Income per Share

6 Months Ended

Jun. 30, 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 June 30,				Six Months Ended June 30,
(Dollars and shares in millions, except per share amounts)	2024		2023		2024		2023
Net Income Attributable to Weatherford	$	125	$	82	$	237	$	154

Basic Weighted Average Shares Outstanding	73.2		72.1		73.1		72.1
Dilutive Effect of Awards Granted in Stock Incentive Plan	2.1		1.3		1.9		1.3
Diluted Weighted Average Shares Outstanding	75.3		73.4		75.0		73.4

Basic Income per Share	$	1.71	$	1.14	$	3.25	$	2.14
Diluted Income per Share	$	1.66	$	1.12	$	3.16	$	2.11

Anti-dilutive Weighted Average Shares:
Warrants	—		7.8		—		7.8
Equity Awards	0.5		1.0		0.5		0.9
Total Anti-dilutive Weighted Average Shares	0.5		8.8		0.5		8.7

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. Anti-dilutive 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 anti-dilutive.

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 and six months ended June 30, 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.