, shares outstanding	10,243,259	10,231,185
Braves Group | Common Class B
Common stock, par or stated value per share	$ 0.01	$ 0.01
Common stock, shares authorized	7,500,000	7,500,000
Common stock, shares issued	981,860	986,791
Common stock, shares outstanding	981,860	986,791
Braves Group | Common Class C
Common stock, par or stated value per share	$ 0.01	$ 0.01
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares issued	39,723,440	38,215,276
Common stock, shares outstanding	39,723,440	38,215,276
Formula One Group | Common Class A
Common stock, par or stated value per share	$ 0.01	$ 0.01
Common stock, shares authorized	500,000,000	500,000,000
Common stock, shares issued	25,649,611	25,593,352
Common stock, shares outstanding	25,649,611	25,593,352
Formula One Group | Common Class B
Common stock, par or stated value per share	$ 0.01	$ 0.01
Common stock, shares authorized	18,750,000	18,750,000
Common stock, shares issued	2,454,448	2,466,778
Common stock, shares outstanding	2,454,448	2,466,778
Formula One Group | Common Class C
Common stock, par or stated value per share	$ 0.01	$ 0.01
Common stock, shares authorized	500,000,000	500,000,000
Common stock, shares issued	202,720,588	55,737,179
Common stock, shares outstanding	202,720,588	55,737,179

Consolidated Statements Of Oper

Consolidated Statements Of Operations - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Revenue:
Subscriber revenue									$ 4,473	$ 4,194	$ 3,807
Formula 1 revenue									1,783
Other revenue									1,338	1,082	988
Total Revenue	$ 1,994	$ 2,065	$ 2,140	$ 1,395	$ 1,321	$ 1,385	$ 1,366	$ 1,204	7,594	5,276	4,795
Revenue share and royalties									1,210	1,109	1,035
Programming and content									388	354	267
Customer service and billing									385	387	380
Other									119	144	141
Cost of Formula 1 revenue									1,219
Subscriber acquisition costs									499	513	533
Other operating expense									394	306	262
Selling, general and administrative									1,162	886	861
Legal settlement, net										(511)
Depreciation and amortization									824	354	362
Total operating costs and expenses									6,200	3,542	3,841
Operating income (loss)	331	382	422	259	273	352	328	781	1,394	1,734	954
Other income (expense):
Interest expense									(591)	(362)	(328)
Share of earnings (losses) of affiliates, net									104	14	(40)
Realized and unrealized gains (losses) on financial instruments, net									(88)	37	(140)
Other, net									8	(4)	12
Total other income (expense)									(567)	(315)	(496)
Earnings (loss) from continuing operations before income taxes									827	1,419	458
Income tax (expense) benefit									1,063	(495)	(210)
Net earnings (loss)	1,429	261	156	44	186	169	142	427	1,890	924	248
Less net earnings (losses) attributable to the noncontrolling interests									536	244	184
Net earnings (loss) attributable to Liberty stockholders									1,354	680	64
Liberty Media Corporation
Other income (expense):
Net earnings (loss) attributable to Liberty stockholders							$ 13	$ 364		$ 377	$ 64
Basic net earnings (loss) attributable to Liberty stockholders per common share
Series A, B and C common stock, basic earnings loss per share							$ 0.04	$ 1.09		$ 1.13	$ 0.19
Diluted net earnings (loss) attributable to Liberty stockholders per common share
Series A, B and C common stock, diluted earnings loss per share							$ 0.04	$ 1.08		$ 1.12	$ 0.19
Liberty Sirius XM Group
Revenue:
Subscriber revenue									4,473	$ 4,194	$ 3,807
Other revenue									952	820	745
Total Revenue									5,425	5,014	4,552
Revenue share and royalties									1,210	1,109	1,035
Programming and content									388	354	267
Customer service and billing									385	387	380
Other									119	144	141
Subscriber acquisition costs									499	513	533
Other operating expense									113	82	73
Selling, general and administrative									812	761	728
Depreciation and amortization									352	312	322
Total operating costs and expenses									3,878	3,662	3,479
Operating income (loss)									1,547	1,352	1,073
Other income (expense):
Interest expense									(356)	(342)	(307)
Share of earnings (losses) of affiliates, net									29	13	(1)
Realized and unrealized gains (losses) on financial instruments, net									(16)
Other, net									(11)	(25)
Total other income (expense)									(354)	(354)	(308)
Earnings (loss) from continuing operations before income taxes									1,193	998	765
Income tax (expense) benefit									466	(341)	(322)
Net earnings (loss)									1,659	657	443
Less net earnings (losses) attributable to the noncontrolling interests									535	244	184
Net earnings (loss) attributable to Liberty stockholders	$ 694	$ 183	$ 123	$ 124	$ 119	$ 96	$ 82		$ 1,124	$ 297
Basic net earnings (loss) attributable to Liberty stockholders per common share
Series A, B and C common stock, basic earnings loss per share	$ 2.07	$ 0.54	$ 0.37	$ 0.37	$ 0.36	$ 0.29	$ 0.24		$ 3.35	$ 0.89
Diluted net earnings (loss) attributable to Liberty stockholders per common share
Series A, B and C common stock, diluted earnings loss per share	$ 2.04	$ 0.54	$ 0.36	$ 0.37	$ 0.35	$ 0.28	$ 0.24		$ 3.31	$ 0.88
Braves Group
Revenue:
Other revenue									$ 386	$ 262	243
Total Revenue									386	262	243
Other operating expense									281	224	189
Selling, general and administrative									151	67	61
Depreciation and amortization									67	32	31
Total operating costs and expenses									499	323	281
Operating income (loss)									(113)	(61)	(38)
Other income (expense):
Interest expense									(15)	(1)	(1)
Share of earnings (losses) of affiliates, net									78	9	9
Realized and unrealized gains (losses) on financial instruments, net										1
Other, net									3
Total other income (expense)									51	(18)	8
Earnings (loss) from continuing operations before income taxes									(62)	(79)	(30)
Income tax (expense) benefit									36	17	10
Net earnings (loss)									(26)	(62)	(20)
Less net earnings (losses) attributable to the noncontrolling interests									(1)
Net earnings (loss) attributable to Liberty stockholders	$ 4	$ 22	$ (2)	$ (49)	$ (40)	$ (22)	$ 32		$ (25)	$ (30)
Basic net earnings (loss) attributable to Liberty stockholders per common share
Series A, B and C common stock, basic earnings loss per share	$ 0.08	$ 0.45	$ (0.04)	$ (1)	$ (0.82)	$ (0.45)	$ 0.89		$ (0.51)	$ (0.65)
Diluted net earnings (loss) attributable to Liberty stockholders per common share
Series A, B and C common stock, diluted earnings loss per share	$ 0.07	$ 0.45	$ (0.04)	$ (1)	$ (0.82)	$ (0.45)	$ 0.11		$ (0.51)	$ (0.65)
Formula One Group
Revenue:
Formula 1 revenue									$ 1,783
Total Revenue									1,783
Cost of Formula 1 revenue									1,219
Selling, general and administrative									199	$ 58	72
Legal settlement, net										(511)
Depreciation and amortization									405	10	9
Total operating costs and expenses									1,823	(443)	81
Operating income (loss)									(40)	443	(81)
Other income (expense):
Interest expense									(220)	(19)	(20)
Share of earnings (losses) of affiliates, net									(3)	(8)	(48)
Realized and unrealized gains (losses) on financial instruments, net									(72)	36	(140)
Other, net									16	21	12
Total other income (expense)									(264)	57	(196)
Earnings (loss) from continuing operations before income taxes									(304)	500	(277)
Income tax (expense) benefit									561	(171)	102
Net earnings (loss)									257	329	$ (175)
Less net earnings (losses) attributable to the noncontrolling interests									2
Net earnings (loss) attributable to Liberty stockholders	$ 415	$ (37)	$ (27)	$ (96)	$ 40	$ 41	$ (45)		$ 255	$ 36
Basic net earnings (loss) attributable to Liberty stockholders per common share
Series A, B and C common stock, basic earnings loss per share	$ 1.80	$ (0.17)	$ (0.13)	$ (0.55)	$ 0.48	$ 0.49	$ (0.54)		$ 1.23	$ 0.43
Diluted net earnings (loss) attributable to Liberty stockholders per common share
Series A, B and C common stock, diluted earnings loss per share	$ 1.79	$ (0.17)	$ (0.13)	$ (0.55)	$ 0.47	$ 0.48	$ (0.54)		$ 1.21	$ 0.42

Consolidated Statements Of Comp

Consolidated Statements Of Comprehensive Earnings (Loss) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Net earnings (loss)	$ 1,890	$ 924	$ 248
Other comprehensive earnings (loss), net of taxes:
Foreign currency translation adjustments	24	4	(42)
Unrealized holding gains (losses) arising during the period	(3)
Share of other comprehensive earnings (loss) of equity affiliates	14	(14)	(7)
Other Comprehensive Earnings (Loss)	35	(10)	(49)
Comprehensive earnings (loss)	1,925	914	199
Less comprehensive earnings (loss) attributable to the noncontrolling interests	544	245	165
Comprehensive earnings (loss) attributable to Liberty stockholders	1,381	669	34
Liberty Media Corporation
Other comprehensive earnings (loss), net of taxes:
Comprehensive earnings (loss) attributable to Liberty stockholders		382	34
Liberty Sirius XM Group
Net earnings (loss)	1,659	657	443
Other comprehensive earnings (loss), net of taxes:
Comprehensive earnings (loss) attributable to Liberty stockholders	1,142	295
Braves Group
Net earnings (loss)	(26)	(62)	(20)
Other comprehensive earnings (loss), net of taxes:
Comprehensive earnings (loss) attributable to Liberty stockholders	(28)	(30)
Formula One Group
Net earnings (loss)	257	329	$ (175)
Other comprehensive earnings (loss), net of taxes:
Comprehensive earnings (loss) attributable to Liberty stockholders	$ 267	$ 22

Consolidated Statements Of Cash

Consolidated Statements Of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Cash flows from operating activities:
Net earnings (loss)	$ 1,890	$ 924	$ 248
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization	824	354	362
Stock-based compensation	230	150	204
Share of (earnings) loss of affiliates, net	(104)	(14)	40
Realized and unrealized (gains) losses on financial instruments, net	88	(37)	140
Noncash interest expense	16	11	6
Losses (gains) on dilution of investment in affiliate	(3)		1
Loss on early extinguishment of debt	48	24
Deferred income tax expense (benefit)	(1,064)	427	175
Other, net	4	30	19
Changes in operating assets and liabilities
Current and other assets	50	25	(208)
Payables and other current liabilities	(247)	277	245
Net cash provided (used) by operating activities	1,732	2,171	1,232
Cash flows from investing activities:
Investments in and loans to cost and equity investees	(862)	(784)	(19)
Cash proceeds from sale of investments	21	62	175
Proceeds (payments) from settlement of financial instruments, net		(1)	(322)
Repayment of loans and other cash receipts from cost and equity investees		48
Net cash paid for the acquisition of Formula 1	(1,647)
Capital expended for property and equipment	(517)	(568)	(296)
Purchases of short term investments and other marketable securities		(258)	(174)
Sales of short term investments and other marketable securities		273	358
Other investing activities, net	(132)	(36)	(8)
Net cash provided (used) by investing activities	(3,137)	(1,264)	(286)
Cash flows from financing activities:
Borrowings of debt	6,697	2,745	2,213
Repayments of debt	(5,107)	(1,749)	(1,196)
Proceeds from Issuance of Series C Liberty Formula One Common Stock	1,938
Repurchases of Liberty common stock			(350)
Proceeds from Liberty Braves common stock rights offering		203
Shares repurchased by subsidiary	(1,409)	(1,674)	(2,018)
Cash dividends paid by subsidiary	(60)	(16)
Taxes paid in lieu of shares issued for stock-based compensation	(135)	(58)	(80)
Other financing activities, net	(56)	3	5
Net cash provided (used) by financing activities	1,868	(546)	(1,426)
Effect of Exchange Rate on Cash and Cash Equivalents	4
Net increase (decrease) in cash and cash equivalents	467	361	(480)
Cash and cash equivalents at beginning of period	562	201	681
Cash and cash equivalents at end of period	$ 1,029	$ 562	$ 201

Consolidated Statements Of Equi

Consolidated Statements Of Equity - USD ($) $ in Millions	Liberty Media CorporationCommon StockCommon Class A	Liberty Media CorporationCommon StockCommon Class C	Liberty Sirius XM GroupCommon StockCommon Class A	Liberty Sirius XM GroupCommon StockCommon Class C	Liberty Sirius XM Group	Braves Group	Formula One Group	Common StockCommon Class C	Additional Paid-in Capital	Accumulated Other Comprehensive Income (Loss)	Retained Earnings	Noncontrolling Interest	Total
Balance at Dec. 31, 2014	$ 1	$ 2								$ (21)	$ 11,416	$ 8,778	$ 20,176
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings					$ 443	$ (20)	$ (175)				64	184	248
Other Comprehensive Earnings (Loss)										(30)		(19)	(49)
Stock-based compensation									$ 130			65	195
Minimum withholding taxes on net share settlements of stock-based compensation									(80)				(80)
Shares repurchased by subsidiary									(150)			(1,866)	(2,016)
Shares issued by subsidiary									(47)			47
Liberty stock repurchases									(350)				(350)
Distribution to stockholders for Spin-Off									499		(499)
Other									(2)			9	7
Balance at Dec. 31, 2015	1	2								(51)	10,981	7,198	18,131
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings					657	(62)	329				680	244	924
Other Comprehensive Earnings (Loss)										(11)		1	(10)
Recapitalization of tracking stock groups	$ (1)	$ (2)	$ 1	$ 2				$ 1					1
Stock-based compensation									96			35	131
Minimum withholding taxes on net share settlements of stock-based compensation									(58)				(58)
Issuance of stock upon exercise of stock options									7				7
Shares issued as consideration									203				203
Shares repurchased by subsidiary									(130)			(1,544)	(1,674)
Shares issued by subsidiary									(28)			28
Dividends issued by subsidiary												(16)	(16)
Cumulative Effect on Retained Earnings, Net of Tax											66	(1)	65
Contribution by noncontrolling interest												15	15
Other									(3)				(3)
Balance at Dec. 31, 2016			1	2				1	87	(62)	11,727	5,960	17,716
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings					$ 1,659	$ (26)	$ 257				1,354	536	1,890
Other Comprehensive Earnings (Loss)										27		8	35
Stock-based compensation									129			35	164
Minimum withholding taxes on net share settlements of stock-based compensation									(135)				(135)
Issuance of stock upon exercise of stock options									13				13
Shares issued in private placement transaction									1,938				1,938
Shares issued as consideration								1	1,616				1,617
Initial Recognition of conversion option on Delta Topco Exchangeable Notes									173				173
Shares issued in exchange for Delta Topco Exchangeable Notes									352				352
Shares repurchased by subsidiary									(369)			(1,034)	(1,403)
Shares issued by subsidiary									(7)			186	179
Dividends issued by subsidiary												(60)	(60)
Noncontrolling Interest Activity of Equity Method Investees									31				31
Shares Issued for Subsidiary Incentive Plan									64				64
Balance at Dec. 31, 2017			$ 1	$ 2				$ 2	$ 3,892	$ (35)	$ 13,081	$ 5,631	$ 22,574

Basis of Presentation

Basis of Presentation	12 Months Ended
	Dec. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	(1) Basis of Presentatio The accompanying consolidated financial statements of Liberty Media Corporation (formerly named Liberty Spinco, Inc.; see discussion below pertaining to the Starz Spin-Off (defined below)) (“Liberty,” “we,” “our,” “us” or the “Company” unless the context otherwise requires) represent a consolidation of certain media and entertainment related assets and businesses. All significant intercompany accounts and transactions have been eliminated in the consolidated financial statements. Liberty, through its ownership of interests in subsidiaries and other companies, is primarily engaged in the media and entertainment industries primarily in North America and the United Kingdom. Our significant subsidiaries include Sirius XM Holdings Inc. (“SIRIUS XM”), Formula 1 and Braves Holdings, LLC (“Braves Holdings”). Our significant investment accounted for under the equity method of accounting is Live Nation Entertainment, Inc. (“Live Nation”). As discussed in notes 2 and 7, Liberty obtained a nearly 20% interest in Delta Topco Limited (“Delta Topco”), the parent company of Formula 1, a global motorsports business, during 2016 and acquired the remaining interests, other than a nominal number of shares held by certain Formula 1 teams, during January 2017. In September 2011, Liberty Interactive Corporation (“Liberty Interactive” and formerly named Liberty Media Corporation) completed the split-off of its former wholly-owned subsidiary (then known as Liberty Media Corporation) from its Liberty Interactive tracking stock group (the “Split-Off”). In January 2013, Starz (now known as Starz Acquisition, LLC and formerly known as Liberty Media Corporation) spun-off (the “Starz Spin-Off”) its then-former wholly-owned subsidiary, which, at the time of the Starz Spin-Off, held all of the businesses, assets and liabilities of Starz not associated with Starz, LLC (with the exception of the Starz, LLC office building). The transaction was effected as a pro-rata dividend of shares of Liberty to the stockholders of Starz. Also in January 2013, Liberty obtained a controlling interest and began consolidating SIRIUS XM. SIRIUS XM, since the date of our investment, has repurchased approximately 2.5 billion SIRIUS XM shares for approximately $9.4 billion. Liberty continues to maintain a controlling interest in SIRIUS XM following the completion of the share repurchases. As of December 31, 2017, we owned approximately 70% of the outstanding equity interest in SIRIUS XM. During 2014, Liberty’s board of directors approved the issuance of shares of its Series C Liberty Media Corporation common stock to holders of its Series A and Series B Liberty Media Corporation common stock, effected by means of a dividend. On July 23, 2014, holders of Series A and Series B Liberty Media Corporation common stock received a dividend of two shares of Series C Liberty Media Corporation common stock for each share of Series A or Series B Liberty Media Corporation common stock held by them as of July 7, 2014. Additionally, in connection with the Series C Liberty Media Corporation common stock issuance and the Broadband Spin-Off (defined below), outstanding Series A Liberty Media Corporation common stock warrants have been adjusted, as well as the number of shares covered by outstanding cash convertible note hedges and purchased call options (the “Bond Hedge Transaction”). See note 10 for further discussion regarding the warrants and Bond Hedge Transaction. On November 4, 2014, Liberty completed the spin-off to its stockholders common stock of a newly formed company called Liberty Broadband Corporation (“Liberty Broadband”) (the “Broadband Spin-Off”). In the Broadband Spin-Off, record holders of Series A, Series B and Series C Liberty Media Corporation common stock received one share of the corresponding series of Liberty Broadband common stock for every four shares of common stock held by them as of the record date for the Broadband Spin-Off, with cash paid in lieu of fractional shares. During August 2014, Liberty Interactive completed the distribution of Liberty TripAdvisor Holdings, Inc. (“Liberty TripAdvisor”) (the “TripAdvisor Spin-Off”). During July 2016, Liberty Interactive completed the spin-off of CommerceHub, Inc. (“CommerceHub”) (the “CommerceHub Spin-Off”). During November 2016, Liberty Interactive completed the split-off of Liberty Expedia Holdings, Inc. (“Expedia Holdings”) (the “Expedia Holdings Split-Off”). Following the Split-Off, Starz Spin-Off, TripAdvisor Spin-Off, Broadband Spin-Off, CommerceHub Spin-Off and Expedia Holdings Split-Off, Liberty, Liberty Interactive, Starz, Liberty TripAdvisor, Liberty Broadband, CommerceHub and Expedia Holdings operate as separate publicly traded companies, none of which has any stock ownership, beneficial or otherwise, in the other (except that Liberty Interactive owns shares of Liberty Broadband’s Series C non-voting common stock). In connection with the Split-Off, Starz Spin-Off, TripAdvisor Spin-Off, Broadband Spin-Off, CommerceHub Spin-Off and Expedia Holdings Split-Off, Liberty entered into certain agreements with Liberty Interactive, Starz, Liberty TripAdvisor, Liberty Broadband, CommerceHub and Expedia Holdings, respectively, in order to govern ongoing relationships between the companies and to provide for an orderly transition. As a result, these entities are considered related parties of the Company for accounting purposes through the dates of the respective transactions. These agreements include Reorganization Agreements (excluding CommerceHub, Expedia Holdings and Liberty TripAdvisor), Services Agreements, Facilities Sharing Agreements (excluding CommerceHub), a Lease Agreement (in the case of the Starz Spin-Off only) and with respect to Starz and Liberty Broadband, Tax Sharing Agreements. The Reorganization, Services and Facilities Sharing Agreements entered into with Liberty Interactive were assigned from Starz to Liberty in connection with the Starz Spin-Off. The Reorganization Agreements provide for, among other things, provisions governing the relationships between Liberty and each of Liberty Interactive, Starz and Liberty Broadband following the Split-Off, Starz Spin-Off and Broadband Spin-Off, respectively, including certain cross-indemnities. Pursuant to the Services Agreements, Liberty provides Liberty Interactive, Starz, Liberty TripAdvisor, Liberty Broadband, CommerceHub and Expedia Holdings with general and administrative services including legal, tax, accounting, treasury and investor relations support. Liberty Interactive, Starz, Liberty TripAdvisor, Liberty Broadband, CommerceHub and Expedia Holdings reimburse Liberty for direct, out-of-pocket expenses incurred by Liberty in providing these services and for Liberty Interactive’s and Starz’s allocable portion of costs associated with any shared services or personnel based on an estimated percentage of time spent providing services to each respective company. Liberty TripAdvisor, Liberty Broadband, CommerceHub and Expedia Holdings reimburse Liberty for shared services and personnel based on a flat fee. Under the Facilities Sharing Agreements, Liberty shares office space and related amenities with Liberty Interactive, Starz, Liberty TripAdvisor, Liberty Broadband and Expedia Holdings at Liberty’s corporate headquarters. Under these various agreements, approximately $24 million, $21 million and $23 million of these allocated expenses were reimbursed to Liberty during the years ended December 31, 2017, 2016 and 2015, respectively. Under the Lease Agreement, Starz leases its corporate headquarters from Liberty. The Lease Agreement with Starz for their corporate headquarters requires a payment of approximately $4 million annually, subject to certain increases based on the Consumer Price Index. The Lease Agreement expires on December 31, 2023 and contains an extension option. The Tax Sharing Agreements provide for the allocation and indemnification of tax liabilities and benefits between Liberty and each of Starz and Liberty Broadband as well as other agreements related to tax matters. Among other things, pursuant to the Tax Sharing Agreements, Liberty has generally agreed to indemnify Starz and Liberty Broadband for taxes and losses resulting from the failure of the Starz Spin-Off and the Broadband Spin-Off, respectively, to qualify for tax-free treatment. However, Starz will be responsible for any such taxes and losses related to the Starz Spin-Off which (i) result primarily from the breach of certain restrictive covenants made by Starz, or (ii) result from Section 355(e) of the Internal Revenue Code of 1986 (the “Code”) applying to the Starz Spin-Off as a result of the Starz Spin-Off being part of a plan (or series of related transactions) pursuant to which one or more persons acquire a 50-percent or greater interest (measured by vote or value) in the stock of Starz, and Liberty Broadband will be responsible for any such taxes and losses related to the Broadband Spin-Off which (i) result primarily from the breach of certain restrictive covenants made by Liberty Broadband, or (ii) result from Section 355(e) of the Code applying to the Broadband Spin-Off as a result of the Broadband Spin-Off being part of a plan (or series of related transactions) pursuant to which one or more persons acquire a 50-percent or greater interest (measured by vote or value) in the stock of Liberty Broadband. In February 2014, the IRS and Starz entered into a closing agreement which provided that the Starz Spin-Off qualified for tax-free treatment to Starz and Liberty. In September 2015, Liberty entered into a closing agreement with the IRS which provided that the Broadband Spin-Off qualified for tax-free treatment. The Company’s additional paid-in capital balance was in a deficit position as of December 31, 2015. In order to maintain a zero balance in the additional paid-in capital account, we reclassified the amount of the deficit ($499 million) to retained earnings as of December 31, 2015.

Tracking Stocks

Tracking Stocks	12 Months Ended
	Dec. 31, 2017
Tracking Stocks
Tracking Stocks	(2) Tracking Stocks During November 2015, Liberty’s board of directors authorized management to pursue a recapitalization of the Company’s common stock into three new tracking stock groups, one to be designated as the Liberty Braves common stock, one to be designated as the Liberty Media common stock and one to be designated as the Liberty SiriusXM common stock (the “Recapitalization”), and to cause to be distributed subscription rights related to the Liberty Braves common stock following the creation of the new tracking stocks. The Recapitalization was completed on April 15, 2016 and the newly issued shares commenced trading or quotation in the regular way on the Nasdaq Global Select Market or the OTC Markets, as applicable, on Monday, April 18, 2016. In the Recapitalization, each issued and outstanding share of Liberty Media Corporation common stock was reclassified and exchanged for (a) 1 share of the corresponding series of Liberty SiriusXM common stock, (b) 0.1 of a share of the corresponding series of Liberty Braves common stock and (c) 0.25 of a share of the corresponding series of Liberty Formula One common stock on April 15, 2016. Cash was paid in lieu of the issuance of any fractional shares. In May 2016, the IRS completed its review of the Recapitalization and notified Liberty that it agreed with the nontaxable characterization of the transaction. The operating results prior to the Recapitalization are attributed to Liberty stockholders in the aggregate. However, the information in the following footnotes has been presented by tracking stock groups for all periods presented in order to enhance the information provided to users of these financial statements. Following the creation of the tracking stocks, Series A, Series B and Series C Liberty SiriusXM common stock trade under the symbols LSXMA/B/K, respectively; Series A, Series B and Series C Liberty Braves common stock trade or are quoted under the symbols BATRA/B/K respectively; and Series A, Series B and Series C Liberty Media common stock traded or were quoted under the symbols LMCA/B/K, respectively. Shortly following the Second Closing (as defined below) of the acquisition of Formula 1, the Liberty Media Group and Liberty Media common stock were renamed the Liberty Formula One Group (the “Formula One Group”) and the Liberty Formula One common stock, respectively, and the corresponding ticker symbols for the Series A, Series B and Series C Liberty Media common stock were changed to FWONA/B/K, respectively. Each series (Series A, Series B and Series C) of the Liberty SiriusXM common stock trades on the Nasdaq Global Select Market. Series A and Series C Liberty Braves common stock trade on the Nasdaq Global Select Stock Market and Series B Liberty Braves common stock is quoted on the OTC Markets. Series A and Series C Liberty Formula One common stock continue to trade on the Nasdaq Global Select Market and the Series B Liberty Formula One common stock continues to be quoted on the OTC Markets. Although the Second Closing, and the corresponding tracking stock name and the ticker symbol change, were not completed until January 23 and 24, 2017, respectively, historical information of the Liberty Media Group and Liberty Media common stock is referred to herein as the Formula One Group and Liberty Formula One common stock, respectively. In addition, following the creation of the new tracking stocks, Liberty distributed to holders of its Liberty Braves common stock subscription rights to acquire shares of Series C Liberty Braves common stock in order to raise capital to repay the Intergroup Note (as defined below) and for working capital purposes. In the rights distribution, Liberty distributed 0.47 of a Series C Liberty Braves subscription right for each share of Series A, Series B or Series C Liberty Braves common stock held as of 5:00 p.m., New York City time, on May 16, 2016. Fractional Series C Liberty Braves subscription rights were rounded up to the nearest whole right. Each whole Series C Liberty Braves subscription right entitled the holder to purchase, pursuant to the basic subscription privilege, one share of Liberty’s Series C Liberty Braves common stock at a subscription price of $12.80, which was equal to an approximate 20% discount to the trading day volume weighted average trading price of Series C Liberty Braves common stock for the 18-day trading period ending on May 11, 2016. Each Series C Liberty Braves subscription right also entitled the holder to subscribe for additional shares of Series C Liberty Braves common stock that were unsubscribed for in the rights offering pursuant to an oversubscription privilege. The rights offering commenced on May 18, 2016, which was also the ex-dividend date for the distribution of the Series C Liberty Braves subscription rights. The rights offering expired at 5:00 p.m. New York City time, on June 16, 2016 and was fully subscribed with 15,833,634 shares of Series C Liberty Braves common stock issued to those rightsholders exercising basic and, if applicable, oversubscription privileges. Approximately $150 million of the proceeds from the rights offering were used to repay the outstanding balance on the Intergroup Note and accrued interest to Liberty. The remaining proceeds were used for development costs attributed to the Braves Group. In September 2016, the IRS completed its review of the distribution of the Series C Liberty Braves subscription rights and notified Liberty that it agreed with the nontaxable characterization of the distribution. Additionally, as a result of the Recapitalization, Liberty’s 1.375% Cash Convertible Senior Notes due 2023 are now convertible into cash based on the product of the conversion rate specified in the indenture and the basket of tracking stocks into which each outstanding share of Series A Liberty Media Corporation common stock was reclassified (the “Securities Basket”). The Series A Liberty Braves common stock component of the Securities Basket was subsequently adjusted pursuant to anti-dilution adjustments arising out of the distribution of subscription rights to purchase shares of Series C Liberty Braves common stock made to all holders of Liberty Braves common stock. Furthermore, the Company entered into amended agreements with the counterparties with regard the Recapitalization-related adjustments to the outstanding Series A Liberty Media Corporation common stock warrants as well as the outstanding cash convertible note hedges and purchased call options. See note 10 for a more detailed discussion of the amendments made to these financial instruments as a result of the Recapitalization. As discussed in more detail in note 5, on September 7, 2016 Liberty, through its indirect wholly owned subsidiary Liberty GR Cayman Acquisition Company, entered into two definitive stock purchase agreements relating to the acquisition of Delta Topco. The transactions contemplated by the first purchase agreement were completed on September 7, 2016, resulting in the acquisition of slightly less than a 20% minority stake in Formula 1 on an undiluted basis. On October 27, 2016 under the terms of the first purchase agreement, Liberty acquired an additional incremental equity interest of Delta Topco, maintaining Liberty’s investment in Delta Topco on an undiluted basis and increasing slightly to 19.1% on a fully diluted basis. Liberty’s interest in Delta Topco and by extension Formula 1 is attributed to the Liberty Formula One Group (the “Formula One Group”). Liberty acquired 100% of the fully diluted equity interests of Delta Topco, other than a nominal number of shares held by certain Formula 1 teams, in a closing under the second purchase agreement (following the unwind of the first purchase agreement) on January 23, 2017 (the “Second Closing”). Liberty’s acquired interest in Formula 1, along with existing Formula 1 cash and debt (which is non-recourse to Liberty), is attributed to the Formula One Group. A 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 Liberty SiriusXM Group, Liberty Braves Group (the “Braves Group”) and Formula One 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. Therefore, the Liberty SiriusXM Group, Braves Group and Formula One Group do not represent separate legal entities, but rather represent those businesses, assets and liabilities that have been attributed to each respective group. Holders of tracking stock have no direct claim to the group’s stock or assets and therefore, do not own, by virtue of their ownership of a Liberty tracking stock, any equity or voting interest in a public company, such as SIRIUS XM or Live Nation, in which Liberty holds an interest and that is attributed to a Liberty tracking stock group, such as the Liberty SiriusXM Group or the Formula One Group. Holders of tracking stock are also 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 Liberty SiriusXM common stock is intended to track and reflect the separate economic performance of the businesses, assets and liabilities attributed to the Liberty SiriusXM Group. Liberty attributed to the Liberty SiriusXM Group its subsidiary SIRIUS XM, corporate cash, and its margin loan obligation incurred by a wholly-owned special purpose subsidiary of Liberty. As of December 31, 2017, the Liberty SiriusXM Group has cash and cash equivalents of approximately $615 million, which includes $69 million of subsidiary cash. The Liberty Braves common stock is intended to track and reflect the separate economic performance of the businesses, assets and liabilities attributed to the Braves Group. Liberty attributed to the Braves Group its subsidiary, Braves Holdings, which indirectly owns the Atlanta Braves Major League Baseball Club (“ANLBC” or the “Atlanta Braves”) and certain assets and liabilities associated with ANLBC’s stadium and mixed use development project (the “Development Project”) and corporate cash. Also upon the Recapitalization, Liberty had attributed to the Braves Group all liabilities arising under a note from Braves Holdings to Liberty, with a total capacity of up to $165 million of borrowings by Braves Holdings (the “Intergroup Note”) relating to funds borrowed and used for investment in the Development Project. As previously discussed, the $150 million outstanding under the Intergroup Note was repaid during June 2016 using proceeds from the subscription rights offering, and the Intergroup Note agreement was cancelled. The remaining proceeds were attributed to the Braves Group. As of December 31, 2017, the Braves Group has cash and cash equivalents of approximately $132 million, which includes $55 million of subsidiary cash. The Liberty Formula One common stock is intended to track and reflect the separate economic performance of the businesses, assets and liabilities attributed to the Formula One Group. Liberty attributed to the Formula One Group all of the businesses, assets and liabilities of Liberty other than those specifically attributed to the Braves Group or the Liberty SiriusXM Group, including Liberty’s interests in Formula 1 and Live Nation, a minority equity investment in Time Warner, Inc. (“Time Warner”), the recovery received in connection with the Vivendi lawsuit, cash as well as Liberty’s 1.375% Cash Convertible Notes due 2023 and related financial instruments, Liberty’s 1% Cash Convertible Notes due 2023 and Liberty’s 2.25% Exchangeable Senior Debentures due 2046. As of December 31, 2017, the Formula One Group has cash and cash equivalents of approximately $282 million, which includes $165 million of subsidiary cash. As part of the Recapitalization, the Formula One Group initially held a 20% intergroup interest in the Braves Group. As a result of the rights offering, the number of notional shares representing the intergroup interest held by the Formula One Group was adjusted to 9,084,940, representing a 15.1% intergroup interest in the Braves Group at December 31, 2017. The intergroup interest is a quasi-equity interest which is not represented by outstanding shares of common stock; rather, the Formula One Group has an attributed value in the Braves Group which is generally stated in terms of a number of shares of Series C Liberty Braves common stock issuable to the Formula One Group with respect to its interest in the Braves Group. The intergroup interest may be settled, at the discretion of the Company’s board of directors, through the transfer of newly issued shares of Liberty Braves common stock, cash and/or other assets to the Formula One Group. Accordingly, the intergroup interest attributable to the Formula One Group is presented as an asset and the intergroup interest attributable to the Braves Group is presented as a liability in the attributed financial statements and the offsetting amounts between tracking stock groups are eliminated in consolidation. The intergroup interest will remain outstanding until the cancellation of the outstanding interest, at the discretion of the Company’s board of directors, through transfer of securities, cash and/or other assets from the Braves Group to the Formula One Group. See Exhibit 99.1 to this Annual Report on Form 10‑K for unaudited attributed financial information for Liberty’s tracking stock groups.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2017
Summary of Significant Accounting Policies
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 and sales returns. Such allowance aggregated $12 million and $9 million at December 31, 2017 and 2016, respectively. Activity in the year ended December 31, 2017 included an increase of $57 million of bad debt charged to expense and $55 million of write-offs. Activity in the year ended December 31, 2016 included an increase of $56 million of bad debt charged to expense and $53 million of write-offs. Activity in the year ended December 31, 2015 included an increase of $47 million of bad debt charged to expense and $49 million of write-offs. Investments All marketable equity and debt securities held by the Company are classified as available-for-sale (“AFS”) and are carried at fair value generally based on quoted market prices. U.S. generally accepted accounting principles (“GAAP”) permit entities to choose to measure many financial instruments, such as AFS securities, and certain other items at fair value and to recognize the changes in fair value of such instruments in the entity’s statement of operations (the “fair value option”). Under other relevant GAAP, entities were required to recognize changes in fair value of AFS securities in the balance sheet in accumulated other comprehensive earnings. Liberty previously had entered into economic hedges for certain of its AFS securities (although such instruments are not accounted for as fair value hedges by the Company). Changes in the fair value of these economic hedges were reflected in Liberty’s statement of operations as unrealized gains (losses). In order to better match the changes in fair value of the subject AFS securities and the changes in fair value of the corresponding economic hedges in the Company’s financial statements, Liberty elected the fair value option for certain of its AFS securities (“Fair Value Option Securities”). Accordingly, changes in the fair value of Fair Value Option Securities, as determined by quoted market prices, are reported in realized and unrealized gain (losses) on financial instruments in the accompanying consolidated statements of operations. The total value of AFS equity securities for which the Company has elected the fair value option aggregated $467 million and $489 million as of December 31, 2017 and 2016, respectively. Other investments in which the Company’s ownership interest is less than 20% and are not considered marketable securities are carried at cost. For those investments in affiliates in which the Company has the ability to exercise significant influence, the equity method of accounting is used. Under this method, the investment, originally recorded at cost, is adjusted to recognize the Company’s share of net earnings or losses of the affiliate as they occur rather than as dividends or other distributions are received. Losses are limited to the extent of the Company’s investment in, advances to and commitments for the investee. In the event the Company is unable to obtain accurate financial information from an equity affiliate in a timely manner, the Company records its share of earnings or losses of such affiliate on a lag. Changes in the Company’s proportionate share of the underlying equity of an equity method investee, which result from the issuance of additional equity securities by such equity investee, are recognized in the statement of operations through the other, net line item. To the extent there is a difference between our ownership percentage in the underlying equity of an equity method investee and our carrying value, such difference is accounted for as if the equity method investee were a consolidated subsidiary. The Company continually reviews its equity investments and its AFS securities which are not Fair Value Option Securities to determine whether a decline in fair value below the cost basis is other than temporary. The primary factors the Company considers in its determination are the length of time that the fair value of the investment is below the Company’s carrying value; the severity of the decline; and the financial condition, operating performance and near term prospects of the investee. In addition, the Company considers the reason for the decline in fair value, be it general market conditions, industry specific or investee specific; analysts’ ratings and estimates of 12-month share price targets for the investee; changes in stock price or valuation subsequent to the balance sheet date; and the Company’s intent and ability to hold the investment for a period of time sufficient to allow for a recovery in fair value. If the decline in fair value is deemed to be other than temporary, the cost basis of the security is written down to fair value. In situations where the fair value of an investment is not evident due to a lack of a public market price or other factors, the Company uses its best estimates and assumptions to arrive at the estimated fair value of such investment. The Company’s assessment of the foregoing factors involves a high degree of judgment and accordingly, actual results may differ materially from the Company’s estimates and judgments. Writedowns for AFS securities which are not Fair Value Option Securities (as defined below) are included in the consolidated statements of operations as other than temporary declines in fair values of investments. Writedowns for equity method investments are included in share of earnings (losses) of affiliates. Fair Value of Financial Instruments In January 2016, the Financial Accounting Standards Board (“FASB”) issued new accounting guidance that is intended to improve the recognition and measurement of financial instruments. The new guidance requires equity investments with readily determinable fair values (except those accounted for under the equity method of accounting or those that result in consolidation) to be measured at fair value with changes in fair value recognized in net income and simplifies the impairment assessment of equity investments without readily determinable fair values by requiring a qualitative assessment to identify impairment. The new standard is effective for the Company for fiscal years and interim periods beginning after December 15, 2017. The Company does not expect this new guidance will have a material impact to its consolidated financial statements or related disclosures. Derivative Instruments and Hedging Activities All of the Company’s derivatives, whether designated in hedging relationships or not, are recorded on the balance sheet at fair value. If the derivative is designated as a fair value hedge, the changes in the fair value of the derivative and of the hedged item attributable to the hedged risk are recognized in earnings. If the derivative is designated as a cash flow hedge, the effective portions of changes in the fair value of the derivative are recorded in other comprehensive earnings and are recognized in the statement of operations when the hedged item affects earnings. Ineffective portions of changes in the fair value of cash flow hedges are recognized in earnings. If the derivative is not designated as a hedge, changes in the fair value of the derivative are recognized in earnings. None of the Company’s derivatives are currently designated as hedges. The fair value of certain of the Company’s derivative instruments are estimated using the Black-Scholes model. The Black-Scholes model incorporates a number of variables in determining such fair values, including expected volatility of the underlying security and an appropriate discount rate. The Company obtained volatility rates from pricing services based on the expected volatility of the underlying security over the remaining term of the derivative instrument. A discount rate was obtained at the inception of the derivative instrument and updated each reporting period, based on the Company’s estimate of the discount rate at which it could currently settle the derivative instrument. The Company considered its own credit risk as well as the credit risk of its counterparties in estimating the discount rate. Considerable management judgment was required in estimating the Black-Scholes variables. Property and Equipment Property and equipment consisted of the following: Estimated Useful Life December 31, 2017 December 31, 2016 amounts in millions Land NA $ 217 191 Buildings and improvements 10 - 40 years 974 144 Support equipment 3 - 20 years 514 316 Satellite system 15 years 1,676 1,668 Construction in progress NA 215 863 Total property and equipment $ 3,596 3,182 Property and equipment, including significant improvements, is stated at cost. Depreciation is computed using the straight-line method using estimated useful lives. Depreciation expense for the years ended December 31, 2017, 2016 and 2015 was $230 million, $186 million and $207 million, respectively. A portion of the interest on funds borrowed to finance the construction of the Braves ballpark and mixed-use development as well as the launch of SIRIUS XM’s satellites and launch vehicles is capitalized. Capitalized interest is recorded as part of the asset’s cost and depreciated over the asset’s useful life. Capitalized interest costs for the years ended December 31, 2017 and 2016 was approximately $10 million and $8 million, respectively, which related to the construction of the Braves ballpark and mixed-use development during the years ended December 31, 2017 and 2016 and the construction of SIRIUS XM’s satellites during the year ended December 31, 2017. Intangible Assets Intangible assets with estimable useful lives are amortized over their respective estimated useful lives to their estimated residual values, and reviewed for impairment upon certain triggering events. Goodwill and other intangible assets with indefinite useful lives (collectively, “indefinite lived intangible assets”) are not amortized, but instead are tested for impairment at least annually. Our annual impairment assessment of our indefinite-lived intangible assets is performed during the fourth quarter of each year. In January 2017, the FASB issued new accounting guidance to simplify the measurement of goodwill impairment. Under the new guidance, an entity no longer performs a hypothetical purchase price allocation to measure goodwill impairment. Instead, a goodwill impairment is measured using the difference between the carrying value and the fair value of the reporting unit. The Company early adopted this guidance during the fourth quarter of 2017. The accounting guidance permits entities to first assess qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount as a basis for determining whether it is necessary to perform the quantitative goodwill impairment test. The accounting guidance also allows entities the option to bypass the qualitative assessment for any reporting unit in any period and proceed directly to the quantitative impairment test. The entity may resume performing the qualitative assessment in any subsequent period. In evaluating goodwill on a qualitative basis, the Company reviews the business performance of each reporting unit and evaluates other relevant factors as identified in the relevant accounting guidance to determine whether it is more likely than not that an indicated impairment exists for any of our reporting units. The Company considers whether there are any negative macroeconomic conditions, industry specific conditions, market changes, increased competition, increased costs in doing business, management challenges, the legal environments and how these factors might impact company specific performance in future periods. As part of the analysis, the Company also considers fair value determinations for certain reporting units that have been made at various points throughout the current and prior years for other purposes. If based on the qualitative analysis it is more likely than not that an impairment exists, the Company performs the quantitative impairment test. The quantitative goodwill impairment test compares the estimated fair value of a reporting unit to its carrying value. Developing estimates of fair value requires significant judgments, including making assumptions about appropriate discount rates, perpetual growth rates, relevant comparable market multiples, public trading prices and the amount and timing of expected future cash flows. The cash flows employed in Liberty’s valuation analysis are based on management’s best estimates considering current marketplace factors and risks as well as assumptions of growth rates in future years. There is no assurance that actual results in the future will approximate these forecasts. The accounting guidance also permits entities to first perform a qualitative assessment to determine whether it is more likely than not that an indefinite-lived intangible asset is impaired. The accounting guidance also allows entities the option to bypass the qualitative assessment for any indefinite-lived intangible asset in any period and proceed directly to the quantitative impairment test. The entity may resume performing the qualitative assessment in any subsequent period. If the qualitative assessment supports that it is more likely than not that the carrying value of the Company’s indefinite-lived intangible assets, other than goodwill, exceeds its fair value, then a quantitative assessment is performed. If the carrying value of an indefinite-lived intangible asset exceeds its fair value, an impairment loss is recognized in an amount equal to that excess. Impairment of Long-lived Assets The Company periodically reviews the carrying amounts of its property and equipment and its intangible assets (other than goodwill and indefinite-lived intangibles) to determine whether current events or circumstances indicate that such carrying amounts may not be recoverable. If the carrying amount of the asset group is greater than the expected undiscounted cash flows to be generated by such asset group, an impairment adjustment is to be recognized. Such adjustment is measured by the amount that the carrying value of such asset groups exceeds their fair value. The Company generally measures fair value by considering sale prices for similar assets or by discounting estimated future cash flows using an appropriate discount rate. Considerable management judgment is necessary to estimate the fair value of asset groups. Accordingly, actual results could vary significantly from such estimates. Asset groups to be disposed of are carried at the lower of their financial statement carrying amount or fair value less costs to sell. Noncontrolling Interests The Company reports noncontrolling interests of subsidiaries within equity in the balance sheet and the amount of consolidated net income attributable to the parent and to the noncontrolling interest is presented in the statement of operations. Also, changes in ownership interests in subsidiaries in which the Company maintains a controlling interest are recorded in equity. Revenue Recognition Revenue is recognized as follows: · Revenue from SIRIUS XM subscribers is recognized as it is realized or realizable and earned. Subscription fees are recognized as SIRIUS XM’s services are provided. Consumers purchasing or leasing a vehicle with a factory-installed satellite radio typically receive between a three and twelve month subscription to SIRIUS XM’s service, certain of which are prepaid. Prepaid subscription fees received from certain automakers are recorded as deferred revenue and amortized to revenue ratably over the service period which commences upon retail sale and activation. No revenue is recognized for unpaid trial subscriptions. · SIRIUS XM recognizes revenue from the sale of advertising as the advertising is transmitted. Agency fees are calculated based on a stated percentage applied to gross billing revenue for advertising inventory and are reported as a reduction of advertising revenue. SIRIUS XM pays certain third parties a percentage of advertising revenue. Advertising revenue is recorded gross of revenue share payments made to certain third parties, which are recorded to Revenue share and royalties during the period in which the advertising is transmitted. · Equipment revenue and royalties from the sale of satellite radios, components and accessories are recognized upon shipment, net of discounts and rebates. Shipping and handling costs billed to customers are recorded as revenue. Shipping and handling costs associated with shipping goods to customers are reported as a component of Cost of subscriber services. · Certain revenue arrangements contain multiple products, services and right to use assets, such as SIRIUS XM’s bundled subscription plans. The applicable accounting guidance requires that such multiple deliverable revenue arrangements be divided into separate units of accounting if the deliverables in the arrangement meet certain criteria. Consideration is allocated at the inception of the arrangement to all deliverables based on their relative selling price, which is determined using vendor specific objective evidence of the selling price of self-pay customers. · SIRIUS XM also earns revenue from U.S. Music Royalty Fees, which are recorded as revenue and as a component of Revenue share and royalties expense. Fees received from subscribers for the U.S. Music Royalty Fee are recorded as deferred revenue and amortized to revenue ratably over the service period. · SIRIUS XM revenue is reported net of any taxes assessed by a governmental authority that is both imposed on, and concurrent with, a specific revenue-producing transaction between a seller and a customer in the consolidated statements of operations. · Formula 1 derives the majority of its revenue from race promotion, broadcasting and advertising and sponsorship arrangements. Revenue derived from broadcasting and advertising arrangements is recognized on an event by event basis, based on the fixed fee within the underlying contractual arrangement. Revenue from granting rights to host, stage and promote events is recognized upon the occurrence of the event. The revenue for event-based advertising is also recognized on occurrence of the events to which the underlying contract relates. · Formula 1 also earns revenue from teams and other parties for administering the shipment of cars and equipment to and from the events outside Europe, revenue from the sale of tickets to the Formula One Paddock Club event-based hospitality, various TV production and post-production activities, and revenue from other licensing of the Formula One brand. To the extent such revenue relates to services provided or rights associated with a specific event, the revenue is recognized upon occurrence of the related event. · Revenue for Braves Holdings ticket sales, broadcasting rights, signage and suites are recognized on a per game basis during the baseball season based on a pro rata share of total revenue earned during the entire baseball season to the total number of home games during the season. Prior to 2016, concession revenue was recognized as commissions were earned from the sale of food and beverage at the stadium in accordance with agreements with Braves Holdings’ concessions vendors. Beginning in 2016, Braves Holdings brought its retail operations in-house and engaged a new concessions operator. As a result, concession revenue is recognized on a per game basis during the baseball season. Major League Baseball (“MLB”) revenue is earned throughout the year based on an estimate of revenue generated by MLB on behalf of the 30 MLB clubs. Sources of MLB revenue include distributions from the MLB Central Fund, distributions from MLB Properties and revenue sharing income, if applicable. In May 2014, the FASB issued new accounting guidance on revenue from contracts with customers. The new guidance requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. This new guidance also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized from costs incurred to obtain or fulfill a contract. In March 2016, the FASB issued additional guidance which clarifies principal versus agent considerations, and in April 2016, the FASB issued further guidance which clarifies the identification of performance obligations and the implementation guidance for licensing. The updated guidance will replace most existing revenue recognition guidance in GAAP when it becomes effective and permits the use of either a full retrospective or modified retrospective transition method. We will adopt this guidance under the modified retrospective transition method effective as of January 1, 2018. SIRIUS XM has completed its evaluation of the impact of the new guidance on its revenue streams and expects the most significant impact to the classification of Revenue share and certain subsidy payments made to automakers associated with a paid promotional subscription and the impact of the timing of recognition of activation revenue. Under the new standard, the payments associated with a paid promotional subscription will be treated as a reduction to the transaction price rather than as an expense. SIRIUS XM expects this change to reduce subscriber revenue by $90 million, along with a corresponding reduction to revenue share and royalties and subscriber acquisition costs. SIRIUS XM does not expect this change to have a significant impact to its net earnings. Additionally, within the consolidated balance sheets, upon adoption, the amount of revenue share and certain subsidy payments made to automakers associated with a paid promotional subscription will be classified as a liability separate from deferred revenue. SIRIUS XM expects the adjustment will have an immaterial impact to retained earnings upon adoption. Formula 1 and Braves Holdings have made significant progress toward completing their evaluation of the potential impact from adopting the new guidance on their primary revenue streams. Formula 1 is not expecting a material impact to revenue recognition for its primary revenue streams upon adoption of the new guidance. Braves Holdings expects a change in the timing of recognition of revenue under its long term contracts upon adoption of the new guidance, which we expect to result in an immaterial cumulative effect adjustment to retained earnings. The remaining primary revenue streams for Braves Holdings are not expected to be materially impacted upon adoption of the new guidance. Formula 1 and Braves Holdings continue to finalize the impact of the adoption of this new guidance on their financial statements, policies, controls and procedures. Cost of Subscriber Services Revenue Share SIRIUS XM shares a portion of its subscription revenue earned from self-pay subscribers and paid promotional subscribers with certain automakers. The terms of the revenue share agreements vary with each automaker, but are typically based upon the earned audio revenue as reported or gross billed audio revenue. Such shared revenue is recorded as an expense and not as a reduction to revenue. Programming Costs Programming costs which are for a specified number of events are amortized on an event-by-event basis; programming costs which are for a specified season or include programming through a dedicated channel are amortized over the season or period on a straight-line basis. SIRIUS XM allocates a portion of certain programming costs which are related to sponsorship and marketing activities to selling, general and administrative expense on a straight-line basis over the term of the agreement. Cost of Formula 1 Revenue Cost of Formula 1 revenue consists of team payments and hospitality costs, which are principally related to catering and other aspects of the production and delivery of the Paddock Club, and circuit rights’ fees payable under various agreements with race promoters to acquire certain commercial rights at Events, including the right to sell advertising, hospitality and support race opportunities. Other costs include annual Federation Internationale de l’Automobile regulatory fees, advertising and sponsorship commissions and those incurred in the provision and sale of freight, travel and logistical services, F2 and GP3 cars, parts and maintenance services, television production and post-production services, advertising production services and digital and social media activities. These costs are largely variable in nature and relate directly to revenue opportunities. Subscriber Acquisition Costs Subscriber acquisition costs consist of costs incurred to acquire new subscribers and include hardware subsidies paid to radio manufacturers, distributors and automakers, including subsidies paid to automakers who include a satellite radio and a prepaid subscription to SIRIUS XM service in the sale or lease price of a new vehicle; subsidies paid for chipsets and certain other components used in manufacturing radios; device royalties for certain radios and chipsets; commissions paid to retailers and automakers as incentives to purchase, install and activate radios; product warranty obligations; freight; and provisions for inventory allowance attributable to inventory consumed in SIRIUS XM’s automaker and retail distribution channels. Subscriber acquisition costs do not include advertising costs, loyalty payments to distributors and dealers of radios and revenue share payments to automakers and retailers of radios. Subsidies paid to radio manufacturers and automakers are expensed upon installation, shipment, receipt of product or activation and are included in Subscriber acquisition costs because SIRIUS XM is responsible for providing the service to the customers. Commissions paid to retailers and automakers are expensed upon either the sale or activation of radios. Chipsets that are shipped to radio manufacturers and held on consignment are recorded as inventory and expensed as subscriber acquisition costs when placed into production by radio manufacturers. Costs for chipsets not held on consignment are expensed as subscriber acquisition costs when the automaker confirms receipt. Advertising Costs Advertising expense aggregated $311 million, $230 million and $210 million for the years ended December 31, 2017, 2016 and 2015, respectively. Advertising costs are primarily attributable to costs incurred by SIRIUS XM. SIRIUS XM’s media-related advertising costs are expensed when advertisements air, and advertising production costs are expensed as incurred. These costs are reflected in selling, general and administrative expenses in the consolidated statements of operations. Stock-Based Compensation As more fully described in note 14, Liberty has granted to its directors, employees and employees of its subsidiaries options and restricted stock to purchase shares of Liberty common stock (collectively, “Awards”). The Company measures the cost of employee services received in exchange for an Award based on the grant-date fair value of the Award, and recognizes that cost over the period during which the employee is required to provide service (usually the vesting period of the Award). Included in the accompanying consolidated statements of operations are the following amounts of stock-based compensation: Years ended December 31, 2017 2016 2015 amounts in millions Cost of subscriber services: Programming and content $ 27 21 19 Customer service and billing 4 4 5 Other 5 5 8 Other operating expense 16 13 18 Selling, general and administrative 178 107 154 $ 230 150 204 In March 2016, the FASB issued new accounting guidance on share-based payment accounting. The areas for simplification in this update involve several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, forfeiture calculations, and classification on the statement of cash flows. We early adopted this new guidance in the third quarter of 2016. The Company applied the new guidance prospectively from January 1, 2016. In accordance with the new guidance, excess tax benefits and tax deficiencies are recognized as income tax benefit or expense rather than as additional paid-in capital. The Company has elected to recognize forfeitures as they occur rather than continue to estimate expected forfeitures. In addition, pursuant to the new guidance, excess tax benefits are classified as an operating activity on the consolidated statements of cash flows. The recognition of excess tax benefits and deficiencies are applied prospectively. For tax benefits that were not previously recognized and for adjustments to compensation cost based on actual forfeitures, the Company recorded a cumulative-effect adjustment in retained earnings as of January 1, 2016 in the amount of $66 million. Income Taxes The Company accounts for income taxes using the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying value amounts and income tax bases of assets and liabilities and the expected benefits of utilizing net operating loss and tax credit carryforwards. The deferred tax assets and liabilities are calculated using enacted tax rates in effect for each taxing jurisdiction in which the Company operates for the year in which those temporary differences are expected to be recovered or settled. Net deferred tax assets are then reduced by a valuation allowance if the Company believes it more likely than not such net deferred tax assets will not be realized. The effect on deferred tax assets and liabilities of an enacted change in tax rates is recognized in income in the period that includes the enactment date. When the tax law requires interest to be paid on an underpayment of income taxes, the Company recognizes interest expense from the first period the interest would begin accruing according to the relevant tax law. Such interest expense is included in interest expense in the accompanying consolidated statements of operations. Any accrual of penalties related to underpayment of income taxes on uncertain tax positions is included in other income (expense) in the accompanying consolidated statements of operations. Earnings Attributable to Liberty Stockholders Per Common Share Basic earnings (loss) per common share (“EPS”) is computed by dividing net earnings (loss) by the weighted average number of common shares that were outstanding for the period at the Company. Diluted EPS presents the dilutive effect on a per share basis of potential common shares as if they had been converted at the beginning of the periods presented. As discussed in note 2, on April 15, 2016, the Company completed a recapitalization of its common stock into three new tracking stock groups, one designated as the Liberty SiriusXM common stock, one designated as the Liberty Braves common stock and one designated as the Liberty Media common stock. As further discussed in note 2, the Liberty Media common stock was renamed Liberty Formula One common stock on January 24, 2017 shortly after the Second Closing. The operating results prior to the Recapitalization are attributed to Liberty Media Corporation stockholders in the aggregate, and the operating results subsequent to the Recapitalization are attributed to the respective tracking stock groups. Excluded from diluted EPS for the period subsequent to the Recapitalization through December 31, 2016 are approximately 21 million potentially dilutive shares of Series A Liberty SiriusXM common stock, 2 million potentially dilutive shares of Series A Liberty Braves common stock and 5 million potentially dilutive shares of Series A Liberty Formula One common stock, primarily due to warrants issued in connection with the Bond Hedge Transaction (note 10), because their inclusion would be antidilutive. The Amended Warrant Transactions (as defined and discussed in note 10) may have a dilutive effect with respect to the shares comprising the Securities Basket underlying the warrants to the extent that the settlement price exceeds the strike price of the warrants, and the warrants

