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) | ||||||||||||||
| 2013 | 2012 | 2013 | 2012 | ||||||||||||
| Average number of common shares outstanding | 58,777 | 61,560 | 58,777 | 61,560 | |||||||||||
| Average common shares due to assumed conversion of stock options | — | — | — | 467 | |||||||||||
| Total shares | 58,777 | 61,560 | 58,777 | 62,027 | |||||||||||
| Income (loss) from continuing operations | $ | (47,142 | ) | $ | 6,662 | $ | (47,142 | ) | $ | 6,662 | |||||
| Loss from discontinued operations, net of income taxes | (133,275 | ) | (7,020 | ) | (133,275 | ) | (7,020 | ) | |||||||
| Net loss | $ | (180,417 | ) | $ | (358 | ) | $ | (180,417 | ) | $ | (358 | ) | |||
| Per share data: | |||||||||||||||
| Income (loss) from continuing operations | $ | (0.80 | ) | $ | 0.11 | $ | (0.80 | ) | $ | 0.11 | |||||
| Loss from discontinued operations, net of income taxes | (2.27 | ) | (0.11 | ) | (2.27 | ) | (0.11 | ) | |||||||
| Net loss per share | $ | (3.07 | ) | $ | — | $ | (3.07 | ) | $ | — | |||||
| For the nine months ended September 30, | |||||||||||||||
| Basic | Diluted (a) | ||||||||||||||
| 2013 | 2012 | 2013 | 2012 | ||||||||||||
| Average number of common shares outstanding | 58,548 | 62,095 | 58,548 | 62,095 | |||||||||||
| Average common shares due to assumed conversion of stock options | — | — | — | 403 | |||||||||||
| Total shares | 58,548 | 62,095 | 58,548 | 62,498 | |||||||||||
| Income (loss) from continuing operations | $ | (142,028 | ) | $ | 17,838 | $ | (142,028 | ) | $ | 17,838 | |||||
| Loss from discontinued operations, net of income taxes | (128,887 | ) | (7,247 | ) | (128,887 | ) | (7,247 | ) | |||||||
| Net income (loss) | $ | (270,915 | ) | $ | 10,591 | $ | (270,915 | ) | $ | 10,591 | |||||
| Per share data: | |||||||||||||||
| Income (loss) from continuing operations | $ | (2.43 | ) | $ | 0.29 | $ | (2.43 | ) | $ | 0.29 | |||||
| Loss from discontinued operations, net of income taxes | (2.20 | ) | (0.12 | ) | (2.20 | ) | (0.12 | ) | |||||||
| Net income (loss) per share | $ | (4.63 | ) | $ | 0.17 | $ | (4.63 | ) | $ | 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.