Earnings (Loss) Per Common Share (EPS) (Tables)

9 Months Ended

Sep. 30, 2019

The following table represents the computation of earnings per share:



	Successor		Predecessor
	Three Months Ended September 30,		Three Months Ended September 30,
Dollars in thousands, except share and per share amounts	2019		2018
Basic EPS
Numerator
Net income (loss) available to common stockholders (numerator)	$	3,989	$	(71,857	)
Denominator
Weighted average shares outstanding	15,044,739		9,334,390
Number of shares used for basic EPS computation	15,044,739		9,334,390
Basic earnings (loss) per common share	$	0.27	$	(7.70	)

	Successor		Predecessor
	Three Months Ended September 30,		Three Months Ended September 30,
Dollars in thousands, except share and per share amounts	2019		2018
Diluted EPS
Numerator
Net income (loss) available to common stockholders (numerator)	$	3,989	$	(71,857	)
Denominator
Number of shares used for basic EPS computation	15,044,739		9,334,390
Successor unvested restricted stock units	—		—
Successor unvested stock options	—		—
Successor warrants	—		—
Predecessor preferred stock	—		—
Number of shares used for diluted EPS computation	15,044,739		9,334,390
Diluted earnings (loss) per common share	$	0.27	$	(7.70	)



	Successor		Predecessor
	Six Months Ended September 30,		Three Months Ended March 31,			Nine Months Ended September 30,
Dollars in thousands, except share and per share amounts	2019		2019			2018
Basic EPS
Numerator
Net income (loss) available to common stockholders (numerator)	$	8,630	$	(90,248	)	$	(125,343	)
Denominator
Weighted average shares outstanding	15,044,739		9,368,322			9,292,858
Number of shares used for basic EPS computation	15,044,739		9,368,322			9,292,858
Basic earnings (loss) per common share	$	0.57	$	(9.63	)	$	(13.49	)

	Successor		Predecessor
	Six Months Ended September 30,		Three Months Ended March 31,			Nine Months Ended September 30,
Dollars in thousands, except share and per share amounts	2019		2019			2018
Diluted EPS
Numerator
Net income (loss) available to common stockholders (numerator)	$	8,630	$	(90,248	)	$	(125,343	)
Denominator
Number of shares used for basic EPS computation	15,044,739		9,368,322			9,292,858
Successor unvested restricted stock units	—		—			—
Successor unvested stock options	—		—			—
Successor warrants	—		—			—
Predecessor preferred stock	—		—			—
Number of shares used for diluted EPS computation	15,044,739		9,368,322			9,292,858
Diluted earnings (loss) per common share	$	0.57	$	(9.63	)	$	(13.49	)

The following shares were excluded from the computation of diluted EPS as such shares would be anti-dilutive:



	Successor	Predecessor
	Three Months Ended September 30,	Three Months Ended September 30,
	2019	2018
Successor unvested restricted stock units	198,765	—
Successor unvested stock options	298,150	—
Successor warrants	2,580,182	—
Predecessor preferred stock	—	1,587,300



	Successor	Predecessor
	Six Months Ended September 30,	Three Months Ended March 31,	Nine Months Ended September 30,
	2019	2019	2018
Successor unvested restricted stock units	198,765	—	—
Successor unvested stock options	298,150	—	—
Successor warrants	2,580,182	—	—
Predecessor preferred stock	—	1,587,300	1,587,300

PARKER DRILLING CO /DE/ 10-Q