Earnings Per Share
A summary of information used to compute basic and diluted earnings per share attributable to Visteon is as follows:
Year Ended December 31,
(In millions, except per share amounts)202520242023
Numerator:
Net income (loss) attributable to Visteon
$201 $296 $568 
Denominator:
Average common stock outstanding - basic
27.2 27.6 28.1
Dilutive effect of performance-based share units and other
0.4 0.3 0.4 
Diluted shares
27.6 27.9 28.5
Basic and Diluted Per Share Data:
Basic earnings (loss) per share attributable to Visteon:
$7.39 $10.72 $20.21 
Diluted earnings (loss) per share attributable to Visteon:
$7.28 $10.61 $19.93 
Balances shown reflect the change in accounting principle related to the method for assessing the realizability of U.S. deferred tax assets described in Note 1. Summary of Significant Accounting Policies
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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.