Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2018

Earnings Per Share [Abstract]

Schedule of Income Available to Discovery Stockholders

The table below sets forth the computation for income allocated to Discovery, Inc. stockholders (in millions).

	Three Months Ended September 30,						Nine Months Ended September 30,
	2018			2017			2018			2017
Numerator:
Net income	$	135		$	223		$	382		$	824
Less:
Allocation of undistributed income to Series A-1 convertible preferred stock	(12		)	(27		)	(34		)	(99		)
Net income attributable to noncontrolling interests	(13		)	—			(41		)	—
Net income attributable to redeemable noncontrolling interests	(5		)	(5		)	(16		)	(17		)
Redeemable noncontrolling interest adjustments to redemption value	—			—			(6		)	—
Net income allocated to Discovery, Inc. Series A, B and C common and Series C-1 convertible preferred stockholders for basic net income per share	$	105		$	191		$	285		$	708
Allocation of net income to Discovery, Inc. Series A, B and C common stockholders and Series C-1 convertible preferred stockholders for basic net income per share:
Series A, B and C common stockholders	86			146			231			539
Series C-1 convertible preferred stockholders	19			45			54			169
Total	105			191			285			708
Add:
Allocation of undistributed income to Series A-1 convertible preferred stockholders	12			27			34			99
Net income allocated to Discovery, Inc. Series A, B and C common stockholders for diluted net income per share	$	117		$	218		$	319		$	807

Schedule of Weighted Average Basic And Diluted Shares Outstanding

The table below sets forth the weighted average number of shares outstanding utilized in determining the denominator for basic and diluted earnings per share (in millions).

	Three Months Ended September 30,		Nine Months Ended September 30,
	2018	2017	2018	2017
Denominator — weighted average:
Series A, B and C common shares outstanding — basic	523	381	490	385
Impact of assumed preferred stock conversion	187	189	187	194
Dilutive effect of share-based awards	3	1	2	2
Series A, B and C common shares outstanding — diluted	713	571	679	581
Series C-1 convertible preferred stock outstanding — basic and diluted	6	6	6	6

Schedule of Basic and Diluted Earnings per Share

The table below sets forth the Company's calculated earnings per share.

	Three Months Ended September 30,				Nine Months Ended September 30,
	2018		2017		2018		2017
Basic net income per share allocated to Discovery, Inc. Series A, B and C common and Series C-1 convertible preferred stockholders:
Series A, B and C common stockholders	$	0.16	$	0.38	$	0.47	$	1.40
Series C-1 convertible preferred stockholders	$	3.19	$	7.41	$	9.13	$	27.06
Diluted net income per share allocated to Discovery, Inc. Series A, B and C common and Series C-1 convertible preferred stockholders:
Series A, B and C common stockholders	$	0.16	$	0.38	$	0.47	$	1.39
Series C-1 convertible preferred stockholders	$	3.18	$	7.40	$	9.10	$	26.96

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

The table below presents the details of share-based awards that were excluded from the calculation of diluted earnings per share (in millions).

	Three Months Ended September 30,		Nine Months Ended September 30,
	2018	2017	2018	2017
Anti-dilutive stock options and RSUs	16	11	13	10
PRSUs whose performance targets have not been achieved	2	2	2	2