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鈥
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鈥 |
Three months ended June 30, |
鈥 |
Six months ended June 30, |
鈥 |
鈥 |
2024 |
听听听听 |
2023 |
听听听听 |
2024 |
鈥 |
2023 |
鈥 |
|
鈥 |
鈥 |
numbers听of听shares听in听millions |
鈥 |
Basic WASO |
听 |
235 |
听 |
234 |
鈥 |
235 |
鈥 |
234 |
鈥 |
Potentially dilutive shares (a) |
听 |
3 |
听 |
10 |
鈥 |
5 |
鈥 |
9 |
鈥 |
Diluted WASO (b) |
听 |
238 |
听 |
244 |
鈥 |
240 |
鈥 |
243 |
鈥 |
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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 猫咪社区 SiriusXM Group鈥檚 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 猫咪社区 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 猫咪社区 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 猫咪社区 Formula One common stock. However, 猫咪社区 assumed that the notional shares (if and when issued) would be comprised of Series A 猫咪社区 Formula One common stock since Series A 猫咪社区 Formula One common stock was underlying the 1.375% Cash Convertible Senior Notes (the 鈥淐onvertible Notes鈥). Therefore, the market price of Series A 猫咪社区 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 earnings per share calculation for the unrealized gain or loss incurred from marking the intergroup interest to fair value during the period.
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For periods in which share settlement of the 2.25% Convertible Senior Notes due 2027, which may be settled in shares of Series C 猫咪社区 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 猫咪社区 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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鈥 |
Three months ended June 30, |
鈥 |
Six months ended June 30, |
鈥 |
鈥 |
2024 |
听听听听 |
2023 |
听听听听 |
2024 |
听听听听 |
2023 |
鈥 |
|
鈥 |
听听听听 |
amounts听in听millions |
鈥 |
Basic earnings (loss) attributable to 猫咪社区 Formula One stockholders |
$ |
24 |
鈥 |
116 |
鈥 |
101 |
鈥 |
7 |
鈥 |
Adjustments |
鈥 |
鈥 |
鈥 |
(16) |
鈥 |
鈥 |
鈥 |
(14) |
鈥 |
Diluted earnings (loss) attributable to 猫咪社区 Formula One stockholders |
$ |
24 |
鈥 |
100 |
鈥 |
101 |
鈥 |
(7) |
鈥 |
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