Quarterly report pursuant to Section 13 or 15(d)

Summary of Significant Accounting Policies (Tables)

Summary of Significant Accounting Policies (Tables)

9 Months Ended

Sep. 30, 2022

Summary of Significant Accounting Policies

Reconciliation of earnings (loss) attributable to common stockholders for basic and diluted earnings (loss) per share

The following is a reconciliation of the Company’s earnings (loss) attributable to common stockholders for basic and diluted earnings (loss) per share (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2021		2022		2021		2022
Net income (loss) attributable to Antero Resources Corporation—common shareholders	$	(549,318)		559,759		(1,088,284)		1,168,475
Add: Interest expense for 2026 Convertible Notes		—		830		—		2,764
Less: Tax-effect of interest expense for 2026 Convertible Notes		—		(193)		—		(642)
Net income (loss) attributable to Antero Resources Corporation—common shareholders and assumed conversions	$	(549,318)		560,396		(1,088,284)		1,170,597

Income (loss) per share—basic	$	(1.75)		1.83		(3.55)		3.77
Income (loss) per share—diluted	$	(1.75)		1.72		(3.55)		3.51

Weighted average common shares outstanding—basic		313,790		305,343		306,201		309,954
Weighted average common shares outstanding—diluted		313,790		325,997		306,201		333,738

Reconciliation of basic weighted average shares outstanding to diluted weighted average shares outstanding

The following is a reconciliation of the Company’s basic weighted average shares outstanding to diluted weighted average shares outstanding during the periods presented (in thousands):


	Three Months Ended September 30,		Nine Months Ended September 30,
	2021	2022	2021	2022
Basic weighted average number of shares outstanding	313,790	305,343	306,201	309,954
Add: Dilutive effect of RSUs	—	3,041	—	3,444
Add: Dilutive effect of PSUs	—	1,486	—	2,462
Add: Dilutive effect of stock options	—	—	—	—
Add: Dilutive effect of 2026 Convertible Notes	—	16,127	—	17,878
Diluted weighted average number of shares outstanding	313,790	325,997	306,201	333,738

Weighted average number of outstanding securities excluded from calculation of diluted earnings per common share ⁽¹⁾:
RSUs	6,158	—	6,562	—
PSUs	2,748	—	2,706	—
Stock options	357	349	388	350
2026 Convertible Notes	18,778	—	18,778	—

(1)	The potential dilutive effects of these awards were excluded from the computation of diluted earnings (loss) per common share because the inclusion of these awards would have been anti-dilutive.