Loss Per Share
 9 Months Ended
Sep. 30, 2016
Earnings Per Share [Abstract]  
Loss Per Share
Loss Per Share
Basic loss per share is computed by dividing net loss attributable to common stockholders by the weighted average number of common shares outstanding during the reportable period. Diluted loss per share is computed by adjusting basic loss per share for the effect of all potential common shares unless they are anti-dilutive. For purpose of this calculation, potentially dilutive securities are determined by applying the treasury stock method to the assumed exercise of in-the-money stock options and the assumed vesting of outstanding restricted stock awards (RSAs) and release of deferred restricted stock units (RSUs). Potentially dilutive securities related to convertible senior notes are determined using the if-converted method.
The Company's vested deferred RSUs have non-forfeitable rights to dividends prior to release and are considered participating securities. Accordingly, they are included in the computation of basic and diluted loss per share, pursuant to the two-class method. Under the two-class method, distributed and undistributed earnings allocated to participating securities are excluded from net loss attributable to common stockholders for purposes of calculating basic and diluted loss per share. However, net losses are not allocated to participating securities since they are not contractually obligated to share in the losses of the Company.
For the three and nine months ended September 30, 2016, the Company excluded 8,121,850 and 8,115,741, respectively, and excluded 5,578,764 and 2,027,347 for the same periods in the prior year, of potentially dilutive securities from the diluted loss per share calculation as their effect is anti-dilutive.
The computations for Class A basic and diluted loss per share are as follows (in thousands except share data):
 
Three months ended September 30,
 
Nine months ended September 30,
 
2016
 
2015
 
2016
 
2015
Numerator for basic and diluted loss per share:
 
 
 
 
 
 
 
Net loss attributable to Pattern Energy
$
(4,013
)
 
$
(29,405
)
 
$
(30,906
)
 
$
(34,987
)
Less: dividends declared on Class A common stock
(34,988
)
 
(27,113
)
 
(92,759
)
 
(75,117
)
Less: earnings allocated to participating securities
(16
)
 
—

 
(36
)
 
—

Undistributed loss attributable to common stockholders
$
(39,017
)
 
$
(56,518
)
 
$
(123,701
)
 
$
(110,104
)
 
 
 
 
 
 
 
 
Denominator for loss per share:
 
 
 
 
 
 
 
Weighted average number of shares:
 
 
 
 
 
 
 
Class A common stock - basic and diluted
81,531,775

 
72,789,583

 
76,821,811

 
69,233,698

 
 
 
 
 
 
 
 
Calculation of basic and diluted loss per share:
 
 
 
 
 
 
 
Dividends
$
0.43

 
$
0.37

 
$
1.21

 
$
1.08

Undistributed loss
(0.48
)
 
(0.78
)
 
(1.61
)
 
(1.59
)
Basic and diluted loss per share
$
(0.05
)
 
$
(0.40
)
 
$
(0.40
)
 
$
(0.51
)
 
 
 
 
 
 
 
 
Dividends declared per Class A common share
$
0.40

 
$
0.36

 
$
1.17

 
$
1.06