Supplemental Disclosures to Con

Supplemental Disclosures to Consolidated Statements of Cash Flows	12 Months Ended
	Dec. 31, 2017
Supplemental Disclosures to Consolidated Statements of Cash Flows
Supplemental Disclosures to Consolidated Statements of Cash Flows	(4) Supplemental Disclosures to Consolidated Statements of Cash Flows Years ended December 31, 2017 2016 2015 amounts in millions Cash paid for acquisitions: Fair value of assets acquired $ (484) — — Intangibles not subject to amortization 4,039 — — Intangibles subject to amortization 5,499 — — Net liabilities assumed (5,035) — — Deferred tax liabilities (475) — — Fair value of equity consideration (1,790) — — Cash paid for acquisitions, net of cash acquired $ 1,754 — — Stock repurchased by subsidiary not yet settled $ 17 23 24 Cash paid for interest, net of amounts capitalized $ 561 327 295 Cash paid for income taxes $ 56 69 3

Acquisitions

Acquisitions	12 Months Ended
	Dec. 31, 2017
Acquisitions
Acquisitions	(5) Acquisitions Formula 1 On September 7, 2016, Liberty, through its indirect wholly owned subsidiary Liberty GR Cayman Acquisition Company, entered into two definitive stock purchase agreements relating to the acquisition of Delta Topco, the parent company of Formula 1, a global motorsports business, from a consortium of sellers led by CVC Capital Partners (“CVC”). The transactions contemplated by the first purchase agreement were completed on September 7, 2016 and provided for Liberty’s acquisition of slightly less than a 20% minority stake in Formula 1 on an undiluted basis for $746 million, funded entirely in cash (which is equal to $821 million in consideration less a $75 million holdback that was repaid by Liberty to selling stockholders upon completion of the Second Closing). On October 27, 2016, under the terms of the first purchase agreement, Liberty acquired an additional incremental equity interest of Delta Topco, maintaining Liberty’s investment in Delta Topco on an undiluted basis and increasing slightly to 19.1% on a fully diluted basis. On January 23, 2017, Liberty acquired 100% of the fully diluted equity interests of Delta Topco, other than a nominal number of shares held by certain Formula 1 teams, in a second closing under the second purchase agreement (and following the unwind of the first purchase agreement). Prior to the Second Closing, CVC continued to be the controlling shareholder of Formula 1, and Liberty did not have any voting interests or board representation in Formula 1. As a result, Liberty concluded that it did not have significant influence over Formula 1, and therefore our initial investment in Formula 1 was accounted for as a cost investment until the completion of the Second Closing, at which time we began consolidating Formula 1. The transaction price for the acquisition represents an enterprise value for Formula 1 of approximately $8.0 billion and an equity value of approximately $4.4 billion, calculated at the time of the first closing. The total consideration at the time of closing was $4.7 billion, comprised of $3.05 billion of cash (including the investments made under the first purchase agreement during 2016) and approximately $1.6 billion of non-cash consideration represented by approximately 56 million newly issued shares of Series C Liberty Formula One common stock. In connection with the transaction, Liberty entered into a $500 million margin loan on November 8, 2016, secured by shares of Live Nation and other public equity securities held by Liberty (the ‘‘Live Nation Margin Loan’’). No amounts were drawn on the Live Nation Margin Loan at December 31, 2016. Liberty drew approximately $350 million to use for the purchase of Formula 1, on January 23, 2017. See note 10 for additional discussion regarding the Live Nation Margin Loan. At the Second Closing, the Company issued 62 million new shares of Series C Liberty Formula One common stock, which were subject to market co-ordination and lock-up agreements, to certain third party investors at a price per share of $25.00. As a result, the stock component of the consideration payable to the selling shareholders in the Formula 1 acquisition was decreased by 62 million shares, and the cash component of the consideration payable to the selling shareholders in the Formula 1 acquisition was increased by $1.55 billion. Also concurrently with the Second Closing, the Company used a portion of the net proceeds of its $450 million cash offering of 1% Cash convertible Notes due 2023, as discussed in note 10, to increase the cash consideration payable to the selling shareholders by approximately $400 million. The additional 19 million shares of Series C Liberty Formula One common stock that would otherwise have been issued to the selling shareholders based on the per share purchase price of $21.26 were held in reserve by the Company for possible sale to the Formula 1 teams, until such opportunity expired in July of 2017. In connection with the Second Closing, Delta Topco issued $351 million subordinated exchangeable notes, upon the conversion of certain outstanding Delta Topco loan notes, that bear interest at 2% per annum and mature in July 2019, exchangeable into cash or newly issued shares of Series C Liberty Formula One common stock (“Exchangeable Notes”). See note 10 for additional discussion of this debt instrument. The final acquisition price allocation for Formula 1 is as follows: Ownership interest held prior to the Second Closing $ 759 Controlling interest acquired 3,939 Total acquisition price $ 4,698 Cash and cash equivalents $ 644 Receivables 136 Goodwill 3,956 Intangible assets subject to amortization 5,484 Other assets 153 Deferred revenue (141) Debt (4,528) Other liabilities assumed (516) Deferred tax liabilities (490) $ 4,698 Goodwill is calculated as the excess of the consideration transferred over the identifiable net assets acquired and represents the future economic benefits expected to arise from other intangible assets acquired that do not qualify for separate recognition, including assembled workforce, value associated with future customers, continued innovation and noncontractual relationships. Formula 1 amortizable intangible assets were comprised of an agreement with the Fédération Internationale de l’Automobile (the “FIA,” and the agreement, the “FIA Agreement”) ($3.6 billion with a remaining useful life of approximately 35 years) and customer relationships of $1.9 billion with a weighted average remaining life of approximately 11.5 years. The FIA owns the World Championship and has granted Formula 1 the exclusive commercial rights to the World Championship until the end of 2110. During the fourth quarter of 2017, the preliminary purchase price allocation was adjusted, resulting in increases of $22 million to other assets and $11 million to other liabilities assumed and decreases of $12 million to goodwill and $1 million to deferred tax liabilities. None of the acquired goodwill is expected to be deductible for tax purposes. As of December 31, 2017, the valuation related to the acquisition of a controlling interest in Formula 1 and the acquisition price allocation are final. Included in net earnings (loss) for the year ended December 31, 2017 is $261 million related to Formula 1’s operations since the date of acquisition. The unaudited pro forma revenue and net earnings of Liberty, prepared utilizing the historical financial statements of Formula 1, giving effect to acquisition accounting related adjustments made at the time of acquisition, as if the acquisition of Formula 1 discussed above occurred on January 1, 2016, are as follows: Years ended December 31, 2017 2016 amounts in millions Revenue $ 7,595 7,072 Net earnings (loss) $ 1,874 743 Net earnings (loss) attributable to Liberty stockholders $ 1,338 499 The pro forma results include adjustments primarily related to the amortization of acquired intangible assets. The pro forma information is not representative of the Company’s future results of operations nor does it reflect what the Company’s results of operations would have been if the acquisition of Formula 1 had occurred previously and the Company consolidated Formula 1 during the periods presented.

Assets And Liabilities Measured

Assets And Liabilities Measured At Fair Value	12 Months Ended
	Dec. 31, 2017
Assets and Liabilities Measured at Fair Value
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 does not have any recurring assets or liabilities measured at fair value that would be considered Level 3. Liberty’s assets and liabilities measured at fair value are as follows: December 31, 2017 December 31, 2016 Quoted prices Significant other Quoted prices Significant other in active markets observable in active markets observable for identical assets inputs for identical assets inputs Description Total (Level 1) (Level 2) Total (Level 1) (Level 2) amounts in millions Cash equivalents $ 804 804 — 289 289 — Available-for-sale securities $ 1,047 467 580 489 489 — Financial instrument assets $ 369 19 350 286 16 270 Debt $ 2,115 — 2,115 1,546 — 1,546 The majority of Liberty’s Level 2 financial instruments are debt related instruments and derivative instruments. In addition, SIRIUS XM’s investment in Pandora Media, Inc. (“Pandora”) is classified as Level 2. See note 7 for information related to the investment in Pandora. The Company notes that these assets are not always traded publicly or not considered to be traded on “active markets,” as defined in GAAP. The fair values for such instruments are derived from a typical model using observable market data as the significant inputs or a trading price of a similar asset or liability is utilized. The fair value of debt related instruments are based on quoted market prices but not considered to be traded on “active markets,” as defined by GAAP. Accordingly, those available-for-sale securities, financial instruments and debt or debt related instruments are reported in the foregoing table as Level 2 fair value. The financial instrument assets included in the table above are included in the Other assets line item in the consolidated balance sheets. 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 (amounts in millions): Years ended December 31, 2017 2016 2015 Fair Value Option Securities (a) $ (36) 112 (151) Debt measured at fair value (b) (126) (113) (5) Change in fair value of bond hedges (c) 72 37 23 Other derivatives 2 1 (7) $ (88) 37 (140) (a) Changes in unrealized gains (losses) on fair value option securities include SIRIUS XM’s investment in Pandora’s Series A Convertible Preferred Stock. See note 7 for information related to the investment in Pandora. (b) Changes in unrealized gains (losses) on debt measured at fair value are due to market factors primarily driven by changes in the fair value of the underlying shares into which the debt is exchangeable. (c) Contemporaneously with the issuance of the 1.375% Cash Convertible Notes due 2023, Liberty entered into privately negotiated cash convertible note hedges, which are expected to offset potential cash payments Liberty would be required to make in excess of the principal amount of the convertible notes, upon conversion of the notes. The bond hedges are marked to market based on the trading price of underlying Series A Liberty SiriusXM, Liberty Braves and Liberty Formula One securities and other observable market data as the significant inputs (Level 2). See note 10 for additional discussion of the convertible notes and the bond hedges.

Investments In Available-For-Sa

Investments In Available-For-Sale Securities And Other Cost Investments	12 Months Ended
	Dec. 31, 2017
Investments in Available-for-Sale Securities and Other Cost Investment
Investments in Available-for-Sale Securities and Other Cost Investments	(7) Investments in Available-for-Sale Securities and Other Cost Investments All marketable equity and debt securities held by the Company are classified as available-for-sale (“AFS”) and are carried at fair value generally based on quoted market prices. GAAP permits entities to choose to measure many financial instruments, such as AFS securities, and certain other items at fair value and to recognize the changes in fair value of such instruments in the entity’s statement of operations. The Company previously had entered into economic hedges for certain of its AFS securities (although such instruments were not accounted for as fair value hedges by the Company). Changes in the fair value of those economic hedges were reflected in the Company’s statement of operations as unrealized gains (losses). In order to better match the changes in fair value of the subject AFS securities and the changes in fair value of the corresponding economic hedges in the Company’s financial statements, the Company elected the fair value option for certain of its AFS securities (“Fair Value Option Securities”). Accordingly, changes in the fair value of Fair Value Option Securities, as determined by quoted market prices, are reported in realized and unrealized gains (losses) on financial instruments in the accompanying consolidated statements of operations. Investments in AFS securities, including Fair Value Option Securities separately aggregated, and other cost investments are summarized as follows: December 31, 2017 December 31, 2016 amounts in millions Liberty SiriusXM Group Fair Value Option Securities Pandora (a) $ 480 — Other 100 — Total attributed Liberty SiriusXM Group 580 — Braves Group Other AFS and cost investments 8 8 Total attributed Braves Group 8 8 Formula One Group Fair Value Option Securities Time Warner (b) 389 411 Other equity securities 78 78 Total Fair Value Option Securities 467 489 AFS and cost investments Formula 1 (c) — 759 Other AFS and cost investments 59 53 Total AFS and cost investments 59 812 Total attributed Formula One Group 526 1,301 Consolidated Liberty $ 1,114 1,309 (a) See below for details regarding SIRIUS XM’s investment in Pandora. (b) See note 10 for details regarding the number and fair value of shares pledged as collateral pursuant to the Braves Holdings mixed-use development facility as of December 31, 2017. (c) See note 5 for details regarding the Company’s acquisition of Formula 1. Pandora On September 22, 2017, a subsidiary of SIRIUS XM completed a $480 million investment in newly issued Series A convertible preferred stock of Pandora (the “Series A Preferred Stock”). Pandora operates an internet-based music discovery platform, offering a personalized experience for listeners. The Series A preferred stock, including accrued but unpaid dividends, represents an approximate 19% interest in Pandora’s currently outstanding common stock and an approximate 16% interest on an as-converted basis. The Series A Preferred Stock is convertible at the option of the holders at any time into shares of common stock of Pandora (“Pandora Common Stock”) at an initial conversion price of $10.50 per share of Pandora Common Stock and an initial conversion rate of 95.2381 shares of Pandora Common Stock per share of Series A Preferred Stock, subject to certain customary anti-dilution adjustments. Holders of the Series A Preferred Stock are entitled to a cumulative dividend at the rate of 6.0% per annum, payable quarterly in arrears, if and when declared. Any conversion of Series A Preferred Stock may be settled by Pandora, at its option, in shares of Pandora Common Stock, cash or any combination thereof. However, unless and until Pandora’s stockholders have approved the issuance of greater than 19.99% of the outstanding Pandora Common Stock, the Series A Preferred Stock may not be converted into more than 19.99% of Pandora’s outstanding Pandora Common Stock as of June 9, 2017. The investment includes a mandatory redemption feature on any date from and after September 22, 2022 and therefore the financial instrument has been treated as a debt security. As the investment includes a conversion option, SIRIUS XM has elected to account for this investment under the fair value option. Any gains (losses) associated with the change in fair value will be recognized in realized and unrealized gains (losses) on financial instruments, net in the consolidated statements of operations. A $17 million unrealized loss was recognized during the year ended December 31, 2017 on the investment in Pandora, including transaction costs. Pursuant to an Investment Agreement with Pandora, SIRIUS XM has appointed three of its senior executives or members of its Board of Directors to Pandora’s Board of Directors, one of whom serves as the Chairman of Pandora’s Board of Directors. SIRIUS XM’s right to designate directors will fall away once SIRIUS XM and its affiliates fail to beneficially own shares of Series A Preferred Stock and/or Pandora Common Stock issued upon conversion thereof equal to (on an as-converted basis) at least 50% of the number of shares of Pandora Common Stock issuable upon conversion of the Series A Preferred Stock purchased under the Investment Agreement. Following the earlier to occur of (i) September 22, 2019 and (ii) the date on which SIRIUS XM and its affiliates fail to beneficially own shares of Series A Preferred Stock and/or Pandora Common Stock that were issued upon conversion of Series A Preferred Stock equal to (on an as-converted basis) at least 75% of the number of shares of Pandora Common Stock issuable upon conversion of the Series A Preferred Stock purchased under the Investment Agreement, SIRIUS XM has the right to designate only two directors. Unrealized Holding Gains and Losses recorded in Accumulated other comprehensive earnings (loss) There were no unrealized holding gains or losses related to investments in AFS securities at December 31, 2017 or 2016.

Investments In Affiliates Accou

Investments In Affiliates Accounted For Using The Equity Method	12 Months Ended
	Dec. 31, 2017
Investments in Affiliates Accounted for Using the Equity Method
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 the Company’s carrying amount and percentage ownership and market value (Level 1) of the more significant investments in affiliates at December 31, 2017, and the carrying amount at December 31, 2016: December 31, 2017 December 31, 2016 Percentage Fair Value Carrying Carrying ownership (Level 1) amount amount dollar amounts in millions Liberty SiriusXM Group SIRIUS XM Canada $ NA $ 672 164 Total Liberty SiriusXM Group 672 164 Braves Group Other NA NA 145 61 Total Braves Group 145 61 Formula One Group Live Nation (a) $ 2,965 756 731 Other various NA 177 161 Total Formula One Group 933 892 Consolidated Liberty $ 1,750 1,117 (a) See note 10 for details regarding the number and value of shares pledged as collateral pursuant to the Live Nation Margin Loan as of December 31, 2017. The following table presents the Company’s share of earnings (losses) of affiliates: Years ended December 31, 2017 2016 2015 amounts in millions Liberty SiriusXM Group SIRIUS XM Canada $ 29 13 (1) Total Liberty SiriusXM Group 29 13 (1) Braves Group Other (a) 78 9 9 Total Braves Group 78 9 9 Formula One Group Live Nation (18) (12) (27) Other 15 4 (21) Total Formula One Group (3) (8) (48) Consolidated Liberty $ 104 14 (40) (a) During the year ended December 31, 2017, an equity method affiliate of Braves Holdings sold a controlling interest in a subsidiary, resulting in Braves Holdings recording its portion of the gain of $69 million. SIRIUS XM Canada In the acquisition of SIRIUS XM on January 18, 2013, Liberty acquired an interest in Sirius XM Canada Holdings, Inc. (“SIRIUS XM Canada”) which SIRIUS XM accounts for as an equity method affiliate. Liberty recognized the investment at fair value, based on the market price per share (level 1), on the date of acquisition. On May 25, 2017, SIRIUS XM completed a recapitalization of SIRIUS XM Canada, which is now a privately held corporation. SIRIUS XM now holds a 70% equity interest and 33% voting interest in SIRIUS XM Canada, with the remainder of the voting power and equity interest held by two of SIRIUS XM Canada’s previous shareholders. The total consideration from SIRIUS XM to SIRIUS XM Canada, excluding transaction costs, during the year ended December 31, 2017 was $309 million, which included $130 million in cash and SIRIUS XM issued 35 million shares of its common stock with an aggregate value of $179 million to the holders of the shares of SIRIUS XM Canada acquired in the transaction. SIRIUS XM received common stock, non-voting common stock and preferred stock of SIRIUS XM Canada. SIRIUS XM owns approximately 591 million shares of preferred stock of SIRIUS XM Canada, which has a liquidation preference of one Canadian dollar per share. SIRIUS XM Canada is accounted for as an equity method investment as SIRIUS XM does not have the ability to direct the most significant activities that impact SIRIUS XM Canada’s economic performance. SIRIUS XM also made a contribution in the form of a loan to SIRIUS XM Canada in the aggregate amount of $131 million on May 25, 2017. The loan is denominated in Canadian dollars and is considered a long-term investment with any unrealized gains or losses reported within Accumulated other comprehensive (loss) income. Such loan has a term of fifteen years, bears interest at a rate of 7.62% per annum and includes customary covenants and events of default, including an event of default relating to SIRIUS XM Canada’s failure to maintain specified leverage ratios. In addition, the terms of the loan require SIRIUS XM Canada to prepay a portion of the outstanding principal amount of the loan within sixty days of the end of each fiscal year in an amount equal to any cash on hand in excess of C$10 million at the last day of the financial year if all target dividends have been paid in full. SIRIUS XM also entered into a Services Agreement and an Advisory Services Agreement with SIRIUS XM Canada. Each agreement has a thirty year term. Pursuant to the Services Agreement, SIRIUS XM Canada will pay SIRIUS XM 25% of its gross revenue on a monthly basis through December 31, 2021 and 30% of its gross revenue on a monthly basis thereafter. Pursuant to the Advisory Services Agreement, SIRIUS XM Canada will pay SIRIUS XM 5% of its gross revenue on a monthly basis. These agreements supersede and replace the existing agreements between SIRIUS XM Canada and its predecessors and SIRIUS XM. Under the legacy agreement, as of December 31, 2016, SIRIUS XM’s related party current assets balance primarily consisted of activation fees and streaming and chipset costs for which it was reimbursed. SIRIUS XM has approximately $10 million and $6 million in related party current assets as of December 31, 2017 and 2016, respectively. As of December 31, 2017, the related party current asset balance included amounts due under the new services arrangements and certain amounts due related to transactions outside of the scope of the new services arrangements. At December 31, 2017 and 2016, SIRIUS XM has approximately $10 million and $11 million in related party liabilities, respectively, related to the legacy agreements with SIRIUS XM Canada which are recorded in current and noncurrent other liabilities in the Company’s consolidated balance sheets. SIRIUS XM recorded approximately $87 million, $46 million and $56 million in revenue for the years ended December 31, 2017, 2016 and 2015, respectively, associated with these various agreements in the Other revenue line in the consolidated statements of operations. SIRIUS XM Canada declared and paid dividends to SIRIUS XM of $4 million, $8 million and $16 million during the years ended December 31, 2017, 2016 and 2015, respectively. These dividends were first recorded as a reduction to SIRIUS XM’s investment balance in Sirius XM Canada to the extent a balance existed and then as Other income for the remaining portion.

