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(Loss) Income per Share | 9 Months Ended
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Jan. 27, 2024
Earnings Per Share [Abstract] |
(Loss) Income per Share | Note 10. (Loss) Income per Share Basic (loss) income per share attributable to Methode is calculated by dividing net (loss) income attributable to Methode by the weighted average number of common shares outstanding for the applicable period, but excludes any contingently issued shares where the contingency has not been resolved. The weighted average number of common shares used in the diluted (loss) income per share calculation is determined using the treasury stock method which includes the effect of all potential dilutive common shares outstanding during the period. The following table sets forth the computation of basic and diluted (loss) income per share attributable to Methode:
|  | Three Months Ended |  |  | Nine Months Ended |
|  | January 27, 2024 |  |  | January 28, 2023 |  |  | January 27, 2024 |  |  | January 28, 2023 |
Numerator: |  |  |  |  |  |  |  |  |  |  |  |
Net (loss) income attributable to Methode (in millions) |  | $ | (11.6 | ) |  | $ | 19.9 |  |  | $ | (66.0 | ) |  | $ | 69.0 |
Denominator: |  |  |  |  |  |  |  |  |  |  |  |
Denominator for basic income per share - weighted average shares outstanding and vested/unissued restricted stock units |  |  | 35,327,995 |  |  |  | 35,757,465 |  |  |  | 35,562,513 |  |  |  | 36,149,858 |
Dilutive potential common shares |  |  | — |  |  |  | 819,530 |  |  |  | — |  |  |  | 728,351 |
Denominator for diluted income per share |  |  | 35,327,995 |  |  |  | 36,576,995 |  |  |  | 35,562,513 |  |  |  | 36,878,209 |
(Loss) income per share attributable to Methode: |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | (0.33 | ) |  | $ | 0.56 |  |  | $ | (1.86 | ) |  | $ | 1.91 |
Diluted |  | $ | (0.33 | ) |  | $ | 0.54 |  |  | $ | (1.86 | ) |  | $ | 1.87 |
Number of anti-dilutive potentially issuable shares excluded from diluted common shares outstanding |  |  | 1,319,577 |  |  |  | 949,674 |  |  |  | 1,463,996 |  |  |  | 939,573 |
In the three and nine months ended January 27, 2024, all potential common shares issuable for stock options and RSUs were excluded from the calculation of diluted loss per share, as the effect of including them would have been anti-dilutive. The dilutive effect of potential common shares issuable for stock options and RSUs on the weighted-average number of common shares outstanding would have been approximately 503,000 and 560,000 common shares for the three and nine months ended January 27, 2024, respectively.

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