(Loss) Per Share

9 Months Ended

Sep. 30, 2021

Note 5. (Loss) Per Share

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


	Quarter Ended September 30,				Nine Months Ended September 30,
	2021		2020		2021		2020
Net (Loss) attributable to Royal Caribbean Cruises Ltd. for basic and diluted loss per share	$	(1,424,554)	$	(1,346,756)	$	(3,903,531)	$	(4,430,527)
Weighted-average common shares outstanding	254,713		214,163		250,808		210,894
Diluted weighted-average shares outstanding	254,713		214,163		250,808		210,894
Basic (loss) per share	$	(5.59)	$	(6.29)	$	(15.56)	$	(21.01)
Diluted (loss) per share	$	(5.59)	$	(6.29)	$	(15.56)	$	(21.01)

There were approximately 339,835 and 433,705 antidilutive shares for the quarter and nine months ended September 30, 2021, respectively, compared to 192,981 and 265,606 for the quarter and nine months ended September 30, 2020, respectively.

Since the Company expects to settle in cash the principal outstanding on the convertible notes that mature in 2023, we currently use the treasury stock method when calculating their potential dilutive effect, if any. While the criteria for conversion of the convertible notes has not been met, the shares that would be issued upon conversion of the notes would be antidilutive for the quarter and nine months ended September 30, 2021.