XML 27 R12.htm IDEA: XBRL DOCUMENT v3.8.0.1
Earnings Per Share
3 Months Ended
Mar. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Earnings Per Share
EARNINGS PER SHARE:

Basic earnings per share are computed by dividing net income attributable to CNX shareholders by the weighted average shares outstanding during the reporting period. Dilutive earnings per share are computed similarly to basic earnings per share, except that the weighted average shares outstanding are increased to include additional shares from stock options, performance stock options, restricted stock units and performance share units, if dilutive. The number of additional shares is calculated by assuming that outstanding stock options and performance share options were exercised, that outstanding restricted stock units and performance share units were released, and that the proceeds from such activities were used to acquire shares of common stock at the average market price during the reporting period. The impact of CNXM's dilutive units did not have a material impact on the Company's earnings per share calculations for the period from January 3, 2018 through March 31, 2018.

The table below sets forth the share-based awards that have been excluded from the computation of diluted earnings per share because their effect would be antidilutive:
 
For the Three Months Ended March 31,
 
2018
 
2017
Antidilutive Options
2,293,506

 
5,472,165

Antidilutive Restricted Stock Units
11,480

 
951,320

Antidilutive Performance Share Units
312,296

 
1,762,690

Antidilutive Performance Stock Options
927,268

 
802,804

 
3,544,550

 
8,988,979






The table below sets forth the share-based awards that have been exercised or released:
 
For the Three Months Ended March 31,
 
2018
 
2017
Options
153,718

 
61,624

Restricted Stock Units
171,137

 
334,040

Performance Share Units
357,596

 
560,936

 
682,451

 
956,600


The computations for basic and dilutive earnings per share are as follows:
 
For the Three Months Ended March 31,
 
2018
 
2017
Income (Loss) from Continuing Operations
$
545,546

 
$
(91,007
)
      Less: Net Income Attributable to Non-Controlling Interest
17,983

 

Net Income (Loss) from Continuing Operations Attributable to CNX Resources Shareholders
$
527,563

 
$
(91,007
)
Income from Discontinued Operations

 
52,041

Net Income (Loss) Attributable to CNX Resources Shareholders
$
527,563

 
$
(38,966
)
 
 
 
 
Weighted-average shares of common stock outstanding
221,930,165

 
229,817,169

Effect of dilutive shares
2,252,371

 

Weighted-average diluted shares of common stock outstanding
224,182,536

 
229,817,169

 
 
 
 
Earnings (Loss) per Share:
 
 
 
Basic (Continuing Operations)
$
2.38

 
$
(0.40
)
Basic (Discontinued Operations)

 
0.23

Total Basic
$
2.38

 
$
(0.17
)
 
 
 
 
Dilutive (Continuing Operations)
$
2.35

 
$
(0.40
)
Dilutive (Discontinued Operations)

 
0.23

Total Dilutive
$
2.35

 
$
(0.17
)