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INCOME (LOSS) PER SHARE

9 Months Ended

Sep. 30, 2022

Earnings Per Share [Abstract]

INCOME (LOSS) PER SHARE

INCOME (LOSS) PER SHARE

The Company calculates basic net income (loss) per share using, as the denominator, the weighted average number of common shares outstanding during the period. Diluted net income (loss) per share uses, as its denominator, the weighted average number of common shares outstanding during the period plus the effect of potential dilutive shares during the period.

Potential dilutive common shares include stock options, Restricted Share Units (“RSUs”), RSU Replacement Units, and convertible notes for periods in which the Company has reported net income (loss).

The calculations of basic and diluted net income (loss) per share attributable to stockholders of the Company for the three and nine months ended September 30, 2022 and 2021 are based on the following (in thousands):

			Three Months Ended September 30,																		Nine Months Ended September 30,
			2022									2021									2022									2021
Net income (loss)			$			(28,372)						$			64,179						$			115,251						$			269,423
Net (income) loss attributable to non-controlling interest						2,579									(7,119)									(14,995)									(28,782)
Net income (loss) attributable to shareholders of SSR Mining						(25,793)									57,060									100,256									240,641
Interest saving on convertible notes, net of tax						—									1,226									3,677									3,662
Net income (loss) used in the calculation of diluted net income per share			$			(25,793)						$			58,286						$			103,933						$			244,303
Weighted average number of common shares issued						207,983									213,426									210,986									217,392
Adjustments for dilutive instruments:
Stock options						—									46									5									53
Restricted share units						—									40									59									55
Convertible notes						—									12,177									12,493									12,152
Diluted weighted average number of shares outstanding						207,983									225,689									223,543									229,652
Net income (loss) per share attributable to common shareholders
Basic			$			(0.12)						$			0.27						$			0.48						$			1.11
Diluted			$			(0.12)						$			0.26						$			0.46						$			1.06

For the three months ended September 30, 2022, $1.2 million of interest saving on convertible notes, net of tax, and 12,542 shares were excluded from the diluted income per common share calculation because the Company incurred a net loss and the effect would be antidilutive.

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- Definition

The entire disclosure for earnings per share.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109243012&loc=SL65017193-207537

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-URI http://asc.fasb.org/topic&trid=2144383

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=124432515&loc=d3e3630-109257

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