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Exhibit 99.1


Attributed Financial Information for Tracking Stock Groups

        Our Liberty Interactive common stock is intended to reflect the separate performance of our Interactive Group which is comprised of our businesses engaged in video and on-line commerce, including our subsidiaries, QVC, Inc., Provide Commerce, Inc., Backcountry.com, Inc., Bodybuilding.com, LLC and BuySeasons, Inc. and our interests in IAC/InterActiveCorp, Expedia, Inc., HSN, Inc., Interval Leisure Group, Inc. and Tree.com, Inc. Our Liberty Starz common stock is intended to reflect the separate performance of our Starz Group which primarily includes our wholly-owned subsidiary Starz Entertainment, LLC. Our Liberty Capital common stock is intended to reflect the separate performance of our Capital Group which is comprised of all of our assets and businesses not attributed to the Interactive Group or the Starz Group.

        The following tables present our assets, liabilities, revenue, expenses and cash flows as of and for the three months ended March 31, 2010 and 2009. The tables further present our assets, liabilities, revenue, expenses and cash flows that are attributed to the Interactive Group, the Starz Group and the Capital Group, respectively. The financial information should be read in conjunction with our unaudited condensed consolidated financial statements for the three months ended March 31, 2010 included in this Quarterly Report on Form 10-Q.

        Notwithstanding the following attribution of assets, liabilities, revenue, expenses and cash flows to the Interactive Group, the Starz Group and the Capital Group, our tracking stock structure does not affect the ownership or the respective legal title to our assets or responsibility for our liabilities. We and our subsidiaries are each responsible for our respective liabilities. Holders of Liberty Interactive common stock, Liberty Starz common stock and Liberty Capital common stock are holders of our common stock and are subject to risks associated with an investment in our company and all of our businesses, assets and liabilities. The issuance of Liberty Interactive common stock, Liberty Starz common stock and Liberty Capital common stock does not affect the rights of our creditors or creditors of our subsidiaries.

1



SUMMARY ATTRIBUTED FINANCIAL DATA

Interactive Group

 
  March 31,
2010
  December 31,
2009
 
 
  amounts in millions
 

Summary balance sheet data:

             

Current assets

  $ 3,819     3,379  

Cost investments

  $ 299     734  

Equity investments

  $ 841     895  

Total assets

  $ 17,149     17,343  

Long-term debt, including current portion

  $ 6,741     6,073  

Long-term deferred income tax liabilities

  $ 2,714     1,939  

Attributed net assets

  $ 5,691     6,794  

 

 
  Three months
ended
March 31,
 
 
  2010   2009  
 
  amounts in millions
 

Summary operations data:

             

Revenue

  $ 2,025     1,831  

Cost of sales

    (1,294 )   (1,183 )

Operating expenses

    (186 )   (172 )

Selling, general and administrative expenses(1)

    (186 )   (145 )

Depreciation and amortization

    (141 )   (147 )
           
 

Operating income

    218     184  

Interest expense

    (147 )   (96 )

Share of earnings (losses) of affiliates, net

    23     (95 )

Realized and unrealized gains (losses) on financial instruments

    25     (72 )

Gains (losses) on disposition, net

    364     (2 )

Other expense, net

    (26 )   (8 )

Income tax benefit (expense)

    (137 )   41  
           
 

Net earnings (loss)

    320     (48 )

Less net earnings attributable to the noncontrolling interests

    10     9  
           

Net earnings (loss) attributable to Liberty Media Corporation shareholders

  $ 310     (57 )
           

(1)
Includes stock-based compensation of $22 million and $10 million for the three months ended March 31, 2010 and 2009, respectively.

2


SUMMARY ATTRIBUTED FINANCIAL DATA

Starz Group

 
  March 31,
2010
  December 31,
2009
 
 
  amounts in millions
 

Summary balance sheet data:

             

Current assets

  $ 1,786     1,544  

Total assets

  $ 2,433     2,198  

Long-term debt, including current portion

  $ 47     48  

Attributed net assets

  $ 2,102     2,040  

 

 
  Three months
ended
March 31,
 
 
  2010   2009  
 
  amounts
in millions

 

Summary operations data:

             

Revenue

  $ 307     297  

Operating expenses

    (165 )   (162 )

Selling, general and administrative expenses(1)

    (45 )   (48 )

Depreciation and amortization

    (5 )   (6 )
           
 

Operating income

    92     81  

Other income (expense), net

    1     (3 )

Income tax expense

    (36 )   (18 )
           
 

Earnings from continuing operations

    57     60  

Earnings from discontinued operations

        21  
           
 

Net earnings

  $ 57     81  
           

(1)
Includes stock-based compensation of $6 million and $17 million for the three months ended March 31, 2010 and 2009, respectively.

