Earnings (Loss) Per Share

12 Months Ended

Dec. 31, 2024

13. EARNINGS (LOSS) PER SHARE

Basic earnings (loss) per ordinary share from continuing operations is calculated based upon net income (loss) from continuing operations available to holders of ordinary shares divided by the weighted average number of ordinary shares outstanding. Basic loss per ordinary share from discontinued operations is calculated based upon net loss from discontinued operations 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 from continuing operations and discontinuing operations, the Company utilizes the treasury stock method and adjusts the weighted average number of ordinary shares outstanding for the potential dilutive effect of outstanding ordinary share equivalents such as stock options and RSUs.


	Year Ended December 31,
(In thousands)	2024			2023			2022 (1)
Numerator:
Net income (loss) from continuing operations	$	372,138		$	519,157		$	(33,152	)
Net loss from discontinued operations		(5,068	)		(163,400	)		(125,115	)
Net income (loss)	$	367,070		$	355,757		$	(158,267	)
Denominator:
Weighted average number of ordinary shares outstanding		165,392			166,223			163,742
Effect of dilutive securities:
Stock options		1,377			1,093			—
Restricted stock unit awards		2,429			2,414			—
Dilutive ordinary share equivalents		3,806			3,507			—
Shares used in calculating diluted earnings (loss) per ordinary share		169,198			169,730			163,742

(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 income (loss) per share calculation because the effect would have been anti-dilutive:


	Year Ended December 31,
(In thousands)	2024		2023		2022 (1)
Stock options		11,517		12,422		12,777
Restricted stock unit awards		2,391		2,378		5,040
Total		13,908		14,800		17,817

(1)

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