Varex Imaging CorpVREX

Varex Imaging Corp Earnings Per Share Disclosure

10-KFiled Nov 18, 20252 min read
NET (LOSS) INCOME PER SHARE
    Basic net (loss) income per common share is computed by dividing the net (loss) income for the period by the weighted average number of shares of common stock outstanding during the reporting period. Diluted net (loss) income per common share reflects the effects of potentially dilutive securities, which is computed by dividing the sum of net (loss) income and any adjustments to net income by the sum of the weighted average number of common shares outstanding and dilutive common shares.
    A reconciliation of the numerator and denominator used in the calculation of basic and diluted net (loss) income per common share is as follows:
Fiscal Years
(In millions, except per share amounts)
202520242023
Net (loss) income per share - basic
Net (loss) income attributable to Varex$(70.3)$(48.8)$47.4 
Basic weighted average shares outstanding
41.4 40.8 40.3 
Basic net (loss) income per share attributable to Varex$(1.70)$(1.20)$1.18 
Net (loss) income per share - diluted
Net (loss) income attributable to Varex$(70.3)$(48.8)$47.4 
Interest expense on Convertible Notes, net of tax— — 6.2 
Diluted net (loss) income$(70.3)$(48.8)$53.6 
Basic weighted average shares outstanding41.4 40.8 40.3 
Dilutive effect of Convertible Notes— — 9.6 
Dilutive effect of share-based awards and other— — 0.4 
Diluted weighted average shares outstanding
41.4 40.8 50.3 
Diluted net (loss) income per share attributable to Varex$(1.70)$(1.20)$1.07 
Anti-dilutive share summary
Share-based awards and other
3.43.32.7
Convertible notes—9.6—
Warrants9.69.69.6
Total anti-dilutive shares13.022.512.3
    Potentially dilutive shares, which are based on the weighted-average shares of common stock underlying stock options, unvested stock awards, purchase rights granted under the employee stock purchase plan, warrants, and Convertible Notes using the treasury stock method or the if-converted method, as applicable, are included when calculating diluted net (loss) income per share attributable to Varex when their effect is dilutive.
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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.

Other Available Disclosures

Income TaxesRevenueFair ValuePP&EGoodwill & IntangiblesLeasesSegmentsDebtCommitmentsStock CompensationNew Standards