3


SUMMARY ATTRIBUTED FINANCIAL DATA

Capital Group

 
  March 31, 2010   December 31, 2009  
 
  amounts in millions
 

Summary balance sheet data:

             

Current assets

  $ 3,012     4,087  

Cost investments

  $ 4,043     3,355  

Total assets

  $ 8,936     9,373  

Long-term debt, including current portion

  $ 2,446     3,653  

Deferred income tax liabilities, including current portion

  $ 1,266     2,260  

Attributed net assets

  $ 2,639     1,275  

 

 
  Three months
ended
March 31,
 
 
  2010   2009  
 
  amounts
in millions

 

Summary operations data:

             

Revenue

  $ 166     125  

Operating expenses

    (105 )   (93 )

Selling, general and administrative expenses(1)

    (115 )   (65 )

Depreciation and amortization

    (16 )   (20 )
           
 

Operating loss

    (70 )   (53 )

Interest expense

    (23 )   (40 )

Realized and unrealized gains (losses) on financial instruments, net

    143     (199 )

Other income, net

    7     18  

Income tax benefit (expense)

    (35 )   114  
           
 

Net earnings (loss)

    22     (160 )
           

(1)
Includes stock-based compensation of $11 million and $1 million for the three months ended March 31, 2010 and 2009, respectively.

4


BALANCE SHEET INFORMATION
March 31, 2010
(unaudited)

 
  Attributed (note 1)    
   
 
 
  Interactive
Group
  Starz
Group
  Capital
Group
  Inter-group
eliminations
  Consolidated
Liberty
 
 
  amounts in millions
 

Assets

                               

Current assets:

                               
 

Cash and cash equivalents

  $ 1,731     1,005     2,480         5,216  
 

Trade and other receivables, net

    1,004     190     99         1,293  
 

Inventory, net

    1,007                 1,007  
 

Program rights

        507             507  
 

Financial instruments

            340         340  
 

Current deferred tax assets

        60         (60 )    
 

Other current assets

    77     24     93         194  
                       
   

Total current assets

    3,819     1,786     3,012     (60 )   8,557  
                       

Investments in available-for-sale securities and other cost investments (note 2)

    299     1     4,043         4,343  

Investments in affiliates, accounted for using the equity method (note 3)

    841         118         959  

Property and equipment, net

    1,012     105     161         1,278  

Goodwill

    5,859     133     200         6,192  

Trademarks

    2,492     2     14         2,508  

Other non-amortizable intangibles

            153         153  

Intangible assets subject to amortization, net

    2,737     2     176         2,915  

Deferred tax assets

        11         (11 )    

Other assets, at cost, net of accumulated amortization

    90     393     1,059         1,542  
                       
   

Total assets

  $ 17,149     2,433     8,936     (71 )   28,447  
                       

Liabilities and Equity

                               

Current liabilities:

                               
 

Accounts payable

  $ 531     5     11         547  
 

Accrued liabilities

    651     164     157         972  
 

Intergroup payable (receivable)

    127     (78 )   (49 )        
 

Financial instruments

    148     1     919         1,068  
 

Current portion of debt (note 4)

    716     4     483         1,203  
 

Current deferred tax liabilities

    54         1,254     (60 )   1,248  
 

Other current liabilities

    153     143     133         429  
                       
   

Total current liabilities

    2,380     239     2,908     (60 )   5,467  
                       

Long-term debt (note 4)

    6,025     43     1,963         8,031  

Deferred income tax liabilities

    2,714         12     (11 )   2,715  

Other liabilities

    220     49     1,412         1,681  
                       
   

Total liabilities

    11,339     331     6,295     (71 )   17,894  

Equity/Attributed net assets

    5,691     2,102     2,639         10,432  

Noncontrolling interests in equity of subsidiaries

    119         2         121  
                       
   

