Ex 991 LMC Tracking Stock Attribution

Exhibit 99.1

Unaudited Attributed Financial Information for Tracking Stock Groups

The following tables present our assets and liabilities as of June 30, 2017 and revenue and expenses for the three and six months ended June 30, 2017 and 2016 and cash flows for the six months ended June 30, 2017 and 2016. The tables further present our assets, liabilities, revenue, expenses and cash flows that are intended to be attributed to the Liberty SiriusXM Group, Liberty Braves Group (“Braves Group”) and the Liberty Formula One Group (formerly the Liberty Media Group) (“Formula One Group”), respectively. The financial information should be read in conjunction with our condensed consolidated financial statements for the six months ended June 30, 2017 included in this Quarterly Report on Form 10-Q. The Recapitalization (as defined herein) was completed on April 15, 2016 and the newly issued shares commenced trading or quotation in the regular way on the Nasdaq Global Select Market or the OTC Markets, as applicable, on Monday, April 18, 2016. Shortly following the completion of the second closing of the acquisition of Formula 1 on January 23, 2017, the Liberty Media Group was renamed the Liberty Formula One Group. Historical information of the Liberty Media Group and Liberty Media common stock is referred to herein as the Formula One Group and Liberty Formula One common stock, respectively.

The attributed financial information presented herein has been prepared assuming this attribution had been completed as of January 1, 2016. However, this attribution of historical financial information does not purport to be what actual results and balances would have been if such attribution had actually occurred and been in place during these periods. Therefore, the attributed net earnings (losses) presented in the unaudited attributed financial information for the periods prior to the Recapitalization are not the same as the net earnings (losses) reflected in the Liberty Media Corporation condensed consolidated financial statements included in this Quarterly Report on Form 10-Q. The net earnings (losses) attributed to the Liberty SiriusXM common stock, Liberty Braves common stock and Liberty Formula One common stock for purposes of those financial statements only relates to the period after the Recapitalization.

Notwithstanding the following attribution of assets, liabilities, revenue, expenses and cash flows to the Liberty SiriusXM Group, Braves Group and the Formula One Group, our tracking stock capital structure does not affect the ownership or the respective legal title to our assets or responsibility for our liabilities. We and our subsidiaries are each responsible for our respective liabilities. Holders of Liberty SiriusXM common stock, Liberty Braves common stock and Liberty Formula One common stock are holders of our common stock and are subject to risks associated with an investment in our company and all of our businesses, assets and liabilities. The issuance of Liberty SiriusXM common stock, Liberty Braves and Liberty Formula One common stock does not affect the rights of our creditors.

SUMMARY ATTRIBUTED FINANCIAL DATA

Liberty SiriusXM Group

Summary Balance Sheet Data:


	June 30,		December 31,
	2017		2016
	amounts in millions
Cash and cash equivalents	$	173		287
Investments in affiliates, accounted for using the equity method	$	610		164
Intangible assets not subject to amortization	$	23,781		23,695
Intangible assets subject to amortization, net	$	987		998
Total assets	$	27,643		27,051
Deferred revenue	$	1,865		1,833
Long-term debt, including current portion	$	6,717		6,107
Deferred tax liabilities	$	2,174		1,967
Attributed net assets	$	10,203		10,085
Noncontrolling interest	$	5,621		5,945

Summary Statement of Operations Data:


	Three months ended			Six months ended
	June 30,			June 30,
	2017		2016	2017	2016
	amounts in millions
Revenue	$	1,348	1,235	2,642	2,435
Cost of subscriber services (1)	$	(514)	(486)	(1,011)	(953)
Other operating expenses (1)	$	(27)	(20)	(51)	(39)
Selling, general and administrative expense (1)	$	(202)	(180)	(386)	(347)
Operating income (loss)	$	392	343	764	679
Interest expense	$	(85)	(86)	(169)	(167)
Income tax (expense) benefit	$	(110)	(99)	(218)	(201)
Net earnings (loss) attributable to noncontrolling interests	$	62	60	127	123
Earnings (loss) attributable to Liberty stockholders	$	123	100	247	198

(1)

Includes stock-based compensation expense as follows:


	Three months ended			Six months ended
	June 30,			June 30,
	2017		2016	2017	2016
	amounts in millions
Cost of subscriber services	$	9	6	18	12
Other operating expenses		3	3	7	6
Selling, general and administrative expense		25	21	46	36
	$	37	30	71	54

Braves Group

Summary Balance Sheet Data:


	June 30,		December 31,
	2017		2016
	amounts in millions
Cash and cash equivalents	$	128		107
Property and equipment, net	$	1,058		930
Investments in affiliates, accounted for using the equity method	$	47		61
Intangible assets not subject to amortization	$	323		323
Intangible assets subject to amortization, net	$	73		73
Total assets	$	1,734		1,548
Deferred revenue	$	112		44
Long-term debt, including current portion	$	502		328
Deferred tax liabilities	$	70		48
Attributed net assets	$	333		385

Summary Statement of Operations Data:


	Three months ended			Six months ended
	June 30,			June 30,
	2017		2016	2017	2016
	amounts in millions
Revenue	$	176	131	181	135
Selling, general and administrative expense (1)	$	(29)	(19)	(48)	(33)
Operating income (loss)	$	(3)	(3)	(36)	(46)
Share of earnings (losses) of affiliates, net	$	1	2	4	4
Income tax (expense) benefit	$	3	—	9	16
Earnings (loss) attributable to Liberty stockholders	$	(2)	25	(51)	—

(1)

Includes stock-based compensation of $6 million and $2 million for the three months ended June 30, 2017 and 2016, respectively, and $8 million and $4 million for the six months ended June 30, 2017 and 2016, respectively.

