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Net Income (Loss) Per Share

12 Months Ended

Dec. 31, 2019

Net Income (Loss) Per Share

Net Income (Loss) Per Share

Note 14. Net Income (Loss) Per Share

Our basic net income (loss) per share is computed by dividing the net income (loss) by the number of weighted average common shares outstanding during the period. Our diluted net income (loss) per share is computed by dividing net income (loss) by the weighted average common shares outstanding during the period assuming potentially dilutive common shares of stock options, RSUs, PSUs and common shares issuable upon conversion of the 2018 Notes and 2020 Notes using the if-converted method.  Common shares issuable upon conversion of the 2018 Notes and 2020 Notes were excluded from the diluted net income (loss) per share computation for all periods presented as their share effect was anti-dilutive.

Net income (loss) per share was calculated as follows for the periods indicated below:

​

​	​	​	​	​	​	​	​	​	​
​	​	Year Ended  December 31,
(in thousands, except per share data)		2019			2018			2017
Basic Net Income (Loss) Per Share	​	​	​	​	​	​	​	​	​
Basic net income (loss)	​	$	446,906	​	$	109,493	​	$	(313,142)
Weighted average common shares outstanding	​	​	214,913	​	​	212,383	​	​	204,580
​	​	​	​	​	​	​	​	​	​
Basic net income (loss) per share	​	$	2.08	​	$	0.52	​	$	(1.53)
​	​	​	​	​	​	​	​	​	​
Diluted Net Income (Loss) Per Share	​	​	​	​	​	​	​	​	​
Diluted net income (loss)	​	$	446,906	​	$	109,493	​	$	(313,142)
Weighted average common shares outstanding	​	​	214,913	​	​	212,383	​	​	204,580
​	​	​	​	​	​	​	​	​	​
Dilutive stock options and awards	​	​	2,744	​	​	3,252	​	​	—
​	​	​	​	​	​	​	​	​	​
Weighted average shares used to compute diluted net income (loss) per share	​	​	217,657	​	​	215,635	​	​	204,580
​	​	​	​	​	​	​	​	​	​
Diluted net income (loss) per share	​	$	2.05	​	$	0.51	​	$	(1.53)

​

The following potential common shares were excluded from the calculation as their effect would be anti-dilutive:

​	​	​	​	​	​	​	​
​		2019		2018		2017
Outstanding stock options and awards		9,349,889		8,255,992		12,585,213
Common shares issuable upon conversion of the 2018 Notes		—		—		149,375
Common shares issuable upon conversion of the 2020 Notes		368,939		368,939		368,939
Total potential common shares excluded from diluted net income (loss) per share computation		9,718,828		8,624,931		13,103,527

​

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The entire disclosure for earnings per share.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-URI http://asc.fasb.org/topic&trid=2144383

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