| 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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Year ended December 31, |
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2025 |
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2024 |
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2023 |
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Numerator: |
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Net loss attributable to XPO Inc. |
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$ |
(53,671 |
) |
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$ |
(98,696 |
) |
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$ |
(6,443 |
) |
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Less: net loss (income) attributable to noncontrolling interests |
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19,880 |
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33,747 |
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(14,133 |
) |
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Less: dividends on preferred shares |
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(5,694 |
) |
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(7,809 |
) |
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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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Add: deemed contribution (dividend) from redemption of convertible preferred stock |
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(11,655 |
) |
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— |
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12,679 |
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Net income (loss) attributable to XPO Inc. - basic and diluted |
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(51,140 |
) |
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(72,758 |
) |
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34,421 |
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Add: dividends on preferred shares |
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— |
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— |
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7,652 |
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Less: deemed dividend (contribution) |
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— |
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— |
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(49,970 |
) |
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Less: deemed dividend (contribution) from redemption of convertible preferred stock |
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— |
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— |
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(12,679 |
) |
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Net loss attributable to XPO Inc. - diluted |
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$ |
(51,140 |
) |
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$ |
(72,758 |
) |
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$ |
(20,576 |
) |
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Denominator: |
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Weighted average shares of Class A common stock outstanding - basic and diluted |
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34,804 |
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31,999 |
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31,742 |
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Effect of dilutive securities: |
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Convertible preferred stock |
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— |
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— |
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7,963 |
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Weighted average shares of Class A common stock outstanding - diluted |
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34,804 |
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31,999 |
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39,705 |
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Net earnings (loss) per share attributable to Class A common stock - basic |
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$ |
(1.47 |
) |
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$ |
(2.27 |
) |
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$ |
1.08 |
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Net loss per share attributable to Class A common stock - diluted |
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$ |
(1.47 |
) |
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$ |
(2.27 |
) |
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$ |
(0.52 |
) |
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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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1,713 |
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1,739 |
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1,477 |
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Conversion of Class B common stock to Class A common stock |
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13,663 |
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14,664 |
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16,491 |
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Convertible preferred stock |
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— |
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8,112 |
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— |
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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 |
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Profits interests, time vesting |
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— |
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— |
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1 |
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