Total liabilities and equity

  $ 17,149     2,433     8,936     (71 )   28,447  
                       

5


STATEMENT OF OPERATIONS AND COMPREHENSIVE EARNINGS (LOSS) INFORMATION
Three months ended March 31, 2010
(unaudited)

 
  Attributed (note 1)    
 
 
  Interactive
Group
  Starz
Group
  Capital
Group
  Consolidated
Liberty
 
 
  amounts in millions
 

Revenue:

                         
 

Net retail sales

  $ 2,025             2,025  
 

Communications and programming services

        307     166     473  
                   

    2,025     307     166     2,498  
                   

Operating costs and expenses:

                         
 

Cost of sales

    1,294             1,294  
 

Operating

    186     165     105     456  
 

Selling, general and administrative, including stock-based compensation (note 5)

    186     45     115     346  
 

Depreciation and amortization

    141     5     16     162  
                   

    1,807     215     236     2,258  
                   
   

Operating income (loss)

    218     92     (70 )   240  

Other income (expense):

                         
 

Interest expense

    (147 )       (23 )   (170 )
 

Intergroup interest income (expense)

    (4 )   2     2      
 

Share of earnings (losses) of affiliates, net (note 3)

    23         (14 )   9  
 

Realized and unrealized gains (losses) on financial instruments, net

    25     (1 )   143     167  
 

Gains (losses) on dispositions, net

    364         (1 )   363  
 

Other, net

    (22 )       20     (2 )
                   

    239     1     127     367  
                   
   

Earnings before income taxes

    457     93     57     607  

Income tax expense

   
(137

)
 
(36

)
 
(35

)
 
(208

)
                   
   

Net earnings (loss)

    320     57     22     399  

Less net earnings attributable to the noncontrolling interests

    10             10  
                   

Net earnings attributable to Liberty Media Corporation shareholders

  $ 310     57     22     389  
                   

Net earnings

  $ 320     57     22     399  
                   

Other comprehensive earnings (loss), net of taxes:

                         
 

Foreign currency translation adjustments

    (52 )           (52 )
 

Unrealized holding gains arising during the period

    35         30     65  
 

Recognition of previously unrealized gains on available-for-sale securities, net

    (112 )           (112 )
 

Share of other comprehensive earnings of equity affiliates

    5             5  
 

Reattribution of other comprehensive earnings between tracking stocks

    (30 )       30      
 

Other

    13             13  
                   
   

Other comprehensive earnings (loss)

    (141 )       60     (81 )
                   
     

Comprehensive earnings

    179     57     82     318  

Less comprehensive earnings attributable to the noncontrolling interests

    9             9  
                   

Comprehensive earnings attributable to Liberty Media Corporation shareholders

  $ 170     57     82     309  
                   

6


STATEMENT OF OPERATIONS AND COMPREHENSIVE EARNINGS (LOSS) INFORMATION
Three months ended March 31, 2009
(unaudited)

 
  Attributed (note 1)    
 
 
  Interactive
Group
  Starz
Group
  Capital
Group
  Consolidated
Liberty
 
 
  amounts in millions
 

Revenue:

                         
 

Net retail sales

  $ 1,831             1,831  
 

Communications and programming services

        297     125     422  
                   

    1,831     297     125     2,253  
                   

Operating costs and expenses:

                         
 

Cost of sales

    1,183             1,183  
 

Operating

    172     162     93     427  
 

Selling, general and administrative, including stock-based compensation (note 5)

    145     48     65     258  
 

Depreciation and amortization

    147     6     20     173  
                   

    1,647     216     178     2,041  
                   
     

Operating income (loss)

    184     81     (53 )   212  

Other income (expense):

                         
 

Interest expense

    (96 )   (1 )   (40 )   (137 )
 

Share of losses of affiliates, net (note 3)

    (95 )   (2 )   (8 )   (105 )
 

Realized and unrealized gains (losses) on financial instruments, net

    (72 )   7     (199 )   (264 )
 

Losses on dispositions, net

    (2 )           (2 )
 

Other, net

    (8 )   (7 )   26     11  
                   

    (273 )   (3 )   (221 )   (497 )
                   
