Mallinckrodt Plc Just Filed Its Quarterly Report: 7.Earnings per Share...

7.
Earnings per Share
Basic earnings per share is computed by dividing net income by the number of weighted-average shares outstanding during the period. Diluted earnings per share is computed using the weighted-average shares outstanding and, if dilutive, potential ordinary shares outstanding during the period. Potential ordinary shares represent the incremental ordinary shares issuable for restricted share units and share option exercises. The Company calculates the dilutive effect of outstanding restricted share units and share options on earnings per share by application of the treasury stock method.
The weighted-average number of shares outstanding used in the computations of basic and diluted earnings per share were as follows (in millions):
 
Three Months Ended
 
Six Months Ended
 
June 30, 2017
 
June 24, 2016
 
June 30, 2017
 
June 24, 2016
Basic
98.5

 
108.6

 
100.9

 
109.9

Dilutive impact of restricted share units and share options
0.2

 
0.8

 
0.3

 
0.9

Diluted
98.7

 
109.4

 
101.2

 
110.8



The computation of diluted weighted-average shares outstanding for the three and six months ended June 30, 2017 excludes approximately 4.0 million and 3.6 million shares of equity awards, respectively, because the effect would have been anti-dilutive. The computation of diluted weighted-average shares outstanding for the three and six months ended June 24, 2016 excludes approximately 1.5 million and 1.4 million shares of equity awards, respectively, because the effect would have been anti-dilutive.

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

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