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Earnings per Share | 3 Months Ended
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Mar. 31, 2023
Earnings Per Share [Abstract] |
Earnings per Share | Earnings Per Share Basic net earnings per ordinary share from continuing operations (“EPS”) is calculated by taking Net income (loss) available to ordinary shareholders divided by the weighted average number of ordinary shares outstanding for the applicable period. Diluted net EPS is computed by taking net earnings adjusted for the effect of the fair value of Private Placement Warrants divided by the weighted average number of ordinary shares outstanding increased by the number of additional shares which have a dilutive effect. Potential ordinary shares on a gross basis of 17.8 million and 26.9 million options, RSUs, PSUs, and Warrants related to the 2019 Incentive Award Plan were excluded from diluted EPS for the three months ended March 31, 2023 and 2022, respectively, as their inclusion would have been anti-dilutive or their performance metric was not met. See Note 11 - Shareholders’ Equity and Note 12 - Share-based Compensation for additional information. The potential dilutive effect of our MCPS outstanding during the period was calculated using the if-converted method assuming the conversion as of the earliest period reported or at the date of issuance, if later. The resulting weighted-average ordinary shares of 55.3 million related to our MCPS are not included in the dilutive weighted-average ordinary shares outstanding calculation for the three months ended March 31, 2023, as their effect would be anti-dilutive. The basic and diluted EPS computations for our ordinary shares are calculated as follows:
| Three Months Ended March 31,
| 2023 |  | 2022
Basic EPS |  |  |
Net income available to ordinary shareholders | $ | 43.5 |  |  | $ | 69.5 |
Dividends on preferred shares | 18.8 |  |  | 18.7 |
Net income attributable to ordinary shares | $ | 24.7 |  |  | $ | 50.8 |
Basic weighted-average number of ordinary shares outstanding | 674.8 |  |  | 682.5 |
Basic EPS | $ | 0.04 |  |  | $ | 0.07 |
Diluted EPS |  |  |
Net income attributable to ordinary shares | $ | 24.7 |  |  | $ | 50.8 |
Change in fair value of private placement warrants | — |  |  | (94.9) |
Net income (loss) attributable to ordinary shares, diluted | $ | 24.7 |  |  | $ | (44.1) |
Denominator: |  |  |
Shares used in computing net income (loss) attributable to per share to ordinary shareholders, basic | 674.8 |  |  | 682.5 |
Weighted-average effect of potentially dilutive shares to purchase ordinary shares | 4.5 |  |  | 5.5 |
Diluted weighted-average number of ordinary shares outstanding | 679.3 |  |  | 688.0 |
Diluted EPS | $ | 0.04 |  |  | $ | (0.06) |

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