   

Earnings (loss) from continuing operations before income taxes

    (89 )   78     (274 )   (285 )

Income tax benefit (expense)

   
41
   
(18

)
 
114
   
137
 
                   
   

Earnings (loss) from continuing operations

    (48 )   60     (160 )   (148 )

Earnings from discontinued operations, net of taxes

        21         21  
                   
   

Net earnings (loss)

    (48 )   81     (160 )   (127 )

Less net earnings attributable to the noncontrolling interests

    9             9  
                   

Net earnings (loss) attributable to Liberty Media Corporation shareholders

    (57 )   81     (160 )   (136 )
                   

Net earnings (loss)

    (48 )   81     (160 )   (127 )
                   

Other comprehensive earnings (loss), net of taxes:

                         
 

Foreign currency translation adjustments

    (87 )           (87 )
 

Unrealized holding gains (losses) arising during the period

    (4 )   (1 )   3     (2 )
 

Recognition of previously unrealized losses on available-for-sale securities, net

    1     1         2  
 

Share of other comprehensive losses of equity affiliates

    (15 )           (15 )
 

Other comprehensive loss from discontinued operations

        (1 )       (1 )
 

Other

    17             17  
                   
       

Other comprehensive earnings (loss)

    (88 )   (1 )   3     (86 )
                   
         

Comprehensive earnings (loss)

    (136 )   80     (157 )   (213 )

Less comprehensive loss attributable to the noncontrolling interests

    (4 )           (4 )
                   

Comprehensive earnings (loss) attributable to Liberty Media Corporation shareholders

  $ (132 )   80     (157 )   (209 )
                   

7



STATEMENT OF CASH FLOWS INFORMATION
Three months ended March 31, 2010
(unaudited)

 
  Attributed (note 1)    
 
 
  Interactive
Group
  Starz
Group
  Capital
Group
  Consolidated
Liberty
 
 
  amounts in millions
 

Cash flows from operating activities:

                         
 

Net earnings

  $ 320     57     22     399  
 

Adjustments to reconcile net earnings to net cash provided by operating activities:

                         
   

Depreciation and amortization

    141     5     16     162  
   

Stock-based compensation

    22     6     11     39  
   

Cash payments for stock based compensation

        (28 )   (1 )   (29 )
   

Noncash interest expense

    25             25  
   

Share of losses (earnings) of affiliates, net

    (23 )       14     (9 )
   

Cash receipts from return on equity investments

            5     5  
   

Realized and unrealized gains (losses) on financial instruments, net

    (25 )   1     (143 )   (167 )
   

Losses (gains) on disposition of assets, net

    (364 )       1     (363 )
   

Intergroup tax allocation

    81     24     (105 )    
   

Intergroup tax payments

    (72 )   43     29      
   

Deferred income tax expense

    42     11     38     91  
   

Other noncash charges, net

    28     4     11     43  
   

Changes in operating assets and liabilities

                         
     

Current and other assets

    204     (58 )   (47 )   99  
     

Payables and other current liabilities

    (216 )   26     232     42  
                   

Net cash provided by operating activities

    163     91     83     337  
                   

Cash flows from investing activities:

                         
 

Cash proceeds from dispositions

    451     29     29     509  
 

Proceeds from settlement of financial instruments

    (31 )       445     414  
 

Investments in and loans to cost and equity investees

            (176 )   (176 )
 

Repayment of loan by equity investee

            25     25  
 

Capital expended for property and equipment

    (59 )       (2 )   (61 )
 

Net sales of short term investments

            35     35  
 

Net increase in restricted cash

    (1 )   (20 )   (23 )   (44 )
 

Reattribution of cash

    807         (807 )    
 

Other investing activities, net

    (8 )           (8 )
                   

Net cash provided (used) by investing activities

    1,159     9     (474 )   694  
                   

Cash flows from financing activities:

                         
 

Borrowings of debt

    1,021         38     1,059  
 

Repayments of debt

    (1,142 )   (1 )   (524 )   (1,667 )
 

Intergroup debt borrowings/(repayments)

    (316 )   158     158      
 

Repurchases of Liberty common stock

        (40 )   (4 )   (44 )
 

