(Loss) Income Per Share

6 Months Ended

Jun. 30, 2023

The following table shows the computation for basic and diluted (loss) income per share.


	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022

	(Thousands, except per share amounts)
Net (loss) income attributable to EQT Corporation – Basic (loss) income available to shareholders	$	(66,626)	$	891,361	$	1,151,922	$	(624,687)
Add back: Interest expense on Convertible Notes, net of tax (a)	—		2,279		3,691		—
Diluted (loss) income available to shareholders	$	(66,626)	$	893,640	$	1,155,613	$	(624,687)

Weighted average common stock outstanding – Basic	361,982		369,866		361,721		372,023
Options, restricted stock, performance awards and stock appreciation rights (a)	—		4,132		3,455		—
Convertible Notes (a)	—		33,305		28,259		—
Weighted average common stock outstanding – Diluted	361,982		407,303		393,435		372,023

(Loss) income per share of common stock attributable to EQT Corporation:
Basic	$	(0.18)	$	2.41	$	3.18	$	(1.68)
Diluted	$	(0.18)	$	2.19	$	2.94	$	(1.68)

(a)In periods when the Company reports a net loss, all options, restricted stock, performance awards and stock appreciation rights are excluded from the calculation of diluted weighted average shares outstanding because of their anti-dilutive effect on loss per share. As a result, for the three months ended June 30, 2023 and six months ended June 30, 2022, all such securities of 4.7 million and 6.9 million, respectively, were excluded from potentially dilutive securities because of their anti-dilutive effect on loss per share.

In addition, the Company uses the if-converted method to calculate the impact of the Convertible Notes on diluted (loss) income per share. For the three months ended June 30, 2023 and six months ended June 30, 2022, such if-converted securities of approximately 28.3 million and 33.4 million, respectively, as well as the respective related add back of interest expense on the Convertible Notes, net of tax, were excluded from potentially dilutive securities because of their anti-dilutive effect on loss per share.