Intangible Assets

Intangible Assets	12 Months Ended
	Dec. 31, 2017
Goodwill and Other Intangible Assets
Goodwill and Other Intangible Assets	(9) Goodwill and Other Intangible Assets Goodwill Changes in the carrying amount of goodwill are as follows: SIRIUS XM Formula 1 Other Total amounts in millions Balance at January 1, 2016 $ 14,165 — 180 14,345 Other — — — — Balance at December 31, 2016 14,165 — 180 14,345 Acquisitions (a) (b) 82 3,956 — 4,038 Balance at December 31, 2017 $ 14,247 3,956 180 18,383 (a) On April 18, 2017, SIRIUS XM acquired Automatic Labs Inc., a connected vehicle device and mobile application company, for an aggregate purchase price of approximately $108 million, net of cash and restricted cash acquired. The excess purchase price over identifiable net assets of $82 million was recorded to goodwill. (b) See note 5 for details regarding the Formula 1 acquisition. Other Intangible Assets Not Subject to Amortization Other intangible assets not subject to amortization, not separately disclosed, are tradenames ($931 million and $930 million) at December 31, 2017 and 2016 and franchise rights owned by Braves Holdings ($143 million) as of December 31, 2017 and 2016. We identified these assets as indefinite life intangible assets after considering the expected use of the assets, the regulatory and economic environment within which they are used and the effects of obsolescence on their use. SIRIUS XM’s Federal Communications Commission (“FCC”) licenses are currently scheduled to expire in 2018, 2021, 2022 and 2025. Prior to expiration, SIRIUS XM is required to apply for a renewal of its FCC licenses. The renewal and extension of its licenses is reasonably certain at minimal cost, which is expensed as incurred. Each of the FCC licenses authorizes SIRIUS XM to use the broadcast spectrum, which is a renewable, reusable resource that does not deplete or exhaust over time. Intangible Assets Subject to Amortization Intangible assets subject to amortization are comprised of the following: December 31, 2017 December 31, 2016 Gross Net Gross Net carrying Accumulated carrying carrying Accumulated carrying amount amortization amount amount amortization amount amounts in millions FIA Agreement $ 3,630 (157) 3,473 — — — Customer relationships 2,684 (501) 2,183 830 (228) 602 Licensing agreements 330 (138) 192 316 (109) 207 Other 798 (515) 283 686 (423) 263 Total $ 7,442 (1,311) 6,131 1,832 (760) 1,072 Customer relationships are amortized over 10-15 years and licensing agreements are amortized over 15 years. Amortization expense was $594 million, $168 million and $155 million for the years ended December 31, 2017, 2016 and 2015, respectively. Based on its amortizable intangible assets as of December 31, 2017, Liberty expects that amortization expense will be as follows for the next five years (amounts in millions): 2018 $ 611 2019 $ 598 2020 $ 502 2021 $ 469 2022 $ 433

Long-Term Debt

Long-Term Debt	12 Months Ended
	Dec. 31, 2017
Debt
Debt	(10) Debt Debt is summarized as follows: Outstanding Carrying value Principal December 31, December 31, December 31, 2017 2017 2016 Liberty SiriusXM Group Corporate level notes and loans: Margin loans $ 750 750 250 Subsidiary notes and loans: SIRIUS XM 5.75% Senior Notes due 2021 — — 596 SIRIUS XM 5.25% Senior Secured Notes due 2022 — — 405 SIRIUS XM 4.25% Senior Notes due 2020 — — 497 SIRIUS XM 3.875% Senior Notes due 2022 1,000 992 — SIRIUS XM 4.625% Senior Notes due 2023 500 497 496 SIRIUS XM 6% Senior Notes due 2024 1,500 1,488 1,487 SIRIUS XM 5.375% Senior Notes due 2025 1,000 991 990 SIRIUS XM 5.375% Senior Notes due 2026 1,000 990 989 SIRIUS XM 5.0% Senior Notes due 2027 1,500 1,486 — SIRIUS XM Senior Secured Revolving Credit Facility 300 300 390 SIRIUS XM leases 11 11 14 Less deferred financing costs (9) (7) Total Liberty SiriusXM Group 7,561 7,496 6,107 Braves Group Subsidiary notes and loans: Notes and loans 667 667 338 Less deferred financing costs (5) (10) Total Braves Group 667 662 328 Formula One Group Corporate level notes and loans: 1.375% Cash Convertible Notes due 2023 1,000 1,146 1,076 1% Cash Convertible Notes due 2023 450 505 — 2.25% Exchangeable Senior Debentures due 2046 445 464 470 Live Nation Margin Loan 350 350 — Other 35 35 37 Subsidiary notes and loans: Bank Loans 3,302 3,314 — Less deferred financing costs (18) — Total Formula One Group 5,582 5,796 1,583 Total debt $ 13,810 13,954 8,018 Less debt classified as current (768) (5) Total long-term debt $ 13,186 8,013 1.375% Cash Convertible Senior Notes due 2023 On October 17, 2013 Liberty issued $1 billion aggregate principal amount of 1.375% Cash Convertible Senior Notes due 2023 (“Convertible Notes”). The Convertible Notes will mature on October 15, 2023 unless earlier repurchased by us or converted. Interest on the Convertible Notes is payable semi-annually in arrears on April 15 and October 15 of each year at a rate of 1.375% per annum. All conversion of the Convertible Notes will be settled solely in cash, and not through the delivery of any securities. Prior to the Recapitalization, the conversion rate for the Convertible Notes was 21.0859 shares of Series A Liberty Media Corporation common stock per $1,000 principal amount of Convertible Notes and an adjusted conversion price of $47.43 per share of Series A Liberty Media Corporation common stock. As a result of the Recapitalization, as discussed in note 2, the Convertible Notes are convertible into cash based on the Securities Basket. The supplemental indenture entered into on April 15, 2016 in connection with the Recapitalization amends the conversion, adjustment and other provisions of the indenture to give effect to the Recapitalization and provides that the conversion consideration due upon conversion of any Convertible Note shall be determined as if references in the indenture to one share of Series A Liberty Media Corporation common stock were instead a reference to the Securities Basket, initially consisting of 0.10 of a share of Series A Liberty Braves common stock, 1.0 share of Series A Liberty SiriusXM common stock and 0.25 of a share of Series A Liberty Formula One common stock. The Series A Liberty Braves common stock component of the Securities Basket was adjusted to 0.1087 pursuant to anti-dilution adjustments arising out of the distribution of subscription rights to purchase shares of Series C Liberty Braves common stock made to all holders of Liberty Braves common stock. Holders of the Convertible Notes may convert their notes at their option at any time prior to the close of business on the second business day immediately preceding the maturity date of the notes under certain circumstances. Liberty has elected to account for this instrument using the fair value option. Accordingly, changes in the fair value of this instrument are recognized as unrealized gains (losses) in the statements of operations. As of December 31, 2017, the Convertible Notes are classified as a long term liability in the consolidated balance sheets, as the conversion conditions have not been met as of such date. Additionally, contemporaneously with the issuance of the Convertible Notes, Liberty entered into the Bond Hedge Transaction. The Bond Hedge Transaction is expected to offset potential cash payments Liberty would be required to make in excess of the principal amount of the Convertible Notes, upon conversion of the notes in the event that the volume-weighted average price per share of the Series A Liberty Media Corporation common stock, as measured under the cash convertible note hedge transactions on each trading day of the relevant cash settlement averaging period or other relevant valuation period, was greater than the strike price of Series A Liberty Media Corporation common stock, which corresponded to the conversion price of the Convertible Notes. In connection with the Recapitalization and the entry into the supplemental indenture on April 15, 2016, Liberty entered into amendments to the Bond Hedge Transaction with each of the counterparties to reflect the adjustments resulting from the Recapitalization. As of the effective date of the Recapitalization, the Bond Hedge Transaction covered, in the aggregate, 5,271,475 shares of Series A Liberty Formula One common stock, 21,085,900 shares of Series A Liberty SiriusXM common stock and 2,108,590 shares of Series A Liberty Braves common stock, subject to anti-dilution adjustments pertaining to the Convertible Notes, which was equal to the aggregate number of shares comprising the Securities Basket underlying the Convertible Notes at that time. The aggregate number of shares of Series A Liberty Braves common stock relating to the Bond Hedge Transaction was increased to 2,292,037, pursuant to anti-dilution adjustments arising out of the rights distribution (note 2). As of December 31, 2017, the basket price of the securities underlying the Bond Hedge Transaction was $50.24 per share. The bond hedge expires on October 15, 2023 and is included in other assets as of December 31, 2017 and 2016 in the accompanying consolidated balance sheets, with changes in the fair value recorded as unrealized gains (losses) on financial instruments, in the accompanying consolidated statements of operations. Concurrently with the Convertible Notes and Bond Hedge Transaction, Liberty also entered into separate privately negotiated warrant transactions under which Liberty sold warrants relating to the same number of shares of common stock as underlie the Bond Hedge Transaction, subject to anti-dilution adjustments (“Warrant Transactions”). The first expiration date of the warrants is January 16, 2024 and expire over a period covering 81 days thereafter. Liberty may elect to settle its delivery obligation under the warrant transactions with cash. In connection with the Recapitalization, Liberty entered into amendments to the Warrant Transactions with each of the option counterparties to reflect the adjustments to the Warrant Transactions resulting from the Recapitalization (“Amended Warrant Transactions”). As of the effective date of the Recapitalization, the Amended Warrant Transactions covered, in the aggregate, 5,271,475 shares of Series A Liberty Formula One common stock, 21,085,900 shares of Series A Liberty SiriusXM common stock and 2,108,590 shares of Series A Liberty Braves common stock, subject to anti-dilution adjustments. The aggregate number of shares of Series A Liberty Braves common stock relating to the Amended Warrant Transactions was increased to 2,292,037 pursuant to anti-dilution adjustments arising out of the rights distribution. The strike price of the warrants was adjusted, as a result of the Recapitalization and the rights offering, to $61.16 per share. As of December 31, 2017, the basket price of the securities underlying the Amended Warrant Transactions was $50.24 per share. The Amended Warrant Transactions may have a dilutive effect with respect to the shares comprising the Securities Basket underlying the warrants to the extent that the settlement price exceeds the strike price of the warrants, and the warrants are settled in shares comprising such Securities Basket. 1% Cash Convertible Notes due 2023 In connection with the Second Closing on January 23, 2017, Liberty issued $450 million convertible cash notes at an interest rate of 1% per annum, which are convertible, under certain circumstances, into cash based on the trading prices of the underlying shares of Series C Liberty Formula One common stock and mature on January 30, 2023 (the ‘‘1% Convertible Notes’’). The initial conversion rate for the notes will be 27.1091 shares of Series C Liberty Formula One common stock per $1,000 principal amount of notes, equivalent to an initial conversion price of approximately $36.89 per share of Series C Liberty Formula One common stock. The conversion of the 1% Convertible Notes will be settled solely in cash, and not through the delivery of any securities. As discussed in note 5, Liberty used a portion of the net proceeds of the 1% Convertible Notes to fund an increase to the cash consideration payable to the selling shareholders of Formula 1 by approximately $400 million. 2.25% Exchangeable Senior Debentures due 2046 On August 17, 2016, Liberty closed a private offering of approximately $445 million aggregate principal amount of its 2.25% exchangeable senior debentures due 2046 (the “2.25% Exchangeable Senior Debentures due 2046”). Upon an exchange of debentures, Liberty, at its option, may deliver Time Warner common stock, cash or a combination of Time Warner common stock and cash. The number of shares of Time Warner common stock attributable to a debenture represents an initial exchange price of approximately $104.55 per share. A total of approximately 4.25 million shares of Time Warner common stock are attributable to the debentures. Interest is payable quarterly on March 31, June 30, September 30 and December 31 of each year, commencing December 31, 2016. The debentures may be redeemed by Liberty, in whole or in part, on or after October 5, 2021. Holders of the debentures also have the right to require Liberty to purchase their debentures on October 5, 2021. The redemption and purchase price will generally equal 100% of the adjusted principal amount of the debentures plus accrued and unpaid interest. The debentures, as well as the associated cash proceeds, were attributed to the Formula One Group. Liberty used the net proceeds of the offering for the acquisition of an investment in Formula 1 during September 2016, as further described in note 5. Liberty has elected to account for the debentures using the fair value option. Accordingly, changes in the fair value of these instruments are recognized as unrealized gains (losses) in the accompanying consolidated statements of operations. On October 22, 2016, AT&T Inc. (“AT&T”) and Time Warner announced that they entered into a definitive agreement under which AT&T will acquire Time Warner in a stock-and-cash transaction. The transaction is subject to approval by Time Warner shareholders and review by the U.S. Department of Justice, as well as potential review by the FCC. If the acquisition is consummated, in accordance with the terms of the indenture governing the 2.25% Exchangeable Senior Debentures due 2046, the cash portion of the acquisition consideration would be paid as an extraordinary additional distribution to holders of debentures and the stock portion of the acquisition consideration would become reference shares attributable to the debentures. Additionally, if the acquisition is consummated, any amount of excess regular quarterly cash dividends paid on the AT&T reference shares would be distributed by the Company to holders of the debentures as an additional distribution. Margin Loans $750 Million Margin Loan due 2018 On April 30, 2013, Liberty Siri MarginCo, LLC, a wholly-owned subsidiary of Liberty, entered into a margin loan agreement. Shares of common stock of certain of the Company’s equity affiliates and cost investments were pledged as collateral pursuant to this agreement. During October 2014, Liberty refinanced this margin loan arrangement for a similar financial instrument with a term loan of $250 million and a $750 million undrawn line of credit. The term loan and any drawn portion of the revolver bore interest at a rate of LIBOR plus an applicable spread between 1.75% and 2.50% (based on value of collateral) with the undrawn portion carrying a fee of 0.75%. Interest on the term loan was payable on the first business day of each calendar quarter, and interest was payable on the revolving line of credit on the last day of the interest period applicable to the borrowing of which such loan is a part. During October 2015, Liberty refinanced this margin loan arrangement for a similar financial instrument with a term loan of $250 million and a $1 billion undrawn line of credit. As of December 31, 2015, shares of SIRIUS XM and Live Nation were pledged as collateral pursuant to this agreement. The new term loan and any drawn portion of the revolver carried an interest rate of LIBOR plus an applicable spread between 1.75% and 2.25% (based on the value of collateral) with the undrawn portion carrying a fee of 0.75%. Other terms of the agreement were substantially similar to the previous arrangement. During October 2016, Liberty amended this margin loan arrangement to provide for a similar financial instrument with a term loan of $250 million and a $500 million undrawn line of credit, which is scheduled to mature during October 2018. The new term loan and any drawn portion of the revolver carries an interest rate of LIBOR plus 1.75% with the undrawn portion carrying a fee of 0.75%. Other terms of the agreement were substantially similar to the previous arrangement, except shares of Live Nation common stock were no longer pledged as collateral under the new arrangement. Borrowings outstanding under this margin loan bore interest at a rate of 3.24% per annum at December 31, 2017. As of December 31, 2017, the Company had fully drawn against the revolving line of credit and 1,138.4 million shares of SIRIUS XM common stock held by Liberty with a value of $6,102 million were pledged as collateral. As of December 31, 2017, the $750 million margin loan due 2018 is classified as current in the accompanying consolidated balance sheet. The margin loan contains various affirmative and negative covenants that restrict the activities of the borrower. The loan agreement does not include any financial covenants. Live Nation Margin Loan On November 8, 2016, LMC LYV, LLC, a wholly-owned subsidiary of Liberty, entered into a margin loan agreement with an available borrowing capacity of $500 million with various financial institutions. This margin loan had a two year term, bore interest at a rate of LIBOR plus 2.25% and contained an undrawn commitment fee of 0.75% per annum. On December 12, 2017, the margin loan agreement was amended, extending the maturity date to December 12, 2019, and decreasing the interest rate to LIBOR plus 1.90% and the undrawn commitment fee to 0.60% per annum. Borrowings outstanding under this margin loan bore interest at a rate of 3.23% per annum as of December 31, 2017. Interest on the term loan is payable on the first business day of each calendar quarter. This loan was undrawn as of December 31, 2016. On January 20, 2017, LMC LYV, LLC drew $350 million under the margin loan, and the proceeds were used for the Second Closing, as discussed in notes 2 and 5. As of December 31, 2017, availability under the Live Nation Margin Loan was $150 million. 53.7 million shares of the Company’s Live Nation common stock with a value of $2,288 million and other investments with a value of $57 million were pledged as collateral to the loan as of December 31, 2017. The margin loan contains various affirmative and negative covenants that restrict the activities of the borrower. The loan agreement does not include any financial covenants. SIRIUS XM Senior Notes and Senior Secured Revolving Credit Facility SIRIUS XM 5.75% Senior Notes Due 2021 During August 2013, SIRIUS XM issued $600 million of 5.75% Senior Notes due 2021 (“5.75% Notes”). Interest on the notes is payable semi-annually in arrears on February 1 and August 1 of each year at a rate of 5.75% per annum. Substantially all of SIRIUS XM’s domestic wholly-owned subsidiaries guarantee SIRIUS XM’s obligations under the notes. The 5.75% Notes were issued for $594 million. On August 4, 2017, SIRIUS XM redeemed all of its 5.75% Notes for a total amount of $618 million. This redemption resulted in a loss on extinguishment of debt of approximately $21 million. SIRIUS XM 5.25% Senior Secured Notes due 2022 In August 2012, SIRIUS XM issued $400 million aggregate principal amount of 5.25% Senior Secured Notes due 2022 (the “5.25% Notes”). Interest is payable semi-annually in arrears on February 15 and August 15 of each year at a rate of 5.25% per annum. On September 1, 2017, SIRIUS XM redeemed all of its 5.25% Notes for a total amount of $411 million. This redemption resulted in a loss on extinguishment of debt of approximately $14 million. SIRIUS XM Senior Notes Due 2020 and 2023 In May 2013, SIRIUS XM issued $500 million of Senior Notes due 2020 which bear interest at an annual rate of 4.25% and $500 million of Senior Notes due 2023 which bear interest at an annual rate of 4.625%. SIRIUS XM received net proceeds of $989 million from the sale of the notes after deducting commissions, fees and expenses. Interest on the notes is payable semi-annually in arrears on May 15 and November 15 of each year. Substantially all of SIRIUS XM’s domestic wholly-owned subsidiaries guarantee SIRIUS XM’s obligations under the notes. On July 27, 2017, SIRIUS XM redeemed all of its 4.25% Notes for a total amount of $510 million. This redemption resulted in a loss on extinguishment of debt of approximately $8 million. SIRIUS XM Senior Notes Due 2022 and 2027 In July 2017, SIRIUS XM issued $1.0 billion aggregate principal amount of 3.875% Senior Notes due 2022 (the “3.875% Notes”) and $1.5 billion aggregate principal amount of 5.00% Senior Notes due 2027 (the “5.00% Notes”). For both series of notes, interest is payable semi-annually in arrears on February 1 and August 1, commencing on February 1, 2018. The 3.875% Notes will mature on August 1, 2022 and the 5.00% Notes will mature on August 1, 2027. SIRIUS XM 6% Senior Notes due 2024 In May 2014, SIRIUS XM issued $1.5 billion aggregate principal amount of 6% Senior Notes due 2024 (the “6% Notes”). Interest is payable semi-annually in arrears on January 15 and July 15 of each year at a rate of 6% per annum. The 6% Notes will mature on July 15, 2024. SIRIUS XM 5.375% Senior Notes due 2025 In March 2015, SIRIUS XM issued $1.0 billion principal amount of new senior notes due 2025 which bear interest at an annual rate 5.375% (“SIRIUS XM 5.375% Senior Notes due 2025”) with an original issuance discount of $11 million. The SIRIUS XM 5.375% Senior Notes due 2025 are recorded net of the remaining unamortized discount. SIRIUS XM 5.375% Senior Notes due 2026 In May 2016, SIRIUS XM issued $1.0 billion principal amount of new senior notes due July 2026 which bear interest at an annual rate 5.375% (“SIRIUS XM 5.375% Senior Notes due 2026”) with an original issuance discount of $11 million. The SIRIUS XM 5.375% Senior Notes due 2026 are recorded net of the remaining unamortized discount. SIRIUS XM Senior Secured Revolving Credit Facility SIRIUS XM entered into a Senior Secured Revolving Credit Facility (the “Credit Facility”) with a syndicate of financial institutions with a total borrowing capacity of $1,750 million which matures in June 2020. The Credit Facility is guaranteed by certain of SIRIUS XM’s material domestic subsidiaries and is secured by a lien on substantially all of SIRIUS XM’s assets and the assets of its material domestic subsidiaries. The proceeds of loans under the Credit Facility are used for working capital and other general corporate purposes, including financing acquisitions, share repurchases and dividends. Interest on borrowings is payable on a monthly basis and accrues at a rate based on LIBOR plus an applicable rate. Borrowings outstanding under the Credit Facility as of December 31, 2017 bore interest at a rate of 3.30% per annum. SIRIUS XM is required to pay a variable fee on the average daily unused portion of the Credit Facility which was 0.25% as of December 31, 2017 and is payable on a quarterly basis. The Credit Facility contains customary covenants, including a maintenance covenant. As of December 31, 2017, availability under the Credit Facility was $1,450 million. Braves Holdings Notes and Loans Braves Holdings’ debt is summarized as follows: Carrying value As of December 31, 2017 December 31, December 31, Borrowing Weighted avg Maturity 2017 2016 Capacity interest rate Date amounts in millions Operating credit facilities $ various Ballpark funding Term loan 55 10 55 August 2021 Senior secured note 200 200 200 August 2041 Floating rate notes 75 — 75 September 2029 Mixed-use credit facilities (a) 200 67 237 various Spring training credit facility 39 — 40 December 2022 Total Braves Holdings $ 667 338 792 (a) As discussed in note 7, 464 thousand Time Warner shares with a fair value of $42 million were pledged as collateral to certain mixed-use facilities as of December 31, 2017. In 2014, Braves Holdings, through a wholly-owned subsidiary, purchased 82 acres of land for the purpose of constructing a Major League Baseball facility and development of a mixed-use complex adjacent to the ballpark. The total cost of the ballpark was approximately $722 million, of which approximately $392 million was funded by a combination of Cobb County, the Cumberland Improvement District and Cobb-Marietta Coliseum and Exhibit Hall Authority (the “Authority”) and approximately $330 million was funded by Braves Holdings. Funding for ballpark initiatives by Braves Holdings came from cash on hand and various debt instruments, as detailed above. In addition, Braves Holdings through affiliated entities and outside development partners are in the process of developing the land around the ballpark for a mixed-use complex that features retail, residential, office, hotel and entertainment opportunities. The estimated cost for the mixed-use development, known as The Battery Atlanta, is $558 million, of which Braves Holdings affiliated entities are expected to fund approximately $470 million through a mix of approximately $200 million in equity and $270 million in new debt . As of December 31, 2017, approximately $419 million has been spent on the mixed-use development. Braves Holdings funded approximately $388 million of this amount through a mix of $188 million in equity and approximately $200 million in debt. Formula 1 Notes and Loans Bank Loans Formula 1 had a first lien term loan denominated in Euros totaling $42 million, which was repaid on June 30, 2017. On August 3, 2017, Formula 1 increased the amount outstanding under a first lien term loan denominated in U.S. Dollars (the “Senior Loan Facility”) from $3.1 billion to $3.3 billion and extended its maturity to February 2024. In addition, on August 3, 2017, the revolving credit facility under the Senior Loan Facility was increased from $75 million to $500 million. As part of a refinancing of the Senior Loan Facility in March 2017, $628 million of the Senior Loan Facility was considered repaid and then borrowed due to a change in the mix of counterparties in the Senior Loan Facility. As part of the refinancing in March 2017, the interest rate on the Senior Loan Facility was reduced from LIBOR plus 3.75% per annum to LIBOR plus 3.25% per annum, with a LIBOR floor on the U.S. Dollar denominated debt of 1%. In September 2017, the interest rate on the Senior Loan Facility was reduced to LIBOR plus 3.0% per annum. The interest rate on the Senior Loan Facility was approximately 4.57% as of December 31, 2017. The Senior Loan Facility is secured by share pledges, bank accounts and floating charges over Formula 1’s primary operating companies with certain cross guarantees. Additionally, as of December 31, 2017, Formula 1 has interest rate swaps on $2.5 billion of the $3.3 billion Senior Loan Facility in order to manage its interest rate risk. On January 31, 2018, Formula 1 refinanced the Senior Loan Facility. As part of the refinancing, Formula 1 repaid $400 million of the Senior Loan Facility, reducing the amount outstanding to $2.9 billion. The repayment was funded through borrowings of $250 million under the revolving credit facility and $150 million of cash on hand. The interest rate on the Senior Loan Facility was reduced to LIBOR plus 2.5% per annum. Formula 1 also had a second lien facility, which had $1 billion outstanding at the time of the acquisition of Formula 1 by Liberty. In May 2017, Liberty issued 12.9 million shares of Series C Liberty Formula One common stock and used the net proceeds of approximately $388 million to repay a portion of the second lien facility. Formula 1 fully repaid the second lien facility during the year ended December 31, 2017. Delta Topco Limited Exchangeable Redeemable Loan Notes As discussed in note 5, in connection with the Second Closing on January 23, 2017, Delta Topco issued the Exchangeable Notes upon the conversion of certain outstanding Delta Topco loan notes. The Exchangeable Notes bore interest at 2% per annum and were exchangeable into cash or newly issued shares of Series C Liberty Formula One common stock. Interest was payable by either, at the discretion of Delta Topco, (i) issuing payment-in-kind notes or (ii) cash. In September 2017, $323 million aggregate principal amount of Exchangeable Notes were exchanged for 14.5 million shares of Series C Liberty Formula One common stock. In November 2017, the remaining $27 million aggregate principal amount of Exchangeable Notes were exchanged for 1.2 million shares of Series C Liberty Formula One common stock. The Exchangeable Notes were attributed to the Formula One Group. The debt host component of the Exchangeable Notes was recorded as debt, at fair value (level 2), with the related discount amortized using the effective interest rate method, while the embedded conversion option was recorded in additional paid-in capital. Upon settlement, the Company recorded a true-up to additional paid-in capital for the amount and type (shares of Series C Liberty Formula One common stock) of settlement. Debt Covenants The SIRIUS XM Credit Facility contains certain financial covenants related to SIRIUS XM’s leverage ratio. Braves Holdings’ term loan contains certain financial covenants related to Braves Holdings’ debt service coverage ratio and capital expenditures. Additionally, SIRIUS XM’s Credit Facility, the Braves Holdings term loan, Formula 1 debt and other borrowings contain certain non-financial covenants. As of December 31, 2017, the Company, SIRIUS XM, Formula 1 and Braves Holdings were in compliance with all debt covenants. Fair Value of Debt The fair value, based on quoted market prices of the same instruments but not considered to be active markets (Level 2), of SIRIUS XM’s publicly traded debt securities is as follows (amounts in millions): December 31, 2017 SIRIUS XM 3.875% Senior Notes due 2022 $ 1,002 SIRIUS XM 4.625% Senior Notes due 2023 $ 510 SIRIUS XM 6% Senior Notes due 2024 $ 1,587 SIRIUS XM 5.375% Senior Notes due 2025 $ 1,038 SIRIUS XM 5.375% Senior Notes due 2026 $ 1,039 SIRIUS XM 5.0% Senior Notes due 2027 $ 1,500 Due to the variable rate nature of the Credit Facility, margin loans and other debt, the Company believes that the carrying amount approximates fair value at December 31, 2017. Five Year Maturities The annual principal maturities of outstanding debt obligations for each of the next five years is as follows (amounts in millions): 2018 $ 770 2019 $ 544 2020 $ 437 2021 $ 59 2022 $ 1,052

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2017
Income Taxes
Income Taxes	(11) Income Taxes On December 22, 2017, the U.S. government enacted comprehensive tax legislation commonly referred to as the Tax Cuts and Jobs Act (the “Tax Act”). The Tax Act makes broad and complex changes to the U.S. tax code, including, but not limited to, (1) reducing the U.S. federal corporate tax rate from 35 percent to 21 percent; (2) bonus depreciation that will allow for full expensing of qualified property; (3) creating a new limitation on deductible interest expense; (4) eliminating the corporate alternative minimum tax (“AMT”) and changing how existing AMT credits can be realized; (5) changing rules related to uses and limitations of net operating loss carryforwards created in tax years beginning after December 31, 2017; (6) limitations on the deductibility of certain executive compensation; and (7) requiring a one-time transition tax on certain unrepatriated earnings of foreign subsidiaries that is payable over eight years. The SEC issued guidance on accounting for the tax effects of the Tax Act. The Company must reflect the income tax effects of those aspects of the Tax Act for which the accounting is known. To the extent that a company’s accounting for certain income tax effects of the Tax Act is incomplete but it is able to determine a reasonable estimate, it must record a provisional estimate in the financial statements and the Tax Act provides a measurement period that should not extend beyond one year from the Tax Act enactment date. If a company cannot determine a provisional estimate to be included in the financial statements, it should continue to apply the tax laws that were in effect immediately before the enactment of the Tax Act. The corporate rate reduction was applied to our inventory of deferred tax assets and deferred tax liabilities which resulted in the net tax benefit in the period ending December 31, 2017. This net tax benefit is a provisional estimate. The Tax Act also provides for a mandatory one-time transition tax on deemed repatriated accumulated earnings and profits of foreign subsidiaries. Liberty estimates that its foreign subsidiaries have accumulated earnings and profits deficits and will not be subject to the transition tax. Based on a continued analysis of the estimate and further guidance and interpretations on the application of the law, additional revisions may occur throughout the allowable measurement period. Income tax benefit (expense) consists of: Years ended December 31, 2017 2016 2015 amounts in millions Current: Federal $ 38 (39) (17) State and local (30) (29) (17) Foreign (9) — (1) (1) (68) (35) Deferred: Federal 578 (388) (145) State and local (21) (39) (30) Foreign 507 — — 1,064 (427) (175) Income tax benefit (expense) $ 1,063 (495) (210) 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, 2017 2016 2015 amounts in millions Computed expected tax benefit (expense) $ (289) (497) (160) State and local income taxes, net of federal income taxes (37) (46) (1) Foreign income taxes, net of federal income taxes 88 — — Dividends received deductions 38 11 2 Taxable dividends not recognized for book purposes (45) (11) — Federal tax credits 22 67 — Change in valuation allowance affecting tax expense 212 (1) (44) Change in tax rate due to Tax Act 929 — — Settlements with tax authorities 253 — — Income tax reserves (22) — — Non-deductible / Non-taxable interest (60) — — Write-off of tax attributes (42) — — Other, net 16 (18) (7) Income tax benefit (expense) $ 1,063 (495) (210) For the year ended December 31, 2017, the significant reconciling items, as noted in the table above, are a net tax benefit for the effect of the changes in the U.S. federal corporate tax rate from 35% to 21% on deferred taxes, a net tax benefit for a settlement reached by Formula 1 with the U.K. tax authorities and a net tax benefit for the effects of a new U.K. tax law that changed the Company’s judgment with respect to the future realization of U.K. tax losses. For the year ended December 31, 2016 the significant reconciling item, as noted in the table above, is state income taxes offset with federal income tax credits claimed by SIRIUS XM related to research and development activities. For the year ended December 31, 2015 the significant reconciling item, as noted in the table above, is a $44 million increase in the valuation allowance due to the effect of a tax law change in the District of Columbia (“D.C.”) which reduces the future allocation of SIRIUS XM’s taxable income in D.C. As a result, SIRIUS XM expects it will utilize less of its D.C. net operating losses in the future, resulting in a $44 million increase in the valuation allowance offsetting the deferred tax asset for these net operating losses. 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, 2017 2016 amounts in millions Deferred tax assets: Net operating and capital loss carryforwards and tax credits $ 1,017 1,381 Accrued stock compensation 88 136 Other accrued liabilities 175 102 Deferred revenue 502 761 Discount on debt 26 — Other future deductible amounts 22 20 Deferred tax assets 1,830 2,400 Valuation allowance (112) (50) Net deferred tax assets 1,718 2,350 Deferred tax liabilities: Investments 110 81 Fixed assets 326 330 Intangible assets 2,760 3,961 Discount on debt — 3 Deferred tax liabilities 3,196 4,375 Net deferred tax liabilities $ 1,478 2,025 SIRIUS XM’s deferred tax assets and liabilities are included in the amounts above although SIRIUS XM’s deferred tax assets and liabilities are not offset with Liberty’s deferred tax assets and liabilities as SIRIUS XM is not included in the consolidated group tax return of Liberty. Liberty’s acquisition of a controlling interest in SIRIUS XM’s outstanding common stock during January 2013 did not cause a change in control under Section 382 of the Code. During the year ended December 31, 2017, the $62 million increase in the Company’s valuation allowance was primarily driven by a $274 million increase due to the acquisition of Formula 1, partially offset by changes in the valuation allowance affecting tax expense. At December 31, 2017, the Company had federal and state net operating loss carryforwards for income tax purposes which, if not utilized to reduce taxable income in future periods, will expire on various dates through 2037. The Company’s federal net operating loss carryforwards are primarily attributable to those at the SIRIUS XM level ($1,977 million, $415 million tax effected). The Company has U.K. net operating loss carryforwards for income tax purposes, which have no expiration under current U.K. law. A reconciliation of unrecognized tax benefits is as follows: December 31, 2017 2016 2015 amounts in millions Balance at beginning of year $ 304 254 2 Reductions for tax positions of prior years (1) (1) — Increase in tax positions for current year 16 51 — Increase in tax positions from prior years 37 — 252 Settlements with tax authorities (423) — — Increase in tax positions from acquisition 432 — — Balance at end of year $ 365 304 254 As of December 31, 2017, the Company had recorded tax reserves of $365 million related to unrecognized tax benefits for uncertain tax positions. If such tax benefits were to be recognized for financial statement purposes, approximately $257 million dollars would be reflected in the Company’s tax expense and affect its effective tax rate. We do not currently anticipate that our existing reserves related to uncertain tax positions as of December 31, 2017 will significantly increase or decrease during the twelve-month period ending December 31, 2018; however, various events could cause our current expectations to change in the future. The Company’s estimate of its unrecognized tax benefits related to uncertain tax positions requires a high degree of judgment. As of December 31, 2017, the Company’s tax years prior to 2014 are closed for federal income tax purposes, and the IRS has completed its examination of the Company’s 2014 through 2016 tax years. The Company’s tax loss carryforwards from its 2011 through 2015 tax years are still subject to adjustment. The Company’s 2017 tax year is being examined currently as part of the IRS’s Compliance Assurance Process program. Various states are currently examining the Company’s prior years state income tax returns. SIRIUS XM, which does not consolidate with Liberty for income tax purposes, has certain state income tax audits pending. We do not expect the ultimate disposition of these audits to have a material adverse effect on our financial position or results of operations. As of December 31, 2017, the Company had less than $1 million dollars in accrued interest and penalties recorded related to uncertain tax positions.

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Dec. 31, 2017
Stockholders' Equity
Stockholders' Equity	(12) 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, 2017, no shares of preferred stock were issued. Common Stock As discussed in note 2, on April 15, 2016, the Company completed the Recapitalization of its common stock into three new tracking stock groups, one designated as the Liberty SiriusXM common stock, one designated as the Liberty Braves common stock and one designated as the Liberty Media common stock. As further discussed in note 2, the Liberty Media common stock was renamed Liberty Formula One common stock on January 24, 2017 shortly after the Second Closing. The operating results prior to the Recapitalization are attributed to Liberty stockholders in the aggregate, and the operating results subsequent to the Recapitalization are attributed to the respective tracking stock groups. As discussed in note 1, on July 23, 2014, holders of Series A and Series B Liberty Media Corporation common stock received a dividend of two shares of Series C Liberty Media Corporation common stock for each share of Series A or Series B Liberty Media Corporation common stock held by them as of July 7, 2014. Series A Liberty SiriusXM, Liberty Braves and Liberty Formula One common stock have one vote per share, Series B Liberty SiriusXM, Liberty Braves and Liberty Formula One common stock have ten votes per share and Series C Liberty SiriusXM, Liberty Braves and Liberty Formula One common stock have no votes per share except as otherwise required by Delaware law. Each share of Series B common stock is exchangeable at the option of the holder for one share of Series A common stock of the same group. All series of our common stock participate on an equal basis with respect to dividends and distributions. Purchases of Common Stock During the year ended December 31, 2015, the Company repurchased 9.2 million shares of Series A and Series C Liberty Media Corporation common stock for aggregate cash consideration of $350 million under the authorized repurchase program. All of the foregoing shares obtained have been retired and returned to the status of authorized and available for issuance. There were no repurchases of Liberty common stock made pursuant to the Company’s authorized repurchase program during the years ended December 31, 2016 and 2017. Dividends Declared by Subsidiary On October 26, 2016, SIRIUS XM’S board of directors declared the first quarterly dividend on SIRIUS XM common stock in the amount of $0.01 per share of common stock to stockholders of record on November 9, 2016. The dividend was paid in cash on November 30, 2016 in the amount of $48 million, of which Liberty received $32 million. During the year ended December 31, 2017, SIRIUS XM declared a cash dividend each quarter, and has paid in cash an aggregate amount of $190 million, of which Liberty has received $130 million. SIRIUS XM’s board of directors expects to declare regular quarterly dividends, in an aggregate annual amount of $0.044 per share of common stock. On January 23, 2018, SIRIUS XM’s board of directors declared a quarterly dividend on its common stock in the amount of $0.011 per share of common stock, payable on February 28, 2018 to stockholders of record at the close of business on February 7, 2018.

Related Party Transactions with

Related Party Transactions with Officers and Directors	12 Months Ended
	Dec. 31, 2017
Related Party Transactions with Officers and Directors
Related Party Transactions with Officers and Directors	(13) Related Party Transactions with Officers and Directors Chief Executive Officer Compensation Arrangement In December 2014, the Compensation Committee (the “Committee”) of Liberty approved a compensation arrangement, including term options as discussed in note 14, for its President and Chief Executive Officer (the “CEO”). The arrangement provides for a five year employment term which began on January 1, 2015 and ends December 31, 2019, with an annual base salary of $960,750, increasing annually by 5% of the prior year’s base salary, and an annual target cash bonus equal to 250% of the applicable year’s annual base salary. The arrangement also provides that, in the event the CEO is terminated for “cause,” 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 term options. If, however, the CEO is terminated by Liberty without cause or if he terminates his employment for “good reason,” he will be entitled to his accrued base salary, his accrued but unpaid bonus and any amounts due under applicable law, a severance payment of 1.5 times his base salary during the year of his termination, a payment equal to $11,750,000 pro rated based upon the elapsed number of days in the calendar year of termination, a payment equal to $17.5 million, and his unvested term options will generally 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. If, however, the CEO terminates his employment without “good reason,” he will be entitled to his accrued base salary, his accrued but unpaid bonus and any amounts due under applicable law, a payment equal to $11,750,000 pro rated based upon the elapsed number of days in the calendar year of termination, and for his unvested term options to generally vest pro rata based on the portion of the term elapsed through the termination date and 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, he is entitled to his accrued base salary, his accrued but unpaid bonus and any amounts due under applicable law, a payment of 1.5 times his base salary during the year of his termination, a payment equal to $11,750,000 pro rated based upon the elapsed number of days in the calendar year of termination, a payment equal to $17.5 million, and for his unvested term options to fully vest and for his vested and accelerated term options to remain exercisable until their respective expiration dates. Beginning in 2015, the CEO receives annual performance-based options to purchase shares of Series C Liberty Formula One common stock with a term of 7 years (the “Performance Options”) and performance-based restricted stock units with respect to Series C Liberty Formula One common stock (the “Performance RSUs” and together with the Performance Options, the “Performance Awards”) during the employment term. Grants of Performance Awards will be allocated between Liberty and Liberty Interactive. The aggregate target amount to be allocated between Liberty and Liberty Interactive will be $16 million with respect to calendar year 2015, $17 million with respect to calendar year 2016, $18 million with respect to calendar year 2017, $19 million with respect to calendar year 2018 and $20 million with respect to calendar year 2019. Vesting of the Performance Awards will be determined based on satisfaction of performance metrics that will be set by Liberty and Liberty Interactive’s respective compensation committees in the first quarter of each applicable year, except that the CEO will forfeit his unvested Performance Awards if his employment is terminated for any reason before the end of the applicable year, except that the CEO will forfeit his unvested Performance Awards if his employment is terminated for any reason before the end of the applicable year. In addition, Liberty and Liberty Interactive’s compensation committees may grant additional Performance Awards, with a value of up to 50% of the target amount allocated to Liberty for the relevant year (the “Above Target Awards”), and the compensation committees may determine to establish additional performance metrics with respect to such Above Target Awards. Salary compensation related to services provided by the CEO is charged from Liberty to Liberty TripAdvisor and Liberty Broadband pursuant to the Services Agreements with each respective company. Any cash bonus attributable to the performance of Liberty or Liberty Interactive is paid directly by each respective company. 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 under the 8% Plan aggregated approximately $2.4 million at December 31, 2008. Under the second plan (the “13% Plan”), compensation was deferred by the Chairman from 1982 until December 31, 1992 and accrues interest at the rate of 13% per annum compounded annually from the applicable date of deferral. The amount owed to the Chairman under the 13% Plan aggregated approximately $20 million at December 31, 2008. Both deferred compensation plans had provided for payment of the amounts owed to him in 240 monthly installments beginning upon termination of his employment. Under his salary continuation plan, the Chairman would have been entitled to receive $15,000 (increased at the rate of 12% per annum compounded annually from January 1, 1998 to the date of the first payment, (the “Base Amount”) per month for 240 months beginning upon termination of his employment. The amount owed to the Chairman under the salary continuation plan aggregated approximately $39 million at December 31, 2008. There is no further accrual of interest under the salary continuation plan once payments have begun. The Committee determined to modify all three plans and began making payments to the Chairman in 2009, while he remains employed by the Company. By commencing payments under the salary continuation plan, interest ceased to accrue on the Base Amount. As a result of these modifications, the Chairman will receive 240 equal monthly installments as follows: (1) approximately $20,000 under the 8% Plan; (2) approximately $237,000 under the 13% Plan; and (3) approximately $164,000 under the salary continuation plan. The Committee also approved certain immaterial amendments to the Chairman’s employment agreement intended to comply with Section 409A of the Internal Revenue Code.

Stock-Based Compensation

Stock-Based Compensation	12 Months Ended
	Dec. 31, 2017
Stock-Based Compensation
Stock-Based Compensation	(14) Stock-Based Compensation Liberty—Incentive Plans Pursuant to the Liberty Media Corporation 2017 Omnibus Incentive Plan (the “2017 Plan”), the company may grant Awards to purchase shares of Series A, Series B and Series C Liberty Media Corporation common stock. The 2017 Plan provides for Awards to be made in respect of a maximum of 50.0 million shares of Liberty Media Corporation 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. The Company measures the cost of employee services received in exchange for an Award of equity instruments (such as stock options and restricted stock) based on the grant-date fair value (“GDFV”) of the Award, and recognizes that cost over the period during which the employee is required to provide service (usually the vesting period of the Award). In connection with the Recapitalization during 2016, all outstanding Awards with respect to Liberty Media Corporation common stock (“Liberty Awards”) were adjusted pursuant to the anti-dilution provisions of the incentive plans under which the equity awards were granted, such that a holder of a Liberty Award received new corresponding equity awards relating to shares of one or more series of Liberty SiriusXM common stock, Liberty Braves common stock and Liberty Formula One common stock (collectively, the “Adjusted Liberty Awards”). All of the pre-Recapitalization value of the Liberty Awards was allocated among the Adjusted Liberty Awards. Liberty—Grants of stock options Awards granted in 2017, 2016 and 2015 are summarized as follows: Years ended December 31, 2017 2016 2015 Options Weighted Options Weighted Options Weighted granted average granted average granted average (000's) GDFV (000's) GDFV (000's) GDFV Series C Liberty Media Corporation common stock, Liberty employees and directors (1) NA NA 10 $ 8.33 2,056 $ 13.62 Series C Liberty Media Corporation common stock, Liberty CEO (2) NA NA 775 $ 8.91 420 $ 12.15 Series C Liberty SiriusXM common stock, Liberty employees and directors (1) 263 $ 10.39 $ NA NA Series C Liberty SiriusXM common stock, Liberty CEO (3) 920 $ 8.50 NA NA NA NA Series C Liberty Formula One common stock, Liberty employees and directors (1) 153 $ 9.42 $ NA NA Series C Liberty Formula One common stock, Liberty CEO (3) 171 $ 8.96 NA NA NA NA Series C Liberty Formula One common stock, Formula 1 employees (4) 2,015 $ 8.16 NA NA NA NA Series C Liberty Braves common stock, Liberty employees and directors (1) 35 $ 6.14 $ NA NA Series C Liberty Braves common stock, Liberty CEO (3) 149 $ 6.02 NA NA NA NA (1) Mainly vests between three and five years for employees and in one year for directors. (2) Grant in 2016 cliff vested in December 2016; grant in 2015 cliff vested in March 2016. Grants were made in connection with the CEO’s employment agreement. (3) Grants in 2017 mainly cliff vested in December 2017. (4) Vest monthly over one year. In addition to the stock option grants to the Liberty CEO, and in connection with his employment agreement, Liberty granted performance-based restricted stock units (“RSUs”). During the year ended December 31, 2017, Liberty granted 50 thousand RSUs of Series C Liberty Formula One common stock with a GDFV of $33.92 per share. During the years ended December 31, 2016 and 2015, Liberty granted 39 thousand RSUs and 34 thousand RSUs, respectively, of Series C Liberty Media Corporation common stock. Such RSUs had a GDFV of $37.76 per share and $38.20 per share, respectively. The 2017, 2016 and 2015 performance-based RSUs cliff vested in one year, subject to the satisfaction of certain performance objectives and based on an amount determined by the compensation committee. Performance objectives, which are subjective, are considered in determining the timing and amount of the compensation expense recognized. As the satisfaction of the performance objectives becomes probable, the Company records compensation expense. The value of the grant is remeasured at each reporting period. The Company did not grant any options to purchase Series A or Series B of Liberty SiriusXM, Liberty Braves or Liberty Formula One common stock during the year ended December 31, 2017. The Company has calculated the GDFV for all of its equity classified awards using the Black-Scholes Model. The Company estimates the expected term of the Awards based on historical exercise and forfeiture data. For grants made in 2017, 2016 and 2015, the range of expected terms was 3.5 to 6.7 years. The volatility used in the calculation for Awards is based on the historical volatility of Liberty’s stocks and the implied volatility of publicly traded Liberty options. The Company uses a zero dividend rate and the risk-free rate for Treasury Bonds with a term similar to that of the subject options. The following table presents the volatilities used by the Company in the Black-Scholes Model for the 2017, 2016 and 2015 grants. Volatility 2017 grants Liberty options % - % 2016 grants Liberty options % - % 2015 grants Liberty options % - % Liberty—Outstanding Awards The following table presents the number and weighted average exercise price (“WAEP”) of Awards to purchase Liberty common stock granted to certain officers, employees and directors of the Company, as well as the weighted average remaining life and aggregate intrinsic value of the Awards. Liberty SiriusXM Series A Weighted Aggregate average intrinsic Liberty remaining value Awards (000's) WAEP life (in millions) Outstanding at January 1, 2017 2,018 $ 19.39 Granted — $ — Exercised (392) $ 17.74 Forfeited/Cancelled — $ — Outstanding at December 31, 2017 1,626 $ 19.78 2.0 years $ 32 Exercisable at December 31, 2017 1,615 $ 19.73 2.0 years $ 32 Series C Weighted Aggregate average intrinsic Liberty remaining value Awards (000's) WAEP life (in millions) Outstanding at January 1, 2017 11,008 $ 25.91 Granted 1,183 $ 37.65 Exercised (810) $ 18.14 Forfeited/Cancelled (53) $ 32.74 Outstanding at December 31, 2017 11,328 $ 27.66 4.1 years $ 136 Exercisable at December 31, 2017 5,882 $ 25.77 3.6 years $ 82 Liberty Formula One Series A Weighted Aggregate average intrinsic Liberty remaining value Awards (000's) WAEP life (in millions) Outstanding at January 1, 2017 455 $ 11.55 Granted — $ — Exercised (55) $ 10.55 Forfeited/Cancelled — $ — Outstanding at December 31, 2017 400 $ 11.69 2.0 years $ 8 Exercisable at December 31, 2017 397 $ 11.66 2.0 years $ 8 Series C Weighted Aggregate average intrinsic Liberty remaining value Awards (000's) WAEP life (in millions) Outstanding at January 1, 2017 2,611 $ 15.18 Granted 2,339 $ 34.04 Exercised (177) $ 11.08 Forfeited/Cancelled (13) $ 19.78 Outstanding at December 31, 2017 4,760 $ 24.59 5.0 years $ 46 Exercisable at December 31, 2017 2,380 $ 24.42 4.7 years $ 23 Liberty Braves Series A Weighted Aggregate average intrinsic Liberty remaining value Awards (000's) WAEP life (in millions) Outstanding at January 1, 2017 189 $ 11.30 Granted — $ — Exercised (10) $ 8.83 Forfeited/Cancelled — $ — Outstanding at December 31, 2017 179 $ 11.43 2.0 years $ 2 Exercisable at December 31, 2017 178 $ 11.41 2.0 years $ 2 Series C Weighted Aggregate average intrinsic Liberty remaining value Awards (000's) WAEP life (in millions) Outstanding at January 1, 2017 1,073 $ 14.92 Granted 184 $ 23.37 Exercised (21) $ 9.05 Forfeited/Cancelled (5) $ 19.01 Outstanding at December 31, 2017 1,231 $ 16.27 4.1 years $ 8 Exercisable at December 31, 2017 686 $ 15.71 3.7 years $ 5 There were no outstanding Series B options to purchase shares of Series B Liberty SiriusXM common stock, Liberty Formula One common stock or Liberty Braves common stock during 2017. As of December 31, 2017, the total unrecognized compensation cost related to unvested Liberty Awards was approximately $30 million. Such amount will be recognized in the Company’s consolidated statements of operations over a weighted average period of approximately 1.7 years. As of December 31, 2017, 13.0 million, 5.2 million and 1.4 million shares of Series A and Series C Liberty SiriusXM, Liberty Formula One and Liberty Braves common stock, respectively, were reserved for issuance under exercise privileges of outstanding stock Awards. Liberty—Exercises The aggregate intrinsic value of all options exercised during the years ended December 31, 2017, 2016 and 2015 was $31 million, $24 million and $40 million, respectively. Liberty—Restricted Stock The Company had approximately 229 thousand, 137 thousand and 26 thousand unvested restricted shares of Liberty SiriusXM, Liberty Formula One, and Liberty Braves common stock, respectively, held by certain directors, officers and employees of the Company as of December 31, 2017. These Series A and Series C unvested restricted shares of Liberty SiriusXM common stock, Liberty Formula One common stock and Liberty Braves common stock had a weighted average GDFV of $25.30, $28.43, and $17.04 per share, respectively. The aggregate fair value of all restricted shares of Liberty common stock that vested during the years ended December 31, 2017, 2016 and 2015 was $85 million, $7 million and $2 million, respectively. SIRIUS XM—Stock-based Compensation During the year ended December 31, 2017, SIRIUS XM granted stock options and restricted stock units (“RSUs”) to its employees and members of its board of directors. During the years ended December 31, 2017 and 2016, SIRIUS XM also granted performance-based restricted stock units (“PRSUs”) to certain employees, the vesting of which is subject to the employee’s continuing employment and SIRIUS XM’s achievement of certain performance goals. The PRSUs awards cliff vest on the three-year anniversary of the grant date. SIRIUS XM also calculates 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 weighted average volatility applied to the fair value determination of SIRIUS XM’s option grants during 2017, 2016 and 2015 was 24%, 22% and 29%, respectively. During the year ended December 31, 2017, SIRIUS XM granted approximately 27.3 million stock options with a weighted-average exercise price of $5.49 per share and a grant date fair value of $1.17 per share. As of December 31, 2017, SIRIUS XM has approximately 280.5 million options outstanding of which approximately 131 million are exercisable, each with a weighted-average exercise price per share of $3.76 and $3.23, respectively. The aggregate intrinsic value of these outstanding and exercisable options was $454 million and $279.1 million, respectively. During the year ended December 31, 2017, SIRIUS XM granted approximately 11.7 million RSUs and PRSUs with a grant date fair value of $5.35 per share. The stock-based compensation related to SIRIUS XM stock options and restricted stock awards was $124 million, $109 million and $157 million for the years ended December 31, 2017, 2016, and 2015, respectively. As of December 31, 2017, the total unrecognized compensation cost related to unvested SIRIUS XM stock options was $242 million. The SIRIUS XM unrecognized compensation cost will be recognized in the Company’s consolidated statements of operations over a weighted average period of approximately 2.5 years.

