Earnings (Loss) per Ordinary Share

6 Months Ended

Jun. 30, 2020

Basic earnings (loss) per ordinary share is computed by dividing net earnings (loss) by the weighted average number of ordinary shares outstanding during the period. Diluted earnings (loss) per ordinary share is computed by dividing net earnings (loss) by the weighted average number of ordinary shares outstanding during the period increased by the number of additional shares that would have been outstanding related to potentially dilutive securities or instruments, if the impact is dilutive.

Basic and diluted earnings (loss) per ordinary share are calculated as follows:


	Three Months Ended						Six Months Ended
	June 30,						June 30,
(In millions, except per share amounts)	2020		2019		2020		2019
Basic earnings (loss) (numerator):
Net earnings (loss)	$	39.4	$	(168.5)	$	60.2	$	(193.5)
Shares (denominator):
Weighted average ordinary shares outstanding	516.9		515.5		516.7		515.3
Basic earnings (loss) per ordinary share	$	0.08	$	(0.33)	$	0.12	$	(0.38)

Diluted earnings (loss) (numerator):
Net earnings (loss)	$	39.4	$	(168.5)	$	60.2	$	(193.5)
Shares (denominator):
Weighted average ordinary shares outstanding	516.9		515.5		516.7		515.3
Share-based awards	0.3		—		0.4		—
Total dilutive shares outstanding	517.2		515.5		517.1		515.3
Net earnings (loss) per diluted ordinary share	$	0.08	$	(0.33)	$	0.12	$	(0.38)

Additional stock awards and restricted stock awards were outstanding during the three and six months ended June 30, 2020 and 2019, but were not included in the computation of diluted earnings per ordinary share for each respective period because the effect would be anti-dilutive. Excluded shares at June 30, 2020 include certain share-based compensation awards whose performance conditions had not been fully met. Such excluded shares and anti-dilutive awards represented 11.1 million shares and 10.4 million shares for the three and six months ended June 30, 2020, respectively, and 10.6 million shares and 9.7 million shares for the three and six months ended 2019, respectively.