Earnings Per Share Computations

3 Months Ended

Sep. 30, 2020

The Company applies the two-class method when computing its earnings per share ("EPS"), which requires that net income per share for each class of share be calculated assuming all of the Company's net income is distributed as dividends to each class of share based on their contractual rights.

Basic EPS is computed by dividing net income available to ordinary shareholders by the weighted-average number of ordinary shares outstanding after excluding the ordinary shares to be repurchased using forward contracts. Diluted EPS includes the effects of share options, restricted shares, performance rights, performance shares and share rights, if dilutive.


	Three Months Ended September 30,
(in millions, except per share amounts)	2020		2019
Numerator
Net income attributable to Amcor plc	$	198	$	66
Distributed and undistributed earnings attributable to shares to be repurchased	—		—
Net income available to ordinary shareholders of Amcor plc—basic and diluted	$	198	$	66
Net income available to ordinary shareholders of Amcor plc from continuing operations—basic and diluted	$	198	$	74
Net income available to ordinary shareholders of Amcor plc from discontinued operations—basic and diluted	$	—	$	(8)

Denominator
Weighted-average ordinary shares outstanding	1,562.5		1,623.5
Weighted-average ordinary shares to be repurchased by Amcor plc	(2.0)		(0.3)
Weighted-average ordinary shares outstanding for EPS—basic	1,560.5		1,623.2
Effect of dilutive shares	4.8		2.9
Weighted-average ordinary shares outstanding for EPS—diluted	1,565.3		1,626.1

Per ordinary share income
Income from continuing operations	$	0.127	$	0.045
Income from discontinued operations	—		(0.005)
Basic earnings per ordinary share	$	0.127	$	0.041

Income from continuing operations	$	0.126	$	0.045
Income from discontinued operations	—		(0.005)
Diluted earnings per ordinary share	$	0.126	$	0.041

Note: Per share amounts are computed independently for each of the quarters presented. The sum of the quarters may not equal the total year amount due to the impact of changes in average quarterly shares outstanding and all other quarterly amounts may not equal the total year due to rounding.

Certain outstanding share options were excluded from the diluted earnings per share calculation because they were anti-dilutive. The excluded share options for the three months ended September 30, 2020 and 2019 represented an aggregate of 22.8 million and 17.3 million shares, respectively.