Quarterly report pursuant to Section 13 or 15(d)

Earnings (Loss) Per Share (Tables)

v3.22.2.2
Earnings (Loss) Per Share (Tables)
9 Months Ended
Sep. 30, 2022
Earnings Per Share [Abstract]  
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:

 

 

 

Three Months
Ended
September 30,

 

 

Nine Months
Ended
September 30,

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss)

 

$

(13,056

)

 

$

(8,904

)

 

$

3,242

 

 

$

(21,655

)

Less: net income (loss) attributable to noncontrolling interests

 

 

33,271

 

 

 

9,452

 

 

 

(6,295

)

 

 

22,203

 

Less: dividends on preferred shares

 

 

(3,250

)

 

 

(2,492

)

 

 

(9,750

)

 

 

(2,492

)

Less: deemed contribution (dividend)

 

 

(57,096

)

 

 

(6,500

)

 

 

19,794

 

 

 

(6,500

)

Net income (loss) attributable to XPO Inc. - basic

 

$

(40,131

)

 

$

(8,444

)

 

$

6,991

 

 

$

(8,444

)

Add: net income (loss) attributable to non-controlling interests

 

 

-

 

 

 

-

 

 

 

6,295

 

 

 

-

 

Add: dividends on preferred shares

 

 

-

 

 

 

-

 

 

 

9,750

 

 

 

-

 

Less: deemed contributions (dividend)

 

 

-

 

 

 

-

 

 

 

(19,794

)

 

 

-

 

Net income (loss) attributable to XPO Inc. - diluted

 

$

(40,131

)

 

$

(8,444

)

 

$

3,242

 

 

$

(8,444

)

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average shares of Class A common stock outstanding - basic

 

 

26,156,418

 

 

 

22,146,011

 

 

 

24,781,778

 

 

 

22,146,011

 

Effect of dilutive securities:

 

 

 

 

 

 

 

 

 

 

 

 

Rumble Class A common stock

 

 

-

 

 

 

-

 

 

 

1,300,032

 

 

 

-

 

Restricted stock units

 

 

-

 

 

 

-

 

 

 

538,693

 

 

 

-

 

Convertible preferred stocks

 

 

-

 

 

 

-

 

 

 

13,888,889

 

 

 

-

 

Conversion of Class B common stock to Class A common stock

 

 

-

 

 

 

-

 

 

 

22,313,345

 

 

 

-

 

Weighted average shares of Class A common stock outstanding - diluted

 

 

26,156,418

 

 

 

22,146,011

 

 

 

62,822,737

 

 

 

22,146,011

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net earnings (loss) per share attributable to Class A common stock - basic

 

$

(1.53

)

 

$

(0.38

)

 

$

0.28

 

 

$

(0.38

)

Net earnings (loss) per share attributable to Class A common stock - diluted

 

$

(1.53

)

 

$

(0.38

)

 

$

0.05

 

 

$

(0.38

)

Shares excluded from diluted earnings (loss) per share of Class A common stock:

 

 

 

 

 

 

 

 

 

 

 

 

Rumble Class A common stock

 

 

1,300,032

 

 

 

1,300,032

 

 

 

-

 

 

 

1,300,032

 

Restricted stock units

 

 

2,121,161

 

 

 

821,308

 

 

 

-

 

 

 

821,308

 

Convertible preferred stocks

 

 

13,888,889

 

 

 

13,888,889

 

 

 

-

 

 

 

13,888,889

 

Conversion of Class B common stock to Class A common stock

 

 

21,650,669

 

 

 

22,963,246

 

 

 

-

 

 

 

22,963,246

 

Profits interests, performance vesting

 

 

-

 

 

 

1,934,550

 

 

 

-

 

 

 

1,934,550

 

Rumble contingent shares

 

 

2,024,445

 

 

 

2,024,445

 

 

 

2,024,445

 

 

 

2,024,445

 

Profits interests, time vesting

 

 

15,303

 

 

 

250,106

 

 

 

15,303

 

 

 

250,106