Earnings (Loss) Per [Ordinary] Share

9 Months Ended

Sep. 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						Nine Months Ended
	September 30,						September 30,
(In thousands)	2024			2023 (1)			2024			2023 (1)
Numerator:
Net income from continuing operations	$	92,795		$	91,554		$	226,401		$	358,605
Net loss from discontinued operations		(414	)		(43,796	)		(5,834	)		(115,627	)
Net income	$	92,381		$	47,758		$	220,567		$	242,978
Denominator:
Weighted average number of ordinary shares outstanding		163,368			166,607			166,546			165,996
Effect of dilutive securities:
Stock options		1,310			1,682			1,293			1,643
Restricted stock unit awards		2,347			3,614			2,357			3,342
Dilutive ordinary share equivalents		3,657			5,296			3,650			4,985
Shares used in calculating diluted earnings (loss) per ordinary share		167,025			171,903			170,196			170,981

(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				Nine Months Ended
	September 30,				September 30,
(In thousands)	2024		2023		2024		2023
Stock options		11,047		12,029		12,311		12,422
Restricted stock unit awards		1,276		1,317		2,401		2,389
Total		12,323		13,346		14,712		14,811