NET LOSS PER SHARE ATTRIBUTABLE TO COMMON STOCKHOLDERS
Basic net loss per share attributable to common stockholders (“EPS”) excludes dilution and is computed by dividing net loss attributable to common stockholders by the weighted average number of common shares outstanding during the period. Diluted EPS reflects potential dilution and is computed by dividing net loss attributable to common stockholders by the weighted average number of common shares outstanding during the period increased by the number of additional common shares that would have been outstanding if the potential common shares had been issued.
The following table (in thousands, except for loss per share) reconciles basic and diluted weighted average common shares outstanding for the three and six months ended June 30, 2016 and 2015:
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Three Months Ended June 30, |
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Six Months Ended June 30, |
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2016 |
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2015 |
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2016 |
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2015 |
Weighted average common shares outstanding: |
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Basic |
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228,323 |
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226,481 |
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228,231 |
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226,405 |
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Dilutive common stock options and unvested stock (1) |
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— |
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— |
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— |
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— |
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Diluted |
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228,323 |
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226,481 |
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228,231 |
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226,405 |
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Basic and diluted net loss per share attributable to common stockholders |
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$ |
(1.31 |
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$ |
(0.52 |
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$ |
(2.71 |
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$ |
(1.71 |
) |
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(1) |
Stock options and unvested stock of 7.1 million shares for each of the three and six months ended June 30, 2016 and 10.1 million shares for each of the three and six months ended June 30, 2015, representing securities that could potentially dilute basic EPS in the future, were not included in the diluted net loss per share computations because their effect would have been anti-dilutive. In addition, 16.0 million shares in aggregate for the three and six months ended June 30, 2016 and 15.5 million shares in aggregate for the three and six months ended June 30, 2015, issuable upon conversion of the 2021 Cheniere Convertible Unsecured Notes and the 2045 Cheniere Convertible Senior Notes, were not included in the computation of diluted net loss per share because the computation of diluted net loss per share utilizing the “if-converted” method would be anti-dilutive. There were no shares included in the computation of diluted net loss per share for the 2025 CCH HoldCo II Convertible Senior Notes because non-market-based contingencies underlying the eligible conversion date have not been met as of June 30, 2016.
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