15. Common Stock and Earnings Per Share

At December 31, 2012, shares of EQT’s authorized and unissued common stock were reserved as follows:

		(Thousands)

Possible future acquisitions		20,457
Stock compensation plans		10,048
Total		30,505

Earnings Per Share

The computation of basic and diluted earnings per share of common stock attributable to EQT Corporation is shown in the table below:

	Years Ended December 31,
	2012		2011		2010
	(Thousands except per share amounts)
Basic earnings per common share:
Net income attributable to EQT Corporation	$	183,395	$	479,769	$	227,700
Average common shares outstanding	149,619		149,392		144,458
Basic earnings per common share	$	1.23	$	3.21	$	1.58
Diluted earnings per common share:
Net income attributable to EQT Corporation	$	183,395	$	479,769	$	227,700
Average common shares outstanding	149,619		149,392		144,458
Potentially dilutive securities:
Stock options and awards (a)	887		817		774
Total	150,506		150,209		145,232
Diluted earnings per common share	$	1.22	$	3.19	$	1.57

(a) Options to purchase 281,528, 6,480 and 1,229,109 shares of common stock were not included in the computation of diluted earnings per common share for 2012, 2011 and 2010, respectively, because the options’ exercise prices were greater than the average market price of the common shares in the applicable year. The impact of the Partnership’s diluted units did not have a material impact to the Company’s earnings per share calculations for any of the periods presented.