| Schedule of Earnings Per Share, Basic and Diluted |
The following table (in thousands, except for loss per share) reconciles basic and diluted weighted average common shares outstanding for the three and nine months ended September 30, 2016 and 2015:
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Three Months Ended |
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Nine Months Ended |
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September 30, |
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September 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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228,924 |
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227,126 |
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228,463 |
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226,648 |
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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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228,924 |
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227,126 |
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228,463 |
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226,648 |
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Basic and diluted net loss per share attributable to common stockholders |
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$ |
(0.44 |
) |
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$ |
(1.31 |
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$ |
(3.15 |
) |
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$ |
(3.02 |
) |
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(1) |
Stock options and unvested stock of 5.8 million shares and 5.7 million shares for the three and nine months ended September 30, 2016, respectively, and 8.6 million shares for each of the three and nine months ended September 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. Included in these numbers of shares are 5.1 million shares for each of the three and nine months ended September 30, 2016 and 5.4 million shares for each of the three and nine months ended September 30, 2015 of unvested stock that have performance conditions not yet satisfied as of September 30, 2016 and 2015, respectively. In addition, 16.2 million shares in aggregate for the three and nine months ended September 30, 2016 and 15.6 million shares in aggregate for the three and nine months ended September 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 substantive non-market-based contingencies underlying the eligible conversion date have not been met as of September 30, 2016.
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