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EARNINGS PER SHARE
9 Months Ended
Sep. 30, 2024
EARNINGS PER SHARE  
EARNINGS PER SHARE

NOTE 7—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 and nine months ended September 30, 2024 and 2023.

Three Months Ended

Nine Months Ended

September 30, 

September 30, 

(in millions, except per share data)

    

2024

    

2023

    

2024

    

2023

    

Earnings:

Net loss

$

(87.3)

$

(38.4)

$

(230.6)

$

(436.3)

Shares:

Weighted average ordinary shares outstanding

 

35.4

 

35.2

 

35.3

 

35.1

Dilutive effect of RSUs, option awards, and PSUs(1)

 

 

 

 

Diluted weighted average ordinary shares outstanding

 

35.4

 

35.2

 

35.3

 

35.1

Loss per share:

Loss per share‒basic

$

(2.47)

$

(1.09)

$

(6.53)

$

(12.42)

Loss per share‒diluted

$

(2.47)

$

(1.09)

$

(6.53)

$

(12.42)

(1)Refer to Note 16 for discussion of RSUs, option awards, and PSUs granted to certain Company directors and employees. As the Company recorded a net loss for the three months and nine months ended September 30, 2024 and September 30, 2023, potential shares related to equity-based awards have been excluded from the calculation of diluted EPS, as doing so would be anti-dilutive.