Annual report pursuant to Section 13 and 15(d)

Earnings Per Share

v3.19.3.a.u2
Earnings Per Share
 12 Months Ended
Dec. 31, 2019
Earnings Per Share [Abstract]  
EARNINGS PER SHARE
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 years ended December 31, 2019 and 2017 excludes the impact to income and the number of shares outstanding from the conversion of the 7.00% Convertible Senior Notes and the 5.875% Convertible Senior Notes, as applicable, because such impact is antidilutive.
Under the if converted method, and after consideration of the common shares issued in the Convertible Notes exchanges and conversions discussed in Note 11 ("Debt"), the 7.00% Convertible Senior Notes and 5.875% Convertible Senior Notes would result in an additional 2,463,394 common shares outstanding for the year ended December 31, 2019. For the year ended December 31, 2018, the dilutive shares include 3,453,273 common shares outstanding from the if-converted method for the 7.00% Convertible Notes. For the year ended December 31, 2017, the if-converted method would have resulted in an additional 3,454,545 common shares outstanding.
Earnings Per Share
 
For the Years Ended December 31,
 
2019
 
2018
 
2017
Net Income attributable to CorEnergy Stockholders
$
4,079,495

 
$
43,711,876

 
$
32,602,790

Less: preferred dividend requirements(1) (2)
9,255,468

 
9,548,377

 
7,953,988

Net Income (Loss) attributable to Common Stockholders
$
(5,175,973
)
 
$
34,163,499

 
$
24,648,802

Weighted average shares - basic
13,041,613

 
11,935,021

 
11,900,516

Basic earnings (loss) per share
$
(0.40
)
 
$
2.86

 
$
2.07

 
 
 
 
 
 
Net Income (Loss) attributable to Common Stockholders (from above)
$
(5,175,973
)
 
$
34,163,499

 
$
24,648,802

Add: After tax effect of convertible interest
—

 
8,766,306

 
—

Income (Loss) attributable for dilutive securities
$
(5,175,973
)
 
$
42,929,805

 
$
24,648,802

Weighted average shares - diluted
13,041,613

 
15,389,180

 
11,900,516

Diluted earnings (loss) per share
$
(0.40
)
 
$
2.79

 
$
2.07

(1) In connection with the repurchases of Series A Preferred Stock during the year ended December 31, 2018, preferred dividend requirements were reduced by $10,554 representing the discount in the repurchase price paid compared to the carrying amount derecognized.
(2) In connection with the repurchases of Series A Preferred Stock during the year ended December 31, 2019, preferred dividend requirements were increased by $245 representing the premium in the repurchase price paid compared to the carrying amount derecognized.