Cheniere Energy, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Net Income (Loss) Per Share Attributable to Common Stockholders

Net Income (Loss) Per Share Attributable to Common Stockholders

3 Months Ended

Mar. 31, 2017

Net Income (Loss) Per Share Attributable to Common Stockholders

NET INCOME (LOSS) PER SHARE ATTRIBUTABLE TO COMMON STOCKHOLDERS

Basic net income (loss) per share attributable to common stockholders (“EPS”) excludes dilution and is computed by dividing net income (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 income (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 dilutive effect of stock options and unvested stock is calculated using the treasury-stock method and the dilutive effect of convertible securities is calculated using the if-converted method.

The following table (in millions, except per share data) reconciles basic and diluted weighted average common shares outstanding for the three months ended March 31, 2017 and 2016:



	Three Months Ended March 31,
	2017		2016
Weighted average common shares outstanding:
Basic	232.4		228.1
Dilutive unvested stock	0.3		—
Diluted	232.7		228.1

Basic and diluted net income (loss) per share attributable to common stockholders	$	0.23	$	(1.41	)

Potentially dilutive securities that were not included in the diluted net income (loss) per share computations because their effect would have been anti-dilutive were as follows (in millions):



	Three Months Ended March 31,
	2017	2016
Stock options and unvested stock (1)	1.2	2.0
Convertible notes (2)	16.5	16.0
Total potentially dilutive common shares	17.7	18.0


(1)	Does not include 5.1 million shares and 5.4 million shares for the three months ended March 31, 2017 and 2016, respectively, of unvested stock because the performance conditions had not yet been satisfied as of March 31, 2017 and 2016.

(2)

Includes number of shares in aggregate issuable upon conversion of the 2021 Cheniere Convertible Unsecured Notes and the 2045 Cheniere Convertible Senior Notes. There were no shares included in the computation of diluted net income (loss) per share for the 2025 CCH HoldCo II Convertible Senior Notes because substantive non-market-based contingencies underlying the eligible conversion date have not been met as of March 31, 2017.