EARNINGS PER SHARE

9 Months Ended

Sep. 30, 2022

EARNINGS PER SHAREBasic net income per share is calculated by dividing net income attributable to Aptar by the weighted-average number of common shares outstanding during the period. Diluted net income per share is calculated by dividing the net income attributable to Aptar by the weighted-average number of common and common equivalent shares outstanding during the applicable period. The difference between basic and diluted earnings per share is attributable to stock-based compensation awards. Stock-based compensation awards for which total employee proceeds exceed the average market price over the applicable period would have an antidilutive effect on earnings per share, and accordingly, are excluded from the calculation of diluted earnings per share. The reconciliation of basic and diluted earnings per share for the three and nine months ended September 30, 2022 and 2021 is as follows:



	Three Months Ended
	September 30, 2022				September 30, 2021
	Diluted		Basic		Diluted		Basic
Consolidated operations
Income available to common stockholders	$	54,244	$	54,244	$	47,260	$	47,260

Average equivalent shares
Shares of common stock	65,322		65,322		65,900		65,900
Effect of dilutive stock-based compensation
Stock options	884		—		1,464		—
Restricted stock	375		—		437		—
Total average equivalent shares	66,581		65,322		67,801		65,900
Net income per share	$	0.81	$	0.83	$	0.70	$	0.72


	Nine Months Ended
	September 30, 2022				September 30, 2021
	Diluted		Basic		Diluted		Basic
Consolidated operations
Income available to common stockholders	$	180,292	$	180,292	$	186,488	$	186,488

Average equivalent shares
Shares of common stock	65,446		65,446		65,652		65,652
Effect of dilutive stock-based compensation
Stock options	1,034		—		1,688		—
Restricted stock	345		—		459		—
Total average equivalent shares	66,825		65,446		67,799		65,652
Net income per share	$	2.70	$	2.75	$	2.75	$	2.84