Willis Group Holdings Limited Just Filed Its Quarterly Report: Note 18 — Earnings P...

Note 18 — Earnings Per Share

Basic and diluted earnings per share from continuing operations attributable to WTW and discontinued operations, net of tax are calculated by dividing net income from continuing operations attributable to WTW and discontinued operations, net of tax, respectively, by the average number of ordinary shares outstanding during each period. The computation of diluted earnings per share

reflects the potential dilution that could occur if dilutive securities and other contracts to issue shares were exercised or converted into shares or resulted in the issuance of shares that then shared in the net income of the Company.

At June 30, 2022 and 2021, there were 0.1 million and 0.3 million performance-based options outstanding, respectively, and 0.7 million and 0.6 million restricted performance-based stock units outstanding, respectively. At June 30, 2022, there were 0.4 million restricted time-based stock units outstanding; restricted time-based stock units were immaterial at June 30, 2021. The Company’s time-based share options were immaterial at June 30, 2022; there were 0.1 million time-based share options outstanding at June 30, 2021.

Basic and diluted earnings per share are as follows:

 

































































































































































































































































































































































 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Income from continuing operations

 

$

160

 

 

$

117

 

 

$

274

 

 

$

663

 

Less: income attributable to non-controllable interests

 

 

(5

)

 

 

(2

)

 

 

(8

)

 

 

(5

)

Income from continuing operations attributable to WTW

 

$

155

 

 

$

115

 

 

$

266

 

 

$

658

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(Loss)/income from discontinued operations, net of tax

 

$

(46

)

 

$

69

 

 

$

(35

)

 

$

259

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic average number of shares outstanding

 

 

112

 

 

 

130

 

 

 

115

 

 

 

130

 

Dilutive effect of potentially issuable shares

 

 

 

 

 

 

 

 

 

 

 

 

Diluted average number of shares outstanding

 

 

112

 

 

 

130

 

 

 

115

 

 

 

130

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic earnings per share from continuing operations attributable
   to WTW

 

$

1.38

 

 

$

0.89

 

 

$

2.31

 

 

$

5.07

 

Dilutive effect of potentially issuable shares

 

 

 

 

 

(0.01

)

 

 

 

 

 

(0.02

)

Diluted earnings per share from continuing operations
   attributable to WTW

 

$

1.38

 

 

$

0.88

 

 

$

2.31

 

 

$

5.05

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic (loss)/earnings per share from discontinued operations,
   net of tax

 

$

(0.41

)

 

$

0.53

 

 

$

(0.30

)

 

$

1.99

 

Dilutive effect of potentially issuable shares

 

 

 

 

 

 

 

 

 

 

 

 

Diluted (loss)/earnings per share from discontinued operations,
   net of tax

 

$

(0.41

)

 

$

0.53

 

 

$

(0.30

)

 

$

1.99

 

 

For the three and six months ended June 30, 2022, 0.3 million and 0.2 million restricted stock units, respectively, were not included in the computation of the dilutive effect of potentially issuable shares because their effect was anti-dilutive. For both the three and six months ended June 30, 2021, 0.2 million restricted stock units were not included in the computation of the dilutive effect of potentially issuable shares because their effect was anti-dilutive. There were no anti-dilutive options for the three and six months ended June 30, 2022 and 2021.

The above information was disclosed in a filing to the SEC. To see the filing, click here.

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Other recent filings from the company include the following:

Willis Group Holdings Limited's Head of International just declared owning 2,847 shares of Willis Group Holdings Limited - Sept. 30, 2022
Willis Group Holdings Limited's Chief Operating Officer just declared owning 3,267 shares of Willis Group Holdings Limited - Sept. 23, 2022
Willis Group Holdings Limited's Head of Benefits Deliv & Admin just cashed-in 13,925 options - Sept. 9, 2022
Willis Group Holdings Limited's Chief Financial Officer just disposed of 2,724 shares - Sept. 9, 2022
Head of Health of Willis Group Holdings Limited just disposed of 1,400 shares - Sept. 6, 2022

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