Earnings (loss) Per Share

6 Months Ended

Jun. 30, 2020

Basic and diluted earnings (loss) per share are calculated using the following numerators and denominators:


	For the three months ended June 30,						For the six months ended June 30,
	2020		2019		2020		2019
Basic earnings per share computation
Net income (loss) attributable to common shareholders of Cronos Group	$	(106,977)	$	185,999	$	(30,937)	$	500,090
Weighted average number of common shares outstanding	349,075,408		334,665,873		348,946,439		317,940,749
Basic earnings per share	$	(0.31)	$	0.56	$	(0.09)	$	1.57
Diluted earnings per share computation⁽ⁱ⁾
Net income (loss) used in the computation of basic earnings per share	$	(106,977)	$	185,999	$	(30,937)	$	500,090
Adjustment for gain (loss) on revaluation of derivative liabilities	(729)		(126,032)		(729)		(350,758)
Net income (loss) used in the computation of diluted income per share	$	(107,706)	$	59,967	$	(31,666)	$	149,332

Weighted average number of common shares outstanding used in the computation of basic earnings per share	349,075,408		334,665,873		348,946,439		317,940,749
Dilutive effect of warrants ⁽ⁱ⁾	—		19,287,262		—		21,239,056
Dilutive effect of stock options ⁽ⁱ⁾	—		10,992,464		—		11,291,914
Dilutive effect of restricted share units ⁽ⁱ⁾	—		—		—		—
Dilutive effect of Altria Warrant ⁽ⁱ⁾	—		9,100,465		—		13,633,605
Dilutive effect of Top-up Rights – exercised and exercisable fixed price ⁽ⁱ⁾	—		630,531		—		766,769
Weighted average number of common shares for computation of diluted income (loss) per share	349,075,408		374,676,595		348,946.439		364,872,093
Diluted earnings per share	$	(0.31)	$	0.16	$	(0.09)	$	0.41

⁽ⁱ⁾ In computing diluted earnings per share, incremental common shares are not considered in periods in which a net loss is reported, as the inclusion of the common share equivalents would be anti-dilutive.

The following securities were not included in the computation of diluted shares outstanding because the effect would be anti-dilutive or because conditions for contingently issuable shares were not satisfied at the end of the reporting periods.


	Three months ended June 30,			Six months ended June 30,
	2020	2019	2020	2019
Ginkgo Equity Milestones	14,674,904	14,674,904	14,674,904	14,674,904
Pre-emptive Rights	12,006,740	12,006,740	12,006,740	12,006,740
Top-up Rights – fixed price	26,686,413	—	26,686,413	—
Top-up Rights – market price	1,941,349	25,150,434	1,941,349	25,150,434
Altria Warrant	77,752,533	1,076,553	77,752,533	1,076,553
Stock options	10,495,235	51,830	10,547,256	51,830
Warrants	17,536,558	—	17,521,903	—
Restricted share units	1,012,249	—	1,012,249	—
Total anti-dilutive securities	162,091,326	52,960,461	162,158,002	52,960,461