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Note 16 - Weighted Average Shares Outstanding and Net Income (Loss) Per Share

9 Months Ended

Sep. 30, 2020

Notes to Financial Statements

Earnings Per Share [Text Block]

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NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS - CONTINUED

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16.  Weighted Average Shares Outstanding and Net Income (Loss) Per Share

The following table presents a reconciliation of the weighted average shares outstanding used in calculating basic and diluted net income (loss) per share as well as the calculation of basic and diluted net income (loss) per share:

		Three Months Ended September 30,								Nine Months Ended September 30,
						As Restated								As Restated
(in thousands, except per share amounts)		2020				2019				2020				2019
Numerator (basic and diluted)
Net income (loss) allocated to common shareholders for basic calculation		$	(91,162	)		$	45,901			$	(153,127	)		$	(40,811	)
Denominator
Weighted average common shares outstanding, basic			45,654				46,788				45,598				46,771
Dilutive effect of RSUs and 2.75% Convertible Notes (1),(2)			—				382				—				—
Weighted average common shares outstanding, diluted			45,654				47,170				45,598				46,771
Net income (loss) per share, basic		$	(2.00	)		$	0.98			$	(3.36	)		$	(0.87	)
Net income (loss) per share, diluted		$	(2.00	)		$	0.97			$	(3.36	)		$	(0.87	)

(1) Due to the net losses, RSUs representing approximately 636,000, 580,000 and 393,000 for the three and nine months ended September 30, 2020 and nine months ended September 30, 2019, respectively, have been excluded from the number of shares used in calculating diluted net loss per share, as their inclusion would be antidilutive. 

(2) As the average price of our common stock was below $31.47 per share since the issuance date of the 2.75% Convertible Notes, the number of shares used in calculating diluted net income (loss) per share for the three and nine months ended September 30, 2020 excluded the potential dilution from the 2.75% Convertible Notes converting into shares of common stock.

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- Definition

The entire disclosure for earnings per share.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109243012&loc=SL65017193-207537

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
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-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-URI http://asc.fasb.org/topic&trid=2144383

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
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-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3630-109257

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