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Net Income (Loss) per Share | 12 Months Ended
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Dec. 31, 2019
Earnings Per Share [Abstract] |
Net Income (Loss) per Share | Net Income (Loss) per Share The Company applies the two-class method to calculate its basic and diluted net income (loss) per share as both classes of its voting shares are participating securities with equal participation rights and are entitled to receive dividends on a share for share basis. The following table summarizes the reconciliation of the basic weighted average number of shares outstanding and the diluted weighted average number of shares outstanding:
| Years ended |  |
| December 31, 2020 |  | December 31, 2019 |  |  |  |
Numerator: |  |  |  |  |  |  |
Net income (loss) | $ | 319,509 |  |  | $ | (124,842) |  |  |  |  |
Denominator: |  |  |  |  |  |  |
Basic weighted average number of shares outstanding | 119,569,705 |  | 113,026,424 |  |  |  |
Effect of dilutive securities(1) | 3,893,569 |  | — |  |  |  |
Diluted weighted average number of shares | 123,463,274 |  | 113,026,424 |  |  |  |
Net income (loss) per share: |  |  |  |  |  |  |
Basic | $ | 2.67 |  |  | $ | (1.10) |  |  |  |  |
Diluted | $ | 2.59 |  |  | $ | (1.10) |  |  |  |  |
Common stock equivalents excluded from income (loss) per diluted share because they are anti-dilutive | 638,848 |  | 5,752,833 |  |  |  |  |
(1) Included in the effect of dilutive securities is the assumed conversion of employee stock options and employee RSUs. Convertible senior notes have been excluded as they are anti-dilutive. In the year ended December 31, 2019, the Company was in a loss position and therefore diluted loss per share is equal to basic loss per share.

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