Liberty Media Corp. (FWONA) financial statements: income statement, balance sheet and cash flow
Liberty Media Corp.'s income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Liberty Media Corp. reported revenue of $4.5B (+22.7% year on year) and net income of $596.0M (+1046.0% year on year).
Income statement
Liberty Media Corp. income statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Total revenue
$4.5B
$3.7B
$12.5B
$12.2B
Cost of services
$3.0B
$2.5B
$2.2B
$1.8B
Selling, general and administrative, including stock-based compensation
$514.0M
$419.0M
$1.9B
$2.0B
Depreciation and amortization
$393.0M
$352.0M
$1.0B
$1.0B
Impairment and acquisition costs
$27.0M
$105.0M
—
—
Total operating costs and expenses
$3.9B
$3.4B
$10.5B
$10.1B
Operating income (loss)
$577.0M
$276.0M
$2.1B
$2.1B
Interest expense
($249.0M)
($237.0M)
($782.0M)
($689.0M)
Realized and unrealized gains (losses) on financial instruments, net
$288.0M
($383.0M)
($323.0M)
$599.0M
Other, net
$117.0M
$92.0M
$93.0M
$110.0M
Total other income (expense)
$156.0M
($300.0M)
($878.0M)
$129.0M
Earnings (loss) from continuing operations before income taxes
$733.0M
($24.0M)
$1.2B
$2.2B
Income tax (expense) benefit
($137.0M)
($39.0M)
($223.0M)
($164.0M)
Net earnings (loss) from continuing operations
$596.0M
($63.0M)
—
—
Net earnings (loss) from discontinued operations
($41.0M)
($2.4B)
—
—
Net earnings (loss)
$555.0M
($2.5B)
$962.0M
$2.0B
Net earnings (loss) attributable to Liberty stockholders
$555.0M
($2.1B)
$761.0M
$1.8B
Net earnings (loss) from continuing operations attributable to Liberty stockholders:
$596.0M
($61.0M)
—
—
Net earnings (loss) from discontinued operations attributable to Liberty stockholders:
($41.0M)
($2.0B)
—
—
Basic net earnings (loss) from continuing operations attributable to Liberty stockholders per common share
$2.33
($0.47)
—
—
Basic net earnings (loss) from discontinued operations attributable to Liberty stockholders per common share
($0.45)
($6.12)
—
—
Diluted net earnings (loss) from continuing operations attributable to Liberty stockholders per common share
$2.09
($0.47)
—
—
Diluted net earnings (loss) from discontinued operations attributable to Liberty stockholders per common share
($0.45)
($6.16)
—
—
Liberty Media Corp. income statement, quarters
Line item
Jun 30, 2026 · Q2
Mar 31, 2026 · Q1
Sep 30, 2025 · Q3
Jun 30, 2025 · Q2
Total revenue
$934.0M
$711.0M
$1.1B
$1.3B
Cost of services
$605.0M
$413.0M
$664.0M
$867.0M
Selling, general and administrative, including stock-based compensation
$129.0M
$122.0M
$140.0M
$118.0M
Depreciation and amortization
$112.0M
$112.0M
$118.0M
$80.0M
Total operating costs and expenses
$846.0M
$647.0M
$936.0M
$1.1B
Operating income (loss)
$88.0M
$64.0M
$149.0M
$273.0M
Interest expense
($68.0M)
($68.0M)
($86.0M)
($57.0M)
Realized and unrealized gains (losses) on financial instruments, net
($1.0M)
$57.0M
($160.0M)
($129.0M)
Other, net
$14.0M
$5.0M
($1.0M)
$70.0M
Total other income (expense)
($55.0M)
($6.0M)
($126.0M)
($45.0M)
Earnings (loss) from continuing operations before income taxes
$33.0M
$58.0M
$23.0M
$228.0M
Income tax (expense) benefit
($25.0M)
($5.0M)
($10.0M)
($24.0M)
Net earnings (loss) from continuing operations
$8.0M
$53.0M
$13.0M
$204.0M
Net earnings (loss)
$8.0M
$53.0M
$13.0M
$204.0M
Less net earnings (loss) attributable to the redeemable noncontrolling interests
$3.0M
($4.0M)
—
—
Net earnings (loss) attributable to Liberty stockholders
$5.0M
$57.0M
$13.0M
$204.0M
Net earnings (loss) from continuing operations attributable to Liberty stockholders:
$5.0M
$57.0M
$13.0M
$204.0M
Basic net earnings (loss) from continuing operations attributable to Liberty stockholders per common share
$0.02
$0.23
($0.32)
($0.4)
Diluted net earnings (loss) from continuing operations attributable to Liberty stockholders per common share
