Common Stock and Earnings Per Share

12 Months Ended

Dec. 31, 2011

Common Stock and Earnings Per Share

Common Stock and Earnings Per Share

14.Common Stock and Earnings Per Share

At December 31, 2011, shares of EQT’s authorized and unissued common stock were reserved as follows:

	(Thousands)
Possible future acquisitions	20,457
Stock compensation plans	6,233
Total	26,690

Earnings Per Share

The computation of basic and diluted earnings per common share is shown in the table below:

	Years Ended December 31,
	2011		2010		2009
	(Thousands except per share amounts)
Basic earnings per common share:
Net income	$	479,769	$	227,700	$	156,929
Average common shares outstanding	149,392		144,458		130,820
Basic earnings per common share	$	3.21	$	1.58	$	1.20
Diluted earnings per common share:
Net income	$479,769		$	227,700	$	156,929
Average common shares outstanding	149,392		144,458		130,820
Potentially dilutive securities:
Stock options and awards (a)	817		774		662
Total	150,209		145,232		131,482
Diluted earnings per common share	$	3.19	$	1.57	$	1.19

(a)Options to purchase 6,480, 1,229,109 and 955,107 shares of common stock were not included in the computation of diluted earnings per common share for 2011, 2010 and 2009, respectively, because the options’ exercise prices were greater than the average market prices of the common shares in the applicable year.