EARNINGS PER SHARE (Tables)

3 Months Ended

Mar. 31, 2023

Schedule of Computation of Basic and Diluted Earnings per Share

The following table sets forth the computation of the basic and diluted earnings per share attributable to Match Group shareholders:


	Three Months Ended March 31,
	2023				2022
	Basic		Diluted		Basic		Diluted

	(In thousands, except per share data)
Numerator
Net earnings	$	120,691	$	120,691	$	180,607	$	180,607
Net loss (earnings) attributable to noncontrolling interests	118		118		(74)		(74)
Impact from subsidiaries’ dilutive securities	—		(30)		—		(98)
Interest on dilutive Exchangeable Notes, net of income tax(a)	—		3,179		—		3,339






Net earnings attributable to Match Group, Inc. shareholders	$	120,809	$	123,958	$	180,533	$	183,774

Denominator
Weighted average basic shares outstanding	279,260		279,260		284,459		284,459
Dilutive securities(b)(c)	—		3,993		—		7,116
Dilutive shares from Exchangeable Notes, if-converted(a)	—		13,397		—		15,327
Denominator for earnings per share—weighted average shares(b)(c)	279,260		296,650		284,459		306,902

Earnings per share:


Earnings per share attributable to Match Group, Inc. shareholders	$	0.43	$	0.42	$	0.63	$	0.60

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(a)The Company uses the if-converted method for calculating the dilutive impact of the outstanding Exchangeable Notes. For the three months ended March 31, 2023, the Company adjusted net earnings

attributable to Match Group, Inc. shareholders for the cash interest expense, net of income taxes, incurred on the 2026 and 2030 Exchangeable Notes. Dilutive shares were also included for the same series of Exchangeable Notes. For the three months ended March 31, 2022, the Company adjusted net earnings from continuing operations attributable to Match Group, Inc. shareholders for the cash interest expense, net of income taxes, incurred on the 2022, 2026, and 2030 Exchangeable Notes. Dilutive shares were also included for the same series of Exchangeable Notes.

(b)If the effect is dilutive, weighted average common shares outstanding include the incremental shares that would be issued upon the assumed exercise of stock options, warrants, and subsidiary denominated equity and vesting of restricted stock units. For the three months ended March 31, 2023 and 2022, 17.3 million and 1.2 million potentially dilutive securities, respectively, are excluded from the calculation of diluted earnings per share because their inclusion would have been anti-dilutive.

(c)Market-based awards and performance-based restricted stock units (“PSUs”) are considered contingently issuable shares. Shares issuable upon exercise or vesting of market-based awards and PSUs are included in the denominator for earnings per share if (i) the applicable market or performance condition(s) has been met and (ii) the inclusion of the market-based awards and PSUs is dilutive for the respective reporting periods. For the three months ended March 31, 2023 and 2022, 2.6 million and 1.4 million shares, respectively, underlying market-based awards and PSUs, were excluded from the calculation of diluted earnings per share because the market or performance conditions had not been met.