Liberty SiriusXM Common Stock

Three months

Three months

ended

ended

March 31, 2018

March 31, 2017

numbers of shares in millions

Basic WASO

336

335

Potentially dilutive shares

 4

 4

Diluted WASO

340

339

Liberty Braves Common Stock

Three months

Three months

ended

ended

March 31, 2018 (a)(b)

March 31, 2017 (a)

numbers of shares in millions

Basic WASO

51

49

Potentially dilutive shares

 9

10

Diluted WASO

60

59

(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 3, 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 earnings per share weighted average number of shares outstanding. However, 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. 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

Three months

ended

ended

March 31, 2018

March 31, 2017

amounts in millions

Basic earnings (loss) attributable to Liberty Braves stockholders

$

(52)

(49)

Unrealized (gain) loss on the intergroup interest

 5

28

Diluted earnings (loss) attributable to Liberty Braves stockholders

$

(47)

(21)

Liberty Formula One Common Stock

Three months

Three months

ended

ended

March 31, 2018 (a)

March 31, 2017 (a)

numbers of shares in millions

Basic WASO

231

173

Potentially dilutive shares

 2

 6

Diluted WASO

233

179