Clearwater Paper Corp
For the period ended Dec 31, 2025. Filed Feb 18, 2026.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Feb 18, 2026
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Earnings per Share
NOTE 14: EARNINGS PER SHARE
Basic earnings per share are based on the weighted average number of shares of common stock outstanding. Diluted earnings per share are based upon the weighted average number of shares of common stock outstanding plus all potentially dilutive securities that were assumed to be converted into common shares at the beginning of the period under the treasury stock method. This method requires that the effect of potentially dilutive common stock equivalents be excluded from the calculation of diluted earnings per share for the periods in which net losses from continuing operations are reported because the effect is anti-dilutive.
The following table reconciles the number of common shares used in calculating the basic and diluted net earnings per share:
| December 31, | |||
|---|---|---|---|
| (In thousands - except per share data) | 2025 | 2024 | 2023 |
| Basic average common shares outstanding | 16,169 | 16,781 | 16,863 |
| Incremental shares due to: | |||
| Stock-based awards | — | — | 148 |
| Performance Shares | — | — | 80 |
| Diluted average common shares outstanding | 16,169 | 16,781 | 17,091 |
Anti-dilutive shares excluded from the calculation were 0.4 million for the year ended December 31, 2025, and 0.3 million for the years ended December 31, 2024 and 2023.
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