6 unchanged sentences
The nature and amount of its long-term and short-term debt are expected to vary as a result of future requirements, market conditions and other factors.
−Removed: Liberty Live manages its exposure to interest rates by maintaining what it believes is an appropriate mix of fixed and variable rate debt.
+Added: Liberty Live manages its exposure to interest rates by maintaining what it believes is an appropriate mix of fixed and variable rate debt, when applicable.
Liberty Live believes this best protects its business from interest rate risk.
Liberty Live may achieve this mix by (i) issuing fixed rate debt that it believes has a low stated interest rate and significant term to maturity, (ii) issuing variable rate debt with appropriate maturities and interest rates, and (iii) entering into interest rate swap arrangements when deemed appropriate.
−Removed: As of September 30, 2025, Liberty Live had $1,150,000 thousand principal amount of fixed rate debt with a weighted average interest rate of 2.375%, and no outstanding variable rate debt.
−Removed: Additionally, our stock in Live Nation (an equity method affiliate), a publicly traded security, is not reflected at fair value in our balance sheet.
−Removed: This security is also subject to market risk that is not directly reflected in our financial statements, and had the market price of such security been 10% lower at September 30, 2025, the aggregate value of such security would have been $1,138,000 thousand lower.
+Added: As of March 31, 2026, Liberty Live had $1,150,000 thousand principal amount of fixed rate debt with a weighted average interest rate of 2.375%, and no outstanding variable rate debt.
+Added: The Company is exposed to changes in stock prices primarily as a result of our significant holding in Live Nation (an equity method affiliate).
+Added: We continually monitor changes in stock markets, in general, and changes in the stock price of Live Nation, specifically.
+Added: We believe that changes in stock prices can be expected to vary as a result of general market conditions, technological changes, specific industry changes and other factors.
+Added: We periodically use equity collars and other financial instruments to manage market risk.
+Added: These instruments are recorded at fair value based on option pricing models and other appropriate methods.
+Added: Additionally, our stock in Live Nation, is not reflected at fair value in our balance sheet.
+Added: This security is also subject to market risk that is not directly reflected in our financial statements, and had the market price of such security been 10% lower at March 31, 2026, the aggregate value of such security would have been $1,062,156 thousand lower.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.