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Net (Loss) Income per Share | 9 Months Ended
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Sep. 30, 2024
Earnings Per Share [Abstract] |
Net (Loss) Income per Share | Net (Loss) Income per Share Basic net (loss) income per common share is calculated by dividing the (loss) income available to common stockholders by the weighted average common shares outstanding during each reporting period. Diluted net (loss) income per common share adjusts the weighted average number of common shares outstanding for the potential dilution that could occur if common stock equivalents (stock options, restricted stock units and convertible debt) were exercised or converted into common stock, calculated using the treasury stock method. We had no participating securities during the three and nine months ended September 30, 2024 and 2023. In calculating basic net (loss) income per common share, we used 337 and 339 common shares for the three and nine months ended September 30, 2023, respectively, which was the weighted average number of shares of Liberty Media's Series A, Series B, and Series C Liberty SiriusXM common stock and Old Sirius's common stock as converted by the Redemption and Merger exchange ratios, respectively, as no SplitCo shares were outstanding during that period. In calculating diluted net (loss) income per common share, we used 360 of diluted common shares for each of the three and nine months ended September 30, 2023, which was the weighted average number of shares of Liberty Media's Series A, Series B, and Series C Liberty SiriusXM common stock and Old Sirius's common stock adjusted for the impact of dilutive instruments as converted by the Redemption and Merger exchange ratios, respectively, as no SplitCo shares were outstanding during that period. Common stock equivalents of 41 and 36 for the three months ended September 30, 2024 and 2023, respectively, and 40 and 36 for the nine months ended September 30, 2024 and 2023, respectively, were excluded from the calculation of diluted net income per common share as the effect would have been anti-dilutive.
| For the Three Months Ended September 30, |  | For the Nine Months Ended September 30,
| 2024 |  | 2023 |  | 2024 |  | 2023 |  |
Numerator: |  |  |  |  |  |  |  |  |
Net (loss) income available to common stockholders for basic net (loss) income per common share | $ | (2,456) |  |  | $ | 234 |  |  | $ | (1,952) |  |  | $ | 614 |  |  |
Net (loss) income attributable to noncontrolling interest | (502) |  |  | 57 |  |  | (410) |  |  | 146 |  |  |
Total net (loss) income | (2,958) |  |  | 291 |  |  | (2,362) |  |  | 760 |  |  |
Effect of interest on assumed conversions of convertible notes, net of tax | — |  |  | 6 |  |  | — |  |  | 2 |  |  |
Net (loss) income available to common stockholders for dilutive net (loss) income per common share | $ | (2,958) |  |  | $ | 297 |  |  | $ | (2,362) |  |  | $ | 762 |  |  |
Denominator: |  |  |  |  |  |  |  |  |
Weighted average common shares outstanding for basic net (loss) income per common share | 339 |  |  | 337 |  |  | 337 |  |  | 339 |  |  |
Weighted average impact of assumed convertible and exchangeable notes | — |  |  | 21 |  |  | — |  |  | 19 |  |  |
Weighted average impact of dilutive equity instruments | — |  |  | 2 |  |  | — |  |  | 2 |  |  |
Weighted average shares for diluted net (loss) income per common share | 339 |  |  | 360 |  |  | 337 |  |  | 360 |  |  |
Net (loss) income per common share: |  |  |  |  |  |  |  |  |
Basic | $ | (8.74) |  |  | $ | 0.86 |  |  | $ | (7.01) |  |  | $ | 2.24 |  |  |
Diluted | $ | (8.74) |  |  | $ | 0.82 |  |  | $ | (7.01) |  |  | $ | 2.12 |  |  |

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