$0.02
$0.03
($0.34)
($0.41)
Balance sheet
Liberty Media Corp. balance sheet, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Cash and cash equivalents
$1.1B
$3.0B
$2.0B
$2.2B
Trade and other receivables, net
$115.0M
$114.0M
$832.0M
$837.0M
Contract assets
$114.0M
—
—
—
Other current assets
$89.0M
$277.0M
$526.0M
$768.0M
Total current assets
$1.4B
$3.3B
$3.4B
$3.9B
Property and equipment, at cost
$1.1B
$1.0B
$4.1B
$4.5B
Accumulated depreciation
($219.0M)
($197.0M)
($2.0B)
($2.2B)
Property and equipment, net
$868.0M
$810.0M
$2.1B
$2.3B
Goodwill
$7.0B
$4.1B
$19.2B
$19.3B
Intangible assets subject to amortization, net
$5.1B
$2.7B
$3.9B
$4.3B
Deferred income tax assets
$539.0M
$760.0M
—
—
Other assets
$491.0M
$717.0M
$1.7B
$1.8B
Total assets
$15.4B
$12.9B
$41.2B
$42.5B
Accounts payable and accrued liabilities
$575.0M
$648.0M
$2.0B
$1.9B
Current portion of debt
$52.0M
$26.0M
$1.2B
$1.7B
Deferred revenue
$263.0M
$267.0M
$1.4B
$1.8B
Other current liabilities
$49.0M
$54.0M
$111.0M
$102.0M
Total current liabilities
$939.0M
$1.1B
$4.7B
$5.4B
Long-term debt, including $597 million and $588 million measured at fair value, respectively
$5.0B
$4.5B
$14.2B
$15.0B
Deferred income tax liabilities
$656.0M
—
$2.1B
$2.1B
Other liabilities
$305.0M
$242.0M
$714.0M
$874.0M
Total liabilities
$6.9B
$5.9B
$21.7B
$23.3B
Redeemable noncontrolling interests in equity of subsidiary
$693.0M
—
$894.0M
—
Common stock value
$2.0M
$3.0M
$6.0M
$5.0M
Accumulated other comprehensive earnings (loss), net of taxes
($30.0M)
($153.0M)
$12.0M
($39.0M)
Retained earnings
$7.8B
$7.2B
$15.1B
$14.6B
Total stockholders' equity
$7.8B
$7.0B
$16.4B
$16.0B
Total equity
$7.8B
$7.1B
$19.4B
$19.1B
Total liabilities and equity
$15.4B
$12.9B
$41.2B
$42.5B
Liberty Media Corp. balance sheet, quarters
Line item
Jun 30, 2026
Mar 31, 2026
Sep 30, 2025
Jun 30, 2025
Cash and cash equivalents
$1.5B
$1.3B
$1.6B
$3.4B
Trade and other receivables, net
$255.0M
$262.0M
$303.0M
$144.0M
Contract assets
$87.0M
$165.0M
—
—
Other current assets
$302.0M
$198.0M
$468.0M
$510.0M
Total current assets
$2.1B
$2.0B
$2.4B
$4.1B
Property and equipment, at cost
$1.1B
$1.1B
$1.0B
$1.0B
Accumulated depreciation
($256.0M)
($236.0M)
($202.0M)
($184.0M)
Property and equipment, net
$882.0M
$861.0M
$827.0M
$828.0M
Goodwill
$6.9B
$7.0B
$7.2B
$4.1B
Intangible assets subject to amortization, net
$4.8B
$5.0B
$5.3B
$2.6B
Deferred income tax assets
$528.0M
$535.0M
$799.0M
$790.0M
Other assets
$640.0M
$625.0M
$628.0M
$774.0M
Total assets
$15.9B
$15.9B
$17.8B
$13.8B
Accounts payable and accrued liabilities
$417.0M
$524.0M
$474.0M
$470.0M
Current portion of debt
$72.0M
$53.0M
$1.9B
$1.8B
Deferred revenue
$1.1B
$819.0M
$1.1B
$780.0M
Other current liabilities
$59.0M
$57.0M
$46.0M
$50.0M
Total current liabilities
$1.7B
$1.5B
$3.5B
$3.1B
Long-term debt
$4.9B
$5.0B
$5.1B
$3.0B
Deferred income tax liabilities
$589.0M
$644.0M
$660.0M
—
Other liabilities
$395.0M
$422.0M
$423.0M
$359.0M
Total liabilities
$7.5B
$7.5B
$9.7B
$6.5B
Redeemable noncontrolling interests in equity of subsidiary
$759.0M
$674.0M
$692.0M
—
Common stock value
$3.0M
$2.0M
$3.0M
$3.0M
Additional paid-in capital
$6.0M
—
—
—
Accumulated other comprehensive earnings (loss), net of taxes
($149.0M)
($111.0M)
($67.0M)
($81.0M)
Retained earnings
$7.8B
$7.8B
$7.4B
$7.4B
Total equity
$7.6B
$7.7B
$7.4B
$7.4B
Total liabilities and equity
$15.9B
$15.9B
$17.8B
$13.8B
Cash flow statement
Liberty Media Corp. cash flow statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Net earnings (loss)
$555.0M
($2.5B)
$962.0M
$2.0B
(Earnings) loss from discontinued operations
$41.0M
$2.4B
—
—
Depreciation and amortization
$393.0M
$352.0M
$1.0B
$1.0B
Stock-based compensation
$21.0M
$34.0M
$232.0M
$237.0M
Realized and unrealized (gains) losses on financial instruments, net
($288.0M)
