Earnings per Share (Tables)
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6 Months Ended |
Jun. 30, 2020 |
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| Earnings Per Share [Abstract] |
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| Reconciliation from Basic to Diluted Weighted Average Number of Shares Outstanding |
The reconciliation from basic to diluted weighted average shares outstanding is as follows:
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Three months ended
June 30, |
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Six months ended
June 30, |
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2020 |
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2019 |
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2020 |
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2019 |
| Weighted average shares outstanding – Basic |
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135,083,126 |
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134,142,552 |
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135,278,764 |
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134,044,972 |
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| 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 |
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588,704 |
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1,180,472 |
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800,776 |
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1,062,035 |
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| Weighted average shares outstanding – Diluted |
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135,671,830 |
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135,323,024 |
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136,079,540 |
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135,107,007 |
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| Schedule of Earnings Per Share, Basic and Diluted |
Basic and diluted earnings per share are calculated as follows:
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Three months ended
June 30, |
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Six months ended
June 30, |
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2020 |
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2019 |
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2020 |
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2019 |
| Numerator: |
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| Net income attributable to PQ Group Holdings Inc. |
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$ |
15,926 |
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$ |
30,574 |
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$ |
16,150 |
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$ |
33,725 |
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| Denominator: |
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| Weighted average shares outstanding – Basic |
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135,083,126 |
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134,142,552 |
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135,278,764 |
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134,044,972 |
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| Weighted average shares outstanding – Diluted |
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135,671,830 |
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135,323,024 |
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136,079,540 |
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135,107,007 |
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| Net income per share: |
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| Basic income per share |
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$ |
0.12 |
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$ |
0.23 |
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$ |
0.12 |
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$ |
0.25 |
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| Diluted income per share |
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$ |
0.12 |
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$ |
0.23 |
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$ |
0.12 |
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$ |
0.25 |
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| 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:
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Three months ended
June 30, |
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Six months ended
June 30, |
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2020 |
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2019 |
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2020 |
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2019 |
| Restricted stock awards with performance only targets not yet achieved |
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1,507,366 |
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1,637,134 |
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1,511,868 |
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1,638,318 |
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| Stock options with performance only targets not yet achieved |
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509,888 |
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586,253 |
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516,110 |
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586,253 |
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| Anti-dilutive restricted stock awards, restricted stock units and performance stock units |
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2,262,974 |
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1,421,401 |
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2,012 |
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| Anti-dilutive stock options |
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844,475 |
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863,063 |
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847,641 |
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863,063 |
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