Earnings Attributable to Liberty Media Corporation Stockholders Per Common Share (Tables)
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9 Months Ended |
Sep. 30, 2016 |
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| Liberty Media Corporation |
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| Reconciliation of Basic and Diluted Weighted Average Shares |
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Liberty Media Corporation Common Stock
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Three months
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Three months
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January 1, 2016
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Nine months
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ended
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ended
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through
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ended
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September 30, 2016
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September 30, 2015
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April 15, 2016
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September 30, 2015
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numbers of shares in millions
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Basic WASO
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NA
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335
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335
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338
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Potentially dilutive shares
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NA
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3
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2
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3
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Diluted WASO
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NA
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338
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337
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341
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| Liberty Sirius XM Group |
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| Reconciliation of Basic and Diluted Weighted Average Shares |
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Liberty SiriusXM Common Stock
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Three months
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Three months
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April 15, 2016
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Nine months
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ended
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ended
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through
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ended
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September 30, 2016
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September 30, 2015
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September 30, 2016
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September 30, 2015
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numbers of shares in millions
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Basic WASO
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335
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NA
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335
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NA
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Potentially dilutive shares
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2
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NA
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2
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NA
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Diluted WASO
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337
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NA
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337
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NA
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| Liberty Braves Group |
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| Reconciliation of Basic and Diluted Weighted Average Shares |
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Liberty Braves Common Stock
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Three months
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April 15, 2016
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ended
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Three months
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through
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Nine months
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September 30, 2016
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ended
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September 30, 2016
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ended
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(a)(b)(c)
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September 30, 2015
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(a)(b)(c)
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September 30, 2015
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numbers of shares in millions
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Basic WASO
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49
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NA
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43
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NA
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Potentially dilutive shares
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10
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NA
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10
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NA
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Diluted WASO
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59
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NA
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53
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NA
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(a)
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As discussed in note 2, subsequent to the Recapitalization, Liberty distributed subscription rights to holders of Liberty Braves common stock, which were priced at a discount to the market value, to acquire additional shares of Liberty Braves common stock. The rights offering, because of the discount, is considered a stock dividend which requires retroactive treatment for prior periods for the weighted average shares outstanding.
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(b)
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Potentially dilutive shares are excluded from the computation of diluted EPS during periods in which losses are reported since the result would be antidilutive.
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(c)
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As discussed in note 2, following the Recapitalization and Series C Liberty Braves common stock rights offering, the number of notional shares representing the Liberty Media Group’s intergroup interest in the Liberty 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 Liberty Media Group has an attributed value in the Liberty Braves Group which is generally stated in terms of a number of shares of stock issuable to the Liberty Media Group with respect to its interest in the Liberty 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:
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Three months
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Three months
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April 15, 2016
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Nine months
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ended
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ended
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through
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ended
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September 30, 2016
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September 30, 2015
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September 30, 2016
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September 30, 2015
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amounts in millions
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Basic earnings (loss) attributable to Liberty Braves shareholders
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$
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(22)
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NA
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10
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NA
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Unrealized (gain) loss on the intergroup interest
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25
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NA
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(2)
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NA
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Diluted earnings (loss) attributable to Liberty Braves shareholders
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$
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3
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NA
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8
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NA
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| Liberty Media Group |
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| Reconciliation of Basic and Diluted Weighted Average Shares |
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Liberty Media Common Stock
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Three months
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Three months
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April 15, 2016
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Nine months
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ended
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ended
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through
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ended
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September 30, 2016
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September 30, 2015
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September 30, 2016
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September 30, 2015
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numbers of shares in millions
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Basic WASO
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84
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NA
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84
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NA
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Potentially dilutive shares
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1
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NA
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1
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NA
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Diluted WASO
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85
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NA
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85
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NA
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