Earnings Per Share and Equity (Tables)

9 Months Ended

Jun. 30, 2019

Calculations of Net Income Per Common Share

Calculations of net income per common share attributable to Mesa Air Group were as follows (in thousands, except per share data):

	Three Months Ended June 30,					Nine Months Ended June 30,
	2019		2018			2019		2018
Net income attributable to Mesa Air Group	$	3,007	$	(11,135	)	$	35,337	$	13,861
Basic weighted average common shares outstanding		34,835		23,336			34,683		23,298
Add: Incremental shares for: (1)
Dilutive effect of warrants		—		—			—		140
Dilutive effect of restricted stock		277		—			368		334
Diluted weighted average common shares outstanding		35,112		23,336			35,051		23,772
Net income per common share attributable to Mesa Air Group:
Basic	$	0.09	$	(0.48	)	$	1.02	$	0.59
Diluted	$	0.09	$	(0.48	)	$	1.01	$	0.58

(1)	Due to a loss for the three months ended June 30, 2018, zero incremental shares are included because the effect would be antidilutive.

Summary of Basic and Diluted Net Income per Common Share Available to Common Shareholders

The restatement adjustment did not impact our previously reported consolidated balance sheet, consolidated statements of stockholders’ equity, consolidated statements of cash flows, or net income (in thousands, except per share data).

	Three Months Ended June 30, 2018						Nine Months Ended June 30, 2018
	As Previously Reported			As Restated			As Previously Reported		As Restated
Net income per common share available to common shareholders - Basic	$	(0.89	)	$	(0.48	)	$	1.18	$	0.59
Shares used in computing net income per common share available to common shareholders - Basic		12,462			23,336			11,782		23,298
Net income per common share available to common shareholders - Diluted	$	(0.89	)	$	(0.48	)	$	0.58	$	0.58
Shares used in computing net income per common share available to common shareholders - Diluted		12,462			23,336			24,052		23,772