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<div> <div>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><b><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">(6)<font
class="_mt"> </font><u>Investments in Available-for-Sale Securities and Other Cost Investments</u> </font></b></p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">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.<font
class="_mt"> </font></font><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">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").<font
class="_mt"> </font>Liberty has entered into economic hedges for certain of its non-strategic AFS securities (although such instruments are not accounted for as fair value hedges by the Company).<font
class="_mt"> </font>Changes in the fair value of these economic hedges are reflected in Liberty's statement of operations as unrealized gains (losses).<font
class="_mt"> </font>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 has elected the fair value option for those of its AFS securities which it considers to be non-strategic ("Non-strategic Securities").<font
class="_mt"> </font>Accordingly, changes in the fair value of Non-strategic 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.<font
class="_mt"> </font>The total value of the Non-strategic Securities aggregated $3,211 million as of March 31, 2010.</font></p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font> </p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: normal; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Investments in AFS securities, including Non-strategic Securities, and</font><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> other cost investments are summarized as follows: </font></p>
<table
class="MsoNormalTable"
style="font-size: 10pt; margin-left: 0px! important; font-family: 'Times New Roman','serif'; border-collapse: collapse;" cellspacing="0" cellpadding="0" width="630" border="0">
<tr>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 319.5pt; padding-top: 0in;" valign="top" width="426">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 49.5pt; text-indent: -13.5pt; line-height: 10pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 76.5pt; padding-top: 0in;" valign="top" width="102">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 5.5pt; line-height: 10pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>March 31,<font
class="_mt"> </font></font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 76.5pt; padding-top: 0in;" valign="top" width="102">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 5.5pt; line-height: 10pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>December 31,</font></p></td></tr>
<tr>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 319.5pt; padding-top: 0in;" valign="top" width="426">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 49.5pt; text-indent: -13.5pt; line-height: 10pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 76.5pt; padding-top: 0in;" valign="top" width="102">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 5.5pt; line-height: 10pt; border-bottom: black 1px solid; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>2010<font
class="_mt"> </font></font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 76.5pt; padding-top: 0in;" valign="top" width="102">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 5.5pt; line-height: 10pt; border-bottom: black 1px solid; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>2009<font
class="_mt"> </font></font></p></td></tr>
<tr>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 319.5pt; padding-top: 0in;" valign="top" width="426">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 49.5pt; text-indent: -13.5pt; line-height: 10pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 153pt; padding-top: 0in;" valign="top" width="204" colspan="2">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 5.5pt; line-height: 10pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>amounts in millions<font
class="_mt"> </font></font></p></td></tr>
<tr
style="height: 10.35pt;">
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 319.5pt; padding-top: 0in; height: 10.35pt;" valign="top" width="426">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 49.5pt; text-indent: -13.5pt; line-height: 10pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Capital Group</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 76.5pt; padding-top: 0in; height: 10.35pt;" valign="top" width="102">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 5.5pt; line-height: 10pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 76.5pt; padding-top: 0in; height: 10.35pt;" valign="top" width="102">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 4.5pt; line-height: 10pt; font-family: Courier;"> </p></td></tr>
<tr>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 319.5pt; padding-top: 0in;" valign="top" width="426">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 63pt; text-indent: -13.5pt; line-height: 10pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Time Warner Inc. (1)</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 76.5pt; padding-top: 0in;" valign="top" width="102">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 5.5pt; line-height: 10pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">$<font
class="_mt"> </font>1,070</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 76.5pt; padding-top: 0in;" valign="top" width="102">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 5.5pt; line-height: 10pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>997</font></p></td></tr>
<tr>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 319.5pt; padding-top: 0in;" valign="top" width="426">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 63pt; text-indent: -13.5pt; line-height: 10pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Time Warner Cable Inc. (1)</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 76.5pt; padding-top: 0in;" valign="top" width="102">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 5.5pt; line-height: 10pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>458</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 76.5pt; padding-top: 0in;" valign="top" width="102">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 5.5pt; line-height: 10pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>356</font></p></td></tr>
<tr>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 319.5pt; padding-top: 0in;" valign="top" width="426">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 63pt; text-indent: -13.5pt; line-height: 10pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Sprint Nextel Corporation ("Sprint") (1)</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 76.5pt; padding-top: 0in;" valign="top" width="102">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 5.5pt; line-height: 10pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>270</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 76.5pt; padding-top: 0in;" valign="top" width="102">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 5.5pt; line-height: 10pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>260</font></p></td></tr>
<tr>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 319.5pt; padding-top: 0in;" valign="top" width="426">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 63pt; text-indent: -13.5pt; line-height: 10pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Motorola, Inc. (1)</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 76.5pt; padding-top: 0in;" valign="top" width="102">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 5.5pt; line-height: 10pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>364</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 76.5pt; padding-top: 0in;" valign="top" width="102">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 5.5pt; line-height: 10pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>403</font></p></td></tr>
<tr>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 319.5pt; padding-top: 0in;" valign="top" width="426">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 63pt; text-indent: -13.5pt; line-height: 10pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Viacom, Inc.</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 76.5pt; padding-top: 0in;" valign="top" width="102">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 5.5pt; line-height: 10pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>261</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 76.5pt; padding-top: 0in;" valign="top" width="102">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 5.5pt; line-height: 10pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>226</font></p></td></tr>
<tr>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 319.5pt; padding-top: 0in;" valign="top" width="426">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 63pt; text-indent: -13.5pt; line-height: 10pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Live Nation (2)</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 76.5pt; padding-top: 0in;" valign="top" width="102">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 5.5pt; line-height: 10pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>360</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 76.5pt; padding-top: 0in;" valign="top" width="102">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 5.5pt; line-height: 10pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>--</font></p></td></tr>
<tr>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 319.5pt; padding-top: 0in;" valign="top" width="426">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 63pt; text-indent: -13.5pt; line-height: 10pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">CenturyTel, Inc./Embarq Corporation (1)</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 76.5pt; padding-top: 0in;" valign="top" width="102">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 5.5pt; line-height: 10pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>191</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 76.5pt; padding-top: 0in;" valign="top" width="102">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 5.5pt; line-height: 10pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>195</font></p></td></tr>
<tr>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 319.5pt; padding-top: 0in;" valign="top" width="426">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 63pt; text-indent: -13.5pt; line-height: 10pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Other AFS equity securities (1)</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 76.5pt; padding-top: 0in;" valign="top" width="102">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 5.5pt; line-height: 10pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>218</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 76.5pt; padding-top: 0in;" valign="top" width="102">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 5.5pt; line-height: 10pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>220</font></p></td></tr>
<tr>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 319.5pt; padding-top: 0in;" valign="top" width="426">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 63pt; text-indent: -13.5pt; line-height: 10pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Sirius debt securities (3)</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 76.5pt; padding-top: 0in;" valign="top" width="102">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 5.5pt; line-height: 10pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>450</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 76.5pt; padding-top: 0in;" valign="top" width="102">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 5.5pt; line-height: 10pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>300</font></p></td></tr>
<tr>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 319.5pt; padding-top: 0in;" valign="top" width="426">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 63pt; text-indent: -13.5pt; line-height: 10pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Other AFS debt securities</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 76.5pt; padding-top: 0in;" valign="top" width="102">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 5.5pt; line-height: 10pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>379</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 76.5pt; padding-top: 0in;" valign="top" width="102">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 5.5pt; line-height: 10pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>376</font></p></td></tr>
<tr>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 319.5pt; padding-top: 0in;" valign="top" width="426">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 63pt; text-indent: -13.5pt; line-height: 10pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Other cost investments and related receivables</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 76.5pt; padding-top: 0in;" valign="top" width="102">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 5.5pt; line-height: 10pt; border-bottom: black 1px solid; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>22</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 76.5pt; padding-top: 0in;" valign="top" width="102">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 5.5pt; line-height: 10pt; border-bottom: black 1px solid; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>22</font></p></td></tr>
<tr>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 319.5pt; padding-top: 0in;" valign="top" width="426">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 49.5pt; text-indent: -13.5pt; line-height: 10pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>Total attributed Capital Group</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 76.5pt; padding-top: 0in;" valign="top" width="102">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 5.5pt; line-height: 10pt; border-bottom: black 1px solid; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>4,043</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 76.5pt; padding-top: 0in;" valign="top" width="102">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 5.5pt; line-height: 10pt; border-bottom: black 1px solid; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>3,355</font></p></td></tr>
<tr>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 319.5pt; padding-top: 0in;" valign="top" width="426">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 49.5pt; text-indent: -13.5pt; line-height: 10pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Interactive Group</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 76.5pt; padding-top: 0in;" valign="top" width="102">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 5.5pt; line-height: 10pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 76.5pt; padding-top: 0in;" valign="top" width="102">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 5.5pt; line-height: 10pt; font-family: Courier;"> </p></td></tr>
<tr>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 319.5pt; padding-top: 0in;" valign="top" width="426">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 63pt; text-indent: -13.5pt; line-height: 10pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">IAC (4)</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 76.5pt; padding-top: 0in;" valign="top" width="102">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 5.5pt; line-height: 10pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>292</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 76.5pt; padding-top: 0in;" valign="top" width="102">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 5.5pt; line-height: 10pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>492</font></p></td></tr>
<tr>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 319.5pt; padding-top: 0in;" valign="top" width="426">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 63pt; text-indent: -13.5pt; line-height: 10pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Other (5)</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 76.5pt; padding-top: 0in;" valign="top" width="102">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 5.5pt; line-height: 10pt; border-bottom: black 1px solid; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>7</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 76.5pt; padding-top: 0in;" valign="top" width="102">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 5.5pt; line-height: 10pt; border-bottom: black 1px solid; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>242</font></p></td></tr>
<tr>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 319.5pt; padding-top: 0in;" valign="top" width="426">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 63pt; text-indent: -13.5pt; line-height: 10pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>Total attributed Interactive Group</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 76.5pt; padding-top: 0in;" valign="top" width="102">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 5.5pt; line-height: 10pt; border-bottom: black 1px solid; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>299</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 76.5pt; padding-top: 0in;" valign="top" width="102">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 5.5pt; line-height: 10pt; border-bottom: black 1px solid; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>734</font></p></td></tr>
<tr>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 319.5pt; padding-top: 0in;" valign="top" width="426">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 49.5pt; text-indent: -13.5pt; line-height: 10pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Starz Group</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 76.5pt; padding-top: 0in;" valign="top" width="102">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 5.5pt; line-height: 10pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 76.5pt; padding-top: 0in;" valign="top" width="102">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 5.5pt; line-height: 10pt; font-family: Courier;"> </p></td></tr>
<tr>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 319.5pt; padding-top: 0in;" valign="top" width="426">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 63pt; text-indent: -13.5pt; line-height: 10pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Other</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 76.5pt; padding-top: 0in;" valign="top" width="102">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 5.5pt; line-height: 10pt; border-bottom: black 1px solid; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>1</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 76.5pt; padding-top: 0in;" valign="top" width="102">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 5.5pt; line-height: 10pt; border-bottom: black 1px solid; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>31</font></p></td></tr>
<tr>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 319.5pt; padding-top: 0in;" valign="top" width="426">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 63pt; text-indent: -13.5pt; line-height: 10pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>Total attributed Starz Group</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 76.5pt; padding-top: 0in;" valign="top" width="102">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 5.5pt; line-height: 10pt; border-bottom: black 1px solid; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>1</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 76.5pt; padding-top: 0in;" valign="top" width="102">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 5.5pt; line-height: 10pt; border-bottom: black 1px solid; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>31</font></p></td></tr>
<tr>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 319.5pt; padding-top: 0in;" valign="top" width="426">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 63pt; text-indent: -13.5pt; line-height: 10pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 76.5pt; padding-top: 0in;" valign="top" width="102">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 5.5pt; line-height: 10pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 76.5pt; padding-top: 0in;" valign="top" width="102">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 5.5pt; line-height: 10pt; font-family: Courier;"> </p></td></tr>
<tr>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 319.5pt; padding-top: 0in;" valign="top" width="426">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 49.5pt; text-indent: -13.5pt; line-height: 10pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>Consolidated Liberty</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 76.5pt; padding-top: 0in;" valign="top" width="102">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 5.5pt; line-height: 10pt; border-bottom: black 3px double; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">$<font
class="_mt"> </font>4,343</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 76.5pt; padding-top: 0in;" valign="top" width="102">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 5.5pt; line-height: 10pt; border-bottom: black 3px double; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>4,120</font></p></td></tr></table>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0.5in; text-indent: -0.5in; line-height: 10.8pt; font-family: Courier; text-align: justify;"><u><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font><font
class="_mt"> </font></font></u><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font></p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0.75in; text-indent: -0.75in; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>(1)<font
class="_mt"> </font>Includes shares pledged as collateral for share borrowing arrangements.<font
class="_mt"> </font>See note 8.</font></p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0.75in; text-indent: -0.75in; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font> </p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0.75in; text-indent: -0.75in; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>(2)<font
class="_mt"> </font>On January 25, 2010, Live Nation, Inc. and Ticketmaster Entertainment, Inc. completed a merger transaction.<font
class="_mt"> </font>Liberty owned approximately 29% of the outstanding common stock of Ticketmaster and received 1.474 shares of Live Nation for each share of Ticketmaster.<font
class="_mt"> </font>As a result of the merger Liberty now owns<font
class="_mt"> </font>approximately 15% of the combined entity and accounts for the new investment as an AFS security.<font
class="_mt"> </font>Liberty recorded the transaction at fair value and recorded a $178 million gain. <font
class="_mt"> </font>At the time of the merger the investment was attributed to the Interactive Group.<font
class="_mt"> </font>As a result of the reattribution the Live Nation investment is attributed to the Capital Group.</font></p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0.75in; text-indent: -0.75in; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font> </p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0.75in; text-indent: -0.75in; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>(3)<font
class="_mt"> </font>During the three months ended March 31, 2010, Liberty acquired $150 million of Sirius 8.75% bonds due April 15, 2015 at par.</font></p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0.75in; text-indent: -0.75in; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font> </p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0.75in; text-indent: -0.75in; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>(4)<font
class="_mt"> </font>During the three months ended March 31, 2010, Liberty sold approximately 3.7 million shares of IAC in the open market for cash proceeds of approximately $77 million.<font
class="_mt"> </font>Liberty also physically settled a derivative by delivering 7.5 million shares of IAC for proceeds of $153 million.<font
class="_mt"> </font>The combined gain on the disposition of IAC shares, recorded in gains (losses) on dispositions, net, was $53 million.</font></p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0.75in; text-indent: -0.75in; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font> </p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0.75in; text-indent: -0.75in; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>(5)<font
class="_mt"> </font>During the three months ended March 31, 2010, QVC sold its investment in GSI Commerce for aggregate cash proceeds of $220 million.<font
class="_mt"> </font>QVC recognized a $132 million gain on the sale.</font></p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><b><i><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font></i></b> </p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><b><i><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Unrealized Holdings Gains and Losses</font></i></b><b><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font></b></p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Unrealized holding gains and losses related to investments in AFS securities are summarized below.</font></p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font> </p>
<table
class="MsoNormalTable"
style="font-size: 10pt; margin-left: 0.9pt; font-family: 'Times New Roman','serif'; border-collapse: collapse;" cellspacing="0" cellpadding="0" border="0">
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 202.5pt; padding-top: 0in;" valign="top" width="270">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10pt; font-family: Courier; text-align: justify;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 1.75in; padding-top: 0in;" valign="top" width="168" colspan="2">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0px; line-height: 10pt; border-bottom: black 1px solid; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>March 31, 2010<font
class="_mt"> </font></font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 1.75in; padding-top: 0in;" valign="top" width="168" colspan="2">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10pt; border-bottom: black 1px solid; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>December 31, 2009<font
class="_mt"> </font></font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 202.5pt; padding-top: 0in;" valign="top" width="270">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10pt; font-family: Courier; text-align: justify;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 63pt; padding-top: 0in;" valign="top" width="84">
<p
class="MsoFootnoteText"
style="font-size: 10pt; margin: 0in 0in 0pt 0px; line-height: 10pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>Equity<font
class="_mt"> </font></font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 63pt; padding-top: 0in;" valign="top" width="84">
<p
class="MsoFootnoteText"
style="font-size: 10pt; margin: 0in 0in 0pt; line-height: 10pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>Debt<font
class="_mt"> </font></font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 63pt; padding-top: 0in;" valign="top" width="84">
<p
class="MsoFootnoteText"
style="font-size: 10pt; margin: 0in 0in 0pt; line-height: 10pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>Equity<font
class="_mt"> </font></font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 63pt; padding-top: 0in;" valign="top" width="84">
<p
class="MsoFootnoteText"
style="font-size: 10pt; margin: 0in 0in 0pt; line-height: 10pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>Debt<font
class="_mt"> </font></font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 202.5pt; padding-top: 0in;" valign="top" width="270">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10pt; font-family: Courier; text-align: justify;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 63pt; padding-top: 0in;" valign="top" width="84">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0px; line-height: 10pt; border-bottom: black 1px solid; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>securities<font
class="_mt"> </font></font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 63pt; padding-top: 0in;" valign="top" width="84">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10pt; border-bottom: black 1px solid; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>securities<font
class="_mt"> </font></font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 63pt; padding-top: 0in;" valign="top" width="84">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10pt; border-bottom: black 1px solid; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>securities<font
class="_mt"> </font></font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 63pt; padding-top: 0in;" valign="top" width="84">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10pt; border-bottom: black 1px solid; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>securities<font
class="_mt"> </font></font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 202.5pt; padding-top: 0in;" valign="top" width="270">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10pt; font-family: Courier; text-align: justify;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 3.5in; padding-top: 0in;" valign="top" width="336" colspan="4">
<p
class="MsoFootnoteText"
style="font-size: 10pt; margin: 0in 0in 0pt 0.05in; line-height: 10pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>amounts in millions<font
class="_mt"> </font></font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 202.5pt; padding-top: 0in;" valign="top" width="270">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 49.5pt; text-indent: -13.5pt; line-height: 7pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 63pt; padding-top: 0in;" valign="top" width="84">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 7pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 63pt; padding-top: 0in;" valign="top" width="84">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 7pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 63pt; padding-top: 0in;" valign="top" width="84">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 7pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 63pt; padding-top: 0in;" valign="top" width="84">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 7pt; font-family: Courier;"> </p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 202.5pt; padding-top: 0in;" valign="top" width="270">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 49.5pt; text-indent: -13.5pt; line-height: 10pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Gross unrealized holding gains</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 63pt; padding-top: 0in;" valign="top" width="84">
<p
class="MsoFootnoteText"
style="font-size: 10pt; margin: 0in 0in 0pt; line-height: 10pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">$<font
class="_mt"> </font>188</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 63pt; padding-top: 0in;" valign="top" width="84">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0.05in; line-height: 10pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>71</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 63pt; padding-top: 0in;" valign="top" width="84">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0.05in; line-height: 10pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>258</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 63pt; padding-top: 0in;" valign="top" width="84">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>69</font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 202.5pt; padding-top: 0in;" valign="top" width="270">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 49.5pt; text-indent: -13.5pt; line-height: 10pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Gross unrealized holding losses</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 63pt; padding-top: 0in;" valign="top" width="84">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">$<font
class="_mt"> </font>--</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 63pt; padding-top: 0in;" valign="top" width="84">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0.05in; line-height: 10pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>(3)</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 63pt; padding-top: 0in;" valign="top" width="84">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0.05in; line-height: 10pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>--</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 63pt; padding-top: 0in;" valign="top" width="84">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>--</font></p></td></tr></table></div> </div>
3060000000
1496000000
732000000
832000000
4610000000
2845000000
826000000
939000000
4835000000
3157000000
794000000
884000000
5216000000
2480000000
1005000000
1731000000
1550000000
1349000000
94000000
107000000
381000000
-677000000
211000000
847000000
10000000
10000000
5000000
5000000
<div> <div>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><b><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">(13)<font
class="_mt"> </font><u>Commitments and Contingencies</u> </font></b></p>
<p
class="MsoBodyText"
style="font-size: 11pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: 'Bookman Old Style','serif'; text-align: justify;"><b><i><font
class="_mt"
style="font-size: 9pt;">Film Rights</font></i></b><b><font
class="_mt"
style="font-size: 9pt;"> </font></b></p>
<p
class="MsoBodyText"
style="font-size: 11pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: 'Bookman Old Style','serif'; text-align: justify;"><font
class="_mt"
style="font-size: 9pt;">Starz Entertainment, a wholly-owned subsidiary of Liberty, provides premium video programming distributed by cable operators, direct-to-home satellite providers, telephone companies, other distributors and the Internet throughout the United States.<font
class="_mt"> </font>Starz Entertainment has entered into agreements with a number of motion picture producers which obligate Starz Entertainment to pay fees ("Programming Fees") for the rights to exhibit certain films that are released by these producers.<font
class="_mt"> </font>The unpaid balance of Programming Fees for films that were available for exhibition by Starz Entertainment at March 31, 2010 is reflected as a liability in the accompanying condensed consolidated balance sheet.<font
class="_mt"> </font>The balance due as of March 31, 2010 is payable as follows: $120 million in 2010 $5 million in 2011 and $2 million thereafter.</font></p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font> </p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Starz Entertainment has also contracted to pay Programming Fees for films that have been released theatrically, but are not available for exhibition by Starz Entertainment until some future date.<font
class="_mt"> </font>These amounts have not been accrued at March 31, 2010.<font
class="_mt"> </font></font><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Starz Entertainment is obligated to pay Programming Fees for all qualifying films that are released theatrically in the United States by studios owned by The Walt Disney Company ("Disney") through 2015 and all qualifying films that are released theatrically in the United States by studios owned by Sony through 2016.<font
class="_mt"> </font>Films are generally available to Starz Entertainment for exhibition 10-12 months after their theatrical release. <font
class="_mt"> </font>The Programming Fees to be paid by Starz Entertainment are based on the quantity and the domestic theatrical exhibition receipts of qualifying films.<font
class="_mt"> </font>As these films have not yet been released in theatres, Starz Entertainment is unable to estimate the amounts to be paid under these output agreements.<font
class="_mt"> </font>However, such amounts are expected to be significant.</font></p>
<p
class="MsoBodyText"
style="font-size: 11pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: 'Bookman Old Style','serif'; text-align: justify;"><font
class="_mt"
style="font-size: 9pt;"> </font> </p>
<p
class="MsoBodyText"
style="font-size: 11pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: 'Bookman Old Style','serif'; text-align: justify;"><font
class="_mt"
style="font-size: 9pt;">In addition, Starz Entertainment has agreed to pay Sony <font
class="_mt">Pictures Entertainment ("Sony") </font>a total of $190 million in four annual installments of $47.5 million beginning in 2011 for a contract extension. In December 2008, Starz Entertainment entered into a new agreement with Sony requiring $120 million in three equal annual installments beginning in 2015.<font
class="_mt"> </font></font><font
class="_mt"
style="font-size: 9pt;">Starz Entertainment's estimate of amounts payable under these agreements is as follows: $284 million in 2010; $235 million in 2011; $93 million in 2012; $84 million in 2013; $67 million in 2014 and $145 million thereafter.</font></p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font> </p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><b><i><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Guarantees</font></i></b><b><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font></b></p>
<p
class="MsoBodyText"
style="font-size: 11pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: 'Bookman Old Style','serif'; text-align: justify;"><font
class="_mt"
style="font-size: 9pt;">Liberty</font><font
class="_mt"
style="font-size: 9pt;"> guarantees Starz Entertainment's obligations under certain of its studio output agreements.<font
class="_mt"> </font>At March 31, 2010, Liberty's guarantees for obligations for films released by such date aggregated $673 million.<font
class="_mt"> </font>While the guarantee amount for films not yet released is not determinable, such amount is expected to be significant.<font
class="_mt"> </font>As noted above, Starz Entertainment</font><font
class="_mt"
style="font-size: 9pt;"> </font><font
class="_mt"
style="font-size: 9pt;">has recognized the liability for a portion of its obligations under the output agreements.<font
class="_mt"> </font>As this represents a direct commitment of Starz Entertainment, a consolidated subsidiary of Liberty, Liberty has not recorded a separate indirect liability for its guarantee of these obligations.</font></p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font> </p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">In connection with agreements for the sale of assets by Liberty or its subsidiaries, Liberty may retain liabilities that relate to events occurring prior to its sale, such as tax, environmental, litigation and employment matters.<font
class="_mt"> </font>Liberty generally indemnifies the purchaser in the event that a third party asserts a claim against the purchaser that relates to a liability retained by Liberty.<font
class="_mt"> </font>These types of indemnification obligations may extend for a number of years.<font
class="_mt"> </font>Liberty is unable to estimate the maximum potential liability for these types of indemnification obligations as the sale agreements may not specify a maximum amount and the amounts are dependent upon the outcome of future contingent events, the nature and likelihood of which cannot be determined at this time.<font
class="_mt"> </font>Historically, Liberty has not made any significant indemnification payments under such agreements and no amount has been accrued in the accompanying condensed consolidated financial statements with respect to these indemnification guarantees.</font></p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font> </p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><b><i><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Employment Contracts</font></i></b></p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">The Atlanta Braves and certain of their players and coaches have entered into long-term employment contracts whereby such individuals' compensation is guaranteed.<font
class="_mt"> </font>Amounts due under guaranteed contracts as of March 31, 2010 aggregated $196 million, which is payable as follows:<font
class="_mt"> </font>$77 million in 2010, $67 million in 2011 and $50 million in 2012 and $2 million thereafter.<font
class="_mt"> </font>In addition to the foregoing amounts, certain players and coaches may earn incentive compensation under the terms of their employment contracts.</font></p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font> </p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><b><i><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Operating Leases</font></i></b><b><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font></b></p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Liberty</font><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> and its subsidiaries lease business offices, have entered into satellite transponder lease agreements and use certain equipment under lease arrangements. </font></p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font> </p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><b><i><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Litigation</font></i></b><b><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font></b></p><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Liberty</font><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> has contingent liabilities related to legal and tax proceedings and other matters arising in the ordinary course of business.<font
class="_mt"> </font>Although it is reasonably possible Liberty may incur losses upon conclusion of such matters, an estimate of any loss or range of loss cannot be made.<font
class="_mt"> </font>In the opinion of management, it is expected that amounts, if any, which may be required to satisfy such contingencies will not be material in relation to the accompanying condensed consolidated financial statements. </font></div> </div>
0.01
0.01
0.01
0.01
0.01
0.01
0.01
0.01
0.01
0.01
0.01
0.01
2000000000
4000000000
4000000000
75000000
150000000
150000000
2000000000
4000000000
4000000000
75000000
150000000
150000000
89814862
49673954
567044845
7405151
2365545
29276689
89927424
48886240
567853237
7381311
2363545
29268069
89814862
49673954
567044845
7405151
2365545
29276689
89927424
48886240
567853237
7381311
2363545
29268069
1000000
6000000
1000000
6000000
-209000000
-157000000
80000000
-132000000
309000000
82000000
57000000
170000000
-4000000
-4000000
9000000
9000000
-213000000
-157000000
80000000
-136000000
318000000
82000000
57000000
179000000
1183000000
1183000000
1294000000
1294000000
2041000000
178000000
216000000
1647000000
2258000000
236000000
215000000
1807000000
1932000000
1203000000
483000000
4000000
716000000
<div> <div>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><b><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">(10)<font
class="_mt"> </font><u>Long-Term Debt</u> </font></b></p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Debt, excluding intergroup debt, is summarized as follows: </font></p>
<table
class="MsoNormalTable"
style="font-size: 10pt; font-family: 'Times New Roman','serif'; border-collapse: collapse;" cellspacing="0" cellpadding="0" width="678" border="0">
<tr>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 292.5pt; padding-top: 0in;" valign="top" width="390">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0.5in; line-height: 10.8pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="top" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 4.5pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>Outstanding<font
