Quarterly report pursuant to Section 13 or 15(d)

Earnings Attributable to Liberty Media Corporation Stockholders Per Common Share (Tables)

v3.19.2
Earnings Attributable to Liberty Media Corporation Stockholders Per Common Share (Tables)
6 Months Ended
Jun. 30, 2019
Liberty Sirius XM Group  
Reconciliation of Basic and Diluted Weighted Average Shares

Liberty SiriusXM Common Stock

Three months ended

Six months ended

    

June 30, 2019

    

June 30, 2018

    

June 30, 2019

    

June 30, 2018

numbers of shares in millions

Basic WASO

 

319

 

333

321

335

Potentially dilutive shares

 

4

 

4

4

4

Diluted WASO

 

323

 

337

325

339

Braves Group  
Reconciliation of Basic and Diluted Weighted Average Shares

Liberty Braves Common Stock

Three months ended

Six months ended

    

June 30, 2019 (b)

    

June 30, 2018 (a)(b)

    

June 30, 2019 (a)(b)

    

June 30, 2018 (a)(b)

numbers of shares in millions

Basic WASO

 

51

 

51

51

51

Potentially dilutive shares

 

10

 

9

10

9

Diluted WASO

 

61

 

60

61

60

(a) Potentially dilutive shares are excluded from the computation of diluted EPS during periods in which losses are reported since the result would be antidilutive.
(b) As discussed in note 2, the number of notional shares representing the Formula One Group’s intergroup interest in the Braves Group is 9,084,940 shares. The intergroup interest is a quasi-equity interest which is not represented by outstanding shares of common stock; rather, the Formula One Group has an attributed value in the Braves Group which is generally stated in terms of a number of shares of stock issuable to the Formula One Group with respect to its interest in the Braves Group. Each reporting period, the notional shares representing the intergroup interest are marked to fair value. As the notional shares underlying the intergroup interest are not represented by outstanding shares of common stock, such shares have not been officially designated Series A, B or C Liberty Braves common stock. However, Liberty has assumed that the notional shares (if and when issued) would be comprised of Series C Liberty Braves common stock in order to not dilute voting percentages.
Therefore, the market price of Series C Liberty Braves common stock is used for the quarterly mark-to-market adjustment through the unaudited attributed condensed consolidated statements of operations. The notional shares representing the intergroup interest have no impact on the basic WASO. However, the notional shares representing the intergroup interest are included in the diluted WASO as if the shares had been issued and outstanding during the period. An adjustment is also made to the numerator in the diluted earnings per share calculation for the unrealized gain or loss incurred from marking the intergroup interest to fair value during the period as follows:

Three months ended

Six months ended

June 30, 2019

    

June 30, 2018

    

June 30, 2019

    

June 30, 2018

    

amounts in millions

Basic earnings (loss) attributable to Liberty Braves stockholders

$

26

(2)

(45)

(54)

Unrealized (gain) loss on the intergroup interest

2

28

28

33

Diluted earnings (loss) attributable to Liberty Braves stockholders

$

28

26

(17)

(21)

Formula One Group  
Reconciliation of Basic and Diluted Weighted Average Shares

Liberty Formula One Common Stock

Three months ended

Six months ended

    

June 30, 2019 (a)

    

June 30, 2018

    

June 30, 2019 (a)

    

June 30, 2018 (a)

numbers of shares in millions

Basic WASO

 

231

 

231

231

231

Potentially dilutive shares

 

2

 

1

2

1

Diluted WASO

 

233

 

232

233

232

(a) Potentially dilutive shares are excluded from the computation of diluted EPS during periods in which losses are reported since the result would be antidilutive.