EX-11 2 exhibit11063015.htm EXHIBIT 11 Exhibit 11 06.30.15


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.