Earnings or Loss per Share

Basic EPS is computed by dividing net earnings or loss by the weighted average number of shares outstanding for the period. Diluted EPS presents the dilutive effect, if any, on a per share basis of potential shares (e.g., options, SARs, PSARs, RSUs and convertible securities) as if they had been exercised, vested or converted at the beginning of the periods presented.

The details of our net earnings (loss) attributable to holders of Liberty Global Shares, LiLAC Shares and Old Liberty Global Shares are set forth below:



	Three months ended						Six months ended
	June 30,						June 30,
	2016			2015			2016			2015
	in millions
Net earnings (loss) attributable to holders of:
Liberty Global Shares	$	204.2		$	—		$	(126.4	)	$	—
LiLAC Shares	(102.8		)	—			(141.3		)	—
Old Liberty Global Shares	—			(464.7		)	—			(1,002.2		)
Net earnings (loss) attributable to Liberty Global shareholders	$	101.4		$	(464.7	)	$	(267.7	)	$	(1,002.2	)

The details of our weighted average ordinary shares outstanding are set forth below:



	Three months ended		Six months ended
	June 30,		June 30,
	2016	2015	2016	2015
Weighted average ordinary shares outstanding:
Liberty Global Shares:
Basic	892,530,351		868,011,483
Diluted	900,686,305		868,011,483
LiLAC Shares:
Basic	50,357,803		47,145,780
Diluted	50,357,803		47,145,780
Old Liberty Global Shares:
Basic		880,850,801		884,040,481
Diluted		880,850,801		884,040,481

Liberty Global Shares

The details of the calculation of EPS with respect to Liberty Global Shares for the three months ended June 30, 2016 are set forth in the following table:



Numerator:
Net earnings attributable to holders of Liberty Global Shares (basic and diluted EPS computation) (in millions)	$	204.2

Denominator:
Weighted average ordinary shares (basic EPS computation)	892,530,351
Incremental shares attributable to the assumed exercise of outstanding options, SARs and PSARs and the release of share units upon vesting (treasury stock method)	8,155,954
Weighted average ordinary shares (diluted EPS computation)	900,686,305

A total of 24.3 million options, SARs, PSARs and RSUs and 2.7 million shares issuable upon conversion of the VM Convertible Notes were excluded from the calculation of diluted earnings per share during the three months ended June 30, 2016 because their effect would have been anti-dilutive.

We reported a loss attributable to holders of Liberty Global Shares for the six months ended June 30, 2016. Therefore, the potentially dilutive effect at June 30, 2016 of the following items was not included in the computation of diluted loss per share attributable to holders of Liberty Global Shares because their inclusion would have been anti-dilutive to the computation or, in the case of certain PSUs and PGUs, because such awards had not yet met the applicable performance criteria: (i) the aggregate number of shares issuable pursuant to outstanding options, SARs, PSARs and RSUs of approximately 49.3 million, (ii) the aggregate number of shares issuable pursuant to PSUs and PGUs of approximately 8.9 million and (iii) the aggregate number of shares issuable pursuant to obligations that may be settled in cash or shares of approximately 2.7 million.

LiLAC Shares

We reported losses attributable to holders of LiLAC Shares for the three and six months ended June 30, 2016. Therefore, the potentially dilutive effect at June 30, 2016 of the following items was not included in the computation of diluted loss per share attributable to holders of LiLAC Shares because their inclusion would have been anti-dilutive to the computation or, in the case of certain PSUs and PGUs, because such awards had not yet met the applicable performance criteria: (i) the aggregate number of shares issuable pursuant to outstanding options, SARs, PSARs and RSUs of approximately 1.8 million and (ii) the aggregate number of shares issuable pursuant to PSUs and PGUs of approximately 0.4 million.

For information concerning additional LiLAC Shares issued on July 1, 2016, see note 3.

Old Liberty Global Shares

We reported losses attributable to holders of Old Liberty Global Shares for the three and six months ended June 30, 2015. Therefore, the potentially dilutive effect at June 30, 2015 of the following items was not included in the computation of diluted loss per share attributable to holders of Old Liberty Global Shares because their inclusion would have been anti-dilutive to the computation or, in the case of certain PSUs and PGUs, because such awards had not yet met the applicable performance criteria: (i) the aggregate number of shares issuable pursuant to outstanding options, SARs, PSARs and RSUs of approximately 42.0 million, (ii) the number of shares issuable pursuant to PSUs and PGUs of approximately 5.3 million and (iii) the aggregate number of shares issuable pursuant to obligations that may be settled in cash or shares of approximately 2.6 million.