NOTE 23—EARNINGS PER SHARE Basic earnings per ordinary share (“basic EPS”) is computed by dividing net income available to ordinary shareholders by the weighted average number of the Company’s ordinary shares outstanding for the applicable period. Diluted earnings per ordinary share (“diluted EPS”) is calculated using net income available to ordinary shareholders divided by diluted weighted average ordinary shares outstanding during each period, which includes unvested RSUs, option awards, and PSUs. Diluted EPS considers the impact of potentially dilutive securities except in periods in which there is a loss because the inclusion of the potential ordinary shares would have an anti-dilutive effect. The following table presents basic EPS and diluted EPS for the years ended December 31, 2021, 2020, and 2019. | | | | | | | | | | | | | Year Ended | | | | December 31, | | (in millions, except per share data) | | 2021 | | 2020 | | 2019 | | Earnings: | | | | | | | | | | | Net income from continuing operations | | $ | 279.6 | | $ | 62.7 | | $ | 87.1 | | Net income (loss) from discontinued operations | | | 160.4 | | | (54.8) | | | 4.9 | | Net income | | $ | 440.0 | | $ | 7.9 | | $ | 92.0 | | Shares: | | | | | | | | | | | Weighted average ordinary shares outstanding | | | 38.7 | | | 38.3 | | | 40.3 | | Dilutive effect of RSUs, option awards, and PSUs(1) | | | 0.9 | | | 0.3 | | | 0.4 | | Diluted weighted average ordinary shares outstanding | | | 39.6 | | | 38.6 | | | 40.7 | | Income (loss) per share: | | | | | | | | | | | Income (loss) per share—basic: | | | | | | | | | | | Continuing operations | | | 7.22 | | | 1.63 | | | 2.16 | | Discontinued operations | | | 4.15 | | | (1.43) | | | 0.12 | | Income per share—basic | | $ | 11.37 | | $ | 0.20 | | $ | 2.28 | | Income (loss) per share—diluted: | | | | | | | | | | | Continuing operations | | | 7.07 | | | 1.62 | | | 2.14 | | Discontinued operations | | | 4.05 | | | (1.42) | | | 0.12 | | Income per share—diluted | | $ | 11.12 | | $ | 0.20 | | $ | 2.26 | |
| (1) | Refer to Note 18 for discussion of RSUs, option awards, and PSUs granted to certain Company directors and employees. The number of anti-dilutive shares that have been excluded in the computation of diluted earnings per share were 0.6 million, 1.1 million, and 0.6 million for the years ended December 31, 2021, 2020, and 2019, respectively. |
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