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 nine months ended September 30, 2022:
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Three Months Ended September 30, |
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Nine Months Ended September 30, |
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2022 |
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2021 |
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2022 |
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2021 |
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Numerator: |
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Net income (loss) |
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$ |
(13,056 |
) |
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$ |
(8,904 |
) |
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$ |
3,242 |
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$ |
(21,655 |
) |
Less: net income (loss) attributable to noncontrolling interests |
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33,271 |
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9,452 |
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(6,295 |
) |
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22,203 |
|
Less: dividends on preferred shares |
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(3,250 |
) |
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(2,492 |
) |
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(9,750 |
) |
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(2,492 |
) |
Less: deemed contribution (dividend) |
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(57,096 |
) |
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(6,500 |
) |
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19,794 |
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(6,500 |
) |
Net income (loss) attributable to XPO Inc. - basic |
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$ |
(40,131 |
) |
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$ |
(8,444 |
) |
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$ |
6,991 |
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$ |
(8,444 |
) |
Add: net income (loss) attributable to non-controlling interests |
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- |
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- |
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6,295 |
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- |
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Add: dividends on preferred shares |
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- |
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- |
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9,750 |
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- |
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Less: deemed contributions (dividend) |
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- |
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- |
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(19,794 |
) |
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- |
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Net income (loss) attributable to XPO Inc. - diluted |
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$ |
(40,131 |
) |
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$ |
(8,444 |
) |
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$ |
3,242 |
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$ |
(8,444 |
) |
Denominator: |
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Weighted average shares of Class A common stock outstanding - basic |
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26,156,418 |
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22,146,011 |
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24,781,778 |
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22,146,011 |
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Effect of dilutive securities: |
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Rumble Class A common stock |
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- |
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- |
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1,300,032 |
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- |
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Restricted stock units |
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- |
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- |
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538,693 |
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- |
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Convertible preferred stocks |
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- |
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- |
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13,888,889 |
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- |
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Conversion of Class B common stock to Class A common stock |
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- |
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- |
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22,313,345 |
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- |
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Weighted average shares of Class A common stock outstanding - diluted |
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26,156,418 |
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22,146,011 |
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62,822,737 |
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22,146,011 |
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Net earnings (loss) per share attributable to Class A common stock - basic |
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$ |
(1.53 |
) |
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$ |
(0.38 |
) |
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$ |
0.28 |
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$ |
(0.38 |
) |
Net earnings (loss) per share attributable to Class A common stock - diluted |
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$ |
(1.53 |
) |
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$ |
(0.38 |
) |
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$ |
0.05 |
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$ |
(0.38 |
) |
Shares excluded from diluted earnings (loss) per share of Class A common stock: |
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Rumble Class A common stock |
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1,300,032 |
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1,300,032 |
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- |
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1,300,032 |
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Restricted stock units |
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2,121,161 |
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821,308 |
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- |
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821,308 |
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Convertible preferred stocks |
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13,888,889 |
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13,888,889 |
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- |
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13,888,889 |
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Conversion of Class B common stock to Class A common stock |
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21,650,669 |
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22,963,246 |
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- |
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22,963,246 |
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Profits interests, performance vesting |
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- |
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1,934,550 |
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- |
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1,934,550 |
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Rumble contingent shares |
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2,024,445 |
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2,024,445 |
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2,024,445 |
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2,024,445 |
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Profits interests, time vesting |
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15,303 |
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250,106 |
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15,303 |
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250,106 |
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