Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share (Tables)

v3.19.2
Earnings Per Share (Tables)
 6 Months Ended
Jun. 30, 2019
Earnings Per Share [Abstract]  
Computation of basic and diluted earnings per share
Basic earnings per share data is computed based on the weighted-average number of shares of common stock outstanding during the periods. Diluted EPS data is computed based on the weighted-average number of shares of common stock outstanding, including all potentially issuable shares of common stock. Diluted EPS for the three and six months ended June 30, 2019 and 2018 excludes the impact to income and the number of shares outstanding from the conversion of the 7.00% Convertible Senior Notes because such impact is antidilutive. Under the if converted method, and after consideration of the common shares issued in the Convertible Note exchange and subsequent conversions discussed in Note 10 ("Debt"), the 7.00% Convertible Senior Notes would result in an additional 2,108,848 common shares outstanding for the three and six months ended June 30, 2019. For the three and six months ended June 30, 2018, the if-converted method would have resulted in an additional 3,454,545 common shares outstanding.
 
For the Three Months Ended
 
For the Six Months Ended
 
June 30, 2019
 
June 30, 2018
 
June 30, 2019
 
June 30, 2018
Net income attributable to CorEnergy stockholders
$
9,824,926

 
$
7,810,849

 
$
13,691,367

 
$
15,518,557

Less: preferred dividend requirements
2,313,780

 
2,396,875

 
4,627,908

 
4,793,750

Net income attributable to common stockholders
$
7,511,146

 
$
5,413,974

 
$
9,063,459

 
$
10,724,807

Weighted average shares - basic
12,811,171

 
11,928,297

 
12,708,626

 
11,923,627

Basic earnings per share
$
0.59

 
$
0.45

 
$
0.71

 
$
0.90

 
 
 
 
 
 
 
 
Net income attributable to common stockholders (from above)
$
7,511,146

 
$
5,413,974

 
$
9,063,459

 
$
10,724,807

Add: After tax effect of convertible interest
—

 
—

 
—

 
—

Income attributable for dilutive securities
$
7,511,146

 
$
5,413,974

 
$
9,063,459

 
$
10,724,807

Weighted average shares - diluted
12,811,171

 
11,928,297

 
12,708,626

 
11,923,627

Diluted earnings per share
$
0.59

 
$
0.45

 
$
0.71

 
$
0.90