Earnings per Share

12 Months Ended

Dec. 31, 2023

15 – Income (Loss) per Share

A reconciliation of the number of weighted average shares used for the basic and diluted income (loss) per share calculation for the periods presented was as follows:


	Year Ended December 31,
(Shares in millions)	2023		2022		2021
Net Income (Loss) Attributable to Weatherford	$	417	$	26	$	(450)

Basic Weighted Average Shares Outstanding	72		71		70
Dilutive Effect of Awards Granted in Stock Incentive Plans	2		1		—
Diluted Weighted Average Shares Outstanding	74		72		70

Basic Income (Loss) Per Share Attributable to Weatherford	$	5.79	$	0.37	$	(6.43)
Diluted Income (Loss) Per Share Attributable to Weatherford	$	5.66	$	0.36	$	(6.43)

Antidilutive Weighted Average Shares:
Warrants	7		8		8
Equity Awards	1		—		2
Total Antidilutive Weighted Average Shares	8		8		10

Basic income (loss) per share for all periods presented equals net income (loss) divided by our weighted average shares outstanding during the period. Diluted income (loss) per share is computed by dividing net income (loss) by our weighted average shares outstanding during the period including potential dilutive ordinary shares. Our basic and dilutive weighted average shares outstanding for the period presented with a net loss are equivalent as the inclusion of potential dilutive securities is antidilutive. Antidilutive shares represent securities that could dilute income (loss) per share, which are excluded from the computation as their impact was antidilutive.

As discussed in “Note 14 – Shareholders’ Equity”, warrants to purchase 7.8 million ordinary shares at $99.96 per share were issued on December 13, 2019 and expired on December 13, 2023. The warrants were excluded from the diluted weighted average shares outstanding as the exercise price of the warrants was greater than the average market price of the Company’s ordinary shares.