Earnings per Share (Tables)
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9 Months Ended |
Sep. 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
September 30, |
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Nine months ended
September 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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135,106,969 |
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134,511,819 |
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135,292,163 |
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134,213,571 |
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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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872,149 |
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1,137,891 |
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895,870 |
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1,091,799 |
| Weighted average shares outstanding – Diluted |
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135,979,118 |
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135,649,710 |
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136,188,033 |
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135,305,370 |
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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
September 30, |
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Nine months ended
September 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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$ |
7,512 |
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$ |
26,713 |
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$ |
23,662 |
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$ |
60,438 |
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| Denominator: |
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| Weighted average shares outstanding – Basic |
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135,106,969 |
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134,511,819 |
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135,292,163 |
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134,213,571 |
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| Weighted average shares outstanding – Diluted |
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135,979,118 |
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135,649,710 |
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136,188,033 |
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135,305,370 |
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| Net income per share: |
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| Basic income per share |
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$ |
0.06 |
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$ |
0.20 |
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$ |
0.17 |
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$ |
0.45 |
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| Diluted income per share |
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$ |
0.06 |
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$ |
0.20 |
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$ |
0.17 |
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$ |
0.45 |
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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
September 30, |
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Nine months ended
September 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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950,174 |
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1,537,572 |
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1,323,270 |
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1,601,474 |
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| Stock options with performance only targets not yet achieved |
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503,526 |
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578,564 |
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509,782 |
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583,204 |
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| Anti-dilutive restricted stock awards, restricted stock units and performance stock units |
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1,539,506 |
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1,432,906 |
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| Anti-dilutive stock options |
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844,475 |
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863,063 |
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846,578 |
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863,063 |
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