Accurately calculate the weighted average number of shares outstanding for financial reporting.
Number of shares outstanding at the beginning of the period.
Number of shares issued (e.g., new stock offerings) during the period.
The date when the new shares were issued.
Number of shares repurchased (treasury stock) during the period.
The date when the shares were repurchased.
The last day of the reporting period.
Calculation Results
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Formula Used: Weighted Average Shares = Shares Outstanding at Start + (Shares Issued * Time Factor) – (Shares Repurchased * Time Factor)
The 'Time Factor' is the fraction of the reporting period that the shares were outstanding or repurchased.
Detailed Share Transactions
Description
Number of Shares
Time Factor
Weighted Shares
Shares at Period Start
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Shares Issued
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Shares Repurchased
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Total Weighted Shares
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Share Activity Over Period
What is Weighted Average Number of Shares Outstanding?
The weighted average number of shares outstanding is a crucial metric used in financial accounting, particularly for calculating Earnings Per Share (EPS). It represents the average number of a company's common shares that were outstanding during a reporting period, adjusted for the timing of any share issuances or repurchases. Unlike a simple average, the weighted average considers *when* shares entered or exited circulation. This ensures that the EPS figure accurately reflects the profitability attributable to each share over the entire reporting period, providing a more precise picture of shareholder value.
Companies with complex capital structures, including those that issue new shares, conduct share buybacks, or have convertible securities, must use the weighted average to comply with accounting standards like GAAP and IFRS. A misconception is that it's just the average of shares at the start and end of the period. In reality, it requires a detailed breakdown of each event that changed the number of shares and a calculation of how long each block of shares was outstanding.
This calculation is vital for investors, analysts, and management to understand a company's true profitability on a per-share basis. A fluctuating or artificially low weighted average can significantly impact key financial ratios, making it essential to calculate this figure correctly.
Weighted Average Shares Outstanding Formula and Mathematical Explanation
The fundamental formula for the weighted average number of shares outstanding is designed to account for the duration each share was outstanding.
Formula:
Weighted Average Shares = Σ (Number of Shares * Time Factor) for all share events
Let's break this down. The 'Time Factor' is the proportion of the reporting period that a specific block of shares was outstanding. If a company's reporting period is a full year (365 days), and new shares were issued exactly halfway through the year, those new shares would have a time factor of 0.5 (182.5 days / 365 days).
A more detailed approach, as used in the calculator, is:
Weighted Average Shares = (Shares Outstanding at Start * Time Factor for Start Shares) + (Shares Issued * Time Factor for Issued Shares) – (Shares Repurchased * Time Factor for Repurchased Shares)
Typically, shares outstanding at the start of the period are considered outstanding for the entire period, so their time factor is 1.
Variable Explanations:
Variables in Weighted Average Shares Calculation
Variable
Meaning
Unit
Typical Range
Shares Outstanding at Period Start
The count of common shares held by investors at the very beginning of the financial reporting period.
Shares
Non-negative integer
Shares Issued During Period
The count of new common shares created and sold or otherwise distributed by the company during the reporting period.
Shares
Non-negative integer
Date of Issuance
The specific date when the new shares were officially issued and became outstanding.
Date
Within the reporting period
Shares Repurchased During Period
The count of previously outstanding common shares bought back by the company (e.g., treasury stock).
Shares
Non-negative integer
Date of Repurchase
The specific date when the company repurchased the shares.
Date
Within the reporting period
Period End Date
The final day of the financial reporting period (e.g., quarter-end or year-end).
Date
End of reporting period
Time Factor
The proportion of the reporting period that a specific block of shares was outstanding or, in the case of repurchases, *not* outstanding. Calculated as (Days Shares Were Outstanding / Total Days in Period).
Decimal (0 to 1)
0 to 1
Weighted Average Shares Outstanding
The final calculated average number of shares outstanding, adjusted for timing. This is the primary output for EPS calculations.
Shares
Non-negative integer
Practical Examples (Real-World Use Cases)
Example 1: Standard Issuance During a Year
Scenario: TechCorp had 1,000,000 shares outstanding at the start of 2023. On July 1, 2023, they issued an additional 200,000 shares to fund expansion. The reporting period ends on December 31, 2023.
Inputs:
Shares Issued at Period Start: 1,000,000
Shares Issued During Period: 200,000
Date of Issuance: July 1, 2023
Shares Repurchased During Period: 0
Date of Repurchase: N/A
Period End Date: December 31, 2023
Calculation:
Total days in period (2023): 365
Shares at start (1,000,000) were outstanding for the full year (365 days). Time Factor = 365/365 = 1. Weighted = 1,000,000 * 1 = 1,000,000.
