Weighted Average Common Shares

3 Months Ended

Mar. 31, 2016

7. Weighted Average Common Shares

The Net income (loss) and weighted average number of common shares used in the basic and diluted earnings per share computations were as follows:

	Three Months Ended
	March 31,
	2016			2015
	(In millions,
	except per share amounts)
Net income (loss) attributable to Hess Corporation Common Stockholders:
Income (loss) from continuing operations, net of income taxes	$	(488	)	$	(376	)
Less: Net income (loss) attributable to noncontrolling interests		21			—
Net income (loss) from continuing operations attributable to Hess Corporation		(509	)		(376	)
Less: Preferred stock dividends		6			—
Net income (loss) from continuing operations attributable to Hess Corporation Common Stockholders		(515	)		(376	)
Income from discontinued operations, net of income taxes		—			(13	)
Net income (loss) attributable to Hess Corporation Common Stockholders	$	(515	)	$	(389	)

Weighted Average Number of Common Shares Outstanding:
Basic		299.8			283.5
Effect of dilutive securities
Restricted common stock		—			—
Stock options		—			—
Performance share units		—			—
Mandatory Convertible Preferred stock		—			—
Diluted		299.8			283.5

Net Income (Loss) Attributable to Hess Corporation per Common Share:
Basic:
Continuing operations	$	(1.72	)	$	(1.32	)
Discontinued operations		—			(0.05	)
Net income (loss) per common share	$	(1.72	)	$	(1.37	)
Diluted:
Continuing operations	$	(1.72	)	$	(1.32	)
Discontinued operations		—			(0.05	)
Net income (loss) per common share	$	(1.72	)	$	(1.37	)

During the three months ended March 31, 2016, we excluded 6,720,462 stock options (2015 Q1: 6,790,531), 3,036,611 restricted stock awards (2015 Q1: 2,876,887), and 885,939 performance share units (2015 Q1: 1,139,268) from the computation of diluted shares as those are anti-dilutive. Additionally, we excluded 7,214,291 shares of common stock from the computation of diluted shares upon the conversion of Convertible Preferred Stock, because their effect would be anti-dilutive under the if-converted method.

During the three months ended March 31, 2016, we granted 1,596,742 shares of restricted stock (2015 Q1: 1,118,043), 433,170 performance share units (2015 Q1: 362,873) and 805,068 stock options (2015 Q1: 521,773).