Earnings (Loss) Per Share

6 Months Ended

Dec. 31, 2015

EARNINGS PER SHARE AND SHAREHOLDERS' EQUITY

Earnings per Share

A reconciliation of the numerators and denominators used in our basic and diluted EPS calculation is as follows (in millions):



	Six Months Ended		Fiscal Year Ended
	December 31, 2015		June 27, 2015		June 28, 2014		June 29, 2013
Numerator:
Net income	$	5.6	$	128.0	$	205.3	$	441.9

Denominator:
Weighted average shares outstanding for basic EPS	145.6		139.3		115.1		93.9
Dilutive effect of share-based awards	0.5		0.5		0.5		0.6
Weighted average shares outstanding for diluted EPS	146.1		139.8		115.6		94.5

Anti-dilutive share-based awards excluded from computation of diluted EPS	0.1		0.1		0.1		0.2

Shareholder's Equity

On and prior to December 18, 2013, our common stock consisted of common stock of Perrigo Company, a Michigan Corporation, and since December 19, 2013, our common stock has consisted of ordinary shares of Perrigo Company plc, a public limited company incorporated under the laws of Ireland.

Prior to June 6, 2013, our common stock traded on the NASDAQ Global Select Market under the symbol PRGO. Since June 6, 2013, our ordinary shares have traded on the New York Stock Exchange under the symbol PRGO. In association with the acquisition of Agis Industries (1983) Ltd., our ordinary shares have been trading on the Tel Aviv Stock Exchange since March 16, 2005.

Dividends

In January 2003, the Board of Directors adopted a policy of paying quarterly dividends. We paid dividends as follows:



	Six Months Ended		Fiscal Year Ended
	December 31, 2015		June 27, 2015		June 28, 2014		June 29, 2013
Dividends paid (in millions)	$	36.3	$	64.8	46.1		$	33.0
Dividends paid per share	$	0.25	$	0.46	$	0.39	$	0.35

The declaration and payment of dividends and the amount paid, if any, are subject to the discretion of the Board of Directors and depend on our earnings, financial condition, capital and surplus requirements and other factors the Board of Directors may consider relevant.

Share Repurchases

In October 2015, the Board of Directors approved a share repurchase plan of up to $2.0 billion. During the six months ended December 31, 2015, we repurchased 3.3 million ordinary shares at an average repurchase price of $151.59 per share, for a total of $500.0 million.