(Loss) Income per Share

6 Months Ended

Oct. 28, 2023

Earnings Per Share [Abstract]

(Loss) Income per Share

Note 10. (Loss) Income per Share

Basic (loss) income per share attributable to Methode is calculated by dividing net (loss) income attributable to Methode by the weighted average number of common shares outstanding for the applicable period, but excludes any contingently issued shares where the contingency has not been resolved. The weighted average number of common shares used in the diluted (loss) income per share calculation is determined using the treasury stock method which includes the effect of all potential dilutive common shares outstanding during the period.

The following table sets forth the computation of basic and diluted (loss) income per share attributable to Methode:

	Three Months Ended					Six Months Ended
	October 28, 2023			October 29, 2022		October 28, 2023			October 29, 2022
Numerator:
Net (loss) income attributable to Methode (in millions)	$	(55.3	)	$	27.6	$	(54.4	)	$	49.1
Denominator:
Denominator for basic income per share - weighted average shares outstanding and vested/unissued restricted stock units		35,671,677			36,126,132		35,679,776			36,346,054
Dilutive potential common shares		—			715,699		—			682,762
Denominator for diluted income per share		35,671,677			36,841,831		35,679,776			37,028,816
(Loss) income per share attributable to Methode:
Basic	$	(1.55	)	$	0.76	$	(1.52	)	$	1.35
Diluted	$	(1.55	)	$	0.75	$	(1.52	)	$	1.33
Number of anti-dilutive potentially issuable shares excluded from diluted common shares outstanding		1,543,183			940,510		1,536,206			934,522

In the three and six months ended October 28, 2023, all potential common shares issuable for stock options and RSUs were excluded from the calculation of diluted loss per share, as the effect of including them would have been anti-dilutive. The dilutive effect of potential common shares issuable for stock options and RSUs on the weighted-average number of common shares outstanding would have been approximately 584,000 and 589,000 common shares for the three and six months ended October 28, 2023, respectively.