Information About Liberty's Operating Segments (Tables)

6 Months Ended

Jun. 30, 2026

Information About Liberty's Operating Segments

Schedule of performance measures


		Three months ended June 30, 2026
							Reportable		Corporate and
		Formula 1			MotoGP		segments total		Other		Eliminations		Total

		amounts in millions
Revenue:
Primary revenue		$	622		150		772		—		—		772
Other revenue			142		20		162		6		(6)		162
Total revenue			764		170		934		6		(6)		934
Operating expenses:
Team payments			(316)		—		(316)		—		—		(316)
Other cost of revenue			(220)		(75)		(295)		—		6		(289)
Selling, general and administrative, excluding stock-based compensation			(89)		(19)		(108)		(15)		—		(123)
Adjusted OIBDA		$	139		76		215		(9)		—		206


		Six months ended June 30, 2026
							Reportable		Corporate and
		Formula 1			MotoGP		segments total		Other		Eliminations		Total

		amounts in millions
Revenue:
Primary revenue		$	1,118		233		1,351		—		—		1,351
Other revenue			263		31		294		12		(12)		294
Total revenue			1,381		264		1,645		12		(12)		1,645
Operating expenses:
Team payments			(500)		—		(500)		—		—		(500)
Other cost of revenue			(396)		(134)		(530)		—		12		(518)
Selling, general and administrative, excluding stock-based compensation			(174)		(38)		(212)		(28)		—		(240)
Adjusted OIBDA		$	311		92		403		(16)		—		387


		Three months ended June 30, 2025
					Corporate and
		Formula 1			Other		Eliminations		Total

		amounts in millions
Revenue:
Primary revenue		$	1,032		—		—		1,032
Other revenue			194		145		(30)		309
Total revenue			1,226		145		(30)		1,341
Operating expenses:
Team payments			(513)		—		—		(513)
Other cost of revenue			(274)		(113)		33		(354)
Selling, general and administrative, excluding stock-based compensation			(78)		(24)		(3)		(105)
Adjusted OIBDA		$	361		8		—		369


		Six months ended June 30, 2025
					Corporate and
		Formula 1			Other		Eliminations		Total

		amounts in millions
Revenue:
Primary revenue		$	1,351		—		—		1,351
Other revenue			278		198		(39)		437
Total revenue			1,629		198		(39)		1,788
Operating expenses:
Team payments			(627)		—		—		(627)
Other cost of revenue			(402)		(152)		39		(515)
Selling, general and administrative, excluding stock-based compensation			(154)		(50)		—		(204)
Adjusted OIBDA		$	446		(4)		—		442

Schedule of other information by segment


		June 30, 2026
		amounts in millions
Formula 1		$	8,885
MotoGP			6,029
Corporate and other			1,541
Elimination			(576)
Total Assets		$	15,879

Schedule Of reconciliation of adjusted OIBDA to operating income (loss) and earnings (loss) from continuing operations before income taxes


		Three months ended					Six months ended
		June 30,					June 30,
		2026			2025		2026		2025

		amounts in millions
Adjusted OIBDA		$	206		369		387		442
Concorde incentive payments			—		—		—		(50)
Acquisition costs			—		(3)		—		(14)
Stock-based compensation			(6)		(6)		(11)		(8)
Depreciation and amortization			(112)		(80)		(224)		(157)
Operating income (loss)			88		280		152		213
Interest expense			(68)		(49)		(136)		(97)
Realized and unrealized gains (losses) on financial instruments, net			(1)		160		56		235
Other, net			14		68		19		99
Earnings (loss) from continuing operations before income taxes		$	33		459		91		450