Other financing activities, net

    (27 )   (6 )   46     13  
                   

Net cash provided (used) by financing activities

    (464 )   111     (286 )   (639 )
                   

Effect of foreign currency rates on cash

    (11 )           (11 )
                   
 

Net increase (decrease) in cash and cash equivalents

    847     211     (677 )   381  
 

Cash and cash equivalents at beginning of period

    884     794     3,157     4,835  
                   
 

Cash and cash equivalents at end period

  $ 1,731     1,005     2,480     5,216  
                   

8



STATEMENT OF CASH FLOWS INFORMATION
Three months ended March 31, 2009
(unaudited)

 
  Attributed (note 1)    
 
 
  Interactive
Group
  Starz
Group
  Capital
Group
  Consolidated
Liberty
 
 
  amounts in millions
 

Cash flows from operating activities:

                         
 

Net earnings (loss)

  $ (48 )   81     (160 )   (127 )
 

Adjustments to reconcile net earnings (loss) to net cash provided by operating activities:

                         
   

Earnings from discontinued operations

        (21 )       (21 )
   

Depreciation and amortization

    147     6     20     173  
   

Stock-based compensation

    10     17     1     28  
   

Noncash interest expense

    18             18  
   

Share of losses of affiliates, net

    95     2     8     105  
   

Realized and unrealized losses (gains) on financial instruments, net

    72     (7 )   199     264  
   

Losses on disposition of assets, net

    2             2  
   

Intergroup tax allocation

    37     32     (69 )    
   

Intergroup tax payments

    (71 )   (5 )   76      
   

Other intergroup cash transfers, net

    (1 )   (5 )   6      
   

Deferred income tax benefit

    (102 )   (17 )   (82 )   (201 )
   

Other noncash charges, net

    12     8     19     39  
   

Changes in operating assets and liabilities, net of the effects of acquisitions:

                         
       

Current assets

    250     (4 )   12     258  
       

Payables and other current liabilities

    (314 )   (36 )   52     (298 )
                   

Net cash provided by operating activities

    107     51     82     240  
                   

Cash flows from investing activities:

                         
 

Cash proceeds from dispositions

    70         1     71  
 

Proceeds from settlement of financial instruments

        21     40     61  
 

Investments in and loans to cost and equity investees

    (8 )       (410 )   (418 )
 

Capital expenditures

    (30 )       (5 )   (35 )
 

Net sales of short term investments

            35     35  
 

Net decrease in restricted cash

    5         7     12  
 

Other investing activities, net

    2     (11 )   (2 )   (11 )
                   

Net cash provided (used) by investing activities

    39     10     (334 )   (285 )
                   

Cash flows from financing activities:

                         
 

Borrowings of debt

    16         1,954     1,970  
 

Repayments of debt

    (8 )   (1 )   (346 )   (355 )
 

Repurchases of Liberty common stock

            (3 )   (3 )
 

Other financing activities, net

    (18 )       (4 )   (22 )
                   

Net cash provided (used) by financing activities

    (10 )   (1 )   1,601     1,590  
                   

Effect of foreign currency rates on cash

    (29 )   (8 )       (37 )
                   

Net cash provided by discontinued operations:

                         
 

Cash provided by operating activities

        5         5  
 

Cash provided by investing activities

        10         10  
 

Cash provided by financing activities

                 
 

Change in available cash held by discontinued operations

        27         27  
                   
     

Net cash provided by discontinued operations

        42         42  
 

Net increase in cash and cash equivalents

    107     94     1,349     1,550  
 

Cash and cash equivalents at beginning of period

    832     732     1,496     3,060  
                   
 

Cash and cash equivalents at end period

  $ 939     826     2,845     4,610  
                   

9



Notes to Attributed Financial Information

(unaudited)

