Income per Share

3 Months Ended

Mar. 31, 2024

9 – Income per Share

A reconciliation of the number of shares used for the basic and diluted income per share calculation was as follows:


	Three Months Ended March 31,
(Dollars and shares in millions, except per share amounts)	2024		2023
Net Income Attributable to Weatherford	$	112	$	72

Basic Weighted Average Shares Outstanding	72.9		71.5
Dilutive Effect of Awards Granted in Stock Incentive Plan	1.8		2.0
Diluted Weighted Average Shares Outstanding	74.7		73.5

Basic Income per Share	$	1.54	$	1.00
Diluted Income per Share	$	1.50	$	0.97

Antidilutive Weighted Average Shares:
Warrants	—		7.8
Equity Awards	0.5		0.8
Total Antidilutive Weighted Average Shares	0.5		8.6

Basic income per share for all periods presented equals net income divided by our weighted average shares outstanding during the period. Diluted income per share is computed by dividing net income by our weighted average shares outstanding during the period including potential dilutive ordinary shares. Antidilutive weighted average shares represent securities that could potentially dilute income per share in the future, which are excluded from the computation as their impact was antidilutive.

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. For the three months ended March 31, 2023 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.