THERMO FISHER SCIENTIFIC INC. Earnings Per Share Disclosure
| (In millions except per share amounts) | 2023 | 2022 | 2021 | |||||||||||||||||
Net income attributable to Thermo Fisher Scientific Inc. | $ | 5,995 | $ | 6,950 | $ | 7,725 | ||||||||||||||
Basic weighted average shares | 386 | 392 | 394 | |||||||||||||||||
Plus effect of: stock options and restricted stock units | 2 | 2 | 3 | |||||||||||||||||
Diluted weighted average shares | 388 | 394 | 397 | |||||||||||||||||
Basic earnings per share | $ | 15.52 | $ | 17.75 | $ | 19.62 | ||||||||||||||
Diluted earnings per share | $ | 15.45 | $ | 17.63 | $ | 19.46 | ||||||||||||||
Antidilutive stock options excluded from diluted weighted average shares | 2 | 2 | 1 | |||||||||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2023 | Feb 22, 2024 | Showing above |
| 2022 | Feb 23, 2023 | |
| 2021 | Feb 24, 2022 | |
| 2020 | Feb 25, 2021 | |
| 2019 | Feb 26, 2020 | |
| 2018 | Feb 27, 2019 | |
| 2017 | Feb 28, 2018 | |
| 2016 | Feb 28, 2017 | |
| 2015 | Feb 25, 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.