class="_mt"> </font></font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 2in; padding-top: 0in;" valign="top" width="192" colspan="3">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"> </p></td></tr>
<tr>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 292.5pt; padding-top: 0in;" valign="top" width="390">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0.5in; line-height: 10.8pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="top" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 4.5pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>principal<font
class="_mt"> </font></font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 2in; padding-top: 0in;" valign="top" width="192" colspan="3">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 9pt; line-height: 10.8pt; border-bottom: black 1px solid; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>Carrying value<font
class="_mt"> </font></font></p></td></tr>
<tr>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 292.5pt; padding-top: 0in;" valign="top" width="390">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0.5in; line-height: 10.8pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="top" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 4.5pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>March 31,</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="top" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 4.5pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>March 31,</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="top" width="96" colspan="2">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 4.5pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>December 31,<font
class="_mt"> </font></font></p></td></tr>
<tr>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 292.5pt; padding-top: 0in;" valign="top" width="390">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0.5in; line-height: 10.8pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="top" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 4.5pt; line-height: 10.8pt; border-bottom: black 1px solid; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>2010<font
class="_mt"> </font></font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="top" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 4.5pt; line-height: 10.8pt; border-bottom: black 1px solid; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>2010<font
class="_mt"> </font></font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 67.5pt; padding-top: 0in;" valign="top" width="90">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 4.5pt; line-height: 10.8pt; border-bottom: black 1px solid; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>2009<font
class="_mt"> </font></font></p></td>
<td
style="border-right: medium none; padding-right: 0in; border-top: medium none; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: medium none;" width="6">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0pt 0in 0pt; line-height: 12pt; font-family: Courier;"> </p></td></tr>
<tr>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 292.5pt; padding-top: 0in;" valign="top" width="390">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0.5in; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Capital Group</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 211.5pt; padding-top: 0in;" valign="top" width="282" colspan="3">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 9pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>amounts in millions<font
class="_mt"> </font></font></p></td>
<td
style="border-right: medium none; padding-right: 0in; border-top: medium none; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: medium none;" width="6">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0pt 0in 0pt; line-height: 12pt; font-family: Courier;"> </p></td></tr>
<tr>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 292.5pt; padding-top: 0in;" valign="top" width="390">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0.5in; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>Exchangeable senior debentures</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="bottom" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 4.5pt; line-height: 10.8pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="bottom" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 9pt; line-height: 10.8pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 67.5pt; padding-top: 0in;" valign="bottom" width="90">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 4.5pt; line-height: 10.8pt; font-family: Courier;"> </p></td>
<td
style="border-right: medium none; padding-right: 0in; border-top: medium none; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: medium none;" width="6">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0pt 0in 0pt; line-height: 12pt; font-family: Courier;"> </p></td></tr>
<tr>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 292.5pt; padding-top: 0in;" valign="top" width="390">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 76.5pt; text-indent: -40.5pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>3.125% Exchangeable Senior Debentures due 2023</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="bottom" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 4.5pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">$<font
class="_mt"> </font>1,138</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="bottom" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 9pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>1,211</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 67.5pt; padding-top: 0in;" valign="bottom" width="90">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 9pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>1,157</font></p></td>
<td
style="border-right: medium none; padding-right: 0in; border-top: medium none; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: medium none;" width="6">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0pt 0in 0pt; line-height: 12pt; font-family: Courier;"> </p></td></tr>
<tr>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 292.5pt; padding-top: 0in;" valign="top" width="390">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 76.5pt; text-indent: -40.5pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>4% Exchangeable Senior Debentures due 2029</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="bottom" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 4.5pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>--</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="bottom" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 9pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>--</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 67.5pt; padding-top: 0in;" valign="bottom" width="90">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 9pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>243</font></p></td>
<td
style="border-right: medium none; padding-right: 0in; border-top: medium none; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: medium none;" width="6">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0pt 0in 0pt; line-height: 12pt; font-family: Courier;"> </p></td></tr>
<tr>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 292.5pt; padding-top: 0in;" valign="top" width="390">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 76.5pt; text-indent: -40.5pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>3.75% Exchangeable Senior Debentures due 2030</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="bottom" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 4.5pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>--</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="bottom" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 9pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>--</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 67.5pt; padding-top: 0in;" valign="bottom" width="90">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 9pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>237</font></p></td>
<td
style="border-right: medium none; padding-right: 0in; border-top: medium none; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: medium none;" width="6">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0pt 0in 0pt; line-height: 12pt; font-family: Courier;"> </p></td></tr>
<tr>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 292.5pt; padding-top: 0in;" valign="top" width="390">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 76.5pt; text-indent: -40.5pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>3.5% Exchangeable Senior Debentures due 2031</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="bottom" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 4.5pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>--</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="bottom" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 9pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>--</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 67.5pt; padding-top: 0in;" valign="bottom" width="90">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 9pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>297</font></p></td>
<td
style="border-right: medium none; padding-right: 0in; border-top: medium none; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: medium none;" width="6">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0pt 0in 0pt; line-height: 12pt; font-family: Courier;"> </p></td></tr>
<tr>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 292.5pt; padding-top: 0in;" valign="top" width="390">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0.5in; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>Liberty bank facility</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="bottom" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 4.5pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>750</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="bottom" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 9pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>750</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 67.5pt; padding-top: 0in;" valign="bottom" width="90">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 9pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>750</font></p></td>
<td
style="border-right: medium none; padding-right: 0in; border-top: medium none; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: medium none;" width="6">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0pt 0in 0pt; line-height: 12pt; font-family: Courier;"> </p></td></tr>
<tr>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 292.5pt; padding-top: 0in;" valign="top" width="390">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0.5in; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>Liberty derivative loan</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="bottom" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 4.5pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>379</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="bottom" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 9pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>379</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 67.5pt; padding-top: 0in;" valign="bottom" width="90">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 9pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>838</font></p></td>
<td
style="border-right: medium none; padding-right: 0in; border-top: medium none; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: medium none;" width="6">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0pt 0in 0pt; line-height: 12pt; font-family: Courier;"> </p></td></tr>
<tr>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 292.5pt; padding-top: 0in;" valign="top" width="390">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0.5in; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>Subsidiary debt</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="bottom" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 4.5pt; line-height: 10.8pt; border-bottom: black 1px solid; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>106</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="bottom" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 9pt; line-height: 10.8pt; border-bottom: black 1px solid; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>106</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 67.5pt; padding-top: 0in;" valign="bottom" width="90">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 9pt; line-height: 10.8pt; border-bottom: black 1px solid; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>131</font></p></td>
<td
style="border-right: medium none; padding-right: 0in; border-top: medium none; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: medium none;" width="6">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0pt 0in 0pt; line-height: 12pt; font-family: Courier;"> </p></td></tr>
<tr>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 292.5pt; padding-top: 0in;" valign="top" width="390">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0.5in; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>Total attributed Capital Group debt</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="bottom" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 4.5pt; line-height: 10.8pt; border-bottom: black 1px solid; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>2,373</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="bottom" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 9pt; line-height: 10.8pt; border-bottom: black 1px solid; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>2,446</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 67.5pt; padding-top: 0in;" valign="bottom" width="90">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 9pt; line-height: 10.8pt; border-bottom: black 1px solid; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>3,653</font></p></td>
<td
style="border-right: medium none; padding-right: 0in; border-top: medium none; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: medium none;" width="6">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0pt 0in 0pt; line-height: 12pt; font-family: Courier;"> </p></td></tr>
<tr>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 292.5pt; padding-top: 0in;" valign="top" width="390">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0.5in; line-height: 10.8pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="top" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 4.5pt; line-height: 10.8pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="top" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 9pt; line-height: 10.8pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 67.5pt; padding-top: 0in;" valign="top" width="90">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 9pt; line-height: 10.8pt; font-family: Courier;"> </p></td>
<td
style="border-right: medium none; padding-right: 0in; border-top: medium none; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: medium none;" width="6">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0pt 0in 0pt; line-height: 12pt; font-family: Courier;"> </p></td></tr>
<tr>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 292.5pt; padding-top: 0in;" valign="top" width="390">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0.5in; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Interactive Group</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="top" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 4.5pt; line-height: 10.8pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="top" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 9pt; line-height: 10.8pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 67.5pt; padding-top: 0in;" valign="top" width="90">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 9pt; line-height: 10.8pt; font-family: Courier;"> </p></td>
<td
style="border-right: medium none; padding-right: 0in; border-top: medium none; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: medium none;" width="6">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0pt 0in 0pt; line-height: 12pt; font-family: Courier;"> </p></td></tr>
<tr>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 292.5pt; padding-top: 0in;" valign="top" width="390">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0.5in; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>Senior notes and debentures</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="top" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 4.5pt; line-height: 10.8pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="top" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 9pt; line-height: 10.8pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 67.5pt; padding-top: 0in;" valign="top" width="90">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 9pt; line-height: 10.8pt; font-family: Courier;"> </p></td>
<td
style="border-right: medium none; padding-right: 0in; border-top: medium none; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: medium none;" width="6">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0pt 0in 0pt; line-height: 12pt; font-family: Courier;"> </p></td></tr>
<tr>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 292.5pt; padding-top: 0in;" valign="top" width="390">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0.5in; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>5.7% Senior Notes due 2013</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="bottom" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 4.5pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>803</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="bottom" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 9pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>801</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 67.5pt; padding-top: 0in;" valign="bottom" width="90">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 9pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>801</font></p></td>
<td
style="border-right: medium none; padding-right: 0in; border-top: medium none; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: medium none;" width="6">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0pt 0in 0pt; line-height: 12pt; font-family: Courier;"> </p></td></tr>
<tr>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 292.5pt; padding-top: 0in;" valign="top" width="390">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0.5in; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>8.5% Senior Debentures due 2029</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="bottom" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 4.5pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>287</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="bottom" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 9pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>284</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 67.5pt; padding-top: 0in;" valign="bottom" width="90">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 9pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>284</font></p></td>
<td
style="border-right: medium none; padding-right: 0in; border-top: medium none; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: medium none;" width="6">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0pt 0in 0pt; line-height: 12pt; font-family: Courier;"> </p></td></tr>
<tr>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 292.5pt; padding-top: 0in;" valign="top" width="390">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0.5in; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>8.25% Senior Debentures due 2030</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="bottom" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 4.5pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>504</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="bottom" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 9pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>501</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 67.5pt; padding-top: 0in;" valign="bottom" width="90">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 9pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>501</font></p></td>
<td
style="border-right: medium none; padding-right: 0in; border-top: medium none; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: medium none;" width="6">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0pt 0in 0pt; line-height: 12pt; font-family: Courier;"> </p></td></tr>
<tr>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 292.5pt; padding-top: 0in;" valign="top" width="390">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 76.5pt; text-indent: -40.5pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>4% Exchangeable Senior Debentures due 2029</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="bottom" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 4.5pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>469</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="bottom" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 9pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>248</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 67.5pt; padding-top: 0in;" valign="bottom" width="90">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 9pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>--</font></p></td>
<td
style="border-right: medium none; padding-right: 0in; border-top: medium none; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: medium none;" width="6">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0pt 0in 0pt; line-height: 12pt; font-family: Courier;"> </p></td></tr>
<tr>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 292.5pt; padding-top: 0in;" valign="top" width="390">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 76.5pt; text-indent: -40.5pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>3.75% Exchangeable Senior Debentures due 2030</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="bottom" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 4.5pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>460</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="bottom" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 9pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>230</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 67.5pt; padding-top: 0in;" valign="bottom" width="90">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 9pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>--</font></p></td>
<td
style="border-right: medium none; padding-right: 0in; border-top: medium none; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: medium none;" width="6">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0pt 0in 0pt; line-height: 12pt; font-family: Courier;"> </p></td></tr>
<tr>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 292.5pt; padding-top: 0in;" valign="top" width="390">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 76.5pt; text-indent: -40.5pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>3.5% Exchangeable Senior Debentures due 2031</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="bottom" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 4.5pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>492</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="bottom" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 9pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>295</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 67.5pt; padding-top: 0in;" valign="bottom" width="90">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 9pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>--</font></p></td>
<td
style="border-right: medium none; padding-right: 0in; border-top: medium none; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: medium none;" width="6">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0pt 0in 0pt; line-height: 12pt; font-family: Courier;"> </p></td></tr>
<tr>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 292.5pt; padding-top: 0in;" valign="top" width="390">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 76.5pt; text-indent: -40.5pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>3.25% Exchangeable Senior Debentures due 2031</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="bottom" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 4.5pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>541</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="bottom" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 9pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>338</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 67.5pt; padding-top: 0in;" valign="bottom" width="90">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 9pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>320</font></p></td>
<td
style="border-right: medium none; padding-right: 0in; border-top: medium none; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: medium none;" width="6">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0pt 0in 0pt; line-height: 12pt; font-family: Courier;"> </p></td></tr>
<tr>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 292.5pt; padding-top: 0in;" valign="top" width="390">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 76.5pt; text-indent: -40.5pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>QVC 7.125% Senior Secured Notes due 2017</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="bottom" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 4.5pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>500</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="bottom" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 9pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>500</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 67.5pt; padding-top: 0in;" valign="bottom" width="90">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 9pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>--</font></p></td>
<td
style="border-right: medium none; padding-right: 0in; border-top: medium none; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: medium none;" width="6">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0pt 0in 0pt; line-height: 12pt; font-family: Courier;"> </p></td></tr>
<tr>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 292.5pt; padding-top: 0in;" valign="top" width="390">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 76.5pt; text-indent: -40.5pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>QVC 7.5% Senior Secured Notes due 2019</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="bottom" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 4.5pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>1,000</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="bottom" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 9pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>984</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 67.5pt; padding-top: 0in;" valign="bottom" width="90">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 9pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>983</font></p></td>
<td
style="border-right: medium none; padding-right: 0in; border-top: medium none; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: medium none;" width="6">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0pt 0in 0pt; line-height: 12pt; font-family: Courier;"> </p></td></tr>
<tr>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 292.5pt; padding-top: 0in;" valign="top" width="390">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 76.5pt; text-indent: -40.5pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>QVC 7.375% Senior Secured Notes due 2020</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="bottom" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 4.5pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>500</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="bottom" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 9pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>500</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 67.5pt; padding-top: 0in;" valign="bottom" width="90">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 9pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>--</font></p></td>
<td
style="border-right: medium none; padding-right: 0in; border-top: medium none; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: medium none;" width="6">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0pt 0in 0pt; line-height: 12pt; font-family: Courier;"> </p></td></tr>
<tr>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 292.5pt; padding-top: 0in;" valign="top" width="390">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0.5in; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>QVC Bank Credit Facilities</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="bottom" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 4.5pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>1,996</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="bottom" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 9pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>1,996</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 67.5pt; padding-top: 0in;" valign="bottom" width="90">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 9pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>2,996</font></p></td>
<td
style="border-right: medium none; padding-right: 0in; border-top: medium none; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: medium none;" width="6">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0pt 0in 0pt; line-height: 12pt; font-family: Courier;"> </p></td></tr>
<tr>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 292.5pt; padding-top: 0in;" valign="top" width="390">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0.5in; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>Other subsidiary debt</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="bottom" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 4.5pt; line-height: 10.8pt; border-bottom: black 1px solid; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>64</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="bottom" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 9pt; line-height: 10.8pt; border-bottom: black 1px solid; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>64</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 67.5pt; padding-top: 0in;" valign="bottom" width="90">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 9pt; line-height: 10.8pt; border-bottom: black 1px solid; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>188</font></p></td>
<td
style="border-right: medium none; padding-right: 0in; border-top: medium none; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: medium none;" width="6">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0pt 0in 0pt; line-height: 12pt; font-family: Courier;"> </p></td></tr>
<tr>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 292.5pt; padding-top: 0in;" valign="top" width="390">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0.5in; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>Total attributed Interactive Group debt</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="bottom" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 4.5pt; line-height: 10.8pt; border-bottom: black 1px solid; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>7,616</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="bottom" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 9pt; line-height: 10.8pt; border-bottom: black 1px solid; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>6,741</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 67.5pt; padding-top: 0in;" valign="bottom" width="90">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 9pt; line-height: 10.8pt; border-bottom: black 1px solid; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>6,073</font></p></td>
<td
style="border-right: medium none; padding-right: 0in; border-top: medium none; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: medium none;" width="6">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0pt 0in 0pt; line-height: 12pt; font-family: Courier;"> </p></td></tr>
<tr>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 292.5pt; padding-top: 0in;" valign="top" width="390">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0.5in; line-height: 10.8pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="bottom" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 4.5pt; line-height: 10.8pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="bottom" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 9pt; line-height: 10.8pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 67.5pt; padding-top: 0in;" valign="bottom" width="90">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 9pt; line-height: 10.8pt; font-family: Courier;"> </p></td>
<td
style="border-right: medium none; padding-right: 0in; border-top: medium none; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: medium none;" width="6">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0pt 0in 0pt; line-height: 12pt; font-family: Courier;"> </p></td></tr>
<tr>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 292.5pt; padding-top: 0in;" valign="top" width="390">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0.5in; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Starz Group</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="bottom" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 4.5pt; line-height: 10.8pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="bottom" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 9pt; line-height: 10.8pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 67.5pt; padding-top: 0in;" valign="bottom" width="90">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 9pt; line-height: 10.8pt; font-family: Courier;"> </p></td>
<td
style="border-right: medium none; padding-right: 0in; border-top: medium none; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: medium none;" width="6">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0pt 0in 0pt; line-height: 12pt; font-family: Courier;"> </p></td></tr>
<tr>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 292.5pt; padding-top: 0in;" valign="top" width="390">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0.5in; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>Subsidiary debt</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="bottom" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 4.5pt; line-height: 10.8pt; border-bottom: black 1px solid; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>47</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="bottom" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 9pt; line-height: 10.8pt; border-bottom: black 1px solid; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>47</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 67.5pt; padding-top: 0in;" valign="bottom" width="90">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 9pt; line-height: 10.8pt; border-bottom: black 1px solid; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>48</font></p></td>
<td
style="border-right: medium none; padding-right: 0in; border-top: medium none; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: medium none;" width="6">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0pt 0in 0pt; line-height: 12pt; font-family: Courier;"> </p></td></tr>
<tr>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 292.5pt; padding-top: 0in;" valign="top" width="390">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0.5in; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>Total attributed Starz Group debt</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="bottom" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 4.5pt; line-height: 10.8pt; border-bottom: black 1px solid; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>47</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="bottom" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 9pt; line-height: 10.8pt; border-bottom: black 1px solid; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>47</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 67.5pt; padding-top: 0in;" valign="bottom" width="90">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 9pt; line-height: 10.8pt; border-bottom: black 1px solid; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>48</font></p></td>
<td
style="border-right: medium none; padding-right: 0in; border-top: medium none; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: medium none;" width="6">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0pt 0in 0pt; line-height: 12pt; font-family: Courier;"> </p></td></tr>
<tr>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 292.5pt; padding-top: 0in;" valign="top" width="390">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0.5in; line-height: 10.8pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="bottom" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 4.5pt; line-height: 10.8pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="bottom" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 9pt; line-height: 10.8pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 67.5pt; padding-top: 0in;" valign="bottom" width="90">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 9pt; line-height: 10.8pt; font-family: Courier;"> </p></td>
<td
style="border-right: medium none; padding-right: 0in; border-top: medium none; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: medium none;" width="6">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0pt 0in 0pt; line-height: 12pt; font-family: Courier;"> </p></td></tr>
<tr>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 292.5pt; padding-top: 0in;" valign="top" width="390">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0.5in; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>Total consolidated Liberty debt</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="bottom" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 4.5pt; line-height: 10.8pt; border-bottom: black 3px double; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">$<font
class="_mt"> </font>10,036</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="bottom" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 9pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>9,234</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 67.5pt; padding-top: 0in;" valign="bottom" width="90">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 9pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>9,774</font></p></td>
<td
style="border-right: medium none; padding-right: 0in; border-top: medium none; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: medium none;" width="6">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0pt 0in 0pt; line-height: 12pt; font-family: Courier;"> </p></td></tr>
<tr>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 292.5pt; padding-top: 0in;" valign="top" width="390">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0.5in; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>Less current maturities</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="bottom" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 4.5pt; line-height: 10.8pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="bottom" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 9pt; line-height: 10.8pt; border-bottom: black 1px solid; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>(1,203</font><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">)</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 67.5pt; padding-top: 0in;" valign="bottom" width="90">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 9pt; line-height: 10.8pt; border-bottom: black 1px solid; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>(1,932</font><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">)</font></p></td>
<td
style="border-right: medium none; padding-right: 0in; border-top: medium none; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: medium none;" width="6">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0pt 0in 0pt; line-height: 12pt; font-family: Courier;"> </p></td></tr>
<tr>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 292.5pt; padding-top: 0in;" valign="top" width="390">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0.5in; line-height: 10.8pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="bottom" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 4.5pt; line-height: 10.8pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="bottom" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 9pt; line-height: 10.8pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 67.5pt; padding-top: 0in;" valign="bottom" width="90">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 9pt; line-height: 10.8pt; font-family: Courier;"> </p></td>
<td
style="border-right: medium none; padding-right: 0in; border-top: medium none; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: medium none;" width="6">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0pt 0in 0pt; line-height: 12pt; font-family: Courier;"> </p></td></tr>
<tr>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 292.5pt; padding-top: 0in;" valign="top" width="390">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0.5in; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>Total long-term debt</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="bottom" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 4.5pt; line-height: 10.8pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="bottom" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 9pt; line-height: 10.8pt; border-bottom: black 3px double; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">$<font
class="_mt"> </font>8,031</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 67.5pt; padding-top: 0in;" valign="bottom" width="90">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 9pt; line-height: 10.8pt; border-bottom: black 3px double; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>7,842</font></p></td>
<td
style="border-right: medium none; padding-right: 0in; border-top: medium none; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: medium none;" width="6">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0pt 0in 0pt; line-height: 12pt; font-family: Courier;"> </p></td></tr></table>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font> </p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><b><i><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Senior Notes and Debentures</font></i></b></p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">In May of 2010, Liberty commenced a cash tender offer for up to $400 million aggregate principal amount of the outstanding 5.7% senior notes due 2013.<font
class="_mt"> </font>The total consideration payable under the tender offer will be determined based on a modified "Dutch Auction" procedure.<font
