(Loss) Earnings Per Share

6 Months Ended

Jun. 30, 2020

A reconciliation between basic and diluted (loss) earnings per share is as follows (in thousands, except per share data):


	Quarter Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Net (Loss) Income attributable to Royal Caribbean Cruises Ltd. for basic and diluted earnings per share	$	(1,639,292)	$	472,830	(3,083,771)		722,511
Weighted-average common shares outstanding	209,385		209,531		209,241		209,427
Dilutive effect of stock-based awards	—		521		—		535
Diluted weighted-average shares outstanding	209,385		210,052		209,241		209,962
Basic (loss) earnings per share	$	(7.83)	$	2.26	$	(14.74)	$	3.45
Diluted (loss) earnings per share	$	(7.83)	$	2.25	$	(14.74)	$	3.44

There were approximately 421,000 and 662,000 antidilutive shares for the quarter and six month ended June 30, 2020, respectively. There were no antidilutive shares for the quarter and six month ended June 30, 2019.

Since the Company expects to settle in cash the principal outstanding under the 4.25% convertible notes that mature in 2023, we currently use the treasury stock method when calculating their potential dilutive effect, if any. While no shares of the convertible notes are currently convertible, they would be anti-dilutive for the three and six months ended June 30, 2020.