NET INCOME ATTRIBUTABLE TO COTY INC. PER COMMON SHARE (Tables)

3 Months Ended

Sep. 30, 2023

Schedule of reconciliation of numerators and denominators of basic and diluted EPS computations

Reconciliation between the numerators and denominators of the basic and diluted income per share (“EPS”) computations is presented below:


	Three Months Ended September 30,
	2023		2022

Amounts attributable to Coty Inc.:
Net income attributable to Coty Inc.	$	1.6	$	128.6
Convertible Series B Preferred Stock dividends	(3.3)		(3.3)


Net (loss) income attributable to common stockholders	$	(1.7)	$	125.3

Weighted-average common shares outstanding:
Weighted-average common shares outstanding—Basic	854.3		842.0
Effect of dilutive stock options and Series A Preferred Stock (a)	—		—
Effect of restricted stock and RSUs (b)	—		16.5
Effect of Convertible Series B Preferred Stock (c)	—		23.7
Effect of Forward Repurchase Contracts (d)	—		—
Weighted-average common shares outstanding—Diluted	854.3		882.2

Earnings per common share:






Earnings per common share - basic	$	—	$	0.15
Earnings per common share - diluted (e)	—		0.15

(a) For the three months ended September 30, 2023, outstanding stock options and Series A Preferred Stock with purchase or conversion rights to purchase shares of Common Stock were excluded in the computation of diluted loss per share due to the net loss incurred during the period. For the three months ended September 30, 2022, outstanding stock options and Series A Preferred Stock with purchase or conversion rights to purchase 6.2 million shares of Common Stock were anti-dilutive and excluded from the computation of diluted EPS.

(b) For the three months ended September 30, 2023, RSUs were excluded from the computation of diluted loss per share due to the net loss incurred during the period.

(c) For the three months ended September 30, 2023, Convertible Series B Preferred Stock was excluded from the computation of diluted loss per share due to the net loss incurred during the period.

(d) For the three months ended September 30, 2023, potential shares for the Forward Repurchase Contracts were excluded from the computation of diluted loss per share due to the net loss incurred during the period. For the three months ended September 30, 2022, 3.1 million weighted average dilutive shares for the Forward Repurchase Contracts were excluded from the computation of diluted EPS as their inclusion would have been anti-dilutive.

(e) Diluted EPS is adjusted by the effect of dilutive securities, including awards under the Company's equity compensation plans, the convertible Series B Preferred Stock, and the Forward Repurchase Contracts. When calculating any potential dilutive effect of stock options, Series A Preferred Stock, restricted stock, RSUs and PRSUs, the Company uses the treasury method and the if-converted method for the Convertible Series B Preferred Stock and the Forward Repurchase Contracts. The treasury method typically does not adjust the net income attributable to Coty Inc., while the if-converted method requires an adjustment to reverse the impact of the preferred stock dividends of $3.3 and $3.3, respectively, and to reverse the impact of fair market value (gains)/losses for contracts with the option to settle in shares or cash of $44.3 and $27.7, respectively, if dilutive, for the three months ended September 30, 2023 and 2022 on net income applicable to common stockholders during the period.