Summary of Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2022

Summary of Significant Accounting Policies

Reconciliation of earnings (loss) attributable to common stockholders for basic and diluted earnings (loss) per share

The following is a reconciliation of the Company’s earnings (loss) attributable to common stockholders for basic and diluted earnings (loss) per share (in thousands):

	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2022		2021		2022
Net income (loss) attributable to Antero Resources Corporation—common shareholders	$	(523,467)		765,135		(538,966)		608,716
Add: Interest expense for 2026 Convertible Notes		—		967		—		1,934
Less: Tax-effect of interest expense for 2026 Convertible Notes		—		(224)		—		(449)
Net income (loss) attributable to Antero Resources Corporation—common shareholders and assumed conversions	$	(523,467)		765,878		(538,966)		610,201
Income (loss) per share—basic	$	(1.70)		2.46		(1.78)		1.95
Income (loss) per share—diluted	$	(1.70)		2.29		(1.78)		1.81
Weighted average common shares outstanding—basic		307,879		310,535		302,343		312,300
Weighted average common shares outstanding—diluted		307,879		334,561		302,343		337,589

Reconciliation of basic weighted average shares outstanding to diluted weighted average shares outstanding

The following is a reconciliation of the Company’s basic weighted average shares outstanding to diluted weighted average shares outstanding during the periods presented (in thousands):

	Three Months Ended June 30,		Six Months Ended June 30,
	2021	2022	2021	2022
Basic weighted average number of shares outstanding	307,879	310,535	302,343	312,300
Add: Dilutive effect of RSUs	—	3,161	—	3,629
Add: Dilutive effect of PSUs	—	2,108	—	2,892
Add: Dilutive effect of stock options	—	—	—	—
Add: Dilutive effect of 2026 Convertible Notes	—	18,757	—	18,768
Diluted weighted average number of shares outstanding	307,879	334,561	302,343	337,589
Weighted average number of outstanding securities excluded from calculation of diluted earnings per common share (1):
RSUs	6,642	—	6,767	—
PSUs	2,769	—	2,584	—
Stock options	380	351	404	351
2026 Convertible Notes	18,778	—	18,778	—

(1) The potential dilutive effects of these awards were excluded from the computation of diluted earnings (loss) per common share because the inclusion of these awards would have been anti-dilutive.