Earnings per Share

6 Months Ended

Jun. 30, 2020

Potential ordinary shares of 35,797,137 of Private Placement Warrants, DRG Transaction Shares, options, RSUs, and PSUs related to the 2019 Incentive Award Plan were excluded from diluted EPS for the three and six months ended June 30, 2020, respectively, and potential ordinary shares of 85,052,934 related to Private Placement Warrants, Public Warrants, Merger Shares, and options related to the 2019 Incentive Award Plan were excluded from diluted EPS for the three and six months ended June 30, 2019 as the Company had net losses in both periods and their inclusion would be anti-dilutive. See Note 15 — "Shareholders' Equity" and Note 16 — "Employment and Compensation Arrangements” for a description.

The 2019 Transaction was accounted for as a reverse recapitalization in accordance with U.S. GAAP. See Note 1 — "Background and Nature of Operations". Accordingly, weighted-average shares outstanding for purposes of the EPS calculation have been retroactively recasted as shares reflecting the exchange ratio established in the 2019 Transaction (1.0 Jersey share to 132.13667 Clarivate shares).

The basic and diluted EPS computations for our ordinary shares are calculated as follows (in thousands, except share and per share amounts):


	Three Months Ended June 30,
	2020		2019
Basic/Diluted EPS
Net loss available to ordinary shareholders	$	(1,491)	$	(77,761)



Basic and diluted weighted-average number of ordinary shares outstanding	375,877,260		264,762,720


Basic and diluted EPS	$	—	$	(0.29)


	Six Months Ended June 30,
	2020		2019
Basic/Diluted EPS
Net loss available to ordinary shareholders	$	(75,492)	$	(137,021)



Basic and diluted weighted-average number of ordinary shares outstanding	359,503,556		241,275,061


Basic and diluted EPS	$	(0.21)	$	(0.57)