Shares issued (200,000) on July 1 were outstanding from July 1 to Dec 31 (184 days). Time Factor = 184/365 ≈ 0.504. Weighted = 200,000 * 0.504 ≈ 100,800.
No repurchases.
Output:
Weighted Average Shares Outstanding: 1,000,000 + 100,800 = 1,100,800 shares.
Financial Interpretation: Even though TechCorp ended the year with 1,200,000 shares, the weighted average is closer to 1.1 million. This means their EPS for 2023 will be calculated using 1,100,800 shares, providing a more accurate reflection of profitability distributed over the average number of shares that were supporting the company throughout the year.
Example 2: Issuance and Repurchase within a Quarter
Scenario: RetailGiant started Q2 2023 with 5,000,000 shares. On April 15, 2023, they repurchased 500,000 shares. On June 1, 2023, they issued 100,000 new shares. The quarter ends on June 30, 2023.
Inputs:
Shares Issued at Period Start: 5,000,000
Shares Issued During Period: 100,000
Date of Issuance: June 1, 2023
Shares Repurchased During Period: 500,000
Date of Repurchase: April 15, 2023
Period End Date: June 30, 2023
Calculation:
Total days in period (Q2 2023): 91 days (April 30 + May 31 + June 30).
Shares at start (5,000,000) were outstanding for the full quarter. Time Factor = 91/91 = 1. Weighted = 5,000,000 * 1 = 5,000,000.
Shares issued (100,000) on June 1 were outstanding from June 1 to June 30 (30 days). Time Factor = 30/91 ≈ 0.330. Weighted = 100,000 * 0.330 ≈ 33,000.
Shares repurchased (500,000) on April 15 were outstanding from April 1 to April 15 (15 days). Time Factor = 15/91 ≈ 0.165. Weighted = 500,000 * 0.165 ≈ 82,500. These are subtracted.
Financial Interpretation: Despite starting with 5 million shares and ending with 4.6 million shares (5M + 100K – 500K), the weighted average is slightly higher at 4,950,500. This is because the shares were repurchased early in the quarter, reducing the average more significantly than the later issuance increased it. This detailed calculation ensures accurate EPS reporting. For more complex scenarios, exploring dilutive securities impact on EPS is recommended.
How to Use This Weighted Average Shares Calculator
Our calculator simplifies the process of determining the weighted average number of shares outstanding. Follow these steps for accurate results:
Input Period Start Shares: Enter the total number of common shares your company had outstanding on the very first day of your reporting period (e.g., January 1st for an annual report, April 1st for a Q2 report).
Input Issued Shares: Enter the total number of new common shares issued by your company during the reporting period. This could be from new stock offerings, employee stock options exercised, etc.
Enter Issuance Date: Specify the exact date when these new shares were issued. This is critical for calculating the time factor.
Input Repurchased Shares: Enter the total number of common shares your company bought back (treasury stock) during the reporting period.
Enter Repurchase Date: Specify the exact date when these shares were repurchased.
Enter Period End Date: Provide the last day of your financial reporting period (e.g., March 31st, June 30th, December 31st).
Click Calculate: Press the "Calculate" button. The calculator will automatically compute the weighted average shares, along with the weighted contribution of each transaction type.
Reading the Results:
Weighted Average Shares Outstanding: This is your primary result, the number you'll use for EPS calculations.
Weighted Shares from Start, Weighted Issued Shares, Weighted Repurchased Shares: These intermediate values show how each component contributed to the final weighted average. Notice that issued shares add to the average, while repurchased shares subtract from it.
Detailed Table: The table breaks down the calculation further, showing the number of shares, the calculated time factor for each event, and their weighted impact.
Chart: The visual chart illustrates the impact of share issuances and repurchases over the period.
Decision-Making Guidance: Understanding your weighted average shares is key. If your company is planning share buybacks or new issuances, this calculator helps forecast their impact on future EPS calculations. A higher weighted average generally lowers EPS (assuming constant net income), while a lower average increases it. Strategic decisions around share count should always consider their effect on shareholder value metrics. For guidance on share structures, consult resources on capital structure optimization.
Key Factors That Affect Weighted Average Shares Results
Several factors influence the calculation and interpretation of the weighted average number of shares outstanding:
Timing of Transactions: This is the most significant factor. Shares issued on the last day of the period have a minimal impact, while those issued early have a much larger effect. Similarly, repurchases early in the period reduce the average more than those late in the period.
