Earnings (Loss) per Ordinary Share

3 Months Ended

Mar. 31, 2021

(Loss) Earnings per ShareBasic (loss) earnings per share is computed by dividing net (loss) earnings by the weighted average number of shares outstanding during the period. Diluted (loss) earnings per share is computed by dividing net (loss) earnings by the weighted average number of 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 (loss) earnings per share attributable to Viatris Inc. are calculated as follows:


	Three Months Ended
	March 31,
(In millions, except per share amounts)		2021		2020
Basic (loss) earnings attributable to Viatris Inc. common shareholders
Net (loss) earnings attributable to Viatris Inc. common shareholders		$	(1,037.6)	$	20.8
Shares (denominator):
Weighted average shares outstanding		1,207.5		516.4
Basic (loss) earnings per share attributable to Viatris Inc. shareholders		$	(0.86)	$	0.04

Diluted (loss) earnings attributable to Viatris Inc. common shareholders
Net (loss) earnings attributable to Viatris Inc. common shareholders		$	(1,037.6)	$	20.8
Shares (denominator):
Weighted average shares outstanding		1,207.5		516.4
Share-based awards and warrants		—		0.6
Total dilutive shares outstanding		1,207.5		517.0
Diluted (loss) earnings per share attributable to Viatris Inc. shareholders		$	(0.86)	$	0.04

Additional stock awards and restricted stock awards were outstanding during the three months ended March 31, 2021 and 2020, but were not included in the computation of diluted earnings per share for each respective period because the effect would be anti-dilutive. Excluded shares at March 31, 2021 include certain share-based compensation awards whose performance conditions had not been fully met. Such excluded shares and anti-dilutive awards represented 10.9 million shares and 9.6 million shares for the three months ended March 31, 2021 and 2020, respectively.

On May 7, 2021, the Company’s Board of Directors declared a quarterly cash dividend of $0.11 per share on the Company’s issued and outstanding common stock. The cash dividend will be payable on June 16, 2021 to shareholders of record as of the close of business on May 24, 2021. The declaration and payment of future dividends to holders of the Company’s common stock will be at the discretion of the Board of Directors, and will depend upon factors, including but not limited to, the Company’s financial condition, earnings, capital requirements of its businesses, legal requirements, regulatory constraints, industry practice, and other factors that the Board of Directors deems relevant.