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Net Income (Loss) Per Share
 12 Months Ended
Dec. 31, 2018
Earnings Per Share [Abstract]  
Net Income (Loss) Per Share
Net Income (Loss) Per Share
The following table sets forth the calculation of basic and diluted net income (loss) per share:
 
Year Ended December 31,
 
2018
 
2017
 
2016
 
(In millions, except net income (loss) per share)
Numerator:
 
 
 
 
 
Net income (loss)
$
707

 
$
(512
)
 
$
52

Denominator:
 
 
 
 
 
Shares outstanding at the beginning of the period
59.3

 
55.8

 
55.1

Weighted-average number of shares issued:
 
 
 
 
 
Exchange of 1.625% Convertible Notes (1)
1.4

 
0.1

 
—

Conversion of 1.625% Convertible Notes (1)
0.2

 
—

 
—

Stock-based compensation
0.2

 
0.5

 
0.3

Denominator for basic net income (loss) per share
61.1

 
56.4

 
55.4

Effect of dilutive securities:
 
 
 
 
 
1.125% Warrants (1)
4.8

 
—

 
0.5

1.625% Convertible Notes (1)
0.4

 
—

 
—

Stock-based compensation
0.3

 
—

 
0.3

Denominator for diluted net income (loss) per share
66.6

 
56.4

 
56.2

 
 
 
 
 
 
Net income (loss) per share: (2)
 
 
 
 
 
Basic
$
11.57

 
$
(9.07
)
 
$
0.93

Diluted
$
10.61

 
$
(9.07
)
 
$
0.92

 
 
 
 
 
 
Potentially dilutive common shares excluded from calculations: (1)
 
 
 
 
 
1.125% Warrants (1)
—

 
1.9

 
—

1.625% Convertible Notes (1)
—

 
0.4

 
—

Stock-based compensation
—

 
0.3

 
—

_______________________________ 
(1)
For more information regarding the 1.625% Convertible Notes, refer to Note 11, “Debt.” For more information and definitions regarding the 1.125% Warrants, refer to Note 14, “Stockholders' Equity.” The dilutive effect of all potentially dilutive common shares is calculated using the treasury stock method. Certain potentially dilutive common shares issuable are not included in the computation of diluted net income (loss) per share because to do so would have been anti-dilutive.
(2)
Source data for calculations in thousands.