Kinetik Holdings Inc
For the period ended Mar 31, 2024. Filed May 9, 2024.
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Mar 31, 2024 · Filed May 9, 2024
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NET INCOME PER SHARE
- NET INCOME PER SHARE
The computation of basic and diluted net income per share for the periods presented in the condensed consolidated financial statements is shown in the tables below:
| Three Months EndedMarch 31, | ||
|---|---|---|
| 2024 | 2023 | |
| (In thousands, except per share amounts) | ||
| Net income attributable to Class A common shareholders | $11,550 | $1,436 |
| Less: Net income available to participating unvested restricted Class A common shareholders(1) | (4,394) | (4,156) |
| Total net income attributable to Class A common shareholders | $7,156 | $(2,720) |
| Weighted average shares outstanding - basic(2) | 57,869 | 47,612 |
| Dilutive effect of unvested Class A common shares(3) | 523 | 213 |
| Weighted average shares outstanding - diluted(2)(4) | 58,392 | 47,825 |
| Net income available per common share - basic | $0.12 | $(0.06) |
| Net income available per common share - diluted | $0.12 | $(0.06) |
(1)Represents dividends paid to unvested Class A Shares.
(2)Weighted average Class A common shares have been retrospectively restated due to bonus effect of Class A common shares issued under the Reinvestment Agreement for all periods presented in which the Class A common shares were outstanding.
(3)Includes dilutive effect from both RSUs and PSUs on unvested Class A common shares.
(4)The effect of an assumed exchange of outstanding Common Units (and the cancellation of a corresponding number of shares of outstanding Class C Common Stock) would have been anti-dilutive for all periods presented in which the Common Units were outstanding.
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