Liberty Media Corporation Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

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

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

9 Months Ended

Sep. 30, 2019

Reconciliation of Basic and Diluted Weighted Average Shares


	Liberty SiriusXM Common Stock
	Three months ended		Nine months ended
	September 30, 2019	September 30, 2018	September 30, 2019	September 30, 2018
	numbers of shares in millions
Basic WASO	317	330	320	333
Potentially dilutive shares	4	5	4	4
Diluted WASO	321	335	324	337

Braves Group

Reconciliation of Basic and Diluted Weighted Average Shares


	Liberty Braves Common Stock
	Three months ended		Nine months ended
	September 30, 2019 (b)	September 30, 2018 (b)	September 30, 2019 (a)(b)	September 30, 2018 (a)(b)
	numbers of shares in millions
Basic WASO	51	51	51	51
Potentially dilutive shares	10	10	10	10
Diluted WASO	61	61	61	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 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		Nine months ended
		September 30, 2019	September 30, 2018	September 30, 2019	September 30, 2018
		amounts in millions
Basic earnings (loss) attributable to Liberty Braves stockholders	$	12	41	(33)	(13)
Unrealized (gain) loss on the intergroup interest		(2)	13	26	46
Diluted earnings (loss) attributable to Liberty Braves stockholders	$	10	54	(7)	33

Formula One Group

Reconciliation of Basic and Diluted Weighted Average Shares


	Liberty Formula One Common Stock
	Three months ended		Nine months ended
	September 30, 2019	September 30, 2018	September 30, 2019 (a)	September 30, 2018
	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.