2023 Consolidated Financial Statements and Notes
2023 Consolidated Financial Statements and Notes
AIR CANADA
14. EARNINGS (LOSS) PER SHARE
The following table outlines the calculation of basic and diluted loss per share:
(in millions, except per share amounts)
Numerator:
2023
2022
Net income (loss)
Effect of assumed conversion of convertible notes
$
2,276
(33)
(1,700)
(46)
Remove anti-dilutive impact
46
Adjusted numerator for diluted earnings (loss) per share
$
2,243
$
(1,700)
Denominator:
Weighted-average shares
Effect of potential dilutive securities:
Stock options
Convertible notes
Remove anti-dilutive impact
Adjusted denominator for diluted earnings (loss) per share
Basic earnings (loss) per share
Diluted earnings (loss) per share
358
358
18
44
(44)
376
358
$
6.35
$
(4.75)
5.96
(4.75)
The calculation of loss per share is based on whole dollars and not on rounded millions. As a result, the above amounts
may not be recalculated to the per share amount disclosed above.
Excluded from the 2023 calculation of diluted loss per share were 4,975,000 (2022 – 4,341,000) outstanding options
where the options' exercise prices were greater than the average market price of the shares for the year. Outstanding
options that had exercise prices lower than the average market price of the shares for the year were included in the
calculation of diluted loss per share; using the treasury stock method, this resulted in less than one million in potential
dilutive securities.
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