| Schedule of Calculation of Basic and Diluted Earnings Per Share |
The following table presents the calculation of basic and diluted earnings per share for the three and six months ended June 30, 2022:
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Three Months
Ended
June 30, 2022 |
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Six Months
Ended
June 30, 2022 |
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Numerator: |
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|
|
|
|
|
Net income |
|
$ |
31,477 |
|
|
$ |
16,298 |
|
Less: net income attributable to noncontrolling interests |
|
|
(72,592 |
) |
|
|
(41,998 |
) |
Less: dividends on preferred shares |
|
|
(3,250 |
) |
|
|
(6,500 |
) |
Add: deemed contribution |
|
|
127,821 |
|
|
|
76,890 |
|
Net income attributable to XPO Inc. - basic |
|
$ |
83,456 |
|
|
$ |
44,690 |
|
Add: net income attributable to non-controlling interests |
|
|
72,592 |
|
|
|
41,998 |
|
Add: dividends on preferred shares |
|
|
3,250 |
|
|
|
6,500 |
|
Less: deemed contributions |
|
|
(127,821 |
) |
|
|
(76,890 |
) |
Net income attributable to XPO Inc. - diluted |
|
$ |
31,477 |
|
|
$ |
16,298 |
|
Denominator: |
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|
|
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Weighted average shares of Class A common stock outstanding - basic |
|
|
25,414,394 |
|
|
|
24,083,066 |
|
Effect of dilutive securities: |
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|
|
|
|
|
Rumble Class A common stock |
|
|
1,300,032 |
|
|
|
1,300,032 |
|
Restricted stock units |
|
|
473,776 |
|
|
|
791,234 |
|
Convertible preferred stocks |
|
|
13,888,889 |
|
|
|
13,888,889 |
|
Conversion of Class B common stock to Class A common stock |
|
|
22,106,177 |
|
|
|
22,632,802 |
|
Weighted average shares of Class A common stock outstanding - diluted |
|
|
63,183,268 |
|
|
|
62,696,023 |
|
|
|
|
|
|
|
|
Net earnings per share attributable to Class A common stock - basic |
|
$ |
3.28 |
|
|
$ |
1.86 |
|
Net earnings per share attributable to Class A common stock - diluted |
|
$ |
0.50 |
|
|
$ |
0.26 |
|
Shares excluded from diluted earnings per share of Class A common stock: |
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|
|
|
|
|
Rumble contingent shares |
|
|
2,024,445 |
|
|
|
2,024,445 |
|
Profits interests, time vesting |
|
|
1,469 |
|
|
|
1,301 |
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