Exhibit 11
Pinnacle Entertainment, Inc.
Computation of Earnings Per Share
(in thousands, except per share data)
|
| | | | | | | | | | | | | | | |
| | For the three months ended September 30, |
| | Basic | | Diluted (a) |
| | 2016 | | 2015 | | 2016 | | 2015 |
| Weighted average number of common shares outstanding | 57,004 |
| | 61,187 |
| | 57,004 |
| | 61,187 |
|
| Potential dilution from share-based awards | — |
| | — |
| | — |
| | 2,404 |
|
| Total shares | 57,004 |
| | 61,187 |
| | 57,004 |
| | 63,591 |
|
| | | | | | | | |
| Income (loss) from continuing operations | $ | (532 | ) | | $ | 13,468 |
| | $ | (532 | ) | | $ | 13,468 |
|
| Income from discontinued operations, net of income taxes | 37 |
| | 272 |
| | 37 |
| | 272 |
|
| Net income (loss) | (495 | ) | | 13,740 |
| | (495 | ) | | 13,740 |
|
| Net loss attributable to non-controlling interest | (9 | ) | | (9 | ) | | (9 | ) | | (9 | ) |
| Net income (loss) attributable to Pinnacle Entertainment, Inc. | $ | (486 | ) | | $ | 13,749 |
| | $ | (486 | ) | | $ | 13,749 |
|
| | | | | | | | |
| Per share data: | | | | | | | |
| Income (loss) from continuing operations | $ | (0.01 | ) | | $ | 0.22 |
| | $ | (0.01 | ) | | $ | 0.22 |
|
| Income from discontinued operations, net of income taxes | 0.00 |
| | 0.00 |
| | 0.00 |
| | 0.00 |
|
| Net income (loss) per common share | $ | (0.01 | ) | | $ | 0.22 |
| | $ | (0.01 | ) | | $ | 0.22 |
|
| | | | | | | | |
| | For the nine months ended September 30, |
| | Basic | | Diluted (a) |
| | 2016 | | 2015 | | 2016 | | 2015 |
| Average number of common shares outstanding | 59,722 |
| | 60,936 |
| | 59,722 |
| | 60,936 |
|
| Average common shares due to assumed conversion of stock options | — |
| | — |
| | — |
| | 2,255 |
|
| Total shares | 59,722 |
| | 60,936 |
| | 59,722 |
| | 63,191 |
|
| | | | | | | | |
| Income (loss) from continuing operations | $ | (448,841 | ) | | $ | 56,340 |
| | $ | (448,841 | ) | | $ | 56,340 |
|
| Income from discontinued operations, net of income taxes | 433 |
| | 5,188 |
| | 433 |
| | 5,188 |
|
| Net income (loss) | (448,408 | ) | | 61,528 |
| | (448,408 | ) | | 61,528 |
|
| Net loss attributable to non-controlling interest | (24 | ) | | (1,271 | ) | | (24 | ) | | (1,271 | ) |
| Net income (loss) attributable to Pinnacle Entertainment, Inc. | $ | (448,384 | ) | | $ | 62,799 |
| | $ | (448,384 | ) | | $ | 62,799 |
|
| | | | | | | | |
| Per share data: | | | | | | | |
| Income (loss) from continuing operations | $ | (7.52 | ) | | $ | 0.94 |
| | $ | (7.52 | ) | | $ | 0.91 |
|
| Income from discontinued operations, net of income taxes | 0.01 |
| | 0.09 |
| | 0.01 |
| | 0.08 |
|
| Net income (loss) per common share | $ | (7.51 | ) | | $ | 1.03 |
| | $ | (7.51 | ) |
| $ | 0.99 |
|
| |
| (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. |