class="_mt"> </font>The settlement of the tender offer is expected to occur in the second quarter of 2010.</font></p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font> </p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><b><i><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Exchangeable Senior Debentures</font></i></b><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font></p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">As discussed in Note 2, effective February 25, 2010 the Board of Directors of Liberty reattributed the 4%, 3.75% and 3.5% Exchangeable Senior Debentures from the Liberty Capital Group to the Liberty Interactive group which was accounted for on a prospective basis.</font></p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: normal; font-family: Courier; text-align: justify;"><b><i><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font></i></b> </p><b><i><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><br /></font></i></b>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: normal; font-family: Courier;"><b><i><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font></i></b> </p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><b><i><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">QVC 7.125% Senior Secured Notes due 2017</font></i></b><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font></p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">During the first quarter of 2010, QVC issued $500 million principal amount of 7.125% Senior Secured Notes due 2017 at par.<font
class="_mt"> </font>QVC used the proceeds from such offering to retire certain outstanding term loans under QVC's Bank Credit Facilities that were to mature on various dates between 2010 and 2014.</font></p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font> </p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><b><i><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">QVC 7.375% Senior Secured Notes due 2020</font></i></b><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font></p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">During the first quarter of 2010, QVC issued $500 million principal amount of 7.375% Senior Secured Notes due 2020 at par.<font
class="_mt"> </font>QVC used the proceeds from such offering to retire certain outstanding term loans under QVC's Bank Credit Facilities that were to mature on various dates between 2010 and 2014.</font></p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font> </p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><b><i><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">QVC Bank Credit Facilities</font></i></b></p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">As noted above, QVC retired outstanding term loans under its Amended Credit Agreements with proceeds from the issuance of the QVC Senior Secured Notes due 2017 and 2020, respectively. <font
class="_mt"> </font>The remaining $1,996 million outstanding principal matures between June 2010 and March 2014 as follows: $175 million due in 2010; $452 million due in 2011; $400 million due in 2012; $400 million due in 2013; and $569 million due in 2014.<font
class="_mt"> </font></font></p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font> </p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">QVC was in compliance with all of its debt covenants at March 31, 2010.</font></p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font> </p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><b><i><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">QVC Interest Rate Swap Arrangements</font></i></b></p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">QVC is party to ten separate interest rate swap arrangements with an aggregate notional amount of $2,200 million to manage the cash flow risk associated with interest payments on its variable rate debt.<font
class="_mt"> </font>These swap arrangements provide for QVC to make fixed payments at rates ranging from 4.96% to 5.29% and to receive variable payments at 3 month LIBOR.<font
class="_mt"> </font>All of the swap arrangements expire in March 2011.<font
class="_mt"> </font>Until December 2008, Liberty accounted for these swap arrangements as cash flow hedges with the effective portions of changes in the fair value reflected in other comprehensive earnings in the accompanying condensed consolidated balance sheet.<font
class="_mt"> </font>In December 2008, QVC elected interest terms under its credit facilities that do not effectively match the terms of the swap arrangements.<font
class="_mt"> </font>As a result, these swaps no longer qualify as cash flow hedges under GAAP.<font
class="_mt"> </font>Accordingly, changes in the fair value of the swaps are now reflected in realized and unrealized gains or losses on financial instruments in the accompanying condensed consolidated statements of operations.</font></p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font> </p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">QVC is also party to two interest rate swap arrangements with an aggregate notional amount of $600 million.<font
class="_mt"> </font>These swap arrangements, which expire in October 2010, provide for QVC to make fixed payments at 3.07% and to receive variable payments at 3 month LIBOR.<font
class="_mt"> </font>These swap arrangements do not qualify as cash flow hedges under GAAP.</font></p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font> </p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">During the third quarter of 2009, QVC entered into seven new forward interest rate swap arrangements with an aggregate notional amount of $1.75 billion.<font
class="_mt"> </font>Such arrangements provide for payments beginning in March 2011 and extending to March 2013.<font
class="_mt"> </font>QVC will make fixed payments at rates ranging from 2.98% to 3.67% and receive variable payments at 3 month LIBOR.<font
class="_mt"> </font>These swap arrangements do not qualify as cash flow hedges under GAAP.</font></p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font> </p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: normal; font-family: Courier;"><b><i><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Other Subsidiary Debt</font></i></b></p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Other subsidiary debt at March 31, 2010 is comprised of capitalized satellite transponder lease obligations and bank debt of certain subsidiaries.</font></p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font> </p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><b><i><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Fair Value of Debt</font></i></b><b><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font></b></p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Liberty</font><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> estimates the fair value of its debt based on the quoted market prices for the same or similar issues or on the current rate offered to Liberty for debt of the same remaining maturities.<font
class="_mt"> </font>The fair value <br /><br /></font></p><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><br /></font>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: normal; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font> </p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">of Liberty's publicly traded debt securities that are not reported at fair value in the accompanying condensed consolidated balance sheet at March 31, 2010 is as follows (amounts in millions):</font></p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font> </p>
<table
class="MsoNormalTable"
style="font-size: 10pt; margin-left: 0px! important; font-family: 'Times New Roman','serif'; border-collapse: collapse;" cellspacing="0" cellpadding="0" width="499" border="0">
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 315.9pt; padding-top: 0in;" valign="top" width="421">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 67.5pt; line-height: 10pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Senior notes </font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 58.5pt; padding-top: 0in;" valign="bottom" width="78">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">$<font
class="_mt"> </font>811</font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 315.9pt; padding-top: 0in;" valign="top" width="421">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 67.5pt; line-height: 10pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Senior debentures </font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 58.5pt; padding-top: 0in;" valign="bottom" width="78">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">$<font
class="_mt"> </font>738</font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 315.9pt; padding-top: 0in;" valign="top" width="421">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 67.5pt; line-height: 10pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">QVC senior secured notes</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 58.5pt; padding-top: 0in;" valign="bottom" width="78">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">$<font
class="_mt"> </font>2,024</font></p></td></tr></table>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0.5in; text-indent: -0.5in; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font> </p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Due to its variable rate nature, Liberty believes that the carrying amount of its subsidiary debt and other parent debt approximated fair value at March 31, 2010.</font></p></div> </div>
-201000000
-82000000
-17000000
-102000000
91000000
38000000
11000000
42000000
-60000000
60000000
-11000000
11000000
1247000000
1248000000
-60000000
1254000000
54000000
2675000000
2715000000
-11000000
12000000
2714000000
173000000
20000000
6000000
147000000
162000000
16000000
5000000
141000000
752000000
340000000
340000000
1002000000
1068000000
919000000
1000000
148000000
<div> <div>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><b><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">(3)<font
class="_mt"> </font><u>Stock-Based Compensation</u> </font></b></p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">The Company has granted to certain of its directors, employees and employees of its subsidiaries options and stock appreciation rights ("SARs") to purchase shares of Liberty common stock (collectively, "Awards").<font
class="_mt"> </font>The Company measures the cost of employee services received in exchange for an Award of equity instruments (such as stock options and restricted stock) based on the grant-date fair value of the Award, and recognizes that cost over the period during which the employee is required to provide service (usually the vesting period of the Award).<font
class="_mt"> </font>The company measures the cost of employee services received in exchange for an Award of liability instruments (such as stock appreciation rights that will be settled in cash) based on the current fair value of the Award, and remeasures the fair value of the Award at each reporting date.<font
class="_mt"> </font></font></p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font> </p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Included in selling, general and administrative expenses in the accompanying condensed consolidated statements of operations are the following amounts of stock-based compensation (amounts in millions): </font></p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font> </p>
<table
class="MsoNormalTable"
style="font-size: 10pt; margin-left: 41.4pt; width: 364.5pt; font-family: 'Times New Roman','serif'; border-collapse: collapse;" cellspacing="0" cellpadding="0" width="486" border="0">
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 216.9pt; padding-top: 0in;" valign="top" width="289">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Three months ended:</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 2.05in; padding-top: 0in;" valign="top" width="197">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"> </p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 216.9pt; padding-top: 0in;" valign="top" width="289">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>March 31, 2010</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 2.05in; padding-top: 0in;" valign="top" width="197">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">$<font
class="_mt"> </font>39</font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 216.9pt; padding-top: 0in;" valign="top" width="289">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>March 31, 2009</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 2.05in; padding-top: 0in;" valign="top" width="197">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">$<font
class="_mt"> </font>28</font></p></td></tr></table>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font> </p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">In March of 2010, Liberty granted, primarily to QVC employees, 3.5 million options to purchase shares of Series A Liberty Interactive common stock.<font
class="_mt"> </font>Such options had a weighted average grant-date fair value of $5.38 per share. <font
class="_mt"> </font>These options vest semi-annually over the 4 year vesting period.</font></p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font> </p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">During the three months ended March 31, 2010, Liberty granted, primarily to Starz Entertainment employees, 209,000 options to purchase shares of Series A Liberty Starz common stock.<font
class="_mt"> </font>Such options had a weighted average grant-date fair value of $16.16 per share.<font
class="_mt"> </font>These options vest quarterly over the 4 year vesting period.</font></p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font> </p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">In addition, during the three months ended March 31, 2010 Liberty granted 6.2 million options to purchase shares of Series A Liberty Interactive common stock, 1.1 million options to purchase shares of Series A Liberty Capital common stock and 651,000 options to purchase shares of Series A Liberty Starz common stock, as a long-term incentive grant to Liberty officers.<font
class="_mt"> </font>Such options had a weighted average grant-date fair value of $8.07, $19.38 and $22.94 per share, respectively.<font
class="_mt"> </font>These options vest one third each on June 30, 2013, June 30, 2014 and December 31, 2015.</font></p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font> </p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">The Company has calculated the grant-date fair value for all of its equity classified awards and any subsequent remeasurement of its liability classified awards using the Black-Scholes Model.<font
class="_mt"> </font>The Company estimates the expected term of the Awards based on historical exercise and forfeiture data.<font
class="_mt"> </font>The volatility used in the calculation for Awards is based on the historical volatility of Liberty's stocks and the implied volatility of publicly traded Liberty options.<font
class="_mt"> </font>The Company uses a zero dividend rate and the risk-free rate for Treasury Bonds with a term similar to that of the subject options.</font></p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font> </p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><b><i><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Liberty––Outstanding Awards</font></i></b></p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">The following table presents the number and weighted average exercise price (''WAEP'') of options and SARs to purchase Liberty common stock granted to certain officers, employees and directors of the Company.<font
class="_mt"> </font></font></p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0.5in; text-indent: -0.5in; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font> </p>
<table
class="MsoNormalTable"
style="font-size: 10pt; margin-left: 0px! important; font-family: 'Times New Roman','serif'; border-collapse: collapse;" cellspacing="0" cellpadding="0" width="690" border="0">
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 171.1pt; padding-top: 0in;" valign="top" width="228">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 346.4pt; padding-top: 0in;" valign="top" width="462" colspan="6">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; border-bottom: black 1px solid; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>Series A<font
class="_mt"> </font></font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 171.1pt; padding-top: 0in;" valign="top" width="228">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 68.3pt; padding-top: 0in;" valign="top" width="91">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>Liberty<font
class="_mt"> </font></font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 48.3pt; padding-top: 0in;" valign="top" width="64">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 67.5pt; padding-top: 0in;" valign="top" width="90">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>Liberty<font
class="_mt"> </font></font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 49.5pt; padding-top: 0in;" valign="top" width="66">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 63.3pt; padding-top: 0in;" valign="top" width="84">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>Liberty<font
class="_mt"> </font></font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 49.5pt; padding-top: 0in;" valign="top" width="66">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"> </p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 171.1pt; padding-top: 0in;" valign="top" width="228">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 68.3pt; padding-top: 0in;" valign="top" width="91">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; border-bottom: black 1px solid; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>Capital<font
class="_mt"> </font></font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 48.3pt; padding-top: 0in;" valign="top" width="64">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; border-bottom: black 1px solid; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>WAEP<font
class="_mt"> </font></font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 67.5pt; padding-top: 0in;" valign="top" width="90">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; border-bottom: black 1px solid; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>Interactive<font
class="_mt"> </font></font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 49.5pt; padding-top: 0in;" valign="top" width="66">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; border-bottom: black 1px solid; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>WAEP<font
class="_mt"> </font></font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 63.3pt; padding-top: 0in;" valign="top" width="84">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; border-bottom: black 1px solid; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>Starz<font
class="_mt"> </font></font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 49.5pt; padding-top: 0in;" valign="top" width="66">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; border-bottom: black 1px solid; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>WAEP<font
class="_mt"> </font></font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 171.1pt; padding-top: 0in;" valign="top" width="228">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 346.4pt; padding-top: 0in;" valign="top" width="462" colspan="6">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: center;" align="center"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">numbers of options in thousands</font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 171.1pt; padding-top: 0in;" valign="top" width="228">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 68.3pt; padding-top: 0in;" valign="top" width="91">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 48.3pt; padding-top: 0in;" valign="top" width="64">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 67.5pt; padding-top: 0in;" valign="top" width="90">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 49.5pt; padding-top: 0in;" valign="top" width="66">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 63.3pt; padding-top: 0in;" valign="top" width="84">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 49.5pt; padding-top: 0in;" valign="top" width="66">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"> </p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 171.1pt; padding-top: 0in;" valign="top" width="228">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Outstanding at January 1, 2010</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 68.3pt; padding-top: 0in;" valign="top" width="91">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">5,069</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 48.3pt; padding-top: 0in;" valign="top" width="64">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">$<font
class="_mt"> </font>14.45</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 67.5pt; padding-top: 0in;" valign="top" width="90">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">40,832</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 49.5pt; padding-top: 0in;" valign="top" width="66">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">$<font
class="_mt"> </font>11.30</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 63.3pt; padding-top: 0in;" valign="top" width="84">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 8.4pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">2,595</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 49.5pt; padding-top: 0in;" valign="top" width="66">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">$<font
class="_mt"> </font>43.13</font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 171.1pt; padding-top: 0in;" valign="top" width="228">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Granted</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 68.3pt; padding-top: 0in;" valign="top" width="91">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">1,087</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 48.3pt; padding-top: 0in;" valign="top" width="64">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">$<font
class="_mt"> </font>34.39</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 67.5pt; padding-top: 0in;" valign="top" width="90">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">9,702</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 49.5pt; padding-top: 0in;" valign="top" width="66">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">$<font
class="_mt"> </font>14.03</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 63.3pt; padding-top: 0in;" valign="top" width="84">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 8.4pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">860</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 49.5pt; padding-top: 0in;" valign="top" width="66">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">$<font
class="_mt"> </font>51.17</font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 171.1pt; padding-top: 0in;" valign="top" width="228">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Exercised</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 68.3pt; padding-top: 0in;" valign="top" width="91">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">(182)</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 48.3pt; padding-top: 0in;" valign="top" width="64">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">$<font
class="_mt"> </font>13.74</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 67.5pt; padding-top: 0in;" valign="top" width="90">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">(636)</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 49.5pt; padding-top: 0in;" valign="top" width="66">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">$<font
class="_mt"> </font><font
class="_mt"> </font>4.06</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 63.3pt; padding-top: 0in;" valign="top" width="84">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 8.4pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">(36)</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 49.5pt; padding-top: 0in;" valign="top" width="66">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">$<font
class="_mt"> </font>30.75</font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 171.1pt; padding-top: 0in;" valign="top" width="228">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Forfeited/Cancelled/Exchanged</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 68.3pt; padding-top: 0in;" valign="top" width="91">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; border-bottom: black 1px solid; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">(23</font><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">)</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 48.3pt; padding-top: 0in;" valign="top" width="64">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">$<font
class="_mt"> </font>11.13</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 67.5pt; padding-top: 0in;" valign="top" width="90">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; border-bottom: black 1px solid; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">(293</font><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">)</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 49.5pt; padding-top: 0in;" valign="top" width="66">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">$ <font
class="_mt"> </font><font
class="_mt"> </font>6.43</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 63.3pt; padding-top: 0in;" valign="top" width="84">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 8.4pt; line-height: 10.8pt; border-bottom: black 1px solid; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">(11</font><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">)</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 49.5pt; padding-top: 0in;" valign="top" width="66">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">$<font
class="_mt"> </font>35.06</font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 171.1pt; padding-top: 0in;" valign="top" width="228">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Outstanding at March 31, 2010</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 68.3pt; padding-top: 0in;" valign="top" width="91">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; border-bottom: black 3px double; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">5,951</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 48.3pt; padding-top: 0in;" valign="top" width="64">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">$<font
class="_mt"> </font>18.13</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 67.5pt; padding-top: 0in;" valign="top" width="90">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; border-bottom: black 3px double; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">49,605</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 49.5pt; padding-top: 0in;" valign="top" width="66">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">$<font
class="_mt"> </font>11.96</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 63.3pt; padding-top: 0in;" valign="top" width="84">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 8.4pt; line-height: 10.8pt; border-bottom: black 3px double; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">3,408</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 49.5pt; padding-top: 0in;" valign="top" width="66">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">$<font
class="_mt"> </font>45.32</font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 171.1pt; padding-top: 0in;" valign="top" width="228">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 68.3pt; padding-top: 0in;" valign="top" width="91">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 48.3pt; padding-top: 0in;" valign="top" width="64">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 67.5pt; padding-top: 0in;" valign="top" width="90">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 49.5pt; padding-top: 0in;" valign="top" width="66">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 63.3pt; padding-top: 0in;" valign="top" width="84">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 8.4pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 49.5pt; padding-top: 0in;" valign="top" width="66">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"> </p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 171.1pt; padding-top: 0in;" valign="top" width="228">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Exercisable at March 31, 2010</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 68.3pt; padding-top: 0in;" valign="top" width="91">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; border-bottom: black 3px double; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">2,164</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 48.3pt; padding-top: 0in;" valign="top" width="64">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">$<font
class="_mt"> </font>11.94</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 67.5pt; padding-top: 0in;" valign="top" width="90">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; border-bottom: black 3px double; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">15,806</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 49.5pt; padding-top: 0in;" valign="top" width="66">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">$<font
class="_mt"> </font>17.48</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 63.3pt; padding-top: 0in;" valign="top" width="84">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 8.4pt; line-height: 10.8pt; border-bottom: black 3px double; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">597</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 49.5pt; padding-top: 0in;" valign="top" width="66">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">$<font
class="_mt"> </font>29.77</font></p></td></tr></table>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font> </p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">The following table provides additional information about outstanding options to purchase Liberty common stock at March 31, 2010.</font></p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0.5in; text-indent: -0.5in; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font> </p>
<table
class="MsoNormalTable"
style="font-size: 10pt; margin-left: 0px! important; font-family: 'Times New Roman','serif'; border-collapse: collapse;" cellspacing="0" cellpadding="0" width="756" border="0">
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 121.5pt; padding-top: 0in;" valign="top" width="162">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="top" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">No.of</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 67.5pt; padding-top: 0in;" valign="top" width="90">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 63pt; padding-top: 0in;" valign="top" width="84">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Weighted</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 58.5pt; padding-top: 0in;" valign="top" width="78">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Aggregate</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 63pt; padding-top: 0in;" valign="top" width="84">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">No. of</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 63pt; padding-top: 0in;" valign="top" width="84">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 58.5pt; padding-top: 0in;" valign="top" width="78">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Aggregate</font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 121.5pt; padding-top: 0in;" valign="top" width="162">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="top" width="96">
<p
class="MsoFootnoteText"
style="font-size: 10pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">outstanding</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 67.5pt; padding-top: 0in;" valign="top" width="90">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">WAEP of</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 63pt; padding-top: 0in;" valign="top" width="84">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">average</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 58.5pt; padding-top: 0in;" valign="top" width="78">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">intrinsic</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 63pt; padding-top: 0in;" valign="top" width="84">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">exercisable</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 63pt; padding-top: 0in;" valign="top" width="84">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">WAEP of</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 58.5pt; padding-top: 0in;" valign="top" width="78">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">intrinsic</font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 121.5pt; padding-top: 0in;" valign="top" width="162">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="top" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">options</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 67.5pt; padding-top: 0in;" valign="top" width="90">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">outstanding</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 63pt; padding-top: 0in;" valign="top" width="84">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">remaining</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 58.5pt; padding-top: 0in;" valign="top" width="78">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">value</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 63pt; padding-top: 0in;" valign="top" width="84">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">options</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 63pt; padding-top: 0in;" valign="top" width="84">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">exercisable</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 58.5pt; padding-top: 0in;" valign="top" width="78">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">value</font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 121.5pt; padding-top: 0in;" valign="top" width="162">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="top" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; border-bottom: black 1px solid; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">(000's)</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 67.5pt; padding-top: 0in;" valign="top" width="90">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; border-bottom: black 1px solid; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">options</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 63pt; padding-top: 0in;" valign="top" width="84">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; border-bottom: black 1px solid; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">life</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 58.5pt; padding-top: 0in;" valign="top" width="78">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; border-bottom: black 1px solid; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">(000's)</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 63pt; padding-top: 0in;" valign="top" width="84">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; border-bottom: black 1px solid; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">(000's)</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 63pt; padding-top: 0in;" valign="top" width="84">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; border-bottom: black 1px solid; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">options</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 58.5pt; padding-top: 0in;" valign="top" width="78">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; border-bottom: black 1px solid; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">(000's)</font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 121.5pt; padding-top: 0in;" valign="top" width="162">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="top" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 67.5pt; padding-top: 0in;" valign="top" width="90">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 63pt; padding-top: 0in;" valign="top" width="84">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 58.5pt; padding-top: 0in;" valign="top" width="78">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 63pt; padding-top: 0in;" valign="top" width="84">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 63pt; padding-top: 0in;" valign="top" width="84">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 58.5pt; padding-top: 0in;" valign="top" width="78">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"> </p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 121.5pt; padding-top: 0in;" valign="top" width="162">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0.05in; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Series A Capital </font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="top" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">5,951</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 67.5pt; padding-top: 0in;" valign="top" width="90">
<p
class="MsoFootnoteText"
style="font-size: 10pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">$<font
class="_mt"> </font>18.13</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 63pt; padding-top: 0in;" valign="top" width="84">
<p
class="MsoFootnoteText"
style="font-size: 10pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">5.9 years</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 58.5pt; padding-top: 0in;" valign="top" width="78">
<p
class="MsoFootnoteText"
style="font-size: 10pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">$ 108,625</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 63pt; padding-top: 0in;" valign="top" width="84">
<p
class="MsoFootnoteText"
style="font-size: 10pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">2,164</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 63pt; padding-top: 0in;" valign="top" width="84">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0px; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">$<font
class="_mt"> </font>11.94</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 58.5pt; padding-top: 0in;" valign="top" width="78">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0px; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">$<font
class="_mt"> </font>52,961</font></p></td></tr>
<tr
style="height: 4pt;">
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 121.5pt; padding-top: 0in; height: 4pt;" valign="top" width="162">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0.05in; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Series A Interactive </font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 1in; padding-top: 0in; height: 4pt;" valign="top" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">49,605</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 67.5pt; padding-top: 0in; height: 4pt;" valign="top" width="90">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">$<font
class="_mt"> </font>11.96</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 63pt; padding-top: 0in; height: 4pt;" valign="top" width="84">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">5.7 years</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 58.5pt; padding-top: 0in; height: 4pt;" valign="top" width="78">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">$ 241,380</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 63pt; padding-top: 0in; height: 4pt;" valign="top" width="84">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">15,806</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 63pt; padding-top: 0in; height: 4pt;" valign="top" width="84">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0px; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">$<font
class="_mt"> </font>17.48</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 58.5pt; padding-top: 0in; height: 4pt;" valign="top" width="78">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0px; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">$<font
class="_mt"> </font>34,917</font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 121.5pt; padding-top: 0in;" valign="top" width="162">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0.05in; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Series B Interactive </font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="top" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">7,491</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 67.5pt; padding-top: 0in;" valign="top" width="90">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">$<font
class="_mt"> </font>23.41</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 63pt; padding-top: 0in;" valign="top" width="84">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">1.2 years</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 58.5pt; padding-top: 0in;" valign="top" width="78">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">$<font
class="_mt"> </font><font
class="_mt"> </font>--</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 63pt; padding-top: 0in;" valign="top" width="84">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">7,491</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 63pt; padding-top: 0in;" valign="top" width="84">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0px; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">$<font
class="_mt"> </font>23.41</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 58.5pt; padding-top: 0in;" valign="top" width="78">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0px; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">$<font
class="_mt"> </font><font
class="_mt"> </font>--</font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 121.5pt; padding-top: 0in;" valign="top" width="162">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0.05in; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Series A Starz</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="top" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">3,408</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 67.5pt; padding-top: 0in;" valign="top" width="90">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">$<font
class="_mt"> </font>45.32</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 63pt; padding-top: 0in;" valign="top" width="84">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">6.7 years</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 58.5pt; padding-top: 0in;" valign="top" width="78">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">$<font
class="_mt"> </font>39,026</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 63pt; padding-top: 0in;" valign="top" width="84">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">597</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 63pt; padding-top: 0in;" valign="top" width="84">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0px; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">$<font
class="_mt"> </font>29.77</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 58.5pt; padding-top: 0in;" valign="top" width="78">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0px; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">$<font
class="_mt"> </font>14,948</font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 121.5pt; padding-top: 0in;" valign="top" width="162">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0.05in; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Series B Starz</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="top" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">599</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 67.5pt; padding-top: 0in;" valign="top" width="90">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">$<font
