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) |
| | 2017 | | 2016 | | 2017 | | 2016 |
| Weighted average number of common shares outstanding | 56,648 |
| | 60,791 |
| | 56,648 |
| | 60,791 |
|
| Potential dilution from share-based awards | — |
| | — |
| | 5,236 |
| | — |
|
| Total shares | 56,648 |
| | 60,791 |
| | 61,884 |
| | 60,791 |
|
| | | | | | | | |
| Income (loss) from continuing operations | $ | 8,426 |
| | $ | (489,202 | ) | | $ | 8,426 |
| | $ | (489,202 | ) |
| Income from discontinued operations, net of income taxes | — |
| | 271 |
| | — |
| | 271 |
|
| Net income (loss) | 8,426 |
| | (488,931 | ) | | 8,426 |
| | (488,931 | ) |
| Less: Net loss attributable to non-controlling interest | 951 |
| | 7 |
| | 951 |
| | 7 |
|
| Net income (loss) attributable to Pinnacle Entertainment, Inc. | $ | 9,377 |
| | $ | (488,924 | ) | | $ | 9,377 |
| | $ | (488,924 | ) |
| | | | | | | | |
| Per share data: | | | | | | | |
| Income (loss) from continuing operations | $ | 0.17 |
| | $ | (8.04 | ) | | $ | 0.15 |
| | $ | (8.04 | ) |
| Income from discontinued operations, net of income taxes | — |
| | 0.00 |
| | — |
| | 0.00 |
|
| Net income (loss) per common share | $ | 0.17 |
| | $ | (8.04 | ) | | $ | 0.15 |
| | $ | (8.04 | ) |
| | | | | | | | |
| | For the six months ended June 30, |
| | Basic | | Diluted (a) |
| | 2017 | | 2016 | | 2017 | | 2016 |
| Weighted average number of common shares outstanding | 56,314 |
| | 61,077 |
| | 56,314 |
| | 61,077 |
|
| Potential dilution from share-based awards | — |
| | — |
| | 5,149 |
| | — |
|
| Total shares | 56,314 |
| | 61,077 |
| | 61,463 |
| | 61,077 |
|
| | | | | | | | |
| Income (loss) from continuing operations | $ | 25,634 |
| | $ | (448,309 | ) | | $ | 25,634 |
| | $ | (448,309 | ) |
| Income from discontinued operations, net of income taxes | — |
| | 396 |
| | — |
| | 396 |
|
| Net income (loss) | 25,634 |
| | (447,913 | ) | | 25,634 |
| | (447,913 | ) |
| Less: Net loss attributable to non-controlling interest | 960 |
| | 15 |
| | 960 |
| | 15 |
|
| Net income (loss) attributable to Pinnacle Entertainment, Inc. | $ | 26,594 |
| | $ | (447,898 | ) | | $ | 26,594 |
| | $ | (447,898 | ) |
| | | | | | | | |
| Per share data: | | | | | | | |
| Income (loss) from continuing operations | $ | 0.47 |
| | $ | (7.34 | ) | | $ | 0.43 |
| | $ | (7.34 | ) |
| Income from discontinued operations, net of income taxes | — |
| | 0.01 |
| | — |
| | 0.01 |
|
| Net income (loss) per common share | $ | 0.47 |
| | $ | (7.33 | ) | | $ | 0.43 |
|
| $ | (7.33 | ) |
| |
| (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. |