Volume of Share Changes: The sheer number of shares issued or repurchased dramatically impacts the result. A large issuance will significantly increase the weighted average, diluting EPS, while a large repurchase will decrease it, potentially boosting EPS.
Length of the Reporting Period: Whether the period is a quarter (approx. 90 days) or a full year (365 days) affects the Time Factor calculation. A transaction's impact is spread over a longer duration in an annual period compared to a quarterly one.
Stock Splits and Reverse Splits: These events require restating prior period share counts to ensure comparability. For example, a 2-for-1 stock split means all historical share numbers (including the beginning balance) are doubled. Our calculator assumes no splits within the period unless specified in inputs.
Issuance of Convertible Securities: While not directly part of the basic calculation, the potential issuance of shares through convertible bonds or preferred stock can lead to calculations of diluted EPS, which considers these potential future shares. Understanding the difference between basic and diluted EPS is crucial. Explore diluted earnings per share explained for more.
Company Growth Strategy: Companies aiming for rapid growth might issue more stock to raise capital, increasing the weighted average. Mature companies might engage in share repurchases to return capital to shareholders or boost EPS, decreasing the weighted average. Strategic alignment is key.
Market Conditions and Investor Sentiment: Favorable market conditions might encourage share buybacks, while a need for capital during economic downturns might lead to share issuances. Investor demand for shares can also influence a company's decision to issue new equity.
Frequently Asked Questions (FAQ)
Q1: What is the difference between basic EPS and diluted EPS?
Basic EPS uses the weighted average number of common shares outstanding. Diluted EPS includes the potential effect of all dilutive securities (like stock options, warrants, and convertible bonds) that could become common shares, thus lowering EPS.
Q2: Why is the weighted average number of shares important?
It's vital for accurately calculating Earnings Per Share (EPS), a key metric used by investors and analysts to assess a company's profitability on a per-share basis. It ensures fair comparison across periods and companies by accounting for the timing of share changes.
Q3: Can the weighted average number of shares be less than the shares outstanding at the end of the period?
Yes. If a company repurchases a significant number of shares during the period, especially later in the period, the weighted average can be lower than the ending balance.
Q4: How do stock splits affect the weighted average shares calculation?
Stock splits (and reverse splits) are typically treated as if they occurred at the beginning of the earliest period presented. This means the weighted average number of shares for all periods presented, as well as any prior comparable periods, must be retroactively adjusted to reflect the split ratio for proper comparability.
Q5: What if shares are issued or repurchased on the exact start or end date of the period?
If issued on the first day, they are counted for the full period (Time Factor = 1). If repurchased on the last day, they are effectively outstanding for the full period, and their repurchase has no impact on the weighted average for that period. If issued on the last day, or repurchased on the first day, their impact on the weighted average for that specific period is zero.
Q6: Does the calculator handle preferred stock?
This specific calculator focuses on common shares outstanding. Preferred stock dividends are subtracted from net income before calculating EPS for common shareholders, but the preferred shares themselves are not included in the weighted average calculation for common EPS.
Q7: What constitutes a "reporting period"?
A reporting period is the interval of time covered by a financial statement. Common periods include quarters (three months) and fiscal years (twelve months). The accuracy of the time factor calculation depends on correctly identifying the start and end dates of this period.
Q8: How often should weighted average shares be calculated?
Companies are required to calculate and report weighted average shares outstanding for basic and diluted EPS on a quarterly and annual basis, aligning with their financial reporting cycles. For advanced financial analysis techniques, understanding this metric is fundamental.
Q9: Can fractional shares impact the calculation?
Yes. While often presented as whole numbers, if share transactions result in fractional shares (e.g., through stock dividends or certain types of acquisitions), these should be included in the counts for accuracy. Our calculator accepts decimal inputs for shares.
