Earnings (Loss) Per Share

9 Months Ended

Sep. 30, 2019

Earnings Per Share [Abstract]

Earnings Per Share

EARNINGS (LOSS) PER SHARE

Information related to the calculation of earnings (loss) per share attributable to Unit Corporation is as follows:

	Earnings (Loss) (Numerator)		Weighted Shares (Denominator)	Per-Share Amount
	(In thousands except per share amounts)
For the three months ended September 30, 2019
Basic loss attributable to Unit Corporation per common share	$	(206,886)	52,950	$	(3.91)
Effect of dilutive stock options and restricted stock	—		—	—
Diluted loss attributable to Unit Corporation per common share	$	(206,886)	52,950	$	(3.91)
For the three months ended September 30, 2018
Basic earnings attributable to Unit Corporation per common share	$	18,899	52,068	$	0.36
Effect of dilutive stock options and restricted stock	—		1,072	—
Diluted earnings attributable to Unit Corporation per common share	$	18,899	53,140	$	0.36

Because of the net loss for the three months ended September 30, 2019, approximately 20,000 weighted average shares of stock options and restricted stock were antidilutive and were excluded from the earnings per share calculation above.

The following table shows the number of stock options (and their average exercise price) excluded because their option exercise prices were greater than the average market price of our common stock:

	Three Months Ended
	September 30,
	2019		2018
Stock options	42,000		66,500
Average exercise price	$	48.56	$	44.42

	Earnings (Loss) (Numerator)		Weighted Shares (Denominator)	Per-Share Amount
	(In thousands except per share amounts)
For the nine months ended September 30, 2019
Basic loss attributable to Unit Corporation per common share	$	(218,899)	52,814	$	(4.14)
Effect of dilutive stock options and restricted stock	—		—	—
Diluted loss attributable to Unit Corporation per common share	$	(218,899)	52,814	$	(4.14)
For the nine months ended September 30, 2018
Basic earnings attributable to Unit Corporation per common share	$	32,552	51,951	$	0.63
Effect of dilutive stock options and restricted stock	—		808	(0.01)
Diluted earnings attributable to Unit Corporation per common share	$	32,552	52,759	$	0.62

Because of the net loss for the nine months ended September 30, 2019, approximately 185,000 weighted average shares of stock options and restricted stock were antidilutive and were excluded from the earnings per share calculation above.

The following table shows the number of stock options (and their average exercise price) excluded because their option exercise prices were greater than the average market price of our common stock:

	Nine Months Ended
	September 30,
	2019		2018
Stock options	42,000		66,500
Average exercise price	$	48.56	$	44.42