Earnings or Loss per Share

6 Months Ended

Jun. 30, 2017

Basic earnings or loss per shares (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 and LiLAC Shares are set forth below:



	Three months ended						Six months ended
	June 30,						June 30,
	2017			2016			2017			2016
	in millions
Net earnings (loss) attributable to holders of:
Liberty Global Shares	$	(636.6	)	$	204.2		$	(929.5	)	$	(126.4	)
LiLAC Shares	(37.7		)	(102.8		)	(65.0		)	(141.3		)
Net earnings (loss) attributable to Liberty Global shareholders	$	(674.3	)	$	101.4		$	(994.5	)	$	(267.7	)

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



	Three months ended		Six months ended
	June 30,		June 30,
	2017	2016	2017	2016
Weighted average ordinary shares outstanding:
Liberty Global Shares:
Basic	853,612,217	892,530,351	871,936,668	868,011,483
Diluted	853,612,217	900,686,305	871,936,668	868,011,483
LiLAC Shares:
Basic	172,074,934	50,357,803	172,410,613	47,145,780
Diluted	172,074,934	50,357,803	172,410,613	47,145,780

Liberty Global Shares

We reported losses attributable to holders of Liberty Global Shares for the three and six months ended June 30, 2017 and the six months ended June 30, 2016. Therefore, the potentially dilutive effect at June 30, 2017 and 2016 of the following items were 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, at June 30, 2016, PGUs, because such awards had not yet met the applicable performance criteria: (i) the aggregate number of outstanding options, SARs, PSARs and RSUs of approximately 55.5 million and 49.3 million, respectively, (ii) the aggregate number of PSUs and PGUs of approximately 7.3 million and 8.9 million, respectively, and (iii) the aggregate number of shares issuable pursuant to obligations that may be settled in cash or shares of nil and approximately 2.7 million, respectively.

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

The following were excluded from the calculation of diluted earnings per share set forth in the table above because their effect would have been anti-dilutive: (i) a total of 24.3 million options, SARs, PSARs and RSUs and (ii) 2.7 million shares that were issuable upon the conversion of certain convertible notes of Virgin Media.

LiLAC Shares

We reported losses attributable to holders of LiLAC Shares for the three and six months ended June 30, 2017 and 2016. Therefore, the potentially dilutive effect at June 30, 2017 and 2016 of the following items were 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, at June 30, 2016, 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 9.1 million and 1.8 million, respectively, and (ii) the aggregate number of shares issuable pursuant to PSUs and PGUs of approximately 1.3 million and 0.4 million, respectively.