Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2021

The following is a reconciliation of the denominators of the basic and diluted per share computations for net income (loss) attributable to HollyFrontier stockholders:


	Years Ended December 31,
	2021		2020		2019
	(In thousands, except per share data)
Net income (loss) attributable to HollyFrontier stockholders	$	558,324	$	(601,448)	$	772,388
Participating securities’ share in earnings (1)	7,465		1,811		1,034
Net income (loss) attributable to common shares	$	550,859	$	(603,259)	$	771,354
Average number of shares of common stock outstanding	162,569		161,983		166,287
Effect of dilutive variable restricted stock units and performance share units	—		—		1,098
Average number of shares of common stock outstanding assuming dilution	162,569		161,983		167,385
Basic earnings (loss) per share	$	3.39	$	(3.72)	$	4.64
Diluted earnings (loss) per share	$	3.39	$	(3.72)	$	4.61

(1)Unvested restricted stock unit awards and unvested performance share units that settle in HollyFrontier common stock represent participating securities because they participate in nonforfeitable dividends or distributions with the common stockholders of HollyFrontier. Participating earnings represent the distributed and undistributed earnings of HollyFrontier attributable to the participating securities. Unvested restricted stock unit awards and performance share units do not participate in undistributed net losses as they are not contractually obligated to do so.