Earnings Per Share

12 Months Ended

Dec. 31, 2023

6. Earnings Per Share

On March 1, 2022, 26.1 million ZimVie common shares were distributed in connection with the distribution. For comparative purposes, and to provide a more meaningful calculation for weighted average shares, this amount was assumed to be outstanding throughout all periods presented up to and including March 1, 2022 in the calculation of basic weighted average shares. For periods prior to the distribution, it was assumed that there were no dilutive equity instruments, as there were no equity awards of ZimVie outstanding prior to the distribution.

The calculation of weighted average shares for the basic and diluted (loss) earnings per common share is as follows (in thousands, except per share data):


	For the Years Ended December 31,
	2023			2022			2021
Net (Loss) Earnings from Continuing Operations of ZimVie Inc.	$	(56,049	)	$	(46,904	)	$	16,397
Loss from discontinued operations, net of tax		(337,233	)		(16,977	)		(111,651	)
Net Loss of ZimVie Inc.	$	(393,282	)	$	(63,881	)	$	(95,254	)

Weighted average shares outstanding for basic net loss per share		26,454			26,083			26,050
Effect of dilutive stock options and other equity awards (1)		—			—			—
Weighted average shares outstanding for dilutive net loss per share		26,454			26,083			26,050


Basic (Loss) Earnings Per Common Share:
Continuing operations	$	(2.12	)	$	(1.80	)	$	0.63
Discontinued operations		(12.75	)		(0.65	)		(4.29	)
Net Loss	$	(14.87	)	$	(2.45	)	$	(3.66	)

Diluted (Loss) Earnings Per Common Share
Continuing operations	$	(2.12	)	$	(1.80	)	$	0.63
Discontinued operations		(12.75	)		(0.65	)		(4.29	)
Net Loss	$	(14.87	)	$	(2.45	)	$	(3.66	)

(1)

Since we incurred a net loss in each of the years ended December 31, 2023, 2022 and 2021, no dilutive stock options or other equity awards were included as diluted shares in those periods.

For the years ended December 31, 2023 and 2022, a weighted average of 2.8 million and 3.4 million, respectively, options to purchase shares of common stock were not included in the computation of diluted net loss per share as the exercise prices of these options were greater than the average market price of the common stock.