Annual report pursuant to Section 13 and 15(d)

Debt (Tables)

v3.3.1.900
Debt (Tables)
12 Months Ended
Dec. 31, 2015
Long-term Debt, Unclassified [Abstract]  
Debt Excluding Intergroup Debt

 

 

 

 

 

 

 

 

 

 

 

Outstanding

 

 

 

 

 

 

    

principal

    

Carrying value

 

 

 

December 31,

 

December 31,

 

December 31,

 

 

 

2015

 

2015

 

2014

 

 

 

amounts in millions

 

QVC Group

 

 

 

 

 

 

 

 

Corporate level notes and debentures

 

 

 

 

 

 

 

 

8.5% Senior Debentures due 2029

 

$

287

 

285

 

285

 

8.25% Senior Debentures due 2030

 

 

504

 

501

 

501

 

1% Exchangeable Senior Debentures due 2043

 

 

346

 

349

 

444

 

Subsidiary level notes and facilities

 

 

 

 

 

 

 

 

QVC 3.125% Senior Secured Notes due 2019

 

 

400

 

399

 

399

 

QVC 7.375% Senior Secured Notes due 2020

 

 

 —

 

 —

 

500

 

QVC 5.125% Senior Secured Notes due 2022

 

 

500

 

500

 

500

 

QVC 4.375% Senior Secured Notes due 2023

 

 

750

 

750

 

750

 

QVC 4.85% Senior Secured Notes due 2024

 

 

600

 

600

 

600

 

QVC 4.45% Senior Secured Notes due 2025

 

 

600

 

599

 

599

 

QVC 5.45% Senior Secured Notes due 2034

 

 

400

 

399

 

399

 

QVC 5.95% Senior Secured Notes due 2043

 

 

300

 

300

 

300

 

QVC Bank Credit Facilities

 

 

1,815

 

1,815

 

508

 

Other subsidiary debt

 

 

72

 

72

 

75

 

Deferred loan costs

 

 

 

 

(34)

 

(43)

 

Total QVC Group

 

$

6,574

 

6,535

 

5,817

 

Ventures Group

 

 

 

 

 

 

 

 

Corporate level debentures

 

 

 

 

 

 

 

 

4% Exchangeable Senior Debentures due 2029

 

$

437

 

257

 

294

 

3.75% Exchangeable Senior Debentures due 2030

 

 

437

 

275

 

291

 

3.5% Exchangeable Senior Debentures due 2031

 

 

346

 

312

 

325

 

0.75% Exchangeable Senior Debentures due 2043

 

 

850

 

1,287

 

1,220

 

Subsidiary level notes and facilities

 

 

 

 

 

 

 

 

Other subsidiary debt

 

 

41

 

41

 

61

 

Total Ventures Group

 

$

2,111

 

2,172

 

2,191

 

Total consolidated Liberty debt

 

$

8,685

 

8,707

 

8,008

 

Less debt classified as current

 

 

 

 

(1,226)

 

(946)

 

Total long-term debt

 

 

 

 

7,481

 

7,062

 

 

Schedule of Five Year Maturities

The annual principal maturities of Liberty's debt, based on stated maturity dates, for each of the next five years is as follows (amounts in millions):

 

 

 

 

 

 

 

2016

    

$

390

 

2017

 

$

27

 

2018

 

$

29

 

2019

 

$

428

 

2020

 

$

1,837

 

 

Debt Securities That Are Not Reported At Fair Value

The fair value, based on quoted prices of instruments but not considered to be active markets (Level 2), of Liberty's publicly traded debt securities that are not reported at fair value in the accompanying consolidated balance sheets is as follows (amounts in millions):

 

 

 

 

 

 

 

 

 

December 31,

 

 

    

2015

    

2014

 

Senior debentures

 

$

809

 

882

 

QVC senior secured notes

 

$

3,374

 

4,118