$383.0M
$323.0M
($599.0M)
Deferred income tax expense (benefit)
$18.0M
$29.0M
$14.0M
$13.0M
Intergroup tax allocation
$11.0M
($109.0M)
—
—
Other charges (credits), net
$10.0M
$10.0M
$4.0M
$10.0M
Current and other assets
$84.0M
$39.0M
($38.0M)
($17.0M)
Payables and other liabilities
$63.0M
($104.0M)
$21.0M
($123.0M)
Net cash provided (used) by operating activities
$908.0M
$553.0M
$2.5B
$2.5B
Capital expended for property and equipment, including internal-use software and website development
($119.0M)
($75.0M)
($1.1B)
($735.0M)
Cash proceeds from dispositions of investments
$26.0M
$117.0M
$111.0M
$167.0M
Cash (paid) received for acquisitions, net of cash acquired
($3.3B)
($205.0M)
—
($136.0M)
Cash proceeds from foreign currency forward contracts
$3.7B
—
—
—
Cash paid for foreign currency forward contracts
($3.5B)
—
—
—
Investments in equity method affiliates and debt and equity securities
($25.0M)
($11.0M)
($226.0M)
($58.0M)
Other investing activities, net
($14.0M)
($14.0M)
($15.0M)
$97.0M
Net cash provided (used) by investing activities
($3.2B)
($187.0M)
($1.2B)
($46.0M)
Borrowings of debt
$1.7B
$645.0M
$3.8B
$6.2B
Repayments of debt
($781.0M)
($748.0M)
($4.8B)
($7.4B)
Payment to Liberty Live Holdings, Inc.
($172.0M)
—
—
—
Split-Off
($89.0M)
—
($188.0M)
—
Other financing activities, net
($12.0M)
$75.0M
$72.0M
$82.0M
Net cash provided (used) by financing activities
$694.0M
$894.0M
($1.5B)
($3.1B)
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash
$16.0M
($10.0M)
$1.0M
—
Cash provided (used) by operating activities
($38.0M)
$882.0M
—
—
Cash provided (used) by financing activities
($286.0M)
($488.0M)
—
—
Net cash provided (used) by discontinued operations
($324.0M)
($315.0M)
—
—
Net increase (decrease) in cash, cash equivalents and restricted cash
($1.9B)
$935.0M
($248.0M)
($648.0M)
Cash, cash equivalents and restricted cash at beginning of period
$3.0B
$2.0B
$2.3B
$2.9B
Cash, cash equivalents and restricted cash at end of period
$1.1B
$3.0B
$2.0B
$2.3B
Liberty Media Corp. cash flow statement, quarters
Line item
Jun 30, 2026 · YTD
Mar 31, 2026 · Q1
Sep 30, 2025 · YTD
Jun 30, 2025 · YTD
Net earnings (loss)
$61.0M
$53.0M
$222.0M
$209.0M
Depreciation and amortization
$224.0M
$112.0M
$275.0M
$157.0M
Stock-based compensation
$11.0M
$5.0M
$18.0M
$10.0M
Realized and unrealized (gains) losses on financial instruments, net
($56.0M)
($57.0M)
$224.0M
$64.0M
Deferred income tax expense (benefit)
$17.0M
$6.0M
($64.0M)
($42.0M)
Other, net
$11.0M
$8.0M
($1.0M)
($32.0M)
Current and other assets
($268.0M)
($279.0M)
($262.0M)
($147.0M)
Payables and other liabilities
$673.0M
$509.0M
$566.0M
$465.0M
Net cash provided (used) by operating activities
$673.0M
$357.0M
$785.0M
$612.0M
Capital expended for property and equipment, including internal-use software and website development
($65.0M)
($20.0M)
($58.0M)
($55.0M)
Investments in equity method affiliates and debt and equity securities
($11.0M)
($4.0M)
($23.0M)
($17.0M)
Other investing activities, net
($2.0M)
($1.0M)
($13.0M)
($14.0M)
Net cash provided (used) by investing activities
($78.0M)
($25.0M)
($3.1B)
($120.0M)
Borrowings of debt
$116.0M
—
$1.7B
—
Repayments of debt
($257.0M)
($13.0M)
($746.0M)
($11.0M)
Other financing activities, net
($38.0M)
($39.0M)
($12.0M)
$19.0M
Net cash provided (used) by financing activities
($179.0M)
($52.0M)
$990.0M
$8.0M
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash
($6.0M)
($3.0M)
$12.0M
$9.0M
Cash provided (used) by operating activities
$0
$0
$0
$0
Net cash provided (used) by discontinued operations
$0
$0
$0
$0
Net increase (decrease) in cash, cash equivalents and restricted cash
$410.0M
$277.0M
($1.4B)
$509.0M
Cash, cash equivalents and restricted cash at beginning of period
$1.1B
$1.1B
$3.0B
$3.0B
Cash, cash equivalents and restricted cash at end of period