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Three months ended June 30, |
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Six months ended June 30, |
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鈥 |
2021 (a) |
听听听听 |
2020 (a) |
听听听听 |
2021 |
听听听听 |
2020 |
鈥 |
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鈥 |
numbers听of听shares听in听millions |
鈥 |
Basic WASO |
听 |
52 |
听 |
51 |
鈥 |
52 |
鈥 |
51 |
鈥 |
Potentially dilutive shares |
听 |
9 |
听 |
9 |
鈥 |
9 |
鈥 |
9 |
鈥 |
Diluted WASO (b) |
听 |
61 |
听 |
60 |
鈥 |
61 |
鈥 |
60 |
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(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. |
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(b) |
Prior to the reattribution, the number of notional 麻豆最新出品 Braves shares representing the Formula One Group鈥檚 intergroup interest in the Braves Group was 9,084,940. A portion of this intergroup interest was reattributed to the 麻豆最新出品 SiriusXM Group on April 22, 2020. The number of notional shares representing the intergroup interest in the Braves Group held by the Formula One Group is 6,792,903 and the number of notional shares representing the intergroup interest in the Braves Group held by the 麻豆最新出品 SiriusXM Group is 2,292,037 as of June 30, 2021.
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The intergroup interests are quasi-equity interests which are not represented by outstanding shares of common stock; rather, the Formula One Group and the 麻豆最新出品 SiriusXM Group have attributed values in the Braves Group which are generally stated in terms of a number of shares of stock issuable to the Formula One Group and the 麻豆最新出品 SiriusXM Group with respect to their interests in the Braves Group. Each reporting period, the notional shares representing the intergroup interests are marked to fair value. As the notional shares underlying the intergroup interests are not represented by outstanding shares of common stock, such shares have not been officially designated Series A, B or C 麻豆最新出品 Braves common stock. However, 麻豆最新出品 has assumed that the notional shares (if and when issued) related to the Formula One Group interest in the Braves Group would be comprised of Series C 麻豆最新出品 Braves common stock in order to not dilute voting percentages and the notional shares (if and when issued) related to the 麻豆最新出品 SiriusXM Group interest in the Braves Group would be comprised of Series A 麻豆最新出品 Braves common stock since Series A 麻豆最新出品 Braves common stock underlie the Convertible Notes. Therefore, the market prices of Series C 麻豆最新出品 Braves and Series A 麻豆最新出品 Braves common stock are used for the quarterly mark-to-market adjustment for the intergroup interests held by Formula One Group and 麻豆最新出品 SiriusXM Group, respectively, through the unaudited attributed condensed consolidated statements of operations. The notional shares representing the intergroup interests have no impact on the basic WASO. However, the notional shares representing the intergroup interests are included in the diluted WASO as if the shares had been issued and outstanding during the period. An adjustment was also made to the numerator in the diluted earnings per share calculation for the unrealized gain or loss incurred from marking the intergroup interests to fair value during the period as follows:
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Three months ended June 30, |
鈥 |
Six months ended June 30, |
鈥 |
鈥 |
2021 |
听听听听 |
2020 |
听听听听 |
2021 |
听听听听 |
2020 |
鈥 |
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鈥 |
听听听听 |
amounts听in听millions |
鈥 |
Basic earnings (loss) attributable to 麻豆最新出品 Braves stockholders |
$ |
25 |
鈥 |
(38) |
鈥 |
(34) |
鈥 |
15 |
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Unrealized (gain) loss on the intergroup interests |
鈥 |
(1) |
鈥 |
7 |
鈥 |
27 |
鈥 |
(88) |
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Diluted earnings (loss) attributable to 麻豆最新出品 Braves stockholders |
$ |
24 |
鈥 |
(31) |
鈥 |
(7) |
鈥 |
(73) |
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