Earnings (Loss) Per Share

3 Months Ended

Mar. 31, 2024

14. EARNINGS (LOSS) PER SHARE

Basic earnings (loss) per ordinary share is calculated based upon net income (loss) available to holders of ordinary shares divided by the weighted average number of ordinary shares outstanding. For the calculation of diluted earnings (loss) per ordinary share, the Company utilizes the treasury stock method and adjusts the weighted average number of ordinary shares outstanding for the effect of outstanding ordinary share equivalents such as stock options and restricted stock unit awards.


	Three Months Ended
	March 31,
(In thousands)	2024			2023 (1)
Numerator:
Net income (loss) from continuing operations	$	38,948		$	(12,050	)
Net loss from discontinued operations		(2,120	)		(29,795	)
Net income (loss)	$	36,828		$	(41,845	)
Denominator:
Weighted average number of ordinary shares outstanding		167,984			165,085
Effect of dilutive securities:
Stock options		1,734			—
Restricted stock unit awards		3,263			—
Dilutive ordinary share equivalents		4,997			—
Shares used in calculating diluted earnings (loss) per ordinary share		172,981			165,085

(1)

Prior period amounts have been retrospectively adjusted to reflect the effects of the Separation.

The following potential ordinary share equivalents were not included in the net earnings (loss) per ordinary share calculation because the effect would have been anti-dilutive:


	Three Months Ended
	March 31,
(In thousands)	2024		2023
Stock options		11,152		13,007
Restricted stock unit awards		1,776		6,093
Total		12,928		19,100