Kinetik Holdings Inc
For the period ended Sep 30, 2024. Filed Nov 8, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 8, 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 Ended September 30, | Nine Months Ended September 30, | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| (In thousands, except per share amounts) | ||||
| Net income attributable to Class A common shareholders | $25,763 | $15,580 | $74,505 | $42,030 |
| Less: Net income available to participating unvested restricted Class A common shareholders(1) | (4,755) | (4,414) | (13,636) | (12,996) |
| Total net income attributable to Class A common shareholders | $21,008 | $11,166 | $60,869 | $29,034 |
| Weighted average shares outstanding - basic | 59,811 | 53,340 | 59,116 | 50,464 |
| Dilutive effect of unvested Class A common shares(2) | 613 | 123 | 736 | 255 |
| Weighted average shares outstanding - diluted(2)(3) | 60,424 | 53,463 | 59,852 | 50,719 |
| Net income available per common share - basic | $0.35 | $0.21 | $1.03 | $0.58 |
| Net income available per common share - diluted | $0.35 | $0.21 | $1.02 | $0.57 |
(1)Represents dividends paid to unvested Class A and Class C Shares, RSUs and PSUs.
(2)Includes dilutive effect from both RSUs and PSUs on unvested Class A common shares.
(3)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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