WEYERHAEUSER CO
For the period ended Dec 31, 2023. Filed Feb 16, 2024.
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FY2023 · Filed Feb 16, 2024
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NET EARNINGS PER SHARE
NOTE 5: NET EARNINGS PER SHARE
Our basic and diluted earnings per share for the last three years were:
| | $1.15 in 2023, |
|---|---|
| | $2.53 in 2022 and |
| | $3.48 and $3.47, respectively, in 2021. |
HOW WE CALCULATE BASIC AND DILUTED NET EARNINGS PER SHARE
Basic earnings per share is net earnings available to common shareholders divided by the weighted average number of our outstanding common shares, including stock equivalent units where there is no circumstance under which those shares would not be issued.
Diluted earnings per share is net earnings available to common shareholders divided by the sum of the:
| | weighted average number of our outstanding common shares and |
|---|---|
| | the effect of our outstanding dilutive potential common shares. |
Dilutive potential common shares may include:
| | outstanding stock options, |
|---|---|
| | restricted stock units and |
| | performance share units. |
WEYERHAEUSER COMPANY >2023 ANNUAL REPORT AND FORM 10-K 75
Calculation of Weighted Average Number of Outstanding Common Shares – Dilutive
| SHARES IN THOUSANDS | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Weighted average number of outstanding shares — basic | 731,654 | 741,904 | 749,496 |
| Dilutive potential common shares: | |||
| Stock options | 132 | 253 | 336 |
| Restricted stock units | 201 | 423 | 764 |
| Performance share units | 235 | 373 | 387 |
| Total effect of outstanding dilutive potential common shares | 568 | 1,049 | 1,487 |
| Weighted average number of outstanding common shares — dilutive | 732,222 | 742,953 | 750,983 |
We use the treasury stock method to calculate the dilutive effect of our outstanding stock options, restricted stock units and performance share units. Share-based payment awards that are contingently issuable upon the achievement of specified performance or market conditions are included in our diluted earnings per share calculation in the period in which the conditions are satisfied.
SHARES EXCLUDED FROM DILUTIVE EFFECT
The following shares were not included in the computation of diluted earnings per share because they were either antidilutive or the required performance or market conditions were not met. Some or all of these shares may be dilutive potential common shares in future periods.
Potential Shares Not Included in the Computation of Diluted Earnings per Share
| SHARES IN THOUSANDS | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Stock options | 609 | 610 | — |
| Performance share units | 706 | 623 | 729 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.