Earnings per Share (Tables)
|
9 Months Ended |
Sep. 30, 2019 |
|---|
| Earnings Per Share [Abstract] |
|
| Reconciliation from Basic to Diluted Weighted Average Number of Shares Outstanding |
The reconciliation from basic to diluted weighted average shares outstanding is as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three months ended
September 30, |
|
Nine months ended
September 30, |
|
|
2019 |
|
2018 |
|
2019 |
|
2018 |
Weighted average shares outstanding – Basic |
|
134,511,819 |
|
|
133,336,352 |
|
|
134,213,571 |
|
|
133,237,653 |
|
Dilutive effect of unvested common shares and restricted stock units with service conditions, performance stock units considered probable of vesting and assumed stock option exercises and conversions |
|
1,137,891 |
|
|
1,239,810 |
|
|
1,091,799 |
|
|
985,975 |
|
Weighted average shares outstanding – Diluted |
|
135,649,710 |
|
|
134,576,162 |
|
|
135,305,370 |
|
|
134,223,628 |
|
|
|
|
|
|
|
|
|
|
|
| Schedule of Earnings Per Share, Basic and Diluted |
Basic and diluted earnings per share are calculated as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three months ended
September 30, |
|
Nine months ended
September 30, |
|
|
2019 |
|
2018 |
|
2019 |
|
2018 |
Numerator: |
|
|
|
|
|
|
|
|
Net income attributable to PQ Group Holdings Inc. |
|
$ |
26,713 |
|
|
$ |
14,185 |
|
|
$ |
60,438 |
|
|
$ |
30,181 |
|
|
|
|
|
|
|
|
|
|
Denominator: |
|
|
|
|
|
|
|
|
Weighted average shares outstanding – Basic |
|
134,511,819 |
|
|
133,336,352 |
|
|
134,213,571 |
|
|
133,237,653 |
|
Weighted average shares outstanding – Diluted |
|
135,649,710 |
|
|
134,576,162 |
|
|
135,305,370 |
|
|
134,223,628 |
|
Net income per share: |
|
|
|
|
|
|
|
|
Basic income per share |
|
$ |
0.20 |
|
|
$ |
0.11 |
|
|
$ |
0.45 |
|
|
$ |
0.23 |
|
Diluted income per share |
|
$ |
0.20 |
|
|
$ |
0.11 |
|
|
$ |
0.45 |
|
|
$ |
0.22 |
|
|
|
|
|
|
|
|
|
|
|
| Schedule of Securities Excluded from Computation of Earnings Per Share |
The table below presents the details of the Company’s weighted average equity-based awards outstanding during each respective period that were excluded from the calculation of diluted earnings per share:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three months ended
September 30, |
|
Nine months ended
September 30, |
|
|
2019 |
|
2018 |
|
2019 |
|
2018 |
Restricted stock awards with performance only targets not yet achieved |
|
1,537,572 |
|
|
1,709,463 |
|
|
1,601,474 |
|
|
1,719,775 |
|
Stock options with performance only targets not yet achieved |
|
578,564 |
|
|
586,253 |
|
|
583,204 |
|
|
586,253 |
|
Anti-dilutive restricted stock awards, restricted stock units and performance stock units |
|
— |
|
|
— |
|
|
— |
|
|
18,076 |
|
Anti-dilutive stock options |
|
863,063 |
|
|
760,766 |
|
|
863,063 |
|
|
668,596 |
|
|
|
|
|
|
|
|
|
|
|