Deep dive into methods for evaluating company performance.
var chartInstance = null; // Global variable to hold the chart instance
function calculateTimeFactor(startDateStr, endDateStr) {
var periodStartDate = new Date(document.getElementById('periodEndDate').value);
periodStartDate.setDate(periodStartDate.getDate() – calculateDaysInPeriod(document.getElementById('periodEndDate').value) + 1);
var startDate = new Date(startDateStr);
var endDate = new Date(endDateStr);
var totalDaysInPeriod = calculateDaysInPeriod(document.getElementById('periodEndDate').value);
if (totalDaysInPeriod === 0) return 0;
var daysOutstanding = 0;
var currentDate = new Date(startDate);
while (currentDate <= endDate && currentDate periodStartDate ? startDate : periodStartDate;
var effectiveEndDate = endDate effectiveEndDate) {
return 0;
}
daysOutstanding = Math.floor((effectiveEndDate – effectiveStartDate) / (1000 * 60 * 60 * 24)) + 1;
return daysOutstanding / totalDaysInPeriod;
}
function calculateDaysInPeriod(periodEndDateStr) {
var periodEndDate = new Date(periodEndDateStr);
var periodStartDate = new Date(periodEndDate.getFullYear(), 0, 1); // Assume Jan 1st if not explicitly set, or adjust based on quarter
// Determine the start date of the period more accurately
var month = periodEndDate.getMonth();
var year = periodEndDate.getFullYear();
if (month >= 0 && month = 3 && month = 6 && month <= 8) { // Q3
periodStartDate = new Date(year, 6, 1);
} else { // Q4
periodStartDate = new Date(year, 9, 1);
}
var timeDiff = periodEndDate.getTime() – periodStartDate.getTime();
var days = Math.ceil(timeDiff / (1000 * 3600 * 24)) + 1; // Add 1 to include both start and end dates
return days;
}
function calculateWeightedAverageShares() {
var sharesIssuedStart = parseFloat(document.getElementById("sharesIssuedStart").value);
var sharesIssuedDuring = parseFloat(document.getElementById("sharesIssuedDuring").value);
var dateOfIssuance = document.getElementById("dateOfIssuance").value;
var sharesRepurchased = parseFloat(document.getElementById("sharesRepurchased").value);
var dateOfRepurchase = document.getElementById("dateOfRepurchase").value;
var periodEndDate = document.getElementById("periodEndDate").value;
var errors = false;
// Clear previous errors
document.getElementById("sharesIssuedStartError").style.display = "none";
document.getElementById("sharesIssuedDuringError").style.display = "none";
document.getElementById("dateOfIssuanceError").style.display = "none";
document.getElementById("sharesRepurchasedError").style.display = "none";
document.getElementById("dateOfRepurchaseError").style.display = "none";
document.getElementById("periodEndDateError").style.display = "none";
// Input Validation
if (isNaN(sharesIssuedStart) || sharesIssuedStart < 0) {
document.getElementById("sharesIssuedStartError").innerText = "Please enter a valid non-negative number.";
document.getElementById("sharesIssuedStartError").style.display = "block";
errors = true;
}
if (isNaN(sharesIssuedDuring) || sharesIssuedDuring < 0) {
document.getElementById("sharesIssuedDuringError").innerText = "Please enter a valid non-negative number.";
document.getElementById("sharesIssuedDuringError").style.display = "block";
errors = true;
}
if (isNaN(sharesRepurchased) || sharesRepurchased = 0 && month = 3 && month = 6 && month <= 8) { periodStartObj = new Date(year, 6, 1); }
else { periodStartObj = new Date(year, 9, 1); }
var issuanceDateObj = new Date(dateOfIssuance);
var repurchaseDateObj = new Date(dateOfRepurchase);
var periodEndDateObj = new Date(periodEndDate);
if (issuanceDateObj periodEndDateObj) {
document.getElementById("dateOfIssuanceError").innerText = "Issuance date must be within the reporting period.";
document.getElementById("dateOfIssuanceError").style.display = "block";
errors = true;
}
if (repurchaseDateObj periodEndDateObj) {
document.getElementById("dateOfRepurchaseError").innerText = "Repurchase date must be within the reporting period.";
document.getElementById("dateOfRepurchaseError").style.display = "block";
errors = true;
}
if (issuanceDateObj > periodEndDateObj || repurchaseDateObj > periodEndDateObj) {
document.getElementById("periodEndDateError").innerText = "Period end date must be after issuance/repurchase dates.";
document.getElementById("periodEndDateError").style.display = "block";
errors = true;
}
if (errors) {
resetResults();
return;
}
var totalDays = calculateDaysInPeriod(periodEndDate);
