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INCOME (LOSS) PER SHARE | 9 Months Ended
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Sep. 30, 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, 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 and nine months ended September 30, 2021 and 2020 (in thousands, except share amounts and per share amounts):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2021 |  | 2020 |  | 2021 |  | 2020
Basic and diluted net income (loss) per share: |  |  |  |  |  |  |
Numerator |  |  |  |  |  |  |
Income (loss) - continuing operations | $ | 78,701 |  |  | $ | (16,561) |  |  | $ | 90,020 |  |  | $ | (300,533) |
Less: Income (loss) attributable to noncontrolling interests | 594 |  |  | (291) |  |  | 737 |  |  | 1,758 |
Basic net income (loss) attributable to common stockholders - continuing operations | 78,107 |  |  | (16,270) |  |  | 89,283 |  |  | (302,291) |
Net income (loss) attributable to common stockholders - discontinued operations | — |  |  | — |  |  | — |  |  | 382 |
Basic net income (loss) attributable to common stockholders | $ | 78,107 |  |  | $ | (16,270) |  |  | $ | 89,283 |  |  | $ | (301,909) |
Diluted net income (loss) attributable to common stockholders - continuing operations | 78,107 |  |  | (16,270) |  |  | 89,283 |  |  | (302,291) |
Net income (loss) attributable to common stockholders - discontinued operations | — |  |  | — |  |  | — |  |  | 382 |
Diluted net income (loss) attributable to common stockholders | 78,107 |  |  | (16,270) |  |  | 89,283 |  |  | (301,909) |
Plus: Interest expense from assumed conversion of convertible senior notes | 700 |  |  | — |  |  | 1,392 |  |  | — |
Net income (loss) attributable to common stockholders plus assumed conversions | $ | 78,807 |  |  | $ | (16,270) |  |  | $ | 90,675 |  |  | $ | (301,909) |
Denominator |  |  |  |  |  |  |
Shares used in computation of basic net income (loss) per share | 29,567,802 |  |  | 28,751,520 |  |  | 29,282,932 |  |  | 28,535,393 |
Weighted-average effect of diluted securities |  |  |  |  |  |  |
Restricted stock units | 351,720 |  |  | — |  |  | 712,866 |  |  | — |
Performance share units and other stock-based compensation awards | 68,616 |  |  | — |  |  | 89,981 |  |  | — |
Convertible senior notes due 2026 | 3,376,400 |  |  | — |  |  | 2,308,112 |  |  | — |
Shares used in computation of diluted net income (loss) per share | 33,364,538 |  |  | 28,751,520 |  |  | 32,393,891 |  |  | 28,535,393 |
Basic net income (loss) per share: |  |  |  |  |  |  |
Continuing operations | $ | 2.64 |  |  | $ | (0.57) |  |  | $ | 3.05 |  |  | $ | (10.59) |
Discontinued operations | — |  |  | — |  |  | — |  |  | 0.01 |
Basic net income (loss) per share | $ | 2.64 |  |  | $ | (0.57) |  |  | $ | 3.05 |  |  | $ | (10.58) |
Diluted net income (loss) per share: |  |  |  |  |  |  |
Continuing operations | $ | 2.36 |  |  | $ | (0.57) |  |  | $ | 2.80 |  |  | $ | (10.59) |
Discontinued operations | — |  |  | — |  |  | — |  |  | 0.01 |
Diluted net income (loss) per share | $ | 2.36 |  |  | $ | (0.57) |  |  | $ | 2.80 |  |  | $ | (10.58) |
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 September 30, |  | Nine Months Ended September 30,
| 2021 |  | 2020 |  | 2021 |  | 2020
Restricted stock units | 854,304 |  |  | 1,907,396 |  |  | 410,856 |  |  | 1,879,752 |
Performance share units and other stock-based compensation awards | — |  |  | 151,110 |  |  | — |  |  | 199,849 |
Convertible senior notes due 2022 (1) | — |  |  | 2,314,815 |  |  | 1,144,689 |  |  | 2,314,815 |
Warrants | — |  |  | 2,314,815 |  |  | 1,170,126 |  |  | 2,314,815 |
Capped call transactions | 3,376,400 |  |  | — |  |  | 2,308,112 |  |  | — |
Total | 4,230,704 |  |  | 6,688,136 |  |  | 5,033,783 |  |  | 6,709,231 |
(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 is 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 income (loss) per share for those instruments for which it would reduce income (loss) per share. See Note 5, Financing Arrangements, for additional information. We had outstanding Market-based Performance Share Units as of September 30, 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 income (loss) 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 September 30, 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.

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