class="_mt"> </font>31.33</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 63pt; padding-top: 0in;" valign="top" width="84">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">1.2 years</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 58.5pt; padding-top: 0in;" valign="top" width="78">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">$<font
class="_mt"> </font>13,386</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 63pt; padding-top: 0in;" valign="top" width="84">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">599</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 63pt; padding-top: 0in;" valign="top" width="84">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0px; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">$<font
class="_mt"> </font>31.33</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 58.5pt; padding-top: 0in;" valign="top" width="78">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0px; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">$<font
class="_mt"> </font>13,386</font></p></td></tr></table>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0.5in; text-indent: -0.5in; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font> </p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">As of March 31, 2010, the total unrecognized compensation cost related to unvested Liberty equity Awards was approximately $236 million.<font
class="_mt"> </font>Such amount will be recognized in the Company's consolidated statements of operations over a weighted average period of approximately 3 years.</font></p></div> </div>
-1.67
0.16
-0.1
0.23
1.14
0.52
-1.67
0.16
-0.1
0.22
1.1
0.51
<div> <div>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><b><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">(4)<font
class="_mt"> </font><u>Earnings (Loss) Per Common Share</u><i> </i></font></b></p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Basic earnings (loss) per common share ("EPS") is computed by dividing net earnings (loss) by the weighted average number of common shares outstanding for the period.<font
class="_mt"> </font>Diluted EPS presents the dilutive effect on a per share basis of potential common shares as if they had been converted at the beginning of the periods presented.</font></p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font> </p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><u><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Series A and Series B Liberty Capital Common Stock</font></u></p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Liberty Capital basic EPS for the three months ended March 31, 2010 and 2009 was computed by dividing the net earnings attributable to the Capital Group by the weighted average outstanding shares of Liberty Capital common stock for the period (97 million and 96 million, respectively).<font
class="_mt"> </font>Fully diluted EPS for the three months ended March 31, 2010 and 2009 includes 2 million and less than 1 million common stock equivalents, respectively.<font
class="_mt"> </font></font><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Excluded from diluted EPS for the three months ended March 31, 2010 are approximately 1 million potential common shares because their inclusion would be anti-dilutive.</font><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font></p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font> </p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><u><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Series A and Series B Liberty Starz Common Stock</font></u></p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Liberty Starz basic EPS for the three months ended March 31, 2010 and 2009 was computed by dividing the net earnings attributable to the Starz Group by the weighted average outstanding shares of Liberty Starz common stock for the period (50 million and 517 million, respectively).<font
class="_mt"> </font>Fully diluted EPS for the three months ended March 31, 2010 and 2009 includes 2 million and 1 million common stock equivalents, respectively.<font
class="_mt"> </font></font><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Excluded from diluted EPS for the three months ended March 31, 2010 are approximately 1 million potential common shares because their inclusion would be anti-dilutive.</font><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font></p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font></font></p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><u><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Series A and Series B Liberty Interactive Common Stock</font></u></p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Liberty Interactive basic EPS for the three months ended March 31, 2010 and 2009 was computed by dividing the net earnings attributable to the Interactive Group by the weighted average outstanding shares of Liberty Interactive common stock for the period (595 million and 594 million, respectively).<font
class="_mt"> </font>Fully diluted EPS for the three months ended March 31, 2010 and 2009 includes 7 million and 2 million common stock equivalents, respectively.<font
class="_mt"> </font></font><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Excluded from diluted EPS for the three months ended March 31, 2010 are approximately 31 million potential common shares because their inclusion would be anti-dilutive.</font><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font></p></div> </div>
-37000000
-8000000
-29000000
-11000000
-11000000
1030000000
959000000
118000000
841000000
<div> <div>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: normal; font-family: Courier; text-align: justify;"><b><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">(7)<font
class="_mt"> </font><u>Investments in Affiliates Accounted for Using the Equity Method</u></font></b><font
class="_mt"
style="font-size: 9pt;"> </font></p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Liberty</font><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> has various investments accounted for using the equity method.<font
class="_mt"> </font>The following table includes Liberty's carrying amount and percentage ownership of the more significant investments in affiliates at March 31, 2010 and the carrying amount at December 31, 2009:</font></p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0.5in; text-indent: -0.5in; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font> </p>
<table
class="MsoNormalTable"
style="font-size: 10pt; margin-left: 36.9pt; width: 400.5pt; font-family: 'Times New Roman','serif'; border-collapse: collapse;" cellspacing="0" cellpadding="0" width="534" border="0">
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 175.5pt; padding-top: 0in;" valign="top" width="234">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0.3in; line-height: 10pt; font-family: Courier; text-align: justify;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 1.95in; padding-top: 0in;" valign="top" width="187" colspan="2">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 84.6pt; padding-top: 0in;" valign="top" width="113">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>December 31,<font
class="_mt"> </font></font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 175.5pt; padding-top: 0in;" valign="top" width="234">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0.3in; line-height: 10pt; font-family: Courier; text-align: justify;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 1.95in; padding-top: 0in;" valign="top" width="187" colspan="2">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10pt; border-bottom: black 1px solid; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>March 31, 2010<font
class="_mt"> </font></font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 84.6pt; padding-top: 0in;" valign="top" width="113">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10pt; border-bottom: black 1px solid; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>2009<font
class="_mt"> </font></font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 175.5pt; padding-top: 0in;" valign="top" width="234">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0.3in; line-height: 10pt; font-family: Courier; text-align: justify;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 71.95pt; padding-top: 0in;" valign="top" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>Percentage<font
class="_mt"> </font></font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 68.45pt; padding-top: 0in;" valign="top" width="91">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>Carrying<font
class="_mt"> </font></font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 84.6pt; padding-top: 0in;" valign="top" width="113">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>Carrying<font
class="_mt"> </font></font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 175.5pt; padding-top: 0in;" valign="top" width="234">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0.3in; line-height: 10pt; font-family: Courier; text-align: justify;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 71.95pt; padding-top: 0in;" valign="top" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10pt; border-bottom: black 1px solid; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>ownership<font
class="_mt"> </font></font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 68.45pt; padding-top: 0in;" valign="top" width="91">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10pt; border-bottom: black 1px solid; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>amount<font
class="_mt"> </font></font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 84.6pt; padding-top: 0in;" valign="top" width="113">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10pt; border-bottom: black 1px solid; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>amount<font
class="_mt"> </font></font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 175.5pt; padding-top: 0in;" valign="top" width="234">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0.3in; line-height: 10pt; font-family: Courier; text-align: justify;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 71.95pt; padding-top: 0in;" valign="top" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 153.05pt; padding-top: 0in;" valign="top" width="204" colspan="2">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>dollar amounts in millions<font
class="_mt"> </font></font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 175.5pt; padding-top: 0in;" valign="top" width="234">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Interactive Group</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 71.95pt; padding-top: 0in;" valign="top" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10pt; font-family: Courier; text-align: center;" align="center"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 68.45pt; padding-top: 0in;" valign="top" width="91">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 84.6pt; padding-top: 0in;" valign="top" width="113">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10pt; font-family: Courier;"> </p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 175.5pt; padding-top: 0in;" valign="top" width="234">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 12.6pt; line-height: 10pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Expedia </font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 71.95pt; padding-top: 0in;" valign="top" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10pt; font-family: Courier; text-align: center;" align="center"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">24%</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 68.45pt; padding-top: 0in;" valign="top" width="91">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>634</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 84.6pt; padding-top: 0in;" valign="top" width="113">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>631</font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 175.5pt; padding-top: 0in;" valign="top" width="234">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 12.6pt; line-height: 10pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Other</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 71.95pt; padding-top: 0in;" valign="top" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10pt; font-family: Courier; text-align: center;" align="center"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">various</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 68.45pt; padding-top: 0in;" valign="top" width="91">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>207</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 84.6pt; padding-top: 0in;" valign="top" width="113">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>264</font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 175.5pt; padding-top: 0in;" valign="top" width="234">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Capital Group</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 71.95pt; padding-top: 0in;" valign="top" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 68.45pt; padding-top: 0in;" valign="top" width="91">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 84.6pt; padding-top: 0in;" valign="top" width="113">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10pt; font-family: Courier;"> </p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 175.5pt; padding-top: 0in;" valign="top" width="234">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 12.6pt; line-height: 10pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Sirius </font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 71.95pt; padding-top: 0in;" valign="top" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10pt; font-family: Courier; text-align: center;" align="center"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">40%</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 68.45pt; padding-top: 0in;" valign="top" width="91">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>22</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 84.6pt; padding-top: 0in;" valign="top" width="113">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>33</font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 175.5pt; padding-top: 0in;" valign="top" width="234">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 12.6pt; line-height: 10pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Other</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 71.95pt; padding-top: 0in;" valign="top" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10pt; font-family: Courier; text-align: center;" align="center"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">various</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 68.45pt; padding-top: 0in;" valign="top" width="91">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10pt; border-bottom: black 1px solid; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>96</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 84.6pt; padding-top: 0in;" valign="top" width="113">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10pt; border-bottom: black 1px solid; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>102</font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 175.5pt; padding-top: 0in;" valign="top" width="234">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0.3in; line-height: 10pt; font-family: Courier; text-align: justify;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 71.95pt; padding-top: 0in;" valign="top" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 68.45pt; padding-top: 0in;" valign="top" width="91">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10pt; border-bottom: black 3px double; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">$<font
class="_mt"> </font>959</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 84.6pt; padding-top: 0in;" valign="top" width="113">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10pt; border-bottom: black 3px double; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>1,030</font></p></td></tr></table>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font> </p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">The following table presents Liberty's share of earnings (losses) of affiliates:</font></p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font> </p>
<table
class="MsoNormalTable"
style="font-size: 10pt; margin-left: 5.4pt; font-family: 'Times New Roman','serif'; border-collapse: collapse;" cellspacing="0" cellpadding="0" width="577" border="0">
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 279pt; padding-top: 0in;" valign="top" width="372">
<p
class="NoteText2"
style="font-size: 11pt; margin: 0in 0in 10pt 30pt; text-indent: -30pt; line-height: 9.8pt; font-family: 'Times New Roman','serif'; text-align: right;" align="right"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 153.5pt; padding-top: 0in;" valign="bottom" width="205" colspan="3">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 6.25pt; line-height: 9.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; color: black; font-family: 'Bookman Old Style','serif';">Threemonthsended</font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 279pt; padding-top: 0in;" valign="top" width="372">
<p
class="NoteText2"
style="font-size: 11pt; margin: 0in 0in 0pt 30pt; text-indent: -30pt; line-height: 9.8pt; font-family: 'Times New Roman','serif'; text-align: justify;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 153.5pt; padding-top: 0in;" valign="bottom" width="205" colspan="3">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 6.25pt; line-height: 9.8pt; border-bottom: black 1px solid; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; color: black; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>March 31,<font
class="_mt"> </font></font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 279pt; padding-top: 0in;" valign="top" width="372">
<p
class="NoteText2"
style="font-size: 11pt; margin: 0in 0in 0pt 30pt; text-indent: -30pt; line-height: 9.8pt; font-family: 'Times New Roman','serif'; text-align: justify;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 76.5pt; padding-top: 0in;" valign="bottom" width="102">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 6.25pt; line-height: 9.8pt; border-bottom: black 1px solid; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; color: black; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>2010<font
class="_mt"> </font></font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 76.5pt; padding-top: 0in;" valign="top" width="102">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 2.45pt; line-height: 9.8pt; border-bottom: black 1px solid; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; color: black; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>2009<font
class="_mt"> </font></font></p></td>
<td
style="border-right: medium none; padding-right: 0in; border-top: medium none; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: medium none;" width="1">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0pt 0in 0pt; line-height: 12pt; font-family: Courier;"> </p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 279pt; padding-top: 0in;" valign="top" width="372">
<p
class="NoteText2"
style="font-size: 11pt; margin: 0in 0in 0pt 30pt; text-indent: -30pt; line-height: 9.8pt; font-family: 'Times New Roman','serif'; text-align: justify;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 153.5pt; padding-top: 0in;" valign="top" width="205" colspan="3">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 17.1pt 0pt 0.05in; line-height: 9.8pt; font-family: Courier; text-align: center;" align="center"><font
class="_mt"
style="font-size: 9pt; color: black; font-family: 'Bookman Old Style','serif';">amounts in millions</font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 279pt; padding-top: 0in;" valign="bottom" width="372">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 34.6pt; line-height: 9.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Interactive Group</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 76.5pt; padding-top: 0in;" valign="top" width="102">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0.05in; line-height: 9.8pt; font-family: Courier; text-align: right;" align="right"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 76.5pt; padding-top: 0in;" valign="top" width="102">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in -0.9pt 0pt 0in; line-height: 9.8pt; font-family: Courier; text-align: right;" align="right"> </p></td>
<td
style="border-right: medium none; padding-right: 0in; border-top: medium none; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: medium none;" width="1">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0pt 0in 0pt; line-height: 12pt; font-family: Courier;"> </p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 279pt; padding-top: 0in;" valign="bottom" width="372">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 48.1pt; line-height: 9.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Expedia</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 76.5pt; padding-top: 0in;" valign="bottom" width="102">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0.05in; line-height: 9.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">14</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 76.5pt; padding-top: 0in;" valign="bottom" width="102">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in -0.9pt 0pt 0.05in; line-height: 9.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">9</font></p></td>
<td
style="border-right: medium none; padding-right: 0in; border-top: medium none; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: medium none;" width="1">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0pt 0in 0pt; line-height: 12pt; font-family: Courier;"> </p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 279pt; padding-top: 0in;" valign="bottom" width="372">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 48.1pt; line-height: 9.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Other</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 76.5pt; padding-top: 0in;" valign="bottom" width="102">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0.05in; line-height: 9.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">9</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 76.5pt; padding-top: 0in;" valign="bottom" width="102">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in -0.9pt 0pt 0.05in; line-height: 9.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">(104)</font></p></td>
<td
style="border-right: medium none; padding-right: 0in; border-top: medium none; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: medium none;" width="1">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0pt 0in 0pt; line-height: 12pt; font-family: Courier;"> </p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 279pt; padding-top: 0in;" valign="bottom" width="372">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 34.6pt; line-height: 9.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Capital Group</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 76.5pt; padding-top: 0in;" valign="bottom" width="102">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0.05in; line-height: 9.8pt; font-family: Courier; text-align: right;" align="right"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 76.5pt; padding-top: 0in;" valign="bottom" width="102">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in -0.9pt 0pt 0.05in; line-height: 9.8pt; font-family: Courier; text-align: right;" align="right"> </p></td>
<td
style="border-right: medium none; padding-right: 0in; border-top: medium none; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: medium none;" width="1">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0pt 0in 0pt; line-height: 12pt; font-family: Courier;"> </p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 279pt; padding-top: 0in;" valign="bottom" width="372">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 48.6pt; line-height: 9.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Sirius</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 76.5pt; padding-top: 0in;" valign="bottom" width="102">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0.05in; line-height: 9.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">(8)</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 76.5pt; padding-top: 0in;" valign="bottom" width="102">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in -0.9pt 0pt 0.05in; line-height: 9.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">--</font></p></td>
<td
style="border-right: medium none; padding-right: 0in; border-top: medium none; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: medium none;" width="1">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0pt 0in 0pt; line-height: 12pt; font-family: Courier;"> </p></td></tr>
<tr
style="height: 7.65pt;">
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 279pt; padding-top: 0in; height: 7.65pt;" valign="bottom" width="372">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 48.1pt; line-height: 9.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Other</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 76.5pt; padding-top: 0in; height: 7.65pt;" valign="bottom" width="102">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0.05in; line-height: 9.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">(6)</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 76.5pt; padding-top: 0in; height: 7.65pt;" valign="bottom" width="102">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in -0.9pt 0pt 0.05in; line-height: 9.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">(8)</font></p></td>
<td
style="border-right: medium none; padding-right: 0in; border-top: medium none; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: medium none;" width="1">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0pt 0in 0pt; line-height: 12pt; font-family: Courier;"> </p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 279pt; padding-top: 0in;" valign="bottom" width="372">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 35.1pt; line-height: 9.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Starz Group</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 76.5pt; padding-top: 0in;" valign="bottom" width="102">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0.05in; line-height: 9.8pt; font-family: Courier; text-align: right;" align="right"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 76.5pt; padding-top: 0in;" valign="bottom" width="102">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in -0.9pt 0pt 0.05in; line-height: 9.8pt; font-family: Courier; text-align: right;" align="right"> </p></td>
<td
style="border-right: medium none; padding-right: 0in; border-top: medium none; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: medium none;" width="1">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0pt 0in 0pt; line-height: 12pt; font-family: Courier;"> </p></td></tr>
<tr
style="height: 10.35pt;">
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 279pt; padding-top: 0in; height: 10.35pt;" valign="bottom" width="372">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 25.6pt; line-height: 9.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>Other</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 76.5pt; padding-top: 0in; height: 10.35pt;" valign="bottom" width="102">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0.05in; line-height: 9.8pt; border-bottom: black 1px solid; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">--</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 76.5pt; padding-top: 0in; height: 10.35pt;" valign="bottom" width="102">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in -0.9pt 0pt 0.05in; line-height: 9.8pt; border-bottom: black 1px solid; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">(2</font><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">)</font></p></td>
<td
style="border-right: medium none; padding-right: 0in; border-top: medium none; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: medium none;" width="1">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0pt 0in 0pt; line-height: 12pt; font-family: Courier;"> </p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 279pt; padding-top: 0in;" valign="bottom" width="372">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 25.6pt; line-height: 9.8pt; font-family: Courier; text-align: right;" align="right"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 76.5pt; padding-top: 0in;" valign="bottom" width="102">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0.05in; line-height: 9.8pt; border-bottom: black 3px double; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">$<font
class="_mt"> </font>9</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 76.5pt; padding-top: 0in;" valign="bottom" width="102">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in -0.9pt 0pt 0.05in; line-height: 9.8pt; border-bottom: black 3px double; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">(105</font><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">)</font></p></td>
<td
style="border-right: medium none; padding-right: 0in; border-top: medium none; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: medium none;" width="1">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0pt 0in 0pt; line-height: 12pt; font-family: Courier;"> </p></td></tr></table>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><b><i><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font></i></b> </p><b><i><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><br /></font></i></b>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: normal; font-family: Courier;"><b><i><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font></i></b> </p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><b><i><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Expedia</font></i></b><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font></p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">The market value of the Company's investment in Expedia was $1,727 million and $1,781 million at March 31, 2010 and December 31, 2009, respectively.<font
class="_mt"> </font>Summarized unaudited financial information for Expedia is as follows:</font></p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font> </p>
<table
class="MsoNormalTable"
style="font-size: 10pt; margin-left: 5.75pt; font-family: 'Times New Roman','serif'; border-collapse: collapse;" cellspacing="0" cellpadding="0" width="603" border="0">
<tr>
<td
style="padding-right: 5.75pt; padding-left: 5.75pt; padding-bottom: 0in; width: 286.25pt; padding-top: 0in;" valign="top" width="382">
<p
class="NoteTextKeepWithNext"
style="font-size: 11pt; margin: 0in 0in 0pt 40.5pt; text-indent: -40.5pt; line-height: 10.8pt; font-family: 'Times New Roman','serif'; text-align: justify;"><b><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>Expedia Consolidated Balance Sheets</font></b></p></td>
<td
style="padding-right: 5.75pt; padding-left: 5.75pt; padding-bottom: 0in; width: 164.65pt; padding-top: 0in;" valign="bottom" width="220" colspan="4">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 6.25pt; line-height: 10.8pt; font-family: Courier;"> </p></td>
<td
style="border-right: medium none; padding-right: 0in; border-top: medium none; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: medium none;" width="2">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0pt 0in 0pt; line-height: 12pt; font-family: Courier;"> </p></td></tr>
<tr>
<td
style="padding-right: 5.75pt; padding-left: 5.75pt; padding-bottom: 0in; width: 286.25pt; padding-top: 0in;" valign="top" width="382">
<p
class="NoteTextKeepWithNext"
style="font-size: 11pt; margin: 0in 0in 0pt 40.5pt; text-indent: -40.5pt; line-height: 10.8pt; font-family: 'Times New Roman','serif'; text-align: justify;"> </p></td>
<td
style="padding-right: 5.75pt; padding-left: 5.75pt; padding-bottom: 0in; width: 87.25pt; padding-top: 0in;" valign="bottom" width="116" colspan="2">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 6.25pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; color: black; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>March 31,<font
class="_mt"> </font></font></p></td>
<td
style="padding-right: 5.75pt; padding-left: 5.75pt; padding-bottom: 0in; width: 79pt; padding-top: 0in;" valign="bottom" width="105" colspan="3">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 6.25pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; color: black; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>December 31,</font></p></td></tr>
<tr>
<td
style="padding-right: 5.75pt; padding-left: 5.75pt; padding-bottom: 0in; width: 286.25pt; padding-top: 0in;" valign="top" width="382">
<p
class="NoteTextKeepWithNext"
style="font-size: 11pt; margin: 0in 0in 0pt 40.5pt; text-indent: -40.5pt; line-height: 10.8pt; font-family: 'Times New Roman','serif'; text-align: justify;"> </p></td>
<td
style="padding-right: 5.75pt; padding-left: 5.75pt; padding-bottom: 0in; width: 87.25pt; padding-top: 0in;" valign="bottom" width="116" colspan="2">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 6.25pt; line-height: 10.8pt; border-bottom: black 1px solid; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; color: black; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>2010<font
class="_mt"> </font></font></p></td>
<td
style="padding-right: 5.75pt; padding-left: 5.75pt; padding-bottom: 0in; width: 76.5pt; padding-top: 0in;" valign="top" width="102">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 2.45pt; line-height: 10.8pt; border-bottom: black 1px solid; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; color: black; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>2009<font
class="_mt"> </font></font></p></td>
<td
style="border-right: medium none; padding-right: 0in; border-top: medium none; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: medium none;" width="3" colspan="2">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0pt 0in 0pt; line-height: 12pt; font-family: Courier;"> </p></td></tr>
<tr>
<td
style="padding-right: 5.75pt; padding-left: 5.75pt; padding-bottom: 0in; width: 286.25pt; padding-top: 0in;" valign="top" width="382">
<p
class="NoteTextKeepWithNext"
style="font-size: 11pt; margin: 0in 0in 0pt 40.5pt; text-indent: -40.5pt; line-height: 10.8pt; font-family: 'Times New Roman','serif'; text-align: justify;"> </p></td>
<td
style="padding-right: 5.75pt; padding-left: 5.75pt; padding-bottom: 0in; width: 164.65pt; padding-top: 0in;" valign="bottom" width="220" colspan="4">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: center;" align="center"><font
class="_mt"
style="font-size: 9pt; color: black; font-family: 'Bookman Old Style','serif';">amounts in millions</font></p></td>
<td
style="border-right: medium none; padding-right: 0in; border-top: medium none; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: medium none;" width="2">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0pt 0in 0pt; line-height: 12pt; font-family: Courier;"> </p></td></tr>
<tr>
<td
style="padding-right: 5.75pt; padding-left: 5.75pt; padding-bottom: 0in; width: 286.25pt; padding-top: 0in;" valign="bottom" width="382">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 40.5pt; line-height: 10.8pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 5.75pt; padding-left: 5.75pt; padding-bottom: 0in; width: 84.8pt; padding-top: 0in;" valign="bottom" width="113">
<p
class="NoteTextKeepWithNext"
style="font-size: 11pt; margin: 0in 0in 0pt 6.25pt; line-height: 10.8pt; font-family: 'Times New Roman','serif'; text-align: right;" align="right"> </p></td>
<td
style="padding-right: 5.75pt; padding-left: 5.75pt; padding-bottom: 0in; width: 79.85pt; padding-top: 0in;" valign="bottom" width="106" colspan="3">
<p
class="NoteTextKeepWithNext"
style="font-size: 11pt; margin: 0in 0in 0pt 0.05in; line-height: 10.8pt; font-family: 'Times New Roman','serif'; text-align: right;" align="right"> </p></td>
<td
style="border-right: medium none; padding-right: 0in; border-top: medium none; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: medium none;" width="2">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0pt 0in 0pt; line-height: 12pt; font-family: Courier;"> </p></td></tr>
<tr>
<td
style="padding-right: 5.75pt; padding-left: 5.75pt; padding-bottom: 0in; width: 286.25pt; padding-top: 0in;" valign="bottom" width="382">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 40.5pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; color: black; font-family: 'Bookman Old Style','serif';">Current assets</font></p></td>
<td
style="padding-right: 5.75pt; padding-left: 5.75pt; padding-bottom: 0in; width: 84.8pt; padding-top: 0in;" valign="bottom" width="113">
<p
class="NoteTextKeepWithNext"
style="font-size: 11pt; margin: 0in 0in 0pt 6.25pt; line-height: 10.8pt; font-family: 'Times New Roman','serif'; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">$<font
class="_mt"> </font>1,713</font></p></td>
<td
style="padding-right: 5.75pt; padding-left: 5.75pt; padding-bottom: 0in; width: 79.85pt; padding-top: 0in;" valign="bottom" width="106" colspan="3">
<p
class="NoteTextKeepWithNext"
style="font-size: 11pt; margin: 0in 0in 0pt 6.25pt; line-height: 10.8pt; font-family: 'Times New Roman','serif'; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">1,225</font></p></td>
<td
style="border-right: medium none; padding-right: 0in; border-top: medium none; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: medium none;" width="2">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0pt 0in 0pt; line-height: 12pt; font-family: Courier;"> </p></td></tr>
<tr>
<td
style="padding-right: 5.75pt; padding-left: 5.75pt; padding-bottom: 0in; width: 286.25pt; padding-top: 0in;" valign="bottom" width="382">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 40.5pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; color: black; font-family: 'Bookman Old Style','serif';">Property and equipment</font></p></td>
<td
style="padding-right: 5.75pt; padding-left: 5.75pt; padding-bottom: 0in; width: 84.8pt; padding-top: 0in;" valign="bottom" width="113">
<p
class="NoteTextKeepWithNext"
style="font-size: 11pt; margin: 0in 0in 0pt 6.25pt; line-height: 10.8pt; font-family: 'Times New Roman','serif'; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">236</font></p></td>
<td
style="padding-right: 5.75pt; padding-left: 5.75pt; padding-bottom: 0in; width: 79.85pt; padding-top: 0in;" valign="bottom" width="106" colspan="3">
<p
class="NoteTextKeepWithNext"
style="font-size: 11pt; margin: 0in 0in 0pt 6.25pt; line-height: 10.8pt; font-family: 'Times New Roman','serif'; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">237</font></p></td>
<td
style="border-right: medium none; padding-right: 0in; border-top: medium none; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: medium none;" width="2">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0pt 0in 0pt; line-height: 12pt; font-family: Courier;"> </p></td></tr>
<tr>
<td
style="padding-right: 5.75pt; padding-left: 5.75pt; padding-bottom: 0in; width: 286.25pt; padding-top: 0in;" valign="bottom" width="382">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 40.5pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; color: black; font-family: 'Bookman Old Style','serif';">Goodwill</font></p></td>
<td
style="padding-right: 5.75pt; padding-left: 5.75pt; padding-bottom: 0in; width: 84.8pt; padding-top: 0in;" valign="bottom" width="113">
<p
class="NoteTextKeepWithNext"
style="font-size: 11pt; margin: 0in 0in 0pt 6.25pt; line-height: 10.8pt; font-family: 'Times New Roman','serif'; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">3,584</font></p></td>
<td
style="padding-right: 5.75pt; padding-left: 5.75pt; padding-bottom: 0in; width: 79.85pt; padding-top: 0in;" valign="bottom" width="106" colspan="3">
<p
class="NoteTextKeepWithNext"
style="font-size: 11pt; margin: 0in 0in 0pt 6.25pt; line-height: 10.8pt; font-family: 'Times New Roman','serif'; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">3,604</font></p></td>
<td
style="border-right: medium none; padding-right: 0in; border-top: medium none; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: medium none;" width="2">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0pt 0in 0pt; line-height: 12pt; font-family: Courier;"> </p></td></tr>
<tr>
<td
style="padding-right: 5.75pt; padding-left: 5.75pt; padding-bottom: 0in; width: 286.25pt; padding-top: 0in;" valign="bottom" width="382">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 40.5pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; color: black; font-family: 'Bookman Old Style','serif';">Intangible assets</font></p></td>
<td
style="padding-right: 5.75pt; padding-left: 5.75pt; padding-bottom: 0in; width: 84.8pt; padding-top: 0in;" valign="bottom" width="113">
<p
class="NoteTextKeepWithNext"
style="font-size: 11pt; margin: 0in 0in 0pt 6.25pt; line-height: 10.8pt; font-family: 'Times New Roman','serif'; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">809</font></p></td>
<td
style="padding-right: 5.75pt; padding-left: 5.75pt; padding-bottom: 0in; width: 79.85pt; padding-top: 0in;" valign="bottom" width="106" colspan="3">
<p
class="NoteTextKeepWithNext"
style="font-size: 11pt; margin: 0in 0in 0pt 6.25pt; line-height: 10.8pt; font-family: 'Times New Roman','serif'; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">823</font></p></td>
<td
style="border-right: medium none; padding-right: 0in; border-top: medium none; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: medium none;" width="2">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0pt 0in 0pt; line-height: 12pt; font-family: Courier;"> </p></td></tr>
<tr>
<td
style="padding-right: 5.75pt; padding-left: 5.75pt; padding-bottom: 0in; width: 286.25pt; padding-top: 0in;" valign="bottom" width="382">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 40.5pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; color: black; font-family: 'Bookman Old Style','serif';">Other assets</font></p></td>
<td
style="padding-right: 5.75pt; padding-left: 5.75pt; padding-bottom: 0in; width: 84.8pt; padding-top: 0in;" valign="bottom" width="113">
<p
class="NoteTextKeepWithNext"
style="font-size: 11pt; margin: 0in 0in 0pt 6.25pt; line-height: 10.8pt; border-bottom: black 1px solid; font-family: 'Times New Roman','serif'; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">78</font></p></td>
<td
style="padding-right: 5.75pt; padding-left: 5.75pt; padding-bottom: 0in; width: 79.85pt; padding-top: 0in;" valign="bottom" width="106" colspan="3">
<p
class="NoteTextKeepWithNext"
style="font-size: 11pt; margin: 0in 0in 0pt 6.25pt; line-height: 10.8pt; border-bottom: black 1px solid; font-family: 'Times New Roman','serif'; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">48</font></p></td>
<td
style="border-right: medium none; padding-right: 0in; border-top: medium none; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: medium none;" width="2">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0pt 0in 0pt; line-height: 12pt; font-family: Courier;"> </p></td></tr>
<tr>
<td
style="padding-right: 5.75pt; padding-left: 5.75pt; padding-bottom: 0in; width: 286.25pt; padding-top: 0in;" valign="bottom" width="382">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 40.5pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; color: black; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>Total assets</font></p></td>
<td
style="padding-right: 5.75pt; padding-left: 5.75pt; padding-bottom: 0in; width: 84.8pt; padding-top: 0in;" valign="bottom" width="113">
