EARNINGS PER SHARE

3 Months Ended

Mar. 31, 2024

EARNINGS PER SHARE

EARNINGS PER SHARE

NOTE 6—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 from continuing operations 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 three months ended March 31, 2024 and 2023.

	Three Months Ended
	March 31,
(in millions, except per share data)	2024		2023
Earnings:
Net loss	$	(75.5)	$	(48.9)
Shares:
Weighted average ordinary shares outstanding		35.3		35.0
Dilutive effect of RSUs, option awards, and PSUs(1)		—		—
Diluted weighted average ordinary shares outstanding		35.3		35.0
Loss per share:
Loss per share‒basic	$	(2.14)	$	(1.40)
Loss per share‒diluted	$	(2.14)	$	(1.40)

(1) Refer to Note 15 for discussion of RSUs, option awards, and PSUs granted to certain Company directors and employees. As the Company recorded a net loss from continuing operations for the three months ended March 31, 2024 and March 31, 2023, potential shares related to equity-based awards have been excluded from the calculation of diluted EPS, as doing so would be anti-dilutive.