Liberty Media Corporation Common Stock

Three months

Three months

ended

ended

March 31, 2017

March 31, 2016

numbers of shares in millions

Basic WASO

NA

335

Potentially dilutive shares

NA

 2

Diluted WASO

NA

337

Liberty SiriusXM Common Stock

Three months

Three months

ended

ended

March 31, 2017

March 31, 2016

numbers of shares in millions

Basic WASO

335

NA

Potentially dilutive shares

 4

NA

Diluted WASO

339

NA

Liberty Braves Common Stock

Three months

Three months

ended

ended

March 31, 2017 (a)(b)

March 31, 2016

numbers of shares in millions

Basic WASO

49

NA

Potentially dilutive shares

10

NA

Diluted WASO

59

NA

(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, following the Recapitalization and Series C Liberty Braves common stock rights offering, the number of notional shares representing the Formula One Group’s intergroup interest in the Braves Group was adjusted to 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, 2017

March 31, 2016

amounts in millions

Basic earnings (loss) attributable to Liberty Braves shareholders

$

(49)

NA

Unrealized (gain) loss on the intergroup interest

28

NA

Diluted earnings (loss) attributable to Liberty Braves shareholders

$

(21)

NA

Liberty Formula One Common Stock

Three months

Three months

ended

ended

March 31, 2017

March 31, 2016

Basic WASO

numbers of shares in millions

Potentially dilutive shares

173

NA

Diluted WASO

 6

NA

179

NA