Earnings Per Share

12 Months Ended

Dec. 31, 2024

Note 13. Earnings Per Share

Basic earnings per share is computed using the weighted-average number of common shares outstanding during the period. Diluted earnings per share is computed using the weighted-average number of common shares outstanding during the period, plus the dilutive effect of outstanding options, using the treasury stock method and the average market price of the Company’s common stock during the applicable period. Certain shares related to some of the Company’s outstanding employee share awards were excluded from the computation of diluted earnings per share because they were antidilutive in the periods presented but could be dilutive in the future. Performance-based market condition share awards are considered contingently issuable shares, which would be included in the denominator for earnings per share if the applicable market conditions have been achieved, and the inclusion of any performance-based market condition share awards is dilutive for the respective reporting periods.

Diluted earnings per share is computed using the weighted-average number of common shares outstanding during the period, plus the dilutive effect of outstanding options, using the treasury stock method and the average market price of the Company's common stock during the applicable period. Certain shares related to some of the Company's outstanding employee share awards were excluded from the computation of diluted earnings per share because they were antidilutive in the periods presented but could be dilutive in the future. Performance-based market condition share awards are considered contingently issuable shares, which would be included in the denominator for earnings per share if the applicable market conditions have been achieved, and the inclusion of any performance based market condition share awards is dilutive for the respective reporting periods. For the years ended December 31, 2024, 2023 and 2022, unvested performance-based market condition share awards were excluded from the calculation of diluted earnings per share because the market conditions had not been met. There were no 7% Series A Redeemable Convertible Participating Preferred Stock shares outstanding at December 31, 2024. These preferred stock shares were anti-dilutive for the years ended December 31, 2024, 2023 and 2022 and are therefore excluded from the diluted (loss) income per common share calculation.

The details of the computation of basic and diluted (loss) income per common share are as follows:


	Year Ended December 31,
(dollars in millions, share data in thousands except earnings per share)	2024			2023			2022
Net income (loss) and comprehensive income (loss) attributable to Emerald Holding, Inc.	$	2.2		$	(8.2	)	$	130.8
Accretion to redemption value of redeemable convertible preferred stock		(12.7	)		(42.0	)		(38.8	)
Participation rights on if-converted basis		—			—			(60.2	)
Net (loss) income and comprehensive (loss) income attributable to Emerald Holding, Inc. common stockholders	$	(10.5	)	$	(50.2	)	$	31.8
Weighted average common shares outstanding		156,592			63,959			69,002
Basic (loss) income per share	$	(0.07	)	$	(0.78	)	$	0.46
Net (loss) income and comprehensive (loss) income attributable to Emerald Holding, Inc. common stockholders	$	(10.5	)	$	(50.2	)	$	31.8
Diluted effect of stock options		—			—			146
Diluted weighted average common shares outstanding		156,592			63,959			69,148
Diluted (loss) income per share	$	(0.07	)	$	(0.78	)	$	0.46
Anti-dilutive employee share awards excluded from diluted earnings per share calculation		10,082			19,704			14,858