Annual report pursuant to Section 13 and 15(d)

Earnings (Loss) Per Share

v3.20.4
Earnings (Loss) Per Share
 12 Months Ended
Dec. 31, 2020
Earnings Per Share [Abstract]  
EARNINGS (LOSS) PER SHARE EARNINGS (LOSS) PER SHARE
Basic earnings (loss) per share data is computed based on the weighted-average number of shares of common stock outstanding during the periods. Diluted earnings (loss) per share data is computed based on the weighted-average number of shares of common stock outstanding, including all potentially issuable shares of common stock. Diluted earnings (loss) per share for the years ended December 31, 2020 and 2019 excludes the impact to income and the number of shares outstanding from the conversion of the 7.00% Convertible Notes and the 5.875% Convertible Notes, as applicable, because such impact is antidilutive. The remaining 7.00% Convertible Notes matured on June 15, 2020.
Under the if converted method, the 5.875% Convertible Notes would result in an additional 2,361,000 common shares outstanding for the year ended December 31, 2020. For the year ended December 31, 2019, the 7.00% Convertible Senior Notes and 5.875% Convertible Senior Notes would result in an additional 2,463,394 common shares outstanding from the if-converted method. 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.
Earnings (Loss) Per Share
For the Years Ended December 31,
2020 2019 2018
Net Income (Loss) attributable to CorEnergy Stockholders $ (306,067,579) $ 4,079,495  $ 43,711,876 
Less: preferred dividend requirements(1) (2)
9,189,809  9,255,468  9,548,377 
Net Income (Loss) attributable to Common Stockholders $ (315,257,388) $ (5,175,973) $ 34,163,499 
Weighted average shares - basic 13,650,718  13,041,613  11,935,021 
Basic earnings (loss) per share $ (23.09) $ (0.40) $ 2.86 
Net Income (Loss) attributable to Common Stockholders (from above) $ (315,257,388) $ (5,175,973) $ 34,163,499 
Add: After tax effect of convertible interest —  —  8,766,306 
Income (Loss) attributable for dilutive securities $ (315,257,388) $ (5,175,973) $ 42,929,805 
Weighted average shares - diluted 13,650,718  13,041,613  15,389,180 
Diluted earnings (loss) per share $ (23.09) $ (0.40) $ 2.79 
(1) In connection with the repurchases of Series A Preferred Stock during the year ended December 31, 2020 and 2018, preferred dividend requirements were reduced by $52,896 and $10,554, respectively, 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.