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NET INCOME (LOSS) PER COMMON SHARE
 12 Months Ended
Dec. 31, 2021
Earnings Per Share [Abstract]  
NET INCOME (LOSS) PER COMMON SHARE NET INCOME (LOSS) PER COMMON SHARE
Potentially issuable shares of common stock include shares issuable upon the exercise of outstanding employee stock option awards, common stock issuable under the Company’s ESPP, unvested RSUs, the Company's common stock held by the NQDC and contingent issuances of common stock related to the Company's convertible debt.
The following table sets forth the computation of basic and diluted income (loss) per common share (common shares in thousands):
Years Ended December 31,
202120202019
Numerator:
Net income (loss), basic$(64,080)$859,100 $(23,848)
Add: Interest on convertible notes— 8,313 — 
Net income (loss), diluted$(64,080)$867,413 $(23,848)
Denominator:
Weighted-average common shares outstanding, basic182,852 180,804 179,039 
Effect of dilutive securities:
Options to purchase common stock— 1,543 — 
Common stock issuable under the 2027 notes— 2,874 — 
Common stock issuable under the 2024 notes— 3,970 — 
Unvested RSUs— 1,938 — 
Common stock potentially issuable for ESPP purchases— 353 — 
The Company's common stock held by the NQDC— 196 — 
Weighted-average common shares outstanding, diluted182,852 191,678 179,039 
Net income (loss) per common share, basic$(0.35)$4.75 $(0.13)
Net income (loss) per common share, diluted$(0.35)$4.53 $(0.13)
In addition to the equity instruments included in the table above, the table below presents potential shares of common stock that were excluded from the computation of basic and diluted income (loss) per common share as they were anti-dilutive (in thousands):
Years Ended December 31,
202120202019
Options to purchase common stock6,450 5,287 7,264 
Common stock issuable under the 2027 Notes4,365 — — 
Common stock issuable under the 2024 Notes3,970 — 3,970 
Common stock issuable under the 2020 Notes— — 3,983 
Unvested RSUs5,225 2,235 3,956 
Common stock potentially issuable for ESPP purchases594 314 587 
The Company's common stock held by the NQDC181 — 205 
Total number of potentially issuable shares20,785 7,836 19,965 
The 1.50% senior subordinated convertible notes that matured on October 15, 2020 (the 2020 Notes) were settled in cash for approximately $375.0 million. The potential effect of the capped call transactions with respect to the 2020 Notes was excluded from the diluted net income (loss) per share as the Company’s closing stock price on December 31, 2019 did not exceed the conversion price of $94.15 per share for the 2020 Notes. There is no similar capped call transaction associated with the 2024 Notes or 2027 Notes. See Note 10 to these Consolidated Financial Statements for information on the Company’s convertible debt.