v3.25.2
EARNINGS PER SHARE
6 Months Ended
Jun. 30, 2025
EARNINGS PER SHARE  
EARNINGS PER SHARE

NOTE 6—EARNINGS PER SHARE

Basic earnings per ordinary share (“basic EPS”) is computed by dividing net income available to ordinary shareholders by the weighted average number of the Company’s ordinary shares outstanding for the applicable period. Diluted earnings per ordinary share (“diluted EPS”) is calculated using net income available to ordinary shareholders divided by diluted weighted average ordinary shares outstanding during each period, which includes unvested RSUs, option awards, and PSUs. Diluted EPS considers the impact of potentially dilutive securities except in periods in which there is a net loss because the inclusion of the potential ordinary shares would have an anti-dilutive effect.

The following table presents basic EPS and diluted EPS for the three and six months ended June 30, 2025 and 2024.

Three Months Ended

Six Months Ended

June 30, 

June 30, 

(in millions, except per share data)

    

2025

    

2024

    

2025

    

2024

Earnings:

Net loss

$

(105.5)

$

(67.8)

$

(184.5)

$

(143.3)

Shares:

Weighted average ordinary shares outstanding

 

35.7

 

35.3

 

35.6

 

35.3

Dilutive effect of RSUs, option awards, and PSUs(1)

 

 

 

 

Diluted weighted average ordinary shares outstanding

 

35.7

 

35.3

 

35.6

 

35.3

Loss per share:

Loss per share‒basic

$

(2.95)

$

(1.92)

$

(5.18)

$

(4.06)

Loss per share‒diluted

$

(2.95)

$

(1.92)

$

(5.18)

$

(4.06)

(1)Refer to Note 15 for discussion of RSUs, option awards, and PSUs granted to certain Company directors and employees. As the Company recorded a net loss for the three and six months ended June 30, 2025 and June 30, 2024, potential shares related to equity-based awards have been excluded from the calculation of diluted EPS, as doing so would be anti-dilutive.