Earnings Per Share

Net income (loss) from continuing operations, net income (loss) attributable to MCBC and related basic and diluted per share amounts for 2016 and 2015 have been revised to reflect the retrospective application of our change in accounting policy as discussed in Note 1, "Basis of Presentation and Summary of Significant Accounting Policies".

Basic EPS was computed using the weighted-average number of shares of common stock outstanding during the period. Diluted EPS includes the additional dilutive effect of our potentially dilutive securities, which include RSUs, DSUs, PSUs, stock options and SOSARs. The dilutive effects of our potentially dilutive securities are calculated using the treasury stock method.



	For the years ended
	December 31, 2017		December 31, 2016			December 31, 2015
	(In millions, except per share amounts)
Amounts attributable to Molson Coors Brewing Company:
Net income (loss) from continuing operations	$	1,412.7	$	1,995.8		$	391.3
Income (loss) from discontinued operations, net of tax	1.5		(2.8		)	3.9
Net income (loss) attributable to Molson Coors Brewing Company	$	1,414.2	$	1,993.0		$	395.2
Weighted-average shares for basic EPS	215.4		212.0			185.3
Effect of dilutive securities:
RSUs, DSUs, and PSUs	0.6		0.8			0.7
Stock options and SOSARs	0.5		0.6			0.4
Weighted-average shares for diluted EPS	216.5		213.4			186.4
Basic net income (loss) attributable to Molson Coors Brewing Company per share:
From continuing operations	$	6.56	$	9.41		$	2.11
From discontinued operations	0.01		(0.01		)	0.02
Basic net income (loss) attributable to Molson Coors Brewing Company per share	$	6.57	$	9.40		$	2.13
Diluted net income (loss) attributable to Molson Coors Brewing Company per share:
From continuing operations	$	6.52	$	9.35		$	2.10
From discontinued operations	0.01		(0.01		)	0.02
Diluted net income (loss) attributable to Molson Coors Brewing Company per share	$	6.53	$	9.34		$	2.12
Dividends declared and paid per share	$	1.64	$	1.64		$	1.64

Our calculation of weighted-average shares includes Class A common stock and Class B common stock, and Class A exchangeable shares and Class B exchangeable shares. All classes of stock have in effect the same dividend rights and share equitably in undistributed earnings. Holders of Class A common stock receive dividends only to the extent dividends are declared and paid to holders of Class B common stock. See Note 8, "Stockholders' Equity" for further discussion of the Class A common stock and Class B common stock and Class A exchangeable shares and Class B exchangeable shares. We have no unvested outstanding equity share awards that contain non-forfeitable rights to dividends.

The following anti-dilutive securities were excluded from the computation of the effect of dilutive securities on diluted EPS:



	For the years ended
	December 31, 2017	December 31, 2016	December 31, 2015
	(In millions)
RSUs, stock options and SOSARs	0.3	0.1	0.1

Class B Common Stock Equity Issuance

On February 3, 2016, we completed an underwritten public offering of our Class B common stock to partially fund the Acquisition, which increased the number of Class B common shares issued and outstanding by 29.9 million shares, and received proceeds of approximately $2.5 billion, net of issuance costs. See Note 8, "Stockholders' Equity" for further discussion.

Historical Timeline

Fiscal Year	Filed
2017	Feb 14, 2018	Showing above
2016	Feb 14, 2017

2015	Feb 11, 2016

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.

MOLSON COORS BEVERAGE CO Earnings Per Share Disclosure

Historical Timeline

About Earnings Per Share Disclosures

Other Available Disclosures