INCOME (LOSS) PER SHARE

12 Months Ended

Dec. 31, 2023

The Company calculates basic net income per share using, as the denominator, the weighted average number of common shares outstanding during the period. Diluted net income per share uses, as its denominator, the weighted average number of common shares outstanding during the period plus the effect of potential dilutive shares during the period.

Potential dilutive common shares include stock options, RSUs, and convertible notes for periods in which the Company has reported net income (loss).

The calculations of basic and diluted net income per share attributable to SSR Mining shareholders for the years ended December 31 were based on the following (in thousands):


	Year Ended December 31,
	2023		2022		2021
Net income (loss)	$	(120,225)	$	210,428	$	425,922
Net (income) loss attributable to non-controlling interest		22,218		(16,288)		(57,846)
Net income (loss) attributable to SSR Mining shareholders		(98,007)		194,140		368,076
Interest saving on 2019 Notes, net of tax		—		4,910		4,889
Net income (loss) used in the calculation of diluted net income per share	$	(98,007)	$	199,050	$	372,965

Weighted average number of common shares issued		204,714		209,883		215,993
Adjustments for dilutive instruments:
Stock options		—		5		38

Restricted share units		—		39		58
2019 Notes		—		12,554		12,152
Diluted weighted average number of shares outstanding	$	204,714	$	222,481	$	228,241

Net income (loss) per share attributable to SSR Mining shareholders
Basic	$	(0.48)	$	0.92	$	1.70
Diluted	$	(0.48)	$	0.89	$	1.63

For the year ended December 31, 2023, $4.9 million of interest saving on convertible notes, net of tax, and 12,867 shares were excluded from the diluted income per common share calculation because the Company incurred a net loss and the effect would be antidilutive.