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) | ||||||||||||||
| 2013 | 2012 | 2013 | 2012 | ||||||||||||
| Average number of common shares outstanding | 58,523 | 62,536 | 58,523 | 62,536 | |||||||||||
| Average common shares due to assumed conversion of stock options | — | — | — | 365 | |||||||||||
| Total shares | 58,523 | 62,536 | 58,523 | 62,901 | |||||||||||
| Income (loss) from continuing operations | $ | (5,195 | ) | $ | 12,943 | $ | (5,195 | ) | $ | 12,943 | |||||
| Income (loss) from discontinued operations, net of income taxes | 88 | (985 | ) | 88 | (985 | ) | |||||||||
| Net income (loss) | $ | (5,107 | ) | $ | 11,958 | $ | (5,107 | ) | $ | 11,958 | |||||
| Per share data: | |||||||||||||||
| Income (loss) from continuing operations | $ | (0.09 | ) | $ | 0.21 | $ | (0.09 | ) | $ | 0.21 | |||||
| Income (loss) from discontinued operations, net of income taxes | — | (0.02 | ) | — | (0.02 | ) | |||||||||
| Net income (loss) per share | $ | (0.09 | ) | $ | 0.19 | $ | (0.09 | ) | $ | 0.19 | |||||
| For the six months ended June 30, | |||||||||||||||
| Basic | Diluted (a) | ||||||||||||||
| 2013 | 2012 | 2013 | 2012 | ||||||||||||
| Average number of common shares outstanding | 58,431 | 62,365 | 58,431 | 62,365 | |||||||||||
| Average common shares due to assumed conversion of stock options | — | — | — | 374 | |||||||||||
| Total shares | 58,431 | 62,365 | 58,431 | 62,739 | |||||||||||
| Income (loss) from continuing operations | $ | (90,541 | ) | $ | 12,617 | $ | (90,541 | ) | $ | 12,617 | |||||
| Income (loss) from discontinued operations, net of income taxes | 43 | (1,668 | ) | 43 | (1,668 | ) | |||||||||
| Net income (loss) | $ | (90,498 | ) | $ | 10,949 | $ | (90,498 | ) | $ | 10,949 | |||||
| Per share data: | |||||||||||||||
| Income (loss) from continuing operations | $ | (1.55 | ) | $ | 0.20 | $ | (1.55 | ) | $ | 0.20 | |||||
| Income (loss) from discontinued operations, net of income taxes | — | (0.03 | ) | — | (0.03 | ) | |||||||||
| Net income (loss) per share | $ | (1.55 | ) | $ | 0.17 | $ | (1.55 | ) | $ | 0.17 | |||||
(a) When the computed diluted values are antidilutive, the basic per share values are presented on the face of the unaudited Condensed Consolidated Statements of Operations.