Earnings Attributable to Â鶹×îгöÆ· Stockholders Per Common Share (Tables)
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9 Months Ended |
Sep. 30, 2024 |
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| Â鶹×îгöÆ· SiriusXM Group |
Ìý
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| Schedule for Reconciliation of Basic and Diluted Weighted Average Shares |
The basic and diluted EPS calculations are based on the following WASO.
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July 1, 2024 to |
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Three months ended |
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January 1, 2024 to |
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Nine months ended |
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September 9, 2024 |
ÌýÌýÌýÌý |
September 30, 2023 |
ÌýÌýÌýÌý |
September 9, 2024 |
ÌýÌýÌýÌý |
September 30, 2023 |
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numbersÌýofÌýsharesÌýinÌýmillions |
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Basic WASO |
Ìý |
327 |
Ìý |
327 |
​ |
327 |
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327 |
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Potentially dilutive shares (a) |
Ìý |
— |
Ìý |
25 |
​ |
13 |
​ |
21 |
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Diluted WASO (b) |
Ìý |
327 |
Ìý |
352 |
​ |
340 |
​ |
348 |
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| (a) |
Potentially dilutive shares are excluded from the computation of EPS during periods in which net losses are reported since the result would be antidilutive. |
| (b) |
For periods in which share settlement of the 2.125% Exchangeable Senior Debentures due 2048 and 2.75% Exchangeable Senior Debentures due 2049, which could have been settled in shares of Series C Â鶹×îгöÆ· SiriusXM common stock, and 3.75% Convertible Senior Notes due 2028, which could have been settled in shares of Series A Â鶹×îгöÆ· SiriusXM common stock, are dilutive, the numerator adjustment includes a reversal of the interest expense and the unrealized gain or loss recorded on the instruments during the period, net of tax where appropriate. The settlement of the 2.125% Exchangeable Senior Debentures due 2048 changed to solely cash, pursuant to a supplemental indenture entered into during February 2023. Accordingly, the impact of share settlement of the 2.125% Exchangeable Senior Debentures due 2048 was considered for purposes of calculating diluted WASO prior to the execution of the supplemental indenture.
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Additionally, a hypothetical mark-to-market adjustment on the shares of Series A Â鶹×îгöÆ· SiriusXM common stock underlying the warrants was included in the numerator adjustment in periods in which cash settlement of the warrants would have been more dilutive than share settlement.
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July 1, 2024 to |
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Three months ended |
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January 1, 2024 to |
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Nine months ended |
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September 9, 2024 |
ÌýÌýÌýÌý |
September 30, 2023 |
ÌýÌýÌýÌý |
September 9, 2024 |
ÌýÌýÌýÌý |
September 30, 2023 |
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ÌýÌýÌýÌý |
amountsÌýinÌýmillions |
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Basic earnings (loss) from discontinued operations attributable to Â鶹×îгöÆ· SiriusXM stockholders |
$ |
(2,500) |
​ |
233 |
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(2,002) |
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611 |
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Adjustments |
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— |
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6 |
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(93) |
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1 |
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Diluted earnings (loss) from discontinued operations attributable to Â鶹×îгöÆ· SiriusXM stockholders |
$ |
(2,500) |
​ |
239 |
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(2,095) |
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612 |
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| Formula One Group |
Ìý
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| Schedule for Reconciliation of Basic and Diluted Weighted Average Shares |
The basic and diluted EPS calculations are based on the following WASO. Ìý
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Three months ended September 30, |
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Nine months ended September 30, |
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2024 |
ÌýÌýÌýÌý |
2023 |
ÌýÌýÌýÌý |
2024 |
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2023 |
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numbersÌýofÌýsharesÌýinÌýmillions |
​ |
Basic WASO |
Ìý |
242 |
Ìý |
235 |
​ |
237 |
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234 |
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Potentially dilutive shares (a) |
Ìý |
2 |
Ìý |
9 |
​ |
5 |
​ |
7 |
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Diluted WASO (b) |
Ìý |
244 |
Ìý |
244 |
​ |
242 |
​ |
241 |
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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) |
