| Schedule of Calculation of Basic and Diluted Loss Per Share |
The following table presents the calculation of basic and diluted loss per share of Class A common stock:
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Three months ended June 30, |
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Six months ended June 30, |
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2024 |
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2023 |
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2024 |
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2023 |
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Numerator: |
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Net income (loss) |
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$ |
(13,662 |
) |
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$ |
27,524 |
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$ |
(18,018 |
) |
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$ |
12,545 |
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Less: net (income) loss attributable to noncontrolling interests |
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4,607 |
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(23,740 |
) |
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9,546 |
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|
849 |
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Less: dividends on preferred shares |
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(2,150 |
) |
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(1,857 |
) |
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(4,013 |
) |
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(3,926 |
) |
Less: deemed contribution (dividend) |
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2,012 |
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45,551 |
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(6,094 |
) |
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(17,109 |
) |
Add: deemed contribution from redemption of convertible preferred stock |
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— |
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— |
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— |
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12,679 |
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Net income (loss) attributable to XPO Inc. - basic |
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(9,193 |
) |
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47,478 |
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(18,579 |
) |
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5,038 |
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Add: net income (loss) attributable to non-controlling interests |
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— |
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— |
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— |
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(849 |
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Add: dividends on preferred shares |
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— |
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1,857 |
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— |
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— |
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Less: deemed (contribution) dividend |
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— |
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(45,551 |
) |
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— |
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— |
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Net income (loss) attributable to XPO Inc. - diluted |
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$ |
(9,193 |
) |
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$ |
3,784 |
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$ |
(18,579 |
) |
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$ |
4,189 |
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Denominator: |
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Weighted average shares of Class A common stock outstanding - basic |
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31,806 |
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33,045 |
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31,465 |
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31,906 |
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Effect of dilutive securities: |
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Restricted stock units |
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— |
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585 |
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— |
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590 |
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Convertible preferred stock |
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— |
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7,963 |
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— |
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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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— |
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17,563 |
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Weighted average shares of Class A common stock outstanding - diluted |
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31,806 |
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41,593 |
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31,465 |
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50,059 |
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Net earnings (loss) per share attributable to Class A common stock - basic |
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$ |
(0.29 |
) |
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$ |
1.44 |
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$ |
(0.59 |
) |
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$ |
0.16 |
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Net earnings (loss) per share attributable to Class A common stock - diluted |
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$ |
(0.29 |
) |
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$ |
0.09 |
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$ |
(0.59 |
) |
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$ |
0.08 |
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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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2,263 |
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— |
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2,263 |
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— |
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Conversion of Class B common stock to Class A common stock |
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16,016 |
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16,574 |
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16,016 |
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— |
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Convertible preferred stock |
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8,112 |
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— |
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8,112 |
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7,963 |
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Treasury share options |
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75 |
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— |
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75 |
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— |
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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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2,024 |
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Profits interests, time vesting |
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1 |
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2 |
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1 |
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2 |
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