Annual report pursuant to Section 13 and 15(d)

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

v2.4.0.8
Investments In Available-For-Sale Securities And Other Cost Investments
12 Months Ended
Dec. 31, 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 generally 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 statement 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 considers 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 consolidated statements of operations.
Investments in AFS securities, the majority of which are considered Fair Value Option Securities, excluding the TripAdvisor AFS securities and other cost investments, are summarized as follows:
 
December 31, 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)
$
306

 
1,042

Time Warner Cable Inc.
741

 
531

Other AFS investments (1)
262

 
143

TripAdvisor AFS Securities
188

 
99

Total attributed Ventures Group
1,497

 
1,815

Consolidated Liberty
$
1,501

 
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 2013 in connection with the redemption of the 3.125% Exchangeable Senior Debentures, as discussed in note 11.