WESTERN DIGITAL CORP Earnings Per Share Disclosure
| 2025 | 2024 | 2023 | |||||||||||||||
| (in millions, except per share data) | |||||||||||||||||
| Net income (loss) from continuing operations | $ | 1,643 | $ | (765) | $ | (902) | |||||||||||
| Less: dividends allocated to preferred shareholders | 17 | 54 | 24 | ||||||||||||||
| Less: income attributable to participating securities | 28 | — | — | ||||||||||||||
Net income (loss) from continuing operations attributable to common shareholders - basic | 1,598 | (819) | (926) | ||||||||||||||
Net income (loss) from discontinued operations, net of taxes, attributable to common shareholders | 242 | (33) | (782) | ||||||||||||||
Net income (loss) attributable to common shareholders - basic | $ | 1,840 | $ | (852) | $ | (1,708) | |||||||||||
Net income (loss) from continuing operations attributable to common shareholders - basic | $ | 1,598 | $ | (819) | $ | (926) | |||||||||||
| Re-allocation of participating securities considered potentially dilutive securities | 1 | — | — | ||||||||||||||
Net income (loss) from continuing operations attributable to common shareholders - diluted | 1,599 | (819) | (926) | ||||||||||||||
Net income (loss) from discontinued operations, net of taxes, attributable to common shareholders | 242 | (33) | (782) | ||||||||||||||
Net income (loss) attributable to common shareholders - diluted | $ | 1,841 | $ | (852) | $ | (1,708) | |||||||||||
| Weighted average shares: | |||||||||||||||||
| Basic | 347 | 326 | 318 | ||||||||||||||
RSUs, PSUs, ESPP, and the convertible notes | 12 | — | — | ||||||||||||||
| Diluted | 359 | 326 | 318 | ||||||||||||||
| Net income (loss) per common share: | |||||||||||||||||
Continuing operations - basic | $ | 4.61 | $ | (2.51) | $ | (2.91) | |||||||||||
Discontinued operations - basic | 0.70 | (0.10) | (2.46) | ||||||||||||||
Net income (loss) per common share - basic | 5.31 | (2.61) | (5.37) | ||||||||||||||
Continuing operations - diluted | 4.45 | (2.51) | (2.91) | ||||||||||||||
Discontinued operations - diluted | 0.67 | (0.10) | (2.46) | ||||||||||||||
Net income (loss) per common share - diluted | 5.12 | (2.61) | (5.37) | ||||||||||||||
| Anti-dilutive potential common shares excluded | — | 22 | 14 | ||||||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Aug 14, 2025 | Showing above |
| 2024 | Aug 20, 2024 | |
| 2023 | Aug 22, 2023 | |
| 2022 | Aug 25, 2022 | |
| 2021 | Aug 27, 2021 | |
| 2020 | Aug 28, 2020 | |
| 2019 | Aug 27, 2019 | |
| 2018 | Aug 24, 2018 | |
| 2017 | Aug 29, 2017 | |
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.