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Earnings per Share
 3 Months Ended
Mar. 31, 2026
Earnings Per Share [Abstract]  
Earnings per Share Earnings per Share
In the first quarter of 2026 and 2025, Class B ordinary shares contingently issuable for the EPAs were evaluated and included in the diluted earnings per share computation as certain conditions were met.

In the second quarter of 2025, we issued 24.5 million RP Holdings Class E Interests and an equal number of Royalty Pharma plc Class B ordinary shares which, upon vesting, are exchangeable on a one-for-one basis for Royalty Pharma plc Class A ordinary shares. We use the “if-converted” method to determine the potentially dilutive effect related to the RP Holdings Class E Interests.
The following table sets forth the reconciliation of the numerator and denominator used to calculate basic and diluted earnings per Class A ordinary share (in thousands, except per share amounts):

For the Three Months Ended March 31,
20262025
Numerator
Consolidated net income(1)
$468,256 $434,433 
Less: Net income attributable to the Continuing Investors Partnerships78,049 76,758 
Less: Net income attributable to the Legacy Investors Partnerships63,213 76,850 
Less: Net income attributable to the Founder’s Equity(2)
15,894 41,476 
Less: Net income attributable to the RP Holdings Class E Interests Holders16,410 — 
Net income attributable to Royalty Pharma plc - basic294,690 239,349 
Add: Reallocation of net income attributable to the Continuing Investors Partnerships from the assumed exchanges of Class B ordinary shares78,049 76,758 
Add: Reallocation of net income attributable to the Holders of RP Holdings Class E Interests from the assumed exchanges of eligible Class B ordinary shares2,484 — 
Net income attributable to Royalty Pharma plc - diluted$375,223 $316,107 
Denominator
Weighted average Class A ordinary shares outstanding - basic436,790 435,480 
Add: Dilutive effects as shown separately below
Assumed exchanges of Class B ordinary shares by the Continuing Investors Partnerships115,840 141,974 
Unvested RSUs163 48 
Shares contingently issuable for the Equity Performance Awards358 600 
Assumed exchanges of eligible Class B ordinary shares by the Holders of RP Holdings Class E Interests3,686 — 
Weighted average Class A ordinary shares outstanding - diluted556,837 578,102 
Earnings per Class A ordinary share - basic$0.67 $0.55 
Earnings per Class A ordinary share - diluted$0.67 $0.55 
(1)Consolidated net income for 2025 has been recast as a result of the adoption of ASU 2025-07. See Note 2–Summary of Significant Accounting Policies for further details.
(2)Amounts for 2025 includes Mr. Legorreta’s retained EPAs and employees’ participation in the EPAs, which were considered part of Founder’s Equity prior to the closing of the Internalization.