MP Materials Results Presentation Deck
14
Reconciliation: Diluted EPS to Adjusted Diluted EPS
(unaudited)
Diluted EPS
Adjusted for:
Stock-based compensation expense
Start-up costs
Transaction-related and other non-recurring costs
Loss on sale or disposal of long-lived assets, net
Tax impact of adjustments above(1)
Adjusted Diluted EPS
Basic Weighted-Average Shares Outstanding
Assumed conversion of Convertible Notes(²)
Assumed conversion of restricted stock
Assumed conversion of restricted stock units
Diluted Weighted-Average Shares Outstanding
Assumed conversion of Convertible Notes (²)
Adjusted Diluted Weighted-Average Shares Outstanding
LA
$
For the three months ended June 30,
2023
0.04
2022
0.38
0.03
0.02
0.01
0.01
(0.02)
0.09
176,984,917
555,282
318,919
177,859,118
15,584,409
193,443,527
$
$
0.04
(0.01)
0.41
176,527,570
15,584,409
845,450
457,134
193,414,563
193,414,563
$
$
For the three months
ended March 31,
2023
0.20
1. Tax impact of adjustments is calculated using an adjusted effective tax rate, which excludes the impact of discrete tax costs and benefits, to each adjustment. The adjusted effective tax rates were 31.3%, 24.0% and 20.1% for the three
months ended June 30, 2023 and 2022, and for the three months ended March 31, 2023, respectively.
2. The Convertible Notes were antidilutive for GAAP purposes for the three months ended June 30, 2023. For purposes of calculating Adjusted Diluted EPS, we have added back the assumed conversion of the Convertible Notes since
they would not be antidilutive when using Adjusted Net Income as the numerator in the calculation of Adjusted Diluted EPS.
0.04
0.02
0.02
0.01
(0.02)
0.27
176,881,723
15,584,409
723,145
424,262
193,613,539
193,613,539
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