<p
class="NoteTextKeepWithNext"
style="font-size: 11pt; margin: 0in 0in 0pt 6.25pt; line-height: 10.8pt; border-bottom: black 3px double; font-family: 'Times New Roman','serif'; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">$<font
class="_mt"> </font>6,420</font></p></td>
<td
style="padding-right: 5.75pt; padding-left: 5.75pt; padding-bottom: 0in; width: 79.85pt; padding-top: 0in;" valign="bottom" width="106" colspan="3">
<p
class="NoteTextKeepWithNext"
style="font-size: 11pt; margin: 0in 0in 0pt 6.25pt; line-height: 10.8pt; border-bottom: black 3px double; font-family: 'Times New Roman','serif'; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">5,937</font></p></td>
<td
style="border-right: medium none; padding-right: 0in; border-top: medium none; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: medium none;" width="2">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0pt 0in 0pt; line-height: 12pt; font-family: Courier;"> </p></td></tr>
<tr>
<td
style="padding-right: 5.75pt; padding-left: 5.75pt; padding-bottom: 0in; width: 286.25pt; padding-top: 0in;" valign="bottom" width="382">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 40.5pt; line-height: 10.8pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 5.75pt; padding-left: 5.75pt; padding-bottom: 0in; width: 84.8pt; padding-top: 0in;" valign="bottom" width="113">
<p
class="NoteTextKeepWithNext"
style="font-size: 11pt; margin: 0in 0in 0pt 6.25pt; line-height: 10.8pt; font-family: 'Times New Roman','serif'; text-align: right;" align="right"> </p></td>
<td
style="padding-right: 5.75pt; padding-left: 5.75pt; padding-bottom: 0in; width: 79.85pt; padding-top: 0in;" valign="bottom" width="106" colspan="3">
<p
class="NoteTextKeepWithNext"
style="font-size: 11pt; margin: 0in 0in 0pt 6.25pt; line-height: 10.8pt; font-family: 'Times New Roman','serif'; text-align: right;" align="right"> </p></td>
<td
style="border-right: medium none; padding-right: 0in; border-top: medium none; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: medium none;" width="2">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0pt 0in 0pt; line-height: 12pt; font-family: Courier;"> </p></td></tr>
<tr>
<td
style="padding-right: 5.75pt; padding-left: 5.75pt; padding-bottom: 0in; width: 286.25pt; padding-top: 0in;" valign="bottom" width="382">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 40.5pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; color: black; font-family: 'Bookman Old Style','serif';">Current liabilities</font></p></td>
<td
style="padding-right: 5.75pt; padding-left: 5.75pt; padding-bottom: 0in; width: 84.8pt; padding-top: 0in;" valign="bottom" width="113">
<p
class="NoteTextKeepWithNext"
style="font-size: 11pt; margin: 0in 0in 0pt 6.25pt; line-height: 10.8pt; font-family: 'Times New Roman','serif'; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">$<font
class="_mt"> </font>2,444</font></p></td>
<td
style="padding-right: 5.75pt; padding-left: 5.75pt; padding-bottom: 0in; width: 79.85pt; padding-top: 0in;" valign="bottom" width="106" colspan="3">
<p
class="NoteTextKeepWithNext"
style="font-size: 11pt; margin: 0in 0in 0pt 6.25pt; line-height: 10.8pt; font-family: 'Times New Roman','serif'; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">1,835</font></p></td>
<td
style="border-right: medium none; padding-right: 0in; border-top: medium none; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: medium none;" width="2">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0pt 0in 0pt; line-height: 12pt; font-family: Courier;"> </p></td></tr>
<tr>
<td
style="padding-right: 5.75pt; padding-left: 5.75pt; padding-bottom: 0in; width: 286.25pt; padding-top: 0in;" valign="bottom" width="382">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 40.5pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; color: black; font-family: 'Bookman Old Style','serif';">Deferred income taxes</font></p></td>
<td
style="padding-right: 5.75pt; padding-left: 5.75pt; padding-bottom: 0in; width: 84.8pt; padding-top: 0in;" valign="bottom" width="113">
<p
class="NoteTextKeepWithNext"
style="font-size: 11pt; margin: 0in 0in 0pt 6.25pt; line-height: 10.8pt; font-family: 'Times New Roman','serif'; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">230</font></p></td>
<td
style="padding-right: 5.75pt; padding-left: 5.75pt; padding-bottom: 0in; width: 79.85pt; padding-top: 0in;" valign="bottom" width="106" colspan="3">
<p
class="NoteTextKeepWithNext"
style="font-size: 11pt; margin: 0in 0in 0pt 6.25pt; line-height: 10.8pt; font-family: 'Times New Roman','serif'; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">224</font></p></td>
<td
style="border-right: medium none; padding-right: 0in; border-top: medium none; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: medium none;" width="2">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0pt 0in 0pt; line-height: 12pt; font-family: Courier;"> </p></td></tr>
<tr>
<td
style="padding-right: 5.75pt; padding-left: 5.75pt; padding-bottom: 0in; width: 286.25pt; padding-top: 0in;" valign="bottom" width="382">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 40.5pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; color: black; font-family: 'Bookman Old Style','serif';">Long-term debt</font></p></td>
<td
style="padding-right: 5.75pt; padding-left: 5.75pt; padding-bottom: 0in; width: 84.8pt; padding-top: 0in;" valign="bottom" width="113">
<p
class="NoteTextKeepWithNext"
style="font-size: 11pt; margin: 0in 0in 0pt 6.25pt; line-height: 10.8pt; font-family: 'Times New Roman','serif'; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">895</font></p></td>
<td
style="padding-right: 5.75pt; padding-left: 5.75pt; padding-bottom: 0in; width: 79.85pt; padding-top: 0in;" valign="bottom" width="106" colspan="3">
<p
class="NoteTextKeepWithNext"
style="font-size: 11pt; margin: 0in 0in 0pt 6.25pt; line-height: 10.8pt; font-family: 'Times New Roman','serif'; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">895</font></p></td>
<td
style="border-right: medium none; padding-right: 0in; border-top: medium none; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: medium none;" width="2">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0pt 0in 0pt; line-height: 12pt; font-family: Courier;"> </p></td></tr>
<tr>
<td
style="padding-right: 5.75pt; padding-left: 5.75pt; padding-bottom: 0in; width: 286.25pt; padding-top: 0in;" valign="bottom" width="382">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 40.5pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; color: black; font-family: 'Bookman Old Style','serif';">Other liabilities</font></p></td>
<td
style="padding-right: 5.75pt; padding-left: 5.75pt; padding-bottom: 0in; width: 84.8pt; padding-top: 0in;" valign="bottom" width="113">
<p
class="NoteTextKeepWithNext"
style="font-size: 11pt; margin: 0in 0in 0pt 6.25pt; line-height: 10.8pt; font-family: 'Times New Roman','serif'; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">244</font></p></td>
<td
style="padding-right: 5.75pt; padding-left: 5.75pt; padding-bottom: 0in; width: 79.85pt; padding-top: 0in;" valign="bottom" width="106" colspan="3">
<p
class="NoteTextKeepWithNext"
style="font-size: 11pt; margin: 0in 0in 0pt 6.25pt; line-height: 10.8pt; font-family: 'Times New Roman','serif'; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">233</font></p></td>
<td
style="border-right: medium none; padding-right: 0in; border-top: medium none; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: medium none;" width="2">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0pt 0in 0pt; line-height: 12pt; font-family: Courier;"> </p></td></tr>
<tr>
<td
style="padding-right: 5.75pt; padding-left: 5.75pt; padding-bottom: 0in; width: 286.25pt; padding-top: 0in;" valign="bottom" width="382">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 40.5pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; color: black; font-family: 'Bookman Old Style','serif';">Noncontrolling interest</font></p></td>
<td
style="padding-right: 5.75pt; padding-left: 5.75pt; padding-bottom: 0in; width: 84.8pt; padding-top: 0in;" valign="bottom" width="113">
<p
class="NoteTextKeepWithNext"
style="font-size: 11pt; margin: 0in 0in 0pt 6.25pt; line-height: 10.8pt; font-family: 'Times New Roman','serif'; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">68</font></p></td>
<td
style="padding-right: 5.75pt; padding-left: 5.75pt; padding-bottom: 0in; width: 79.85pt; padding-top: 0in;" valign="bottom" width="106" colspan="3">
<p
class="NoteTextKeepWithNext"
style="font-size: 11pt; margin: 0in 0in 0pt 6.25pt; line-height: 10.8pt; font-family: 'Times New Roman','serif'; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">67</font></p></td>
<td
style="border-right: medium none; padding-right: 0in; border-top: medium none; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: medium none;" width="2">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0pt 0in 0pt; line-height: 12pt; font-family: Courier;"> </p></td></tr>
<tr>
<td
style="padding-right: 5.75pt; padding-left: 5.75pt; padding-bottom: 0in; width: 286.25pt; padding-top: 0in;" valign="bottom" width="382">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 40.5pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; color: black; font-family: 'Bookman Old Style','serif';">Equity</font></p></td>
<td
style="padding-right: 5.75pt; padding-left: 5.75pt; padding-bottom: 0in; width: 84.8pt; padding-top: 0in;" valign="bottom" width="113">
<p
class="NoteTextKeepWithNext"
style="font-size: 11pt; margin: 0in 0in 0pt 6.25pt; line-height: 10.8pt; border-bottom: black 1px solid; font-family: 'Times New Roman','serif'; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">2,539</font><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font></p></td>
<td
style="padding-right: 5.75pt; padding-left: 5.75pt; padding-bottom: 0in; width: 79.85pt; padding-top: 0in;" valign="bottom" width="106" colspan="3">
<p
class="NoteTextKeepWithNext"
style="font-size: 11pt; margin: 0in 0in 0pt 6.25pt; line-height: 10.8pt; border-bottom: black 1px solid; font-family: 'Times New Roman','serif'; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">2,683</font><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font></p></td>
<td
style="border-right: medium none; padding-right: 0in; border-top: medium none; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: medium none;" width="2">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0pt 0in 0pt; line-height: 12pt; font-family: Courier;"> </p></td></tr>
<tr>
<td
style="padding-right: 5.75pt; padding-left: 5.75pt; padding-bottom: 0in; width: 286.25pt; padding-top: 0in;" valign="bottom" width="382">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 40.5pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; color: black; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>Total liabilities and equity</font></p></td>
<td
style="padding-right: 5.75pt; padding-left: 5.75pt; padding-bottom: 0in; width: 84.8pt; padding-top: 0in;" valign="bottom" width="113">
<p
class="NoteTextKeepWithNext"
style="font-size: 11pt; margin: 0in 0in 0pt 6.25pt; line-height: 10.8pt; border-bottom: black 3px double; font-family: 'Times New Roman','serif'; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">$<font
class="_mt"> </font>6,420</font></p></td>
<td
style="padding-right: 5.75pt; padding-left: 5.75pt; padding-bottom: 0in; width: 79.85pt; padding-top: 0in;" valign="bottom" width="106" colspan="3">
<p
class="NoteTextKeepWithNext"
style="font-size: 11pt; margin: 0in 0in 0pt 6.25pt; line-height: 10.8pt; border-bottom: black 3px double; font-family: 'Times New Roman','serif'; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">5,937</font></p></td>
<td
style="border-right: medium none; padding-right: 0in; border-top: medium none; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: medium none;" width="2">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0pt 0in 0pt; line-height: 12pt; font-family: Courier;"> </p></td></tr>
<tr>
<td
style="border-right: medium none; border-top: medium none; border-left: medium none; border-bottom: medium none;" width="382"> </td>
<td
style="border-right: medium none; border-top: medium none; border-left: medium none; border-bottom: medium none;" width="113"> </td>
<td
style="border-right: medium none; border-top: medium none; border-left: medium none; border-bottom: medium none;" width="3"> </td>
<td
style="border-right: medium none; border-top: medium none; border-left: medium none; border-bottom: medium none;" width="102"> </td>
<td
style="border-right: medium none; border-top: medium none; border-left: medium none; border-bottom: medium none;" width="1"> </td>
<td
style="border-right: medium none; border-top: medium none; border-left: medium none; border-bottom: medium none;" width="2"> </td></tr></table>
<p
class="NoteText2"
style="font-size: 11pt; margin: 0in 0in 0pt 0.5in; text-indent: -0.5in; line-height: 10.8pt; font-family: 'Times New Roman','serif'; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font> </p>
<table
class="MsoNormalTable"
style="font-size: 10pt; margin-left: 5.4pt; font-family: 'Times New Roman','serif'; border-collapse: collapse;" cellspacing="0" cellpadding="0" width="600" border="0">
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 4in; padding-top: 0in;" valign="top" width="384"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><br /></font>
<p
class="NoteText2"
style="font-size: 11pt; margin: 0in 0in 0pt 43.6pt; text-indent: -43.6pt; line-height: 10.8pt; font-family: 'Times New Roman','serif'; text-align: left;" align="left"><b><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>Expedia Consolidated Statements of Operations</font></b></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 2.25in; padding-top: 0in;" valign="top" width="216" colspan="2">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 6.25pt; line-height: 10.8pt; font-family: Courier;"> </p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 4in; padding-top: 0in;" valign="top" width="384">
<p
class="NoteText2"
style="font-size: 11pt; margin: 0in 0in 0pt 30pt; text-indent: -30pt; line-height: 10.8pt; font-family: 'Times New Roman','serif'; text-align: justify;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 2.25in; padding-top: 0in;" valign="bottom" width="216" colspan="2">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 6.25pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; color: black; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>Three months ended<font
class="_mt"> </font></font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 4in; padding-top: 0in;" valign="top" width="384">
<p
class="NoteText2"
style="font-size: 11pt; margin: 0in 0in 0pt 30pt; text-indent: -30pt; line-height: 10.8pt; font-family: 'Times New Roman','serif'; text-align: justify;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 2.25in; padding-top: 0in;" valign="bottom" width="216" colspan="2">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 6.25pt; line-height: 10.8pt; border-bottom: black 1px solid; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; color: black; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>March 31,<font
class="_mt"> </font></font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 4in; padding-top: 0in;" valign="top" width="384">
<p
class="NoteText2"
style="font-size: 11pt; margin: 0in 0in 0pt 30pt; text-indent: -30pt; line-height: 10.8pt; font-family: 'Times New Roman','serif'; text-align: justify;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 81pt; padding-top: 0in;" valign="bottom" width="108">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 6.25pt; line-height: 10.8pt; border-bottom: black 1px solid; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; color: black; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>2010<font
class="_mt"> </font></font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 81pt; padding-top: 0in;" valign="top" width="108">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 2.45pt; line-height: 10.8pt; border-bottom: black 1px solid; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; color: black; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>2009<font
class="_mt"> </font></font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 4in; padding-top: 0in;" valign="top" width="384">
<p
class="NoteText2"
style="font-size: 11pt; margin: 0in 0in 0pt 30pt; text-indent: -30pt; line-height: 10.8pt; font-family: 'Times New Roman','serif'; text-align: justify;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 2.25in; padding-top: 0in;" valign="top" width="216" colspan="2">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 17.1pt 0pt 0.05in; line-height: 10.8pt; font-family: Courier; text-align: center;" align="center"><font
class="_mt"
style="font-size: 9pt; color: black; font-family: 'Bookman Old Style','serif';">amounts in millions</font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 4in; padding-top: 0in;" valign="bottom" width="384">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 43.6pt; text-indent: -43.6pt; line-height: 8pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 81pt; padding-top: 0in;" valign="top" width="108">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 17.1pt 0pt 0.05in; line-height: 8pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 81pt; padding-top: 0in;" valign="top" width="108">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 17.1pt 0pt 0.05in; line-height: 8pt; font-family: Courier;"> </p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 4in; padding-top: 0in;" valign="top" width="384">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 43.6pt; text-indent: -43.6pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>Revenue</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 81pt; padding-top: 0in;" valign="top" width="108">
<p
class="NoteTextKeepWithNext"
style="font-size: 11pt; margin: 0in 0in 0pt 6.25pt; line-height: 10.8pt; font-family: 'Times New Roman','serif'; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">$<font
class="_mt"> </font>718</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 81pt; padding-top: 0in;" valign="top" width="108">
<p
class="NoteTextKeepWithNext"
style="font-size: 11pt; margin: 0in 0in 0pt 0.05in; line-height: 10.8pt; font-family: 'Times New Roman','serif'; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">636</font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 4in; padding-top: 0in;" valign="top" width="384">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 43.6pt; text-indent: -43.6pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>Cost of revenue</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 81pt; padding-top: 0in;" valign="top" width="108">
<p
class="NoteTextKeepWithNext"
style="font-size: 11pt; margin: 0in 0in 0pt 6.25pt; line-height: 10.8pt; border-bottom: black 1px solid; font-family: 'Times New Roman','serif'; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">(158</font><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">)</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 81pt; padding-top: 0in;" valign="top" width="108">
<p
class="NoteTextKeepWithNext"
style="font-size: 11pt; margin: 0in 0in 0pt 0.05in; line-height: 10.8pt; border-bottom: black 1px solid; font-family: 'Times New Roman','serif'; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">(144</font><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">)</font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 4in; padding-top: 0in;" valign="top" width="384">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 43.6pt; text-indent: -43.6pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>Gross profit</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 81pt; padding-top: 0in;" valign="top" width="108">
<p
class="NoteTextKeepWithNext"
style="font-size: 11pt; margin: 0in 0in 0pt 6.25pt; line-height: 10.8pt; font-family: 'Times New Roman','serif'; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">560</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 81pt; padding-top: 0in;" valign="top" width="108">
<p
class="NoteTextKeepWithNext"
style="font-size: 11pt; margin: 0in 0in 0pt 0.05in; line-height: 10.8pt; font-family: 'Times New Roman','serif'; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">492</font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 4in; padding-top: 0in;" valign="top" width="384">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 43.6pt; text-indent: -43.6pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>Selling, general and administrative expenses</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 81pt; padding-top: 0in;" valign="top" width="108">
<p
class="NoteTextKeepWithNext"
style="font-size: 11pt; margin: 0in 0in 0pt 6.25pt; line-height: 10.8pt; font-family: 'Times New Roman','serif'; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">(439)</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 81pt; padding-top: 0in;" valign="top" width="108">
<p
class="NoteTextKeepWithNext"
style="font-size: 11pt; margin: 0in 0in 0pt 0.05in; line-height: 10.8pt; font-family: 'Times New Roman','serif'; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">(381)</font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 4in; padding-top: 0in;" valign="top" width="384">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 43.6pt; text-indent: -43.6pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>Amortization</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 81pt; padding-top: 0in;" valign="top" width="108">
<p
class="NoteTextKeepWithNext"
style="font-size: 11pt; margin: 0in 0in 0pt 6.25pt; line-height: 10.8pt; font-family: 'Times New Roman','serif'; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">(9)</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 81pt; padding-top: 0in;" valign="top" width="108">
<p
class="NoteTextKeepWithNext"
style="font-size: 11pt; margin: 0in 0in 0pt 0.05in; line-height: 10.8pt; font-family: 'Times New Roman','serif'; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">(9)</font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 4in; padding-top: 0in;" valign="top" width="384">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 43.6pt; text-indent: -43.6pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>Restructuring charges and other</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 81pt; padding-top: 0in;" valign="top" width="108">
<p
class="NoteTextKeepWithNext"
style="font-size: 11pt; margin: 0in 0in 0pt 6.25pt; line-height: 10.8pt; border-bottom: black 1px solid; font-family: 'Times New Roman','serif'; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">--</font><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 81pt; padding-top: 0in;" valign="top" width="108">
<p
class="NoteTextKeepWithNext"
style="font-size: 11pt; margin: 0in 0in 0pt 0.05in; line-height: 10.8pt; border-bottom: black 1px solid; font-family: 'Times New Roman','serif'; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">(9</font><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">)</font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 4in; padding-top: 0in;" valign="top" width="384">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 43.6pt; text-indent: -43.6pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>Operating income </font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 81pt; padding-top: 0in;" valign="top" width="108">
<p
class="NoteTextKeepWithNext"
style="font-size: 11pt; margin: 0in 0in 0pt 6.25pt; line-height: 10.8pt; font-family: 'Times New Roman','serif'; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">112</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 81pt; padding-top: 0in;" valign="top" width="108">
<p
class="NoteTextKeepWithNext"
style="font-size: 11pt; margin: 0in 0in 0pt 0.05in; line-height: 10.8pt; font-family: 'Times New Roman','serif'; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">93</font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 4in; padding-top: 0in;" valign="top" width="384">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 43.6pt; text-indent: -43.6pt; line-height: 8pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 81pt; padding-top: 0in;" valign="top" width="108">
<p
class="NoteTextKeepWithNext"
style="font-size: 11pt; margin: 0in 0in 0pt 6.25pt; line-height: 8pt; font-family: 'Times New Roman','serif'; text-align: right;" align="right"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 81pt; padding-top: 0in;" valign="top" width="108">
<p
class="NoteTextKeepWithNext"
style="font-size: 11pt; margin: 0in 0in 0pt 0.05in; line-height: 8pt; font-family: 'Times New Roman','serif'; text-align: right;" align="right"> </p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 4in; padding-top: 0in;" valign="top" width="384">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 43.6pt; text-indent: -43.6pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>Interest expense</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 81pt; padding-top: 0in;" valign="top" width="108">
<p
class="NoteTextKeepWithNext"
style="font-size: 11pt; margin: 0in 0in 0pt 6.25pt; line-height: 10.8pt; font-family: 'Times New Roman','serif'; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">(21)</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 81pt; padding-top: 0in;" valign="top" width="108">
<p
class="NoteTextKeepWithNext"
style="font-size: 11pt; margin: 0in 0in 0pt 0.05in; line-height: 10.8pt; font-family: 'Times New Roman','serif'; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">(22)</font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 4in; padding-top: 0in;" valign="top" width="384">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 43.6pt; text-indent: -43.6pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>Other income (expense), net</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 81pt; padding-top: 0in;" valign="top" width="108">
<p
class="NoteTextKeepWithNext"
style="font-size: 11pt; margin: 0in 0in 0pt 6.25pt; line-height: 10.8pt; font-family: 'Times New Roman','serif'; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">1</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 81pt; padding-top: 0in;" valign="top" width="108">
<p
class="NoteTextKeepWithNext"
style="font-size: 11pt; margin: 0in 0in 0pt 0.05in; line-height: 10.8pt; font-family: 'Times New Roman','serif'; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">(4)</font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 4in; padding-top: 0in;" valign="top" width="384">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 43.6pt; text-indent: -43.6pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>Income tax expense</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 81pt; padding-top: 0in;" valign="top" width="108">
<p
class="NoteTextKeepWithNext"
style="font-size: 11pt; margin: 0in 0in 0pt 6.25pt; line-height: 10.8pt; border-bottom: black 1px solid; font-family: 'Times New Roman','serif'; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">(32</font><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">)</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 81pt; padding-top: 0in;" valign="top" width="108">
<p
class="NoteTextKeepWithNext"
style="font-size: 11pt; margin: 0in 0in 0pt 0.05in; line-height: 10.8pt; border-bottom: black 1px solid; font-family: 'Times New Roman','serif'; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">(27</font><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">)</font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 4in; padding-top: 0in;" valign="top" width="384">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 43.6pt; text-indent: -43.6pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>Net earnings </font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 81pt; padding-top: 0in;" valign="top" width="108">
<p
class="NoteTextKeepWithNext"
style="font-size: 11pt; margin: 0in 0in 0pt 6.25pt; line-height: 10.8pt; font-family: 'Times New Roman','serif'; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">60</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 81pt; padding-top: 0in;" valign="top" width="108">
<p
class="NoteTextKeepWithNext"
style="font-size: 11pt; margin: 0in 0in 0pt 0.05in; line-height: 10.8pt; font-family: 'Times New Roman','serif'; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">40</font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 4in; padding-top: 0in;" valign="top" width="384">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0.8in; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>Net earnings attributable to noncontrolling interests</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 81pt; padding-top: 0in;" valign="top" width="108">
<p
class="NoteTextKeepWithNext"
style="font-size: 11pt; margin: 0in 0in 0pt 6.25pt; line-height: 10.8pt; border-bottom: black 1px solid; font-family: 'Times New Roman','serif'; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">(1</font><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">)</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 81pt; padding-top: 0in;" valign="top" width="108">
<p
class="NoteTextKeepWithNext"
style="font-size: 11pt; margin: 0in 0in 0pt 0.05in; line-height: 10.8pt; border-bottom: black 1px solid; font-family: 'Times New Roman','serif'; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">(1</font><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">)</font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 4in; padding-top: 0in;" valign="top" width="384">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0.8in; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>Net earnings attributable to Expedia, Inc.</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 81pt; padding-top: 0in;" valign="top" width="108">
<p
class="NoteTextKeepWithNext"
style="font-size: 11pt; margin: 0in 0in 0pt 6.25pt; line-height: 10.8pt; border-bottom: black 3px double; font-family: 'Times New Roman','serif'; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">$<font
class="_mt"> </font>59</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 81pt; padding-top: 0in;" valign="top" width="108">
<p
class="NoteTextKeepWithNext"
style="font-size: 11pt; margin: 0in 0in 0pt 0.05in; line-height: 10.8pt; border-bottom: black 3px double; font-family: 'Times New Roman','serif'; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">39</font></p></td></tr></table>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font> </p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><b><i><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Sirius XM Radio Inc.</font></i></b></p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">During 2009, Liberty made equity contributions and loans to SIRIUS XM and made open market purchases of SIRIUS XM public debt.<font
class="_mt"> </font></font></p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font> </p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">In the first quarter of 2009, Liberty and SIRIUS XM entered into a senior secured loan agreement (the "Senior Loan") whereby Liberty loaned SIRIUS XM $250 million and made a commitment to loan an additional $30 million to fund qualifying expenditures by SIRIUS XM (the "Purchase Money Commitment").<font
class="_mt"> </font>In exchange for making the Senior Loan, Liberty received a $30 million origination fee.<font
class="_mt"> </font>Liberty accounted for the origination fee as a discount to the Senior Loan.<font
class="_mt"> </font>On March 6, 2009, Liberty (i) purchased $100 million of a new senior loan facility of a subsidiary of SIRIUS XM ("Subsidiary Senior Loan"), (ii) purchased $61 million of bank debt of such subsidiary directly from the lending group and (iii) committed to make a loan of $150 million to such subsidiary in December 2009 ("Subsidiary Commitment"). In addition, Liberty received voting preferred stock of SIRIUS XM (the "SIRIUS XM Preferred Stock"), which has substantially the same rights and preferences as common shareholders of SIRIUS XM, for a cash payment of $12,500. The SIRIUS XM Preferred Stock is convertible into common stock equal to 40% of the outstanding common shares after giving effect to such conversion.</font></p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font> </p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Liberty allocated the total consideration paid for the Subsidiary Senior Loan, the Subsidiary Commitment and the SIRIUS XM Preferred Stock to each of the instruments based on their relative fair values.</font></p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font> </p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">During the first quarter of 2010, Liberty purchased an additional $150 million of Sirius 8.75% debt securities due April 15, 2015 at par.<font
class="_mt"> </font>As of March 31, 2010, Liberty owns $429 million principal amount of SIRIUS XM public bonds, which are accounted for as AFS securities and have a fair market value of $450 million, and the SIRIUS XM Preferred Stock.<font
class="_mt"> </font>Subsequent to quarter end SIRIUS XM repurchased and retired certain public bonds of which Liberty owned approximately $55 million of the principal amount.</font></p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font> </p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Based on Liberty's voting rights and its conclusion that the SIRIUS XM Preferred Stock is in-substance common stock, Liberty accounts for its investment in the SIRIUS XM Preferred Stock using the equity method of accounting. Liberty has elected to record its share of earnings/losses for SIRIUS XM on a three-month lag due to timeliness considerations.<font
class="_mt"> </font>As of December 31, 2009 SIRIUS XM had total assets and liabilities of $7,264 million and $7,226 million, respectively.<font
class="_mt"> </font>SIRIUS XM's net loss attributable to common shareholders was $529 million for the year ended December 31, 2009.</font></p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font> </p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">As of March 31, 2010, the SIRIUS XM Preferred Stock had a market value of $2,251 million based on the value of the common stock into which it is convertible. </font></p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font> </p><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Liberty's investment in SIRIUS XM has been attributed to the Capital Group.</font> </div> </div>
<div> <div>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: normal; font-family: Courier;"><b><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">(</font></b><b><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">5)<font
class="_mt"> </font><u>Assets and Liabilities Measured at Fair Value</u></font></b></p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">For assets and liabilities required to be reported at fair value, GAAP provides a hierarchy that prioritizes inputs to valuation techniques used to measure fair value into three broad levels.<font
class="_mt"> </font>Level 1 inputs are quoted market prices in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date.<font
class="_mt"> </font>Level 2 inputs are inputs, other than quoted market prices included within Level 1, that are observable for the asset or liability, either directly or indirectly.<font
class="_mt"> </font>Level 3 inputs are unobservable inputs for the asset or liability.</font></p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font> </p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">The Company's assets and liabilities measured at fair value are as follows:</font></p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font> </p>
<table
class="MsoNormalTable"
style="font-size: 10pt; margin-left: 0px! important; width: 508.5pt; font-family: 'Times New Roman','serif'; border-collapse: collapse;" cellspacing="0" cellpadding="0" width="678" border="0">
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 2.25in; padding-top: 0in;" valign="top" width="216">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 346.5pt; padding-top: 0in;" valign="top" width="462" colspan="4">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 62.1pt; line-height: 10.8pt; border-bottom: black 1px solid; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>Fair Value Measurements at March 31, 2010<font
class="_mt"> </font></font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 2.25in; padding-top: 0in;" valign="top" width="216">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 63pt; padding-top: 0in;" valign="top" width="84">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 1.5in; padding-top: 0in;" valign="top" width="144">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Quoted prices</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 94.5pt; padding-top: 0in;" valign="top" width="126">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Significant other</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 81pt; padding-top: 0in;" valign="top" width="108">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Significant</font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 2.25in; padding-top: 0in;" valign="top" width="216">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 63pt; padding-top: 0in;" valign="top" width="84">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 1.5in; padding-top: 0in;" valign="top" width="144">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">inactive markets</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 94.5pt; padding-top: 0in;" valign="top" width="126">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">observable</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 81pt; padding-top: 0in;" valign="top" width="108">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">unobservable</font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 2.25in; padding-top: 0in;" valign="top" width="216">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 63pt; padding-top: 0in;" valign="top" width="84">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 1.5in; padding-top: 0in;" valign="top" width="144">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">for identical assets</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 94.5pt; padding-top: 0in;" valign="top" width="126">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">inputs</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 81pt; padding-top: 0in;" valign="top" width="108">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">inputs</font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 2.25in; padding-top: 0in;" valign="top" width="216">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; border-bottom: black 1px solid; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Description</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 63pt; padding-top: 0in;" valign="top" width="84">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; border-bottom: black 1px solid; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Total</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 1.5in; padding-top: 0in;" valign="top" width="144">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; border-bottom: black 1px solid; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">(Level1)</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 94.5pt; padding-top: 0in;" valign="top" width="126">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; border-bottom: black 1px solid; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">(Level2)</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 81pt; padding-top: 0in;" valign="top" width="108">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; border-bottom: black 1px solid; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">(Level3)</font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 2.25in; padding-top: 0in;" valign="top" width="216">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 63pt; padding-top: 0in;" valign="top" width="84">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 283.5pt; padding-top: 0in;" valign="top" width="378" colspan="3">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Amounts in millions</font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 2.25in; padding-top: 0in;" valign="top" width="216">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 8pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 63pt; padding-top: 0in;" valign="top" width="84">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 8pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 1.5in; padding-top: 0in;" valign="top" width="144">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 8.1pt; line-height: 8pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 94.5pt; padding-top: 0in;" valign="top" width="126">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 8pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 81pt; padding-top: 0in;" valign="top" width="108">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 8pt; font-family: Courier;"> </p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 2.25in; padding-top: 0in;" valign="top" width="216">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Available-for-sale securities</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 63pt; padding-top: 0in;" valign="top" width="84">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">$<font
class="_mt"> </font>4,313</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 1.5in; padding-top: 0in;" valign="top" width="144">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 8.1pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">3,934</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 94.5pt; padding-top: 0in;" valign="top" width="126">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">379</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 81pt; padding-top: 0in;" valign="top" width="108">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">--</font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 2.25in; padding-top: 0in;" valign="top" width="216">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Financial instrument assets</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 63pt; padding-top: 0in;" valign="top" width="84">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">$<font
class="_mt"> </font><font
class="_mt"> </font>340</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 1.5in; padding-top: 0in;" valign="top" width="144">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 8.1pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">--</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 94.5pt; padding-top: 0in;" valign="top" width="126">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">340</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 81pt; padding-top: 0in;" valign="top" width="108">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">--</font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 2.25in; padding-top: 0in;" valign="top" width="216">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 12.6pt; text-indent: -12.6pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Financial instrument liabilities</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 63pt; padding-top: 0in;" valign="top" width="84">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">$<font
