Earnings (Loss) Per Share

3 Months Ended

Mar. 31, 2021

EARNINGS (LOSS) PER SHARE

Basic earnings per ordinary share is computed by dividing net earnings attributable to holders of the Company's Class A common shares by the weighted average number of common shares outstanding during the period. Diluted earnings per ordinary share is computed by dividing net earnings attributable to holders of the Company's Class A common shares by the weighted average number of common 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.

The details of the earnings per share calculations for the three months ended March 31, 2021 and 2020 are as follows (in millions, except per share and per share amounts):


	Three months ended March 31, 2021		Three months ended March 31, 2020 (as restated)
Net income (loss) attributable to common shareholders	$	31.7	$	(208.3)

Weighted-average number of ordinary shares outstanding - basic	349,603,701		240,656,864
Dilutive effect of equity-based compensation and warrants	3,844,884		—
Weighted-average number of ordinary shares outstanding - diluted	353,448,585		240,656,864


Net income per share attributable to common shareholders
Basic	$	0.09	$	(0.87)
Diluted	0.09		(0.87)

Additional stock awards and warrants were outstanding during the three months ended March 31, 2020, but were not included in the computation of diluted earnings per common share because the effect would be anti-dilutive. Such anti-dilutive awards and warrants represented 5.4 million and 33.5 million shares for the three months ended March 31, 2020, respectively.