Quarterly report pursuant to Section 13 or 15(d)

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

v3.8.0.1
Investments In Affiliates Accounted For Using The Equity Method (Tables)
 9 Months Ended
Sep. 30, 2017
Schedule Of Equity Ownership And Carrying Amount

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31,

 

 

 

September 30, 2017

 

2016

 

 

    

Percentage

    

Fair value

    

Carrying

    

Carrying

 

 

 

ownership

 

(Level 1)

 

amount

 

amount

 

 

 

 

 

dollar amounts in millions

 

QVC Group

 

 

 

 

 

 

 

 

 

 

 

HSN

 

38

%  

$

782

 

$

198

 

184

 

Other

 

various

 

 

NA

 

 

38

 

40

 

Total QVC Group

 

 

 

 

 

 

 

236

 

224

 

Ventures Group

 

 

 

 

 

 

 

 

 

 

 

FTD (1)

 

37

%  

 

133

 

 

133

 

216

 

LendingTree (2)

 

27

%  

 

788

 

 

113

 

31

 

Other

 

various

 

 

NA

 

 

91

 

110

 

Total Ventures Group

 

 

 

 

 

 

 

337

 

357

 

Consolidated Liberty

 

 

 

 

 

 

$

573

 

581

 

 

(1)

The Company recorded an impairment on its investment in FTD during the third quarter of 2017 in the amount of $50 million.

(2)

During the nine months ended September 30, 2017, the Company purchased an additional 450 thousand shares of LendingTree.

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

 

 

 

 

 

 

 

 

 

 

 

 

 

Three months ended  September 30,

 

Nine months ended September 30,

 

 

    

2017

    

2016

    

2017

    

2016

 

 

 

amounts in millions

 

QVC Group

 

 

 

 

 

 

 

 

 

 

HSN

 

$

12

 

 9

 

35

 

41

 

Other

 

 

(1)

 

(1)

 

(4)

 

(3)

 

Total QVC Group

 

 

11

 

 8

 

31

 

38

 

Ventures Group

 

 

 

 

 

 

 

 

 

 

FTD (1)

 

 

(81)

 

(7)

 

(86)

 

(8)

 

LendingTree

 

 

 2

 

 2

 

 5

 

10

 

Other

 

 

(18)

 

(25)

 

(72)

 

(61)

 

Total Ventures Group

 

 

(97)

 

(30)

 

(153)

 

(59)

 

Consolidated Liberty

 

$

(86)

 

(22)

 

(122)

 

(21)

 

 

(1)

As discussed above, the Company recorded an impairment of $50 million on its investment in FTD during the third quarter of 2017 which is reflected in the share of earnings (losses) of affiliates line item in the condensed consolidated statement of operations for the three and nine months ended September 30, 2017.

Liberty Broadband  
Consolidated Balance Sheets

 

 

 

 

 

 

 

 

 

September 30, 2017

 

December 31, 2016

 

 

 

amounts in millions

 

Current assets

 

$

142

 

258

 

Investment in Charter, accounted for using the equity method

 

 

9,327

 

9,315

 

Other assets

 

 

13

 

18

 

Total assets

 

 

9,482

 

9,591

 

Long-term debt, including current portion

 

 

497

 

599

 

Deferred income taxes

 

 

498

 

505

 

Other liabilities

 

 

17

 

14

 

Equity

 

 

8,470

 

8,473

 

Total liabilities and shareholders’ equity

 

$

9,482

 

9,591

 

 

Consolidated Statement Of Operations

 

 

 

 

 

 

 

 

 

 

 

Three months ended 

 

Nine months ended

 

September 30,

 

September 30,

 

2017

 

2016

 

2017

 

2016

 

 

amounts in millions

 

amounts in millions

Revenue

$

 3

 

21

 

10

 

27

 

Operating expenses, net

 

 9

 

14

 

29

 

41

 

Operating income (loss)

 

(6)

 

 7

 

(19)

 

(14)

 

Share of earnings (losses) of affiliates

 

(5)

 

19

 

25

 

570

 

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

 

 3

 

 —

 

 5

 

93

 

Gain (loss) on dilution of investment in affiliate

 

(4)

 

(16)

 

(42)

 

760

 

Other income (expense), net

 

(5)

 

(4)

 

(14)

 

(5)

 

Income tax benefit (expense)

 

 7

 

(2)

 

18

 

(532)

 

Net earnings (loss)

$

(10)

 

 4

 

(27)

 

872