Employee Benefit Plans

Employee Benefit Plans	12 Months Ended
	Dec. 31, 2017
Employee Benefit Plans
Employee Benefit Plans	(15) 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 $17 million, $13 million and $15 million for each of the years ended December 31, 2017, 2016 and 2015, respectively.

Other Comprehensive Earnings (l

Other Comprehensive Earnings (loss)	12 Months Ended
	Dec. 31, 2017
Other Comprehensive Earnings (Loss)
Other Comprehensive Earnings (Loss)	(16) Other Comprehensive Earnings (Loss) Accumulated other comprehensive earnings (loss) included in Liberty’s consolidated balance sheets and consolidated statements of equity reflect 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: Unrealized Foreign holding currency gains (losses) translation on securities adjustment Other AOCI amounts in millions Balance at January 1, 2015 $ (10) — (11) (21) Other comprehensive earnings (loss) attributable to Liberty stockholders — (23) (7) (30) Balance at December 31, 2015 (10) (23) (18) (51) Other comprehensive earnings (loss) attributable to Liberty stockholders 1 1 (13) (11) Balance at December 31, 2016 (9) (22) (31) (62) Other comprehensive earnings (loss) attributable to Liberty stockholders (3) 16 14 27 Balance at December 31, 2017 $ (12) (6) (17) (35) 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, 2017: Unrealized holding gains (losses) on securities arising during period $ (5) 2 (3) Foreign currency translation adjustments 60 (22) 38 Other comprehensive earnings $ 55 (20) 35 Year ended December 31, 2016: Foreign currency translation adjustments $ (16) 6 (10) Other comprehensive earnings $ (16) 6 (10) Year ended December 31, 2015: Foreign currency translation adjustments $ (77) 28 (49) Other comprehensive earnings $ (77) 28 (49)

Commitments And Contingencies

Commitments And Contingencies	12 Months Ended
	Dec. 31, 2017
Commitments and Contingencies
Commitments And Contingencies	(17) Commitments and Contingencies Guarantees In connection with agreements for the sale of assets by the Company or its subsidiaries, the Company may retain liabilities that relate to events occurring prior to its sale, such as tax, environmental, litigation and employment matters. The Company generally indemnifies the purchaser in the event that a third party asserts a claim against the purchaser that relates to a liability retained by the Company. These types of indemnification obligations may extend for a number of years. The Company is unable to estimate the maximum potential liability for these types of indemnification obligations as the sale agreements may not specify a maximum amount and the amounts are dependent upon the outcome of future contingent events, the nature and likelihood of which cannot be determined at this time. Historically, the Company has not made any significant indemnification payments under such agreements and no amount has been accrued in the accompanying consolidated financial statements with respect to these indemnification guarantees. Employment Contracts The Atlanta Braves and certain of their players and coaches have entered into long-term employment contracts whereby such individuals’ compensation is guaranteed. Amounts due under guaranteed contracts as of December 31, 2017 aggregated $234 million, which is payable as follows: $121 million in 2018, $45 million in 2019, $32 million in 2020, $34 million in 2021, $2 million in 2022 and none thereafter. In addition to the foregoing amounts, certain players and coaches may earn incentive compensation under the terms of their employment contracts. Leases The Company leases business offices, has entered into satellite transponder lease agreements and uses certain equipment under lease arrangements. These leases provide for minimum lease payments, additional operating expense charges, leasehold improvements and rent escalations, and certain leases have options to renew. The effect of the rent holidays and rent concessions are recognized on a straight-line basis over the lease term, including reasonably assured renewal periods. Rental expense under such agreements amounted to $58 million, $52 million and $53 million for the years ended December 31, 2017, 2016 and 2015, respectively. A summary of future minimum lease payments under cancelable and noncancelable operating leases, as of December 31, 2017 follows (amounts in millions): Years ending December 31: 2018 $ 48 2019 $ 50 2020 $ 46 2021 $ 39 2022 $ 32 Thereafter $ 165 It is expected that in the normal course of business, leases that expire generally will be renewed or replaced by leases on other properties; thus, it is anticipated that future lease commitments will not be less than the amount shown for 2017. Braves Holdings provided funding for the new stadium and the land during the initial construction period, until the initial reimbursement by the Authority in September 2015, at which time the land was conveyed to the Authority. Braves Holdings was deemed the owner (for accounting purposes) of the stadium during the construction period and costs were classified as construction in progress (“CIP”), within the Property and equipment, net line item. Costs of the project were captured in CIP along with a corresponding financing obligation, reported in other liabilities, for amounts funded by the Authority. At the end of the construction period in March 2017, the Company performed an analysis and determined that due to Braves Holdings’ continuing involvement with the property as a result of the purchase option at the end of the lease term, the stadium did not qualify for sale-leaseback accounting treatment. Accordingly, Braves Holdings applied the financing method of accounting whereby Braves Holdings began making license payments and amortizing the financing obligation to the Authority using the effective interest rate method over a 30 year term. The stadium was reclassified from CIP and placed into service on March 31, 2017. Also at this time, Braves Holdings began depreciating the stadium over a 45 year estimated useful life. Programming and content SIRIUS XM has entered into various programming agreements under which SIRIUS XM’s obligations include fixed payments, advertising commitments and revenue sharing arrangements. Amounts due under such agreements are payable as follows: $331 million in 2018, $306 million in 2019, $259 million in 2020, $175 million in 2021 and $52 million in 2022. Future revenue sharing costs are dependent upon many factors and are difficult to estimate; therefore, they are not included in the amounts above. Litigation The Company has contingent liabilities related to legal and tax proceedings and other matters arising in the ordinary course of business. We record a liability when we believe that it is both probable that a liability will be incurred and the amount of loss can be reasonably estimated. We evaluate developments in legal matters that could affect the amount of the liability accrual and make adjustments as appropriate. Significant judgment is required to determine both probability and the estimated amount of a loss or potential loss. We may be unable to reasonably estimate the reasonably possible loss or range of loss for a particular legal contingency for various reasons, including, among others, because: (i) the damages sought are indeterminate; (ii) the proceedings are in the relative early stages; (iii) there is uncertainty as to the outcome of pending proceedings (including motions and appeals); (iv) there is uncertainty as to the likelihood of settlement and the outcome of any negotiations with respect thereto; (v) there remain significant factual issues to be determined or resolved; (vi) the relevant law is unsettled; or (vii) the proceedings involve novel or untested legal theories. In such instances, there may be considerable uncertainty regarding the ultimate resolution of such matters, including a possible eventual loss, if any. In the opinion of management, it is expected that amounts, if any, which may be required to satisfy such contingencies will not be material in relation to the accompanying consolidated financial statements. In connection with a commercial transaction that closed during 2002 among Liberty, Vivendi Universal S.A. (“Vivendi”) and the former USA Holdings, Inc., Liberty brought suit against Vivendi and Universal Studios, Inc. in the United States District Court for the Southern District of New York, alleging, among other things, breach of contract and fraud by Vivendi. On June 25, 2012, a jury awarded Liberty damages in the amount of €765 million, plus prejudgment interest, in connection with a finding of breach of contract and fraud by the defendants. On January 17, 2013, the court entered judgment in favor of Liberty in the amount of approximately €945 million, including prejudgment interest. The parties negotiated a stay of the execution of the judgment during the pendency of the appeal. Vivendi filed notice of its appeal of the judgment to the United States Court of Appeals for the Second Circuit. During the first quarter of 2016, Liberty entered into a settlement with Vivendi which resulted in a $775 million payment to settle all claims related to the dispute described above. Following the payment of a contingency fee to our legal counsel, as well as amounts payable to Liberty Global plc, an additional plaintiff in the action, Liberty recognized a net pre-tax gain on the legal settlement of approximately $511 million. This settlement resulted in a dismissal of all appeals and mutual releases of the parties. In August 2013, SoundExchange, Inc. (“SoundExchange”) filed a complaint in the United States District Court for the District of Columbia (“SoundExchange I”) alleging that SIRIUS XM underpaid royalties for statutory licenses in violation of the regulations established by the Copyright Royalty Board (“CRB”) for the 2007-2012 period. SoundExchange principally alleges that SIRIUS XM improperly reduced its gross revenue subject to royalties by improperly deducting revenue attributable to pre-1972 recordings and Premier package revenue that is not “separately charged” as required by the regulations. SIRIUS XM believes that it properly applied the gross revenue exclusions contained in the regulations established by the CRB. SoundExchange is seeking compensatory damages of not less than $50 million and up to $100 million or more, payment of late fees and interest, and attorneys’ fees and costs. In August 2014, the United States District Court for the District of Columbia in response to SIRIUS XM’s motion to dismiss the complaint, stayed the case on the grounds that the case properly should be pursued in the first instance before the CRB rather than the District Court. In its opinion, the District Court concluded that the gross revenue exclusions in the regulations established by the CRB for the 2007-2012 period were ambiguous and did not, on their face, make clear whether SIRIUS XM’s royalty calculation approaches were permissible under the regulations. In December 2014, SoundExchange filed a petition with the CRB requesting an order interpreting the applicable regulations. On September 11, 2017, the CRB issued a ruling concluding that SIRIUS XM correctly interpreted the revenue exclusions applicable to pre-1972 recordings. Given the limitations on its jurisdiction, the CRB deferred to further proceedings in the District Court the question of whether SIRIUS XM properly applied those pre-1972 revenue exclusions when calculating its royalty payments. The Judges also concluded that SIRIUS XM improperly claimed a revenue exclusion based on its Premier package upcharge, because, in the Judges’ view, the portion of the package that contained programming that did not include sound recordings was not offered for a “separate charge.” SIRIUS XM has filed a notice of appeal of this ruling to the United States Court of Appeals for the District of Columbia Circuit. SIRIUS XM expects that the ruling by the CRB in this matter will be transmitted back to the District Court for further proceedings, such as adjudication of claims relating to damages and defenses, although those proceedings may be delayed pending the appeal of the Judges’ interpretative decision. SIRIUS XM believes it has substantial defenses to those SoundExchange claims that can be asserted, including in proceedings in the District Court, and will continue to defend this action vigorously. This matter is captioned SoundExchange, Inc. v. Sirius XM Radio, Inc. , No. 13-cv-1290-RJL (D.D.C.); the Copyright Royalty Board referral was adjudicated under the caption Determination of Rates and Terms for Preexisting Subscription Services and Satellite Digital Audio Radio Services , United States Copyright Royalty Board, No. 2006-1 CRB DSTRA. Information concerning SoundExchange I is publicly available in filings under the docket numbers. On December 12, 2017, SoundExchange filed a second action against SIRIUS XM under the Copyright Act in the United States District Court for the District of Columbia (“SoundExchange II”). This action includes claims that SoundExchange has also attempted to add to the SoundExchange I litigation through a proposed amended complaint. SoundExchange alleges that SIRIUS XM has systematically underpaid it for SIRIUS XM’s statutory license by impermissibly understating SIRIUS XM’s gross revenue, as defined in the applicable regulations and, in certain cases, understating the compensable performances of recordings on SIRIUS XM’s internet radio service. Specifically, the complaint in SoundExchange II alleges that: from at least 2013 through the present, SIRIUS XM improperly excluded from gross revenue a portion of SIRIUS XM’s revenue received from its Premier and All Access packages attributable to premium channels; at least between 2010 and 2012, SIRIUS XM improperly excluded late fees received from subscribers from the calculation of gross revenue; at least between 2010 and 2012, SIRIUS XM improperly excluded certain credits, adjustments and bad debt for which the underlying revenue had never been included in the first instance; at least between 2010 and 2012, SIRIUS XM improperly deducted from gross revenue certain transaction fees and other expenses—for instance, credit card processing fees, collection fees and sales and use taxes—that are not permitted by the CRB regulations; at least between 2010 and 2012, SIRIUS XM improperly deducted amounts attributable to performances of recordings claimed to be directly licensed on both SIRIUS XM’s satellite radio and internet radio services, even though they were not; at least between 2010 and 2012, SIRIUS XM improperly excluded from royalty calculations performances of recordings less than thirty seconds long under the provisions of the CRB regulations and the Webcaster Settlement Agreement; from 2010 through 2012, SIRIUS XM excluded from royalty calculations performances of songs on its internet radio services that SIRIUS XM claimed it was unable to identify; SIRIUS XM owes associated late fees for the previously identified underpayments under the applicable CRB regulations; and SIRIUS XM has underpaid SoundExchange by an amount exceeding 10% of the royalty payment and SIRIUS XM is therefore obligated to pay the reasonable costs of an audit. SIRIUS XM believes that it properly applied in all material respects the regulations established by the CRB. SoundExchange is seeking compensatory damages in an amount to be determined at trial from the alleged underpayments, unspecified late fees and penalties pursuant to the CRB’s regulations and the Webcaster Settlement Agreement and costs, including reasonable attorney fees and expenses. This matter is titled SoundExchange, Inc. v. Sirius XM Radio, Inc., No. 17-cv-02666-RJL (D.D.C.). Information concerning SoundExchange II is publicly available in filings under the docket number. As of December 31, 2017, SIRIUS XM concluded that a loss, in excess of its recorded liabilities, was considered remote in connection with SoundExchange I or SoundExchange II. The assumptions underlying SIRIUS XM’s conclusions may change from time to time and the actual loss may vary from the amounts recorded. In June 2015, SIRIUS XM settled (the “Capitol Settlement”) a separate suit brought by Capitol Records LLC (“Capitol Records”), Sony Music Entertainment, UMG Recordings, Inc., Warner Music Group Corp. and ABKCO Music & Records, Inc. relating to SIRIUS XM’s use and public performance of pre-1972 recordings for $210 million, which was paid during July 2015. The settling record companies claim to own, control or otherwise have the right to settle with respect to approximately 85% of the pre-1972 recordings SIRIUS XM has historically played. SIRIUS XM has also entered into certain direct licenses with other owners of pre-1972 recordings, which in many cases include releases of any claims associated with its use of pre-1972 recordings. SIRIUS XM recognized $108 million during June 2015 for the portion of the $210 million Capitol Settlement related to SIRIUS XM’s use of pre-1972 sound recordings for the periods prior to the Capitol Settlement during June 2015. The $108 million expense is included in the Revenue share and royalties line item in the accompanying consolidated financial statements for the year ended December 31, 2015 but has been excluded from Adjusted OIBDA for the corresponding period as this expense was not incurred as a part of the Company’s normal operations for the period, and this lump sum amount does not relate to the on-going performance of the business. SIRIUS XM recognized approximately $43 million, $40 million and $19 million to Revenue share and royalties within the consolidated statement of operations with respect to the Capitol Settlement subsequent to the settlement date related to SIRIUS XM’s use of pre-1972 sound recordings during the years ended December 31, 2017, 2016 and 2015, respectively, and is included as a component of Adjusted OIBDA. Additionally, during the fourth quarters of 2017 and 2016, SIRIUS XM recorded $45 million and $46 million, respectively, related to music royalty legal settlements and reserves. The expenses are included in the Revenue share and royalties line item in the accompanying consolidated financial statements for the years ended December 31, 2017 and 2016, respectively, but have been excluded from Adjusted OIBDA for the corresponding periods as these expense were not incurred as a part of the Company’s normal operations for the periods, and these lump sum amounts do not relate to the on-going performance of the business. On March 13, 2017, Thomas Buchanan, individually and on behalf of all others similarly situated, filed a class action complaint against SIRIUS XM in the United States District Court for the Northern District of Texas, Dallas Division. The plaintiff in this action alleges that SIRIUS XM violated the Telephone Consumer Protection Act of 1991 (the “TCPA”) by, among other things, making telephone solicitations to persons on the National Do-Not-Call registry, a database established to allow consumers to exclude themselves from telemarketing calls unless they consent to receive the calls in a signed, written agreement, and making calls to consumers in violation of SIRIUS XM’s internal Do-Not-Call registry. The plaintiff is seeking various forms of relief, including statutory damages of $500 for each violation of the TCPA or, in the alternative, treble damages of up to $1,500 for each knowing and willful violation of the TCPA and a permanent injunction prohibiting SIRIUS XM from making, or having made, any calls to land lines that are listed on the National Do-Not-Call registry or SIRIUS XM’s internal Do-Not-Call registry. SIRIUS XM believes it has substantial defenses to the claims asserted in this action, and intends to defend this action vigorously.

Information About Liberty's Ope

Information About Liberty's Operating Segments	12 Months Ended
	Dec. 31, 2017
Information About Liberty's Operating Segments
Information About Liberty's Operating Segments	(18) Information About Liberty’s Operating Segments The Company, through its ownership interests in subsidiaries and other companies, is primarily engaged in the media and entertainment industries. The Company identifies its reportable segments as (A) those consolidated subsidiaries that represent 10% or more of its consolidated annual revenue, annual Adjusted OIBDA or total assets and (B) those equity method affiliates whose share of earnings represent 10% or more of the Company’s annual pre-tax earnings. The segment presentation for prior periods has been conformed to the current period segment presentation, as discussed below. The Company evaluates performance and makes decisions about allocating resources to its operating segments based on financial measures such as revenue and Adjusted OIBDA. In addition, the Company reviews nonfinancial measures such as subscriber growth and penetration. The Company defines Adjusted OIBDA as revenue less operating expenses, and selling, general and administrative expenses (excluding stock-based compensation). The Company 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. The Company generally accounts for intersegment sales and transfers as if the sales or transfers were to third parties, that is, at current prices. The Company has identified the following subsidiaries as its reportable segments: · SIRIUS XM is a consolidated subsidiary that provides a subscription based satellite radio service. SIRIUS XM transmits music, sports, entertainment, comedy, talk, news, traffic and weather channels, as well as infotainment services, in the United States on a subscription fee basis through its two proprietary satellite radio systems—the Sirius system and the XM system. Subscribers can also receive music and other channels, plus features such as SiriusXM On Demand, over SIRIUS XM’s Internet radio service, including through applications for mobile devices, home devices and other consumer electronic equipment. SIRIUS XM also provides connected vehicle services. SIRIUS XM’s connected vehicle services are designed to enhance the safety, security and driving experience for vehicle operators while providing marketing and operational benefits to automakers and their dealers. · Formula 1 is a global motorsports business that holds exclusive commercial rights with respect to the World Championship, an annual, approximately nine-month long, motor race-based competition in which teams compete for the Constructors’ Championship and drivers compete for the Drivers’ Championship. The World Championship takes place on various circuits with a varying number of events taking place in different countries around the world each season. Formula 1 is responsible for the commercial exploitation and development of the World Championship as well as various aspects of its management and administration. The Company acquired a controlling interest in Formula 1 on January 23, 2017, at which time it began consolidating the results of the Formula 1 business. The Company’s reportable segments are strategic business units that offer different products and services. They are managed separately because each segment requires different technologies, distribution channels and marketing strategies. The accounting policies of the segments that are also consolidated subsidiaries are the same as those described in the Company’s summary of significant policies. Performance Measures Years ended December 31, 2017 2016 2015 Adjusted Adjusted Adjusted Revenue OIBDA Revenue OIBDA Revenue OIBDA amounts in millions Liberty SiriusXM Group SIRIUS XM $ 5,425 2,109 5,014 1,853 4,552 1,660 Corporate and other — (15) — (15) — — Total Liberty SiriusXM Group 5,425 2,094 5,014 1,838 4,552 1,660 Braves Group Corporate and other 386 2 262 (20) 243 3 Total Braves Group 386 2 262 (20) 243 3 Formula One Group Formula 1 1,783 438 — — — — Corporate and other — (41) — (45) — (35) Total Formula One Group 1,783 397 — (45) — (35) Total $ 7,594 2,493 5,276 1,773 4,795 1,628 Other Information December 31, 2017 December 31, 2016 Total Investments Capital Total Investments Capital assets in affiliates expenditures assets in affiliates expenditures amounts in millions Liberty SiriusXM Group SIRIUS XM $ 27,837 672 288 26,978 164 206 Corporate and other 693 — — 73 — — Total Liberty SiriusXM Group 28,530 672 288 27,051 164 206 Braves Group Corporate and other 1,866 145 219 1,548 61 360 Total Braves Group 1,866 145 219 1,548 61 360 Formula One Group Formula 1 9,461 — 8 NA NA NA Corporate and other 2,341 933 2 2,995 892 2 Total Formula One Group 11,802 933 10 2,995 892 2 Elimination (1) (202) — — (217) — — Consolidated Liberty $ 41,996 1,750 517 31,377 1,117 568 (1) This is primarily the intergroup interest in the Braves Group held by the Formula One Group, as discussed in note 2. The intergroup interest attributable to the Formula One Group is presented as an asset and the intergroup interest attributable to the Braves Group is presented as a liability in the attributed financial statements and the offsetting amounts between tracking stock groups are eliminated in consolidation. The following table provides a reconciliation of consolidated segment Adjusted OIBDA to earnings (loss) from continuing operations before income taxes: Years ended December 31, 2017 2016 2015 amounts in millions Consolidated segment Adjusted OIBDA $ 2,493 1,773 1,628 Legal settlement (note 17) (45) 465 (108) Stock-based compensation (230) (150) (204) Depreciation and amortization (824) (354) (362) Operating income (loss) 1,394 1,734 954 Interest expense (591) (362) (328) Share of earnings (losses) of affiliates, net 104 14 (40) Realized and unrealized gains (losses) on financial instruments, net (88) 37 (140) Other, net 8 (4) 12 Earnings (loss) from continuing operations before income taxes $ 827 1,419 458 Revenue by Geographic Area Revenue by geographic area based on the country of domicile is as follows: Years ended December 31, 2017 2016 2015 amounts in millions United States $ 5,724 5,230 4,739 United Kingdom 1,783 — — Other 87 46 56 $ 7,594 5,276 4,795 Long-lived Assets by Geographic Area December 31, 2017 2016 amounts in millions United States $ 2,529 2,352 United Kingdom 12 — $ 2,541 2,352

Quarterly Financial Information

Quarterly Financial Information	12 Months Ended
	Dec. 31, 2017
Quarterly Financial Information (Unaudited)
Quarterly Financial Information (Unaudited)	(19) Quarterly Financial Information (Unaudited) 1st 2nd 3rd 4th Quarter Quarter Quarter Quarter amounts in millions, except per share amounts 2017: Revenue $ 1,395 2,140 2,065 1,994 Operating income (loss) $ 259 422 382 331 Net earnings (loss) $ 44 156 261 1,429 Net earnings (loss) attributable to Liberty stockholders: Liberty SiriusXM common stock $ 124 123 183 694 Liberty Braves common stock $ (49) (2) 22 4 Liberty Formula One common stock $ (96) (27) (37) 415 Basic net earnings (loss) attributable to Liberty stockholders per common share: Liberty SiriusXM common stock $ 0.37 0.37 0.54 2.07 Liberty Braves common stock $ (1.00) (0.04) 0.45 0.08 Liberty Formula One common stock $ (0.55) (0.13) (0.17) 1.80 Diluted net earnings (loss) attributable to Liberty stockholders per common share: Liberty SiriusXM common stock $ 0.37 0.36 0.54 2.04 Liberty Braves common stock $ (1.00) (0.04) 0.45 0.07 Liberty Formula One common stock $ (0.55) (0.13) (0.17) 1.79 1st 2nd 3rd 4th Quarter Quarter Quarter Quarter amounts in millions, except per share amounts 2016: Revenue $ 1,204 1,366 1,385 1,321 Operating income (loss) $ 781 328 352 273 Net earnings (loss) $ 427 142 169 186 Net earnings (loss) attributable to Liberty stockholders: Liberty Media Corporation common stock $ 364 13 NA NA Liberty SiriusXM common stock $ NA 82 96 119 Liberty Braves common stock $ NA 32 (22) (40) Liberty Formula One common stock $ NA (45) 41 40 Basic net earnings (loss) attributable to Liberty stockholders per common share: Liberty Media Corporation common stock $ 1.09 0.04 NA NA Liberty SiriusXM common stock $ NA 0.24 0.29 0.36 Liberty Braves common stock $ NA 0.89 (0.45) (0.82) Liberty Formula One common stock $ NA (0.54) 0.49 0.48 Diluted net earnings (loss) attributable to Liberty stockholders per common share: Liberty Media Corporation common stock $ 1.08 0.04 NA NA Liberty SiriusXM common stock $ NA 0.24 0.28 0.35 Liberty Braves common stock $ NA 0.11 (0.45) (0.82) Liberty Formula One common stock $ NA (0.54) 0.48 0.47

Financial Information for Track

Financial Information for Tracking Stock Groups	12 Months Ended
	Dec. 31, 2017
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Financial Information for Tracking Stock Groups	BALANCE SHEET INFORMATION December 31, 2017 (unaudited) Attributed (note 1) Liberty SiriusXM Braves Formula One Inter-Group Consolidated Group Group Group Eliminations Liberty amounts in millions Assets Current assets: Cash and cash equivalents $ 615 132 282 — 1,029 Trade and other receivables, net 242 32 84 — 358 Other current assets 207 56 113 — 376 Total current assets 1,064 220 479 — 1,763 Intergroup interest in the Braves Group (note 1) — — 202 (202) — Investments in available-for-sale securities and other cost investments (note 1) 580 8 526 — 1,114 Investments in affiliates, accounted for using the equity method (note 1) 672 145 933 — 1,750 Property and equipment, at cost 2,274 1,150 172 — 3,596 Accumulated depreciation (927) (51) (77) — (1,055) 1,347 1,099 95 — 2,541 Intangible assets not subject to amortization Goodwill 14,247 180 3,956 — 18,383 FCC licenses 8,600 — — — 8,600 Other 931 143 — — 1,074 23,778 323 3,956 — 28,057 Intangible assets subject to amortization, net 972 49 5,110 — 6,131 Other assets 117 22 501 — 640 Total assets $ 28,530 1,866 11,802 (202) 41,996 Liabilities and Equity Current liabilities: Intergroup payable (receivable) (note 4) $ 9 (39) 30 — — Accounts payable and accrued liabilities 934 58 258 — 1,250 Current portion of debt (note 1) 755 13 — — 768 Deferred revenue 1,882 51 8 — 1,941 Other current liabilities 3 8 9 — 20 Total current liabilities 3,583 91 305 — 3,979 Long-term debt (note 1) 6,741 649 5,796 — 13,186 Deferred income tax liabilities (note 3) 1,447 62 (31) — 1,478 Redeemable intergroup interest (note 1) — 202 — (202) — Other liabilities 283 435 61 — 779 Total liabilities 12,054 1,439 6,131 (202) 19,422 Equity / Attributed net assets 10,861 413 5,669 — 16,943 Noncontrolling interests in equity of subsidiaries 5,615 14 2 — 5,631 Total liabilities and equity $ 28,530 1,866 11,802 (202) 41,996 BALANCE SHEET INFORMATION December 31, 2016 (unaudited) Attributed (note 1) Liberty SiriusXM Braves Formula One Inter-Group Consolidated Group Group Group Eliminations Liberty amounts in millions Assets Current assets: Cash and cash equivalents $ 287 107 168 — 562 Trade and other receivables, net 223 15 2 — 240 Other current assets 206 17 5 (1) 227 Total current assets 716 139 175 (1) 1,029 Intergroup interest in the Braves Group (note 2) — — 187 (187) — Investments in available-for-sale securities and other cost investments (note 3) — 8 1,301 — 1,309 Investments in affiliates, accounted for using the equity method (note 4) 164 61 892 — 1,117 Property and equipment, at cost 2,079 943 160 — 3,182 Accumulated depreciation (746) (13) (71) — (830) 1,333 930 89 — 2,352 Intangible assets not subject to amortization Goodwill 14,165 180 — — 14,345 FCC licenses 8,600 — — — 8,600 Other 930 143 — — 1,073 23,695 323 — — 24,018 Intangible assets subject to amortization, net 998 73 1 — 1,072 Other assets 145 14 350 (29) 480 Total assets $ 27,051 1,548 2,995 (217) 31,377 Liabilities and Equity Current liabilities: Intergroup payable (receivable) (note 7) $ 5 (17) 12 — — Accounts payable and accrued liabilities 827 141 17 — 985 Current portion of debt (note 5) 5 — — — 5 Deferred revenue 1,833 44 — — 1,877 Other current liabilities 3 — 3 (1) 5 Total current liabilities 2,673 168 32 (1) 2,872 Long-term debt (note 5) 6,102 328 1,583 — 8,013 Deferred income tax liabilities 1,967 48 39 (29) 2,025 Redeemable intergroup interest (note 2) — 187 — (187) — Other liabilities 278 417 56 — 751 Total liabilities 11,020 1,148 1,710 (217) 13,661 Equity / Attributed net assets 10,085 385 1,286 — 11,756 Noncontrolling interests in equity of subsidiaries 5,946 15 (1) — 5,960 Total liabilities and equity $ 27,051 1,548 2,995 (217) 31,377 STATEMENT OF OPERATIONS INFORMATION December 31, 2017 (unaudited) Attributed (note 1) Liberty SiriusXM Braves Formula One Consolidated Group Group Group Liberty amounts in millions Revenue: Subscriber revenue $ 4,473 — — 4,473 Formula 1 revenue — — 1,783 1,783 Other revenue 952 386 — 1,338 Total revenue 5,425 386 1,783 7,594 Operating costs and expenses, including stock-based compensation (note 2): Cost of subscriber services (exclusive of depreciation shown separately below): Revenue share and royalties 1,210 — — 1,210 Programming and content 388 — — 388 Customer service and billing 385 — — 385 Other 119 — — 119 Cost of Formula 1 revenue — — 1,219 1,219 Subscriber acquisition costs 499 — — 499 Other operating expenses 113 281 — 394 Selling, general and administrative 812 151 199 1,162 Depreciation and amortization 352 67 405 824 3,878 499 1,823 6,200 Operating income (loss) 1,547 (113) (40) 1,394 Other income (expense): Interest expense (356) (15) (220) (591) Share of earnings (losses) of affiliates, net 29 78 (3) 104 Unrealized gain/(loss) on inter-group interest — (15) 15 — Realized and unrealized gains (losses) on financial instruments, net (16) — (72) (88) Other, net (11) 3 16 8 (354) 51 (264) (567) Earnings (loss) before income taxes 1,193 (62) (304) 827 Income tax (expense) benefit (note 3) 466 36 561 1,063 Net earnings (loss) 1,659 (26) 257 1,890 Less net earnings (loss) attributable to the noncontrolling interests 535 (1) 2 536 Net earnings (loss) attributable to Liberty stockholders $ 1,124 (25) 255 1,354 STATEMENT OF OPERATIONS INFORMATION December 31, 2016 (unaudited) Attributed (note 1) Liberty SiriusXM Braves Formula One Consolidated Group Group Group Liberty amounts in millions Revenue: Subscriber revenue $ 4,194 — — 4,194 Other revenue 820 262 — 1,082 Total revenue 5,014 262 — 5,276 Operating costs and expenses, including stock-based compensation (note 6): Cost of subscriber services (exclusive of depreciation shown separately below): Revenue share and royalties 1,109 — — 1,109 Programming and content 354 — — 354 Customer service and billing 387 — — 387 Other 144 — — 144 Subscriber acquisition costs 513 — — 513 Other operating expenses 82 224 — 306 Selling, general and administrative 761 67 58 886 Legal settlement, net — — (511) (511) Depreciation and amortization 312 32 10 354 3,662 323 (443) 3,542 Operating income (loss) 1,352 (61) 443 1,734 Other income (expense): Interest expense (342) (1) (19) (362) Share of earnings (losses) of affiliates, net 13 9 (8) 14 Unrealized gain/(loss) on inter-group interest — (27) 27 — Realized and unrealized gains (losses) on financial instruments, net — 1 36 37 Other, net (25) — 21 (4) (354) (18) 57 (315) Earnings (loss) before income taxes 998 (79) 500 1,419 Income tax (expense) benefit (341) 17 (171) (495) Net earnings (loss) 657 (62) 329 924 Less net earnings (loss) attributable to the noncontrolling interests 244 — — 244 Net earnings (loss) attributable to Liberty stockholders $ 413 (62) 329 680 STATEMENT OF OPERATIONS INFORMATION December 31, 2015 (unaudited) Attributed (note 1) Liberty SiriusXM Braves Formula One Consolidated Group Group Group Liberty amounts in millions Revenue: Subscriber revenue $ 3,807 — — 3,807 Other revenue 745 243 — 988 Total revenue 4,552 243 — 4,795 Operating costs and expenses, including stock-based compensation (note 6): Cost of subscriber services (exclusive of depreciation shown separately below): Revenue share and royalties 1,035 — — 1,035 Programming and content 267 — — 267 Customer service and billing 380 — — 380 Other 141 — — 141 Subscriber acquisition costs 533 — — 533 Other operating expenses 73 189 — 262 Selling, general and administrative 728 61 72 861 Depreciation and amortization 322 31 9 362 3,479 281 81 3,841 Operating income (loss) 1,073 (38) (81) 954 Other income (expense): Interest expense (307) (1) (20) (328) Share of earnings (losses) of affiliates, net (1) 9 (48) (40) Realized and unrealized gains (losses) on financial instruments, net — — (140) (140) Other, net — — 12 12 (308) 8 (196) (496) Earnings (loss) before income taxes 765 (30) (277) 458 Income tax (expense) benefit (322) 10 102 (210) Net earnings (loss) 443 (20) (175) 248 Less net earnings (loss) attributable to the noncontrolling interests 184 — — 184 Net earnings (loss) attributable to Liberty stockholders $ 259 (20) (175) 64 STATEMENT OF CASH FLOWS INFORMATION December 31, 2017 (unaudited) Attributed (note 1) Liberty SiriusXM Braves Formula One Consolidated Group Group Group Liberty amounts in millions Cash flows from operating activities: Net earnings (loss) $ 1,659 (26) 257 1,890 Adjustments to reconcile net earnings to net cash provided by operating activities: Depreciation and amortization 352 67 405 824 Stock-based compensation 150 48 32 230 Share of (earnings) loss of affiliates, net (29) (78) 3 (104) Unrealized (gains) losses on intergroup interest, net — 15 (15) — Realized and unrealized (gains) losses on financial instruments, net 16 — 72 88 Noncash interest expense 7 3 6 16 Losses (gains) on dilution of investment in affiliate — — (3) (3) Loss on early extinguishment of debt 35 5 8 48 Deferred income tax expense (benefit) (492) 2 (574) (1,064) Intergroup tax allocation (6) (39) 45 — Intergroup tax (payments) receipts 4 15 (19) — Other charges (credits), net (4) 18 (10) 4 Changes in operating assets and liabilities Current and other assets 30 (57) 77 50 Payables and other liabilities 127 (15) (359) (247) Net cash provided (used) by operating activities 1,849 (42) (75) 1,732 Cash flows from investing activities: Cash proceeds from dispositions of investments — 5 16 21 Net cash paid for the acquisition of Formula 1 — — (1,647) (1,647) Investments in and loans to cost and equity investees (851) (2) (9) (862) Capital expended for property and equipment (288) (219) (10) (517) Other investing activities, net (115) (5) (12) (132) Net cash provided (used) by investing activities (1,254) (221) (1,662) (3,137) Cash flows from financing activities: Borrowings of debt 4,553 544 1,600 6,697 Repayments of debt (3,216) (218) (1,673) (5,107) Proceeds from issuance of Series C Liberty Formula One common stock — — 1,938 1,938 Shares repurchased by subsidiary (1,409) — — (1,409) Cash dividends paid by subsidiary (60) — — (60) Taxes paid in lieu of shares issued for stock-based compensation (100) (30) (5) (135) Other financing activities, net (35) (8) (13) (56) Net cash provided (used) by financing activities (267) 288 1,847 1,868 Effect of foreign exchange rates on cash and cash equivalents — — 4 4 Net increase (decrease) in cash and cash equivalents 328 25 114 467 Cash and cash equivalents at beginning of period 287 107 168 562 Cash and cash equivalents at end of period $ 615 132 282 1,029 STATEMENT OF CASH FLOWS INFORMATION December 31, 2016 (unaudited) Attributed (note 1) Liberty SiriusXM Braves Formula One Consolidated Group Group Group Liberty amounts in millions Cash flows from operating activities: Net earnings (loss) $ 657 (62) 329 924 Adjustments to reconcile net earnings to net cash provided by operating activities: Depreciation and amortization 312 32 10 354 Stock-based compensation 128 9 13 150 Share of (earnings) loss of affiliates, net (13) (9) 8 (14) Unrealized (gains) losses on intergroup interest, net — 27 (27) — Realized and unrealized (gains) losses on financial instruments, net — (1) (36) (37) Noncash interest expense 6 5 — 11 Loss on early extinguishment of debt 24 — — 24 Deferred income tax expense (benefit) 332 1 94 427 Intergroup tax allocation (13) (19) 32 — Intergroup tax (payments) receipts 7 7 (14) — Other charges (credits), net 21 11 (2) 30 Changes in operating assets and liabilities Current and other assets 59 (17) (17) 25 Payables and other liabilities 184 105 (12) 277 Net cash provided (used) by operating activities 1,704 89 378 2,171 Cash flows from investing activities: Cash proceeds from dispositions of investments — — 62 62 Proceeds (payments) from settlement of financial instruments, net — — (1) (1) Investments in and loans to cost and equity investees — (20) (764) (784) Repayment of loans and other cash receipts from cost and equity investees — — 48 48 Capital expended for property and equipment (206) (360) (2) (568) Purchases of short term investments and other marketable securities — — (258) (258) Sales of short term investments and other marketable securities — — 273 273 Other investing activities, net (4) (33) 1 (36) Net cash provided (used) by investing activities (210) (413) (641) (1,264) Cash flows from financing activities: Borrowings of debt 1,847 460 438 2,745 Repayments of debt (1,471) (276) (2) (1,749) Intergroup (payments) receipts 58 16 (74) — Shares repurchased by subsidiary (1,674) — — (1,674) Braves Rights Offering — 203 — 203 Cash dividends paid by subsidiary (16) — — (16) Taxes paid in lieu of shares issued for stock-based compensation (47) — (11) (58) Other financing activities, net (16) 15 4 3 Net cash provided (used) by financing activities (1,319) 418 355 (546) Net increase (decrease) in cash and cash equivalents 175 94 92 361 Cash and cash equivalents at beginning of period 112 13 76 201 Cash and cash equivalents at end of period $ 287 107 168 562 STATEMENT OF CASH FLOWS INFORMATION December 31, 2015 (unaudited) Attributed (note 1) Liberty SiriusXM Braves Formula One Consolidated Group Group Group Liberty amounts in millions Cash flows from operating activities: Net earnings (loss) $ 443 (20) (175) 248 Adjustments to reconcile net earnings to net cash provided by operating activities: Depreciation and amortization 322 31 9 362 Stock-based compensation 157 10 37 204 Share of (earnings) loss of affiliates, net 1 (9) 48 40 Realized and unrealized (gains) losses on financial instruments, net — — 140 140 Noncash interest expense 6 — — 6 Losses (gains) on dilution of investments in affiliate — — 1 1 Deferred income tax expense (benefit) 290 (6) (109) 175 Intergroup tax allocation (4) (4) 8 — Intergroup tax (payments) receipts — 1 (1) — Other charges (credits), net 15 — 4 19 Changes in operating assets and liabilities Current and other assets (220) 9 3 (208) Payables and other liabilities 212 33 — 245 Net cash provided (used) by operating activities 1,222 45 (35) 1,232 Cash flows from investing activities: Cash proceeds from dispositions of investments — 24 151 175 Proceeds (payments) from settlement of financial instruments, net — — (322) (322) Investments in and loans to cost and equity investments — — (19) (19) Capital expended for property and equipment (135) (128) (33) (296) Purchases of short term investments and other marketable securities — — (174) (174) Sales of short term investments and other marketable securities — — 358 358 Other investing activities, net — (9) 1 (8) Net cash provided (used) by investing activities (135) (113) (38) (286) Cash flows from financing activities: Borrowings of debt 1,978 197 38 2,213 Repayments of debt (1,038) (158) — (1,196) Intergroup (payments) receipts 9 31 (40) — Repurchases of Liberty common stock — — (350) (350) Shares repurchased by subsidiary (2,018) — — (2,018) Taxes paid in lieu of shares issued for stock-based compensation (54) — (26) (80) Other financing activities, net — — 5 5 Net cash provided (used) by financing activities (1,123) 70 (373) (1,426) Net increase (decrease) in cash and cash equivalents (36) 2 (446) (480) Cash and cash equivalents at beginning of period 148 11 522 681 Cash and cash equivalents at end of period $ 112 13 76 201

