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) |
| | 2017 | | 2016 | | 2017 | | 2016 |
| Weighted average number of common shares outstanding | 56,799 |
| | 57,004 |
| | 56,799 |
| | 57,004 |
|
| Potential dilution from share-based awards | — |
| | — |
| | 5,081 |
| | — |
|
| Total shares | 56,799 |
| | 57,004 |
| | 61,880 |
| | 57,004 |
|
| | | | | | | | |
| Income (loss) from continuing operations | $ | 13,940 |
| | $ | (532 | ) | | $ | 13,940 |
| | $ | (532 | ) |
| Income from discontinued operations, net of income taxes | — |
| | 37 |
| | — |
| | 37 |
|
| Net income (loss) | 13,940 |
| | (495 | ) | | 13,940 |
| | (495 | ) |
| Less: Net loss attributable to non-controlling interest | 193 |
| | 9 |
| | 193 |
| | 9 |
|
| Net income (loss) attributable to Pinnacle Entertainment, Inc. | $ | 14,133 |
| | $ | (486 | ) | | $ | 14,133 |
| | $ | (486 | ) |
| | | | | | | | |
| Per share data: | | | | | | | |
| Income (loss) from continuing operations | $ | 0.25 |
| | $ | (0.01 | ) | | $ | 0.23 |
| | $ | (0.01 | ) |
| Income from discontinued operations, net of income taxes | — |
| | 0.00 |
| | — |
| | 0.00 |
|
| Net income (loss) per common share | $ | 0.25 |
| | $ | (0.01 | ) | | $ | 0.23 |
| | $ | (0.01 | ) |
| | | | | | | | |
| | For the nine months ended September 30, |
| | Basic | | Diluted (a) |
| | 2017 | | 2016 | | 2017 | | 2016 |
| Weighted average number of common shares outstanding | 56,478 |
| | 59,722 |
| | 56,478 |
| | 59,722 |
|
| Potential dilution from share-based awards | — |
| | — |
| | 5,260 |
| | — |
|
| Total shares | 56,478 |
| | 59,722 |
| | 61,738 |
| | 59,722 |
|
| | | | | | | | |
| Income (loss) from continuing operations | $ | 39,574 |
| | $ | (448,841 | ) | | $ | 39,574 |
| | $ | (448,841 | ) |
| Income from discontinued operations, net of income taxes | — |
| | 433 |
| | — |
| | 433 |
|
| Net income (loss) | 39,574 |
| | (448,408 | ) | | 39,574 |
| | (448,408 | ) |
| Less: Net loss attributable to non-controlling interest | 1,153 |
| | 24 |
| | 1,153 |
| | 24 |
|
| Net income (loss) attributable to Pinnacle Entertainment, Inc. | $ | 40,727 |
| | $ | (448,384 | ) | | $ | 40,727 |
| | $ | (448,384 | ) |
| | | | | | | | |
| Per share data: | | | | | | | |
| Income (loss) from continuing operations | $ | 0.72 |
| | $ | (7.52 | ) | | $ | 0.66 |
| | $ | (7.52 | ) |
| Income from discontinued operations, net of income taxes | — |
| | 0.01 |
| | — |
| | 0.01 |
|
| Net income (loss) per common share | $ | 0.72 |
| | $ | (7.51 | ) | | $ | 0.66 |
|
| $ | (7.51 | ) |
| |
| (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. |