(1)
The assets attributed to our Interactive Group include our consolidated subsidiaries QVC, Inc., Provide Commerce, Inc., Backcountry.com, Inc., Bodybuilding.com, LLC and BuySeasons, Inc., and our interests in IAC/InterActiveCorp, GSI Commerce, Inc., Expedia, Inc., HSN, Inc., Interval Leisure Group, Inc. and Tree.com, Inc. Accordingly, the accompanying attributed financial information for the Interactive Group includes our investments in IAC/InterActiveCorp, Expedia, GSI, HSN, Interval and Lending Tree, as well as the assets, liabilities, revenue, expenses and cash flows of QVC, Provide, Backcountry, Bodybuilding and BuySeasons. We have also attributed certain of our debt obligations (and related interest expense) to the Interactive Group based upon a number of factors, including the cash flow available to the Interactive Group and its ability to pay debt service and our assessment of the optimal capitalization for the Interactive Group. The specific debt obligations attributed to each of the Interactive Group, the Starz Group and the Capital Group are described in note 4 below. In addition, we have allocated certain corporate general and administrative expenses among the Interactive Group, the Starz Group and the Capital Group as described in note 5 below.

10



Notes to Attributed Financial Information (Continued)

(unaudited)

 
  Interactive
Group
increase
(decrease)
  Capital Group
increase
(decrease)
 
 
  amounts in millions
 

Assets:

             
 

Cash

  $ 807     (807 )
 

Investment in available-for-sale securities

    (307 )   307  
           
     

Net increase (decrease) to assets

    500     (500 )

Liabilities (including accumulated other comprehensive earnings:

             
   

Exchangeable senior debentures (including accrued interest)

    767     (767 )
   

Deferred tax liabilities

    1,048     (1,048 )
   

Accumulated other comprehensive earnings

    (30 )   30  
           
       

Net increase (decrease) to liabilities

    1,785     (1,785 )

Impact to attributed net assets

 
$

(1,285

)
 
1,285
 
           

11



Notes to Attributed Financial Information (Continued)

(unaudited)

(2)
Investments in available-for-sale securities, including non-strategic securities, and other cost investments are summarized as follows:

 
  March 31,
2010
  December 31,
2009
 
 
  amounts in millions
 

Capital Group

             
 

Time Warner Inc.(a)

  $ 1,070     997  
 

Time Warner Cable Inc.(a)

    458     356  
 

Sprint Nextel Corporation(a)

    270     260  
 

Motorola, Inc.(a)

    364     403  
 

Viacom, Inc. 

    261     226  
 

Live Nation Entertainment, Inc.(b)

    360      
 

CenturyTel, Inc./Embarq Corporation(a)

    191     195  
 

Other available-for-sale equity securities(a)

    218     220  
 

Sirius debt securities(c)

    450     300  
 

Other available-for-sale debt securities

    379     376  
 

Other cost investments and related receivables

    22     22  
           
   

Total attributed Capital Group

    4,043     3,355  
           

Interactive Group

             
 

IAC/InterActiveCorp(d)

    292     492  
 

Other(e)

    7     242  
           
   

Total attributed Interactive Group

    299     734  
           

Starz Group

             
 

Other

    1     31  
           
   

Total attributed Starz Group

    1     31  
           
     

Consolidated Liberty

  $ 4,343     4,120  
           

(a)
Includes shares pledged as collateral for share borrowing arrangements.

(b)
On January 25, 2010, Live Nation, Inc. and Ticketmaster Entertainment, Inc. completed a merger transaction. Liberty owned approximately 29% of the outstanding common stock of Ticketmaster and received 1.474 shares of Live Nation Entertainment, Inc. for each share of Ticketmaster. As a result of the merger Liberty now owns approximately 15% of combined entity and accounts for the new investment as an AFS security. Liberty recorded the transaction at fair value and recorded a $178 million gain. At the time of the merger that

12



Notes to Attributed Financial Information (Continued)

(unaudited)

(c)
During the three months ended March 31, 2010 Liberty acquired $150 million of Sirius 8.75% bonds due April 15, 2015 at par.

(d)
During the three months ended March 31, 2010, Liberty sold approximately 3.7 million shares of IAC in the open market for cash proceeds of approximately $77 million. Liberty also physically settled a derivative by delivering 7.5 million shares of IAC for proceeds of $153 million. The combined gain on the disposition of IAC shares, recorded in gains (losses) on dispositions, net was $53 million.

