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Net Income (Loss) Per Share | 9 Months Ended
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Sep. 30, 2023
Earnings Per Share [Abstract] |
Net Income (Loss) Per Share | Net Income (Loss) Per Share Basic net income (loss) per share is computed by dividing net income (loss) by the weighted average number of common shares outstanding for the period. Diluted net income (loss) per share is computed using the weighted average number of common shares outstanding and, when dilutive, common share equivalents. The computation of basic and diluted net income (loss) per share was as follows:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
(in millions, except share and per share data) | 2023 |  | 2022 |  | 2023 |  | 2022
Net income (loss) | $ | 51.9 |  |  | $ | (5.2) |  |  | $ | 103.0 |  |  | $ | (12.4) |
Add back interest expense, net of tax | 2.5 |  |  | — |  |  | — |  |  | — |
Net income (loss), diluted | $ | 54.4 |  |  | $ | (5.2) |  |  | $ | 103.0 |  |  | $ | (12.4) |
Weighted average number of common shares outstanding, basic (in thousands) | 69,823 |  |  | 69,418 |  |  | 69,715 |  |  | 69,343 |
Stock options | 237 |  |  | — |  |  | 317 |  |  | — |
Restricted stock units | 36 |  |  | — |  |  | 79 |  |  | — |
Convertible Notes | 3,528 |  |  | — |  |  | — |  |  | — |
Weighted average number of common shares outstanding, diluted (in thousands) | 73,624 |  |  | 69,418 |  |  | 70,111 |  |  | 69,343 |
Net income (loss) per share |  |  |  |  |  |  |
Basic | $ | 0.74 |  |  | $ | (0.08) |  |  | $ | 1.48 |  |  | $ | (0.18) |
Diluted | $ | 0.74 |  |  | $ | (0.08) |  |  | $ | 1.47 |  |  | $ | (0.18) |
The number of common share equivalents excluded from the computation of diluted net income (loss) per share because either the effect would have been anti-dilutive, or the performance criteria related to the units had not yet been met, were as follows:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
(in thousands) | 2023 |  | 2022 |  | 2023 |  | 2022
Restricted stock units | 352 |  |  | 227 |  |  | 294 |  |  | 314 |
Stock options | 160 |  |  | 595 |  |  | 157 |  |  | 602 |
Convertible Notes | — |  |  | 3,528 |  |  | 3,528 |  |  | 3,528 |
Total | 512 |  |  | 4,350 |  |  | 3,979 |  |  | 4,444 |

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