Quarterly report pursuant to Section 13 or 15(d)

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

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Investments In Affiliates Accounted For Using The Equity Method (Tables)
9 Months Ended
Sep. 30, 2015
Investments In Affiliates Accounted For Using The Equity Method  
Schedule Of Equity Ownership And Carrying Amount

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31,

 

 

 

September 30, 2015

 

2014

 

 

    

Percentage

    

Fair value

    

Carrying

    

Carrying

 

 

 

ownership

 

(Level 1)

 

amount

 

amount

 

 

 

 

 

dollar amounts in millions

 

QVC Group

 

 

 

 

 

 

 

 

 

 

 

HSN, Inc. (1)

 

38

%  

$

1,146

 

$

159

 

328

 

Other

 

various

 

 

NA

 

 

45

 

47

 

Total QVC Group

 

 

 

 

 

 

 

204

 

375

 

Ventures Group

 

 

 

 

 

 

 

 

 

 

 

Expedia, Inc.

 

18

%  

$

2,778

 

 

626

 

514

 

FTD Companies, Inc.

 

36

%  

 

304

 

 

343

 

355

 

Other

 

various

 

 

NA

 

 

333

 

389

 

Total Ventures Group

 

 

 

 

 

 

 

1,302

 

1,258

 

Consolidated Liberty

 

 

 

 

 

 

$

1,506

 

1,633

 


(1)

As further discussed in note 10, HSN, Inc. (“HSNi”) declared a special dividend during January 2015 of $10 per share from which Liberty received approximately $200 million in cash during February 2015. Accordingly, the carrying amount of Liberty’s investment in HSNi was reduced by this return of our investment during the period.

Schedule Of Liberty's Share Of Earnings (Losses) Of Affiliates

 

 

Three months ended  September 30,

 

Nine months ended September 30,

 

 

    

2015

    

2014

    

2015

    

2014

 

 

 

amounts in millions

 

QVC Group

 

 

 

 

 

 

 

 

 

 

HSN, Inc.

 

$

15

 

15

 

52

 

46

 

Other

 

 

(2)

 

(2)

 

(6)

 

(5)

 

Total QVC Group

 

 

13

 

13

 

46

 

41

 

Ventures Group

 

 

 

 

 

 

 

 

 

 

Expedia, Inc.

 

 

45

 

38

 

125

 

42

 

FTD Companies, Inc. (1)

 

 

(14)

 

NA

 

(9)

 

NA

 

Other

 

 

(13)

 

(15)

 

(41)

 

(45)

 

Total Ventures Group

 

 

18

 

23

 

75

 

(3)

 

Consolidated Liberty

 

$

31

 

36

 

121

 

38

 


As discussed in note 3, on December 31, 2014, Liberty completed a transaction with FTD for Provide, which was one of Liberty’s wholly-owned Digital Commerce businesses (as defined in note 2). Under the terms of the transaction, Liberty received approximately 10.2 million shares of FTD common stock representing approximately 35% of the combined company and approximately $145 million in cash (the “FTD Transaction”). Subsequent to completion of the transaction, Liberty accounts for FTD as an equity-method affiliate based on the ownership level and board representation.