Loss per Share

3 Months Ended

Mar. 31, 2024

Following the implementation of the Reorganization on November 7, 2023, all outstanding shares of Old PubCo Class A common stock and Old PubCo Class B common stock were exchanged for an equivalent number of shares of Class A common stock of the Company.

Basic loss per share of the Company’s Class A common stock is computed by dividing net loss attributable to Amneal Pharmaceuticals, Inc. by the weighted-average number of shares of Class A common stock outstanding during the period. Diluted loss per share of Class A common stock is computed by dividing net loss attributable to Amneal Pharmaceuticals, Inc. by the weighted-average number of shares of Class A common stock outstanding, adjusted to give effect to potentially dilutive securities. The weighted-average number of shares of Class A common stock for all periods prior to the Reorganization includes shares of Old PubCo Class A common stock.

The following table sets forth reconciliations of the numerators and denominators used to compute basic and diluted loss per share of Class A common stock (in thousands, except per share amounts):


	Three Months Ended March 31,
	2024		2023
Numerator:
Net loss attributable to Amneal Pharmaceuticals, Inc.	$	(91,643)	$	(6,943)
Denominator:
Weighted-average shares outstanding - basic and diluted	307,279		152,109
Net loss per share attributable to Amneal Pharmaceuticals, Inc.’s Class A common stockholders:
Basic and diluted	$	(0.30)	$	(0.05)

Prior to the Reorganization, shares of Old PubCo Class B common stock did not share in the losses of the Company and, therefore, were not participating securities. As such, separate presentation of basic and diluted loss per share of Old PubCo Class B common stock under the two-class method was not presented. Effective with the Reorganization, all outstanding shares of Old PubCo Class B common stock were surrendered and canceled.

The following table presents potentially dilutive securities excluded from the computations of diluted loss per share of Class A common stock (in thousands):


	Three Months Ended March 31,
	2024		2023
Stock options	2,406	(1)	2,632	(1)
Restricted stock units	10,837	(1)	11,576	(1)
Performance stock units	7,827	(1)	7,018	(1)
Shares of Old PubCo Class B common stock	—		152,117	(2)

(1)Excluded from the computation of diluted loss per share of Class A common stock because the effect of their inclusion would have been anti-dilutive since there was a net loss attributable to the Company during the period.

(2)Shares of Old PubCo Class B common stock were considered potentially dilutive shares of Old PubCo Class A common stock. Shares of Old PubCo Class B common stock were excluded from the computations of diluted loss per share of Class A common stock for the three months ended March 31, 2023 because the effect of their inclusion would have been anti-dilutive under the if-converted method.