jvidÊÓƵ

Quarterly report pursuant to Section 13 or 15(d)

Earnings Attributable to jvidÊÓƵ Stockholders Per Common Share (Tables)

v3.20.1
Earnings Attributable to jvidÊÓƵ Stockholders Per Common Share (Tables)
 3 Months Ended
Mar. 31, 2020
Liberty SiriusXM Group Ìý
Reconciliation of Basic and Diluted Weighted Average Shares

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Three months ended March 31,

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2020

ÌýÌýÌýÌý

2019

​

​

​

numbersÌýofÌýsharesÌýinÌýmillions

​

Basic WASO

Ìý

315

Ìý

323

​

Potentially dilutive shares

Ìý

4

Ìý

4

​

Diluted WASO (a)

Ìý

319

Ìý

327

​
(a) As discussed in note 2, the number of notional Liberty Sirius XM shares representing the intergroup interest held by the Formula One Group was 1,945,491 as of March 31, 2020. 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 Liberty SiriusXM 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 Liberty SiriusXM 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 SiriusXM common stock. However, Liberty has assumed that the notional shares (if and when issued) would be comprised of Series C Liberty SiriusXM common stock in order to not dilute voting percentages. Therefore, the market price of Series C Liberty SiriusXM 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 earnings per
share weighted average number of shares outstanding. However, in periods where the Liberty SiriusXM Group has net earnings, the notional shares representing the intergroup interest are included in the diluted earnings per share WASO as if the shares had been issued and outstanding during the period. In periods where the Liberty SiriusXM Group has net earnings, 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:

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Three months ended March 31,

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2020

ÌýÌýÌýÌý

2019

​

​

ÌýÌýÌýÌý

amountsÌýinÌýmillions

​

Basic earnings (loss) attributable to Liberty SiriusXM stockholders

$

214

​

61

​

Unrealized (gain) loss on the intergroup interest

​

(31)

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NA

​

Diluted earnings (loss) attributable to Liberty SiriusXM stockholders

$

183

​

61

​
Braves Group Ìý
Reconciliation of Basic and Diluted Weighted Average Shares

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​

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Three months ended March 31,

​

​

2020

ÌýÌýÌýÌý

2019 (a)

​

​

​

numbersÌýofÌýsharesÌýinÌýmillions

​

Basic WASO

Ìý

51

Ìý

51

​

Potentially dilutive shares

Ìý

10

Ìý

10

​

Diluted WASO (b)

Ìý

61

Ìý

61

​
(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 Liberty Braves shares representing the Formula One Group’s intergroup interest in the Braves Group is 9,084,940 shares as of March 31, 2020. 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:

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Three months ended March 31,

​

​

2020

ÌýÌýÌýÌý

2019

​

​

ÌýÌýÌýÌý

amountsÌýinÌýmillions

​

Basic earnings (loss) attributable to Liberty Braves stockholders

$

53

​

(71)

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Unrealized (gain) loss on the intergroup interest

​

(95)

​

26

​

Diluted earnings (loss) attributable to Liberty Braves stockholders

$

(42)

​

(45)

​
Formula One Group Ìý
Reconciliation of Basic and Diluted Weighted Average Shares

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Three months ended March 31,

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​

2020 (a)

ÌýÌýÌýÌý

2019 (a)

​

​

​

numbersÌýofÌýsharesÌýinÌýmillions

​

Basic WASO

Ìý

232

Ìý

231

​

Potentially dilutive shares

Ìý

1

Ìý

2

​

Diluted WASO

Ìý

233

Ìý

233

​
(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.