Exhibit 11
Pinnacle Entertainment, Inc.
Computation of Earnings Per Share
(in thousands, except per share data)
|
| | | | | | | | | | | | | | | |
| | For the three months ended June 30, |
| | Basic | | Diluted (a) |
| | 2016 | | 2015 | | 2016 | | 2015 |
| Weighted average number of common shares outstanding | 60,791 |
| | 60,976 |
| | 60,791 |
| | 60,976 |
|
| Potential dilution from share-based awards | — |
| | — |
| | — |
| | 2,379 |
|
| Total shares | 60,791 |
| | 60,976 |
| | 60,791 |
| | 63,355 |
|
| | | | | | | | |
| Income (loss) from continuing operations | $ | (489,202 | ) | | $ | 15,793 |
| | $ | (489,202 | ) | | $ | 15,793 |
|
| Income from discontinued operations, net of income taxes | 271 |
| | 4,699 |
| | 271 |
| | 4,699 |
|
| Net income (loss) | (488,931 | ) | | 20,492 |
| | (488,931 | ) | | 20,492 |
|
| Net loss attributable to non-controlling interest | (7 | ) | | (1,252 | ) | | (7 | ) | | (1,252 | ) |
| Net income (loss) attributable to Pinnacle Entertainment, Inc. | $ | (488,924 | ) | | $ | 21,744 |
| | $ | (488,924 | ) | | $ | 21,744 |
|
| | | | | | | | |
| Per share data: | | | | | | | |
| Income (loss) from continuing operations | $ | (8.04 | ) | | $ | 0.28 |
| | $ | (8.04 | ) | | $ | 0.27 |
|
| Income from discontinued operations, net of income taxes | 0.00 |
| | 0.08 |
| | 0.00 |
| | 0.07 |
|
| Net income (loss) per common share | $ | (8.04 | ) | | $ | 0.36 |
| | $ | (8.04 | ) | | $ | 0.34 |
|
| | | | | | | | |
| | For the six months ended June 30, |
| | Basic | | Diluted (a) |
| | 2016 | | 2015 | | 2016 | | 2015 |
| Average number of common shares outstanding | 61,077 |
| | 60,808 |
| | 61,077 |
| | 60,808 |
|
| Average common shares due to assumed conversion of stock options | — |
| | — |
| | — |
| | 2,165 |
|
| Total shares | 61,077 |
| | 60,808 |
| | 61,077 |
| | 62,973 |
|
| | | | | | | | |
| Income (loss) from continuing operations | $ | (448,309 | ) | | $ | 42,872 |
| | $ | (448,309 | ) | | $ | 42,872 |
|
| Income from discontinued operations, net of income taxes | 396 |
| | 4,916 |
| | 396 |
| | 4,916 |
|
| Net income (loss) | (447,913 | ) | | 47,788 |
| | (447,913 | ) | | 47,788 |
|
| Net loss attributable to non-controlling interest | (15 | ) | | (1,262 | ) | | (15 | ) | | (1,262 | ) |
| Net income (loss) attributable to Pinnacle Entertainment, Inc. | $ | (447,898 | ) | | $ | 49,050 |
| | $ | (447,898 | ) | | $ | 49,050 |
|
| | | | | | | | |
| Per share data: | | | | | | | |
| Income (loss) from continuing operations | $ | (7.34 | ) | | $ | 0.73 |
| | $ | (7.34 | ) | | $ | 0.70 |
|
| Income from discontinued operations, net of income taxes | 0.01 |
| | 0.08 |
| | 0.01 |
| | 0.08 |
|
| Net income (loss) per common share | $ | (7.33 | ) | | $ | 0.81 |
| | $ | (7.33 | ) |
| $ | 0.78 |
|
| |
| (a) | When the impact of share-based awards is anti-dilutive, the weighted average number of common shares outstanding is used in the determination of basic and diluted earnings per share. |
