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Earnings Per Share
6 Months Ended
Jun. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Earnings Per Share EARNINGS PER SHARE:
Basic earnings per share is computed by dividing net income attributable to CNX shareholders by the weighted average shares outstanding during the reporting period. Diluted earnings per share is computed similarly to basic earnings per share, except that the weighted average shares outstanding are increased to include, if dilutive, additional shares from stock options, performance stock options, restricted stock units, performance share units, and shares issuable upon conversion of the Convertible Notes. The number of additional shares is calculated by assuming that outstanding stock options and performance share options were exercised, that outstanding restricted stock units and performance share units were released, and that the proceeds from such activities were used to acquire shares of common stock at the average market price during the reporting period. CNX Midstream Partners LP's ("CNXM") dilutive units did not have a material impact on the Company's earnings per share calculations for the three or six months ended June 30, 2020 or June 30, 2019.

The table below sets forth the share-based awards that have been excluded from the computation of diluted earnings per share because their effect would be antidilutive:
 For the Three Months Ended June 30,For the Six Months Ended June 30,
 2020201920202019
Anti-Dilutive Options4,256,409  2,041,273  4,256,409  2,041,273  
Anti-Dilutive Restricted Stock Units2,009,678  150,007  2,009,678  220,858  
Anti-Dilutive Performance Share Units651,131  —  651,131  —  
Anti-Dilutive Performance Stock Options—  927,268  —  927,268  
6,917,218  3,118,548  6,917,218  3,189,399  

Additionally, the 32,242,975 shares underlying CNX's Convertible Notes (See Note 10 - Long-Term Debt) are not considered in the calculation of diluted net loss per share for the three and six months ended June 30, 2020 as these Notes were not convertible as of June 30, 2020. The Company will settle conversions by paying or delivering, as applicable, cash, shares of its common stock or a combination of cash and shares of its common stock, at the Company’s election, and therefore will use the treasury stock method for calculating any potential dilutive effect of the conversion spread on diluted net income per share, if applicable.

The table below sets forth the share-based awards that have been exercised or released:
 For the Three Months Ended June 30,For the Six Months Ended June 30,
 2020201920202019
Options239,839  7,093  239,839  20,841  
Restricted Stock Units163,157  515,265  504,040  973,234  
Performance Share Units—  —  274,716  342,882  
402,996  522,358  1,018,595  1,336,957  
Pursuant to the terms of the change in control severance agreements of certain employees and CNX officers, outstanding equity awards held by such employees vest upon a stockholder (or stockholder group) becoming the beneficial owner of more than 25% of the Company's outstanding common stock. During the three months ended June 30, 2019, Southeastern Asset Management, Inc. and its affiliates ("SEAM") acquired shares of CNX's common stock in the open market which resulted in SEAM's aggregate share ownership exceeding more the 25% of CNX's common stock outstanding. This transaction, as such, constituted a change in control event under the severance agreements, resulting in the accelerated vesting of 473,126 restricted stock units and 903,100 performance share units held by the aforementioned employees that were issued prior to 2019. Those affected employees and officers each consented to waive the change in control vesting provision included in the change in control severance agreements with respect to their restricted stock unit and performance share unit awards that were issued during 2019. The accelerated vesting resulted in $19,654 of additional long-term equity-based compensation expense for the three and six months ended June 30, 2019, and is included in Selling, General and Administrative Costs in the Consolidated Statements of Income. The performance share unit awards that vested continue to be subject to the attainment of performance goals as determined by the Compensation Committee of CNX's Board of Directors after the end of the applicable performance period.

The computations for basic and diluted (loss) earnings per share are as follows:
For the Three Months Ended June 30,For the Six Months Ended June 30,
 2020201920202019
Net (Loss) Income$(130,486) $192,694  $(435,709) $128,044  
      Less: Net Income Attributable to Non-Controlling Interest
15,263  30,217  39,126  52,904  
Net (Loss) Income Attributable to CNX Resources Shareholders
$(145,749) $162,477  $(474,835) $75,140  
Weighted-Average Shares of Common Stock Outstanding
187,316,463  191,524,289  187,117,412  194,483,555  
Effect of Diluted Shares*
—  1,256,443  —  1,507,800  
Weighted-Average Diluted Shares of Common Stock Outstanding
187,316,463  192,780,732  187,117,412  195,991,355  
(Loss) Earnings per Share:
Basic$(0.78) $0.85  $(2.54) $0.39  
Diluted$(0.78) $0.84  $(2.54) $0.38  
*During periods in which the Company incurs a net loss, diluted weighted average shares outstanding are equal to basic weighted average shares outstanding because the effect of all equity awards is antidilutive.