Summary of Significant Accounting Policies (Tables)

9 Months Ended

Sep. 30, 2023

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 income (loss) attributable to common stockholders for basic and diluted income (loss) per share (in thousands):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2023		2022		2023
Net income attributable to Antero Resources Corporation—common shareholders	$	559,759		17,808		1,168,475		148,155
Add: Interest expense for 2026 Convertible Notes		830		470		2,764		1,555
Less: Tax-effect of interest expense for 2026 Convertible Notes		(193)		(101)		(642)		(334)
Net income attributable to Antero Resources Corporation—common shareholders and assumed conversions	$	560,396		18,177		1,170,597		149,376
Income per share—basic	$	1.83		0.06		3.77		0.50
Income per share—diluted	$	1.72		0.06		3.51		0.48
Weighted average common shares outstanding—basic		305,343		300,141		309,954		298,461
Weighted average common shares outstanding—diluted		325,997		311,534		333,738		310,958

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 September 30,		Nine Months Ended September 30,
	2022	2023	2022	2023
Basic weighted average number of shares outstanding	305,343	300,141	309,954	298,461
Add: Dilutive effect of RSUs	3,041	1,213	3,444	1,419
Add: Dilutive effect of PSUs	1,486	1,105	2,462	1,080
Add: Dilutive effect of 2026 Convertible Notes	16,127	9,075	17,878	9,998
Diluted weighted average number of shares outstanding	325,997	311,534	333,738	310,958
Weighted average number of outstanding securities excluded from calculation of diluted income (loss) per common share (1):
RSUs	—	1,128	—	1,267
PSUs	—	100	—	199
Stock options	349	323	350	324

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