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Quarterly report pursuant to Section 13 or 15(d)

Investments In Affiliates Accounted For Using The Equity Method

v3.5.0.2
Investments In Affiliates Accounted For Using The Equity Method
6 Months Ended
Jun. 30, 2016
Investments In Affiliates Accounted For Using The Equity Method Ìý
Investments In Affiliates Accounted For Using The Equity Method

(8)ÌýÌýÌýInvestments in Affiliates Accounted for Using the Equity Method

Ìý

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 JuneÌý30, 2016 and the carrying amount at DecemberÌý31,Ìý2015:

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

DecemberÌý31,

Ìý

Ìý

Ìý

JuneÌý30, 2016

Ìý

2015

Ìý

Ìý

ÌýÌýÌýÌý

Percentage

ÌýÌýÌýÌý

FairÌývalue

ÌýÌýÌýÌý

Carrying

ÌýÌýÌýÌý

Carrying

Ìý

Ìý

Ìý

ownership

Ìý

(Level 1)

Ìý

amount

Ìý

amount

Ìý

Ìý

Ìý

Ìý

Ìý

dollar amounts in millions

Ìý

QVC Group

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

HSN, Inc.

Ìý

38

%ÌýÌý

$

979

Ìý

$

182

Ìý

165

Ìý

Other

Ìý

various

Ìý

Ìý

NA

Ìý

Ìý

43

Ìý

43

Ìý

Total QVC Group

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

225

Ìý

208

Ìý

Ventures Group

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Expedia, Inc.

Ìý

16

%ÌýÌý

$

2,509

Ìý

Ìý

888

Ìý

927

Ìý

FTD Companies, Inc.

Ìý

37

%ÌýÌý

Ìý

255

Ìý

Ìý

259

Ìý

267

Ìý

Other

Ìý

various

Ìý

Ìý

NA

Ìý

Ìý

153

Ìý

239

Ìý

Total Ventures Group

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

1,300

Ìý

1,433

Ìý

Consolidated Liberty

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

$

1,525

Ìý

1,641

Ìý

Ìý

The following table presents Liberty's share of earnings (losses) of affiliates:

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Three months endedÌýÌýJuneÌý30,

Ìý

Six months ended JuneÌý30,

Ìý

Ìý

ÌýÌýÌýÌý

2016

ÌýÌýÌýÌý

2015

ÌýÌýÌýÌý

2016

ÌýÌýÌýÌý

2015

Ìý

Ìý

Ìý

amountsÌýinÌýmillions

Ìý

QVC Group

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

HSN, Inc.

Ìý

$

10

Ìý

12

Ìý

32

Ìý

37

Ìý

Other

Ìý

Ìý

(1)

Ìý

(3)

Ìý

(2)

Ìý

(4)

Ìý

Total QVC Group

Ìý

Ìý

9

Ìý

9

Ìý

30

Ìý

33

Ìý

Ventures Group

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Expedia, Inc.

Ìý

Ìý

2

Ìý

76

Ìý

(22)

Ìý

80

Ìý

FTD Companies, Inc.

Ìý

Ìý

2

Ìý

7

Ìý

(1)

Ìý

5

Ìý

Other

Ìý

Ìý

(13)

Ìý

(5)

Ìý

(28)

Ìý

(28)

Ìý

Total Ventures Group

Ìý

Ìý

(9)

Ìý

78

Ìý

(51)

Ìý

57

Ìý

Consolidated Liberty

Ìý

$

Ìý—

Ìý

87

Ìý

(21)

Ìý

90

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Investment in Liberty Broadband

Ìý

As discussed in note 2, in connection with the merger of Charter and TWC, on May 18, 2016, Liberty invested $2.4 billion in Liberty Broadband Series C nonvoting shares. As of June 30, 2016, Liberty has a 24% economic ownership interest in Liberty Broadband. Due to overlapping boards of directors and management, Liberty has been deemed to have significant influence over Liberty Broadband even though Liberty does not have any voting rights. Liberty has elected to apply the fair value option for its investment in Liberty Broadband as it is believed that the Company’s investors value this investment based on the trading price of Liberty Broadband. Liberty recognizes changes in the fair value of its investment in Liberty Broadband in realized and unrealized gains (losses) on financial instruments, net in the condensed consolidated statements of operations.