Summary of Significant Accoun28

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2017
Summary of Significant Accounting Policies
Cash and Cash Equivalents	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 Receivables are reflected net of an allowance for doubtful accounts and sales returns. Such allowance aggregated $12 million and $9 million at December 31, 2017 and 2016, respectively. Activity in the year ended December 31, 2017 included an increase of $57 million of bad debt charged to expense and $55 million of write-offs. Activity in the year ended December 31, 2016 included an increase of $56 million of bad debt charged to expense and $53 million of write-offs. Activity in the year ended December 31, 2015 included an increase of $47 million of bad debt charged to expense and $49 million of write-offs.
Investments	Investments All marketable equity and debt securities held by the Company are classified as available-for-sale (“AFS”) and are carried at fair value generally based on quoted market prices. U.S. generally accepted accounting principles (“GAAP”) permit entities to choose to measure many financial instruments, such as AFS securities, and certain other items at fair value and to recognize the changes in fair value of such instruments in the entity’s statement of operations (the “fair value option”). Under other relevant GAAP, entities were required to recognize changes in fair value of AFS securities in the balance sheet in accumulated other comprehensive earnings. Liberty previously had entered into economic hedges for certain of its AFS securities (although such instruments are not accounted for as fair value hedges by the Company). Changes in the fair value of these economic hedges were reflected in Liberty’s statement of operations as unrealized gains (losses). In order to better match the changes in fair value of the subject AFS securities and the changes in fair value of the corresponding economic hedges in the Company’s financial statements, Liberty elected the fair value option for certain of its AFS securities (“Fair Value Option Securities”). Accordingly, changes in the fair value of Fair Value Option Securities, as determined by quoted market prices, are reported in realized and unrealized gain (losses) on financial instruments in the accompanying consolidated statements of operations. The total value of AFS equity securities for which the Company has elected the fair value option aggregated $467 million and $489 million as of December 31, 2017 and 2016, respectively. Other investments in which the Company’s ownership interest is less than 20% and are not considered marketable securities are carried at cost. For those investments in affiliates in which the Company has the ability to exercise significant influence, the equity method of accounting is used. Under this method, the investment, originally recorded at cost, is adjusted to recognize the Company’s share of net earnings or losses of the affiliate as they occur rather than as dividends or other distributions are received. Losses are limited to the extent of the Company’s investment in, advances to and commitments for the investee. In the event the Company is unable to obtain accurate financial information from an equity affiliate in a timely manner, the Company records its share of earnings or losses of such affiliate on a lag. Changes in the Company’s proportionate share of the underlying equity of an equity method investee, which result from the issuance of additional equity securities by such equity investee, are recognized in the statement of operations through the other, net line item. To the extent there is a difference between our ownership percentage in the underlying equity of an equity method investee and our carrying value, such difference is accounted for as if the equity method investee were a consolidated subsidiary. The Company continually reviews its equity investments and its AFS securities which are not Fair Value Option Securities to determine whether a decline in fair value below the cost basis is other than temporary. The primary factors the Company considers in its determination are the length of time that the fair value of the investment is below the Company’s carrying value; the severity of the decline; and the financial condition, operating performance and near term prospects of the investee. In addition, the Company considers the reason for the decline in fair value, be it general market conditions, industry specific or investee specific; analysts’ ratings and estimates of 12-month share price targets for the investee; changes in stock price or valuation subsequent to the balance sheet date; and the Company’s intent and ability to hold the investment for a period of time sufficient to allow for a recovery in fair value. If the decline in fair value is deemed to be other than temporary, the cost basis of the security is written down to fair value. In situations where the fair value of an investment is not evident due to a lack of a public market price or other factors, the Company uses its best estimates and assumptions to arrive at the estimated fair value of such investment. The Company’s assessment of the foregoing factors involves a high degree of judgment and accordingly, actual results may differ materially from the Company’s estimates and judgments. Writedowns for AFS securities which are not Fair Value Option Securities (as defined below) are included in the consolidated statements of operations as other than temporary declines in fair values of investments. Writedowns for equity method investments are included in share of earnings (losses) of affiliates.
Fair Value of Financial Instruments	Fair Value of Financial Instruments In January 2016, the Financial Accounting Standards Board (“FASB”) issued new accounting guidance that is intended to improve the recognition and measurement of financial instruments. The new guidance requires equity investments with readily determinable fair values (except those accounted for under the equity method of accounting or those that result in consolidation) to be measured at fair value with changes in fair value recognized in net income and simplifies the impairment assessment of equity investments without readily determinable fair values by requiring a qualitative assessment to identify impairment. The new standard is effective for the Company for fiscal years and interim periods beginning after December 15, 2017. The Company does not expect this new guidance will have a material impact to its consolidated financial statements or related disclosures.
Derivative Instruments and Hedging Activities	Derivative Instruments and Hedging Activities All of the Company’s derivatives, whether designated in hedging relationships or not, are recorded on the balance sheet at fair value. If the derivative is designated as a fair value hedge, the changes in the fair value of the derivative and of the hedged item attributable to the hedged risk are recognized in earnings. If the derivative is designated as a cash flow hedge, the effective portions of changes in the fair value of the derivative are recorded in other comprehensive earnings and are recognized in the statement of operations when the hedged item affects earnings. Ineffective portions of changes in the fair value of cash flow hedges are recognized in earnings. If the derivative is not designated as a hedge, changes in the fair value of the derivative are recognized in earnings. None of the Company’s derivatives are currently designated as hedges. The fair value of certain of the Company’s derivative instruments are estimated using the Black-Scholes model. The Black-Scholes model incorporates a number of variables in determining such fair values, including expected volatility of the underlying security and an appropriate discount rate. The Company obtained volatility rates from pricing services based on the expected volatility of the underlying security over the remaining term of the derivative instrument. A discount rate was obtained at the inception of the derivative instrument and updated each reporting period, based on the Company’s estimate of the discount rate at which it could currently settle the derivative instrument. The Company considered its own credit risk as well as the credit risk of its counterparties in estimating the discount rate. Considerable management judgment was required in estimating the Black-Scholes variables.
Property and Equipment	Property and Equipment Property and equipment consisted of the following: Estimated Useful Life December 31, 2017 December 31, 2016 amounts in millions Land NA $ 217 191 Buildings and improvements 10 - 40 years 974 144 Support equipment 3 - 20 years 514 316 Satellite system 15 years 1,676 1,668 Construction in progress NA 215 863 Total property and equipment $ 3,596 3,182 Property and equipment, including significant improvements, is stated at cost. Depreciation is computed using the straight-line method using estimated useful lives. Depreciation expense for the years ended December 31, 2017, 2016 and 2015 was $230 million, $186 million and $207 million, respectively. A portion of the interest on funds borrowed to finance the construction of the Braves ballpark and mixed-use development as well as the launch of SIRIUS XM’s satellites and launch vehicles is capitalized. Capitalized interest is recorded as part of the asset’s cost and depreciated over the asset’s useful life. Capitalized interest costs for the years ended December 31, 2017 and 2016 was approximately $10 million and $8 million, respectively, which related to the construction of the Braves ballpark and mixed-use development during the years ended December 31, 2017 and 2016 and the construction of SIRIUS XM’s satellites during the year ended December 31, 2017.
Intangible Assets	Intangible Assets Intangible assets with estimable useful lives are amortized over their respective estimated useful lives to their estimated residual values, and reviewed for impairment upon certain triggering events. Goodwill and other intangible assets with indefinite useful lives (collectively, “indefinite lived intangible assets”) are not amortized, but instead are tested for impairment at least annually. Our annual impairment assessment of our indefinite-lived intangible assets is performed during the fourth quarter of each year. In January 2017, the FASB issued new accounting guidance to simplify the measurement of goodwill impairment. Under the new guidance, an entity no longer performs a hypothetical purchase price allocation to measure goodwill impairment. Instead, a goodwill impairment is measured using the difference between the carrying value and the fair value of the reporting unit. The Company early adopted this guidance during the fourth quarter of 2017. The accounting guidance permits entities to first assess qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount as a basis for determining whether it is necessary to perform the quantitative goodwill impairment test. The accounting guidance also allows entities the option to bypass the qualitative assessment for any reporting unit in any period and proceed directly to the quantitative impairment test. The entity may resume performing the qualitative assessment in any subsequent period. In evaluating goodwill on a qualitative basis, the Company reviews the business performance of each reporting unit and evaluates other relevant factors as identified in the relevant accounting guidance to determine whether it is more likely than not that an indicated impairment exists for any of our reporting units. The Company considers whether there are any negative macroeconomic conditions, industry specific conditions, market changes, increased competition, increased costs in doing business, management challenges, the legal environments and how these factors might impact company specific performance in future periods. As part of the analysis, the Company also considers fair value determinations for certain reporting units that have been made at various points throughout the current and prior years for other purposes. If based on the qualitative analysis it is more likely than not that an impairment exists, the Company performs the quantitative impairment test. The quantitative goodwill impairment test compares the estimated fair value of a reporting unit to its carrying value. Developing estimates of fair value requires significant judgments, including making assumptions about appropriate discount rates, perpetual growth rates, relevant comparable market multiples, public trading prices and the amount and timing of expected future cash flows. The cash flows employed in Liberty’s valuation analysis are based on management’s best estimates considering current marketplace factors and risks as well as assumptions of growth rates in future years. There is no assurance that actual results in the future will approximate these forecasts. The accounting guidance also permits entities to first perform a qualitative assessment to determine whether it is more likely than not that an indefinite-lived intangible asset is impaired. The accounting guidance also allows entities the option to bypass the qualitative assessment for any indefinite-lived intangible asset in any period and proceed directly to the quantitative impairment test. The entity may resume performing the qualitative assessment in any subsequent period. If the qualitative assessment supports that it is more likely than not that the carrying value of the Company’s indefinite-lived intangible assets, other than goodwill, exceeds its fair value, then a quantitative assessment is performed. If the carrying value of an indefinite-lived intangible asset exceeds its fair value, an impairment loss is recognized in an amount equal to that excess.
Impairment of Long-lived Assets	Impairment of Long-lived Assets The Company periodically reviews the carrying amounts of its property and equipment and its intangible assets (other than goodwill and indefinite-lived intangibles) to determine whether current events or circumstances indicate that such carrying amounts may not be recoverable. If the carrying amount of the asset group is greater than the expected undiscounted cash flows to be generated by such asset group, an impairment adjustment is to be recognized. Such adjustment is measured by the amount that the carrying value of such asset groups exceeds their fair value. The Company generally measures fair value by considering sale prices for similar assets or by discounting estimated future cash flows using an appropriate discount rate. Considerable management judgment is necessary to estimate the fair value of asset groups. Accordingly, actual results could vary significantly from such estimates. Asset groups to be disposed of are carried at the lower of their financial statement carrying amount or fair value less costs to sell.
Noncontrolling Interests	Noncontrolling Interests The Company reports noncontrolling interests of subsidiaries within equity in the balance sheet and the amount of consolidated net income attributable to the parent and to the noncontrolling interest is presented in the statement of operations. Also, changes in ownership interests in subsidiaries in which the Company maintains a controlling interest are recorded in equity.
Revenue Recognition	Revenue Recognition Revenue is recognized as follows: · Revenue from SIRIUS XM subscribers is recognized as it is realized or realizable and earned. Subscription fees are recognized as SIRIUS XM’s services are provided. Consumers purchasing or leasing a vehicle with a factory-installed satellite radio typically receive between a three and twelve month subscription to SIRIUS XM’s service, certain of which are prepaid. Prepaid subscription fees received from certain automakers are recorded as deferred revenue and amortized to revenue ratably over the service period which commences upon retail sale and activation. No revenue is recognized for unpaid trial subscriptions. · SIRIUS XM recognizes revenue from the sale of advertising as the advertising is transmitted. Agency fees are calculated based on a stated percentage applied to gross billing revenue for advertising inventory and are reported as a reduction of advertising revenue. SIRIUS XM pays certain third parties a percentage of advertising revenue. Advertising revenue is recorded gross of revenue share payments made to certain third parties, which are recorded to Revenue share and royalties during the period in which the advertising is transmitted. · Equipment revenue and royalties from the sale of satellite radios, components and accessories are recognized upon shipment, net of discounts and rebates. Shipping and handling costs billed to customers are recorded as revenue. Shipping and handling costs associated with shipping goods to customers are reported as a component of Cost of subscriber services. · Certain revenue arrangements contain multiple products, services and right to use assets, such as SIRIUS XM’s bundled subscription plans. The applicable accounting guidance requires that such multiple deliverable revenue arrangements be divided into separate units of accounting if the deliverables in the arrangement meet certain criteria. Consideration is allocated at the inception of the arrangement to all deliverables based on their relative selling price, which is determined using vendor specific objective evidence of the selling price of self-pay customers. · SIRIUS XM also earns revenue from U.S. Music Royalty Fees, which are recorded as revenue and as a component of Revenue share and royalties expense. Fees received from subscribers for the U.S. Music Royalty Fee are recorded as deferred revenue and amortized to revenue ratably over the service period. · SIRIUS XM revenue is reported net of any taxes assessed by a governmental authority that is both imposed on, and concurrent with, a specific revenue-producing transaction between a seller and a customer in the consolidated statements of operations. · Formula 1 derives the majority of its revenue from race promotion, broadcasting and advertising and sponsorship arrangements. Revenue derived from broadcasting and advertising arrangements is recognized on an event by event basis, based on the fixed fee within the underlying contractual arrangement. Revenue from granting rights to host, stage and promote events is recognized upon the occurrence of the event. The revenue for event-based advertising is also recognized on occurrence of the events to which the underlying contract relates. · Formula 1 also earns revenue from teams and other parties for administering the shipment of cars and equipment to and from the events outside Europe, revenue from the sale of tickets to the Formula One Paddock Club event-based hospitality, various TV production and post-production activities, and revenue from other licensing of the Formula One brand. To the extent such revenue relates to services provided or rights associated with a specific event, the revenue is recognized upon occurrence of the related event. · Revenue for Braves Holdings ticket sales, broadcasting rights, signage and suites are recognized on a per game basis during the baseball season based on a pro rata share of total revenue earned during the entire baseball season to the total number of home games during the season. Prior to 2016, concession revenue was recognized as commissions were earned from the sale of food and beverage at the stadium in accordance with agreements with Braves Holdings’ concessions vendors. Beginning in 2016, Braves Holdings brought its retail operations in-house and engaged a new concessions operator. As a result, concession revenue is recognized on a per game basis during the baseball season. Major League Baseball (“MLB”) revenue is earned throughout the year based on an estimate of revenue generated by MLB on behalf of the 30 MLB clubs. Sources of MLB revenue include distributions from the MLB Central Fund, distributions from MLB Properties and revenue sharing income, if applicable. In May 2014, the FASB issued new accounting guidance on revenue from contracts with customers. The new guidance requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. This new guidance also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized from costs incurred to obtain or fulfill a contract. In March 2016, the FASB issued additional guidance which clarifies principal versus agent considerations, and in April 2016, the FASB issued further guidance which clarifies the identification of performance obligations and the implementation guidance for licensing. The updated guidance will replace most existing revenue recognition guidance in GAAP when it becomes effective and permits the use of either a full retrospective or modified retrospective transition method. We will adopt this guidance under the modified retrospective transition method effective as of January 1, 2018. SIRIUS XM has completed its evaluation of the impact of the new guidance on its revenue streams and expects the most significant impact to the classification of Revenue share and certain subsidy payments made to automakers associated with a paid promotional subscription and the impact of the timing of recognition of activation revenue. Under the new standard, the payments associated with a paid promotional subscription will be treated as a reduction to the transaction price rather than as an expense. SIRIUS XM expects this change to reduce subscriber revenue by $90 million, along with a corresponding reduction to revenue share and royalties and subscriber acquisition costs. SIRIUS XM does not expect this change to have a significant impact to its net earnings. Additionally, within the consolidated balance sheets, upon adoption, the amount of revenue share and certain subsidy payments made to automakers associated with a paid promotional subscription will be classified as a liability separate from deferred revenue. SIRIUS XM expects the adjustment will have an immaterial impact to retained earnings upon adoption. Formula 1 and Braves Holdings have made significant progress toward completing their evaluation of the potential impact from adopting the new guidance on their primary revenue streams. Formula 1 is not expecting a material impact to revenue recognition for its primary revenue streams upon adoption of the new guidance. Braves Holdings expects a change in the timing of recognition of revenue under its long term contracts upon adoption of the new guidance, which we expect to result in an immaterial cumulative effect adjustment to retained earnings. The remaining primary revenue streams for Braves Holdings are not expected to be materially impacted upon adoption of the new guidance. Formula 1 and Braves Holdings continue to finalize the impact of the adoption of this new guidance on their financial statements, policies, controls and procedures.
Cost of Subscriber Services	Cost of Subscriber Services Revenue Share SIRIUS XM shares a portion of its subscription revenue earned from self-pay subscribers and paid promotional subscribers with certain automakers. The terms of the revenue share agreements vary with each automaker, but are typically based upon the earned audio revenue as reported or gross billed audio revenue. Such shared revenue is recorded as an expense and not as a reduction to revenue. Programming Costs Programming costs which are for a specified number of events are amortized on an event-by-event basis; programming costs which are for a specified season or include programming through a dedicated channel are amortized over the season or period on a straight-line basis. SIRIUS XM allocates a portion of certain programming costs which are related to sponsorship and marketing activities to selling, general and administrative expense on a straight-line basis over the term of the agreement.
Cost of Formula 1 Revenue	Cost of Formula 1 Revenue Cost of Formula 1 revenue consists of team payments and hospitality costs, which are principally related to catering and other aspects of the production and delivery of the Paddock Club, and circuit rights’ fees payable under various agreements with race promoters to acquire certain commercial rights at Events, including the right to sell advertising, hospitality and support race opportunities. Other costs include annual Federation Internationale de l’Automobile regulatory fees, advertising and sponsorship commissions and those incurred in the provision and sale of freight, travel and logistical services, F2 and GP3 cars, parts and maintenance services, television production and post-production services, advertising production services and digital and social media activities. These costs are largely variable in nature and relate directly to revenue opportunities.
Subscriber Acquisition Costs	Subscriber Acquisition Costs Subscriber acquisition costs consist of costs incurred to acquire new subscribers and include hardware subsidies paid to radio manufacturers, distributors and automakers, including subsidies paid to automakers who include a satellite radio and a prepaid subscription to SIRIUS XM service in the sale or lease price of a new vehicle; subsidies paid for chipsets and certain other components used in manufacturing radios; device royalties for certain radios and chipsets; commissions paid to retailers and automakers as incentives to purchase, install and activate radios; product warranty obligations; freight; and provisions for inventory allowance attributable to inventory consumed in SIRIUS XM’s automaker and retail distribution channels. Subscriber acquisition costs do not include advertising costs, loyalty payments to distributors and dealers of radios and revenue share payments to automakers and retailers of radios. Subsidies paid to radio manufacturers and automakers are expensed upon installation, shipment, receipt of product or activation and are included in Subscriber acquisition costs because SIRIUS XM is responsible for providing the service to the customers. Commissions paid to retailers and automakers are expensed upon either the sale or activation of radios. Chipsets that are shipped to radio manufacturers and held on consignment are recorded as inventory and expensed as subscriber acquisition costs when placed into production by radio manufacturers. Costs for chipsets not held on consignment are expensed as subscriber acquisition costs when the automaker confirms receipt.
Advertising Costs	Advertising Costs Advertising expense aggregated $311 million, $230 million and $210 million for the years ended December 31, 2017, 2016 and 2015, respectively. Advertising costs are primarily attributable to costs incurred by SIRIUS XM. SIRIUS XM’s media-related advertising costs are expensed when advertisements air, and advertising production costs are expensed as incurred. These costs are reflected in selling, general and administrative expenses in the consolidated statements of operations.
Stock-Based Compensation	Stock-Based Compensation As more fully described in note 14, Liberty has granted to its directors, employees and employees of its subsidiaries options and restricted stock to purchase shares of Liberty common stock (collectively, “Awards”). The Company measures the cost of employee services received in exchange for an Award based on the grant-date fair value of the Award, and recognizes that cost over the period during which the employee is required to provide service (usually the vesting period of the Award). Included in the accompanying consolidated statements of operations are the following amounts of stock-based compensation: Years ended December 31, 2017 2016 2015 amounts in millions Cost of subscriber services: Programming and content $ 27 21 19 Customer service and billing 4 4 5 Other 5 5 8 Other operating expense 16 13 18 Selling, general and administrative 178 107 154 $ 230 150 204 In March 2016, the FASB issued new accounting guidance on share-based payment accounting. The areas for simplification in this update involve several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, forfeiture calculations, and classification on the statement of cash flows. We early adopted this new guidance in the third quarter of 2016. The Company applied the new guidance prospectively from January 1, 2016. In accordance with the new guidance, excess tax benefits and tax deficiencies are recognized as income tax benefit or expense rather than as additional paid-in capital. The Company has elected to recognize forfeitures as they occur rather than continue to estimate expected forfeitures. In addition, pursuant to the new guidance, excess tax benefits are classified as an operating activity on the consolidated statements of cash flows. The recognition of excess tax benefits and deficiencies are applied prospectively. For tax benefits that were not previously recognized and for adjustments to compensation cost based on actual forfeitures, the Company recorded a cumulative-effect adjustment in retained earnings as of January 1, 2016 in the amount of $66 million.
Income Taxes	Income Taxes The Company accounts for income taxes using the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying value amounts and income tax bases of assets and liabilities and the expected benefits of utilizing net operating loss and tax credit carryforwards. The deferred tax assets and liabilities are calculated using enacted tax rates in effect for each taxing jurisdiction in which the Company operates for the year in which those temporary differences are expected to be recovered or settled. Net deferred tax assets are then reduced by a valuation allowance if the Company believes it more likely than not such net deferred tax assets will not be realized. The effect on deferred tax assets and liabilities of an enacted change in tax rates is recognized in income in the period that includes the enactment date. When the tax law requires interest to be paid on an underpayment of income taxes, the Company recognizes interest expense from the first period the interest would begin accruing according to the relevant tax law. Such interest expense is included in interest expense in the accompanying consolidated statements of operations. Any accrual of penalties related to underpayment of income taxes on uncertain tax positions is included in other income (expense) in the accompanying consolidated statements of operations.
Earnings attributable to Liberty Stockholders Per Common Share	Earnings Attributable to Liberty Stockholders Per Common Share Basic earnings (loss) per common share (“EPS”) is computed by dividing net earnings (loss) by the weighted average number of common shares that were outstanding for the period at the Company. Diluted EPS presents the dilutive effect on a per share basis of potential common shares as if they had been converted at the beginning of the periods presented. As discussed in note 2, on April 15, 2016, the Company completed a recapitalization of its common stock into three new tracking stock groups, one designated as the Liberty SiriusXM common stock, one designated as the Liberty Braves common stock and one designated as the Liberty Media common stock. As further discussed in note 2, the Liberty Media common stock was renamed Liberty Formula One common stock on January 24, 2017 shortly after the Second Closing. The operating results prior to the Recapitalization are attributed to Liberty Media Corporation stockholders in the aggregate, and the operating results subsequent to the Recapitalization are attributed to the respective tracking stock groups. Excluded from diluted EPS for the period subsequent to the Recapitalization through December 31, 2016 are approximately 21 million potentially dilutive shares of Series A Liberty SiriusXM common stock, 2 million potentially dilutive shares of Series A Liberty Braves common stock and 5 million potentially dilutive shares of Series A Liberty Formula One common stock, primarily due to warrants issued in connection with the Bond Hedge Transaction (note 10), because their inclusion would be antidilutive. The Amended Warrant Transactions (as defined and discussed in note 10) may have a dilutive effect with respect to the shares comprising the Securities Basket underlying the warrants to the extent that the settlement price exceeds the strike price of the warrants, and the warrants are settled in shares comprising such Securities Basket. The warrants and any potential future settlement have been attributed to the Formula One Group. Series A, Series B and Series C Liberty Media Corporation Common Stock The basic and diluted EPS calculation is based on the following weighted average shares outstanding (“WASO”) of Liberty’s common stock. Excluded from diluted EPS for the periods from January 1, 2016 through the Recapitalization and for the year ended December 31, 2015 are 23 million and 22 million potential common shares, respectively, primarily due to warrants issued in connection with the Bond Hedge Transaction (as defined and discussed in note 10) because their inclusion would be anti-dilutive. January 1, 2016 through April 15, 2016 Year ended December 31, 2015 number of shares in millions Basic WASO 335 338 Potentially dilutive shares 2 2 Diluted WASO 337 340 Series A, Series B and Series C Liberty SiriusXM Common Stock The basic and diluted EPS calculations are based on the following weighted average outstanding shares of common stock. Excluded from diluted EPS for the year ended December 31, 2017 are 22 million potentially dilutive shares of Liberty SiriusXM common stock, because their inclusion would be antidilutive. Year ended December 31, 2017 April 18, 2016 through December 31, 2016 number of shares in millions Basic WASO 336 335 Potentially dilutive shares 4 2 Diluted WASO 340 337 Series A, Series B and Series C Liberty Braves Common Stock The basic and diluted EPS calculations are based on the following weighted average outstanding shares of common stock. Excluded from diluted EPS for the year ended December 31, 2017 are 2 million potentially dilutive shares of Liberty Braves common stock, because their inclusion would be antidilutive. Year ended December 31, 2017 (a) April 18, 2016 through December 31, 2016 (a)(b)(c) number of shares in millions Basic WASO 49 46 Potentially dilutive shares 10 9 Diluted WASO 59 55 (a) Potentially dilutive shares are excluded from the computation of diluted EPS during periods in which losses are reported since the result would be antidilutive. (b) As discussed in note 2, subsequent to the Recapitalization, Liberty distributed subscription rights to holders of Liberty Braves common stock, which were priced at a discount to the market value, to acquire additional shares of Liberty Braves common stock. The rights offering, because of the discount, is considered a stock dividend which requires retroactive treatment for prior periods for the weighted average shares outstanding. (c) As discussed in note 2, following the Recapitalization and Series C Liberty Braves common stock rights offering, the number of notional shares representing the Formula One Group’s intergroup interest in the Braves Group was adjusted to 9,084,940 shares. The intergroup interest is a quasi-equity interest which is not represented by outstanding shares of common stock; rather, the Formula One Group has an attributed value in the Braves Group which is generally stated in terms of a number of shares of stock issuable to the Formula One Group with respect to its interest in the Braves Group. Each reporting period, the notional shares representing the intergroup interest are marked to fair value. As the notional shares underlying the intergroup interest are not represented by outstanding shares of common stock, such shares have not been officially designated Series A, B or C Liberty Braves common stock. However, Liberty has assumed that the notional shares (if and when issued) would be comprised of Series C Liberty Braves common stock in order to not dilute voting percentages. Therefore, the market price of Series C Liberty Braves common stock is used for the quarterly mark-to-market adjustment through the unaudited attributed consolidated statements of operations . The notional shares representing the intergroup interest have no impact on the basic earnings per share weighted average number of shares outstanding. However, in periods where the Braves Group has net earnings, the notional shares representing the intergroup interest are included in the diluted earnings per share WASO as if the shares had been issued and outstanding during the period. In periods where the Braves Group has net earnings, an adjustment is also made to the numerator in the diluted earnings per share calculation for the unrealized gain or loss incurred from marking the intergroup interest to fair value during the period as follows: Year ended December 31, 2017 (a) April 18, 2016 through December 31, 2016 (a) amounts in millions Basic earnings (loss) attributable to Liberty Braves shareholders $ (25) (30) Unrealized (gain) loss on the intergroup interest 15 27 Diluted earnings (loss) attributable to Liberty Braves shareholders $ (10) (3) (a) Unrealized gains on the intergroup interest are excluded from the computation of diluted EPS during periods in which net losses attributable to the Braves Group are reported since the gain would be antidilutive. Series A, Series B and Series C Liberty Formula One Common Stock The basic and diluted EPS calculations are based on the following weighted average outstanding shares of common stock. Excluded from diluted EPS for the year ended December 31, 2017 are 5 million potentially dilutive shares of Liberty Formula One common stock, because their inclusion would be antidilutive. Year ended April 18, 2016 number of shares in millions Basic WASO 207 84 Potentially dilutive shares 4 1 Diluted WASO 211 85
Reclasses and adjustments	Year ended April 18, 2016 number of shares in millions Basic WASO 207 84 Potentially dilutive shares 4 1 Diluted WASO 211 85 Reclasses and Adjustments Certain prior period amounts have been reclassified for comparability with the current year presentation.
Estimates	Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. The Company considers (i) recurring and nonrecurring fair value measurements, (ii) accounting for income taxes, (iii) assessments of other-than-temporary declines in fair value of its investments and (iv) determination of the useful life of SIRIUS XM’s broadcast/transmission system to be its most significant estimates. The Company holds investments that are accounted for using the equity method. The Company does not control the decision making process or business management practices of these affiliates. Accordingly, the Company relies on management of these affiliates to provide it with accurate financial information prepared in accordance with GAAP that the Company uses in the application of the equity method. In addition, the Company relies on audit reports that are provided by the affiliates’ independent auditors on the financial statements of such affiliates. The Company is not aware, however, of any errors in or possible misstatements of the financial information provided by its equity affiliates that would have a material effect on the Company’s consolidated financial statements
Recent Accounting Pronouncements	Recent Accounting Pronouncements In February 2016, the FASB issued new accounting guidance on lease accounting. This guidance requires a company to recognize lease assets and lease liabilities arising from operating leases in the statement of financial position. Additionally, the criteria for classifying a lease as a finance lease versus an operating lease are substantially the same as the previous guidance. The amendments in this update are effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years, and early adoption is permitted. Companies are required to use a modified retrospective approach to adopt this guidance. The Company has not yet determined the effect of the standard on its ongoing financial reporting. The Company is currently working with its consolidated subsidiaries to evaluate the impact of the adoption of this new guidance on our consolidated financial statements, including identifying the population of leases, evaluating technology solutions and collecting lease data. In October 2016, the FASB issued new accounting guidance on income tax accounting associated with intra-entity transfers of assets other than inventory. This accounting update, which is part of the FASB’s simplification initiative, is intended to reduce diversity in practice and the complexity of tax accounting, particularly for those transfers involving intellectual property. This new guidance requires an entity to recognize the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs. The guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2017, with early adoption permitted. Upon adoption, an entity may apply the new guidance only on a modified retrospective basis through a cumulative-effect adjustment directly to retained earnings as of the beginning of the period of adoption. The Company does not expect this new guidance will have a material impact to its consolidated financial statements or related disclosures

Summary of Significant Accoun29

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2017
Property, Plant and Equipment	Estimated Useful Life December 31, 2017 December 31, 2016 amounts in millions Land NA $ 217 191 Buildings and improvements 10 - 40 years 974 144 Support equipment 3 - 20 years 514 316 Satellite system 15 years 1,676 1,668 Construction in progress NA 215 863 Total property and equipment $ 3,596 3,182
Share-based compensation expense	Years ended December 31, 2017 2016 2015 amounts in millions Cost of subscriber services: Programming and content $ 27 21 19 Customer service and billing 4 4 5 Other 5 5 8 Other operating expense 16 13 18 Selling, general and administrative 178 107 154 $ 230 150 204
Liberty Media Corporation
Reconciliation of Basic and Diluted Weighted Average Shares	January 1, 2016 through April 15, 2016 Year ended December 31, 2015 number of shares in millions Basic WASO 335 338 Potentially dilutive shares 2 2 Diluted WASO 337 340
Braves Group
Reconciliation of Basic and Diluted Weighted Average Shares	Year ended December 31, 2017 (a) April 18, 2016 through December 31, 2016 (a)(b)(c) number of shares in millions Basic WASO 49 46 Potentially dilutive shares 10 9 Diluted WASO 59 55 (a) Potentially dilutive shares are excluded from the computation of diluted EPS during periods in which losses are reported since the result would be antidilutive. (b) As discussed in note 2, subsequent to the Recapitalization, Liberty distributed subscription rights to holders of Liberty Braves common stock, which were priced at a discount to the market value, to acquire additional shares of Liberty Braves common stock. The rights offering, because of the discount, is considered a stock dividend which requires retroactive treatment for prior periods for the weighted average shares outstanding. (c) As discussed in note 2, following the Recapitalization and Series C Liberty Braves common stock rights offering, the number of notional shares representing the Formula One Group’s intergroup interest in the Braves Group was adjusted to 9,084,940 shares. The intergroup interest is a quasi-equity interest which is not represented by outstanding shares of common stock; rather, the Formula One Group has an attributed value in the Braves Group which is generally stated in terms of a number of shares of stock issuable to the Formula One Group with respect to its interest in the Braves Group. Each reporting period, the notional shares representing the intergroup interest are marked to fair value. As the notional shares underlying the intergroup interest are not represented by outstanding shares of common stock, such shares have not been officially designated Series A, B or C Liberty Braves common stock. However, Liberty has assumed that the notional shares (if and when issued) would be comprised of Series C Liberty Braves common stock in order to not dilute voting percentages. Therefore, the market price of Series C Liberty Braves common stock is used for the quarterly mark-to-market adjustment through the unaudited attributed consolidated statements of operations . The notional shares representing the intergroup interest have no impact on the basic earnings per share weighted average number of shares outstanding. However, in periods where the Braves Group has net earnings, the notional shares representing the intergroup interest are included in the diluted earnings per share WASO as if the shares had been issued and outstanding during the period. In periods where the Braves Group has net earnings, an adjustment is also made to the numerator in the diluted earnings per share calculation for the unrealized gain or loss incurred from marking the intergroup interest to fair value during the period as follows: Year ended December 31, 2017 (a) April 18, 2016 through December 31, 2016 (a) amounts in millions Basic earnings (loss) attributable to Liberty Braves shareholders $ (25) (30) Unrealized (gain) loss on the intergroup interest 15 27 Diluted earnings (loss) attributable to Liberty Braves shareholders $ (10) (3) (a) Unrealized gains on the intergroup interest are excluded from the computation of diluted EPS during periods in which net losses attributable to the Braves Group are reported since the gain would be antidilutive.
Formula One Group
Reconciliation of Basic and Diluted Weighted Average Shares	Year ended April 18, 2016 number of shares in millions Basic WASO 207 84 Potentially dilutive shares 4 1 Diluted WASO 211 85
Common Class SeriesA, SeriesB, SeriesC | Liberty Sirius XM Group
Reconciliation of Basic and Diluted Weighted Average Shares	Year ended December 31, 2017 April 18, 2016 through December 31, 2016 number of shares in millions Basic WASO 336 335 Potentially dilutive shares 4 2 Diluted WASO 340 337

Supplemental Disclosures to C30

Supplemental Disclosures to Consolidated Statements of Cash Flows (Tables)	12 Months Ended
	Dec. 31, 2017
Supplemental Disclosures to Consolidated Statements of Cash Flows
Schedule of Cash Flow, Supplemental Disclosures	Years ended December 31, 2017 2016 2015 amounts in millions Cash paid for acquisitions: Fair value of assets acquired $ (484) — — Intangibles not subject to amortization 4,039 — — Intangibles subject to amortization 5,499 — — Net liabilities assumed (5,035) — — Deferred tax liabilities (475) — — Fair value of equity consideration (1,790) — — Cash paid for acquisitions, net of cash acquired $ 1,754 — — Stock repurchased by subsidiary not yet settled $ 17 23 24 Cash paid for interest, net of amounts capitalized $ 561 327 295 Cash paid for income taxes $ 56 69 3

Acquisitions (tables)

Acquisitions (tables)	12 Months Ended
	Dec. 31, 2017
Acquisitions
Schedule of Purchase Price Allocation [Table Text Block]	Ownership interest held prior to the Second Closing $ 759 Controlling interest acquired 3,939 Total acquisition price $ 4,698 Cash and cash equivalents $ 644 Receivables 136 Goodwill 3,956 Intangible assets subject to amortization 5,484 Other assets 153 Deferred revenue (141) Debt (4,528) Other liabilities assumed (516) Deferred tax liabilities (490) $ 4,698
Business Acquisition, Pro Forma Information [Table Text Block]	Years ended December 31, 2017 2016 amounts in millions Revenue $ 7,595 7,072 Net earnings (loss) $ 1,874 743 Net earnings (loss) attributable to Liberty stockholders $ 1,338 499

Assets And Liabilities Measur32

Assets And Liabilities Measured At Fair Value (Tables)	12 Months Ended
	Dec. 31, 2017
Assets and Liabilities Measured at Fair Value
Assets and Liabilities Measured at Fair Value	December 31, 2017 December 31, 2016 Quoted prices Significant other Quoted prices Significant other in active markets observable in active markets observable for identical assets inputs for identical assets inputs Description Total (Level 1) (Level 2) Total (Level 1) (Level 2) amounts in millions Cash equivalents $ 804 804 — 289 289 — Available-for-sale securities $ 1,047 467 580 489 489 — Financial instrument assets $ 369 19 350 286 16 270 Debt $ 2,115 — 2,115 1,546 — 1,546
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 (amounts in millions): Years ended December 31, 2017 2016 2015 Fair Value Option Securities (a) $ (36) 112 (151) Debt measured at fair value (b) (126) (113) (5) Change in fair value of bond hedges (c) 72 37 23 Other derivatives 2 1 (7) $ (88) 37 (140) (a) Changes in unrealized gains (losses) on fair value option securities include SIRIUS XM’s investment in Pandora’s Series A Convertible Preferred Stock. See note 7 for information related to the investment in Pandora. (b) Changes in unrealized gains (losses) on debt measured at fair value are due to market factors primarily driven by changes in the fair value of the underlying shares into which the debt is exchangeable. Contemporaneously with the issuance of the 1.375% Cash Convertible Notes due 2023, Liberty entered into privately negotiated cash convertible note hedges, which are expected to offset potential cash payments Liberty would be required to make in excess of the principal amount of the convertible notes, upon conversion of the notes. The bond hedges are marked to market based on the trading price of underlying Series A Liberty SiriusXM, Liberty Braves and Liberty Formula One securities and other observable market data as the significant inputs (Level 2). See note 10 for additional discussion of the convertible notes and the bond hedges

Investments In Available-For-33

Investments In Available-For-Sale Securities And Other Cost Investments (Tables)	12 Months Ended
	Dec. 31, 2017
Investments In Available-For-Sale Securities And Other Cost Investments
Available-for-sale Securities, Including Fair Value Option Securities Separately Aggregated, and Other Cost Investments	December 31, 2017 December 31, 2016 amounts in millions Liberty SiriusXM Group Fair Value Option Securities Pandora (a) $ 480 — Other 100 — Total attributed Liberty SiriusXM Group 580 — Braves Group Other AFS and cost investments 8 8 Total attributed Braves Group 8 8 Formula One Group Fair Value Option Securities Time Warner (b) 389 411 Other equity securities 78 78 Total Fair Value Option Securities 467 489 AFS and cost investments Formula 1 (c) — 759 Other AFS and cost investments 59 53 Total AFS and cost investments 59 812 Total attributed Formula One Group 526 1,301 Consolidated Liberty $ 1,114 1,309 (a) See below for details regarding SIRIUS XM’s investment in Pandora. (b) See note 10 for details regarding the number and fair value of shares pledged as collateral pursuant to the Braves Holdings mixed-use development facility as of December 31, 2017. (c) See note 5 for details regarding the Company’s acquisition of Formula 1.