Formula One Group

Summary Balance Sheet Data:


	June 30,		December 31,
	2017		2016
	amounts in millions
Cash and cash equivalents	$	443		168
Investments in available for sale securities and other cost investments	$	569		1,301
Investments in affiliates, accounted for using the equity method	$	919		892
Intangible assets not subject to amortization	$	3,968		—
Intangible assets subject to amortization, net	$	5,313		1
Total assets	$	12,254		2,995
Deferred revenue	$	315		—
Long-term debt, including current portion	$	6,305		1,583
Deferred tax liabilities	$	478		39
Attributed net assets	$	4,912		1,286

Summary Statement of Operations Data:


	Three months ended			Six months ended
	June 30,			June 30,
	2017		2016	2017	2016
	amounts in millions
Revenue	$	616	—	712	—
Cost of Formula 1 revenue	$	414	—	482	—
Selling, general and administrative expense (1)	$	(57)	(9)	(93)	(29)
Legal settlement	$	—	—	—	511
Operating income (loss)	$	33	(12)	(47)	476
Interest expense	$	(62)	(4)	(118)	(7)
Share of earnings (losses) of affiliates, net	$	20	14	10	(7)
Realized and unrealized gains (losses) on financial instruments, net	$	(49)	(32)	(61)	(40)
Income tax (expense) benefit	$	27	12	53	(159)
Earnings (loss) attributable to Liberty stockholders	$	(27)	(43)	(123)	248

(1)

Includes stock-based compensation of $10 million and $2 million for the three months ended June 30, 2017 and 2016, respectively, and $18 million and $10 million for the six months ended June 30, 2017 and 2016, respectively.

BALANCE SHEET INFORMATION

June 30, 2017

(unaudited)


		Attributed (note 1)
	Liberty
	SiriusXM		Braves	Formula One	Inter-Group	Consolidated
	Group		Group	Group	Eliminations	Liberty
	amounts in millions
Assets
Current assets:
Cash and cash equivalents	$	173	128	443	—	744
Trade and other receivables, net		234	59	70	—	363
Other current assets		219	22	85	—	326
Total current assets		626	209	598	—	1,433
Intergroup interest in the Liberty Braves Group (note 2)		—	—	218	(218)	—
Investments in available-for-sale securities and other cost investments (note 3)		173	8	569	—	750
Investments in affiliates, accounted for using the equity method (note 4)		610	47	919	—	1,576

Property and equipment, at cost		2,141	1,083	169	—	3,393
Accumulated depreciation		(821)	(25)	(76)	—	(922)
		1,320	1,058	93	—	2,471

Intangible assets not subject to amortization
Goodwill		14,250	180	3,968	—	18,398
FCC licenses		8,600	—	—	—	8,600
Other		931	143	—	—	1,074
		23,781	323	3,968	—	28,072
Intangible assets subject to amortization, net		987	73	5,313	—	6,373
Other assets		146	16	576	(29)	709
Total assets	$	27,643	1,734	12,254	(247)	41,384

Liabilities and Equity
Current liabilities:
Intergroup payable (receivable) (note 7)	$	(9)	(36)	45	—	—
Accounts payable and accrued liabilities		783	87	122	—	992
Current portion of debt (note 5)		5	—	—	—	5
Deferred revenue		1,865	112	315	—	2,292
Other current liabilities		3	—	19	—	22
Total current liabilities		2,647	163	501	—	3,311
Long-term debt (note 5)		6,712	502	6,305	—	13,519
Deferred income tax liabilities		2,174	70	478	(29)	2,693
Redeemable intergroup interest (note 2)		—	218	—	(218)	—
Other liabilities		286	433	58	—	777
Total liabilities		11,819	1,386	7,342	(247)	20,300
Equity / Attributed net assets		10,203	333	4,912	—	15,448
Noncontrolling interests in equity of subsidiaries		5,621	15	—	—	5,636
Total liabilities and equity	$	27,643	1,734	12,254	(247)	41,384

STATEMENT OF OPERATIONS INFORMATION

Three months ended June 30, 2017

(unaudited)


