Annual report pursuant to Section 13 and 15(d)

Investments In Affiliates Accounted For Using The Equity Method (Tables)

v3.6.0.2
Investments In Affiliates Accounted For Using The Equity Method (Tables)
12 Months Ended
Dec. 31, 2016
Investments In Affiliates Accounted For Using The Equity Method  
Schedule Of Equity Ownership And Carrying Amount

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2016

 

December 31, 2015

 

 

 

Percentage

 

Market

 

Carrying

 

Carrying

 

 

 

ownership

 

value

 

amount

 

amount

 

 

 

 

 

dollars in millions

 

QVC Group

    

 

    

 

 

    

 

 

    

 

 

HSN (1)

 

38

%

$

687

 

$

184

 

165

 

Other

 

various

 

 

NA

 

 

40

 

43

 

Total QVC Group

 

 

 

 

 

 

 

224

 

208

 

Ventures Group

 

 

 

 

 

 

 

 

 

 

 

FTD

 

37

%

$

243

 

 

216

 

267

 

Other (2)

 

various

 

 

NA

 

 

141

 

239

 

Total Ventures Group

 

 

 

 

 

 

 

357

 

506

 

Consolidated Liberty

 

 

 

 

 

 

$

581

 

714

 

 

Schedule Of Liberty's Share Of Earnings (Losses) Of Affiliates

 

 

 

 

 

 

 

 

 

 

 

Years ended December 31,

 

 

    

2016

    

2015

    

2014

 

 

 

amounts in millions

 

QVC Group

 

 

 

 

 

 

 

 

HSN

 

$

48

 

64

 

60

 

Other

 

 

(6)

 

(9)

 

(9)

 

Total QVC Group

 

 

42

 

55

 

51

 

Ventures Group

 

 

 

 

 

 

 

 

FTD (3)

 

 

(41)

 

(83)

 

 —

 

Other (2)

 

 

(69)

 

(150)

 

(70)

 

Total Ventures Group

 

 

(110)

 

(233)

 

(70)

 

Consolidated Liberty

 

$

(68)

 

(178)

 

(19)

 

 

(1)

HSN paid dividends of $28 million, $228 million, and $22 million during the years ended December 31, 2016, 2015 and 2014, respectively, which were recorded as reductions to the investment balances, and recorded as a cash inflow from operations in the Cash receipts from returns on equity investments line item in the consolidated statements of cash flows.  Dividends from HSNi during the year ended December 31, 2015 included a special dividend of $10 per share from which Liberty received approximately $200 million in cash, which was recorded as a cash inflow from investing activities in the Cash receipts from returns of equity investments line item in the consolidated statements of cash flows.

(2)

The Other category for the Ventures Group is comprised of investments in LendingTree, alternative energy investments and other investments. The alternative energy investments generally operate at a loss but provide favorable tax attributes recorded through the income tax (expense) benefit line item in the consolidated statements of operations. During the year ended December 31, 2015, Liberty recorded an impairment of approximately $98 million, based on a discounted cash flow valuation (Level 3), related to one of its alternative energy investments which has underperformed operationally.

(3)

The carrying value of Liberty’s investment in FTD was impaired to the fair value (based on the closing price (Level 1)) as of December 31, 2015.