Investments In Affiliates Acc34

Investments In Affiliates Accounted For Using The Equity Method (Tables)	12 Months Ended
	Dec. 31, 2017
Investments in Affiliates Accounted for Using the Equity Method
Schedule Of Equity Ownership And Carrying Amount	December 31, 2017 December 31, 2016 Percentage Fair Value Carrying Carrying ownership (Level 1) amount amount dollar amounts in millions Liberty SiriusXM Group SIRIUS XM Canada $ NA $ 672 164 Total Liberty SiriusXM Group 672 164 Braves Group Other NA NA 145 61 Total Braves Group 145 61 Formula One Group Live Nation (a) $ 2,965 756 731 Other various NA 177 161 Total Formula One Group 933 892 Consolidated Liberty $ 1,750 1,117 (a) See note 10 for details regarding the number and value of shares pledged as collateral pursuant to the Live Nation Margin Loan as of December 31, 2017.
Schedule Of Liberty's Share Of Earnings (Losses) Of Affiliates	Years ended December 31, 2017 2016 2015 amounts in millions Liberty SiriusXM Group SIRIUS XM Canada $ 29 13 (1) Total Liberty SiriusXM Group 29 13 (1) Braves Group Other (a) 78 9 9 Total Braves Group 78 9 9 Formula One Group Live Nation (18) (12) (27) Other 15 4 (21) Total Formula One Group (3) (8) (48) Consolidated Liberty $ 104 14 (40) (a) During the year ended December 31, 2017, an equity method affiliate of Braves Holdings sold a controlling interest in a subsidiary, resulting in Braves Holdings recording its portion of the gain of $69 million.

Intangible Assets (Tables)

Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2017
Goodwill and Other Intangible Assets
Goodwill	Changes in the carrying amount of goodwill are as follows: SIRIUS XM Formula 1 Other Total amounts in millions Balance at January 1, 2016 $ 14,165 — 180 14,345 Other — — — — Balance at December 31, 2016 14,165 — 180 14,345 Acquisitions (a) (b) 82 3,956 — 4,038 Balance at December 31, 2017 $ 14,247 3,956 180 18,383 (a) On April 18, 2017, SIRIUS XM acquired Automatic Labs Inc., a connected vehicle device and mobile application company, for an aggregate purchase price of approximately $108 million, net of cash and restricted cash acquired. The excess purchase price over identifiable net assets of $82 million was recorded to goodwill. (b) See note 5 for details regarding the Formula 1 acquisition.
Schedule of intangible assets subject to amortization	December 31, 2017 December 31, 2016 Gross Net Gross Net carrying Accumulated carrying carrying Accumulated carrying amount amortization amount amount amortization amount amounts in millions FIA Agreement $ 3,630 (157) 3,473 — — — Customer relationships 2,684 (501) 2,183 830 (228) 602 Licensing agreements 330 (138) 192 316 (109) 207 Other 798 (515) 283 686 (423) 263 Total $ 7,442 (1,311) 6,131 1,832 (760) 1,072
Schedule of future amortization expense	Based on its amortizable intangible assets as of December 31, 2017, Liberty expects that amortization expense will be as follows for the next five years (amounts in millions): 2018 $ 611 2019 $ 598 2020 $ 502 2021 $ 469 2022 $ 433

Long-Term Debt (Tables)

Long-Term Debt (Tables)	12 Months Ended
	Dec. 31, 2017
Debt
Schedule of Long-term Debt Instruments	Outstanding Carrying value Principal December 31, December 31, December 31, 2017 2017 2016 Liberty SiriusXM Group Corporate level notes and loans: Margin loans $ 750 750 250 Subsidiary notes and loans: SIRIUS XM 5.75% Senior Notes due 2021 — — 596 SIRIUS XM 5.25% Senior Secured Notes due 2022 — — 405 SIRIUS XM 4.25% Senior Notes due 2020 — — 497 SIRIUS XM 3.875% Senior Notes due 2022 1,000 992 — SIRIUS XM 4.625% Senior Notes due 2023 500 497 496 SIRIUS XM 6% Senior Notes due 2024 1,500 1,488 1,487 SIRIUS XM 5.375% Senior Notes due 2025 1,000 991 990 SIRIUS XM 5.375% Senior Notes due 2026 1,000 990 989 SIRIUS XM 5.0% Senior Notes due 2027 1,500 1,486 — SIRIUS XM Senior Secured Revolving Credit Facility 300 300 390 SIRIUS XM leases 11 11 14 Less deferred financing costs (9) (7) Total Liberty SiriusXM Group 7,561 7,496 6,107 Braves Group Subsidiary notes and loans: Notes and loans 667 667 338 Less deferred financing costs (5) (10) Total Braves Group 667 662 328 Formula One Group Corporate level notes and loans: 1.375% Cash Convertible Notes due 2023 1,000 1,146 1,076 1% Cash Convertible Notes due 2023 450 505 — 2.25% Exchangeable Senior Debentures due 2046 445 464 470 Live Nation Margin Loan 350 350 — Other 35 35 37 Subsidiary notes and loans: Bank Loans 3,302 3,314 — Less deferred financing costs (18) — Total Formula One Group 5,582 5,796 1,583 Total debt $ 13,810 13,954 8,018 Less debt classified as current (768) (5) Total long-term debt $ 13,186 8,013
Schedule of Braves Holdings Debt	Carrying value As of December 31, 2017 December 31, December 31, Borrowing Weighted avg Maturity 2017 2016 Capacity interest rate Date amounts in millions Operating credit facilities $ various Ballpark funding Term loan 55 10 55 August 2021 Senior secured note 200 200 200 August 2041 Floating rate notes 75 — 75 September 2029 Mixed-use credit facilities (a) 200 67 237 various Spring training credit facility 39 — 40 December 2022 Total Braves Holdings $ 667 338 792 (a) As discussed in note 7, 464 thousand Time Warner shares with a fair value of $42 million were pledged as collateral to certain mixed-use facilities as of December 31, 2017.
Fair Value of Debt	The fair value, based on quoted market prices of the same instruments but not considered to be active markets (Level 2), of SIRIUS XM’s publicly traded debt securities is as follows (amounts in millions): December 31, 2017 SIRIUS XM 3.875% Senior Notes due 2022 $ 1,002 SIRIUS XM 4.625% Senior Notes due 2023 $ 510 SIRIUS XM 6% Senior Notes due 2024 $ 1,587 SIRIUS XM 5.375% Senior Notes due 2025 $ 1,038 SIRIUS XM 5.375% Senior Notes due 2026 $ 1,039 SIRIUS XM 5.0% Senior Notes due 2027 $ 1,500
Schedule of Maturities of Long-term Debt	The annual principal maturities of outstanding debt obligations for each of the next five years is as follows (amounts in millions): 2018 $ 770 2019 $ 544 2020 $ 437 2021 $ 59 2022 $ 1,052

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2017
Income Taxes
Schedule of Components of Income Tax Expense (Benefit)	Years ended December 31, 2017 2016 2015 amounts in millions Current: Federal $ 38 (39) (17) State and local (30) (29) (17) Foreign (9) — (1) (1) (68) (35) Deferred: Federal 578 (388) (145) State and local (21) (39) (30) Foreign 507 — — 1,064 (427) (175) Income tax benefit (expense) $ 1,063 (495) (210)
Schedule of Effective Income Tax Rate Reconciliation	Years ended December 31, 2017 2016 2015 amounts in millions Computed expected tax benefit (expense) $ (289) (497) (160) State and local income taxes, net of federal income taxes (37) (46) (1) Foreign income taxes, net of federal income taxes 88 — — Dividends received deductions 38 11 2 Taxable dividends not recognized for book purposes (45) (11) — Federal tax credits 22 67 — Change in valuation allowance affecting tax expense 212 (1) (44) Change in tax rate due to Tax Act 929 — — Settlements with tax authorities 253 — — Income tax reserves (22) — — Non-deductible / Non-taxable interest (60) — — Write-off of tax attributes (42) — — Other, net 16 (18) (7) Income tax benefit (expense) $ 1,063 (495) (210)
Schedule of Deferred Tax Assets and Liabilities	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, 2017 2016 amounts in millions Deferred tax assets: Net operating and capital loss carryforwards and tax credits $ 1,017 1,381 Accrued stock compensation 88 136 Other accrued liabilities 175 102 Deferred revenue 502 761 Discount on debt 26 — Other future deductible amounts 22 20 Deferred tax assets 1,830 2,400 Valuation allowance (112) (50) Net deferred tax assets 1,718 2,350 Deferred tax liabilities: Investments 110 81 Fixed assets 326 330 Intangible assets 2,760 3,961 Discount on debt — 3 Deferred tax liabilities 3,196 4,375 Net deferred tax liabilities $ 1,478 2,025
Summary of Income Tax Contingencies	December 31, 2017 2016 2015 amounts in millions Balance at beginning of year $ 304 254 2 Reductions for tax positions of prior years (1) (1) — Increase in tax positions for current year 16 51 — Increase in tax positions from prior years 37 — 252 Settlements with tax authorities (423) — — Increase in tax positions from acquisition 432 — — Balance at end of year $ 365 304 254

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value	Years ended December 31, 2017 2016 2015 Options Weighted Options Weighted Options Weighted granted average granted average granted average (000's) GDFV (000's) GDFV (000's) GDFV Series C Liberty Media Corporation common stock, Liberty employees and directors (1) NA NA 10 $ 8.33 2,056 $ 13.62 Series C Liberty Media Corporation common stock, Liberty CEO (2) NA NA 775 $ 8.91 420 $ 12.15 Series C Liberty SiriusXM common stock, Liberty employees and directors (1) 263 $ 10.39 $ NA NA Series C Liberty SiriusXM common stock, Liberty CEO (3) 920 $ 8.50 NA NA NA NA Series C Liberty Formula One common stock, Liberty employees and directors (1) 153 $ 9.42 $ NA NA Series C Liberty Formula One common stock, Liberty CEO (3) 171 $ 8.96 NA NA NA NA Series C Liberty Formula One common stock, Formula 1 employees (4) 2,015 $ 8.16 NA NA NA NA Series C Liberty Braves common stock, Liberty employees and directors (1) 35 $ 6.14 $ NA NA Series C Liberty Braves common stock, Liberty CEO (3) 149 $ 6.02 NA NA NA NA (1) Mainly vests between three and five years for employees and in one year for directors. (2) Grant in 2016 cliff vested in December 2016; grant in 2015 cliff vested in March 2016. Grants were made in connection with the CEO’s employment agreement. (3) Grants in 2017 mainly cliff vested in December 2017. (4) Vest monthly over one year.
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions	Volatility 2017 grants Liberty options % - % 2016 grants Liberty options % - % 2015 grants Liberty options % - %
Liberty Sirius XM Group | Common Class A
Schedule of Stock-Based Compensation Activity	Series A Weighted Aggregate average intrinsic Liberty remaining value Awards (000's) WAEP life (in millions) Outstanding at January 1, 2017 2,018 $ 19.39 Granted — $ — Exercised (392) $ 17.74 Forfeited/Cancelled — $ — Outstanding at December 31, 2017 1,626 $ 19.78 2.0 years $ 32 Exercisable at December 31, 2017 1,615 $ 19.73 2.0 years $ 32
Liberty Sirius XM Group | Common Class C
Schedule of Stock-Based Compensation Activity	Series C Weighted Aggregate average intrinsic Liberty remaining value Awards (000's) WAEP life (in millions) Outstanding at January 1, 2017 11,008 $ 25.91 Granted 1,183 $ 37.65 Exercised (810) $ 18.14 Forfeited/Cancelled (53) $ 32.74 Outstanding at December 31, 2017 11,328 $ 27.66 4.1 years $ 136 Exercisable at December 31, 2017 5,882 $ 25.77 3.6 years $ 82
Braves Group | Common Class A
Schedule of Stock-Based Compensation Activity	Series A Weighted Aggregate average intrinsic Liberty remaining value Awards (000's) WAEP life (in millions) Outstanding at January 1, 2017 189 $ 11.30 Granted — $ — Exercised (10) $ 8.83 Forfeited/Cancelled — $ — Outstanding at December 31, 2017 179 $ 11.43 2.0 years $ 2 Exercisable at December 31, 2017 178 $ 11.41 2.0 years $ 2
Braves Group | Common Class C
Schedule of Stock-Based Compensation Activity	Series C Weighted Aggregate average intrinsic Liberty remaining value Awards (000's) WAEP life (in millions) Outstanding at January 1, 2017 1,073 $ 14.92 Granted 184 $ 23.37 Exercised (21) $ 9.05 Forfeited/Cancelled (5) $ 19.01 Outstanding at December 31, 2017 1,231 $ 16.27 4.1 years $ 8 Exercisable at December 31, 2017 686 $ 15.71 3.7 years $ 5
Formula One Group | Common Class A
Schedule of Stock-Based Compensation Activity	Series A Weighted Aggregate average intrinsic Liberty remaining value Awards (000's) WAEP life (in millions) Outstanding at January 1, 2017 455 $ 11.55 Granted — $ — Exercised (55) $ 10.55 Forfeited/Cancelled — $ — Outstanding at December 31, 2017 400 $ 11.69 2.0 years $ 8 Exercisable at December 31, 2017 397 $ 11.66 2.0 years $ 8
Formula One Group | Common Class C
Schedule of Stock-Based Compensation Activity	Series C Weighted Aggregate average intrinsic Liberty remaining value Awards (000's) WAEP life (in millions) Outstanding at January 1, 2017 2,611 $ 15.18 Granted 2,339 $ 34.04 Exercised (177) $ 11.08 Forfeited/Cancelled (13) $ 19.78 Outstanding at December 31, 2017 4,760 $ 24.59 5.0 years $ 46 Exercisable at December 31, 2017 2,380 $ 24.42 4.7 years $ 23

Other Comprehensive Earnings 39

Other Comprehensive Earnings (loss) (Tables)	12 Months Ended
	Dec. 31, 2017
Other Comprehensive Earnings (Loss)
Schedule of Accumulated Other Comprehensive Income (Loss)	Unrealized Foreign holding currency gains (losses) translation on securities adjustment Other AOCI amounts in millions Balance at January 1, 2015 $ (10) — (11) (21) Other comprehensive earnings (loss) attributable to Liberty stockholders — (23) (7) (30) Balance at December 31, 2015 (10) (23) (18) (51) Other comprehensive earnings (loss) attributable to Liberty stockholders 1 1 (13) (11) Balance at December 31, 2016 (9) (22) (31) (62) Other comprehensive earnings (loss) attributable to Liberty stockholders (3) 16 14 27 Balance at December 31, 2017 $ (12) (6) (17) (35)
Schedule of Amounts Recognized in Other Comprehensive Income (Loss)	Tax Before-tax (expense) Net-of-tax amount benefit amount amounts in millions Year ended December 31, 2017: Unrealized holding gains (losses) on securities arising during period $ (5) 2 (3) Foreign currency translation adjustments 60 (22) 38 Other comprehensive earnings $ 55 (20) 35 Year ended December 31, 2016: Foreign currency translation adjustments $ (16) 6 (10) Other comprehensive earnings $ (16) 6 (10) Year ended December 31, 2015: Foreign currency translation adjustments $ (77) 28 (49) Other comprehensive earnings $ (77) 28 (49)

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2017
Commitments and Contingencies [Abstract]
Schedule of Future Minimum Rental Payments for Operating Leases	A summary of future minimum lease payments under cancelable and noncancelable operating leases, as of December 31, 2017 follows (amounts in millions): Years ending December 31: 2018 $ 48 2019 $ 50 2020 $ 46 2021 $ 39 2022 $ 32 Thereafter $ 165

Information About Liberty's O41

Information About Liberty's Operating Segments (Tables)	12 Months Ended
	Dec. 31, 2017
Information About Liberty's Operating Segments
Performance Measures By Segment	Years ended December 31, 2017 2016 2015 Adjusted Adjusted Adjusted Revenue OIBDA Revenue OIBDA Revenue OIBDA amounts in millions Liberty SiriusXM Group SIRIUS XM $ 5,425 2,109 5,014 1,853 4,552 1,660 Corporate and other — (15) — (15) — — Total Liberty SiriusXM Group 5,425 2,094 5,014 1,838 4,552 1,660 Braves Group Corporate and other 386 2 262 (20) 243 3 Total Braves Group 386 2 262 (20) 243 3 Formula One Group Formula 1 1,783 438 — — — — Corporate and other — (41) — (45) — (35) Total Formula One Group 1,783 397 — (45) — (35) Total $ 7,594 2,493 5,276 1,773 4,795 1,628
Other Information By Segment	December 31, 2017 December 31, 2016 Total Investments Capital Total Investments Capital assets in affiliates expenditures assets in affiliates expenditures amounts in millions Liberty SiriusXM Group SIRIUS XM $ 27,837 672 288 26,978 164 206 Corporate and other 693 — — 73 — — Total Liberty SiriusXM Group 28,530 672 288 27,051 164 206 Braves Group Corporate and other 1,866 145 219 1,548 61 360 Total Braves Group 1,866 145 219 1,548 61 360 Formula One Group Formula 1 9,461 — 8 NA NA NA Corporate and other 2,341 933 2 2,995 892 2 Total Formula One Group 11,802 933 10 2,995 892 2 Elimination (1) (202) — — (217) — — Consolidated Liberty $ 41,996 1,750 517 31,377 1,117 568 (1) This is primarily the intergroup interest in the Braves Group held by the Formula One Group, as discussed in note 2. The intergroup interest attributable to the Formula One Group is presented as an asset and the intergroup interest attributable to the Braves Group is presented as a liability in the attributed financial statements and the offsetting amounts between tracking stock groups are eliminated in consolidation.
Reconciliation of segment Adjusted OIBDA to earnings (loss) from continuing operations before income tax	Years ended December 31, 2017 2016 2015 amounts in millions Consolidated segment Adjusted OIBDA $ 2,493 1,773 1,628 Legal settlement (note 17) (45) 465 (108) Stock-based compensation (230) (150) (204) Depreciation and amortization (824) (354) (362) Operating income (loss) 1,394 1,734 954 Interest expense (591) (362) (328) Share of earnings (losses) of affiliates, net 104 14 (40) Realized and unrealized gains (losses) on financial instruments, net (88) 37 (140) Other, net 8 (4) 12 Earnings (loss) from continuing operations before income taxes $ 827 1,419 458
Revenue from External Customers by Geographic Areas [Table Text Block]	Years ended December 31, 2017 2016 2015 amounts in millions United States $ 5,724 5,230 4,739 United Kingdom 1,783 — — Other 87 46 56 $ 7,594 5,276 4,795
Long-lived Assets by Geographic Areas [Table Text Block]	December 31, 2017 2016 amounts in millions United States $ 2,529 2,352 United Kingdom 12 — $ 2,541 2,352

Quarterly Financial Informati42

Quarterly Financial Information (Tables)	12 Months Ended
	Dec. 31, 2017
Quarterly Financial Information (Unaudited)
Schedule of Quarterly Financial Information	1st 2nd 3rd 4th Quarter Quarter Quarter Quarter amounts in millions, except per share amounts 2017: Revenue $ 1,395 2,140 2,065 1,994 Operating income (loss) $ 259 422 382 331 Net earnings (loss) $ 44 156 261 1,429 Net earnings (loss) attributable to Liberty stockholders: Liberty SiriusXM common stock $ 124 123 183 694 Liberty Braves common stock $ (49) (2) 22 4 Liberty Formula One common stock $ (96) (27) (37) 415 Basic net earnings (loss) attributable to Liberty stockholders per common share: Liberty SiriusXM common stock $ 0.37 0.37 0.54 2.07 Liberty Braves common stock $ (1.00) (0.04) 0.45 0.08 Liberty Formula One common stock $ (0.55) (0.13) (0.17) 1.80 Diluted net earnings (loss) attributable to Liberty stockholders per common share: Liberty SiriusXM common stock $ 0.37 0.36 0.54 2.04 Liberty Braves common stock $ (1.00) (0.04) 0.45 0.07 Liberty Formula One common stock $ (0.55) (0.13) (0.17) 1.79 1st 2nd 3rd 4th Quarter Quarter Quarter Quarter amounts in millions, except per share amounts 2016: Revenue $ 1,204 1,366 1,385 1,321 Operating income (loss) $ 781 328 352 273 Net earnings (loss) $ 427 142 169 186 Net earnings (loss) attributable to Liberty stockholders: Liberty Media Corporation common stock $ 364 13 NA NA Liberty SiriusXM common stock $ NA 82 96 119 Liberty Braves common stock $ NA 32 (22) (40) Liberty Formula One common stock $ NA (45) 41 40 Basic net earnings (loss) attributable to Liberty stockholders per common share: Liberty Media Corporation common stock $ 1.09 0.04 NA NA Liberty SiriusXM common stock $ NA 0.24 0.29 0.36 Liberty Braves common stock $ NA 0.89 (0.45) (0.82) Liberty Formula One common stock $ NA (0.54) 0.49 0.48 Diluted net earnings (loss) attributable to Liberty stockholders per common share: Liberty Media Corporation common stock $ 1.08 0.04 NA NA Liberty SiriusXM common stock $ NA 0.24 0.28 0.35 Liberty Braves common stock $ NA 0.11 (0.45) (0.82) Liberty Formula One common stock $ NA (0.54) 0.48 0.47

Basis of Presentation (Details)

Basis of Presentation (Details) - USD ($) $ in Millions	Jul. 23, 2014	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2017	Jan. 23, 2017	Sep. 07, 2016	Nov. 04, 2014
Entity Information [Line Items]
Number of shares received in spin-off								0.25
Additional paid in capital deficit reclassification				$ 499
Related Party Transaction, Amounts of Transaction		$ 24	$ 21	$ 23
Stock Repurchased and Retired During Period, Shares		0	0	9,200,000
Payments for Repurchase of Common Stock				$ 350
Starz, LLC
Entity Information [Line Items]
Related Party Transaction, Amounts of Transaction		$ 4
SIRIUS XM
Entity Information [Line Items]
Stock Repurchased and Retired During Period, Shares					2,500,000,000
Payments for Repurchase of Common Stock					$ 9,400
Ownership Interest In Investee		70.00%			70.00%
Liberty Media Corporation | Common Class C
Entity Information [Line Items]
Number of Shares Issued During The Period For Each Share of Series A and Series B Stock Held By Shareholders Prior To The Distribution	2
Delta Topco
Entity Information [Line Items]
Business Acquisition, Percentage of Voting Interests Acquired						100.00%	20.00%
Maximum | Delta Topco
Entity Information [Line Items]
Business Acquisition, Percentage of Voting Interests Acquired							20.00%

Tracking Stocks (Narrative) (De

Tracking Stocks (Narrative) (Details) $ / shares in Units, $ in Millions	Jan. 23, 2018$ / shares	Nov. 30, 2016USD ($)	Oct. 26, 2016$ / shares	Sep. 07, 2016agreement	Sep. 07, 2016item	May 16, 2016shares	Jun. 30, 2016USD ($)	Jun. 16, 2016$ / sharesshares	May 11, 2016	Dec. 31, 2017USD ($)$ / sharesshares	Jan. 23, 2017	Dec. 31, 2016USD ($)	Oct. 27, 2016	Apr. 15, 2016shares	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Targeted or Tracking Stock, Stock [Line Items]
Number of tracking stock groups														3
Cash and cash equivalents										$ 1,029		$ 562			$ 201	$ 681
Liberty Sirius XM Group
Targeted or Tracking Stock, Stock [Line Items]
Number of tracking stock shares received in the Recapitalization for one share of Liberty Media common stock | shares														1
Cash and cash equivalents										615		287			112	148
Braves Group
Targeted or Tracking Stock, Stock [Line Items]
Number of tracking stock shares received in the Recapitalization for one share of Liberty Media common stock | shares														0.1
Cash and cash equivalents										132		107			13	11
Braves Group | Common Class C
Targeted or Tracking Stock, Stock [Line Items]
Number of subscription rights received for each share of common stock held | shares						0.47
Share Price | $ / shares								$ 12.80
Percentage discount on stock subscriptions									20
Pre rights offering trading period									18 days
Stock Issued During Period, Shares, Period Increase (Decrease) | shares								15,833,634
Formula One Group
Targeted or Tracking Stock, Stock [Line Items]
Number of tracking stock shares received in the Recapitalization for one share of Liberty Media common stock | shares														0.25
Cash and cash equivalents										$ 282		$ 168			$ 76	$ 522
SIRIUS XM
Targeted or Tracking Stock, Stock [Line Items]
Common Stock, Dividends, Per Share, Declared | $ / shares	$ 0.011									$ 0.044
Payments of Dividends										$ 190
Cash Dividends Paid to Parent Company										130
SIRIUS XM | Liberty Sirius XM Group
Targeted or Tracking Stock, Stock [Line Items]
Cash and cash equivalents										$ 69
SIRIUS XM | Quarterly
Targeted or Tracking Stock, Stock [Line Items]
Common Stock, Dividends, Per Share, Declared | $ / shares			$ 0.01
Payments of Dividends		$ 48
Cash Dividends Paid to Parent Company		$ 32
Formula 1 | Braves Group
Targeted or Tracking Stock, Stock [Line Items]
Percentage ownership										15.10%				20.00%
Investment Owned, Balance, Shares | shares										9,084,940
Formula 1 | Formula One Group
Targeted or Tracking Stock, Stock [Line Items]
Cash and cash equivalents										$ 165
Braves Holdings
Targeted or Tracking Stock, Stock [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity										792
Braves Holdings | Braves Group
Targeted or Tracking Stock, Stock [Line Items]
Cash and cash equivalents										$ 55
Intergroup Note | Braves Group
Targeted or Tracking Stock, Stock [Line Items]
Repayments of Lines of Credit							$ 150
Line of Credit Facility, Maximum Borrowing Capacity							$ 165
Delta Topco
Targeted or Tracking Stock, Stock [Line Items]
Investment ownership percentage				20.00%	20.00%
Number of stock purchase agreements				2	2
Interest acquired (as a percent)				20.00%	20.00%						100.00%
Diluted investment ownership percentage													19.10%
Business Acquisition, Percentage of Voting Interests Acquired				20.00%	20.00%						100.00%
Delta Topco | Maximum
Targeted or Tracking Stock, Stock [Line Items]
Interest acquired (as a percent)				20.00%	20.00%
Business Acquisition, Percentage of Voting Interests Acquired				20.00%	20.00%

Summary of Significant Accoun45

Summary of Significant Accounting Policies (Details) - USD ($) $ in Millions	Jan. 01, 2016	Jul. 23, 2014	Apr. 15, 2016	Dec. 31, 2016	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Allowance for Doubtful Accounts Receivable, Current				$ 9		$ 12	$ 9
Provision for Doubtful Accounts						57	56	$ 47
Allowance for Doubtful Accounts Receivable, Write-offs						55	53	49
Total Value Of Fair Value Option Securities				489		467	489
Property, Plant and Equipment, Gross				3,182		3,596	3,182
Depreciation						230	186	207
Interest Costs Capitalized						10	8
Advertising Expense						311	230	210
Share-based Compensation						230	150	204
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized						$ 30
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition						1 year 8 months 12 days
Liberty Sirius XM Group
Property, Plant and Equipment, Gross				2,079		$ 2,274	2,079
Share-based Compensation						$ 150	128	157
Anti-dilutive shares excluded from EPS						22,000,000
Braves Group
Property, Plant and Equipment, Gross				943		$ 1,150	943
Share-based Compensation						48	9	10
Basic earnings (loss)				(30)		(25)
Unrealized gain loss on the intergroup interest				27		15
Diluted earnings (loss)				(3)		$ (10)
Anti-dilutive shares excluded from EPS						2,000,000
Formula One Group
Property, Plant and Equipment, Gross				160		$ 172	160
Share-based Compensation						$ 32	13	$ 37
Anti-dilutive shares excluded from EPS						5,000,000
Land [Member]
Property, Plant and Equipment, Gross				191		$ 217	191
Building and Improvements [Member]
Property, Plant and Equipment, Gross				144		974	144
Equipment [Member]
Property, Plant and Equipment, Gross				316		$ 514	316
Satellite system [Member]
Property, Plant and Equipment, Useful Life						15 years
Property, Plant and Equipment, Gross				1,668		$ 1,676	1,668
Construction in Progress [Member]
Property, Plant and Equipment, Gross				$ 863		$ 215	$ 863
Common Class A | Liberty Sirius XM Group
Anti-dilutive shares excluded from EPS				21,000,000
Common Class A | Braves Group
Anti-dilutive shares excluded from EPS				2,000,000
Common Class A | Formula One Group
Anti-dilutive shares excluded from EPS				5,000,000
Common Class C | Liberty Media Corporation
Number of Shares Issued During The Period For Each Share of Series A and Series B Stock Held By Shareholders Prior To The Distribution		2
Common Class SeriesA, SeriesB, SeriesC | Liberty Sirius XM Group
Weighted Average Number of Shares Outstanding, Basic				335,000,000		336,000,000
Potentially dilutive shares				2,000,000		4,000,000
Diluted, Weighted average number of shares outstanding				337,000,000		340,000,000
Common Class SeriesA, SeriesB, SeriesC | Braves Group
Investment Owned, Balance, Shares						9,084,940
Weighted Average Number of Shares Outstanding, Basic				46,000,000		49,000,000
Potentially dilutive shares				9,000,000		10,000,000
Diluted, Weighted average number of shares outstanding				55,000,000		59,000,000
Common Class SeriesA, SeriesB, SeriesC | Formula One Group
Weighted Average Number of Shares Outstanding, Basic				84,000,000		207,000,000
Potentially dilutive shares				1,000,000		4,000,000
Diluted, Weighted average number of shares outstanding				85,000,000		211,000,000
Common Class SeriesA, SeriesB, SeriesC | Liberty Media Corporation
Weighted Average Number of Shares Outstanding, Basic			335,000,000					338,000,000
Potentially dilutive shares			2,000,000					2,000,000
Diluted, Weighted average number of shares outstanding			337,000,000					340,000,000
Anti-dilutive shares excluded from EPS							23,000,000	22,000,000
Accounting Standards Update 2016-09 | Retained Earnings
Cumulative adjustment for change in accounting principle	$ 66
SIRIUS XM
Share-based Compensation						$ 124	$ 109	$ 157
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition						2 years 6 months
SIRIUS XM | Accounting Standards Update 2014-09
New Accounting Pronouncement, Effect of Change on subscriber revenue					$ 90
Formula 1 | Braves Group
Investment Owned, Balance, Shares						9,084,940
Minimum
Typical length of subscription wiht new or leased vehicle with satellite radio						3 months
Minimum | Building and Improvements [Member]
Property, Plant and Equipment, Useful Life						10 years
Minimum | Equipment [Member]
Property, Plant and Equipment, Useful Life						3 years
Maximum
Typical length of subscription wiht new or leased vehicle with satellite radio						12 months
Maximum | Building and Improvements [Member]
Property, Plant and Equipment, Useful Life						40 years
Maximum | Equipment [Member]
Property, Plant and Equipment, Useful Life						20 years
Programming and content expense
Allocated Share-based Compensation Expense						$ 27	21	19
Customer service and billing
Allocated Share-based Compensation Expense						4	4	5
Other cost of subscriber services
Allocated Share-based Compensation Expense						5	5	8
Other Operating Income Expense [Member]
Allocated Share-based Compensation Expense						16	13	18
Selling, General and Administrative Expenses
Allocated Share-based Compensation Expense						$ 178	$ 107	$ 154

Supplemental Disclosures to C46

Supplemental Disclosures to Consolidated Statements of Cash Flows (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Fair value of assets acquired	$ (484)
Intangibles not subject to amortization	4,039
Intangibles subject to amortization	5,499
Net liabilities assumed	(5,035)
Deferred tax liabilities	(475)
Fair value of equity consideration	(1,790)
Payments to Acquire Businesses, Net of Cash Acquired	1,647
Stock repurchased by subsidiary not yet settled	17	$ 23	$ 24
Cash paid for interest, net of amount capitalized	561	327	295
Cash paid for income taxes	56	$ 69	$ 3
Delta Topco
Payments to Acquire Businesses, Net of Cash Acquired	$ 1,754

Acquisitions (Details)

Acquisitions (Details) $ / shares in Units, shares in Millions, $ in Millions	Jan. 23, 2017USD ($)$ / sharesshares	Sep. 07, 2016agreement	Sep. 07, 2016item	Sep. 07, 2016USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Nov. 08, 2016USD ($)	Oct. 27, 2016
Business Acquisition [Line Items]
Investments in and loans to cost and equity investees					$ 862	$ 784	$ 19
Borrowings of debt					6,697	2,745	2,213
Long-term debt					13,186	8,013
Outstanding principal					13,810
Delta Topco
Business Acquisition [Line Items]
Number Of Stock Purchase Agreements		2	2
Investment ownership percentage		20.00%	20.00%	20.00%
Investments in and loans to cost and equity investees				$ 746
Payments to Acquire Investments, gross				821
Investment Discount				$ 75
Diluted investment ownership percentage									19.10%
Business Acquisition, Percentage of Voting Interests Acquired	100.00%	20.00%	20.00%	20.00%
Enterprise Value	$ 8,000
Equity Value of Acquired Business	4,400
Consideration Amount	4,700
Payments to Acquire Businesses, Gross	3,050
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned	1,600
Consideration payable	$ 400
Formula One Group
Business Acquisition [Line Items]
Investments in and loans to cost and equity investees					9	764	19
Borrowings of debt					1,600	438	$ 38
Long-term debt					5,796	$ 1,583
Outstanding principal					$ 5,582
Common Class C | Delta Topco
Business Acquisition [Line Items]
Newly issued shares | shares	56
Treasury stock shares | shares	19
Per share price sold if not retained in treasury | $ / shares	$ 21.26
Common Class C | Formula One Group
Business Acquisition [Line Items]
Newly issued shares | shares	62
Value of shares issued to third parties	$ 1,550
Shares Issued, Price Per Share | $ / shares	$ 25
Decrease in the amount of acquisition | shares	62
Live Nation Margin Loan | Delta Topco
Business Acquisition [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity								$ 500
Borrowings of debt	$ 350
Liberty 1% Cash Convertible Notes Due 2023
Business Acquisition [Line Items]
Debt Instrument, Face Amount	$ 450
Debt Instrument, Interest Rate, Stated Percentage	1.00%
Liberty 1% Cash Convertible Notes Due 2023 | Delta Topco
Business Acquisition [Line Items]
Consideration payable	$ 400
Net proceeds	450
Delta Topco Exchangeable Notes | Delta Topco
Business Acquisition [Line Items]
Debt Instrument, Face Amount	$ 351
Debt Instrument, Interest Rate, Stated Percentage	2.00%

Acquisitions PPA (Details)

Acquisitions PPA (Details) - USD ($)	Jan. 23, 2017	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Business Acquisition [Line Items]
Goodwill		$ 18,383,000,000	$ 14,345,000,000	$ 14,345,000,000
Intangible assets subject to amortization, net		6,131,000,000	1,072,000,000
Formula 1
Business Acquisition [Line Items]
Fair value of ownership interest held prior to the Second Closing	$ 759,000,000
Controlling interest acquired	3,939,000,000
total acquisition price	4,698,000,000
Cash and cash equivalents	644,000,000
Receivables	136,000,000
Goodwill	3,956,000,000
Intangibles subject to amortization	5,484,000,000
Other assets	153,000,000
Deferred revenue	(141,000,000)
Debt	(4,528,000,000)
Other liabilities assumed	(516,000,000)
Deferred tax liabilities	(490,000,000)
Total Assets Acquired and Liabilities Assumed, Net	4,698,000,000
Acquired goodwill expected tax deductible amount		0
Other Assets Purchase Accounting Adjustment		22,000,000
Other Liabilities Purchase Accounting Adjustment		11,000,000
Goodwill, Allocation Adjustment		(12,000,000)
Deferred Tax Liabilities Purchase Accounting Adjustments		(1,000,000)
FIA Agreement
Business Acquisition [Line Items]
Intangible assets subject to amortization, net		3,473,000,000
FIA Agreement | Formula 1
Business Acquisition [Line Items]
Intangible assets subject to amortization, net	$ 3,600,000,000
Finite-Lived Intangible Asset, Useful Life	35 years
Customer Relationships
Business Acquisition [Line Items]
Intangible assets subject to amortization, net		$ 2,183,000,000	$ 602,000,000
Customer Relationships | Formula 1
Business Acquisition [Line Items]
Intangible assets subject to amortization, net	$ 1,900,000,000
Finite-Lived Intangible Asset, Useful Life	11 years 6 months

Acquisitions Pro Forma (Details

Acquisitions Pro Forma (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Business Acquisition [Line Items]
Net earnings (loss)	$ 1,429	$ 261	$ 156	$ 44	$ 186	$ 169	$ 142	$ 427	$ 1,890	$ 924	$ 248
Formula 1
Business Acquisition [Line Items]
Net earnings (loss)									261
Business Acquisition, Pro Forma Revenue									7,595	7,072
Business Acquisition, Pro Forma Net Income (Loss)									1,874	743
Net earnings (loss) attributable to Liberty stockholders									$ 1,338	$ 499

Assets And Liabilities Measur50

Assets And Liabilities Measured At Fair Value (Details) - USD ($) $ in Millions	Dec. 31, 2017	Dec. 31, 2016
Estimate of Fair Value Measurement [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	$ 804	$ 289
Available-for-sale securities	1,047	489
Financial instrument assets	369	286
Debt	2,115	1,546
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	804	289
Available-for-sale securities	467	489
Financial instrument assets	19	16
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	580
Financial instrument assets	350	270
Debt	$ 2,115	$ 1,546

Assets And Liabilities Measur51

Assets And Liabilities Measured At Fair Value - Realized and Unrealized Gains (Losses) on Financial Instruments (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Realized and unrealized gains (losses) on financial instruments, net	$ (88)	$ 37	$ (140)
Fair Value Option Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Realized and unrealized gains (losses) on financial instruments, net	(36)	112	(151)
Convertible Notes Payable | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Realized and unrealized gains (losses) on financial instruments, net	(126)	(113)	(5)
Bond Hedge Change in Fair Value | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Realized and unrealized gains (losses) on financial instruments, net	72	37	23
Other derivatives | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Realized and unrealized gains (losses) on financial instruments, net	$ 2	$ 1	$ (7)

Investments In Available-For-52

Investments In Available-For-Sale Securities And Other Cost Investments (Details) $ / shares in Units, $ in Millions	Sep. 22, 2017USD ($)$ / sharesshares	Dec. 31, 2017USD ($)item	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)
Transaction details [Line Items]
Investments in available-for-sale securities and other cost investments		$ 1,114	$ 1,309
Payments to Acquire Investments		862	784	$ 19
Unrealized Gain (Loss) on Securities		$ (88)	37	(140)
SIRIUS XM
Transaction details [Line Items]
Ownership Interest In Investee		70.00%
Pandora
Transaction details [Line Items]
Payments to Acquire Investments	$ 480
Pandora | SIRIUS XM
Transaction details [Line Items]
Ownership Interest In Investee	19.00%
Ownership percentage on an as-converted basis	16.00%
Convertible Preferred Stock, Price Per Share | $ / shares	$ 10.50
Convertible Preferred Stock, Shares Issued upon Conversion | shares	95.2381
Preferred Stock, Dividend Rate, Percentage	6.00%
Cost Method Investment Minimum Threshold Percentage Approved Issuance	19.99
Cost Method Investment Maximum Percentage Threshold For Conversion Of Preferred Shares	19.99%
Cost Method Investment, Number of Directors Designated | item		3
Cost Method Investment, Number of Directors Designated, Chairman | item		1
Unrealized Gain (Loss) on Securities		$ (17)
Pandora | SIRIUS XM | Minimum
Transaction details [Line Items]
Cost Method Investment, Minimum Ownerships Percentage for Director Designation, Converted Basis		50.00%
Cost Method Investment, Minimum Ownership Percentage for Designation of Two Directors, Converted Basis		75.00%
Other AFS Securities | Fair Value Option Securities
Transaction details [Line Items]
Investments in available-for-sale securities and other cost investments		$ 100
Liberty Sirius XM Group
Transaction details [Line Items]
Investments in available-for-sale securities and other cost investments		580
Payments to Acquire Investments		851
Unrealized Gain (Loss) on Securities		(16)
Liberty Sirius XM Group | Pandora | Fair Value Option Securities
Transaction details [Line Items]
Investments in available-for-sale securities and other cost investments		480
Braves Group
Transaction details [Line Items]
Investments in available-for-sale securities and other cost investments		8	8
Payments to Acquire Investments		2	20
Unrealized Gain (Loss) on Securities			1
Braves Group | AFS and cost method investments
Transaction details [Line Items]
Investments in available-for-sale securities and other cost investments		8	8
Formula One Group
Transaction details [Line Items]
Investments in available-for-sale securities and other cost investments		526	1,301
Payments to Acquire Investments		9	764	19
Unrealized Gain (Loss) on Securities		(72)	36	$ (140)
Formula One Group | Fair Value Option Securities
Transaction details [Line Items]
Investments in available-for-sale securities and other cost investments		467	489
Formula One Group | AFS and cost method investments
Transaction details [Line Items]
Investments in available-for-sale securities and other cost investments		59	812
Formula One Group | Time Warner Inc | Fair Value Option Securities
Transaction details [Line Items]
Investments in available-for-sale securities and other cost investments		389	411
Formula One Group | Formula 1 | AFS and cost method investments
Transaction details [Line Items]
Investments in available-for-sale securities and other cost investments			759
Formula One Group | Other AFS Securities | Fair Value Option Securities
Transaction details [Line Items]
Investments in available-for-sale securities and other cost investments		78	78
Formula One Group | Other AFS Securities | AFS and cost method investments
Transaction details [Line Items]
Investments in available-for-sale securities and other cost investments		$ 59	$ 53

Investments In Available-For-53

Investments In Available-For-Sale Securities And Other Cost Investments - Unrealized Holding Gains and Losses (Details) - USD ($)	Dec. 31, 2017	Dec. 31, 2016
Investments In Available-For-Sale Securities And Other Cost Investments
Gross unrealized holding gains	$ 0	$ 0
Gross unrealized holding losses	$ 0	$ 0

