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Earnings Per Share
 6 Months Ended
Jun. 30, 2023
Earnings Per Share [Abstract]  
Earnings Per Share

Note 17. Earnings Per Share

(Loss) earnings per share, including a reconciliation of the number of shares used for our (loss) earnings per share calculation, was as follows:

 

 

For the Three Months Ended
June 30,

 

 

For the Six Months Ended
June 30,

 

 

 

2023

 

 

2022

 

 

2023

 

 

2022

 

Numerator

 

 

 

 

 

 

 

 

 

 

 

 

Net (loss) earnings attributable to common shareholders

 

$

(139

)

 

$

73

 

 

$

(273

)

 

$

116

 

Less: dividend-equivalents declared for equity based awards

 

 

(1

)

 

 

(1

)

 

 

(2

)

 

 

(1

)

Net (loss) earnings available to common shareholders

 

$

(140

)

 

$

72

 

 

$

(275

)

 

$

115

 

Denominator

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average number of shares outstanding - basic

 

 

178.5

 

 

 

177.7

 

 

 

178.4

 

 

 

177.7

 

Effect of dilutive securities

 

 

—

 

 

 

0.6

 

 

 

—

 

 

 

0.5

 

Weighted average number of shares outstanding - diluted

 

 

178.5

 

 

 

178.3

 

 

 

178.4

 

 

 

178.2

 

(Loss) earnings per share attributable to Pactiv Evergreen Inc. common shareholders

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

(0.78

)

 

$

0.41

 

 

$

(1.54

)

 

$

0.65

 

Diluted

 

$

(0.78

)

 

$

0.40

 

 

$

(1.54

)

 

$

0.65

 

The weighted average number of anti-dilutive potential common shares excluded from the calculation above was 0.6 million shares, 0.7 million shares, 0.4 million shares and 0.7 million shares for the three and six months ended June 30, 2023 and 2022, respectively.

On August 1, 2023, our Board of Directors declared a dividend of $0.10 per share to be paid on September 15, 2023 to shareholders of record as of August 31, 2023.