(Loss) Income per Share Attributable to Amphastar Pharmaceuticals, Inc. Shareholders

6 Months Ended

Jun. 30, 2020

(Loss) Income per Share Attributable to Amphastar Pharmaceuticals, Inc. Shareholders

(Loss) Income per Share Attributable to Amphastar Pharmaceuticals, Inc. Shareholders

Note 4. (Loss) Income per Share Attributable to Amphastar Pharmaceuticals, Inc. Shareholders

Basic net (loss) income per share attributable to Amphastar Pharmaceuticals, Inc. shareholders is calculated based upon the weighted-average number of shares outstanding during the period. Diluted net (loss) income per share attributable to Amphastar Pharmaceuticals, Inc. shareholders gives effect to all potential dilutive shares outstanding during the period, such as stock options, non-vested restricted stock units and shares issuable under the Company’s Employee Stock Purchase Plan, or ESPP and the reallocation of net income attributable to non-controlling interest from the assumed dilutive effect of stock options issued under the 2018 ANP Equity Incentive Plan, or the 2018 Plan.

As the Company reported a net loss for the three months ended June 30, 2020, the diluted net loss per share attributable to Amphastar Pharmaceuticals, Inc. shareholders, as reported, equals the basic net loss per share attributable to Amphastar Pharmaceuticals, Inc. shareholders since the effect of the assumed exercise of stock options, vesting of non-vested RSUs, and issuance of common shares under the Company’s ESPP are anti-dilutive. Total stock options, non-vested RSUs, and shares issuable under the Company’s ESPP excluded from the three months ended June 30, 2020 net loss per share were 8,887,036 stock options, 1,176,479 non-vested RSUs, and 60,386 shares issuable under the ESPP.

For the six months ended June 30, 2020, options to purchase 1,928,773 shares of stock, with a weighted-average exercise price of $20.84 per share, and the reallocation of net income attributable to non-controlling interest were excluded in the computation of diluted net income per common share attributable to Amphastar Pharmaceuticals, Inc.’s shareholders because the effect would be anti-dilutive.

For the three and six months ended June 30, 2019, options to purchase 783,001 and 762,937 shares of stock, respectively, with a weighted-average exercise price of $21.98 per share and $22.00 per share, respectively, and the reallocation of net income attributable to non-controlling interest were excluded in the computation of diluted net income per common share attributable to Amphastar Pharmaceuticals, Inc.’s shareholders because the effect would be anti-dilutive.

The following table provides the calculation of basic and diluted net (loss) income per share attributable to Amphastar Pharmaceuticals, Inc. shareholders for each of the periods presented:

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2020		2019		2020		2019
	(in thousands, except per share data)
Basic and dilutive numerator:
Net (loss) income attributable to Amphastar Pharmaceuticals, Inc.	$	(192)	$	47,787	$	3,757	$	48,655
Denominator:
Weighted-average shares outstanding — basic		46,753		47,107		46,581		46,925
Net effect of dilutive securities:
Incremental shares from equity awards		—		2,787		1,877		3,230
Weighted-average shares outstanding — diluted		46,753		49,894		48,458		50,155
Net (loss) income per share attributable to Amphastar Pharmaceuticals, Inc. shareholders — basic	$	(0.00)	$	1.01	$	0.08	$	1.04
Net (loss) income per share attributable to Amphastar Pharmaceuticals, Inc. shareholders — diluted	$	(0.00)	$	0.96	$	0.08	$	0.97