Quarterly report pursuant to Section 13 or 15(d)

Investments In Available-For-Sale Securities And Other Cost Investments

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Investments In Available-For-Sale Securities And Other Cost Investments
9 Months Ended
Sep. 30, 2013
Investments In Available-For-Sale Securities And Other Cost Investments  
Investments in available-for-sale securities and other cost investments
Investments in Available-for-Sale Securities and Other Cost Investments
All marketable equity and debt securities held by the Company are classified as available-for-sale ("AFS") and are carried at fair value based on quoted market prices. GAAP permits entities to choose to measure many financial instruments, such as AFS securities, and certain other items at fair value and to recognize the changes in fair value of such instruments in the entity's statement of operations (the "fair value option"). In prior years, Liberty entered into economic hedges for certain of its non-strategic AFS securities (although such instruments were not accounted for as fair value hedges by the Company). Changes in the fair value of these economic hedges were reflected in Liberty's statements of operations as unrealized gains (losses). In order to better match the changes in fair value of the subject AFS securities and the changes in fair value of the corresponding economic hedges in the Company's financial statements, Liberty elected the fair value option for those of its AFS securities which it considered to be non-strategic ("Fair Value Option Securities"). Accordingly, changes in the fair value of Fair Value Option Securities, as determined by quoted market prices, are reported in realized and unrealized gains (losses) on financial instruments in the accompanying condensed consolidated statements of operations.
Investments in AFS securities, the majority of which are considered Fair Value Option Securities, and other cost investments are summarized as follows:
 
September 30,
2013
 
December 31, 2012
 
amounts in millions
Interactive Group
 
 
 
    Other cost investments
$
4

 
4

        Total attributed Interactive Group
4

 
4

Ventures Group
 
 
 
    Time Warner Inc. (1)
289

 
1,042

    Time Warner Cable Inc.
610

 
531

    AOL Inc. (1)

 
59

    TripAdvisor AFS securities
164

 
99

    Other AFS investments
276

 
84

     Total attributed Ventures Group
1,339

 
1,815

Consolidated Liberty
$
1,343

 
1,819



(1) Liberty sold 17.4 million shares of Time Warner Inc. and 2.0 million shares of AOL Inc. for proceeds of $1,099 million during the three months ended June 30, 2013 in connection with the redemption of the 3.125% Exchangeable Senior Debentures, as discussed in note 9.