class="_mt"> </font>1,106</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 1.5in; padding-top: 0in;" valign="top" width="144">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 8.1pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">913</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 94.5pt; padding-top: 0in;" valign="top" width="126">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">193</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 81pt; padding-top: 0in;" valign="top" width="108">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">--</font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 2.25in; padding-top: 0in;" valign="top" width="216">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Debt</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 63pt; padding-top: 0in;" valign="top" width="84">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">$<font
class="_mt"> </font>2,322</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 1.5in; padding-top: 0in;" valign="top" width="144">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 8.1pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">--</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 94.5pt; padding-top: 0in;" valign="top" width="126">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">2,322</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 81pt; padding-top: 0in;" valign="top" width="108">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">--</font></p></td></tr></table>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0.5in; text-indent: -0.5in; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font> </p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">The Company uses the Black-Scholes Model to estimate fair value for the majority of its Level 2 financial instrument assets and liabilities using observable inputs such as exchange-traded equity prices, risk-free interest rates, dividend yields and volatilities obtained from pricing services.<font
class="_mt"> </font>For the Company's debt instruments reported at fair value, the Company gets quoted market prices from pricing services or from evidence of observable inputs, some of which may be obtained using third-party brokers.<font
class="_mt"> </font>However, the Company does not believe such instruments are traded on "active markets," as defined in GAAP.<font
class="_mt"> </font>Accordingly, the debt instruments are reported in the foregoing table as Level 2 fair value.</font></p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font> </p>
<p
class="MsoBodyText"
style="font-size: 11pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: 'Bookman Old Style','serif'; text-align: justify;"><font
class="_mt"
style="font-size: 9pt;">The Company incorporates a credit risk valuation adjustment in its fair value measurements to estimate the impact of both its own nonperformance risk and the nonperformance risk of its counterparties.<font
class="_mt"> </font>The Company estimates credit risk associated with its and its counterparties nonperformance primarily by using observable credit default swap rates for terms similar to those of the remaining life of the instrument, adjusted for any master netting arrangements or other factors that provide an estimate of nonperformance risk.<font
class="_mt"> </font>These are Level 3 inputs.<font
class="_mt"> </font>However, as the credit risk valuation adjustments were not significant, the Company continues to report its equity collars, interest rate swaps and put options as Level 2.</font></p></div> </div>
3027000000
2915000000
176000000
2000000
2737000000
-264000000
-199000000
7000000
-72000000
167000000
143000000
-1000000
25000000
-2000000
-2000000
363000000
-1000000
364000000
-2000000
-2000000
363000000
-1000000
364000000
6225000000
6192000000
200000000
133000000
5859000000
<div> <div>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><b><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">(9)<font
class="_mt"> </font><u>Intangible Assets</u></font></b></p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><u><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Goodwill</font></u><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font></p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Changes in the carrying amount of goodwill are as follows:</font></p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font> </p>
<table
class="MsoNormalTable"
style="font-size: 10pt; font-family: 'Times New Roman','serif'; border-collapse: collapse;" cellspacing="0" cellpadding="0" width="565" border="0">
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 189.9pt; padding-top: 0in;" valign="top" width="253">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0.5in; line-height: 10.8pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 0.75in; padding-top: 0in;" valign="top" width="72">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: center;" align="center"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 81pt; padding-top: 0in;" valign="top" width="108">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>Starz<font
class="_mt"> </font></font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 0.75in; padding-top: 0in;" valign="top" width="72">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: center;" align="center"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 45pt; padding-top: 0in;" valign="top" width="60">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: center;" align="center"> </p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 189.9pt; padding-top: 0in;" valign="top" width="253">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0.5in; line-height: 10.8pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 0.75in; padding-top: 0in;" valign="top" width="72">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; border-bottom: black 1px solid; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>QVC<font
class="_mt"> </font></font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 81pt; padding-top: 0in;" valign="top" width="108">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font><u>Entertainment<font
class="_mt"> </font></u></font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 0.75in; padding-top: 0in;" valign="top" width="72">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; border-bottom: black 1px solid; font-family: Courier; text-align: center;" align="center"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Other</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 45pt; padding-top: 0in;" valign="top" width="60">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; border-bottom: black 1px solid; font-family: Courier; text-align: center;" align="center"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Total</font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 189.9pt; padding-top: 0in;" valign="top" width="253">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0.5in; line-height: 10.8pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 3.25in; padding-top: 0in;" valign="top" width="312" colspan="4">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: center;" align="center"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">amounts in millions</font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 189.9pt; padding-top: 0in;" valign="top" width="253">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0.5in; line-height: 9pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 0.75in; padding-top: 0in;" valign="top" width="72">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 9pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 81pt; padding-top: 0in;" valign="top" width="108">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 9pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 0.75in; padding-top: 0in;" valign="top" width="72">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 9pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 45pt; padding-top: 0in;" valign="top" width="60">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 9pt; font-family: Courier;"> </p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 189.9pt; padding-top: 0in;" valign="top" width="253">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0.5in; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Balance at January 1, 2010</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 0.75in; padding-top: 0in;" valign="bottom" width="72">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">$<font
class="_mt"> </font>5,395</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 81pt; padding-top: 0in;" valign="bottom" width="108">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 12.6pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">132</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 0.75in; padding-top: 0in;" valign="bottom" width="72">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">698</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 45pt; padding-top: 0in;" valign="bottom" width="60">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">6,225</font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 189.9pt; padding-top: 0in;" valign="top" width="253">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 63pt; text-indent: -27pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>Foreign currency translation adjustments</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 0.75in; padding-top: 0in;" valign="bottom" width="72">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">(32)</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 81pt; padding-top: 0in;" valign="bottom" width="108">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 12.6pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">--</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 0.75in; padding-top: 0in;" valign="bottom" width="72">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">--</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 45pt; padding-top: 0in;" valign="bottom" width="60">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">(32)</font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 189.9pt; padding-top: 0in;" valign="top" width="253">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 63pt; text-indent: -27pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>Other</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 0.75in; padding-top: 0in;" valign="bottom" width="72">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; border-bottom: black 1px solid; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">--</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 81pt; padding-top: 0in;" valign="bottom" width="108">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 12.6pt; line-height: 10.8pt; border-bottom: black 1px solid; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">--</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 0.75in; padding-top: 0in;" valign="bottom" width="72">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; border-bottom: black 1px solid; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">(1</font><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">)</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 45pt; padding-top: 0in;" valign="bottom" width="60">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; border-bottom: black 1px solid; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">(1</font><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">)</font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 189.9pt; padding-top: 0in;" valign="top" width="253">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0.5in; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Balance at March 31, 2010</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 0.75in; padding-top: 0in;" valign="bottom" width="72">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; border-bottom: black 3px double; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">$<font
class="_mt"> </font>5,363</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 81pt; padding-top: 0in;" valign="bottom" width="108">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 12.6pt; line-height: 10.8pt; border-bottom: black 3px double; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">132</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 0.75in; padding-top: 0in;" valign="bottom" width="72">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; border-bottom: black 3px double; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">697</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 45pt; padding-top: 0in;" valign="bottom" width="60">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; border-bottom: black 3px double; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">6,192</font></p></td></tr></table>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><u><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"
style="text-decoration: none;"> </font></font></u> </p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><u><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Intangible Assets Subject to Amortization</font></u><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font></p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font> </p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Amortization expense for intangible assets with finite useful lives was $116 million and $124 million for the three months ended March 31, 2010 and 2009, respectively.<font
class="_mt"> </font>Based on its amortizable intangible assets as of March 31, 2010, Liberty expects that amortization expense will be as follows for the next five years (amounts in millions):</font></p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font> </p>
<table
class="MsoNormalTable"
style="font-size: 10pt; margin-left: 90.9pt; font-family: 'Times New Roman','serif'; border-collapse: collapse;" cellspacing="0" cellpadding="0" width="426" border="0">
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 99pt; padding-top: 0in;" valign="top" width="132">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Remainder of 2010</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 220.5pt; padding-top: 0in;" valign="top" width="294">
<p
class="MsoFootnoteText"
style="font-size: 10pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">$<font
class="_mt"> </font>362</font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 99pt; padding-top: 0in;" valign="top" width="132">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">2011</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 220.5pt; padding-top: 0in;" valign="top" width="294">
<p
class="MsoFootnoteText"
style="font-size: 10pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">$<font
class="_mt"> </font>444</font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 99pt; padding-top: 0in;" valign="top" width="132">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">2012</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 220.5pt; padding-top: 0in;" valign="top" width="294">
<p
class="MsoFootnoteText"
style="font-size: 10pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">$<font
class="_mt"> </font>406</font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 99pt; padding-top: 0in;" valign="top" width="132">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">2013</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 220.5pt; padding-top: 0in;" valign="top" width="294">
<p
class="MsoFootnoteText"
style="font-size: 10pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">$<font
class="_mt"> </font>370</font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 99pt; padding-top: 0in;" valign="top" width="132">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">2014</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 220.5pt; padding-top: 0in;" valign="top" width="294">
<p
class="MsoFootnoteText"
style="font-size: 10pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">$<font
class="_mt"> </font>353</font></p></td></tr></table>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font> </p></div> </div>
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<div> <div>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><b><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">(1)<font
class="_mt"> </font><u>Basis of Presentation</u> </font></b></p>
<p
class="MsoBodyText"
style="font-size: 11pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: 'Bookman Old Style','serif'; text-align: justify;"><font
class="_mt"
style="font-size: 9pt;">The accompanying condensed consolidated financial statements include the accounts of Liberty Media Corporation and its controlled subsidiaries (collectively, "Liberty" or the "Company" unless the context otherwise requires).<font
class="_mt"> </font>All significant intercompany accounts and transactions have been eliminated in consolidation.<font
class="_mt"> </font></font></p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font> </p>
<p
class="MsoBodyText"
style="font-size: 11pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: 'Bookman Old Style','serif'; text-align: justify;"><font
class="_mt"
style="font-size: 9pt;">Liberty</font><font
class="_mt"
style="font-size: 9pt;">, through its ownership of interests in subsidiaries and other companies, is primarily engaged in the video and on-line commerce, media, communications and entertainment industries in North America, Europe and Asia.</font></p>
<p
class="MsoBodyText"
style="font-size: 11pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: 'Bookman Old Style','serif'; text-align: justify;"><font
class="_mt"
style="font-size: 9pt;"> </font> </p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">The accompanying interim unaudited condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles ("GAAP") for interim financial information and the instructions to Form 10-Q and Article 10 of Regulation S-X as promulgated by the Securities and Exchange Commission.<font
class="_mt"> </font>Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements.<font
class="_mt"> </font>In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation of the results for such periods have been included.<font
class="_mt"> </font>The results of operations for any interim period are not necessarily indicative of results for the full year.<font
class="_mt"> </font>These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto contained in Liberty's Annual Report on Form 10‑K for the year ended December 31, 2009.</font></p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font> </p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period.<font
class="_mt"> </font>Actual results could differ from those estimates.<font
class="_mt"> </font>Liberty considers (i) fair value measurement, (ii) accounting for income taxes, (iii) assessments of other-than-temporary declines in fair value of its investments and (iv) estimates of retail-related adjustments and allowances to be its most significant estimates. </font></p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font> </p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Liberty</font><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> holds investments that are accounted for using the equity method.<font
class="_mt"> </font>Liberty does not control the decision making process or business management practices of these affiliates.<font
class="_mt"> </font>Accordingly, Liberty relies on management of these affiliates to provide it with accurate financial information prepared in accordance with GAAP that Liberty uses in the application of the equity method.<font
class="_mt"> </font>In addition, Liberty relies on audit reports that are provided by the affiliates' independent auditors on the financial statements of such affiliates.<font
class="_mt"> </font>The Company is not aware, however, of any errors in or possible misstatements of the financial information provided by its equity affiliates that would have a material effect on Liberty's condensed consolidated financial statements.</font></p></div> </div>
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<div> <div>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><b><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">(12)<font
class="_mt"> </font><u>Transactions with Related Parties </u></font></b></p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">As discussed in note 2, Liberty previously held an investment in DIRECTV.<font
class="_mt"> </font>During the three months ended March 31, 2009, subsidiaries of Liberty recognized aggregate revenue of $75 million from DIRECTV for distribution of their programming.<font
class="_mt"> </font>In addition, subsidiaries of Liberty made aggregate payments of $8 million to DIRECTV for carriage and marketing.</font></p></div> </div>
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<div> <div>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><b><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">8)<font
class="_mt"> </font><u>Financial Instruments</u></font></b></p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><b><i><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Equity Collars</font></i></b><b><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font></b></p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">The Company has entered into equity collars and other financial instruments to manage market risk associated with its investments in certain marketable securities.<font
class="_mt"> </font>These instruments are recorded at fair value based on option pricing models.<font
class="_mt"> </font>Equity collars provide the Company with a put option that gives the Company the right to require the counterparty to purchase a specified number of shares of the underlying security at a specified price at a specified date in the future.<font
class="_mt"> </font>Equity collars also provide the counterparty with a call option that gives the counterparty the right to purchase the same securities at a specified price at a specified date in the future.<font
class="_mt"> </font>The put option and the call option generally have equal fair values at the time of origination resulting in no cash receipts or payments.</font></p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font> </p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><b><i><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Borrowed Shares</font></i></b></p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">From time to time and in connection with certain of its derivative instruments, Liberty borrows shares of the underlying securities from a counterparty and delivers these borrowed shares in settlement of maturing derivative positions.<font
class="_mt"> </font>In these transactions, a similar number of shares that are owned by Liberty have been posted as collateral with the counterparty.<font
class="_mt"> </font>These share borrowing arrangements can be terminated at any time at Liberty's option by delivering shares to the counterparty.<font
class="_mt"> </font>The counterparty can terminate these arrangements at any time. The liability under these share borrowing arrangements is marked to market each reporting period with changes in value recorded in unrealized gains or losses in the consolidated statement of operations.<font
class="_mt"> </font>The shares posted as collateral under these arrangements are marked to market each reporting period with changes in value recorded as unrealized gains or losses in the consolidated statement of operations.</font></p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font> </p><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><br /></font>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: normal; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font> </p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">The Company's financial instruments are summarized as follows:</font></p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0.5in; text-indent: -0.5in; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font> </p>
<table
class="MsoNormalTable"
style="font-size: 10pt; margin-left: 41.4pt; font-family: 'Times New Roman','serif'; border-collapse: collapse;" cellspacing="0" cellpadding="0" width="561" border="0">
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 256.5pt; padding-top: 0in;" valign="bottom" width="342">
<p
class="MsoFootnoteText"
style="font-size: 10pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>Type of<font
class="_mt"> </font></font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 81pt; padding-top: 0in;" valign="bottom" width="108">
<p
class="MsoFootnoteText"
style="font-size: 10pt; margin: 0in 0in 0pt 0px; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>March 31,</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 83.25pt; padding-top: 0in;" valign="bottom" width="111" colspan="2">
<p
class="MsoFootnoteText"
style="font-size: 10pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>December 31,<font
class="_mt"> </font></font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 256.5pt; padding-top: 0in;" valign="bottom" width="342">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; border-bottom: black 1px solid; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>financial instrument<font
class="_mt"> </font></font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 81pt; padding-top: 0in;" valign="bottom" width="108">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0px; line-height: 10.8pt; border-bottom: black 1px solid; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>2010<font
class="_mt"> </font></font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 81pt; padding-top: 0in;" valign="bottom" width="108">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; border-bottom: black 1px solid; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>2009<font
class="_mt"> </font></font></p></td>
<td
style="border-right: medium none; padding-right: 0in; border-top: medium none; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: medium none;" width="3">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0pt 0in 0pt; line-height: 12pt; font-family: Courier;"> </p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 256.5pt; padding-top: 0in;" valign="bottom" width="342">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 2.25in; padding-top: 0in;" valign="bottom" width="216" colspan="2">
<p
class="MsoFootnoteText"
style="font-size: 10pt; margin: 0in 0in 0pt 0px; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>amounts in millions<font
class="_mt"> </font></font></p></td>
<td
style="border-right: medium none; padding-right: 0in; border-top: medium none; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: medium none;" width="3">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0pt 0in 0pt; line-height: 12pt; font-family: Courier;"> </p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 256.5pt; padding-top: 0in;" valign="bottom" width="342">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; border-bottom: black 1px solid; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Assets</font><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 81pt; padding-top: 0in;" valign="bottom" width="108">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 81pt; padding-top: 0in;" valign="bottom" width="108">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier;"> </p></td>
<td
style="border-right: medium none; padding-right: 0in; border-top: medium none; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: medium none;" width="3">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0pt 0in 0pt; line-height: 12pt; font-family: Courier;"> </p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 256.5pt; padding-top: 0in;" valign="bottom" width="342">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>Equity collars (1)</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 81pt; padding-top: 0in;" valign="bottom" width="108">
<p
class="MsoFootnoteText"
style="font-size: 10pt; margin: 0in 0in 0pt 0.05in; line-height: 10.8pt; border-bottom: black 1px solid; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">$<font
class="_mt"> </font>340</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 81pt; padding-top: 0in;" valign="bottom" width="108">
<p
class="MsoFootnoteText"
style="font-size: 10pt; margin: 0in 0in 0pt; line-height: 10.8pt; border-bottom: black 1px solid; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>752</font></p></td>
<td
style="border-right: medium none; padding-right: 0in; border-top: medium none; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: medium none;" width="3">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0pt 0in 0pt; line-height: 12pt; font-family: Courier;"> </p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 256.5pt; padding-top: 0in;" valign="bottom" width="342">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 81pt; padding-top: 0in;" valign="bottom" width="108">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0.05in; line-height: 10.8pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 81pt; padding-top: 0in;" valign="bottom" width="108">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier;"> </p></td>
<td
style="border-right: medium none; padding-right: 0in; border-top: medium none; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: medium none;" width="3">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0pt 0in 0pt; line-height: 12pt; font-family: Courier;"> </p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 256.5pt; padding-top: 0in;" valign="bottom" width="342">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; border-bottom: black 1px solid; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Liabilities</font><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 81pt; padding-top: 0in;" valign="bottom" width="108">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0.05in; line-height: 10.8pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 81pt; padding-top: 0in;" valign="bottom" width="108">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier;"> </p></td>
<td
style="border-right: medium none; padding-right: 0in; border-top: medium none; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: medium none;" width="3">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0pt 0in 0pt; line-height: 12pt; font-family: Courier;"> </p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 256.5pt; padding-top: 0in;" valign="bottom" width="342">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>Borrowed shares (2)</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 81pt; padding-top: 0in;" valign="bottom" width="108">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0.05in; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">$<font
class="_mt"> </font>913</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 81pt; padding-top: 0in;" valign="bottom" width="108">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>851</font></p></td>
<td
style="border-right: medium none; padding-right: 0in; border-top: medium none; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: medium none;" width="3">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0pt 0in 0pt; line-height: 12pt; font-family: Courier;"> </p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 256.5pt; padding-top: 0in;" valign="bottom" width="342">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>Other</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 81pt; padding-top: 0in;" valign="bottom" width="108">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0.05in; line-height: 10.8pt; border-bottom: black 1px solid; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>193</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 81pt; padding-top: 0in;" valign="bottom" width="108">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; border-bottom: black 1px solid; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>283</font></p></td>
<td
style="border-right: medium none; padding-right: 0in; border-top: medium none; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: medium none;" width="3">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0pt 0in 0pt; line-height: 12pt; font-family: Courier;"> </p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 256.5pt; padding-top: 0in;" valign="bottom" width="342">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 17.1pt; line-height: 10.8pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 81pt; padding-top: 0in;" valign="bottom" width="108">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0.05in; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>1,106</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 81pt; padding-top: 0in;" valign="bottom" width="108">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>1,134</font></p></td>
<td
style="border-right: medium none; padding-right: 0in; border-top: medium none; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: medium none;" width="3">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0pt 0in 0pt; line-height: 12pt; font-family: Courier;"> </p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 256.5pt; padding-top: 0in;" valign="bottom" width="342">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 17.1pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Less current portion</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 81pt; padding-top: 0in;" valign="bottom" width="108">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0.05in; line-height: 10.8pt; border-bottom: black 1px solid; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>(1,068</font><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">)</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 81pt; padding-top: 0in;" valign="bottom" width="108">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; border-bottom: black 1px solid; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>(1,002</font><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">)</font></p></td>
<td
style="border-right: medium none; padding-right: 0in; border-top: medium none; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: medium none;" width="3">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0pt 0in 0pt; line-height: 12pt; font-family: Courier;"> </p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 256.5pt; padding-top: 0in;" valign="bottom" width="342">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 81pt; padding-top: 0in;" valign="bottom" width="108">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0.05in; line-height: 10.8pt; border-bottom: black 3px double; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">$<font
class="_mt"> </font>38</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 81pt; padding-top: 0in;" valign="bottom" width="108">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; border-bottom: black 3px double; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>132</font></p></td>
<td
style="border-right: medium none; padding-right: 0in; border-top: medium none; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: medium none;" width="3">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0pt 0in 0pt; line-height: 12pt; font-family: Courier;"> </p></td></tr></table>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0.5in; text-indent: -0.5in; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font> </p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0.5in; text-indent: -0.5in; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font><u><font
class="_mt"> </font></u></font></p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 67.5pt; text-indent: -31.5pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">(1)<font
class="_mt"> </font>Represents the Company's Sprint equity collars at March 31, 2010 which mature in the current year.<font
class="_mt"> </font>The Company has made borrowings against substantially all of the future cash proceeds to be received by the Company upon expiration of these equity collars.</font></p>
<p
class="MsoBodyTextIndent"
style="font-size: 11pt; margin: 0in 0in 0pt; text-indent: 0in; line-height: 10.8pt; font-family: 'Bookman Old Style','serif'; text-align: justify;"><b><i><font
class="_mt"
style="font-size: 9pt;"> </font></i></b> </p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 67.5pt; text-indent: -67.5pt; line-height: normal; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>(2)<font
class="_mt"> </font>The market values of borrowed shares are as follows:</font></p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: normal; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font> </p>
<table
class="MsoNormalTable"
style="font-size: 10pt; margin-left: 41.4pt; font-family: 'Times New Roman','serif'; border-collapse: collapse;" cellspacing="0" cellpadding="0" width="561" border="0">
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 256.5pt; padding-top: 0in;" valign="bottom" width="342">
<p
class="MsoFootnoteText"
style="font-size: 10pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 81pt; padding-top: 0in;" valign="bottom" width="108">
<p
class="MsoFootnoteText"
style="font-size: 10pt; margin: 0in 0in 0pt 0px; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>March 31,</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 83.25pt; padding-top: 0in;" valign="bottom" width="111" colspan="2">
<p
class="MsoFootnoteText"
style="font-size: 10pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>December 31,<font
class="_mt"> </font></font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 256.5pt; padding-top: 0in;" valign="bottom" width="342">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 81pt; padding-top: 0in;" valign="bottom" width="108">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0px; line-height: 10.8pt; border-bottom: black 1px solid; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>2010<font
class="_mt"> </font></font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 81pt; padding-top: 0in;" valign="bottom" width="108">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; border-bottom: black 1px solid; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>2009<font
class="_mt"> </font></font></p></td>
<td
style="border-right: medium none; padding-right: 0in; border-top: medium none; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: medium none;" width="3">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0pt 0in 0pt; line-height: 12pt; font-family: Courier;"> </p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 256.5pt; padding-top: 0in;" valign="bottom" width="342">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 2.25in; padding-top: 0in;" valign="bottom" width="216" colspan="2">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: center;" align="center"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">amounts in millions</font></p></td>
<td
style="border-right: medium none; padding-right: 0in; border-top: medium none; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: medium none;" width="3">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0pt 0in 0pt; line-height: 12pt; font-family: Courier;"> </p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 256.5pt; padding-top: 0in;" valign="bottom" width="342">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 81pt; padding-top: 0in;" valign="bottom" width="108">
<p
class="MsoFootnoteText"
style="font-size: 10pt; margin: 0in 0in 0pt 0.05in; line-height: 10.8pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 81pt; padding-top: 0in;" valign="bottom" width="108">
<p
class="MsoFootnoteText"
style="font-size: 10pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier;"> </p></td>
<td
style="border-right: medium none; padding-right: 0in; border-top: medium none; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: medium none;" width="3">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0pt 0in 0pt; line-height: 12pt; font-family: Courier;"> </p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 256.5pt; padding-top: 0in;" valign="bottom" width="342">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Time Warner</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 81pt; padding-top: 0in;" valign="bottom" width="108">
<p
class="MsoFootnoteText"
style="font-size: 10pt; margin: 0in 0in 0pt 0.05in; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">$<font
class="_mt"> </font>95</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 81pt; padding-top: 0in;" valign="bottom" width="108">
<p
class="MsoFootnoteText"
style="font-size: 10pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>88</font></p></td>
<td
style="border-right: medium none; padding-right: 0in; border-top: medium none; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: medium none;" width="3">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0pt 0in 0pt; line-height: 12pt; font-family: Courier;"> </p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 256.5pt; padding-top: 0in;" valign="bottom" width="342">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Time Warner Cable</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 81pt; padding-top: 0in;" valign="bottom" width="108">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0.05in; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>40</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 81pt; padding-top: 0in;" valign="bottom" width="108">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>31</font></p></td>
<td
style="border-right: medium none; padding-right: 0in; border-top: medium none; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: medium none;" width="3">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0pt 0in 0pt; line-height: 12pt; font-family: Courier;"> </p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 256.5pt; padding-top: 0in;" valign="bottom" width="342">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Sprint</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 81pt; padding-top: 0in;" valign="bottom" width="108">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0.05in; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>167</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 81pt; padding-top: 0in;" valign="bottom" width="108">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>125</font></p></td>
<td
style="border-right: medium none; padding-right: 0in; border-top: medium none; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: medium none;" width="3">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0pt 0in 0pt; line-height: 12pt; font-family: Courier;"> </p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 256.5pt; padding-top: 0in;" valign="bottom" width="342">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Motorola</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 81pt; padding-top: 0in;" valign="bottom" width="108">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0.05in; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>364</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 81pt; padding-top: 0in;" valign="bottom" width="108">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>403</font></p></td>
<td
style="border-right: medium none; padding-right: 0in; border-top: medium none; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: medium none;" width="3">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0pt 0in 0pt; line-height: 12pt; font-family: Courier;"> </p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 256.5pt; padding-top: 0in;" valign="bottom" width="342">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">CenturyTel</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 81pt; padding-top: 0in;" valign="bottom" width="108">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0.05in; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>107</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 81pt; padding-top: 0in;" valign="bottom" width="108">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>84</font></p></td>
<td