		Attributed (note 1)
	Liberty
	SiriusXM		Braves	Formula One	Consolidated
	Group		Group	Group	Liberty
	amounts in millions
Revenue:
Subscriber revenue	$	1,111	—	—	1,111
Formula 1 revenue		—	—	616	616
Other revenue		237	176	—	413
Total revenue		1,348	176	616	2,140
Operating costs and expenses, including stock-based compensation (note 6):
Cost of subscriber services (exclusive of depreciation shown separately below):
Revenue share and royalties		293	—	—	293
Programming and content		96	—	—	96
Customer service and billing		95	—	—	95
Other		30	—	—	30
Cost of Formula 1 revenue		—	—	414	414
Subscriber acquisition costs		126	—	—	126
Other operating expenses		27	126	—	153
Selling, general and administrative		202	29	57	288
Depreciation and amortization		87	24	112	223
		956	179	583	1,718
Operating income (loss)		392	(3)	33	422
Other income (expense):
Interest expense		(85)	(2)	(62)	(149)
Share of earnings (losses) of affiliates, net		(5)	1	20	16
Realized and unrealized gains (losses) on financial instruments, net		—	—	(49)	(49)
Unrealized gains (losses) on intergroup interest (note 2)		—	(3)	3	—
Other, net		(7)	2	1	(4)
		(97)	(2)	(87)	(186)
Earnings (loss) before income taxes		295	(5)	(54)	236
Income tax (expense) benefit		(110)	3	27	(80)
Net earnings (loss)		185	(2)	(27)	156
Less net earnings (loss) attributable to the noncontrolling interests		62	—	—	62
Net earnings (loss) attributable to Liberty stockholders	$	123	(2)	(27)	94

STATEMENT OF OPERATIONS INFORMATION

Three months ended June 30, 2016

(unaudited)


		Attributed (note 1)
	Liberty
	SiriusXM		Braves	Formula One	Consolidated
	Group		Group	Group	Liberty
	amounts in millions
Revenue:
Subscriber revenue	$	1,032	—	—	1,032
Other revenue		203	131	—	334
Total revenue		1,235	131	—	1,366
Operating costs and expenses, including stock-based compensation (note 6):
Cost of subscriber services (exclusive of depreciation shown separately below):
Revenue share and royalties		264	—	—	264
Programming and content		83	—	—	83
Customer service and billing		94	—	—	94
Other		45	—	—	45
Subscriber acquisition costs		129	—	—	129
Other operating expenses		20	102	—	122
Selling, general and administrative		180	19	9	208
Depreciation and amortization		77	13	3	93
		892	134	12	1,038
Operating income (loss)		343	(3)	(12)	328
Other income (expense):
Interest expense		(86)	—	(4)	(90)
Share of earnings (losses) of affiliates, net		2	2	14	18
Realized and unrealized gains (losses) on financial instruments, net		—	—	(32)	(32)
Unrealized gains (losses) on intergroup interest (note 2)		—	27	(27)	—
Other, net		—	(1)	6	5
		(84)	28	(43)	(99)
Earnings (loss) before income taxes		259	25	(55)	229
Income tax (expense) benefit		(99)	—	12	(87)
Net earnings (loss)		160	25	(43)	142
Less net earnings (loss) attributable to the noncontrolling interests		60	—	—	60
Net earnings (loss) attributable to Liberty stockholders	$	100	25	(43)	82

STATEMENT OF OPERATIONS INFORMATION

Six months ended June 30, 2017

(unaudited)


		Attributed (note 1)
	Liberty
	SiriusXM		Braves	Formula One	Consolidated
	Group		Group	Group	Liberty
	amounts in millions
Revenue:
Subscriber revenue	$	2,189	—	—	2,189
Formula 1 revenue		—	—	712	712
Other revenue		453	181	—	634
Total revenue		2,642	181	712	3,535
Operating costs and expenses, including stock-based compensation (note 6):
Cost of subscriber services (exclusive of depreciation shown separately below):
Revenue share and royalties		570	—	—	570
Programming and content		192	—	—	192
Customer service and billing		192	—	—	192
Other		57	—	—	57
Cost of Formula 1 revenue		—	—	482	482
Subscriber acquisition costs		253	—	—	253
Other operating expenses		51	143	—	194
Selling, general and administrative		386	48	93	527
Depreciation and amortization		177	26	184	387
		1,878	217	759	2,854
Operating income (loss)		764	(36)	(47)	681
Other income (expense):
Interest expense		(169)	(2)	(118)	(289)
Share of earnings (losses) of affiliates, net		(2)	4	10	12
Realized and unrealized gains (losses) on financial instruments, net		—	—	(61)	(61)
Unrealized gains (losses) on intergroup interest (note 2)		—	(31)	31	—
Other, net		(1)	5	9	13
		(172)	(24)	(129)	(325)
Earnings (loss) before income taxes		592	(60)	(176)	356
Income tax (expense) benefit		(218)	9	53	(156)
Net earnings (loss)		374	(51)	(123)	200
Less net earnings (loss) attributable to the noncontrolling interests		127	—	—	127
Net earnings (loss) attributable to Liberty stockholders	$	247	(51)	(123)	73

STATEMENT OF OPERATIONS INFORMATION

Six months ended June 30, 2016

(unaudited)


		Attributed (note 1)
	Liberty
	SiriusXM		Braves	Formula One	Consolidated
	Group		Group	Group	Liberty
	amounts in millions
Revenue: