EARNINGS PER SHARE

3 Months Ended

Mar. 31, 2025

Basic net income per share is calculated by dividing net income attributable to Aptar by the weighted-average number of common shares outstanding during the period. Diluted net income per share is calculated by dividing the net income attributable to Aptar by the weighted-average number of common and common equivalent shares outstanding during the applicable period. The difference between basic and diluted earnings per share is attributable to stock-based compensation awards. Stock-based compensation awards for which total employee proceeds exceed the average market price over the applicable period would have an antidilutive effect on earnings per share, and accordingly, are excluded from the calculation of diluted earnings per share. The reconciliation of basic and diluted earnings per share for the three months ended March 31, 2025 and 2024 were as follows:


	Three Months Ended
	March 31, 2025				March 31, 2024
	Diluted		Basic		Diluted		Basic
Consolidated operations
Income available to common stockholders	$	78,798	$	78,798	$	83,104	$	83,104

Average equivalent shares
Shares of common stock	66,271		66,271		66,064		66,064
Effect of dilutive stock-based compensation
Stock options	593		—		788		—
Restricted stock	627		—		580		—
Total average equivalent shares	67,491		66,271		67,432		66,064
Net income per share	$	1.17	$	1.19	$	1.23	$	1.26