v3.10.0.1
Earnings or Loss per Share
 6 Months Ended
Jun. 30, 2018
Earnings Per Share [Abstract]  
Earnings or Loss per Share Earnings or Loss per Share

Basic earnings or loss per share (EPS) is computed by dividing net earnings or loss by the weighted average number of shares outstanding for the period. Diluted EPS presents the dilutive effect, if any, on a per share basis of potential shares (e.g., options, SARs, RSUs and PSUs) as if they had been exercised, vested or converted at the beginning of the periods presented.

The details of our net earnings (loss) from continuing operations attributable to Liberty Global shareholders are set forth below:
 
Three months ended
 
Six months ended
 
June 30,
 
June 30,
 
2018
 
2017
 
2018
 
2017
 
in millions
 
 
 
 
 
 
 
 
Earnings (loss) from continuing operations
$
668.7

 
$
(761.3
)
 
$
(696.3
)
 
$
(1,126.8
)
Net earnings from continuing operations attributable to noncontrolling interests
(36.1
)
 
(4.8
)
 
(42.2
)
 
(39.8
)
Net earnings (loss) from continuing operations attributable to Liberty Global shareholders
$
632.6

 
$
(766.1
)
 
$
(738.5
)
 
$
(1,166.6
)


Our weighted average Liberty Global Share outstanding are set forth below:
 
Three months ended
 
Six months ended
 
June 30,
 
June 30,
 
2018
 
2017
 
2018
 
2017
 
 
Weighted average ordinary shares outstanding (Liberty Global Shares):
 
 
 
 
 
 
 
Basic
788,815,021

 
853,612,217

 
798,215,803

 
871,936,668

Diluted
791,920,021

 
853,612,217

 
798,215,803

 
871,936,668



We reported losses from continuing operations attributable to Liberty Global shareholders for the six months ended June 30, 2018 and the three and six months ended June 30, 2017. Therefore, the potentially dilutive effect at June 30, 2018 and 2017 of the following items were not included in the computation of diluted loss from continuing operations attributable to Liberty Global shareholders per share for such periods because their inclusion would have been anti-dilutive to the computation or, in the case of certain PSUs, because such awards had not yet met the applicable performance criteria: (i) the aggregate number of outstanding options, SARs and RSUs of 59.5 million and 55.5 million, respectively, and (ii) the aggregate number of PSUs of 5.8 million and 7.3 million, respectively.

The details of the calculations of our basic and diluted EPS from continuing operations for the three months ended June 30, 2018 are set forth in the following table:
Numerator:
 
Net earnings from continuing operations attributable to Liberty Global shareholders (basic and diluted EPS computation) (in millions)
$
632.6

 
 
Denominator (Liberty Global Shares):
 
Weighted average ordinary shares (basic EPS computation)
788,815,021

Incremental shares attributable to the assumed exercise of outstanding options, SARs and the release of restricted shares and share units upon vesting (treasury stock method)
3,105,000

Weighted average ordinary shares outstanding (diluted EPS computation)
791,920,021



A total of 41.7 million options, SARs and RSUs were excluded from the calculation of diluted earnings per share set forth in the table above because their effect would have been anti-dilutive. In addition, at June 30, 2018, 5.8 million PSUs were excluded from the calculation of diluted earnings per share because such awards had not yet met the applicable performance criteria.