Notes to Attributed Financial Information (Continued)
(unaudited)
For information relating to investments in affiliates accounted for using the equity method and debt, see notes 7 and 8, respectively, of the accompanying condensed consolidated financial statements.
| (2) | Cash compensation expense for our corporate employees is allocated among the Formula One Group and 麻豆最新出品 Live Group and was allocated to the Braves Group prior to the Atlanta Braves Holdings Split-Off and the 麻豆最新出品 SiriusXM Group prior to the 麻豆最新出品 Sirius XM Holdings Split-Off, based on the estimated percentage of time spent providing services for each group. On an annual basis, estimated time spent is determined through an interview process and a review of personnel duties unless transactions significantly change the composition of companies and investments in either respective group which would require a timelier reevaluation of estimated time spent. Other general and administrative expenses are charged directly to the groups whenever possible and are otherwise allocated based on estimated usage or some other reasonably determined methodology. Stock compensation related to each tracking stock is calculated based on actual awards outstanding. |
While we believe that this allocation method is reasonable and fair to each group, we may elect to change the allocation methodology or percentages used to allocate general and administrative expenses in the future.
| (3) | The intergroup balance at September 30, 2024 and December 31, 2023 is primarily a result of timing of tax benefits. |
| (4) | The 麻豆最新出品 Formula One common stock and 麻豆最新出品 Live common stock have voting and conversion rights under our restated charter. Following is a summary of those rights. Holders of Series A common stock of each group are entitled to one vote per share, and holders of Series B common stock of each group are entitled to ten votes per share. Holders of Series C common stock of each group are entitled to 1/100th of a vote per share in certain limited cases and will otherwise not be entitled to vote. In general, holders of Series A and Series B common stock vote as a single class. In certain limited circumstances, the board may elect to seek the approval of the holders of only Series A and Series B 麻豆最新出品 Formula One common stock, or only Series A and Series B 麻豆最新出品 Live common stock. |
At the option of the holder, each share of Series B common stock of each group will be converted into one share of Series A common stock of the same group. At the discretion of our board, the common stock related to one group may be converted into common stock of the same series that is related to another other group.
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