Investments In Affiliates Acc54

Investments In Affiliates Accounted For Using The Equity Method (Details) - USD ($) $ in Millions	Dec. 31, 2017	Dec. 31, 2016
Schedule of Equity Method Investments [Line Items]
Investments in affiliates, accounted for using the equity method	$ 1,750	$ 1,117
Liberty Sirius XM Group
Schedule of Equity Method Investments [Line Items]
Investments in affiliates, accounted for using the equity method	$ 672	164
Liberty Sirius XM Group | Sirius XM Canada
Schedule of Equity Method Investments [Line Items]
Percentage ownership	70.00%
Investments in affiliates, accounted for using the equity method	$ 672	164
Braves Group
Schedule of Equity Method Investments [Line Items]
Investments in affiliates, accounted for using the equity method	145	61
Braves Group | Other
Schedule of Equity Method Investments [Line Items]
Investments in affiliates, accounted for using the equity method	145	61
Formula One Group
Schedule of Equity Method Investments [Line Items]
Investments in affiliates, accounted for using the equity method	933	892
Formula One Group | Other
Schedule of Equity Method Investments [Line Items]
Investments in affiliates, accounted for using the equity method	$ 177	161
Formula One Group | Live Nation
Schedule of Equity Method Investments [Line Items]
Percentage ownership	34.00%
Equity Method Investment, Quoted Market Value	$ 2,965
Investments in affiliates, accounted for using the equity method	$ 756	$ 731
SIRIUS XM | Sirius XM Canada
Schedule of Equity Method Investments [Line Items]
Percentage ownership	70.00%

Investments In Affiliates Acc55

Investments In Affiliates Accounted For Using The Equity Method - Share Of Earnings (Losses) Of Affiliates (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Schedule of Equity Method Investments [Line Items]
Share of earnings (losses) of affiliates, net	$ 104	$ 14	$ (40)
Liberty Sirius XM Group
Schedule of Equity Method Investments [Line Items]
Share of earnings (losses) of affiliates, net	29	13	(1)
Liberty Sirius XM Group | Sirius XM Canada
Schedule of Equity Method Investments [Line Items]
Share of earnings (losses) of affiliates, net	29	13	(1)
Braves Group
Schedule of Equity Method Investments [Line Items]
Share of earnings (losses) of affiliates, net	78	9	9
Braves Group | Other
Schedule of Equity Method Investments [Line Items]
Share of earnings (losses) of affiliates, net	78	9	9
Braves Group | Braves Holdings
Schedule of Equity Method Investments [Line Items]
Share of earnings (losses) of affiliates, net	69
Formula One Group
Schedule of Equity Method Investments [Line Items]
Share of earnings (losses) of affiliates, net	(3)	(8)	(48)
Formula One Group | Live Nation
Schedule of Equity Method Investments [Line Items]
Share of earnings (losses) of affiliates, net	(18)	(12)	(27)
Formula One Group | Other
Schedule of Equity Method Investments [Line Items]
Share of earnings (losses) of affiliates, net	$ 15	$ 4	$ (21)

Investments In Affiliates Acc56

Investments In Affiliates Accounted For Using The Equity Method - Sirius XM Canada (Details) shares in Millions, CAD in Millions, $ in Millions	Dec. 31, 2017USD ($)	May 25, 2017CAD	Dec. 31, 2017USD ($)shares	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	May 25, 2017USD ($)
Schedule of Equity Method Investments [Line Items]
Gain (Loss) On Dilution Of Investment In Affiliate			$ 3		$ (1)
Deferred revenue	$ 1,941		1,941	$ 1,877
SIRIUS XM
Schedule of Equity Method Investments [Line Items]
Cash Dividends Paid to Parent Company			130
SIRIUS XM | Sirius XM Canada
Schedule of Equity Method Investments [Line Items]
Due to Related Parties	10		10	11
Due from Related Parties, Current	$ 10		10	6
Revenue from Related Parties			87	46	56
SIRIUS XM | Sirius XM Canada
Schedule of Equity Method Investments [Line Items]
Proceeds from Equity Method Investment, Dividends or Distributions			$ 4	$ 8	$ 16
Percentage ownership	70.00%		70.00%
Equity Method Investment Voting Interest	33.00%
Payments to Acquire Equity Method Investments			$ 130
Equity method investment consideration transferred			$ 309
Issuance of common stock related to investment in Sirius XM Canada (in shares) | shares			35
Equity method investment, consideration transferred, equity interests issued and issuable			$ 179
Equity Method Investment, Number of Preferred Shares Owned | shares			591
SIRIUS XM | Sirius XM Canada | Services Agreement
Schedule of Equity Method Investments [Line Items]
Related Party Transaction, Period Of Agreement		30 years
SIRIUS XM | Sirius XM Canada | Services Agreement, Years 1 through 5
Schedule of Equity Method Investments [Line Items]
Related Party Transaction, Payments Receivable, Percent of Gross Revenue		25.00%
SIRIUS XM | Sirius XM Canada | Services Agreement, Years 6 through 30
Schedule of Equity Method Investments [Line Items]
Related Party Transaction, Payments Receivable, Percent of Gross Revenue		30.00%
SIRIUS XM | Sirius XM Canada | Advisory Services Agreement
Schedule of Equity Method Investments [Line Items]
Related Party Transaction, Payments Receivable, Percent of Gross Revenue		5.00%
SIRIUS XM | Sirius XM Canada | Related Party 7.62% Loan
Schedule of Equity Method Investments [Line Items]
Notes Receivable, Related Parties, Noncurrent						$ 131
Notes receivable, related parties, maturity period		15 years
Related Party Transaction, Rate		7.62%
Notes Receivable, Related Parties, Annual Principal Repayment Period		60 days
Notes Receivable, Related Parties, Annual Prepayment Excess Cash Threshold | CAD		CAD 10

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets (Goodwill Rollforward) (Details) - USD ($) $ in Millions	Apr. 18, 2016	Dec. 31, 2017	Dec. 31, 2016
Goodwill [Roll Forward]
Goodwill, Beginning Balance		$ 14,345	$ 14,345
Acquisitions		4,038
Other
Goodwill, Ending Balance		18,383	14,345
Business acquisition
Purchase Price		1,647
SIRIUS XM
Goodwill [Roll Forward]
Goodwill, Beginning Balance		14,165	14,165
Acquisitions		82
Other
Goodwill, Ending Balance		14,247	14,165
Formula 1
Goodwill [Roll Forward]
Acquisitions		3,956
Goodwill, Ending Balance		3,956
Corporate And Other
Goodwill [Roll Forward]
Goodwill, Beginning Balance		180	180
Other
Goodwill, Ending Balance		$ 180	$ 180
Automatic Labs Inc. | SIRIUS XM
Goodwill [Roll Forward]
Acquisitions	$ 82
Business acquisition
Purchase Price	$ 108

Goodwill and Other Intangible58

Goodwill and Other Intangible Assets (Intangibles Not Subject to Amortization) (Details) - USD ($) $ in Millions	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
SIRIUS XM
Indefinite-lived Intangible Assets [Line Items]
Indefinite-Lived Trade Names	$ 931	$ 930
Braves Holdings
Indefinite-lived Intangible Assets [Line Items]
Indefinite-Lived Franchise Rights	$ 143	$ 143	$ 143

Goodwill and Other Intangible59

Goodwill and Other Intangible Assets (Amortizable Intangibles) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	$ 7,442	$ 1,832
Accumulated amortization	(1,311)	(760)
Finite-Lived Intangible Assets, Net, Total	6,131	1,072
Amortization of Intangible Assets	594	168	$ 155
2,018	611
2,019	598
2,020	502
2,021	469
2,022	433
FIA Agreement
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	3,630
Accumulated amortization	(157)
Finite-Lived Intangible Assets, Net, Total	3,473
Customer Relationships
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	2,684	830
Accumulated amortization	(501)	(228)
Finite-Lived Intangible Assets, Net, Total	$ 2,183	602
Customer Relationships | Minimum
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	10 years
Customer Relationships | Maximum
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	15 years
Licensing Agreements
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	$ 330	316
Accumulated amortization	(138)	(109)
Finite-Lived Intangible Assets, Net, Total	$ 192	207
Finite-Lived Intangible Asset, Useful Life	15 years
Other Intangible Assets
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	$ 798	686
Accumulated amortization	(515)	(423)
Finite-Lived Intangible Assets, Net, Total	$ 283	$ 263

Long-Term Debt (Details)

Long-Term Debt (Details) - USD ($) $ in Millions	Dec. 31, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Outstanding principal	$ 13,810
Total debt	13,954	$ 8,018
Less debt classified as current	(768)	(5)
Total long-term debt	$ 13,186	8,013
Sirius XM 5.75% Senior Notes Due 2021
Debt Instrument [Line Items]
Debt instrument interest rate	5.75%
Sirius XM 5.25% Senior Secured Notes due 2022
Debt Instrument [Line Items]
Debt instrument interest rate	5.25%
Sirius X M 4.25 Senior Notes Due 2020
Debt Instrument [Line Items]
Debt instrument interest rate	4.25%
Sirius XM 3.875% Senior Notes due 2022
Debt Instrument [Line Items]
Debt instrument interest rate	3.875%
Sirius X M 4.625 Senior Notes Due 2023
Debt Instrument [Line Items]
Debt instrument interest rate	4.625%
Sirius XM 6.00% Senior Notes Due 2024
Debt Instrument [Line Items]
Debt instrument interest rate	6.00%
Sirius XM 5.375% Senior Notes Due 2025
Debt Instrument [Line Items]
Debt instrument interest rate	5.375%
Sirius XM 5.375% Senior Notes due 2026
Debt Instrument [Line Items]
Debt instrument interest rate	5.375%
Sirius XM 5.0% Senior Notes due 2027 Member
Debt Instrument [Line Items]
Debt instrument interest rate	5.00%
1.375% Cash Convertible Senior Notes Due 2023
Debt Instrument [Line Items]
Debt instrument interest rate	1.375%
2.25% Exchangeable Senior Debentures due 2046
Debt Instrument [Line Items]
Debt instrument interest rate	2.25%
Bank loans
Debt Instrument [Line Items]
Outstanding principal	$ 3,302
Total debt	3,314
Liberty Sirius XM Group
Debt Instrument [Line Items]
Outstanding principal	7,561
Less deferred financing costs	(9)	(7)
Total debt	7,496	6,107
Less debt classified as current	(755)	(5)
Total long-term debt	6,741	6,102
Liberty Sirius XM Group | Margin loan
Debt Instrument [Line Items]
Outstanding principal	750
Total debt	750	250
Liberty Sirius XM Group | Sirius XM 5.75% Senior Notes Due 2021
Debt Instrument [Line Items]
Total debt		596
Liberty Sirius XM Group | Sirius XM 5.25% Senior Secured Notes due 2022
Debt Instrument [Line Items]
Total debt		405
Liberty Sirius XM Group | Sirius X M 4.25 Senior Notes Due 2020
Debt Instrument [Line Items]
Total debt		497
Liberty Sirius XM Group | Sirius XM 3.875% Senior Notes due 2022
Debt Instrument [Line Items]
Outstanding principal	1,000
Total debt	992
Liberty Sirius XM Group | Sirius X M 4.625 Senior Notes Due 2023
Debt Instrument [Line Items]
Outstanding principal	500
Total debt	497	496
Liberty Sirius XM Group | Sirius XM 6.00% Senior Notes Due 2024
Debt Instrument [Line Items]
Outstanding principal	1,500
Total debt	1,488	1,487
Liberty Sirius XM Group | Sirius XM 5.375% Senior Notes Due 2025
Debt Instrument [Line Items]
Outstanding principal	1,000
Total debt	991	990
Liberty Sirius XM Group | Sirius XM 5.375% Senior Notes due 2026
Debt Instrument [Line Items]
Outstanding principal	1,000
Total debt	990	989
Liberty Sirius XM Group | Sirius XM 5.0% Senior Notes due 2027 Member
Debt Instrument [Line Items]
Outstanding principal	1,500
Total debt	1,486
Liberty Sirius XM Group | Sirius XM Senior Secured Revolving Credit Facility
Debt Instrument [Line Items]
Outstanding principal	300
Total debt	300	390
Liberty Sirius XM Group | Sirius XM leases
Debt Instrument [Line Items]
Outstanding principal	11
Total debt	11	14
Braves Group
Debt Instrument [Line Items]
Outstanding principal	667
Less deferred financing costs	(5)	(10)
Total debt	662	328
Less debt classified as current	(13)
Total long-term debt	649	328
Braves Group | Notes and loans
Debt Instrument [Line Items]
Outstanding principal	667
Total debt	667	338
Formula One Group
Debt Instrument [Line Items]
Outstanding principal	5,582
Less deferred financing costs	(18)
Total debt	5,796	1,583
Total long-term debt	5,796	1,583
Formula One Group | 1.375% Cash Convertible Senior Notes Due 2023
Debt Instrument [Line Items]
Outstanding principal	1,000
Total debt	1,146	1,076
Formula One Group | Liberty 1% Cash Convertible Notes Due 2023
Debt Instrument [Line Items]
Outstanding principal	450
Total debt	$ 505
Debt instrument interest rate	1.00%
Formula One Group | 2.25% Exchangeable Senior Debentures due 2046
Debt Instrument [Line Items]
Outstanding principal	$ 445
Total debt	464	470
Formula One Group | Live Nation Margin Loan
Debt Instrument [Line Items]
Outstanding principal	350
Total debt	350
Formula One Group | Other Debt Obligations
Debt Instrument [Line Items]
Outstanding principal	35
Total debt	$ 35	$ 37

Long-Term Debt - Narrative (Det

Long-Term Debt - Narrative (Details)

Dec. 12, 2017

Sep. 01, 2017USD ($)

Aug. 04, 2017USD ($)

Jul. 27, 2017USD ($)

Jan. 23, 2017USD ($)$ / shares

Jan. 20, 2017USD ($)

Nov. 08, 2016USD ($)

Aug. 17, 2016USD ($)$ / sharesshares

Apr. 15, 2016shares

Oct. 31, 2016USD ($)

Oct. 31, 2015USD ($)

Oct. 31, 2014USD ($)

May 31, 2013USD ($)

Dec. 31, 2017USD ($)$ / sharesshares

Dec. 31, 2016USD ($)

Dec. 31, 2015USD ($)

Jul. 31, 2017USD ($)

May 31, 2016USD ($)

Jun. 30, 2015USD ($)

Mar. 31, 2015USD ($)

Dec. 31, 2014USD ($)$ / shares

May 31, 2014USD ($)

Oct. 17, 2013USD ($)

Aug. 31, 2013USD ($)

Aug. 31, 2012USD ($)

Debt Instrument [Line Items]

Long-term Debt

$ 13,954,000,000

$ 8,018,000,000

Debt, Current

$ 768,000,000

5,000,000

Warrant expiration period

81 days

Borrowings of debt

$ 6,697,000,000

2,745,000,000

$ 2,213,000,000

Repayments of Long-term Debt

5,107,000,000

1,749,000,000

$ 1,196,000,000

Loss on extinguishment of debt

(48,000,000)

(24,000,000)

1.375% Cash Convertible Senior Notes Due 2023

Debt Instrument [Line Items]

Debt face amount

$ 1,000,000,000

Debt Instrument, Interest Rate, Stated Percentage

1.375%

Debt instrument interest rate

1.375%

$500 Million Margin Loan due 2018

Debt Instrument [Line Items]

Debt Instrument, Collateral Amount

57,000,000

$750 million margin loan due 2018

Debt Instrument [Line Items]

Debt, Current

$ 750,000,000

Debt Instrument, Description of Variable Rate Basis

LIBOR

LIBOR

Effective interest rate

3.24%

Debt instrument, unused borrowing capacity, fee, percent

0.75%

$750 million margin loan due 2018 | LIBOR

Debt Instrument [Line Items]

Debt Instrument, Basis Spread on Variable Rate

1.75%

$750 million margin loan due 2018 | Term Loan

Debt Instrument [Line Items]

Debt face amount

$ 250,000,000

$ 250,000,000

$750 million margin loan due 2018 | Revolving Credit Facility

Debt Instrument [Line Items]

Debt face amount

$ 1,000,000,000

Debt instrument, unused borrowing capacity, fee, percent

0.75%

Line of Credit Facility, Remaining Borrowing Capacity

$ 500,000,000

Sirius X M 4.625 Senior Notes Due 2023

Debt Instrument [Line Items]

Debt Instrument, Basis Spread on Variable Rate

4.625%

Liberty 1% Cash Convertible Notes Due 2023

Debt Instrument [Line Items]

Debt face amount

$ 450,000,000

Debt Instrument, Interest Rate, Stated Percentage

1.00%

Debt instrument interest rate

1.00%

Conversion amount

$ 1,000

Minimum | $750 million margin loan due 2018

Debt Instrument [Line Items]

Debt Instrument, Basis Spread on Variable Rate

1.75%

Maximum | $750 million margin loan due 2018

Debt Instrument [Line Items]

Debt Instrument, Basis Spread on Variable Rate

2.25%

SIRIUS XM | $750 million margin loan due 2018

Debt Instrument [Line Items]

Margin loan | shares

1,138,400,000

Debt Instrument, Collateral Amount

$ 6,102,000,000

Live Nation | $500 Million Margin Loan due 2018

Debt Instrument [Line Items]

Line of Credit Facility, Remaining Borrowing Capacity

$ 150,000,000

Margin loan | shares

53,700,000

Debt Instrument, Collateral Amount

$ 2,288,000,000

Liberty Siri MarginCo, LLC | $750 million margin loan due 2018

Debt Instrument [Line Items]

Debt Instrument, Description of Variable Rate Basis

LIBOR

Liberty Siri MarginCo, LLC | $750 million margin loan due 2018 | Term Loan

Debt Instrument [Line Items]

Debt face amount

$ 250,000,000

Liberty Siri MarginCo, LLC | $750 million margin loan due 2018 | Revolving Credit Facility

Debt Instrument [Line Items]

Debt face amount

$ 750,000,000

Debt instrument, unused borrowing capacity, fee, percent

0.75%

Liberty Siri MarginCo, LLC | Minimum | $750 million margin loan due 2018

Debt Instrument [Line Items]

Debt Instrument, Basis Spread on Variable Rate

1.75%

Liberty Siri MarginCo, LLC | Maximum | $750 million margin loan due 2018

Debt Instrument [Line Items]

Debt Instrument, Basis Spread on Variable Rate

2.50%

LMC LYV, LLC | $500 Million Margin Loan due 2018

Debt Instrument [Line Items]

Debt face amount

$ 500,000,000

Debt Instrument, Description of Variable Rate Basis

LIBOR

LIBOR

Proceeds from Issuance of Secured Debt

$ 350,000,000

Effective interest rate

3.23%

Debt instrument, unused borrowing capacity, fee, percent

0.60%

0.75%

Debt Instrument, Term

2 years

LMC LYV, LLC | $500 Million Margin Loan due 2018 | LIBOR

Debt Instrument [Line Items]

Debt Instrument, Basis Spread on Variable Rate

2.25%

LMC LYV, LLC | Live Nation | $500 Million Margin Loan due 2018

Debt Instrument [Line Items]

Debt Instrument, Basis Spread on Variable Rate

1.90%

SIRIUS XM | Sirius XM Senior Secured Revolving Credit Facility

Debt Instrument [Line Items]

Line of Credit Facility, Remaining Borrowing Capacity

$ 1,450,000,000

SIRIUS XM | Sirius XM 5.25% Senior Secured Notes due 2022

Debt Instrument [Line Items]

Debt face amount

$ 400,000,000

Debt Instrument, Interest Rate, Stated Percentage

5.25%

Repayments of Long-term Debt

$ 411,000,000

Loss on extinguishment of debt

$ 14,000,000

Debt instrument interest rate

5.25%

SIRIUS XM | Sirius XM Senior Secured Revolving Credit Facility

Debt Instrument [Line Items]

Effective interest rate

3.30%

Debt instrument, unused borrowing capacity, fee, percent

0.25%

Line of Credit Facility, Maximum Borrowing Capacity

$ 1,750,000,000

SIRIUS XM | Sirius X M 4.25 Senior Notes Due 2020

Debt Instrument [Line Items]

Debt Instrument, Interest Rate, Stated Percentage

4.25%

Repayments of Long-term Debt

$ 510,000,000

Loss on extinguishment of debt

$ 8,000,000

Debt instrument interest rate

4.25%

SIRIUS XM | Sirius X M 4.25 Senior Notes Due 2020 | Senior Notes

Debt Instrument [Line Items]

Debt face amount

$ 500,000,000

SIRIUS XM | Sirius X M 4.625 Senior Notes Due 2023

Debt Instrument [Line Items]

Debt face amount

500,000,000

SIRIUS XM | Sirius XM Senior Notes Due 2020 And 2023

Debt Instrument [Line Items]

Borrowings of debt

$ 989,000,000

SIRIUS XM | Sirius XM 5.75% Senior Notes Due 2021

Debt Instrument [Line Items]

Debt face amount

$ 600,000,000

Long-term Debt

$ 594,000,000

Debt Instrument, Interest Rate, Stated Percentage

5.75%

Repayments of Long-term Debt

$ 618,000,000

Loss on extinguishment of debt

$ 21,000,000

Debt instrument interest rate

5.75%

SIRIUS XM | Sirius XM 6.00% Senior Notes Due 2024

Debt Instrument [Line Items]

Debt face amount

$ 1,500,000,000

Debt Instrument, Interest Rate, Stated Percentage

6.00%

Debt instrument interest rate

6.00%

SIRIUS XM | Sirius XM 5.375% Senior Notes Due 2025

Debt Instrument [Line Items]

Debt face amount

$ 1,000,000,000

Debt discount

$ 11,000,000

Debt Instrument, Interest Rate, Stated Percentage

5.375%

Debt instrument interest rate

5.375%

SIRIUS XM | Sirius XM 5.375% Senior Notes due 2026

Debt Instrument [Line Items]

Debt face amount

$ 1,000,000,000

Debt discount

$ 11,000,000

Debt Instrument, Interest Rate, Stated Percentage

5.375%

Debt instrument interest rate

5.375%

SIRIUS XM | Sirius XM 3.875% Senior Notes due 2022

Debt Instrument [Line Items]

Debt face amount

$ 1,000,000,000

Debt Instrument, Interest Rate, Stated Percentage

3.875%

Debt instrument interest rate

3.875%

SIRIUS XM | Sirius XM 5.00% Senior Notes due 2027

Debt Instrument [Line Items]

Debt face amount

$ 1,500,000,000

Debt Instrument, Interest Rate, Stated Percentage

5.00%

Debt instrument interest rate

5.00%

Delta Topco

Debt Instrument [Line Items]

Consideration payable

400,000,000

Delta Topco | Liberty 1% Cash Convertible Notes Due 2023

Debt Instrument [Line Items]

Consideration payable

400,000,000

Delta Topco | Live Nation Margin Loan

Debt Instrument [Line Items]

Borrowings of debt

$ 350,000,000

Line of Credit Facility, Maximum Borrowing Capacity

$ 500,000,000

Delta Topco | Delta Topco Limited Exchangeable Redeemable Loan Notes

Debt Instrument [Line Items]

Debt Instrument, Interest Rate, Stated Percentage

2.00%

Debt instrument interest rate

2.00%

Common Class A | 1.375% Convertible Notes Bond Hedge Transaction

Debt Instrument [Line Items]

Securities Basket price per share | $ / shares

$ 50.24

Common Class A | Warrant transaction

Debt Instrument [Line Items]

Securities Basket price per share | $ / shares

50.24

Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares

$ 61.16

Liberty Media Corporation | 2.25% Exchangeable Senior Debentures due 2046

Debt Instrument [Line Items]

Debt face amount

$ 445,000,000

Debt Instrument, Interest Rate, Stated Percentage

2.25%

Debt instrument interest rate

2.25%

Liberty Media Corporation | Time Warner, Inc. | 2.25% Exchangeable Senior Debentures due 2046

Debt Instrument [Line Items]

Shares underlying the debentures | shares

4,250,000

Liberty Media Corporation | Time Warner, Inc. | 2.25% Exchangeable Senior Debentures due 2046 | Senior Notes

Debt Instrument [Line Items]

Exchange Price of Shares Attributable to Debentures | $ / shares

$ 104.55

Liberty Media Corporation | Common Class A | 1.375% Cash Convertible Senior Notes Due 2023

Debt Instrument [Line Items]

Debt instrument, face amount per debenture

$ 1,000

Debt Instrument, Convertible, Conversion Ratio

21.0859

conversion price for exchangeable debt | $ / shares

$ 47.43

Liberty Sirius XM Group

Debt Instrument [Line Items]

Long-term Debt

$ 7,496,000,000

6,107,000,000

Debt, Current

755,000,000

5,000,000

Number of tracking stock shares received in the Recapitalization for one share of Liberty Media common stock | shares

1

Borrowings of debt

4,553,000,000

1,847,000,000

$ 1,978,000,000

Repayments of Long-term Debt

3,216,000,000

1,471,000,000

1,038,000,000

Loss on extinguishment of debt

(35,000,000)

(24,000,000)

Liberty Sirius XM Group | Sirius XM Senior Secured Revolving Credit Facility

Debt Instrument [Line Items]

Long-term Debt

300,000,000

390,000,000

Liberty Sirius XM Group | Common Class A

Debt Instrument [Line Items]

Securities basket conversion ratio from shares of Liberty Media Corporation common stock

1

Liberty Sirius XM Group | Common Class A | 1.375% Convertible Notes Bond Hedge Transaction

Debt Instrument [Line Items]

Forward contract, number of underlying shares | shares

21,085,900

Liberty Sirius XM Group | Common Class A | Warrant transaction

Debt Instrument [Line Items]

Class of Warrant or Right, Outstanding | shares

21,085,900

Braves Group

Debt Instrument [Line Items]

Long-term Debt

662,000,000

328,000,000

Debt, Current

13,000,000

Number of tracking stock shares received in the Recapitalization for one share of Liberty Media common stock | shares

0.1

Borrowings of debt

544,000,000

460,000,000

197,000,000

Repayments of Long-term Debt

218,000,000

276,000,000

158,000,000

Loss on extinguishment of debt

$ (5,000,000)

Braves Group | Common Class A

Debt Instrument [Line Items]

Securities basket conversion ratio from shares of Liberty Media Corporation common stock

0.10

0.1087

Braves Group | Common Class A | 1.375% Convertible Notes Bond Hedge Transaction

Debt Instrument [Line Items]

Forward contract, number of underlying shares | shares

2,108,590

2,292,037

Braves Group | Common Class A | Warrant transaction

Debt Instrument [Line Items]

Class of Warrant or Right, Outstanding | shares

2,108,590

2,292,037

Formula One Group

Debt Instrument [Line Items]

Long-term Debt

$ 5,796,000,000

1,583,000,000

Number of tracking stock shares received in the Recapitalization for one share of Liberty Media common stock | shares

0.25

Borrowings of debt

1,600,000,000

438,000,000

$ 38,000,000

Repayments of Long-term Debt

1,673,000,000

$ 2,000,000

Loss on extinguishment of debt

$ (8,000,000)

Formula One Group | Common Class A

Debt Instrument [Line Items]

Securities basket conversion ratio from shares of Liberty Media Corporation common stock

0.25

Formula One Group | Common Class A | 1.375% Convertible Notes Bond Hedge Transaction

Debt Instrument [Line Items]

Forward contract, number of underlying shares | shares

5,271,475

Formula One Group | Common Class A | Warrant transaction

Debt Instrument [Line Items]

Class of Warrant or Right, Outstanding | shares

5,271,475

Formula One Group | Common Class C | 1.375% Cash Convertible Senior Notes Due 2023

Debt Instrument [Line Items]

Debt Instrument, Convertible, Conversion Ratio

27.1091

Formula One Group | Common Class C | Liberty 1% Cash Convertible Notes Due 2023

Debt Instrument [Line Items]

conversion price for exchangeable debt | $ / shares

$ 36.89

Long-Term Debt - Braves Holding

Long-Term Debt - Braves Holdings Notes (Details) shares in Thousands, $ in Millions	Dec. 31, 2017USD ($)shares	Dec. 31, 2017USD ($)shares	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2014a
Debt Instrument [Line Items]
Outstanding principal	$ 13,810	$ 13,810
Long-term Debt	$ 13,954	13,954	$ 8,018
Borrowings of debt		6,697	2,745	$ 2,213
Related Party Transaction, Amounts of Transaction		24	21	$ 23
Fair Value of Assets Acquired		$ 484
Mixed Use Credit Facilities | Time Warner Inc
Debt Instrument [Line Items]
Shares pledged as collateral under loan | shares	464	464
Share value	$ 42	$ 42
Ballpark
Debt Instrument [Line Items]
Construction and Development Costs		722
Mixed Use Development
Debt Instrument [Line Items]
Expected cost of new facility	419	558
Braves Holdings
Debt Instrument [Line Items]
Area of land acquired (in acres) | a					82
Long-term Debt	667	667	338
Line of Credit Facility, Maximum Borrowing Capacity	$ 792	$ 792
Braves Holdings | Senior Secured Notes
Debt Instrument [Line Items]
Effective interest rate	3.77%	3.77%
Long-term Debt	$ 200	$ 200	200
Line of Credit Facility, Maximum Borrowing Capacity	$ 200	$ 200
Braves Holdings | Floating Rate Notes
Debt Instrument [Line Items]
Effective interest rate	3.06%	3.06%
Long-term Debt	$ 75	$ 75
Line of Credit Facility, Maximum Borrowing Capacity	$ 75	$ 75
Braves Holdings | Revolving Credit Facility | Operating Credit Facilities
Debt Instrument [Line Items]
Effective interest rate	2.43%	2.43%
Long-term Debt	$ 98	$ 98	61
Line of Credit Facility, Maximum Borrowing Capacity	$ 185	$ 185
Braves Holdings | Revolving Credit Facility | Mixed Use Credit Facilities
Debt Instrument [Line Items]
Effective interest rate	3.85%	3.85%
Long-term Debt	$ 200	$ 200	67
Line of Credit Facility, Maximum Borrowing Capacity	$ 237	$ 237
Braves Holdings | Revolving Credit Facility | Spring Training Credit Facility
Debt Instrument [Line Items]
Effective interest rate	2.56%	2.56%
Long-term Debt	$ 39	$ 39
Line of Credit Facility, Maximum Borrowing Capacity	$ 40	$ 40
Braves Holdings | Term Loan | Term Loan
Debt Instrument [Line Items]
Effective interest rate	3.06%	3.06%
Long-term Debt	$ 55	$ 55	$ 10
Line of Credit Facility, Maximum Borrowing Capacity	55	55
Braves Holdings | Ballpark
Debt Instrument [Line Items]
Construction and Development Costs		330
Braves Holdings | Mixed Use Development
Debt Instrument [Line Items]
Expected cost of new facility		470
Construction and Development Costs	388
Proceeds from equity issuance to fund new facility	200	188
Proceeds from debt issuance to fund new facility	$ 270	200
Cobb Marietta Coliseum And Exhibit Hall Authority | Ballpark
Debt Instrument [Line Items]
Construction and Development Costs		$ 392

Formula 1 Debt (Details)

Formula 1 Debt (Details) - USD ($) $ in Millions	Jan. 31, 2018	Jun. 30, 2017	Jan. 23, 2017	Nov. 30, 2017	Sep. 30, 2017	May 31, 2017	Mar. 31, 2017	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Aug. 03, 2017	Aug. 02, 2017	Dec. 31, 2014
Debt Instrument [Line Items]
Long-term Debt								$ 13,954	$ 8,018
Borrowings of debt								6,697	2,745	$ 2,213
Repayments of Long-term Debt								5,107	1,749	1,196
Cash and cash equivalents								$ 1,029	562	201			$ 681
Proceeds from Liberty Braves common stock rights offering									203
Formula 1 | Senior Loan Facilities
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity											$ 500	$ 75
Formula 1 | First lien loan USD Tranche
Debt Instrument [Line Items]
Long-term Debt	$ 2,900										$ 3,300	$ 3,100
Repayments of Long-term Debt	400						$ 628
Line of Credit	250
Cash and cash equivalents	$ 150
Debt Instrument, Basis Spread on Variable Rate	2.50%		3.75%		3.00%		3.25%
Effective interest rate								4.57%
Formula 1 | First lien term loan Euro Tranche
Debt Instrument [Line Items]
Repayments of Long-term Debt		$ 42
Formula 1 | Second Lien Facility
Debt Instrument [Line Items]
Long-term Debt			$ 1,000
Formula 1 | Delta Topco Limited Exchangeable Redeemable Loan Notes
Debt Instrument [Line Items]
Repayments of Long-term Debt				$ 27	$ 323
Formula 1 | Interest Rate Swap | First lien loan USD Tranche
Debt Instrument [Line Items]
Notional Amount of Interest Rate Cash Flow Hedge Derivatives								$ 2,500
Formula 1 | Minimum | First lien loan USD Tranche
Debt Instrument [Line Items]
Debt Instrument, Description of Variable Rate Basis							1%
Common Class C | Formula 1 | Delta Topco Limited Exchangeable Redeemable Loan Notes
Debt Instrument [Line Items]
Stock Issued During Period, Shares, Conversion of Convertible Securities				1,200,000	14,500,000
Formula One Group
Debt Instrument [Line Items]
Long-term Debt								5,796	1,583
Borrowings of debt								1,600	438	38
Repayments of Long-term Debt								1,673	2
Cash and cash equivalents								282	$ 168	$ 76			$ 522
Formula One Group | Formula 1
Debt Instrument [Line Items]
Cash and cash equivalents								$ 165
Formula One Group | Common Class C
Debt Instrument [Line Items]
Common Stock, Shares, Issued						12,900,000		202,720,588	55,737,179
Proceeds from Liberty Braves common stock rights offering						$ 388

Debt - Five Year Maturities (De

Debt - Five Year Maturities (Details) $ in Millions	Dec. 31, 2017USD ($)
Debt
2,018	$ 770
2,019	544
2,020	437
2,021	59
2,022	$ 1,052

Long-Term Debt - Fair Value of

Long-Term Debt - Fair Value of Debt (Details) - USD ($) $ in Millions	Dec. 31, 2017	Dec. 31, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term Debt, Fair Value	$ 2,115	$ 1,546
Sirius XM 3.875% Senior Notes due 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term Debt, Fair Value	1,002
Sirius X M 4.625 Senior Notes Due 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term Debt, Fair Value	510
Sirius XM 6.00% Senior Notes Due 2024
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term Debt, Fair Value	1,587
Sirius XM 5.375% Senior Notes Due 2025
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term Debt, Fair Value	1,038
Sirius XM 5.375% Senior Notes due 2026
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term Debt, Fair Value	1,039
Sirius XM 5.0% Senior Notes due 2027 Member
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term Debt, Fair Value	$ 1,500

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Income Tax Expense (Benefit) [Abstract]
Federal	$ 38	$ (39)	$ (17)
State and local	(30)	(29)	(17)
Foreign	(9)		(1)
Current Income Tax Expense (Benefit)	(1)	(68)	(35)
Federal	578	(388)	(145)
State and local	(21)	(39)	(30)
Foreign	507
Deferred Income Tax Expense (Benefit), Total	1,064	(427)	(175)
Income tax benefit (expense)	$ 1,063	$ (495)	$ (210)

Income Taxes - Effective Income

Income Taxes - Effective Income Tax Rate, Tax Rate Reconciliation (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Effective Income Tax Rate, Continuing Operations, Tax Rate Reconciliation [Abstract]
Tax cuts and jobs act of 2017 transition tax period		8 years
Computed expected tax benefit (expense)		$ (289)	$ (497)	$ (160)
State and local income taxes, net of federal income taxes		(37)	(46)	(1)
Foreign income taxes, net of federal income taxes		88
Dividends received deductions		38	11	2
Taxable dividends not recognized for book purposes		(45)	(11)
Federal tax credits		22	67
Change in valuation allowance affecting tax expense		212	(1)	(44)
Change in tax rate due to Tax Act		929
Settlements with tax authorities		253
Income Tax Reserves		(22)
Non-Deductible Non-Taxable Interest		(60)
Write-off of Tax attributes		(42)
Other, net		16	(18)	(7)
Income tax (expense) benefit		$ 1,063	$ (495)	$ (210)
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent		35.00%
Forecast
Effective Income Tax Rate, Continuing Operations, Tax Rate Reconciliation [Abstract]
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21.00%

Income Taxes - Tax Effects And

Income Taxes - Tax Effects And Reconciliation Of Unrecognized Tax Benefits (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Deferred Income Taxes and Tax Credits [Abstract]
Net operating and capital loss carryforwards	$ 1,017	$ 1,381
Accrued stock compensation	88	136
Other accrued liabilities	175	102
Deferred revenue	502	761
Deferred Tax Asset Discount on debt	26
Other future deductible amounts	22	20
Deferred tax assets	1,830	2,400
Valuation allowance	(112)	(50)
Net deferred tax assets	1,718	2,350
Investments	110	81
Fixed assets	326	330
Intangible assets	2,760	3,961
Discount on debt		3
Deferred tax liabilities	3,196	4,375
Net deferred tax liabilities	1,478	2,025
Valuation Allowances and Reserves, Period Increase (Decrease)	62
Income Tax Uncertainties [Abstract]
Unrecognized Tax Benefits, Beginning Balance	304	254	$ 2
Reduction for tax positions of prior years	(1)	(1)
Increase in tax positions for current year	16	51
Increase in tax positions from prior years	37		252
Decrease due to Settlements With Taxing Authorities	(423)
Increase in tax positions from acquisition	432
Unrecognized Tax Benefits, Ending Balance	365	$ 304	$ 254
Unrecognized Tax Benefits that Would Impact Effective Tax Rate	257
Unrecognized Tax Benefits Allowance	365
Formula 1
Deferred Income Taxes and Tax Credits [Abstract]
Valuation Allowances and Reserves, Period Increase (Decrease)	274
Maximum
Income Tax Uncertainties [Abstract]
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued	1
SIRIUS XM
Deferred Income Taxes and Tax Credits [Abstract]
Net operating and capital loss carryforwards	415
Operating Loss Carryforwards	$ 1,977

Stockholders' Equity (Details)

Stockholders' Equity (Details) $ / shares in Units, $ in Millions	Jan. 23, 2018$ / shares	Nov. 30, 2016USD ($)	Oct. 26, 2016$ / shares	Jul. 23, 2014shares	Dec. 31, 2017USD ($)Vote / shares$ / sharesshares	Dec. 31, 2016USD ($)shares	Dec. 31, 2015USD ($)shares	Dec. 31, 2017USD ($)shares
Preferred stock, shares issued | shares					0	0		0
Stock Repurchased and Retired During Period, Shares | shares					0	0	9,200,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Total Intrinsic Value | $					$ 31	$ 24	$ 40
Payments for Repurchase of Common Stock | $							$ 350
Braves Group
Stock reserved for future issuance | shares					1,400,000			1,400,000
Liberty Sirius XM Group
Stock reserved for future issuance | shares					13,000,000			13,000,000
Common Class A
Votes per share | Vote / shares					1
Number of shares received in exchange for a share of Series B | shares					1
Common Class B
Votes per share | Vote / shares					10
Common Class C
Votes per share | Vote / shares					0
Common Class C | Liberty Media Corporation
Number of Shares Issued During The Period For Each Share of Series A and Series B Stock Held By Shareholders Prior To The Distribution | shares				2
SIRIUS XM
Stock Repurchased and Retired During Period, Shares | shares								2,500,000,000
Payments for Repurchase of Common Stock | $								$ 9,400
Common Stock, Dividends, Per Share, Declared | $ / shares	$ 0.011				$ 0.044
Payments of Dividends | $					$ 190
Cash Dividends Paid to Parent Company | $					$ 130
SIRIUS XM | Quarterly
Common Stock, Dividends, Per Share, Declared | $ / shares			$ 0.01
Payments of Dividends | $		$ 48
Cash Dividends Paid to Parent Company | $		$ 32

Related Party Transactions wi70

Related Party Transactions with Officers and Directors (Details) - USD ($) $ / shares in Units, shares in Thousands	1 Months Ended	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2017	Dec. 31, 2015	Dec. 31, 2016
CEO
Employment agreement term	5 years
Officers' Compensation	$ 960,750
Annual base salary increase	5.00%
Annual target cash bonus	250.00%
Termination Benefits Scenario Without Cause Or Good Reason [Member] | CEO
Severance payment multiple	1.5
Pro rated severance payment	$ 11,750,000
Fixed severance payments	$ 17,500,000
Additional vesting added upon termination	18 months
Termination Benefits Scenario With No Good Reason [Member] | CEO
Pro rated severance payment	$ 11,750,000
Termination Benefits Scenario For Death Or Disability [Member] | CEO
Severance payment multiple	1.5
Pro rated severance payment	$ 11,750,000
Fixed severance payments	$ 17,500,000
Common Class C | Formula One Group
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures		2,339
Common Stock, Par or Stated Value Per Share		$ 0.01		$ 0.01
Performance Options And Performance Based Restricted Stock Units [Member] | CEO
Target Allocation [Abstract]
2,015			$ 16,000,000
2,016			17,000,000
2,017			18,000,000
2,018			19,000,000
2,019			$ 20,000,000
Maximum percentage of target awards issued for performance options and RSUs			50.00%
Performance Options And Performance Based Restricted Stock Units [Member] | Common Class C | Formula One Group | CEO
Term of option			7 years

Related Party Transactions wi71

Related Party Transactions with Officers and Directors - Chairman's Employment Agreement (Details) - Chairman - USD ($)	1 Months Ended	12 Months Ended
	Dec. 31, 2008	Dec. 31, 2015	Dec. 31, 2009
Deferred compensation installments	240 months		240 months
8% Plan
Accrued Interest Rate per Annum compounded annually from applicable date of deferral	8.00%
Deferred Compensation Liability, Current and Noncurrent	$ 2,400,000
Deferred Compensation Arrangement with Individual, Distributions Paid		$ 20,000
13% plan
Accrued Interest Rate per Annum compounded annually from applicable date of deferral	13.00%
Deferred Compensation Liability, Current and Noncurrent	$ 20,000,000
Deferred Compensation Arrangement with Individual, Distributions Paid		237,000
Salary Continuation Plan
Accrued Interest Rate per Annum compounded annually from applicable date of deferral			12.00%
Deferred Compensation Liability, Current and Noncurrent	$ 39,000,000
Base amount per month under salary continuation plan			$ 15,000
Deferred Compensation Arrangement with Individual, Distributions Paid		$ 164,000