The Â鶹×îгöÆ· SiriusXM Group’s intergroup interest in the Formula One Group was settled and extinguished on July 12, 2023. The intergroup interest was a quasi-equity interest which was not represented by outstanding shares of common stock; rather, the Â鶹×îгöÆ· SiriusXM Group had an attributed value in the Formula One Group which was generally stated in terms of a number of shares of stock issuable to the Â鶹×îгöÆ· SiriusXM Group with respect to its interest in the Formula One Group. Each reporting period, the notional shares representing the intergroup interest were marked to fair value. As the notional shares underlying the intergroup interest were not represented by outstanding shares of common stock, such shares had not been officially designated Series A, B or C Â鶹×îгöÆ· Formula One common stock. However, Â鶹×îгöÆ· assumed that the notional shares (if and when issued) would be comprised of Series A Â鶹×îгöÆ· Formula One common stock since Series A Â鶹×îгöÆ· Formula One common stock was underlying the 1.375% Cash Convertible Senior Notes due 2023. Therefore, the market price of Series A Â鶹×îгöÆ· Formula One common stock was used for the quarterly mark-to-market adjustment through the unaudited attributed condensed consolidated statements of operations. The notional shares representing the intergroup interest had no impact on the basic WASO. However, if dilutive, the notional shares representing the intergroup interest were included in the diluted WASO as if the shares had been issued and outstanding during the period. For periods in which share settlement of the intergroup interest was dilutive, an adjustment was also made to the numerator in the diluted
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earnings per share calculation for the unrealized gain or loss incurred from marking the intergroup interest to fair value during the period. |
For periods in which share settlement of the 2.25% Convertible Senior Notes due 2027, which may be settled in shares of Series C Â鶹×îгöÆ· Formula One common stock, is dilutive, the numerator adjustment includes a reversal of the interest expense and the unrealized gain or loss recorded on the instrument during the period, net of tax where appropriate. Additionally, an adjustment was also made to the numerator for a hypothetical mark-to-market adjustment on the shares of Series A Â鶹×îгöÆ· Formula One common stock underlying the warrants in periods in which cash settlement would have been more dilutive than share settlement.
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Three months ended September 30, |
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Nine months ended September 30, |
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2024 |
ÌýÌýÌýÌý |
2023 |
ÌýÌýÌýÌý |
2024 |
ÌýÌýÌýÌý |
2023 |
​ |
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ÌýÌýÌýÌý |
amountsÌýinÌýmillions |
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Basic earnings (loss) attributable to Â鶹×îгöÆ· Formula One stockholders |
$ |
117 |
​ |
118 |
​ |
218 |
​ |
125 |
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Adjustments |
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— |
​ |
(23) |
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— |
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(37) |
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Diluted earnings (loss) attributable to Â鶹×îгöÆ· Formula One stockholders |
$ |
117 |
​ |
95 |
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218 |
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88 |
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| Â鶹×îгöÆ· Live Group |
Ìý
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| Schedule for Reconciliation of Basic and Diluted Weighted Average Shares |
The basic and diluted EPS calculations are based on the following WASO. Ìý
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Three months ended |
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August 4, 2023 to |
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Nine months ended |
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August 4, 2023 to |
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September 30, 2024 |
ÌýÌýÌýÌý |
September 30, 2023 |
ÌýÌýÌýÌý |
September 30, 2024 |
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September 30, 2023 |
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numbersÌýofÌýsharesÌýinÌýmillions |
​ |
Basic WASO |
Ìý |
92 |
Ìý |
92 |
​ |
92 |
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92 |
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Potentially dilutive shares (a) |
Ìý |
— |
Ìý |
— |
​ |
— |
​ |
— |
​ |
Diluted WASO |
Ìý |
92 |
Ìý |
92 |
​ |
92 |
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92 |
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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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| Braves Group |
Ìý
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| Schedule for Reconciliation of Basic and Diluted Weighted Average Shares |
The basic and diluted EPS calculations are based on the following WASO. Ìý
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​ |
Three months ended |
​ |
July 1, 2023 to |
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Nine months ended |
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January 1, 2023 to |
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​ |
September 30, 2024 |
ÌýÌýÌýÌý |
July 18, 2023 |
ÌýÌýÌýÌý |
September 30, 2024 |
ÌýÌýÌýÌý |
July 18, 2023 |
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|
​ |
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numbersÌýofÌýsharesÌýinÌýmillions |
​ |
Basic WASO |
Ìý |
NA |
Ìý |
53 |
​ |
NA |
​ |
53 |
​ |
Potentially dilutive shares (a) |
Ìý |
NA |
Ìý |
— |
​ |
NA |
​ |
1 |
​ |
Diluted WASO |
Ìý |
NA |
Ìý |
53 |
​ |
NA |
​ |
54 |
​ |
|
(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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