Accelerating Innovation at Leica Biosystems
DANAHER CORPORATION
Adjusted Average Common Stock and Common Equivalent Diluted Shares Outstanding
(shares in millions)
Six-Month Period Ended
July 2, 2021
July 3, 2020
Average common stock and common equivalent shares outstanding - diluted (GAAP) 3
Converted shares
4
735.6
713.1
8.6
14.6
Adjusted average common stock and common equivalent shares outstanding - diluted (non-GAAP)
744.2
727.7
3
The impact of the MCPS Series A calculated under the if-converted method was dilutive for the six-month period ended July 2, 2021, and as such 11.0 million shares underlying
the MCPS Series A were included in the calculation of diluted EPS and the related MCPS Series A dividends of $40 million were excluded from the calculation of net earnings for
diluted EPS.
4
The impact of the MCPS Series B calculated under the if-converted method was anti-dilutive for the six-month period ended July 2, 2021, and as such 8.6 million shares
underlying the MCPS Series B were excluded in the calculation of diluted EPS and the related MCPS Series B dividends of $42 million were included in the calculation of net
earnings for diluted EPS.
The impact of the MCPS Series A and MCPS Series B calculated under the if-converted method was anti-dilutive for the six-month period ended July 3, 2020, and as such 14.6
million shares underlying the MCPS Series A and MCPS Series B were excluded from the diluted EPS calculation and the related MCPS Series A and MCPS Series B dividends
were included in the calculation of net earnings for diluted EPS from continuing operations for the six-month period ended July 3, 2020.
The number of converted shares assumes the conversion of all MCPS and issuance of the underlying shares applying the "if-converted" method of accounting and using an average
20 trading-day trailing volume weighted average price ("VWAP") of $258.03 and $172.83 as of July 2, 2021 and July 3, 2020, respectively.
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