style="border-right: medium none; padding-right: 0in; border-top: medium none; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: medium none;" width="3">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0pt 0in 0pt; line-height: 12pt; font-family: Courier;"> </p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 256.5pt; padding-top: 0in;" valign="bottom" width="342">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Other</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 81pt; padding-top: 0in;" valign="bottom" width="108">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0.05in; line-height: 10.8pt; border-bottom: black 1px solid; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>140</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 81pt; padding-top: 0in;" valign="bottom" width="108">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; border-bottom: black 1px solid; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>120</font></p></td>
<td
style="border-right: medium none; padding-right: 0in; border-top: medium none; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: medium none;" width="3">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0pt 0in 0pt; line-height: 12pt; font-family: Courier;"> </p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 256.5pt; padding-top: 0in;" valign="bottom" width="342">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 81pt; padding-top: 0in;" valign="bottom" width="108">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0.05in; line-height: 10.8pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 81pt; padding-top: 0in;" valign="bottom" width="108">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier;"> </p></td>
<td
style="border-right: medium none; padding-right: 0in; border-top: medium none; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: medium none;" width="3">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0pt 0in 0pt; line-height: 12pt; font-family: Courier;"> </p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 256.5pt; padding-top: 0in;" valign="bottom" width="342">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 81pt; padding-top: 0in;" valign="bottom" width="108">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0.05in; line-height: 10.8pt; border-bottom: black 3px double; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">$<font
class="_mt"> </font>913</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 81pt; padding-top: 0in;" valign="bottom" width="108">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; border-bottom: black 3px double; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>851</font></p></td>
<td
style="border-right: medium none; padding-right: 0in; border-top: medium none; padding-left: 0in; padding-bottom: 0in; border-left: medium none; padding-top: 0in; border-bottom: medium none;" width="3">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0pt 0in 0pt; line-height: 12pt; font-family: Courier;"> </p></td></tr></table>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: normal; font-family: Courier;"><b><i><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font></i></b> </p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: normal; font-family: Courier;"><b><i><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Realized and Unrealized Gains (Losses) on Financial Instruments</font></i></b><b><i><font
class="_mt"
style="font-size: 9pt;"> </font></i></b></p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Realized and unrealized gains (losses) on financial instruments are comprised of changes in the fair value of the following:</font></p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0.5in; text-indent: -0.5in; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font> </p>
<table
class="MsoNormalTable"
style="font-size: 10pt; margin-left: 0.9pt; font-family: 'Times New Roman','serif'; border-collapse: collapse;" cellspacing="0" cellpadding="0" width="606" border="0">
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 297pt; padding-top: 0in;" valign="top" width="396">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 30.6pt; text-indent: -13.5pt; line-height: 10.8pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 157.5pt; padding-top: 0in;" valign="top" width="210" colspan="2">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 12.6pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>Three months ended<font
class="_mt"> </font></font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 297pt; padding-top: 0in;" valign="top" width="396">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 30.6pt; text-indent: -13.5pt; line-height: 10.8pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 157.5pt; padding-top: 0in;" valign="top" width="210" colspan="2">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 12.6pt; line-height: 10.8pt; border-bottom: black 1px solid; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>March 31,<font
class="_mt"> </font></font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 297pt; padding-top: 0in;" valign="top" width="396">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 30.6pt; text-indent: -13.5pt; line-height: 10.8pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 81pt; padding-top: 0in;" valign="top" width="108">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 12.6pt; line-height: 10.8pt; border-bottom: black 1px solid; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>2010<font
class="_mt"> </font></font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 76.5pt; padding-top: 0in;" valign="top" width="102">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 12.6pt; line-height: 10.8pt; border-bottom: black 1px solid; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>2009<font
class="_mt"> </font></font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 297pt; padding-top: 0in;" valign="top" width="396">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 30.6pt; text-indent: -13.5pt; line-height: 10.8pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 157.5pt; padding-top: 0in;" valign="top" width="210" colspan="2">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 12.6pt; line-height: 10.8pt; font-family: Courier; text-align: center;" align="center"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">amounts in millions</font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 297pt; padding-top: 0in;" valign="top" width="396">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 30.6pt; text-indent: -13.5pt; line-height: 10.8pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 81pt; padding-top: 0in;" valign="bottom" width="108">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 12.6pt; line-height: 10.8pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 76.5pt; padding-top: 0in;" valign="bottom" width="102">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 12.6pt; line-height: 10.8pt; font-family: Courier;"> </p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 297pt; padding-top: 0in;" valign="top" width="396">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 30.6pt; text-indent: -13.5pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Non-strategic Securities </font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 81pt; padding-top: 0in;" valign="bottom" width="108">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 12.6pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">$<font
class="_mt"> </font>209</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 76.5pt; padding-top: 0in;" valign="bottom" width="102">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 12.6pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>10</font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 297pt; padding-top: 0in;" valign="top" width="396">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 30.6pt; text-indent: -13.5pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Exchangeable senior debentures </font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 81pt; padding-top: 0in;" valign="bottom" width="108">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 12.6pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>(70)</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 76.5pt; padding-top: 0in;" valign="bottom" width="102">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 12.6pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>(235)</font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 297pt; padding-top: 0in;" valign="top" width="396">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 30.6pt; text-indent: -13.5pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Equity collars</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 81pt; padding-top: 0in;" valign="bottom" width="108">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 12.6pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>2</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 76.5pt; padding-top: 0in;" valign="bottom" width="102">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 12.6pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>(70)</font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 297pt; padding-top: 0in;" valign="top" width="396">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 30.6pt; text-indent: -13.5pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Borrowed shares</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 81pt; padding-top: 0in;" valign="bottom" width="108">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 12.6pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>(3)</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 76.5pt; padding-top: 0in;" valign="bottom" width="102">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 12.6pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>5</font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 297pt; padding-top: 0in;" valign="top" width="396">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 30.6pt; text-indent: -13.5pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Other </font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 81pt; padding-top: 0in;" valign="bottom" width="108">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 12.6pt; line-height: 10.8pt; border-bottom: black 1px solid; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>29</font><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 76.5pt; padding-top: 0in;" valign="bottom" width="102">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 12.6pt; line-height: 10.8pt; border-bottom: black 1px solid; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>26</font><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 297pt; padding-top: 0in;" valign="top" width="396">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 44.1pt; text-indent: -27pt; line-height: 10.8pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 81pt; padding-top: 0in;" valign="bottom" width="108">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 12.6pt; line-height: 10.8pt; border-bottom: black 3px double; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">$<font
class="_mt"> </font>167</font><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 76.5pt; padding-top: 0in;" valign="bottom" width="102">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 12.6pt; line-height: 10.8pt; border-bottom: black 3px double; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>(264</font><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">)</font></p></td></tr></table>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><b><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font></b> </p></div> </div>
<div> <div>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><b><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">(14)<font
class="_mt"> </font><u>Information About Liberty</u></font></b><u><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">'<b>s Operating Segments</b></font></u><b><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font></b></p>
<p
class="MsoBodyText2"
style="font-size: 11pt; margin: 0in 0in 0pt; text-indent: 0in; line-height: 10.8pt; font-family: 'Bookman Old Style','serif'; text-align: justify;"><font
class="_mt"
style="font-size: 9pt;">Liberty</font><font
class="_mt"
style="font-size: 9pt;">, through its ownership interests in subsidiaries and other companies, is primarily engaged in the video and on-line commerce, media, communications and entertainment industries.<font
class="_mt"> </font>Liberty has attributed each of its businesses to one of three groups:<font
class="_mt"> </font>the Interactive Group, the Starz Group and the Capital Group.<font
class="_mt"> </font>Each of the businesses in the tracking stock groups is separately managed.<font
class="_mt"> </font>Liberty identifies its reportable segments as (A) those consolidated subsidiaries that represent 10% or more of its consolidated revenue, pre-tax earnings or total assets and (B) those equity method affiliates whose share of earnings represent 10% or more of Liberty's pre-tax earnings.<font
class="_mt"> </font>The segment presentation for prior periods has been conformed to the current period segment presentation.</font></p>
<p
class="MsoBodyText2"
style="font-size: 11pt; margin: 0in 0in 0pt 0.5in; text-indent: -0.5in; line-height: 10.8pt; font-family: 'Bookman Old Style','serif'; text-align: justify;"><font
class="_mt"
style="font-size: 9pt;"> </font> </p>
<p
class="MsoBodyText2"
style="font-size: 11pt; margin: 0in 0in 0pt; text-indent: 0in; line-height: 10.8pt; font-family: 'Bookman Old Style','serif'; text-align: justify;"><font
class="_mt"
style="font-size: 9pt;">Liberty</font><font
class="_mt"
style="font-size: 9pt;"> evaluates performance and makes decisions about allocating resources to its operating segments based on financial measures such as revenue, Adjusted OIBDA, gross margin, average sales price per unit, number of units shipped and revenue or sales per customer equivalent.<font
class="_mt"> </font>In addition, Liberty reviews nonfinancial measures such as subscriber growth, penetration, website visitors, conversion rates and active customers, as appropriate.</font></p>
<p
class="MsoBodyText2"
style="font-size: 11pt; margin: 0in 0in 0pt; text-indent: 0in; line-height: 10.8pt; font-family: 'Bookman Old Style','serif'; text-align: justify;"><font
class="_mt"
style="font-size: 9pt;"> </font> </p>
<p
class="MsoBodyText2"
style="font-size: 11pt; margin: 0in 0in 0pt; text-indent: 0in; line-height: 10.8pt; font-family: 'Bookman Old Style','serif'; text-align: justify;"><font
class="_mt"
style="font-size: 9pt;">Liberty</font><font
class="_mt"
style="font-size: 9pt;"> defines Adjusted OIBDA as revenue less cost of sales, operating expenses, and selling, general and administrative expenses (excluding stock-based compensation).<font
class="_mt"> </font>Liberty believes this measure is an important indicator of the operational strength and performance of its businesses, including each business's ability to service debt and fund capital expenditures.<font
class="_mt"> </font>In addition, this measure allows management to view operating results and perform analytical comparisons and benchmarking between businesses and identify strategies to improve performance.<font
class="_mt"> </font>This measure of performance excludes depreciation and amortization, stock-based compensation, separately reported litigation settlements and restructuring and impairment charges that are included in the measurement of operating income pursuant to GAAP.<font
class="_mt"> </font>Accordingly, Adjusted OIBDA should be considered in addition to, but not as a substitute for, operating income, net income, cash flow provided by operating activities and other measures of financial performance prepared in accordance with GAAP.<font
class="_mt"> </font>Liberty generally accounts for intersegment sales and transfers as if the sales or transfers were to third parties, that is, at current prices.</font></p>
<p
class="MsoBodyText2"
style="font-size: 11pt; margin: 0in 0in 0pt; text-indent: 0in; line-height: 10.8pt; font-family: 'Bookman Old Style','serif'; text-align: justify;"><font
class="_mt"
style="font-size: 9pt;"> </font> </p>
<p
class="MsoBodyText2"
style="font-size: 11pt; margin: 0in 0in 0pt; text-indent: 0in; line-height: 10.8pt; font-family: 'Bookman Old Style','serif'; text-align: justify;"><font
class="_mt"
style="font-size: 9pt;">For the three months ended March 31, 2010, Liberty has identified the following businesses as its reportable segments:</font></p>
<p
class="MsoBodyText2"
style="font-size: 11pt; margin: 0in 0in 0pt; text-indent: 0in; line-height: 10.8pt; font-family: 'Bookman Old Style','serif'; text-align: justify;"><font
class="_mt"
style="font-size: 9pt;"> </font> </p>
<p
class="MsoBodyText2"
style="font-size: 11pt; margin: 0in 0in 0pt 0.5in; text-indent: -0.25in; line-height: 10.8pt; font-family: 'Bookman Old Style','serif'; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: Symbol;"><font
class="_mt">·<font
class="_mt"
style="font: 7pt 'Times New Roman';"> </font></font></font><font
class="_mt"
style="font-size: 9pt;">QVC—consolidated subsidiary attributed to the Interactive Group that markets and sells a wide variety of consumer products in the United States and several foreign countries, primarily by means of televised shopping programs on the QVC networks and via the Internet through its domestic and international websites.</font></p>
<p
class="MsoBodyText2"
style="font-size: 11pt; margin: 0in 0in 0pt 0.5in; text-indent: -0.5in; line-height: 10.8pt; font-family: 'Bookman Old Style','serif'; text-align: justify;"><b><font
class="_mt"
style="font-size: 9pt;"> </font></b> </p>
<p
class="MsoBodyText2"
style="font-size: 11pt; margin: 0in 0in 0pt 0.5in; text-indent: -0.25in; line-height: 10.8pt; font-family: 'Bookman Old Style','serif'; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: Symbol;"><font
class="_mt">·<font
class="_mt"
style="font: 7pt 'Times New Roman';"> </font></font></font><font
class="_mt"
style="font-size: 9pt;">Starz Entertainment—consolidated subsidiary attributed to the Starz Group that provides premium programming distributed by cable operators, direct-to-home satellite providers, telephone companies, other distributors and the Internet throughout the United States.</font></p>
<p
class="MsoBodyText2"
style="font-size: 11pt; margin: 0in 0in 0pt 0.5in; line-height: 10.8pt; font-family: 'Bookman Old Style','serif'; text-align: justify;"><font
class="_mt"
style="font-size: 9pt;"> </font> </p>
<p
class="MsoBodyText2"
style="font-size: 11pt; margin: 0in 0in 0pt 0.5in; text-indent: -0.25in; line-height: 10.8pt; font-family: 'Bookman Old Style','serif'; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: Symbol;"><font
class="_mt">·<font
class="_mt"
style="font: 7pt 'Times New Roman';"> </font></font></font><font
class="_mt"
style="font-size: 9pt;">Starz Media––consolidated subsidiary attributed to the Capital Group that develops, acquires, produces and distributes live-action and animated films and television productions for the theatrical, home video, television and other ancillary markets in the United States and internationally.</font></p>
<p
class="MsoListParagraph"
style="font-size: 12pt; margin: 0in 0in 0pt 0.5in; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font> </p><font
class="_mt"
style="font-size: 9pt; font-family: Courier;"><br /></font>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: normal; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font> </p>
<p
class="MsoBodyText2"
style="font-size: 11pt; margin: 0in 0in 0pt; text-indent: 0in; line-height: 10.8pt; font-family: 'Bookman Old Style','serif'; text-align: justify;"><font
class="_mt"
style="font-size: 9pt;">Liberty's reportable segments are strategic business units that offer different products and services.<font
class="_mt"> </font>They are managed separately because each segment requires different technologies, distribution channels and marketing strategies.<font
class="_mt"> </font>The accounting policies of the segments that are also consolidated subsidiaries are the same as those described in the Company's summary of significant policies.</font></p>
<p
class="MsoBodyText2"
style="font-size: 11pt; margin: 0in 0in 0pt 0.5in; text-indent: -0.5in; line-height: 10.8pt; font-family: 'Bookman Old Style','serif'; text-align: justify;"><font
class="_mt"
style="font-size: 9pt;"> </font> </p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0.5in; text-indent: -0.5in; line-height: 10.8pt; font-family: Courier; text-align: justify;"><b><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Performance Measures</font></b><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font></p>
<table
class="MsoNormalTable"
style="font-size: 10pt; margin-left: 0.9pt; font-family: 'Times New Roman','serif'; border-collapse: collapse;" cellspacing="0" cellpadding="0" width="588" border="0">
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 3in; padding-top: 0in;" valign="top" width="288">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 12.6pt; line-height: 10.5pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 225pt; padding-top: 0in;" valign="top" width="300" colspan="4">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; border-bottom: black 1px solid; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>Three months ended March 31,<font
class="_mt"> </font></font><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 3in; padding-top: 0in;" valign="top" width="288">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 12.6pt; line-height: 10.5pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 112.5pt; padding-top: 0in;" valign="top" width="150" colspan="2">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; border-bottom: black 1px solid; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>2010<font
class="_mt"> </font></font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 112.5pt; padding-top: 0in;" valign="top" width="150" colspan="2">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; border-bottom: black 1px solid; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>2009<font
class="_mt"> </font></font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 3in; padding-top: 0in;" valign="top" width="288">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 12.6pt; line-height: 10.5pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 0.75in; padding-top: 0in;" valign="top" width="72">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 58.5pt; padding-top: 0in;" valign="top" width="78">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font> Adjusted <font
class="_mt"> </font></font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 0.75in; padding-top: 0in;" valign="top" width="72">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 58.5pt; padding-top: 0in;" valign="top" width="78">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>Adjusted<font
class="_mt"> </font></font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 3in; padding-top: 0in;" valign="top" width="288">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 12.6pt; line-height: 10.5pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 0.75in; padding-top: 0in;" valign="top" width="72">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; border-bottom: black 1px solid; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>Revenue<font
class="_mt"> </font></font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 58.5pt; padding-top: 0in;" valign="top" width="78">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; border-bottom: black 1px solid; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>OIBDA<font
class="_mt"> </font></font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 0.75in; padding-top: 0in;" valign="top" width="72">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; border-bottom: black 1px solid; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>Revenue<font
class="_mt"> </font></font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 58.5pt; padding-top: 0in;" valign="top" width="78">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; border-bottom: black 1px solid; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>OIBDA<font
class="_mt"> </font></font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 3in; padding-top: 0in;" valign="top" width="288">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 12.6pt; line-height: 10.5pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 225pt; padding-top: 0in;" valign="top" width="300" colspan="4">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; font-family: Courier; text-align: center;" align="center"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">amounts in millions</font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 3in; padding-top: 0in;" valign="top" width="288">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 12.6pt; line-height: 10.5pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Interactive Group</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 0.75in; padding-top: 0in;" valign="bottom" width="72">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 58.5pt; padding-top: 0in;" valign="bottom" width="78">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 0.75in; padding-top: 0in;" valign="bottom" width="72">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 58.5pt; padding-top: 0in;" valign="bottom" width="78">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; font-family: Courier;"> </p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 3in; padding-top: 0in;" valign="top" width="288">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 12.6pt; line-height: 10.5pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>QVC</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 0.75in; padding-top: 0in;" valign="bottom" width="72">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">$<font
class="_mt"> </font>1,757</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 58.5pt; padding-top: 0in;" valign="bottom" width="78">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>366</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 0.75in; padding-top: 0in;" valign="bottom" width="72">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>1,588</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 58.5pt; padding-top: 0in;" valign="bottom" width="78">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>317</font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 3in; padding-top: 0in;" valign="top" width="288">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 12.6pt; line-height: 10.5pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>Corporate and other</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 0.75in; padding-top: 0in;" valign="bottom" width="72">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; border-bottom: black 1px solid; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>268</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 58.5pt; padding-top: 0in;" valign="bottom" width="78">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; border-bottom: black 1px solid; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>15</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 0.75in; padding-top: 0in;" valign="bottom" width="72">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; border-bottom: black 1px solid; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>243</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 58.5pt; padding-top: 0in;" valign="bottom" width="78">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; border-bottom: black 1px solid; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>24</font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 3in; padding-top: 0in;" valign="top" width="288">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 12.6pt; line-height: 10.5pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 0.75in; padding-top: 0in;" valign="bottom" width="72">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; border-bottom: black 1px solid; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>2,025</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 58.5pt; padding-top: 0in;" valign="bottom" width="78">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; border-bottom: black 1px solid; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>381</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 0.75in; padding-top: 0in;" valign="bottom" width="72">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; border-bottom: black 1px solid; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>1,831</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 58.5pt; padding-top: 0in;" valign="bottom" width="78">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; border-bottom: black 1px solid; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>341</font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 3in; padding-top: 0in;" valign="top" width="288">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 12.6pt; line-height: 10.5pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Starz Group</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 0.75in; padding-top: 0in;" valign="bottom" width="72">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; font-family: Courier; text-align: right;" align="right"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 58.5pt; padding-top: 0in;" valign="bottom" width="78">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; font-family: Courier; text-align: right;" align="right"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 0.75in; padding-top: 0in;" valign="bottom" width="72">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; font-family: Courier; text-align: right;" align="right"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 58.5pt; padding-top: 0in;" valign="bottom" width="78">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; font-family: Courier; text-align: right;" align="right"> </p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 3in; padding-top: 0in;" valign="top" width="288">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 12.6pt; line-height: 10.5pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>Starz Entertainment</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 0.75in; padding-top: 0in;" valign="bottom" width="72">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>305</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 58.5pt; padding-top: 0in;" valign="bottom" width="78">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>106</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 0.75in; padding-top: 0in;" valign="bottom" width="72">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>296</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 58.5pt; padding-top: 0in;" valign="bottom" width="78">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>108</font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 3in; padding-top: 0in;" valign="top" width="288">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 12.6pt; line-height: 10.5pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>Corporate and other</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 0.75in; padding-top: 0in;" valign="bottom" width="72">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; border-bottom: black 1px solid; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>2</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 58.5pt; padding-top: 0in;" valign="bottom" width="78">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; border-bottom: black 1px solid; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>(3</font><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">)</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 0.75in; padding-top: 0in;" valign="bottom" width="72">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; border-bottom: black 1px solid; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>1</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 58.5pt; padding-top: 0in;" valign="bottom" width="78">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; border-bottom: black 1px solid; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>(4)</font><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 3in; padding-top: 0in;" valign="top" width="288">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 12.6pt; line-height: 10.5pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 0.75in; padding-top: 0in;" valign="bottom" width="72">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; border-bottom: black 1px solid; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>307</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 58.5pt; padding-top: 0in;" valign="bottom" width="78">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; border-bottom: black 1px solid; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>103</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 0.75in; padding-top: 0in;" valign="bottom" width="72">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; border-bottom: black 1px solid; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>297</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 58.5pt; padding-top: 0in;" valign="bottom" width="78">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; border-bottom: black 1px solid; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>104</font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 3in; padding-top: 0in;" valign="top" width="288">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 12.6pt; line-height: 10.5pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Capital Group</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 0.75in; padding-top: 0in;" valign="bottom" width="72">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; font-family: Courier; text-align: right;" align="right"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 58.5pt; padding-top: 0in;" valign="bottom" width="78">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; font-family: Courier; text-align: right;" align="right"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 0.75in; padding-top: 0in;" valign="bottom" width="72">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; font-family: Courier; text-align: right;" align="right"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 58.5pt; padding-top: 0in;" valign="bottom" width="78">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; font-family: Courier; text-align: right;" align="right"> </p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 3in; padding-top: 0in;" valign="top" width="288">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 12.6pt; line-height: 10.5pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>Starz Media</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 0.75in; padding-top: 0in;" valign="bottom" width="72">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>144</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 58.5pt; padding-top: 0in;" valign="bottom" width="78">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>(7)</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 0.75in; padding-top: 0in;" valign="bottom" width="72">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>102</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 58.5pt; padding-top: 0in;" valign="bottom" width="78">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>5</font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 3in; padding-top: 0in;" valign="top" width="288">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 12.6pt; line-height: 10.5pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>Corporate and other</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 0.75in; padding-top: 0in;" valign="bottom" width="72">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; border-bottom: black 1px solid; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>22</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 58.5pt; padding-top: 0in;" valign="bottom" width="78">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; border-bottom: black 1px solid; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>(36</font><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">)</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 0.75in; padding-top: 0in;" valign="bottom" width="72">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; border-bottom: black 1px solid; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>23</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 58.5pt; padding-top: 0in;" valign="bottom" width="78">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; border-bottom: black 1px solid; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>(37</font><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">)</font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 3in; padding-top: 0in;" valign="top" width="288">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 12.6pt; line-height: 10.5pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 0.75in; padding-top: 0in;" valign="bottom" width="72">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; border-bottom: black 1px solid; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>166</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 58.5pt; padding-top: 0in;" valign="bottom" width="78">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; border-bottom: black 1px solid; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>(43</font><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">)</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 0.75in; padding-top: 0in;" valign="bottom" width="72">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; border-bottom: black 1px solid; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>125</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 58.5pt; padding-top: 0in;" valign="bottom" width="78">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; border-bottom: black 1px solid; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>(32</font><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">)</font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 3in; padding-top: 0in;" valign="top" width="288">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 12.6pt; line-height: 10.5pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 0.75in; padding-top: 0in;" valign="bottom" width="72">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; font-family: Courier; text-align: right;" align="right"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 58.5pt; padding-top: 0in;" valign="bottom" width="78">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; font-family: Courier; text-align: right;" align="right"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 0.75in; padding-top: 0in;" valign="bottom" width="72">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; font-family: Courier; text-align: right;" align="right"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 58.5pt; padding-top: 0in;" valign="bottom" width="78">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; font-family: Courier; text-align: right;" align="right"> </p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 3in; padding-top: 0in;" valign="top" width="288">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 12.6pt; line-height: 10.5pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>Consolidated Liberty</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 0.75in; padding-top: 0in;" valign="bottom" width="72">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; border-bottom: black 3px double; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">$<font
class="_mt"> </font>2,498</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 58.5pt; padding-top: 0in;" valign="bottom" width="78">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; border-bottom: black 3px double; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>441</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 0.75in; padding-top: 0in;" valign="bottom" width="72">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; border-bottom: black 3px double; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>2,253</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 58.5pt; padding-top: 0in;" valign="bottom" width="78">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; border-bottom: black 3px double; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>413</font></p></td></tr></table>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: normal; font-family: Courier;"><b><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font></b> </p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><b><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Other Information</font></b></p>
<table
class="MsoNormalTable"
style="font-size: 10pt; margin-left: 0.9pt; font-family: 'Times New Roman','serif'; border-collapse: collapse;" cellspacing="0" cellpadding="0" width="546" border="0">
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 3in; padding-top: 0in;" valign="top" width="288">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 12.6pt; line-height: 10.5pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 193.5pt; padding-top: 0in;" valign="top" width="258" colspan="3">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; font-family: Courier;"> </p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 3in; padding-top: 0in;" valign="top" width="288">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 12.6pt; line-height: 10.5pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 193.5pt; padding-top: 0in;" valign="top" width="258" colspan="3">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; border-bottom: black 1px solid; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>March 31, 2010<font
class="_mt"> </font></font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 3in; padding-top: 0in;" valign="top" width="288">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 12.6pt; line-height: 10.5pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 0.75in; padding-top: 0in;" valign="top" width="72">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 67.5pt; padding-top: 0in;" valign="top" width="90">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>Investments</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="top" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; font-family: Courier;"> </p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 3in; padding-top: 0in;" valign="top" width="288">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 12.6pt; line-height: 10.5pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 0.75in; padding-top: 0in;" valign="top" width="72">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>Total<font
class="_mt"> </font></font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 67.5pt; padding-top: 0in;" valign="top" width="90">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>in<font
class="_mt"> </font></font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="top" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>Capital<font
class="_mt"> </font></font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 3in; padding-top: 0in;" valign="top" width="288">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 12.6pt; line-height: 10.5pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 0.75in; padding-top: 0in;" valign="top" width="72">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; border-bottom: black 1px solid; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>assets<font
class="_mt"> </font></font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 67.5pt; padding-top: 0in;" valign="top" width="90">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; border-bottom: black 1px solid; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>affiliates<font
