Earnings per Share

6 Months Ended

Jun. 30, 2020

The following represents a reconciliation from basic income (loss) per share to diluted income (loss) per share:


	Three Months Ended June 30,						Six Months Ended June 30,
(In thousands, except per share amounts)	2020		2019		2020		2019
Numerator
Net income (loss)	$	(182,895)	$	(17,349)	$	(772,576)	$	5,128
Denominator
Weighted average common shares outstanding Class A, B and C	454,121		451,066		453,496		450,411
Effect of dilutive securities Class A, B, and C	—		—		—		3,306
Weighted average common shares and dilutive securities outstanding Class A, B, and C	454,121		451,066		453,496		453,717

Basic net income (loss) per share of Class A, B and C common stock	$	(0.40)	$	(0.04)	$	(1.70)	$	0.01
Diluted net income (loss) per share of Class A, B and C common stock	$	(0.40)	$	(0.04)	$	(1.70)	$	0.01

Effects of potentially dilutive securities are presented only in periods in which they are dilutive. Due to the Company being in a net loss position for the three and six months months ended June 30, 2020, and the three months ended June 30, 2019, there were no warrants, stock options, or restricted stock units included in the computation of diluted earnings per share, as their effect would have been anti-dilutive. In addition, due to the Company being in a net loss position for the three and six months ended June 30, 2020, there was no conversion option on the Convertible Senior Notes included in the computation of diluted earnings per share, as their effect would have been anti-dilutive. Stock options and restricted stock units representing 2.5 million shares of Class A and C common stock outstanding for the six months ended June 30, 2019 were excluded from the computation of diluted earnings per share because their effect would have been anti-dilutive.