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Income (Loss) Per Share

12 Months Ended

Dec. 31, 2021

Income (Loss) Per Share

Income (Loss) Per Share

Note 2 — Income (Loss) Per Share

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Basic income (loss) per share is calculated by dividing net income (loss) by the weighted average number of shares outstanding during the period. Diluted income per share is calculated by dividing net income by the weighted average number of shares used to calculate basic income per share plus the weighted average number of common share equivalents outstanding during the period. The dilutive effect of outstanding options to purchase common stock and non-participating share-based awards is considered in diluted income per share by application of the treasury stock method. The dilutive effect of performance share units is included in diluted income per common share in the periods the performance targets have been achieved, or would have been achieved if the reporting date was the end of the contingency period. The Company has determined that it has the ability and intent to settle the principal amount of its convertible senior notes in cash, and the excess of the principal portion in shares of its common stock. As such, the Company accounts for the conversion spread using the treasury stock method, and the shares issuable upon conversion of the Notes are not included in the calculation of diluted earnings per share except to the extent that the conversion

value of the Notes exceeds their principal amount and if the effect would be dilutive.

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The computations of basic and diluted income (loss) per share for the years ended December 31, 2021, 2020, and 2019 are as follows:

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​	​	​	​	​	​	​	​	​	​	​
​	​	​	For the year ended December 31,
​			2021			2020			2019
​	​	​	(in thousands, except per share amounts)
Net income (loss)	​	​	$	26,038	​	$	(8,391)	​	$	(78,733)
Net income (loss) per common share:	​	​	​	​	​	​	​	​	​	​
Basic	​	​	$	0.53	​	$	(0.17)	​	$	(1.66)
Diluted	​	​	$	0.49	​	$	(0.17)	​	$	(1.66)
​	​	​	​	​	​	​	​	​	​	​
Basic weighted average shares outstanding	​	​		49,073	​		48,362	​		47,482
Effect of potentially dilutive share-based awards	​	​		1,090	​	​	—	​	​	—
Dilutive effect of convertible notes	​	​		3,480	​		—	​		—
Diluted weighted average shares outstanding	​	​		53,643	​		48,362	​		47,482
​	​	​	​	​	​	​	​	​	​	​
Common share equivalents excluded from the diluted weighted average shares outstanding since the Company incurred a net loss and their effect would be antidilutive	​	​	​	—	​	​	947	​	​	531
Potentially dilutive shares excluded from the diluted calculation as their effect would be antidilutive	​	​	​	456	​	​	923	​	​	1,689
Maximum potential shares to be issued for settlement of the 2023, 2025, and 2027 Notes excluded from the diluted calculation as their effect would be antidilutive due to a net loss or the fact that the conversion value of the Notes did not exceed their principal amount	​	​	​	8,421	​	​	17,753	​	​	8,618

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- References

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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
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=124432515&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
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=124432515&loc=d3e3630-109257

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