Northern Oil and Gas, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)

12 Months Ended

Dec. 31, 2020

Reconciliation of the numerators and denominators used to calculate basic EPS and diluted EPS

The reconciliation of the numerators and denominators used to calculate basic EPS and diluted EPS for the years ended December 31, 2020, 2019 and 2018 are as follows:


	December 31,
(In thousands, except share and per share data)	2020		2019		2018
Net Income (Loss)	$	(906,041)	$	(76,318)	$	143,689
Less: Cumulative Dividends on Preferred Stock	15,266		1,029		—
Net Income (Loss) Attributable to Common Stock	$	(921,307)	$	(77,347)	$	143,689

Weighted Average Common Shares Outstanding:
Weighted Average Common Shares Outstanding – Basic*	42,744,639		38,708,460		23,620,646
Plus: Dilutive Effect of Stock Options, Restricted Stock and Preferred Shares	—		—		56,745
Weighted Average Common Shares Outstanding – Diluted*	42,744,639		38,708,460		23,677,391

Net Income (Loss) per Common Share:
Basic*	$	(21.55)	$	(2.00)	$	6.08
Diluted*	$	(21.55)	$	(2.00)	$	6.07

*Adjusted for the 1-for-10 reverse stock split effected on September 18, 2020. See Note 5.

Securities excluded from the calculation of diluted weighted average common shares outstanding

The following securities have been excluded from the calculation of diluted weighted average common shares outstanding as the inclusion of these securities would have an anti-dilutive effect:


	December 31,
	2020	2019	2018
Restricted Stock Awards*	98,595	67,304	5,069
Series A Preferred Stock (if converted)*	9,899,376	7,079,907	—
Total	9,997,971	7,147,211	5,069

*Adjusted for the 1-for-10 reverse stock split effected on September 18, 2020. See Note 5.