This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Liberty Media Reports Fourth Quarter And Year End 2012 Financial Results

Stocks in this article: LMCA LMCB

The following financial information with respect to Liberty Media’s equity affiliates and available for sale securities is intended to supplement Liberty Media’s consolidated balance sheet and statement of operations to be included in its Form 10-K.

Fair Value of Public Holdings

(amounts in millions)     9/30/2012     12/31/2012
SiriusXM debt and equity (1)     $ 8,429     $ 9,621
Live Nation debt and equity (2) 444 494
Barnes & Noble investment (3) 223 262
Other public holdings (4) 1,265     825
Total Liberty Media     $ 10,361     $ 11,202
(1)   Represents the fair value of Liberty Media’s debt and equity investments in SiriusXM. In accordance with GAAP, Liberty Media has accounted for its equity investment in SiriusXM using the equity method of accounting and has included this in its consolidated balance sheet at historical carrying value of $2,656 million and $2,766 million at September 30, 2012 and December 31, 2012, respectively. Beginning in the first quarter of 2013, Liberty Media will consolidate SiriusXM.
(2) Represents the fair value of Liberty Media’s debt and equity investments. In accordance with GAAP, Liberty Media accounts for its investment in the equity of Live Nation using the equity method of accounting and includes it in its consolidated balance sheet at its historical carrying value of $412 million and $406 million at September 30, 2012 and December 31, 2012, respectively.
(3) Represents the carrying value of Liberty Media’s preferred equity investment in Barnes & Noble, which is accounted for at fair value.
(4) Represents Liberty Media’s other public holdings which are accounted for at fair value.

Cash and Debt

The following presentation is provided to separately identify cash and liquid investments and debt information.

(amounts in millions)     9/30/2012     12/31/2012
Cash and liquid investments (1) $ 1,179     $ 1,420
Less: Short-term marketable securities 10 67
Total Liberty Media Cash (GAAP) $ 1,169     $ 1,353
Starz bank facility (2) 5 5
Starz 5% senior notes (2) 500 500
Other Starz debt (2) 36     35
Total Liberty Media Debt (GAAP) $ 541     $ 540
(1)   Includes $10 million and $67 million of short-term marketable securities with an original maturity greater than 90 days as of September 30, 2012 and December 31, 2012, respectively.
(2) This debt remained with Starz in the January 2013 separation.

Total Liberty Media cash and liquid investments increased $241 million, primarily as a result of proceeds received from disposition of securities, the special dividend from SiriusXM and repayment of loans from investees. These inflows were partially offset by investments in cost and equity investees, stock repurchases and payments on financial instruments. Total Liberty Media debt was relatively unchanged.

4 of 9

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,030.21 +6.04 0.03%
S&P 500 2,081.88 -0.29 -0.01%
NASDAQ 4,773.4720 +8.0480 0.17%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs