(Loss) Earnings Per Share

12 Months Ended

Dec. 31, 2021

Note 12. (Loss) Earnings Per Share

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


	Year Ended December 31,
	2021		2020		2019
Net (Loss) Income attributable to Royal Caribbean Cruises Ltd. for basic and diluted (loss) earnings per share	$	(5,260,499)	$	(5,797,462)	$	1,878,887
Weighted-average common shares outstanding	251,812		214,335		209,405
Dilutive effect of stock-based awards	—		—		525
Diluted weighted-average shares outstanding	251,812		214,335		209,930
Basic (loss) earnings per share	$	(20.89)	$	(27.05)	$	8.97
Diluted (loss) earnings per share	$	(20.89)	$	(27.05)	$	8.95

There were approximately 504,250 and 282,118 antidilutive shares for the years ended December 31, 2021 and 2020, respectively. There were no antidilutive shares for the year ended December 31, 2019.

While the criteria for conversion of our convertible notes has not been met, the shares that would be issued upon conversion of the notes would be antidilutive for the year ended December 31, 2021.