var periodStartDate = new Date(periodEndDate);
var month = periodEndDate.getMonth();
var year = periodEndDate.getFullYear();
if (month >= 0 && month = 3 && month = 6 && month = 4 && parseInt(month) = 7 && parseInt(month) = 10 && parseInt(month) <= 12) { // Q4
periodStartObj = new Date(year, 9, 1);
} else { // Q1
periodStartObj = new Date(year, 0, 1);
}
var issuanceDateObj = new Date(document.getElementById('dateOfIssuance').value);
var repurchaseDateObj = new Date(document.getElementById('dateOfRepurchase').value);
// Ensure dates are within the period for chart display
if (issuanceDateObj < periodStartObj) issuanceDateObj = periodStartObj;
if (repurchaseDateObj new Date(periodEndDateStr)) issuanceDateObj = new Date(periodEndDateStr);
if (repurchaseDateObj > new Date(periodEndDateStr)) repurchaseDateObj = new Date(periodEndDateStr);
var labels = ['Period Start', 'Issuance Date', 'Repurchase Date', 'Period End'];
var dataPoints = {
start: startShares,
issued: issuedShares,
repurchased: repurchasedShares
};
var chartData = {
labels: labels,
datasets: [
{
label: 'Shares at Start (Weighted)',
data: [
dataPoints.start,
dataPoints.start,
dataPoints.start,
dataPoints.start
],
borderColor: '#004a99',
backgroundColor: 'rgba(0, 74, 153, 0.2)',
fill: true,
spanGaps: true // Ensures line continues if dates are missing
},
{
label: 'Issued Shares (Weighted)',
data: [
null, // No value at period start
dataPoints.start + (dataPoints.issued * (calculateTimeFactor(document.getElementById('dateOfIssuance').value, document.getElementById('dateOfIssuance').value) / issuedFactor)), // Placeholder for issuance point if needed, but better to show effect later
dataPoints.start + (dataPoints.issued * (calculateTimeFactor(document.getElementById('dateOfIssuance').value, document.getElementById('dateOfIssuance').value) / issuedFactor)), // Placeholder
dataPoints.start + dataPoints.issued // Weighted effect by period end
],
borderColor: '#28a745',
backgroundColor: 'rgba(40, 167, 69, 0.2)',
fill: true,
spanGaps: true
},
{
label: 'Repurchased Shares (Weighted)',
data: [
null, // No value at period start
dataPoints.start, // Placeholder
dataPoints.start – (dataPoints.repurchased * (calculateTimeFactor(document.getElementById('dateOfRepurchase').value, document.getElementById('dateOfRepurchase').value) / repurchasedFactor)), // Placeholder
dataPoints.start – dataPoints.repurchased // Weighted effect by period end
],
borderColor: '#dc3545',
backgroundColor: 'rgba(220, 53, 69, 0.2)',
fill: true,
spanGaps: true
}
]
};
// Simplified chart: show contribution by period end
chartData.datasets[0].data = [dataPoints.start, dataPoints.start, dataPoints.start, dataPoints.start];
chartData.datasets[1].data = [null, null, null, dataPoints.start + dataPoints.issued];
chartData.datasets[2].data = [null, null, null, dataPoints.start – dataPoints.repurchased];
// Adjust labels to reflect actual event points
var chartLabels = ['Period Start'];
var dataset1 = [dataPoints.start];
var dataset2 = [null];
var dataset3 = [null];
// Add issuance date if it's distinct and within period
if (issuanceDateObj.getTime() !== periodStartObj.getTime() && issuanceDateObj <= new Date(periodEndDateStr)) {
chartLabels.push(issuanceDateObj.toLocaleDateString());
dataset1.push(dataPoints.start); // Shares before issuance
dataset2.push(dataPoints.start + dataPoints.issued); // Shares after issuance
dataset3.push(null); // No repurchase effect yet for this series
}
// Add repurchase date if it's distinct and within period
if (repurchaseDateObj.getTime() !== periodStartObj.getTime() && repurchaseDateObj <= new Date(periodEndDateStr)) {
chartLabels.push(repurchaseDateObj.toLocaleDateString());
dataset1.push(dataPoints.start); // Shares before repurchase
dataset2.push(dataPoints.start + dataPoints.issued); // Shares remain same before repurchase
dataset3.push(dataPoints.start – dataPoints.repurchased); // Shares after repurchase
}
// Always add Period End
chartLabels.push('Period End');
dataset1.push(dataPoints.start);
dataset2.push(dataPoints.start + dataPoints.issued);
dataset3.push(dataPoints.start – dataPoints.repurchased);
// Adjust dataset lengths to match labels, filling with nulls where needed
var maxLength = chartLabels.length;
while(dataset1.length < maxLength) dataset1.push(null);
while(dataset2.length < maxLength) dataset2.push(null);
