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Basic and Diluted (Loss) Earnings per Share (Tables)

9 Months Ended

Sep. 30, 2023

Earnings Per Share [Abstract]

Computation of Basic and Diluted (Loss) Earnings per Share

The following table sets forth the computation of basic and diluted (loss) earnings per share (in thousands, except per share data) for the periods indicated:

		Three Months Ended								Nine Months Ended
		September 30,								September 30,
		2023				2022				2023				2022
Numerator:
Net (loss) income - Basic		$	(143,441	)		$	(27,079	)		$	339,995			$	(1,220,128	)
Effect of dilutive shares on net (loss) income:
Interest expense on 2025 Convertible Notes, net of tax			0				0				4,255				0
Interest expense on 2027 Convertible Notes, net of tax			0				0				2,165				0
Net (loss) income - Diluted		$	(143,441	)		$	(27,079	)		$	346,415			$	(1,220,128	)
Denominator:
Weighted average common shares of class A common stock			12,257				9,344				9,701				9,335
Weighted average common shares of class B common stock			1,964				1,964				1,964				1,964
Total weighted average shares of common stock outstanding - Basic			14,221				11,308				11,665				11,299
Effect of dilutive shares on weighted average common shares outstanding:
Stock options			0				0				430				0
Restricted stock units			0				0				43				0
Performance stock units			0				0				8				0
Employee stock purchase plan			0				0				0				0
2025 Convertible Notes			0				0				1,633				0
2027 Convertible Notes			0				0				733				0
Total weighted average shares of common stock outstanding - Diluted			14,221				11,308				14,512				11,299
(Loss) earnings per share:
Basic (loss) earnings per share (1)		$	(10.09	)		$	(2.39	)		$	29.15			$	(107.99	)
Diluted (loss) earnings per share (1)		$	(10.09	)		$	(2.39	)		$	23.87			$	(107.99	)

(1) Basic and fully diluted (loss) earnings per share for class A and class B common stock are the same.

Schedule of Weighted Average of Potential Class A Common Stock Excluded from Computation of (Loss) Earnings Per Share

For the three and nine months ended September 30, 2023 and 2022, the following weighted average shares of potential class A common stock were excluded from the diluted (loss) earnings per share calculation because their impact would have been anti-dilutive (in thousands):

		Three Months Ended								Nine Months Ended
		September 30,								September 30,
		2023				2022				2023				2022
Stock options			1,406				1,497				633				1,428
Restricted stock units			204				130				34				118
Performance stock units			52				0				0				0
Employee stock purchase plan			3				5				2				2
2025 Convertible Notes			1,633				1,633				0				1,633
2027 Convertible Notes			733				733				0				733
Total			4,031				3,998				669				3,914

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- References

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- Definition

Tabular disclosure of securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) in the future that were not included in the computation of diluted EPS because to do so would increase EPS amounts or decrease loss per share amounts for the period presented, by antidilutive securities.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482662/260-10-50-1

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- Definition

Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482662/260-10-50-1

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