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INCOME (LOSS) PER SHARE
 3 Months Ended
Mar. 31, 2021
Earnings Per Share [Abstract]  
INCOME (LOSS) PER SHARE INCOME (LOSS) PER SHARE Basic net income (loss) per share is computed using the weighted-average number of common shares outstanding during the period. Diluted net income (loss) per share is computed using the weighted-average number of common shares and the effect of potentially dilutive securities outstanding during the period. Potentially dilutive securities include stock options, restricted stock units, performance share units, performance bonus awards, ESPP shares, warrants and convertible senior notes. If dilutive, those potentially dilutive securities are reflected in diluted net income (loss) per share using the treasury stock method, except for the convertible senior
notes, which are subject to the if-converted method.
The following table sets forth the computation of basic and diluted net income (loss) per share of common stock for the three months ended March 31, 2021 and 2020 (in thousands, except share amounts and per share amounts):
Three Months Ended March 31,
20212020
Basic and diluted net income (loss) per share:
Numerator
Net income (loss) - continuing operations$14,448 $(210,860)
Less: Net income (loss) attributable to noncontrolling interests(110)3,044 
Basic net income (loss) attributable to common stockholders - continuing operations14,558 (213,904)
Net income (loss) attributable to common stockholders - discontinued operations— 382 
Basic net income (loss) attributable to common stockholders$14,558 $(213,522)
Add: Effect of assumed conversion of convertible senior notes due 2026, net of tax (1)
$72 $— 
Diluted net income (loss) attributable to common stockholders - continuing operations14,630 (213,904)
Net income (loss) attributable to common stockholders - discontinued operations— 382 
Diluted net income (loss) attributable to common stockholders$14,630 $(213,522)
Denominator
Shares used in computation of basic net income (loss) per share29,028,489 28,365,216 
Weighted-average effect of diluted securities
Restricted stock units
931,922 — 
Performance share units and other stock-based compensation awards
109,419 — 
Convertible senior notes due 2026 (1)
195,733 — 
Shares used in computation of diluted net income (loss) per share30,265,563 28,365,216 
Basic net income (loss) per share:
Continuing operations$0.50 $(7.54)
Discontinued operations— 0.01 
Basic net income (loss) per share$0.50 $(7.53)
Diluted net income (loss) per share:
Continuing operations$0.48 $(7.54)
Discontinued operations— 0.01 
Diluted net income (loss) per share $0.48 $(7.53)
(1)We apply the if-converted method in computing the effect of our convertible senior notes on diluted net income (loss) per share, whereby the numerator of our diluted net income (loss) per share computations are adjusted for interest expense, net of tax, and the denominator is adjusted for the number shares into which the convertible senior notes could be converted. The effect is only included in the calculation of earnings per share for those instruments for which it would reduce earnings per share. Beginning January 1, 2021, the interest expense, net of tax, included in the numerator adjustment is calculated in accordance with ASU 2020-06, while prior period interest expense, net of tax, included in the numerator adjustment continues to be calculated in accordance with the historical policies and remains unchanged. See Note 5, Financing Arrangements, for additional information.
The following weighted-average potentially dilutive instruments are not included in the diluted net income (loss) per share calculations above because they would have had an antidilutive effect on the net income (loss) per share from continuing operations:
Three Months Ended March 31,
20212020
Restricted stock units172,015 1,657,810 
Performance share units and other stock-based compensation awards— 279,243 
Convertible senior notes due 2022 (1)
2,314,815 2,314,815 
Warrants2,314,815 2,314,815 
Capped call transactions195,733 — 
Total4,997,378 6,566,683 
(1)We apply the if-converted method in computing the effect of our convertible senior notes on diluted net income (loss) per share, whereby the numerator of our diluted net income (loss) per share computations are adjusted for interest expense, net of tax, and the denominator is adjusted for the number shares into which the convertible senior notes could be converted. The effect is only included in the calculation of earnings per share for those instruments for which it would reduce earnings per share. See Note 5, Financing Arrangements, for additional information.
We had outstanding Market-based Performance share units as of March 31, 2021 and 2020 that were eligible to vest into shares of common stock subject to the achievement of specified performance or market conditions. Contingently issuable shares are excluded from the computation of diluted earnings per share if, based on current period results, the shares would not be issuable if the end of the reporting period were the end of the contingency period. As of March 31, 2021, there were up to 57,668 shares of common stock issuable upon vesting of outstanding Market-based Performance Share Units that were excluded from the table above as the performance or market conditions were not satisfied as of the end of the period.