SEC Filings

8-K
RANGE RESOURCES CORP filed this Form 8-K on 10/24/2018
Entire Document
 

RANGE RESOURCES CORPORATION

 

RECONCILIATION OF NET INCOME (LOSS), EXCLUDING

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(In thousands, except per share data)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

September 30,

 

 

 

Nine Months Ended

September 30,

 

 

 

 

2018

 

 

 

2017

 

 

 

 

2018

 

 

 

2017

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss), as reported

$

48,539

 

 

$

(127,700

)

 

 

$

17,941

 

 

$

111,961

 

 

Adjustment for certain special items:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loss (gain) on sale of assets

 

30

 

 

 

(102

)

 

 

 

(149

)

 

 

(23,509

)

 

(Gain) loss on ARO settlements

 

 

 

 

(104

)

 

 

 

12

 

 

 

(64

)

 

Change in fair value related to derivatives prior to settlement

 

(331

)

 

 

105,283

 

 

 

 

111,618

 

 

 

(172,264

)

 

Impairment of proved property

 

 

 

 

63,679

 

 

 

 

22,614

 

 

 

63,679

 

 

Abandonment and impairment of unproved properties

 

6,549

 

 

 

42,568

 

 

 

 

73,244

 

 

 

52,181

 

 

Lawsuit settlements

 

53

 

 

 

5,865

 

 

 

 

1,385

 

 

 

7,028

 

 

Termination costs

 

(336

)

 

 

(16

)

 

 

 

(373

)

 

 

2,384

 

 

Non-cash stock-based compensation

 

6,952

 

 

 

11,395

 

 

 

 

42,527

 

 

 

41,020

 

 

Deferred compensation plan

 

223

 

 

 

(9,203

)

 

 

 

(559

)

 

 

(36,838

)

 

Tax impact

 

2,268

 

 

 

(80,034

)

 

 

 

(41,322

)

 

 

42,762

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

$

63,947

 

 

$

11,631

 

 

 

$

226,938

 

 

$

88,340

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) per diluted share, as reported

$

0.19

 

 

$

(0.52

)

 

 

$

0.07

 

 

$

0.45

 

 

Adjustment for certain special items per diluted share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(Gain) loss on sale of assets

 

 

 

 

 

 

 

 

 

 

 

(0.10

)

 

Loss (gain) on ARO settlements

 

 

 

 

 

 

 

 

 

 

 

 

 

Change in fair value related to derivatives prior to settlement

 

 

 

 

0.43

 

 

 

 

0.45

 

 

 

(0.70

)

 

Impairment of proved property

 

 

 

 

0.26

 

 

 

 

0.09

 

 

 

0.26

 

 

Abandonment and impairment of unproved properties

 

0.03

 

 

 

0.17

 

 

 

 

0.30

 

 

 

0.21

 

 

Lawsuit settlements

 

 

 

 

0.02

 

 

 

 

0.01

 

 

 

0.03

 

 

Termination costs

 

 

 

 

 

 

 

 

 

 

 

0.01

 

 

Non-cash stock-based compensation

 

0.03

 

 

 

0.05

 

 

 

 

0.17

 

 

 

0.17

 

 

Deferred compensation plan

 

 

 

 

(0.04

)

 

 

 

 

 

 

(0.15

)

 

Adjustment for rounding differences

 

 

 

 

0.01

 

 

 

 

 

 

 

0.01

 

 

Tax impact

 

0.01

 

 

 

(0.33

)

 

 

 

(0.17

)

 

 

0.17

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

$

0.26

 

 

$

0.05

 

 

 

$

0.92

 

 

$

0.36

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Adjusted earnings per share, a non-GAAP measure:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

$

0.26

 

 

$

0.05

 

 

 

$

0.92

 

 

$

0.36

 

 

Diluted

$

0.26

 

 

$

0.05

 

 

 

$

0.92

 

 

$

0.36

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


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