class="_mt"> </font></font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="top" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; border-bottom: black 1px solid; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>expenditures</font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 3in; padding-top: 0in;" valign="top" width="288">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 12.6pt; line-height: 10.5pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 193.5pt; padding-top: 0in;" valign="top" width="258" colspan="3">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; font-family: Courier; text-align: center;" align="center"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">amounts in millions</font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 3in; padding-top: 0in;" valign="top" width="288">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 12.6pt; line-height: 10.5pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Interactive Group</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 0.75in; padding-top: 0in;" valign="top" width="72">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 67.5pt; padding-top: 0in;" valign="top" width="90">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="top" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; font-family: Courier;"> </p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 3in; padding-top: 0in;" valign="top" width="288">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 12.6pt; line-height: 10.5pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>QVC</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 0.75in; padding-top: 0in;" valign="bottom" width="72">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">$<font
class="_mt"> </font>14,562</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 67.5pt; padding-top: 0in;" valign="bottom" width="90">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>2</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="bottom" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>51</font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 3in; padding-top: 0in;" valign="top" width="288">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 12.6pt; line-height: 10.5pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>Corporate and other</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 0.75in; padding-top: 0in;" valign="bottom" width="72">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; border-bottom: black 1px solid; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>2,587</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 67.5pt; padding-top: 0in;" valign="bottom" width="90">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; border-bottom: black 1px solid; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>839</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="bottom" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; border-bottom: black 1px solid; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>8</font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 3in; padding-top: 0in;" valign="top" width="288">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 12.6pt; line-height: 10.5pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 0.75in; padding-top: 0in;" valign="bottom" width="72">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; border-bottom: black 1px solid; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>17,149</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 67.5pt; padding-top: 0in;" valign="bottom" width="90">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; border-bottom: black 1px solid; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>841</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="bottom" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; border-bottom: black 1px solid; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>59</font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 3in; padding-top: 0in;" valign="top" width="288">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 12.6pt; line-height: 10.5pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Starz Group</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 0.75in; padding-top: 0in;" valign="bottom" width="72">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; font-family: Courier; text-align: right;" align="right"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 67.5pt; padding-top: 0in;" valign="bottom" width="90">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; font-family: Courier; text-align: right;" align="right"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="bottom" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; font-family: Courier; text-align: right;" align="right"> </p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 3in; padding-top: 0in;" valign="top" width="288">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 12.6pt; line-height: 10.5pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>Starz Entertainment</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 0.75in; padding-top: 0in;" valign="bottom" width="72">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>1,677</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 67.5pt; padding-top: 0in;" valign="bottom" width="90">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>--</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="bottom" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>--</font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 3in; padding-top: 0in;" valign="top" width="288">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 12.6pt; line-height: 10.5pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>Corporate and other</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 0.75in; padding-top: 0in;" valign="bottom" width="72">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; border-bottom: black 1px solid; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>756</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 67.5pt; padding-top: 0in;" valign="bottom" width="90">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; border-bottom: black 1px solid; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>--</font><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="bottom" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; border-bottom: black 1px solid; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>--</font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 3in; padding-top: 0in;" valign="top" width="288">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 12.6pt; line-height: 10.5pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 0.75in; padding-top: 0in;" valign="bottom" width="72">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; border-bottom: black 1px solid; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>2,433</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 67.5pt; padding-top: 0in;" valign="bottom" width="90">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; border-bottom: black 1px solid; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>--</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="bottom" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; border-bottom: black 1px solid; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>--</font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 3in; padding-top: 0in;" valign="top" width="288">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 12.6pt; line-height: 10.5pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Capital Group</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 0.75in; padding-top: 0in;" valign="bottom" width="72">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; font-family: Courier; text-align: right;" align="right"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 67.5pt; padding-top: 0in;" valign="bottom" width="90">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; font-family: Courier; text-align: right;" align="right"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="bottom" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; font-family: Courier; text-align: right;" align="right"> </p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 3in; padding-top: 0in;" valign="top" width="288">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 12.6pt; line-height: 10.5pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>Starz Media</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 0.75in; padding-top: 0in;" valign="bottom" width="72">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>623</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 67.5pt; padding-top: 0in;" valign="bottom" width="90">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>--</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="bottom" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>1</font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 3in; padding-top: 0in;" valign="top" width="288">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 12.6pt; line-height: 10.5pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>Corporate and other</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 0.75in; padding-top: 0in;" valign="bottom" width="72">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; border-bottom: black 1px solid; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>8,313</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 67.5pt; padding-top: 0in;" valign="bottom" width="90">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; border-bottom: black 1px solid; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>118</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="bottom" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; border-bottom: black 1px solid; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>1</font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 3in; padding-top: 0in;" valign="top" width="288">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 12.6pt; line-height: 10.5pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 0.75in; padding-top: 0in;" valign="bottom" width="72">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; border-bottom: black 1px solid; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>8,936</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 67.5pt; padding-top: 0in;" valign="bottom" width="90">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; border-bottom: black 1px solid; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>118</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="bottom" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; border-bottom: black 1px solid; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>2</font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 3in; padding-top: 0in;" valign="top" width="288">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 12.6pt; line-height: 10.5pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 0.75in; padding-top: 0in;" valign="bottom" width="72">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; font-family: Courier; text-align: right;" align="right"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 67.5pt; padding-top: 0in;" valign="bottom" width="90">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; font-family: Courier; text-align: right;" align="right"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="bottom" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; font-family: Courier; text-align: right;" align="right"> </p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 3in; padding-top: 0in;" valign="top" width="288">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 12.6pt; line-height: 10.5pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Inter-group eliminations</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 0.75in; padding-top: 0in;" valign="bottom" width="72">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; border-bottom: black 1px solid; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>(71</font><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">)</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 67.5pt; padding-top: 0in;" valign="bottom" width="90">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; border-bottom: black 1px solid; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>--</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="bottom" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; border-bottom: black 1px solid; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>--</font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 3in; padding-top: 0in;" valign="top" width="288">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 12.6pt; line-height: 10.5pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>Consolidated Liberty</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 0.75in; padding-top: 0in;" valign="bottom" width="72">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; border-bottom: black 3px double; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">$<font
class="_mt"> </font>28,447</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 67.5pt; padding-top: 0in;" valign="bottom" width="90">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; border-bottom: black 3px double; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>959</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="bottom" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.5pt; border-bottom: black 3px double; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>61</font></p></td></tr></table>
<p
class="MsoBodyText"
style="font-size: 11pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: 'Bookman Old Style','serif'; text-align: justify;"><font
class="_mt"
style="font-size: 9pt;"> </font> </p><font
class="_mt"
style="font-size: 9pt; font-family: Courier;"><br /></font>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: normal; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font> </p>
<p
class="MsoBodyText"
style="font-size: 11pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: 'Bookman Old Style','serif'; text-align: justify;"><font
class="_mt"
style="font-size: 9pt;">The following table provides a reconciliation of segment Adjusted OIBDA to earnings (loss) from continuing operations before income taxes:</font></p>
<p
class="MsoBodyText"
style="font-size: 11pt; margin: 0in 0in 0pt 0.5in; text-indent: -0.5in; line-height: 10.8pt; font-family: 'Bookman Old Style','serif'; text-align: justify;"><font
class="_mt"
style="font-size: 9pt;"> </font> </p>
<table
class="MsoNormalTable"
style="font-size: 10pt; font-family: 'Times New Roman','serif'; border-collapse: collapse;" cellspacing="0" cellpadding="0" width="600" border="0">
<tr>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 4.25in; padding-top: 0in;" valign="top" width="408">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 2in; padding-top: 0in;" valign="top" width="192" colspan="2">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 9pt; line-height: 10pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>Three months ended</font></p></td></tr>
<tr>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 4.25in; padding-top: 0in;" valign="top" width="408">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 2in; padding-top: 0in;" valign="top" width="192" colspan="2">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 9pt; line-height: 10pt; border-bottom: black 1px solid; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>March 31,<font
class="_mt"> </font></font></p></td></tr>
<tr>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 4.25in; padding-top: 0in;" valign="top" width="408">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="top" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 9pt; line-height: 10pt; border-bottom: black 1px solid; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>2010<font
class="_mt"> </font></font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="top" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 13.5pt; line-height: 10pt; border-bottom: black 1px solid; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>2009<font
class="_mt"> </font></font></p></td></tr>
<tr>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 4.25in; padding-top: 0in;" valign="top" width="408">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0.5in; line-height: 10pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 2in; padding-top: 0in;" valign="top" width="192" colspan="2">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 9pt; line-height: 10pt; font-family: Courier; text-align: center;" align="center"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">amounts in millions</font></p></td></tr>
<tr>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 4.25in; padding-top: 0in;" valign="top" width="408">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0.75in; text-indent: -0.25in; line-height: 10pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="top" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 13.5pt; line-height: 10pt; font-family: Courier;"> </p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="top" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 13.5pt; line-height: 10pt; font-family: Courier;"> </p></td></tr>
<tr>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 4.25in; padding-top: 0in;" valign="top" width="408">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0.25in; text-indent: -0.25in; line-height: 10pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Consolidated segment Adjusted OIBDA</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="bottom" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 9pt; line-height: 10pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">$<font
class="_mt"> </font>441</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="bottom" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 13.5pt; line-height: 10pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>413</font></p></td></tr>
<tr>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 4.25in; padding-top: 0in;" valign="top" width="408">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0.25in; text-indent: -0.25in; line-height: 10pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Stock-based compensation</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="bottom" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 9pt; line-height: 10pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>(39)</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="bottom" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 13.5pt; line-height: 10pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>(28)</font></p></td></tr>
<tr
style="height: 6.75pt;">
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 4.25in; padding-top: 0in; height: 6.75pt;" valign="top" width="408">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0.25in; text-indent: -0.25in; line-height: 10pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Depreciation and amortization</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 1in; padding-top: 0in; height: 6.75pt;" valign="bottom" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 9pt; line-height: 10pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>(162)</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 1in; padding-top: 0in; height: 6.75pt;" valign="bottom" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 13.5pt; line-height: 10pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>(173)</font></p></td></tr>
<tr>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 4.25in; padding-top: 0in;" valign="top" width="408">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0.25in; text-indent: -0.25in; line-height: 10pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Interest expense</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="bottom" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 9pt; line-height: 10pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>(170)</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="bottom" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 13.5pt; line-height: 10pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>(137)</font></p></td></tr>
<tr>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 4.25in; padding-top: 0in;" valign="top" width="408">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0.25in; text-indent: -0.25in; line-height: 10pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Share of earnings (losses) of affiliates, net</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="bottom" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 9pt; line-height: 10pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>9</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="bottom" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 13.5pt; line-height: 10pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>(105)</font></p></td></tr>
<tr>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 4.25in; padding-top: 0in;" valign="top" width="408">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0.25in; text-indent: -0.25in; line-height: 10pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Realized and unrealized gains (losses) on financial instruments, net</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="bottom" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 9pt; line-height: 10pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>167</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="bottom" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 13.5pt; line-height: 10pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>(264)</font></p></td></tr>
<tr>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 4.25in; padding-top: 0in;" valign="top" width="408">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0.25in; text-indent: -0.25in; line-height: 10pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Gains (losses) on dispositions, net</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="bottom" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 9pt; line-height: 10pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>363</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="bottom" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 13.5pt; line-height: 10pt; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>(2)</font></p></td></tr>
<tr>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 4.25in; padding-top: 0in;" valign="top" width="408">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 0.25in; text-indent: -0.25in; line-height: 10pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Other, net</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="bottom" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 9pt; line-height: 10pt; border-bottom: black 1px solid; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>(2</font><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">)</font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="bottom" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 13.5pt; line-height: 10pt; border-bottom: black 1px solid; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>11</font><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font></p></td></tr>
<tr>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 4.25in; padding-top: 0in;" valign="top" width="408">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 31.5pt; text-indent: -31.5pt; line-height: 10.8pt; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>Earnings (loss) from continuing operations before income taxes </font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="bottom" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 9pt; line-height: 10.8pt; border-bottom: black 3px double; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">$<font
class="_mt"> </font>607</font><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font></p></td>
<td
style="padding-right: 0in; padding-left: 0in; padding-bottom: 0in; width: 1in; padding-top: 0in;" valign="bottom" width="96">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 13.5pt; line-height: 10.8pt; border-bottom: black 3px double; font-family: Courier; text-align: right;" align="right"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>(285</font><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">)</font></p></td></tr></table>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font> </p></div> </div>
258000000
65000000
48000000
145000000
346000000
115000000
45000000
186000000
28000000
1000000
17000000
10000000
39000000
11000000
6000000
22000000
10109000000
10432000000
2639000000
2102000000
5691000000
10238000000
352000000
8900000000
129000000
850000000
1000000
6000000
10553000000
272000000
8914000000
121000000
1239000000
1000000
6000000
<div> <div>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><b><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font></b> </p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><b><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">(11)<font
class="_mt"> </font><u>Stockholders</u></font></b><u><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">'<b> Equity</b></font></u><b><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font></b></p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">As of March 31, 2010, Liberty reserved for issuance upon exercise of outstanding stock options the following:</font></p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font> </p>
<table
class="MsoTableGrid"
style="border-right: medium none; border-top: medium none; font-size: 10pt; margin-left: 36.9pt; border-left: medium none; width: 315pt; line-height: 12pt; border-bottom: medium none; font-family: 'Times New Roman','serif'; border-collapse: collapse;" cellspacing="0" cellpadding="0" width="420" border="0">
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 159.6pt; padding-top: 0in;" valign="top" width="213">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 78.9pt; padding-top: 0in;" valign="top" width="105">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt 13.7pt; line-height: 10.8pt; border-bottom: black 1px solid; font-family: Courier;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>Series A<font
class="_mt"> </font></font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 76.5pt; padding-top: 0in;" valign="top" width="102">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; border-bottom: black 1px solid; font-family: Courier; text-align: center;" align="center"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Series B</font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 159.6pt; padding-top: 0in;" valign="top" width="213">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 155.4pt; padding-top: 0in;" valign="top" width="207" colspan="2">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: center;" align="center"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">amounts in millions</font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 159.6pt; padding-top: 0in;" valign="top" width="213">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 78.9pt; padding-top: 0in;" valign="top" width="105">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"> </p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 76.5pt; padding-top: 0in;" valign="top" width="102">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"> </p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 159.6pt; padding-top: 0in;" valign="top" width="213">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Liberty Capital common stock</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 78.9pt; padding-top: 0in;" valign="top" width="105">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>6.0</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 76.5pt; padding-top: 0in;" valign="top" width="102">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>--</font></p></td></tr>
<tr>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 159.6pt; padding-top: 0in;" valign="top" width="213">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Liberty Interactive common stock</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 78.9pt; padding-top: 0in;" valign="top" width="105">
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>49.6</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 76.5pt; padding-top: 0in;" valign="top" width="102">
<p
class="MsoNormal"
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class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>7.5</font></p></td></tr>
<tr>
<td
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<p
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class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Liberty Starz common stock</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 78.9pt; padding-top: 0in;" valign="top" width="105">
<p
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class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>3.4</font></p></td>
<td
style="padding-right: 5.4pt; padding-left: 5.4pt; padding-bottom: 0in; width: 76.5pt; padding-top: 0in;" valign="top" width="102">
<p
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class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><font
class="_mt"> </font>0.6</font></p></td></tr></table>
<p
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class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font> </p>
<p
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style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">In addition to the Series A and Series B Liberty Capital common stock, the Series A and Series B Liberty Interactive common stock and the Series A and Series B Liberty Starz common stock, there are 2.0 billion, 4.0 billion and 4.0 billion shares of Series C Liberty Capital, Series C Liberty Interactive and Series C Liberty Starz common stock, respectively, authorized for issuance.<font
class="_mt"> </font>As of March 31, 2010, no shares of any Series C common stock were issued or outstanding.</font></p>
<p
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style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font> </p>
<p
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style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">As of March 31, 2010, put options with respect to 12.6 million shares of LINTA with a weighted average put price of $17.27 remained outstanding.<font
class="_mt"> </font>Such put options expire before November 15, 2010.<font
class="_mt"> </font></font></p>
<p
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style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font> </p>
<p
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class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">The Company accounts for the foregoing put options as financial instrument liabilities due to their settlement provisions.<font
class="_mt"> </font>Accordingly, the put options are recorded in financial instrument liabilities at fair value, and changes in the fair value are included in realized and unrealized gains (losses) on financial instruments in the accompanying condensed consolidated statements of operations.</font></p></div> </div>
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<div> <div>
<div
class="Section1"
style="page: Section1;">
<p
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style="font-size: 12pt; margin: 0in 0in 0pt 0.5in; text-indent: -0.5in; line-height: 10.8pt; font-family: Courier; text-align: justify;"><b><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">(2)<font
class="_mt"> </font><u>Tracking Stocks</u></font></b></p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Tracking stock is a type of common stock that the issuing company intends to reflect or "track" the economic performance of a particular business or "group," rather than the economic performance of the company as a whole.<font
class="_mt"> </font>Liberty has three tracking stocks – Liberty Interactive common stock, Liberty Starz common stock and Liberty Capital common stock, which are intended to track and reflect the economic performance of the Interactive Group, Starz Group and Capital Group, respectively.<font
class="_mt"> </font>While the Interactive Group, the Starz Group and the Capital Group have separate collections of businesses, assets and liabilities attributed to them, no group is a separate legal entity and therefore cannot own assets, issue securities or enter into legally binding agreements.<font
class="_mt"> </font>Holders of tracking stocks have no direct claim to the group's stock or assets and are not represented by separate boards of directors.<font
class="_mt"> </font>Instead, holders of tracking stock are stockholders of the parent corporation, with a single board of directors and subject to all of the risks and liabilities of the parent corporation.</font></p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font> </p></div><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"><br /></font>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">On November 19, 2009, Liberty completed its previously announced split-off (the "Split-Off") of its wholly owned subsidiary, Liberty Entertainment, Inc. ("LEI"), and the business combination transaction among Liberty, LEI and The DIRECTV Group, Inc. ("DIRECTV") (the "DTV Business Combination").<font
class="_mt"> </font>The Split-Off was accomplished by a redemption (the "Redemption") of 90% of the outstanding shares of Liberty Entertainment common stock in exchange for all of the outstanding shares of common stock of LEI, pursuant to which, 0.9 of each outstanding share of Liberty Entertainment common stock was redeemed for 0.9 of a share of the corresponding series of common stock of LEI, with payment of cash in lieu of any fractional shares.</font></p>
<p
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style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font> </p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">LEI held Liberty's 57% interest in DIRECTV (which had a carrying value of $13,475 million at the time of the Split-Off), 100% interest in Liberty Sports Holdings, LLC, 65% interest in Game Show Network, LLC and approximately $120 million in cash and cash equivalents, and approximately $2 billion of indebtedness. All of the businesses, assets and liabilities that were attributed to the Entertainment Group and were not held by LEI have remained with Liberty and continue to be attributed to the Entertainment Group, which Liberty redesignated as the Starz Group.<font
class="_mt"> </font>The businesses that were held by LEI are accounted for as discontinued operations for periods prior to the Split-Off.</font></p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font> </p>
<p
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style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">On February 25, 2010, Liberty announced that its board of directors had resolved to effect the following changes in attribution between the Capital Group and the Interactive Group, effective immediately (the "Reattribution"):</font></p>
<p
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style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font> </p>
<p
class="MsoListParagraphCxSpFirst"
style="margin-top: 0in; line-height: 10.8pt; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: Symbol;"><font
class="_mt">·<font
class="_mt"
style="font: 7pt 'Times New Roman';"> </font></font></font><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">the change in attribution from the Interactive Group to the Capital Group of Liberty's 14.6% ownership interest in Live Nation Entertainment, Inc.;</font></p>
<p
class="MsoListParagraphCxSpMiddle"
style="margin-top: 0in; line-height: 10.8pt; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: Symbol;"><font
class="_mt">·<font
class="_mt"
style="font: 7pt 'Times New Roman';"> </font></font></font><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">the change in attribution from the Capital Group to the Interactive Group of the following debt securities:</font></p>
<p
class="MsoListParagraphCxSpMiddle"
style="margin: 0in 0in 0pt 1in; text-indent: -0.25in; line-height: 10.8pt; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Courier New';"><font
class="_mt">o<font
class="_mt"
style="font: 7pt 'Times New Roman';"> </font></font></font><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">$469 million in principal amount of 4% Exchangeable Senior Debentures due 2029 (the "2029 Exchangeables");</font></p>
<p
class="MsoListParagraphCxSpMiddle"
style="margin: 0in 0in 0pt 1in; text-indent: -0.25in; line-height: 10.8pt; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Courier New';"><font
class="_mt">o<font
class="_mt"
style="font: 7pt 'Times New Roman';"> </font></font></font><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">$460 million in principal amount of 3.75% Exchangeable Senior Debentures due 2030 (the "2030 Exchangeables"); and </font></p>
<p
class="MsoListParagraphCxSpMiddle"
style="margin: 0in 0in 0pt 1in; text-indent: -0.25in; line-height: 10.8pt; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Courier New';"><font
class="_mt">o<font
class="_mt"
style="font: 7pt 'Times New Roman';"> </font></font></font><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">$492 million in principal amount of 3.5% Exchangeable Senior Debentures due 2031 (the "2031 Exchangeables", and together with the 2029 Exchangeables and the 2030 Exchangeables, the "Exchangeable Notes"); </font></p>
<p
class="MsoListParagraphCxSpMiddle"
style="margin-top: 0in; line-height: 10.8pt; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: Symbol;"><font
class="_mt">·<font
class="_mt"
style="font: 7pt 'Times New Roman';"> </font></font></font><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">the change in attribution from the Capital Group to the Interactive Group of approximately $830 million in net taxable income to be recognized ratably in tax years 2014 through 2018 as a result of the cancellation in April 2009 of $400 million in principal amount of 2029 Exchangeables and $350 million in principal amount of 2030 Exchangeables; and</font></p>
<p
class="MsoListParagraphCxSpLast"
style="margin-top: 0in; line-height: 10.8pt; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: Symbol;"><font
class="_mt">·<font
class="_mt"
style="font: 7pt 'Times New Roman';"> </font></font></font><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">the change in attribution from the Capital Group to the Interactive Group of $807 million in cash.</font></p>
<p
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class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font> </p>
<p
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class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Liberty has reflected the Reattribution prospectively in the unaudited attributed financial information.<font
class="_mt"> </font>This change in attribution had no effect on the assets and liabilities attributed to the Starz Group.</font></p>
<p
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class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font> </p>
<p
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class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">See Exhibit 99.1 to this Quarterly Report on Form 10-Q for unaudited attributed financial information for Liberty's tracking stock groups.</font></p>
<p
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style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font> </p>
<p
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class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">The term "Interactive Group" does not represent a separate legal entity, rather it represents those businesses, assets and liabilities which Liberty has attributed to that group.<font
class="_mt"> </font>The assets and businesses Liberty has attributed to the Interactive Group are those engaged in video and on-line commerce, and include its subsidiaries QVC, Inc. ("QVC"), Provide Commerce, Inc. ("Provide"), Backcountry.com, Inc. ("Backcountry"), Bodybuilding.com, LLC ("Bodybuilding") and BuySeasons, Inc. ("BuySeasons") and its noncontrolling interest in Expedia, Inc. ("Expedia"), HSN, Inc. ("HSN"), Interval Leisure Group, Inc. ("Interval"),<font
class="_mt"> </font>Tree.com, Inc. ("Lending Tree") and IAC/InterActiveCorp ("IAC").<font
class="_mt"> </font>In addition, Liberty has attributed $3,556 million principal amount (as of March 31, 2010) of its public debt to the Interactive Group.<font
class="_mt"> </font>The Interactive Group will also include such other businesses, assets and liabilities that Liberty's board of directors may in the future determine to attribute to the Interactive Group, including such other businesses and assets as Liberty may acquire for the Interactive Group.</font></p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font> </p>
<p
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style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">Similarly, the term "Starz Group" does not represent a separate legal entity, rather it represents those businesses, assets and liabilities which Liberty has attributed to that group.<font
class="_mt"> </font>The Starz Group focuses primarily on video programming and is comprised primarily of Starz Entertainment, LLC ("Starz Entertainment") and $720 million of corporate cash (as of March 31, 2010).<font
class="_mt"> </font>The Starz Group will also include such other businesses, assets and liabilities that Liberty's board of directors may in the future determine to attribute to the Starz Group, including such other businesses as Liberty may acquire for the Starz Group.</font></p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font> </p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">The term "Capital Group" also does not represent a separate legal entity, rather it represents all of Liberty's businesses, assets and liabilities other than those which have been attributed to the Interactive Group or the Starz Group.<font
class="_mt"> </font>The assets and businesses attributed to the Capital Group include Liberty's subsidiaries:<font
class="_mt"> </font>Starz Media, LLC ("Starz Media"), Atlanta National League Baseball Club, Inc. ("ANLBC") and TruePosition, Inc. ("TruePosition"); and its interests in Sirius XM Radio Inc. ("SIRIUS XM"), Time Warner Inc., Time Warner Cable Inc., Sprint Nextel Corporation and Live Nation Entertainment, Inc. ("Live Nation").<font
class="_mt"> </font>In addition, Liberty has attributed $2,480 million of cash, including subsidiary cash, and $2,267 million principal amount (as of March 31, 2010) of its exchangeable senior debentures and other parent debt to the Capital Group.<font
class="_mt"> </font>The Capital Group will also include such other businesses, assets and liabilities that Liberty's board of directors may in the future determine to attribute to the Capital Group, including such other businesses and assets as Liberty may acquire for the Capital Group.<font
class="_mt"> </font></font></p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';"> </font> </p>
<p
class="MsoNormal"
style="font-size: 12pt; margin: 0in 0in 0pt; line-height: 10.8pt; font-family: Courier; text-align: justify;"><font
class="_mt"
style="font-size: 9pt; font-family: 'Bookman Old Style','serif';">During the second quarter of 2009, each of the Starz Group and the Capital Group made intergroup loans to the Interactive Group in the amount of $250 million.<font
class="_mt"> </font>In the first quarter of 2010, the Interactive Group repaid the remaining balance of the intergroup loans by making payments of $158 million to each the Starz Group and Capital Group.</font></p></div> </div>
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