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) | ||||||||||||||
| 2014 | 2013 | 2014 | 2013 | ||||||||||||
| Average number of common shares outstanding | 59,593 | 58,523 | 59,593 | 58,523 | |||||||||||
| Average common shares due to assumed conversion of stock options | — | — | — | — | |||||||||||
| Total shares | 59,593 | 58,523 | 59,593 | 58,523 | |||||||||||
| Loss from continuing operations | $ | (2,317 | ) | $ | (7,100 | ) | $ | (2,317 | ) | $ | (7,100 | ) | |||
| Income from discontinued operations, net of income taxes | 26 | 1,993 | 26 | 1,993 | |||||||||||
| Net loss | $ | (2,291 | ) | $ | (5,107 | ) | $ | (2,291 | ) | $ | (5,107 | ) | |||
| Per share data: | |||||||||||||||
| Loss from continuing operations | $ | (0.04 | ) | $ | (0.12 | ) | $ | (0.04 | ) | $ | (0.12 | ) | |||
| Income from discontinued operations, net of income taxes | — | 0.03 | — | 0.03 | |||||||||||
| Net loss per share | $ | (0.04 | ) | $ | (0.09 | ) | $ | (0.04 | ) | $ | (0.09 | ) | |||
| For the six months ended June 30, | |||||||||||||||
| Basic | Diluted (a) | ||||||||||||||
| 2014 | 2013 | 2014 | 2013 | ||||||||||||
| Average number of common shares outstanding | 59,429 | 58,431 | 59,429 | 58,431 | |||||||||||
| Average common shares due to assumed conversion of stock options | — | — | 1,899 | — | |||||||||||
| Total shares | 59,429 | 58,431 | 61,328 | 58,431 | |||||||||||
| Income (loss) from continuing operations | $ | 16,427 | $ | (94,886 | ) | $ | 16,427 | $ | (94,886 | ) | |||||
| Income from discontinued operations, net of income taxes | 325 | 4,388 | 325 | 4,388 | |||||||||||
| Net income (loss) | $ | 16,752 | $ | (90,498 | ) | $ | 16,752 | $ | (90,498 | ) | |||||
| Per share data: | |||||||||||||||
| Income (loss) from continuing operations | $ | 0.28 | $ | (1.62 | ) | $ | 0.27 | $ | (1.62 | ) | |||||
| Income from discontinued operations, net of income taxes | — | 0.07 | — | 0.07 | |||||||||||
| Net income (loss) per share | $ | 0.28 | $ | (1.55 | ) | $ | 0.27 | $ | (1.55 | ) | |||||
(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.