EARNINGS PER SHARE

12 Months Ended

Dec. 31, 2023

NOTE 10—EARNINGS PER SHARE

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


	Years Ended December 31,
	2023				2022				2021
	Basic		Diluted		Basic		Diluted		Basic		Diluted

	(In thousands, except per share data)
Numerator
Net earnings from continuing operations	$	651,472	$	651,472	$	362,130	$	362,130	$	276,045	$	276,045
Net loss attributable to noncontrolling interests	67		67		2,027		2,027		1,169		1,169
Impact from subsidiaries' dilutive securities of continuing operations	—		(81)		—		(222)		—		(993)
Interest on dilutive Exchangeable Notes, net of income tax(a)	—		12,684		—		4,151		—		6,616
Net earnings from continuing operations attributable to Match Group, Inc. shareholders	$	651,539	$	664,142	$	364,157	$	368,086	$	277,214	$	282,837




Net (loss) earnings from discontinued operations attributable to shareholders	—		—		(2,211)		(2,211)		509		509
Net earnings attributable to Match Group, Inc. shareholders	$	651,539	$	664,142	$	361,946	$	365,875	$	277,723	$	283,346

Denominator
Weighted average basic shares outstanding	275,773		275,773		282,564		282,564		275,004		275,004
Dilutive securities(b)(c)	—		4,114		—		5,020		—		13,866
Dilutive shares from Exchangeable Notes, if-converted(a)	—		13,397		—		7,631		—		15,970
Denominator for earnings per share—weighted average shares(b)(c)	275,773		293,284		282,564		295,215		275,004		304,840

Earnings (loss) per share:
Earnings per share from continuing operations	$	2.36	$	2.26	$	1.29	$	1.25	$	1.01	$	0.93
(Loss) earnings per share from discontinued operations, net of tax	$	—	$	—	$	(0.01)	$	(0.01)	$	0.00	$	0.00
Earnings per share attributable to Match Group, Inc. shareholders	$	2.36	$	2.26	$	1.28	$	1.24	$	1.01	$	0.93

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(a)The Company uses the if-converted method for calculating the dilutive impact of the outstanding Exchangeable Notes. For the year ended December 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 years ended December 31, 2022 and 2021, 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 and 2026 Exchangeable Notes and dilutive

shares were included for the same set of notes. For the years ended December 31, 2022 and 2021, the 2030 Exchangeable Notes were not more dilutive under the if-converted method and therefore no adjustment to net earnings attributable to Match Group, Inc. for cash interest expense related to the 2030 Exchangeable Notes was made for those years, and the weighted average 6.8 million shares related to the 2030 Exchangeable Notes are excluded from dilutive securities for both years.

(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 years ended December 31, 2023, 2022, and 2021, 15.9 million, 16.0 million, and 0.9 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 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 years ended December 31, 2023, 2022, and 2021, 3.2 million, 1.6 million, and 1.0 million market-based awards and PSUs, respectively, were excluded from the calculation of diluted earnings per share because the market or performance conditions had not been met.