SEC Filings

8-K
RANGE RESOURCES CORP filed this Form 8-K on 07/31/2018
Entire Document
 

RANGE RESOURCES CORPORATION

 

RECONCILIATION OF NET (LOSS) INCOME, EXCLUDING

CERTAIN ITEMS AND ADJUSTMENT EARNINGS PER SHARE, non-GAAP measures

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(In thousands, except per share data)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

June 30,

 

 

 

Six Months Ended

June 30,

 

 

 

 

2018

 

 

 

2017

 

 

 

 

2018

 

 

 

2017

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net (loss) income, as reported

$

(79,836

)

 

$

69,550

 

 

 

$

(30,598

)

 

$

239,661

 

 

Adjustment for certain special items:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(Gain) loss on sale of assets

 

(156

)

 

 

(807

)

 

 

 

(179

)

 

 

(23,407

)

 

Loss (gain) on ARO settlements

 

12

 

 

 

40

 

 

 

 

12

 

 

 

40

 

 

Change in fair value related to derivatives prior to settlement

 

89,015

 

 

 

(107,809

)

 

 

 

111,949

 

 

 

(277,547

)

 

Impairment of proved property

 

15,302

 

 

 

 

 

 

 

22,614

 

 

 

 

 

Abandonment and impairment of unproved properties

 

54,922

 

 

 

5,193

 

 

 

 

66,695

 

 

 

9,613

 

 

Lawsuit settlements

 

1,155

 

 

 

540

 

 

 

 

1,332

 

 

 

1,163

 

 

Termination costs

 

 

 

 

(50

)

 

 

 

(37

)

 

 

2,400

 

 

Non-cash stock-based compensation

 

10,037

 

 

 

15,671

 

 

 

 

35,575

 

 

 

29,625

 

 

Deferred compensation plan

 

6,615

 

 

 

(14,466

)

 

 

 

(782

)

 

 

(27,635

)

 

Tax impact

 

(46,749

)

 

 

48,029

 

 

 

 

(43,590

)

 

 

122,796

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) excluding certain items, a non-GAAP measure

$

50,317

 

 

$

15,891

 

 

 

$

162,991

 

 

$

76,709

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net (loss) income per diluted share, as reported

$

(0.32

)

 

$

0.28

 

 

 

$

(0.13

)

 

$

0.97

 

 

Adjustment for certain special items per diluted share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(Gain) loss on sale of assets

 

(0.00

)

 

 

(0.00

)

 

 

 

(0.00

)

 

 

(0.10

)

 

Change in fair value related to derivatives prior to settlement

 

0.36

 

 

 

(0.44

)

 

 

 

0.46

 

 

 

(1.13

)

 

Impairment of proved property

 

0.06

 

 

 

 

 

 

 

0.09

 

 

 

 

 

Abandonment and impairment of unproved properties

 

0.22

 

 

 

0.02

 

 

 

 

0.27

 

 

 

0.04

 

 

Lawsuit settlements

 

0.00

 

 

 

0.00

 

 

 

 

0.01

 

 

 

0.00

 

 

Termination costs

 

 

 

 

(0.00

)

 

 

 

(0.00

)

 

 

0.01

 

 

Non-cash stock-based compensation

 

0.04

 

 

 

0.06

 

 

 

 

0.14

 

 

 

0.12

 

 

Deferred compensation plan

 

0.03

 

 

 

(0.06

)

 

 

 

(0.00

)

 

 

(0.11

)

 

Adjustment for rounding differences

 

 

 

 

 

 

 

 

 

 

 

0.01

 

 

Tax impact

 

(0.19

)

 

 

0.20

 

 

 

 

(0.18

)

 

 

0.50

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) per diluted share, excluding certain items, a non-GAAP measure

$

0.20

 

 

$

0.06

 

 

 

$

0.66

 

 

$

0.31

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Adjusted earnings (loss) per share, a non-GAAP measure:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

$

0.20

 

 

$

0.06

 

 

 

$

0.66

 

 

$

0.31

 

 

Diluted

$

0.20

 

 

$

0.06

 

 

 

$

0.66

 

 

$

0.31

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

14