Earnings Per Share

12 Months Ended

Dec. 31, 2016

Basic Earnings Per Share

We calculate basic earnings per share by dividing the net income for the period attributable to shareholders of the Parent by the weighted average number of shares outstanding.



	Year Ended December 31,
	2014		2015		2016

	(in thousands, except share data)

Net income attributable to shareholders of Criteo S.A.	$	45,556	$	59,553	$	82,272
Weighted average number of shares outstanding	58,928,563		61,835,499		63,337,792
Basic earnings per share	$	0.77	$	0.96	$	1.30

Diluted Earnings Per Share

We calculate diluted earnings per share by dividing the net income attributable to shareholders of the Parent by the weighted average number of shares outstanding plus any potentially dilutive shares not yet issued from share-based compensation plans (see note 19). There were no other potentially dilutive instruments outstanding as of December 31, 2014, 2015 and 2016. Consequently all potential dilutive effects from shares are considered.

For each period presented, a contract to issue a certain number of shares (i.e. share option, share warrant, restricted share award or BSPCE contracts) is assessed as potentially dilutive, if it is “in the money” (i.e., the exercise or settlement price is inferior to the average market price).



	Year Ended December 31,
	2014		2015		2016

	(in thousands, except share data)

Net income attributable to shareholders of Criteo S.A.	$	45,556	$	59,553	$	82,272
Weighted average number of shares outstanding of Criteo S.A.	58,928,563		61,835,499		63,337,792
Dilutive effect of :
Restricted share awards	—		—		253,728
Share options and BSPCE	4,347,236		3,133,549		1,958,728
Share warrants	217,461		127,438		83,222
Weighted average number of shares outstanding used to determine diluted earnings per share	63,493,260		65,096,486		65,633,470
Diluted earnings per share	$	0.72	$	0.91	$	1.25

The weighted average number of securities that were anti-dilutive for diluted EPS for the periods presented but which could potentially dilute EPS in the future are as follows:



	Year Ended December 31,
	2014	2015	2016

Restricted share awards	—	273,896	396,086
Share options and BSPCE	1,288,977	968,734	509,442
Share warrants	—	15,925	—
Weighted average number of anti-dilutive securities excluded from diluted earnings per share	1,288,977	1,258,555	905,528