Quarterly report pursuant to Section 13 or 15(d)

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

v2.4.0.6
Investments In Affiliates Accounted For Using The Equity Method (Tables)
 3 Months Ended
Mar. 31, 2013
Investments In Affiliates Accounted For Using The Equity Method  
Schedule Of Equity Ownership And Carrying Amount
Liberty has various investments accounted for using the equity method. The following table includes Liberty's carrying amount, fair value, and percentage ownership of the more significant investments in affiliates at March 31, 2013 and the carrying amount at December 31, 2012:
 
March 31, 2013
 
December 31, 2012
 
Percentage
ownership
 
Market
value (level 1)
 
Carrying
amount
 
Carrying
amount
 
 
 
dollars in millions
Interactive Group
 
 
 
 
 
 
 
    HSN, Inc.
37
%
 
$
1,098

 
$
261

 
242

    Other
various

 
N/A

 
58

 
62

        Total Interactive Group
 
 
 
 
319

 
304

Ventures Group
 
 
 
 
 
 
 
    Expedia, Inc. (1)
17
%
 
1,385

 
430

 
431

    Other
various

 
N/A

 
121

 
116

        Total Ventures Group
 
 
 
 
551

 
547

Consolidated Liberty
 

 
 

 
$
870

 
851

(1)
Liberty's 22% owned consolidated subsidiary TripAdvisor, Inc. earned revenue of approximately $60 million and $52 million for the three months ended March 31, 2013 and 2012, respectively, from Expedia, Inc. (TripAdvisor's former parent).
Schedule Of Liberty's Share Of Earnings (Losses) Of Affiliates
The following table presents Liberty's share of earnings (losses) of affiliates:
 
Three months ended
March 31,
 
2013
 
2012
 
amounts in millions
Interactive Group
 
 
 
    HSN, Inc.
$
20

 
15

    Other
(4
)
 
(2
)
        Total Interactive Group
16

 
13

Ventures Group
 
 
 
    Expedia, Inc.
(20
)
 
(2
)
    TripAdvisor, Inc. (1)
NA

 
11

    Other
(7
)
 
(11
)
        Total Ventures Group
(27
)
 
(2
)
Consolidated Liberty
$
(11
)
 
11

(1)
On December 11, 2012, we acquired approximately 4.8 million additional shares of common stock of TripAdvisor (an additional 4% equity ownership interest), for $300 million, and obtained voting control of TripAdvisor. Following the date of this transaction, TripAdvisor is accounted for as a consolidated subsidiary. See note 1 for additional details of this transaction.
Expedia Consolidated Balance Sheets
Expedia Consolidated Balance Sheets
 
March 31,
2013
 
December 31, 2012
 
amounts in millions
Current assets
$
2,981

 
2,615

Property and equipment, net
419

 
409

Goodwill
3,642

 
3,016

Intangible assets, net
1,164

 
821

Other assets
226

 
224

Total assets
$
8,432

 
7,085

Current liabilities
$
3,984

 
2,982

Deferred income taxes
440

 
324

Long-term debt
1,249

 
1,249

Other liabilities
134

 
141

Noncontrolling interest
466

 
109

Equity
2,159

 
2,280

Total liabilities and equity
$
8,432

 
7,085

Expedia Consolidated Statement Of Operations
Expedia Consolidated Statements of Operations
 
Three months ended
March 31,
 
2013
 
2012
 
amounts in millions
Revenue
$
1,012

 
816

Cost of revenue
(251
)
 
(200
)
Gross profit
761

 
616

Selling, general and administrative expenses
(726
)
 
(564
)
Amortization
(13
)
 
(3
)
Restructuring charges and other
(128
)
 
—

Operating income (loss)
(106
)
 
49

Interest expense
(22
)
 
(21
)
Other income (expense), net
9

 
(1
)
Income tax (expense) benefit
12

 
(5
)
Income (loss) from continuing operations
(107
)
 
22

Earnings (loss) from discontinued operations
—

 
(24
)
Net earnings (loss)
(107
)
 
(2
)
Less net earnings (loss) attributable to noncontrolling interests
3

 
(1
)
Net earnings (loss) attributable to Expedia, Inc. shareholders
$
(104
)
 
(3
)