| Schedule of Calculation of Basic and Diluted Earnings (Loss) Per Share |
The following table presents the calculation of basic and diluted earnings (loss) per share of Class A common stock:
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Years ended December 31, |
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2024 |
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2023 |
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2022 |
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Numerator: |
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Net income (loss) |
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$ |
(98,696 |
) |
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$ |
(6,443 |
) |
|
$ |
1,101 |
|
Less: net (income) loss attributable to noncontrolling interests |
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|
33,747 |
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|
(14,133 |
) |
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|
20,740 |
|
Less: dividends on preferred shares |
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|
(7,809 |
) |
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|
(7,652 |
) |
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|
(13,000 |
) |
Less: deemed contribution (dividend) |
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— |
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49,970 |
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|
|
(31,185 |
) |
Add: deemed contribution from redemption of convertible preferred stock |
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— |
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12,679 |
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— |
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Net income (loss) attributable to XPO Inc. - basic |
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(72,758 |
) |
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34,421 |
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(22,344 |
) |
Add: dividends on preferred shares |
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— |
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7,652 |
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|
|
— |
|
Less: deemed (contribution) dividend |
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— |
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|
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(49,970 |
) |
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— |
|
Less: deemed contribution from redemption of convertible preferred stock |
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— |
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(12,679 |
) |
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— |
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Net loss attributable to XPO Inc. - diluted |
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$ |
(72,758 |
) |
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$ |
(20,576 |
) |
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$ |
(22,344 |
) |
Denominator: |
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Weighted average shares of Class A common stock outstanding - basic |
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|
31,999 |
|
|
|
31,742 |
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|
25,295 |
|
Effect of dilutive securities: |
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Convertible preferred stock |
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— |
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7,963 |
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— |
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Weighted average shares of Class A common stock outstanding - diluted |
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31,999 |
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|
39,705 |
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25,295 |
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Net earnings (loss) per share attributable to Class A common stock - basic |
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$ |
(2.27 |
) |
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$ |
1.08 |
|
|
$ |
(0.88 |
) |
Net loss per share attributable to Class A common stock - diluted |
|
$ |
(2.27 |
) |
|
$ |
(0.52 |
) |
|
$ |
(0.88 |
) |
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Anti-dilutive shares excluded from diluted loss per share of Class A common stock: |
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Restricted stock units |
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1,739 |
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1,477 |
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|
2,102 |
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Conversion of Class B common stock to Class A common stock |
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14,664 |
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16,491 |
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21,572 |
|
Convertible preferred stock |
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|
8,112 |
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— |
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|
13,889 |
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Treasury share options |
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|
75 |
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|
75 |
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|
75 |
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Rumble contingent shares |
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2,024 |
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|
2,024 |
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|
2,024 |
|
Profits interests, time vesting |
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— |
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1 |
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14 |
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