Stock-Based Compensation (Detai

Stock-Based Compensation (Details) - USD ($) $ / shares in Units, $ in Millions	Jul. 23, 2014	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2017
Total unrecognized compensation cost related to unvested equity awards		$ 30			$ 30
Weighted average period of recognition related to unvested equity awards (in years)		1 year 8 months 12 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Total Intrinsic Value		$ 31	$ 24	$ 40
2013 Plan
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized		50,000,000			50,000,000
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate		0.00%	0.00%	0.00%
Minimum | 2013 Plan
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period		4 years
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period		7 years
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term					3 years 6 months
Maximum | 2013 Plan
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period		5 years
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period		10 years
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term					6 years 8 months 12 days
Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate, Minimum		22.60%	22.60%	24.70%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate, Maximum		29.80%	26.80%	36.70%
Employee Stock Option | Formula 1 employees [member]
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period		1 year
Employee Stock Option | Liberty employees
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period		3 years
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period		5 years
Employee Stock Option | Liberty Director
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period		1 year
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Total Fair Value		$ 85	$ 7	$ 2
Liberty Sirius XM Group
Common Stock, Capital Shares Reserved for Future Issuance		13,000,000			13,000,000
Liberty Sirius XM Group | Common Class C
Options granted		1,183,000
Liberty Sirius XM Group | CEO | Common Class C
Options granted		920,000
Weighted average grant-date fair value		$ 8.50
Liberty Sirius XM Group | Employee Stock Option | 2013 Plan | Liberty employees and directors [member] | Common Class C
Options granted		263,000	415,000
Weighted average grant-date fair value		$ 10.39	$ 7.50
Liberty Sirius XM Group | Restricted Stock
Restricted stock weighted average grant-date fair value		$ 25.30			$ 25.30
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number		229,000			229,000
Braves Group
Common Stock, Capital Shares Reserved for Future Issuance		1,400,000			1,400,000
Braves Group | Common Class C
Options granted		184,000
Braves Group | CEO | Common Class C
Options granted		149,000
Weighted average grant-date fair value		$ 6.02
Braves Group | Employee Stock Option | 2013 Plan | Liberty employees and directors [member] | Common Class C
Options granted		35,000	41,000
Weighted average grant-date fair value		$ 6.14	$ 3.79
Braves Group | Restricted Stock
Restricted stock weighted average grant-date fair value		$ 17.04			$ 17.04
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number		26,000			26,000
Liberty Media Corporation | Common Class C
Number of Shares Issued During The Period For Each Share of Series A and Series B Stock Held By Shareholders Prior To The Distribution	2
Liberty Media Corporation | CEO | Common Class C
Options granted			775,000	420,000
Weighted average grant-date fair value			$ 8.91	$ 12.15
Performance based restricted stock granted shares			39,000	34,000
Performance based restricted stock unit grant date fair value			$ 37.76	$ 38.20
Liberty Media Corporation | Employee Stock Option | 2013 Plan | Liberty employees and directors [member] | Common Class C
Options granted			10,000	2,056,000
Weighted average grant-date fair value			$ 8.33	$ 13.62
Formula One Group
Common Stock, Capital Shares Reserved for Future Issuance		5,200,000			5,200,000
Formula One Group | Common Class C
Options granted		2,339,000
Formula One Group | CEO | Common Class C
Performance based restricted stock granted shares		50,000
Performance based restricted stock unit grant date fair value		$ 33.92
Formula One Group | Formula 1 employees [member] | Common Class C
Options granted		2,015,000
Weighted average grant-date fair value		$ 8.16
Formula One Group | Liberty employees and directors [member] | Common Class C
Options granted		153,000	101,000
Weighted average grant-date fair value		$ 9.42	$ 4.89
Formula One Group | Employee Stock Option | 2013 Plan | CEO | Common Class C
Options granted		171,000
Weighted average grant-date fair value		$ 8.96
Formula One Group | Restricted Stock
Restricted stock weighted average grant-date fair value		$ 28.43			$ 28.43
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number		137,000			137,000

Stock-Based Compensation - Libe

Stock-Based Compensation - Liberty - Outstanding Awards (Details) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2017USD ($)$ / sharesshares
Common Class B
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Outstanding options, Beginning Balance	0
Outstanding options, Ending Balance
Liberty Sirius XM Group | Common Class A
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Outstanding options, Beginning Balance	2,018,000
Options exercised	(392,000)
Outstanding options, Ending Balance	1,626,000
Exercisable options	1,615,000
Outstanding WAEP, Beginning of period | $ / shares	$ 19.39
WAEP exercised | $ / shares	17.74
Outstanding WAEP, End of period | $ / shares	19.78
Exercisable WAEP | $ / shares	$ 19.73
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Remaining Contractual Term	2 years
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term	2 years
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Aggregate Intrinsic Value | $	$ 32
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Aggregate Intrinsic Value | $	$ 32
Liberty Sirius XM Group | Common Class C
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Outstanding options, Beginning Balance	11,008,000
Options granted	1,183,000
Options exercised	(810,000)
Options forfeited/cancelled	(53,000)
Outstanding options, Ending Balance	11,328,000
Exercisable options	5,882,000
Outstanding WAEP, Beginning of period | $ / shares	$ 25.91
WAEP granted | $ / shares	37.65
WAEP exercised | $ / shares	18.14
Forfeited/Cancelled, WAEP | $ / shares	32.74
Outstanding WAEP, End of period | $ / shares	27.66
Exercisable WAEP | $ / shares	$ 25.77
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Remaining Contractual Term	4 years 1 month 6 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term	3 years 7 months 6 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Aggregate Intrinsic Value | $	$ 136
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Aggregate Intrinsic Value | $	$ 82
Braves Group | Common Class A
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Outstanding options, Beginning Balance	189,000
Options exercised	(10,000)
Outstanding options, Ending Balance	179,000
Exercisable options	178,000
Outstanding WAEP, Beginning of period | $ / shares	$ 11.30
WAEP exercised | $ / shares	8.83
Outstanding WAEP, End of period | $ / shares	11.43
Exercisable WAEP | $ / shares	$ 11.41
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Remaining Contractual Term	2 years
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term	2 years
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Aggregate Intrinsic Value | $	$ 2
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Aggregate Intrinsic Value | $	$ 2
Braves Group | Common Class C
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Outstanding options, Beginning Balance	1,073,000
Options granted	184,000
Options exercised	(21,000)
Options forfeited/cancelled	(5,000)
Outstanding options, Ending Balance	1,231,000
Exercisable options	686,000
Outstanding WAEP, Beginning of period | $ / shares	$ 14.92
WAEP granted | $ / shares	23.37
WAEP exercised | $ / shares	9.05
Forfeited/Cancelled, WAEP | $ / shares	19.01
Outstanding WAEP, End of period | $ / shares	16.27
Exercisable WAEP | $ / shares	$ 15.71
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Remaining Contractual Term	4 years 1 month 6 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term	3 years 8 months 12 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Aggregate Intrinsic Value | $	$ 8
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Aggregate Intrinsic Value | $	$ 5
Formula One Group | Common Class A
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Outstanding options, Beginning Balance	455,000
Options exercised	(55,000)
Outstanding options, Ending Balance	400,000
Exercisable options	397,000
Outstanding WAEP, Beginning of period | $ / shares	$ 11.55
WAEP exercised | $ / shares	10.55
Outstanding WAEP, End of period | $ / shares	11.69
Exercisable WAEP | $ / shares	$ 11.66
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Remaining Contractual Term	2 years
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term	2 years
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Aggregate Intrinsic Value | $	$ 8
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Aggregate Intrinsic Value | $	$ 8
Formula One Group | Common Class C
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Outstanding options, Beginning Balance	2,611,000
Options granted	2,339,000
Options exercised	(177,000)
Options forfeited/cancelled	(13,000)
Outstanding options, Ending Balance	4,760,000
Exercisable options	2,380,000
Outstanding WAEP, Beginning of period | $ / shares	$ 15.18
WAEP granted | $ / shares	34.04
WAEP exercised | $ / shares	11.08
Forfeited/Cancelled, WAEP | $ / shares	19.78
Outstanding WAEP, End of period | $ / shares	24.59
Exercisable WAEP | $ / shares	$ 24.42
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Remaining Contractual Term	5 years
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term	4 years 8 months 12 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Aggregate Intrinsic Value | $	$ 46
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Aggregate Intrinsic Value | $	$ 23

Stock-Based Compensation - SIRI

Stock-Based Compensation - SIRIUS XM (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Weighted average period of recognition related to unvested equity awards (in years)	1 year 8 months 12 days
Stock-based compensation	$ 230	$ 150	$ 204
Total unrecognized compensation cost related to unvested equity awards	$ 30
SIRIUS XM
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Weighted average period of recognition related to unvested equity awards (in years)	2 years 6 months
Stock-based compensation	$ 124	$ 109	$ 157
SIRIUS XM | Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Options granted	27.3
WAEP granted	$ 5.49
Outstanding options	280.5
Exercisable options	131
Outstanding WAEP	$ 3.76
Exercisable WAEP	$ 3.23
Outstanding options, aggregate intrinsic value	$ 454
Exercisable Options, Aggregate Intrinsic Value	$ 279.1
Weighted average grant-date fair value	$ 1.17
Weighted average volatility rate	24.00%	22.00%	29.00%
Total unrecognized compensation cost related to unvested equity awards	$ 242
SIRIUS XM | Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Restricted stock granted	11.7
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value	$ 5.35

Employee Benefit Plans (Details

Employee Benefit Plans (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Employee Benefit Plans
Defined Benefit Plan, Contributions by Employer	$ 17	$ 13	$ 15

Other Comprehensive Earnings 76

Other Comprehensive Earnings (loss) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance	$ 17,716	$ 18,131	$ 20,176
Balance	22,574	17,716	18,131
Accumulated Other Comprehensive Income (Loss)
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance	(62)	(51)	(21)
Other comprehensive earnings (loss) attributable to Liberty stockholders	27	(11)	(30)
Balance	(35)	(62)	(51)
Accumulated other comprehensive income, other [Member]
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance	(31)	(18)	(11)
Other comprehensive earnings (loss) attributable to Liberty stockholders	14	(13)	(7)
Balance	(17)	(31)	(18)
Accumulated Foreign Currency Translation Adjustment [Member]
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance	(22)	(23)
Other comprehensive earnings (loss) attributable to Liberty stockholders	16	1	(23)
Balance	(6)	(22)	(23)
Accumulated Net Unrealized Investment Gain (Loss) [Member]
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance	(9)	(10)	(10)
Other comprehensive earnings (loss) attributable to Liberty stockholders	(3)	1
Balance	$ (12)	$ (9)	$ (10)

Other Comprehensive Earnings 77

Other Comprehensive Earnings (Loss) - Tax Effects of Components of OCI (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Other Comprehensive Income (Loss), before Tax	$ 55	$ (16)	$ (77)
Other Comprehensive Income (Loss), Tax	(20)	6	28
Other Comprehensive Income (Loss), Net of Tax	35	(10)	(49)
Accumulated Net Unrealized Investment Gain (Loss) [Member]
Other Comprehensive Income (Loss), before Tax	(5)
Other Comprehensive Income (Loss), Tax	2
Other Comprehensive Income (Loss), Net of Tax	(3)
Accumulated Foreign Currency Translation Adjustment [Member]
Other Comprehensive Income (Loss), before Tax	60	(16)	(77)
Other Comprehensive Income (Loss), Tax	(22)	6	28
Other Comprehensive Income (Loss), Net of Tax	$ 38	$ (10)	$ (49)

Commitments And Contingencies78

Commitments And Contingencies (Details) € in Millions	Dec. 12, 2017	Mar. 13, 2017USD ($)	Feb. 29, 2016USD ($)	Jun. 30, 2015USD ($)	Aug. 31, 2013USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Jan. 17, 2013EUR (€)	Jun. 25, 2012EUR (€)
Loss Contingencies [Line Items]
Legal settlement, net									$ 511,000,000
Litigation Settlement, Expense								$ 45,000,000	(465,000,000)	$ 108,000,000
Revenue share and royalties								1,210,000,000	1,109,000,000	1,035,000,000
Operating Leases, Future Minimum Payments Due [Abstract]
Operating Leases, Rent Expense								58,000,000	52,000,000	53,000,000
2,018						$ 48,000,000		48,000,000
2,019						50,000,000		50,000,000
2,020						46,000,000		46,000,000
2,021						39,000,000		39,000,000
2,022						32,000,000		32,000,000
Thereafter						165,000,000		165,000,000
SIRIUS XM
Loss Contingencies [Line Items]
Revenue share and royalties						45,000,000	$ 46,000,000			108,000,000
Estimate of amounts payable for rights to future programming year one						331,000,000		331,000,000
Estimate of amounts payable for rights to future programming year two						306,000,000		306,000,000
Estimate of amounts payable for rights to future programming year three						259,000,000		259,000,000
Estimate of amounts payable for rights to future programming year four						175,000,000		175,000,000
Estimated Amounts Payable for rights to Future Programming year five						52,000,000		52,000,000
Vivendi Universal SA Suit [Member]
Loss Contingencies [Line Items]
Gain Contingency, Unrecorded Amount | €												€ 765
Litigation settlement from other party			$ 775,000,000
Legal settlement, net			$ 511,000,000
Sound exchange Lawsuit [Member]
Loss Contingencies [Line Items]
Loss Contingency Underpayment Amount Percent of Royalty Payment	10.00%
Telephone Consumer Protection Act Of 1991 Lawsuit [Member]
Loss Contingencies [Line Items]
Loss Contingency Damages Sought Value Per Willful Violation		$ 1,500
Loss Contingency Damages Sought Per Violation		$ 500
Capitol Records Case [Member] | SIRIUS XM
Loss Contingencies [Line Items]
Litigation settlement to other party				$ 210,000,000
Percentage of pre-1972 recordings owned or controlled by the plaintiffs				85.00%
Litigation Settlement, Expense				$ 108,000,000
Capitol Records Case [Member] | SIRIUS XM | Revenue Share And Royalties
Loss Contingencies [Line Items]
Litigation Settlement, Expense								43,000,000	$ 40,000,000	$ 19,000,000
Including prejudgment interest | Vivendi Universal SA Suit [Member]
Loss Contingencies [Line Items]
Gain Contingency, Unrecorded Amount | €											€ 945
Braves Holdings
Loss Contingencies [Line Items]
Compensation guarantee aggregate total						234,000,000		234,000,000
Amounts payable under guarantee in 2018						121,000,000		121,000,000
Amounts payable under guarantee in 2019						45,000,000		45,000,000
Amounts payable under guarantee in 2020						32,000,000		32,000,000
Amounts payable under guarantee in 2021						34,000,000		34,000,000
Amounts payable under guarantee in 2022						2,000,000		2,000,000
Amount payable under guarantee, thereafter						$ 0		$ 0
Lease Term								30 years
Property, Plant and Equipment, Useful Life								45 years
Minimum | Pending Litigation | Sound exchange Lawsuit [Member] | SIRIUS XM
Loss Contingencies [Line Items]
Damages sought					$ 50,000,000
Maximum | Pending Litigation | Sound exchange Lawsuit [Member] | SIRIUS XM
Loss Contingencies [Line Items]
Damages sought					$ 100,000,000

Information About Liberty's O79

Information About Liberty's Operating Segments (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Operating Activities And Reporting Information By Segment [Line Items]
Revenue, Net	$ 1,994	$ 2,065	$ 2,140	$ 1,395	$ 1,321	$ 1,385	$ 1,366	$ 1,204	$ 7,594	$ 5,276	$ 4,795
Adjusted OIBDA									2,493	1,773	1,628
Formula 1
Operating Activities And Reporting Information By Segment [Line Items]
Revenue, Net									1,783
Adjusted OIBDA									438
Liberty Sirius XM Group
Operating Activities And Reporting Information By Segment [Line Items]
Revenue, Net									5,425	5,014	4,552
Adjusted OIBDA									2,094	1,838	1,660
Liberty Sirius XM Group | SIRIUS XM
Operating Activities And Reporting Information By Segment [Line Items]
Revenue, Net									5,425	5,014	4,552
Adjusted OIBDA									2,109	1,853	1,660
Liberty Sirius XM Group | Corporate And Other
Operating Activities And Reporting Information By Segment [Line Items]
Adjusted OIBDA									(15)	(15)
Braves Group
Operating Activities And Reporting Information By Segment [Line Items]
Revenue, Net									386	262	243
Adjusted OIBDA									2	(20)	3
Braves Group | Corporate And Other
Operating Activities And Reporting Information By Segment [Line Items]
Revenue, Net									386	262	243
Adjusted OIBDA									2	(20)	3
Formula One Group
Operating Activities And Reporting Information By Segment [Line Items]
Revenue, Net									1,783
Adjusted OIBDA									397	(45)	(35)
Formula One Group | Corporate And Other
Operating Activities And Reporting Information By Segment [Line Items]
Adjusted OIBDA									$ (41)	$ (45)	$ (35)

Information About Liberty's O80

Information About Liberty's Operating Segments - Other Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Operating Activities And Reporting Information By Segment [Line Items]
Assets	$ 41,996	$ 31,377
Investments in affiliates, accounted for using the equity method	1,750	1,117
Capital expenditures	517	568	$ 296
Elimination
Operating Activities And Reporting Information By Segment [Line Items]
Assets	(202)	(217)
Formula 1
Operating Activities And Reporting Information By Segment [Line Items]
Assets	9,461
Capital expenditures	8
Liberty Sirius XM Group
Operating Activities And Reporting Information By Segment [Line Items]
Assets	28,530	27,051
Investments in affiliates, accounted for using the equity method	672	164
Capital expenditures	288	206	135
Liberty Sirius XM Group | SIRIUS XM
Operating Activities And Reporting Information By Segment [Line Items]
Assets	27,837	26,978
Investments in affiliates, accounted for using the equity method	672	164
Capital expenditures	288	206
Liberty Sirius XM Group | Corporate And Other
Operating Activities And Reporting Information By Segment [Line Items]
Assets	693	73
Braves Group
Operating Activities And Reporting Information By Segment [Line Items]
Assets	1,866	1,548
Investments in affiliates, accounted for using the equity method	145	61
Capital expenditures	219	360	128
Braves Group | Corporate And Other
Operating Activities And Reporting Information By Segment [Line Items]
Assets	1,866	1,548
Investments in affiliates, accounted for using the equity method	145	61
Capital expenditures	219	360
Formula One Group
Operating Activities And Reporting Information By Segment [Line Items]
Assets	11,802	2,995
Investments in affiliates, accounted for using the equity method	933	892
Capital expenditures	10	2	$ 33
Formula One Group | Corporate And Other
Operating Activities And Reporting Information By Segment [Line Items]
Assets	2,341	2,995
Investments in affiliates, accounted for using the equity method	933	892
Capital expenditures	$ 2	$ 2

Information About Liberty's O81

Information About Liberty's Operating Segments - Reconciliation Of Segment Adjusted OIBDA (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Information About Liberty's Operating Segments
Consolidated segment Adjusted OIBDA									$ 2,493	$ 1,773	$ 1,628
Legal settlement, net										511
Litigation Settlement, Expense									45	(465)	108
Stock-based compensation									(230)	(150)	(204)
Depreciation and amortization									(824)	(354)	(362)
Operating income (loss)	$ 331	$ 382	$ 422	$ 259	$ 273	$ 352	$ 328	$ 781	1,394	1,734	954
Interest expense									(591)	(362)	(328)
Share of earnings (losses) of affiliates, net									104	14	(40)
Realized and unrealized gains (losses) on financial instruments, net									(88)	37	(140)
Other, net									8	(4)	12
Earnings (loss) from continuing operations before income taxes									$ 827	$ 1,419	$ 458

Information About Liberty's O82

Information About Liberty's Operating Segments - Revenue and Long-Lived Assets by Geographic Area(Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 1,994	$ 2,065	$ 2,140	$ 1,395	$ 1,321	$ 1,385	$ 1,366	$ 1,204	$ 7,594	$ 5,276	$ 4,795
Long-Lived Assets	2,541				2,352				2,541	2,352
UNITED STATES
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue									5,724	5,230	4,739
Long-Lived Assets	2,529				$ 2,352				2,529	2,352
UNITED KINGDOM
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue									1,783
Long-Lived Assets	$ 12								12
Other
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue									$ 87	$ 46	$ 56

Quarterly Financial Informati83

Quarterly Financial Information (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Revenue, Net	$ 1,994	$ 2,065	$ 2,140	$ 1,395	$ 1,321	$ 1,385	$ 1,366	$ 1,204	$ 7,594	$ 5,276	$ 4,795
Operating income	331	382	422	259	273	352	328	781	1,394	1,734	954
Net earnings (loss)	1,429	261	156	44	186	169	142	427	1,890	924	248
Net earnings (loss) attributable to Liberty Stockholders									1,354	680	64
Liberty Media Corporation
Net earnings (loss) attributable to Liberty Stockholders							$ 13	$ 364		$ 377	$ 64
Series A and Series B Liberty Capital common stock							$ 0.04	$ 1.09		$ 1.13	$ 0.19
Series A and Series B Liberty Capital common stock							$ 0.04	$ 1.08		$ 1.12	$ 0.19
Liberty Sirius XM Group
Revenue, Net									5,425	$ 5,014	$ 4,552
Operating income									1,547	1,352	1,073
Net earnings (loss)									1,659	657	443
Net earnings (loss) attributable to Liberty Stockholders	$ 694	$ 183	$ 123	$ 124	$ 119	$ 96	$ 82		$ 1,124	$ 297
Series A and Series B Liberty Capital common stock	$ 2.07	$ 0.54	$ 0.37	$ 0.37	$ 0.36	$ 0.29	$ 0.24		$ 3.35	$ 0.89
Series A and Series B Liberty Capital common stock	$ 2.04	$ 0.54	$ 0.36	$ 0.37	$ 0.35	$ 0.28	$ 0.24		$ 3.31	$ 0.88
Braves Group
Revenue, Net									$ 386	$ 262	243
Operating income									(113)	(61)	(38)
Net earnings (loss)									(26)	(62)	(20)
Net earnings (loss) attributable to Liberty Stockholders	$ 4	$ 22	$ (2)	$ (49)	$ (40)	$ (22)	$ 32		$ (25)	$ (30)
Series A and Series B Liberty Capital common stock	$ 0.08	$ 0.45	$ (0.04)	$ (1)	$ (0.82)	$ (0.45)	$ 0.89		$ (0.51)	$ (0.65)
Series A and Series B Liberty Capital common stock	$ 0.07	$ 0.45	$ (0.04)	$ (1)	$ (0.82)	$ (0.45)	$ 0.11		$ (0.51)	$ (0.65)
Formula One Group
Revenue, Net									$ 1,783
Operating income									(40)	$ 443	(81)
Net earnings (loss)									257	329	$ (175)
Net earnings (loss) attributable to Liberty Stockholders	$ 415	$ (37)	$ (27)	$ (96)	$ 40	$ 41	$ (45)		$ 255	$ 36
Series A and Series B Liberty Capital common stock	$ 1.80	$ (0.17)	$ (0.13)	$ (0.55)	$ 0.48	$ 0.49	$ (0.54)		$ 1.23	$ 0.43
Series A and Series B Liberty Capital common stock	$ 1.79	$ (0.17)	$ (0.13)	$ (0.55)	$ 0.47	$ 0.48	$ (0.54)		$ 1.21	$ 0.42

Financial Information for Tra84

Financial Information for Tracking Stock Groups - Balance Sheet (Details) - USD ($) $ in Millions	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Assets, Current
Cash and cash equivalents	$ 1,029	$ 562	$ 201	$ 681
Trade and other receivables, net	358	240
Other current assets	376	227
Total current assets	1,763	1,029
Investments in available-for-sale securities and other cost investments	1,114	1,309
Investments in affiliates, accounted for using the equity method	1,750	1,117
Property and equipment, at cost	3,596	3,182
Accumulated depreciation	(1,055)	(830)
Property and equipment, net	2,541	2,352
Goodwill	18,383	14,345	14,345
FCC licenses	8,600	8,600
Other	1,074	1,073
Intangible assets not subject to amortization	28,057	24,018
Intangible assets subject to amortization, net	6,131	1,072
Other assets	640	480
Total assets	41,996	31,377
Liabilities, Current [Abstract]
Accounts Payable and accrued liabilities	1,250	985
Current portion of debt	768	5
Deferred revenue	1,941	1,877
Other current liabilities	20	5
Total current liabilities	3,979	2,872
Long-term debt	13,186	8,013
Deferred income tax liabilities	1,478	2,025
Other liabilities	779	751
Total liabilities	19,422	13,661
Stockholders' Equity Attributable to Parent [Abstract]
Stockholders' Equity Attributable to Parent, Total	16,943	11,756
Noncontrolling interests in equity of subsidiaries	5,631	5,960
Total liabilities and equity	41,996	31,377
Liberty Sirius XM Group
Assets, Current
Cash and cash equivalents	615	287	112	148
Trade and other receivables, net	242	223
Other current assets	207	206
Total current assets	1,064	716
Investments in available-for-sale securities and other cost investments	580
Investments in affiliates, accounted for using the equity method	672	164
Property and equipment, at cost	2,274	2,079
Accumulated depreciation	(927)	(746)
Property and equipment, net	1,347	1,333
Goodwill	14,247	14,165
FCC licenses	8,600	8,600
Other	931	930
Intangible assets not subject to amortization	23,778	23,695
Intangible assets subject to amortization, net	972	998
Other assets	117	145
Total assets	28,530	27,051
Liabilities, Current [Abstract]
Intergroup payable (receivable)	9	5
Accounts Payable and accrued liabilities	934	827
Current portion of debt	755	5
Deferred revenue	1,882	1,833
Other current liabilities	3	3
Total current liabilities	3,583	2,673
Long-term debt	6,741	6,102
Deferred income tax liabilities	1,447	1,967
Other liabilities	283	278
Total liabilities	12,054	11,020
Stockholders' Equity Attributable to Parent [Abstract]
Stockholders' Equity Attributable to Parent, Total	10,861	10,085
Noncontrolling interests in equity of subsidiaries	5,615	5,946
Total liabilities and equity	28,530	27,051
Braves Group
Assets, Current
Cash and cash equivalents	132	107	13	11
Trade and other receivables, net	32	15
Other current assets	56	17
Total current assets	220	139
Investments in available-for-sale securities and other cost investments	8	8
Investments in affiliates, accounted for using the equity method	145	61
Property and equipment, at cost	1,150	943
Accumulated depreciation	(51)	(13)
Property and equipment, net	1,099	930
Goodwill	180	180
Other	143	143
Intangible assets not subject to amortization	323	323
Intangible assets subject to amortization, net	49	73
Other assets	22	14
Total assets	1,866	1,548
Liabilities, Current [Abstract]
Intergroup payable (receivable)	(39)	(17)
Accounts Payable and accrued liabilities	58	141
Current portion of debt	13
Deferred revenue	51	44
Other current liabilities	8
Total current liabilities	91	168
Long-term debt	649	328
Deferred income tax liabilities	62	48
Redeemable intergroup interest	202	187
Other liabilities	435	417
Total liabilities	1,439	1,148
Stockholders' Equity Attributable to Parent [Abstract]
Stockholders' Equity Attributable to Parent, Total	413	385
Noncontrolling interests in equity of subsidiaries	14	15
Total liabilities and equity	1,866	1,548
Formula One Group
Assets, Current
Cash and cash equivalents	282	168	$ 76	$ 522
Trade and other receivables, net	84	2
Other current assets	113	5
Total current assets	479	175
Intergroup interest in the Liberty Braves Group	202	187
Investments in available-for-sale securities and other cost investments	526	1,301
Investments in affiliates, accounted for using the equity method	933	892
Property and equipment, at cost	172	160
Accumulated depreciation	(77)	(71)
Property and equipment, net	95	89
Goodwill	3,956
Intangible assets not subject to amortization	3,956
Intangible assets subject to amortization, net	5,110	1
Other assets	501	350
Total assets	11,802	2,995
Liabilities, Current [Abstract]
Intergroup payable (receivable)	30	12
Accounts Payable and accrued liabilities	258	17
Deferred revenue	8
Other current liabilities	9	3
Total current liabilities	305	32
Long-term debt	5,796	1,583
Deferred income tax liabilities	(31)	39
Other liabilities	61	56
Total liabilities	6,131	1,710
Stockholders' Equity Attributable to Parent [Abstract]
Stockholders' Equity Attributable to Parent, Total	5,669	1,286
Noncontrolling interests in equity of subsidiaries	2	(1)
Total liabilities and equity	11,802	2,995
Elimination
Assets, Current
Other current assets		(1)
Total current assets		(1)
Intergroup interest in the Liberty Braves Group	(202)	(187)
Other assets		(29)
Total assets	(202)	(217)
Liabilities, Current [Abstract]
Other current liabilities		(1)
Total current liabilities		(1)
Deferred income tax liabilities		(29)
Redeemable intergroup interest	(202)	(187)
Total liabilities	(202)	(217)
Stockholders' Equity Attributable to Parent [Abstract]
Total liabilities and equity	$ (202)	$ (217)

Financial Information for Tra85

Financial Information for Tracking Stock Groups - Statement of Operations (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Revenue:
Subscriber revenue									$ 4,473	$ 4,194	$ 3,807
Formula 1 revenue									1,783
Other revenue									1,338	1,082	988
Total Revenue	$ 1,994	$ 2,065	$ 2,140	$ 1,395	$ 1,321	$ 1,385	$ 1,366	$ 1,204	7,594	5,276	4,795
Revenue share and royalties									1,210	1,109	1,035
Programming and content									388	354	267
Customer service and billing									385	387	380
Other									119	144	141
Cost of Formula 1 revenue									1,219
Subscriber acquisition costs									499	513	533
Other operating expense									394	306	262
Selling, general and administrative									1,162	886	861
Legal settlement, net										(511)
Depreciation and amortization									824	354	362
Total operating costs and expenses									6,200	3,542	3,841
Operating income (loss)	331	382	422	259	273	352	328	781	1,394	1,734	954
Other income (expense):
Interest expense									(591)	(362)	(328)
Share of earnings (losses) of affiliates, net									104	14	(40)
Realized and unrealized gains (losses) on financial instruments, net									(88)	37	(140)
Other, net									8	(4)	12
Total other income (expense)									(567)	(315)	(496)
Earnings (loss) from continuing operations before income taxes									827	1,419	458
Income tax (expense) benefit									1,063	(495)	(210)
Net earnings (loss)	1,429	261	156	44	186	169	142	$ 427	1,890	924	248
Less net earnings (losses) attributable to the noncontrolling interests									536	244	184
Net earnings (loss) attributable to Liberty stockholders									1,354	680	64
Net earnings (loss) attributable to Liberty stockholders									1,354	680	64
Liberty Sirius XM Group
Revenue:
Subscriber revenue									4,473	4,194	3,807
Other revenue									952	820	745
Total Revenue									5,425	5,014	4,552
Revenue share and royalties									1,210	1,109	1,035
Programming and content									388	354	267
Customer service and billing									385	387	380
Other									119	144	141
Subscriber acquisition costs									499	513	533
Other operating expense									113	82	73
Selling, general and administrative									812	761	728
Depreciation and amortization									352	312	322
Total operating costs and expenses									3,878	3,662	3,479
Operating income (loss)									1,547	1,352	1,073
Other income (expense):
Interest expense									(356)	(342)	(307)
Share of earnings (losses) of affiliates, net									29	13	(1)
Realized and unrealized gains (losses) on financial instruments, net									(16)
Other, net									(11)	(25)
Total other income (expense)									(354)	(354)	(308)
Earnings (loss) from continuing operations before income taxes									1,193	998	765
Income tax (expense) benefit									466	(341)	(322)
Net earnings (loss)									1,659	657	443
Less net earnings (losses) attributable to the noncontrolling interests									535	244	184
Net earnings (loss) attributable to Liberty stockholders	694	183	123	124	119	96	82		1,124	297
Net earnings (loss) attributable to Liberty stockholders									1,124	413	259
Braves Group
Revenue:
Other revenue									386	262	243
Total Revenue									386	262	243
Other operating expense									281	224	189
Selling, general and administrative									151	67	61
Depreciation and amortization									67	32	31
Total operating costs and expenses									499	323	281
Operating income (loss)									(113)	(61)	(38)
Other income (expense):
Interest expense									(15)	(1)	(1)
Share of earnings (losses) of affiliates, net									78	9	9
Unrealized gains losses on intergroup interest									(15)	(27)
Realized and unrealized gains (losses) on financial instruments, net										1
Other, net									3
Total other income (expense)									51	(18)	8
Earnings (loss) from continuing operations before income taxes									(62)	(79)	(30)
Income tax (expense) benefit									36	17	10
Net earnings (loss)									(26)	(62)	(20)
Less net earnings (losses) attributable to the noncontrolling interests									(1)
Net earnings (loss) attributable to Liberty stockholders	4	22	(2)	(49)	(40)	(22)	32		(25)	(30)
Net earnings (loss) attributable to Liberty stockholders									(25)	(62)	(20)
Formula One Group
Revenue:
Formula 1 revenue									1,783
Total Revenue									1,783
Cost of Formula 1 revenue									1,219
Selling, general and administrative									199	58	72
Legal settlement, net										(511)
Depreciation and amortization									405	10	9
Total operating costs and expenses									1,823	(443)	81
Operating income (loss)									(40)	443	(81)
Other income (expense):
Interest expense									(220)	(19)	(20)
Share of earnings (losses) of affiliates, net									(3)	(8)	(48)
Unrealized gains losses on intergroup interest									15	27
Realized and unrealized gains (losses) on financial instruments, net									(72)	36	(140)
Other, net									16	21	12
Total other income (expense)									(264)	57	(196)
Earnings (loss) from continuing operations before income taxes									(304)	500	(277)
Income tax (expense) benefit									561	(171)	102
Net earnings (loss)									257	329	(175)
Less net earnings (losses) attributable to the noncontrolling interests									2
Net earnings (loss) attributable to Liberty stockholders	$ 415	$ (37)	$ (27)	$ (96)	$ 40	$ 41	$ (45)		255	36
Net earnings (loss) attributable to Liberty stockholders									$ 255	$ 329	$ (175)

Financial Information for Tra86

Financial Information for Tracking Stock Groups - Statement of Cash Flows (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Cash flows from operating activities:
Net earnings (loss)	$ 1,429	$ 261	$ 156	$ 44	$ 186	$ 169	$ 142	$ 427	$ 1,890	$ 924	$ 248
Adjustments to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities [Abstract]
Depreciation and amortization									824	354	362
Stock-based compensation									230	150	204
Share of (earnings) loss of affiliates, net									(104)	(14)	40
Realized and unrealized (gains) losses on financial instruments, net									88	(37)	140
Noncash interest expense (benefit)									16	11	6
Losses (gains) on dilution of investment in affiliate									(3)		1
Gains (Losses) on Extinguishment of Debt									48	24
Deferred income tax expense (benefit)									(1,064)	427	175
Other, net									4	30	19
Changes in operating assets and liabilities
Current and other assets									50	25	(208)
Payables and other current liabilities									(247)	277	245
Net cash provided (used) by operating activities									1,732	2,171	1,232
Cash flows from investing activities:
Net cash paid for the acquisition of Formula 1									(1,647)
Cash proceeds from sale of investments									21	62	175
Proceeds (payments) from settlement of financial instruments, net										(1)	(322)
Investments in and loans to cost and equity investees									(862)	(784)	(19)
Repayment of Notes Receivable from Related Parties										48
Capital expended for property and equipment									(517)	(568)	(296)
Purchases of short term investments and other marketable securities										(258)	(174)
Sales of short term investments and other marketable securities										273	358
Other investing activities, net									(132)	(36)	(8)
Net cash provided (used) by investing activities									(3,137)	(1,264)	(286)
Cash flows from financing activities:
Borrowings of debt									6,697	2,745	2,213
Repayments of debt									(5,107)	(1,749)	(1,196)
Proceeds from Issuance of Series C Liberty Formula One Common Stock									1,938
Repurchases of Liberty common stock											(350)
Shares repurchased by subsidiary									(1,409)	(1,674)	(2,018)
Cash dividends paid by subsidiary									(60)	(16)
Proceeds from Liberty Braves common stock rights offering										203
Taxes paid in lieu of shares issued for stock-based compensation									(135)	(58)	(80)
Other financing activities, net									(56)	3	5
Net cash provided (used) by financing activities									1,868	(546)	(1,426)
Effect of Exchange Rate on Cash and Cash Equivalents									4
Net increase (decrease) in cash and cash equivalents									467	361	(480)
Cash and cash equivalents at beginning of period				562				201	562	201	681
Cash and cash equivalents at end of period	1,029				562				1,029	562	201
Liberty Sirius XM Group
Cash flows from operating activities:
Net earnings (loss)									1,659	657	443
Adjustments to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities [Abstract]
Depreciation and amortization									352	312	322
Stock-based compensation									150	128	157
Share of (earnings) loss of affiliates, net									(29)	(13)	1
Realized and unrealized (gains) losses on financial instruments, net									16
Noncash interest expense (benefit)									7	6	6
Gains (Losses) on Extinguishment of Debt									35	24
Deferred income tax expense (benefit)									(492)	332	290
Intergroup tax allocation									(6)	(13)	(4)
Intergroup tax (payments) receipts									4	7
Other, net									(4)	21	15
Changes in operating assets and liabilities
Current and other assets									30	59	(220)
Payables and other current liabilities									127	184	212
Net cash provided (used) by operating activities									1,849	1,704	1,222
Cash flows from investing activities:
Investments in and loans to cost and equity investees									(851)
Capital expended for property and equipment									(288)	(206)	(135)
Other investing activities, net									(115)	(4)
Net cash provided (used) by investing activities									(1,254)	(210)	(135)
Cash flows from financing activities:
Borrowings of debt									4,553	1,847	1,978
Repayments of debt									(3,216)	(1,471)	(1,038)
Intergroup (payments) receipts										58	9
Shares repurchased by subsidiary									(1,409)	(1,674)	(2,018)
Cash dividends paid by subsidiary									(60)	(16)
Taxes paid in lieu of shares issued for stock-based compensation									(100)	(47)	(54)
Other financing activities, net									(35)	(16)
Net cash provided (used) by financing activities									(267)	(1,319)	(1,123)
Net increase (decrease) in cash and cash equivalents									328	175	(36)
Cash and cash equivalents at beginning of period				287				112	287	112	148
Cash and cash equivalents at end of period	615				287				615	287	112
Braves Group
Cash flows from operating activities:
Net earnings (loss)									(26)	(62)	(20)
Adjustments to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities [Abstract]
Depreciation and amortization									67	32	31
Stock-based compensation									48	9	10
Share of (earnings) loss of affiliates, net									(78)	(9)	(9)
Unrealized gains losses on intergroup interest									15	27
Realized and unrealized (gains) losses on financial instruments, net										(1)
Noncash interest expense (benefit)									3	5
Gains (Losses) on Extinguishment of Debt									5
Deferred income tax expense (benefit)									2	1	(6)
Intergroup tax allocation									(39)	(19)	(4)
Intergroup tax (payments) receipts									15	7	1
Other, net									18	11
Changes in operating assets and liabilities
Current and other assets									(57)	(17)	9
Payables and other current liabilities									(15)	105	33
Net cash provided (used) by operating activities									(42)	89	45
Cash flows from investing activities:
Cash proceeds from sale of investments									5		24
Investments in and loans to cost and equity investees									(2)	(20)
Capital expended for property and equipment									(219)	(360)	(128)
Other investing activities, net									(5)	(33)	(9)
Net cash provided (used) by investing activities									(221)	(413)	(113)
Cash flows from financing activities:
Borrowings of debt									544	460	197
Repayments of debt									(218)	(276)	(158)
Intergroup (payments) receipts										16	31
Proceeds from Liberty Braves common stock rights offering										203
Taxes paid in lieu of shares issued for stock-based compensation									(30)
Other financing activities, net									(8)	15
Net cash provided (used) by financing activities									288	418	70
Net increase (decrease) in cash and cash equivalents									25	94	2
Cash and cash equivalents at beginning of period				107				13	107	13	11
Cash and cash equivalents at end of period	132				107				132	107	13
Formula One Group
Cash flows from operating activities:
Net earnings (loss)									257	329	(175)
Adjustments to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities [Abstract]
Depreciation and amortization									405	10	9
Stock-based compensation									32	13	37
Share of (earnings) loss of affiliates, net									3	8	48
Unrealized gains losses on intergroup interest									(15)	(27)
Realized and unrealized (gains) losses on financial instruments, net									72	(36)	140
Noncash interest expense (benefit)									6
Losses (gains) on dilution of investment in affiliate									(3)		1
Gains (Losses) on Extinguishment of Debt									8
Deferred income tax expense (benefit)									(574)	94	(109)
Intergroup tax allocation									45	32	8
Intergroup tax (payments) receipts									(19)	(14)	(1)
Other, net									(10)	(2)	4
Changes in operating assets and liabilities
Current and other assets									77	(17)	3
Payables and other current liabilities									(359)	(12)
Net cash provided (used) by operating activities									(75)	378	(35)
Cash flows from investing activities:
Net cash paid for the acquisition of Formula 1									(1,647)
Cash proceeds from sale of investments									16	62	151
Proceeds (payments) from settlement of financial instruments, net										(1)	(322)
Investments in and loans to cost and equity investees									(9)	(764)	(19)
Repayment of Notes Receivable from Related Parties										48
Capital expended for property and equipment									(10)	(2)	(33)
Purchases of short term investments and other marketable securities										(258)	(174)
Sales of short term investments and other marketable securities										273	358
Other investing activities, net									(12)	1	1
Net cash provided (used) by investing activities									(1,662)	(641)	(38)
Cash flows from financing activities:
Borrowings of debt									1,600	438	38
Repayments of debt									(1,673)	(2)
Proceeds from Issuance of Series C Liberty Formula One Common Stock									1,938
Intergroup (payments) receipts										(74)	(40)
Repurchases of Liberty common stock											(350)
Taxes paid in lieu of shares issued for stock-based compensation									(5)	(11)	(26)
Other financing activities, net									(13)	4	5
Net cash provided (used) by financing activities									1,847	355	(373)
Effect of Exchange Rate on Cash and Cash Equivalents									4
Net increase (decrease) in cash and cash equivalents									114	92	(446)
Cash and cash equivalents at beginning of period				$ 168				$ 76	168	76	522
Cash and cash equivalents at end of period	$ 282				$ 168				$ 282	$ 168	$ 76