| Schedule of Calculation of Basic and Diluted Earnings (Loss) Per Share |
The following table presents the calculation of basic earnings (loss) per share and diluted earnings (loss) per share of Class A common stock:
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Years Ended December 31, |
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2023 |
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2022 |
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|
2021 |
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Numerator: |
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|
|
|
Net income (loss) |
|
$ |
(1,713 |
) |
|
$ |
2,875 |
|
|
$ |
(51,440 |
) |
Less: net (income) loss attributable to noncontrolling interests |
|
|
(15,765 |
) |
|
|
19,284 |
|
|
|
78,417 |
|
Less: dividends on preferred shares |
|
|
(7,652 |
) |
|
|
(13,000 |
) |
|
|
(5,742 |
) |
Less: deemed contribution (dividend) |
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|
49,970 |
|
|
|
(31,185 |
) |
|
|
(84,994 |
) |
Add: deemed contribution from redemption of convertible preferred stock |
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|
12,679 |
|
|
|
- |
|
|
|
- |
|
Net income (loss) attributable to XPO Inc. - basic |
|
$ |
37,519 |
|
|
$ |
(22,026 |
) |
|
$ |
(63,759 |
) |
Add: dividends on preferred shares |
|
|
7,652 |
|
|
|
- |
|
|
|
- |
|
Less: deemed (contribution) dividend |
|
|
(49,970 |
) |
|
|
- |
|
|
|
- |
|
Less: deemed contribution from redemption of convertible preferred stock |
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|
(12,679 |
) |
|
|
- |
|
|
|
- |
|
Net income (loss) attributable to XPO Inc. - diluted |
|
$ |
(17,478 |
) |
|
$ |
(22,026 |
) |
|
$ |
(63,759 |
) |
Denominator: |
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Weighted average shares of Class A common stock outstanding - basic |
|
|
31,742 |
|
|
|
25,295 |
|
|
|
22,403 |
|
Effect of dilutive securities: |
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|
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Convertible preferred stock |
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7,963 |
|
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|
- |
|
|
|
- |
|
Weighted average shares of Class A common stock outstanding - diluted |
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|
39,705 |
|
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|
25,295 |
|
|
|
22,403 |
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Net earnings (loss) per share attributable to Class A common stock - basic |
|
$ |
1.18 |
|
|
$ |
(0.87 |
) |
|
$ |
(2.85 |
) |
Net earnings (loss) per share attributable to Class A common stock - diluted |
|
$ |
(0.44 |
) |
|
$ |
(0.87 |
) |
|
$ |
(2.85 |
) |
Anti-dilutive shares excluded from diluted loss per share of Class A common stock: |
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Rumble Class A common stock |
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|
- |
|
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|
- |
|
|
|
1,300 |
|
Restricted stock units |
|
|
1,477 |
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|
2,102 |
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|
|
1,123 |
|
Convertible preferred stock |
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|
- |
|
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|
13,889 |
|
|
|
13,889 |
|
Conversion of Class B common stock to Class A common stock |
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|
16,491 |
|
|
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21,572 |
|
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|
22,969 |
|
Treasury share options |
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|
75 |
|
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|
75 |
|
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|
- |
|
Rumble contingent shares |
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|
2,024 |
|
|
|
2,024 |
|
|
|
2,024 |
|
Profits interests, time vesting |
|
|
1 |
|
|
|
14 |
|
|
|
74 |
|
Profits interests, performance vesting |
|
|
- |
|
|
|
- |
|
|
|
1,935 |
|
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