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) | ||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||
Average number of common shares outstanding | 59,817 | 58,777 | 59,817 | 58,777 | |||||||||||
Average common shares due to assumed conversion of stock options | — | — | 1,983 | — | |||||||||||
Total shares | 59,817 | 58,777 | 61,800 | 58,777 | |||||||||||
Income (loss) from continuing operations | $ | 7,719 | $ | (47,142 | ) | $ | 7,719 | $ | (47,172 | ) | |||||
Income (loss) from discontinued operations, net of income taxes | 4,771 | (133,275 | ) | 4,771 | (133,275 | ) | |||||||||
Net income (loss) | $ | 12,490 | $ | (180,417 | ) | $ | 12,490 | $ | (180,447 | ) | |||||
Per share data: | |||||||||||||||
Income (loss) from continuing operations | $ | 0.13 | $ | (0.80 | ) | $ | 0.13 | $ | (0.80 | ) | |||||
Income (loss) from discontinued operations, net of income taxes | 0.08 | (2.27 | ) | 0.08 | (2.27 | ) | |||||||||
Net income (loss) per share | $ | 0.21 | $ | (3.07 | ) | $ | 0.21 | $ | (3.07 | ) | |||||
For the nine months ended September 30, | |||||||||||||||
Basic | Diluted (a) | ||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||
Average number of common shares outstanding | 59,560 | 58,548 | 59,560 | 58,548 | |||||||||||
Average common shares due to assumed conversion of stock options | — | — | 1,933 | — | |||||||||||
Total shares | 59,560 | 58,548 | 61,493 | 58,548 | |||||||||||
Income (loss) from continuing operations | $ | 24,147 | $ | (142,028 | ) | $ | 24,147 | $ | (142,028 | ) | |||||
Income (loss) from discontinued operations, net of income taxes | 5,096 | (128,887 | ) | 5,096 | (128,887 | ) | |||||||||
Net income (loss) | $ | 29,243 | $ | (270,915 | ) | $ | 29,243 | $ | (270,915 | ) | |||||
Per share data: | |||||||||||||||
Income (loss) from continuing operations | $ | 0.41 | $ | (2.43 | ) | $ | 0.39 | $ | (2.43 | ) | |||||
Income (loss) from discontinued operations, net of income taxes | 0.09 | (2.20 | ) | 0.08 | (2.20 | ) | |||||||||
Net income (loss) per share | $ | 0.50 | $ | (4.63 | ) | $ | 0.47 | $ | (4.63 | ) |
(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.