Earnings (Loss) Per [Ordinary] Share

6 Months Ended

Jun. 30, 2024

15. EARNINGS (LOSS) PER ORDINARY SHARE

Basic earnings (loss) per ordinary share is calculated based upon net income (loss) available to holders of ordinary shares divided by the weighted average number of ordinary shares outstanding. For the calculation of diluted earnings (loss) per ordinary share, the Company utilizes the treasury stock method and adjusts the weighted average number of ordinary shares outstanding for the effect of outstanding ordinary share equivalents such as stock options and restricted stock unit awards.


	Three Months Ended						Six Months Ended
	June 30,						June 30,
(In thousands)	2024			2023 (1)			2024			2023 (1)
Numerator:
Net income from continuing operations	$	94,658		$	279,101		$	133,606		$	267,051
Net loss from discontinued operations		(3,300	)		(42,036	)		(5,420	)		(71,831	)
Net income	$	91,358		$	237,065		$	128,186		$	195,220
Denominator:
Weighted average number of ordinary shares outstanding		168,321			166,279			168,152			165,686
Effect of dilutive securities:
Stock options		839			1,896			1,284			1,634
Restricted stock unit awards		1,817			3,378			2,524			3,427
Dilutive ordinary share equivalents		2,656			5,274			3,808			5,061
Shares used in calculating diluted earnings (loss) per ordinary share		170,977			171,553			171,960			170,747

(1)

Prior period amounts have been retrospectively adjusted to reflect the effects of the Separation.

The following potential ordinary share equivalents were not included in the net earnings (loss) per ordinary share calculation because the effect would have been anti-dilutive:


	Three Months Ended				Six Months Ended
	June 30,				June 30,
(In thousands)	2024		2023		2024		2023
Stock options		14,049		12,138		12,339		12,288
Restricted stock unit awards		2,765		1,180		2,507		3,024
Total		16,814		13,318		14,846		15,312