v3.25.2
Net Income (Loss) per Share
 6 Months Ended
Jun. 30, 2025
Earnings Per Share [Abstract]  
Net Income (Loss) per Share Net Income (Loss) per Share
The Company applies the two-class method to calculate its basic and diluted net loss per share as Class A subordinate voting shares and Class B restricted voting shares are participating securities with equal participation rights and are entitled to receive dividends on a share for share basis. The Company uses the treasury stock method and if-converted method for calculating the effect of dilutive potential common stock from employee stock options and employee RSUs and from its Notes, respectively.
The following table summarizes the reconciliation of the basic weighted average number of shares outstanding and the diluted weighted average number of shares outstanding:
Three months ended June 30,Six months ended June 30,
2025202420252024
(in US $ millions, except share and per share amounts)
Numerator:
Net income (loss)906 171 224 (102)
Denominator:
Basic weighted average number of shares outstanding1,297,746,0501,288,900,1831,296,593,3421,288,138,451
Weighted average effect of dilutive securities:
Stock options3,290,1023,613,9303,700,679—
Restricted share units1,557,363996,5481,768,333—
Convertible senior notes6,388,4806,388,4806,388,480—
Deferred share units11,84313,93812,705—
Diluted weighted average number of shares1,308,993,8381,299,913,0791,308,463,5391,288,138,451
Net income (loss) per share:
Basic$0.70 $0.13 $0.17 $(0.08)
Diluted$0.69 $0.13 $0.17 $(0.08)
Common stock equivalents excluded from net income (loss) per diluted share because they are anti-dilutive:
Stock options675,11397,134 458,12215,600,685 
Restricted share units145,745406,808 195,8076,671,465 
Convertible senior notes—— —6,388,480 
Deferred share units102— 9514,162 
820,960503,942 654,02428,674,792