while(dataset3.length periodStartObj && issuanceDateObj periodStartObj && repurchaseDateObj <= new Date(periodEndDateStr)) {
// Determine the share count *before* repurchase if issuance happened earlier
var sharesBeforeRepurchase = startShares;
if (issuanceDateObj < repurchaseDateObj) {
sharesBeforeRepurchase = startShares + weightedIssuedShares; // Approximation, should use exact weighted value at issuance
}
points.push({ date: repurchaseDateObj, value: startShares – weightedRepurchasedShares, type: 'repurchase' }); // Simplified: shows reduction from start
}
// Sort points by date
points.sort(function(a, b) { return a.date – b.date; });
// Add points to chart data
for (var i = 0; i < points.length; i++) {
finalChartData.labels.push(points[i].date.toLocaleDateString());
// The value should represent the cumulative weighted shares *after* the event
if (points[i].type === 'issuance') {
finalChartData.datasets[0].data.push(startShares + weightedIssuedShares); // Cumulative value after issuance
} else if (points[i].type === 'repurchase') {
// If issuance also occurred, we need the value *after* issuance but *before* repurchase
var cumulativeValueBeforeRepurchase = startShares; // Default
if (issuanceDateObj < repurchaseDateObj) {
cumulativeValueBeforeRepurchase = startShares + weightedIssuedShares;
}
finalChartData.datasets[0].data.push(cumulativeValueBeforeRepurchase – weightedRepurchasedShares); // Cumulative value after repurchase
} else {
finalChartData.datasets[0].data.push(finalChartData.datasets[0].data[finalChartData.datasets[0].data.length – 1]); // Maintain previous value if event date is same as previous
}
}
// Add period end point
finalChartData.labels.push('Period End');
finalChartData.datasets[0].data.push(totalWeighted);
// Ensure dataset length matches labels
while(finalChartData.datasets[0].data.length < finalChartData.labels.length) {
finalChartData.datasets[0].data.push(finalChartData.datasets[0].data[finalChartData.datasets[0].data.length – 1]);
}
chartInstance = new Chart(ctx, {
type: 'line',
data: finalChartData,
options: {
responsive: true,
maintainAspectRatio: false,
scales: {
y: {
beginAtZero: true,
title: {
display: true,
text: 'Number of Shares'
}
},
x: {
title: {
display: true,
text: 'Date'
}
}
},
plugins: {
tooltip: {
callbacks: {
label: function(context) {
var label = context.dataset.label || '';
if (label) {
label += ': ';
}
if (context.parsed.y !== null) {
label += context.parsed.y.toLocaleString(undefined, { maximumFractionDigits: 0 });
}
return label;
}
}
}
}
}
});
}
// Initial calculation on load if default values are present
document.addEventListener('DOMContentLoaded', function() {
calculateWeightedAverageShares();
// Set default dates to be within the same year for consistency if period end is changed
var periodEndDateInput = document.getElementById('periodEndDate');
periodEndDateInput.addEventListener('change', function() {
var year = this.value.split('-')[0];
var periodStartDate = new Date(year, 0, 1);
var periodEndDate = new Date(this.value);
var defaultIssuanceDate = new Date(year, 0, 1); // Jan 1st
var defaultRepurchaseDate = new Date(year, 0, 1); // Jan 1st
// Adjust if default dates fall outside the new period
if (defaultIssuanceDate < periodStartDate) defaultIssuanceDate = periodStartDate;
if (defaultRepurchaseDate periodEndDate) defaultIssuanceDate = periodEndDate;
if (defaultRepurchaseDate > periodEndDate) defaultRepurchaseDate = periodEndDate;
document.getElementById('dateOfIssuance').value = defaultIssuanceDate.toISOString().split('T')[0];
document.getElementById('dateOfRepurchase').value = defaultRepurchaseDate.toISOString().split('T')[0];
// Recalculate if values are present
calculateWeightedAverageShares();
});
// Adjust dates when inputting manually
document.getElementById('dateOfIssuance').addEventListener('change', function() {
var periodEndDate = new Date(document.getElementById('periodEndDate').value);
var issuanceDate = new Date(this.value);
if (issuanceDate > periodEndDate) {
this.value = periodEndDate.toISOString().split('T')[0];
}
calculateWeightedAverageShares();
});
document.getElementById('dateOfRepurchase').addEventListener('change', function() {
var periodEndDate = new Date(document.getElementById('periodEndDate').value);
var repurchaseDate = new Date(this.value);
if (repurchaseDate > periodEndDate) {
this.value = periodEndDate.toISOString().split('T')[0];
}
calculateWeightedAverageShares();
});
});