Loss Per Share

12 Months Ended

Dec. 31, 2022

Note 12. Loss Per Share

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


	Year Ended December 31,
	2022		2021		2020
Net Loss attributable to Royal Caribbean Cruises Ltd. for basic and diluted loss per share	$	(2,155,962)	$	(5,260,499)	$	(5,797,462)
Weighted-average common shares outstanding	255,011		251,812		214,335
Diluted weighted-average shares outstanding	255,011		251,812		214,335
Basic loss per share	$	(8.45)	$	(20.89)	$	(27.05)
Diluted loss per share	$	(8.45)	$	(20.89)	$	(27.05)

Basic loss per share is computed by dividing Net loss attributable to Royal Caribbean Cruises Ltd. by the weighted-average number of common stock outstanding during each period. Diluted loss per share incorporates the incremental shares issuable upon the assumed exercise of stock options and conversion of potentially dilutive securities. If we have a net loss for the period, all potential common shares will be considered antidilutive, resulting in the same basic and diluted net loss per share amounts for those periods. There were approximately 31,027,815, 504,250 and 282,118 antidilutive shares for the years ended December 31, 2022, 2021 and 2020, respectively.

Effective January 1, 2022, ASU 2020-06 eliminated the treasury stock method and instead required the application of the if-converted method to calculate the impact of convertible instruments on diluted earnings per share when instruments may be settled in cash or shares. Under the if-converted method, shares related to our convertible notes, to the extent dilutive, are assumed to be converted into common stock at the beginning of the reporting period. The required use of the if-converted method for our convertible notes did not impact our diluted loss per share for the year ended December 31, 2022 as the if-converted calculation was antidilutive for the period. For further information regarding the adoption of ASU 2020-06, refer to Note 2. Summary of Significant Accounting Policies.