SIGNET JEWELERS LTDSIG

SIGNET JEWELERS LTD Earnings Per Share Disclosure

10-KFiled Mar 19, 20263 min read
Earnings (loss) per common share (“EPS”)
Basic EPS is computed by dividing net income (loss) attributable to common shareholders by the weighted average number of common shares outstanding for the period. The computation of basic EPS for Fiscal 2026, Fiscal 2025 and Fiscal 2024 is outlined in the table below:
(in millions, except per share amounts)Fiscal 2026Fiscal 2025Fiscal 2024
Numerator:
Net income (loss) attributable to common shareholders$294.4 $(35.6)$775.9 
Denominator:
Weighted average common shares outstanding41.3 44.1 44.9 
EPS – basic$7.13 $(0.81)$17.28 
The dilutive effect of share awards represents the potential impact of outstanding awards issued under the Company’s share-based compensation plans, including RSAs, RSUs, PSUs, and stock options issued under the Omnibus Plan. The dilutive effect of PSUs represents the number of contingently issuable shares that would be issuable if the end of the period was the end of the contingency period and is based on the actual achievement of performance metrics through the end of the current period. The dilutive effect of the Preferred Shares represented the potential impact for common shares that would have been issued upon conversion. Potential common share dilution related to share awards and Preferred Shares was determined using the treasury stock and if-converted methods, respectively. Prior to modifications of the Preferred Shares described in Note 6, under the if-converted method, the Preferred Shares were assumed to be converted at the beginning of the period, and the resulting common shares are included in the denominator of the diluted EPS calculation for the entire period being presented, only in the periods in which such effect is dilutive. Following the modifications, for any conversions, the denominator included the weighted average of the potential common shares for the period that the related Preferred Shares were outstanding prior to such conversion. Additionally, in periods in which the Preferred Shares were dilutive, cumulative dividends and accretion for issuance costs associated with the Preferred Shares were added back to net income (loss) attributable to common shareholders. Following the modifications, a modified if-converted method was used to determine potential common share dilution related to the remaining outstanding Preferred Shares. Under this method, dividends and accretion of issuance costs were no longer added back to net income (loss) attributable to common shareholders. See Note 6 for additional discussion of the Company’s Preferred Shares.
The computation of diluted EPS for Fiscal 2026, Fiscal 2025 and Fiscal 2024 is outlined in the table below:
(in millions, except per share amounts)Fiscal 2026Fiscal 2025Fiscal 2024
Numerator:
Net income (loss) attributable to common shareholders$294.4 $(35.6)$775.9 
Add: Dividends on Preferred Shares— — 34.5 
Numerator for diluted EPS$294.4 $(35.6)$810.4 
Denominator:
Basic weighted average common shares outstanding41.3 44.1 44.9 
Plus: Dilutive effect of share awards (1)
0.3 — 0.9 
Plus: Dilutive effect of Preferred Shares— — 8.2 
Diluted weighted average common shares outstanding41.6 44.1 54.0 
EPS – diluted$7.08 $(0.81)$15.01 
(1)    For Fiscal 2026, Fiscal 2025 and Fiscal 2024, the estimated dilutive effect of share awards includes 0.0 million, 0.0 million and 0.4 million of contingently issuable PSUs, respectively.
The calculation of diluted EPS excludes the following items for each respective period on the basis that their effect would be antidilutive:
(in millions)Fiscal 2026Fiscal 2025Fiscal 2024
Share awards0.1 0.4 — 
Potential impact of Preferred Shares— 1.7 — 
Total antidilutive shares0.1 2.1 — 
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Historical Timeline

Fiscal YearFiled
2026Mar 19, 2026Showing above
2025Mar 19, 2025

About Earnings Per Share Disclosures

The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.

Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.

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