Revenue and Financial Performance - Formula One Group reported a total revenue of $3,653 million for the year ended December 31, 2024, an increase of 6% compared to $3,222 million in 2023[7] - Adjusted OIBDA for Formula One Group was $774 million for the full year 2024, compared to $686 million in 2023, reflecting a growth of 13%[7] - Operating income for Formula One Group increased to $297 million in 2024, up from $287 million in 2023[7] - Formula 1 revenue for the twelve months ended December 31, 2024, was $3,318 million, an increase from $3,222 million in 2023[38] - Total revenue for Liberty Media Corporation for the twelve months ended December 31, 2024, was $3,653 million, compared to $3,572 million in 2023[38] - Operating income for Liberty Media Corporation for the twelve months ended December 31, 2024, was $276 million, compared to $255 million in 2023[38] - Net earnings attributable to Liberty stockholders for the twelve months ended December 31, 2024, were a loss of $2,063 million, significantly impacted by discontinued operations[38] - Net earnings for Liberty Media Corporation were $962 million for the twelve months ended December 31, 2023, compared to a loss of $2,475 million in the previous period[45] Cash Flow and Debt Management - Total cash and cash equivalents attributed to Formula One Group decreased by $35 million during Q4 2024, primarily due to cash used in operations and capital expenditures[30] - Total debt attributed to Formula One Group remained relatively flat at $2,928 million as of December 31, 2024, compared to $2,992 million in the previous quarter[30] - Total cash and cash equivalents attributed to Liberty Live Group decreased by $63 million during Q4 2024, mainly due to debt reduction and interest payments[31] - Total attributed Liberty Live Group debt decreased by $50 million during the quarter, settling the remaining 0.5% Live Nation exchangeable senior debentures due 2050[31] - Cash provided by operating activities was $634 million, a significant increase from a cash used of $14 million in the prior year[45] - The company reported a net cash used by investing activities of $544 million, primarily due to capital expenditures of $461 million[45] - Cash flows from financing activities resulted in a net cash used of $285 million, reflecting significant debt repayments[45] - The company reported a net increase in cash of $935 million for the period, despite cash used by discontinued operations of $315 million[45] Strategic Initiatives and Future Outlook - Liberty Media extended the regulatory approval date for the MotoGP acquisition to June 30, 2025[2] - The company has strategic priorities for 2025, including expectations regarding the planned acquisition of MotoGP[33] - Team payments as a percentage of pre-team payment Adjusted OIBDA decreased from 62.6% in 2023 to 61.5% in 2024[16] - Liberty Media has a remaining repurchase authorization of $1.1 billion for common shares as of February 1, 2025[22] Attendance and Engagement - Formula 1 fan attendance reached 6.5 million in 2024, up 9% from 2023[2] Other Financial Metrics - The fair value of Live Nation investment attributed to Liberty Live Group was $9.0 billion as of December 31, 2024[2] - The Liberty Live Group reported an Adjusted OIBDA loss of $9 million for 2023, with a slight improvement expected to a loss of $7 million in 2024[50] - The company incurred $32 million in costs related to corporate acquisitions and a $73 million non-cash impairment charge during the year ended December 31, 2024[50] - Liberty Media's depreciation and amortization expenses totaled $406 million for the year, contributing to the overall financial performance[45]
Liberty(LLYVA) - 2024 Q4 - Annual Results