| 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:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three months ended September 30, |
|
|
Nine months ended September 30, |
|
|
|
2024 |
|
|
2023 |
|
|
2024 |
|
|
2023 |
|
Numerator: |
|
|
|
|
|
|
|
|
|
|
|
|
Net income (loss) |
|
$ |
(17,970 |
) |
|
$ |
(5,183 |
) |
|
$ |
(35,988 |
) |
|
$ |
7,362 |
|
Less: net (income) loss attributable to noncontrolling interests |
|
|
4,577 |
|
|
|
(14,976 |
) |
|
|
14,123 |
|
|
|
(14,127 |
) |
Less: dividends on preferred shares |
|
|
(1,898 |
) |
|
|
(1,863 |
) |
|
|
(5,911 |
) |
|
|
(5,789 |
) |
Less: deemed contribution |
|
|
6,094 |
|
|
|
51,435 |
|
|
|
— |
|
|
|
34,326 |
|
Add: deemed contribution from redemption of convertible preferred stock |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
12,679 |
|
Net income (loss) attributable to XPO Inc. - basic |
|
|
(9,197 |
) |
|
|
29,413 |
|
|
|
(27,776 |
) |
|
|
34,451 |
|
Add: dividends on preferred shares |
|
|
— |
|
|
|
1,863 |
|
|
|
— |
|
|
|
5,789 |
|
Less: deemed contribution |
|
|
— |
|
|
|
(51,435 |
) |
|
|
— |
|
|
|
(34,326 |
) |
Less: Deemed contribution from redemption of convertible preferred stock |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(12,679 |
) |
Net loss attributable to XPO Inc. - diluted |
|
$ |
(9,197 |
) |
|
$ |
(20,159 |
) |
|
$ |
(27,776 |
) |
|
$ |
(6,765 |
) |
Denominator: |
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average shares of Class A common stock outstanding - basic |
|
|
32,177 |
|
|
|
32,260 |
|
|
|
31,704 |
|
|
|
32,025 |
|
Effect of dilutive securities: |
|
|
|
|
|
|
|
|
|
|
|
|
Convertible preferred stock |
|
|
— |
|
|
|
7,963 |
|
|
|
— |
|
|
|
7,963 |
|
Weighted average shares of Class A common stock outstanding - diluted |
|
|
32,177 |
|
|
|
40,223 |
|
|
|
31,704 |
|
|
|
39,988 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net earnings (loss) per share attributable to Class A common stock - basic |
|
$ |
(0.29 |
) |
|
$ |
0.91 |
|
|
$ |
(0.88 |
) |
|
$ |
1.08 |
|
Net loss per share attributable to Class A common stock - diluted |
|
$ |
(0.29 |
) |
|
$ |
(0.50 |
) |
|
$ |
(0.88 |
) |
|
$ |
(0.17 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Anti-dilutive shares excluded from diluted loss per share of Class A common stock: |
|
|
|
|
|
|
|
|
|
|
|
|
Restricted stock units |
|
|
2,077 |
|
|
|
1,267 |
|
|
|
2,077 |
|
|
|
1,267 |
|
Conversion of Class B common stock to Class A common stock |
|
|
16,016 |
|
|
|
16,492 |
|
|
|
16,016 |
|
|
|
16,492 |
|
Convertible preferred stock |
|
|
8,112 |
|
|
|
— |
|
|
|
8,112 |
|
|
|
— |
|
Accelerated Purchase Program - final settlement |
|
|
— |
|
|
|
589 |
|
|
|
— |
|
|
|
589 |
|
Treasury share options |
|
|
75 |
|
|
|
75 |
|
|
|
75 |
|
|
|
75 |
|
Rumble contingent shares |
|
|
2,024 |
|
|
|
2,024 |
|
|
|
2,024 |
|
|
|
2,024 |
|
Profits interests, time vesting |
|
|
— |
|
|
|
1 |
|
|
|
— |
|
|
|
1 |
|
|