Earnings per share

12 Months Ended

Dec. 31, 2022

Basic EPS is calculated by dividing net (loss) income by the weighted average number of our ordinary shares outstanding, which excludes 4,837,602, 5,822,811 and 2,552,346 shares of unvested restricted stock as of December 31, 2022, 2021 and 2020, respectively. In general, for the calculation of diluted EPS, the weighted average of our ordinary shares outstanding for basic EPS is adjusted by the effect of dilutive securities provided under our equity compensation plans. Due to the reported loss for the year ended December 31, 2022, basic EPS was not adjusted by the effect of dilutive securities. The number of ordinary shares under our equity compensation plans which could dilute EPS in the future was 3,099,221 for the year ended December 31, 2022. The number of shares excluded from diluted shares outstanding was 122,237 for the year ended December 31, 2021, because the effect of including those shares in the calculation would have been anti-dilutive. Due to the reported loss for the year ended December 31, 2020, basic EPS was not adjusted by the effect of dilutive securities. The number of ordinary shares under our equity compensation plans which could dilute EPS in the future was 2,630,066 for the year ended December 31, 2020.

The computations of basic and diluted EPS for the years ended December 31, 2022, 2021 and 2020 were as follows:


	Year Ended December 31,
	2022		2021		2020
Net (loss) income for the computation of basic EPS	$	(726,041)	$	1,000,507	$	(298,566)
Weighted average ordinary shares outstanding—basic	240,486,849		146,421,188		127,743,828
Basic EPS	$	(3.02)	$	6.83	$	(2.34)


	Year Ended December 31,
	2022		2021		2020
Net (loss) income for the computation of diluted EPS	$	(726,041)	$	1,000,507	$	(298,566)
Weighted average ordinary shares outstanding—diluted	240,486,849		149,005,981		127,743,828
Diluted EPS	$	(3.02)	$	6.71	$	(2.34)

The computations of ordinary shares outstanding, excluding shares of unvested restricted stock, as of December 31, 2022, 2021 and 2020 were as follows:


	As of December 31,
	2022	2021	2020
	Number of ordinary shares
Ordinary shares issued	250,347,345	250,347,345	138,847,345
Treasury shares	(4,416,070)	(4,951,897)	(8,448,807)
Ordinary shares outstanding	245,931,275	245,395,448	130,398,538
Shares of unvested restricted stock	(4,837,602)	(5,822,811)	(2,552,346)
Ordinary shares outstanding, excluding shares of unvested restricted stock	241,093,673	239,572,637	127,846,192