Pinnacle Entertainment (PNKZV) 10-Q 2015 Q2 Quarterly report

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)
	2015			2014			2015			2014
Average number of common shares outstanding	60,976			59,593			60,976			59,593
Average common shares due to assumed conversion of stock options	—			—			2,379			—
Total shares	60,976			59,593			63,355			59,593
Income (loss) from continuing operations	$	15,793		$	(2,317	)	$	15,793		$	(2,317	)
Income from discontinued operations, net of income taxes	4,699			26			4,699			26
Net income (loss)	20,492			(2,291		)	20,492			(2,291		)
Net loss attributable to non-controlling interest	(1,252		)	(32		)	(1,252		)	(32		)
Net income (loss) attributable to Pinnacle Entertainment, Inc.	$	21,744		$	(2,259	)	$	21,744		$	(2,259	)
Per share data:
Income (loss) from continuing operations	$	0.28		$	(0.04	)	$	0.27		$	(0.04	)
Income from discontinued operations, net of income taxes	0.08			—			0.07			—
Net income (loss) per share	$	0.36		$	(0.04	)	$	0.34		$	(0.04	)
	For the six months ended June 30,
	Basic						Diluted (a)
	2015			2014			2015			2014
Average number of common shares outstanding	60,808			59,429			60,808			59,429
Average common shares due to assumed conversion of stock options	—			—			2,165			1,899
Total shares	60,808			59,429			62,973			61,328
Income from continuing operations	$	42,872		$	16,427		$	42,872		$	16,427
Income from discontinued operations, net of income taxes	4,916			325			4,916			325
Net income	47,788			16,752			47,788			16,752
Net loss attributable to non-controlling interest	(1,262		)	(36		)	(1,262		)	(36		)
Net income attributable to Pinnacle Entertainment, Inc.	$	49,050		$	16,788		$	49,050		$	16,788
Per share data:
Income from continuing operations	$	0.73		$	0.28		$	0.70		$	0.27
Income from discontinued operations, net of income taxes	0.08			—			0.08			—
Net income per share	$	0.81		$	0.28		$	0.78		$	0.27

(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.