(e)
During the three months ended March 31, 2010, QVC sold its investment in GSI Commerce for aggregate cash proceeds of $220 million. QVC recognized a $132 million gain on the sale.
(3)
The following table presents information regarding certain equity method investments:

 
   
   
   
  Share of
earnings (losses)
three months
ended
March 31,
 
 
  March 31, 2010  
 
  Percentage
ownership
  Carrying
value
  Market
value
 
 
  2010   2009  
 
  dollar amounts in millions
 

Interactive Group

                               
 

Expedia

    24 % $ 634   $ 1,727   $ 14   $ 9  

Capital Group

                               
 

Sirius(a)

    40 % $ 22   $ 2,251   $ (8 ) $  

(a)
As of March 31, 2010, the Sirius Preferred Stock had a market value of $2,251 million based on the value of the common stock into which it is convertible.

13



Notes to Attributed Financial Information (Continued)

(unaudited)

(4)
Debt attributed to the Interactive Group, the Starz Group and the Capital Group is comprised of the following:

 
  March 31, 2010  
 
  Outstanding
principal
  Carrying
value
 
 
  amounts in millions
 

Capital Group

             
 

3.125% Exchangeable Senior Debentures due 2023

  $ 1,138     1,211  
 

Liberty bank facility

    750     750  
 

Liberty derivative loan

    379     379  
 

Subsidiary debt

    106     106  
           
   

Total attributed Capital Group debt

    2,373     2,446  
           

Interactive Group

             
 

5.7% Senior Notes due 2013

    803     801  
 

8.5% Senior Debentures due 2029

    287     284  
 

8.25% Senior Debentures due 2030

    504     501  
 

4% Exchangeable Senior Debentures due 2029

    469     248  
 

3.75% Exchangeable Senior Debentures due 2030

    460     230  
 

3.5% Exchangeable Senior Debentures due 2031

    492     295  
 

3.25% Exchangeable Senior Debentures due 2031

    541     338  
 

QVC 7.125% Senior Secured Notes due 2017

    500     500  
 

QVC 7.5% Senior Secured Notes due 2019

    1,000     984  
 

QVC 7.375% Senior Secured Notes due 2020

    500     500  
 

QVC bank credit facilities

    1,996     1,996  
 

Other subsidiary debt

    64     64  
           
   

Total attributed Interactive Group debt

    7,616     6,741  
           

Starz Group

             
 

Subsidiary debt

    47     47  
           
   

Total attributed Starz Group debt

    47     47  
           

Total debt

  $ 10,036     9,234  
           
(5)
Cash and stock-based compensation expense for our corporate employees has been allocated among the Interactive Group, the Starz Group and the Capital Group based on the estimated percentage of time spent providing services for each group. Other general and administrative expenses are charged directly to the groups whenever possible and are otherwise allocated based on estimated usage or some other reasonably determined methodology. Amounts allocated from the Capital Group to the Interactive Group and the Starz Group, including stock-based compensation, are as follows:

 
  Three months ended
March 31,
 
 
  2010   2009  
 
  amounts in millions
 

Interactive Group

  $ 17     6  

Starz Group

  $ 4     16  

14



Notes to Attributed Financial Information (Continued)

(unaudited)

(6)
We have accounted for income taxes for the Interactive Group, the Starz Group and the Capital Group in the accompanying attributed financial information in a manner similar to a stand-alone company basis. To the extent this methodology differs from our tax sharing policy, differences have been reflected in the attributed net assets of the groups.

(7)
The Liberty Interactive common stock, the Liberty Starz common stock and the Liberty Capital common stock have voting and conversion rights under our amended charter. Following is a summary of those rights. Holders of Series A common stock of each group are entitled to one vote per share and holders of Series B common stock of each group are entitled to ten votes per share. Holders of Series C common stock of each group, if issued, will be entitled to 1/100th of a vote per share in certain limited cases and will otherwise not be entitled to vote. In general, holders of Series A and Series B common stock vote as a single class. In certain limited circumstances, the board may elect to seek the approval of only the holders of common stock related to our Interactive Group, our Starz Group or our Capital Group.

15




QuickLinks

Attributed Financial Information for Tracking Stock Groups
SUMMARY ATTRIBUTED FINANCIAL DATA
STATEMENT OF CASH FLOWS INFORMATION Three months ended March 31, 2010 (unaudited)
STATEMENT OF CASH FLOWS INFORMATION Three months ended March 31, 2009 (unaudited)
Notes to Attributed Financial Information (unaudited)