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Earnings (Loss) Per Share
 6 Months Ended
Jun. 30, 2021
Earnings Per Share [Abstract]  
Earnings (Loss) Per Share

NOTE 8. Earnings (Loss) Per Share

 

Basic earnings (loss) per share is calculated by dividing Net income (loss) by the weighted-average number of shares of common stock outstanding. Diluted earnings (loss) per share is similarly calculated, except that the calculation includes the dilutive effect of the assumed issuance of shares under stock-based compensation plans, unless the inclusion of such shares would have an anti-dilutive effect. The computation of Earnings (loss) per share is as follows (in thousands, except per share data):

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2021

 

 

2020

 

 

2021

 

 

2020

 

Net income (loss)

 

$

5,966

 

 

$

(24,644

)

 

$

11,244

 

 

$

(812,078

)

Basic weighted-average common shares outstanding

 

 

68,869

 

 

 

67,256

 

 

 

68,328

 

 

 

67,095

 

Effect of dilutive stock-based compensation awards (1)

 

 

1,825

 

 

 

—

 

 

 

2,462

 

 

 

—

 

Diluted weighted-average common shares outstanding

 

 

70,694

 

 

 

67,256

 

 

 

70,790

 

 

 

67,095

 

Earnings (loss) per share, basic

 

$

0.09

 

 

$

(0.37

)

 

$

0.16

 

 

$

(12.10

)

Earnings (loss) per share, diluted

 

 

0.08

 

 

 

(0.37

)

 

 

0.16

 

 

 

(12.10

)

 

(1)
There were 1,316 and 1,829 potential common shares excluded from diluted weighted-average common shares outstanding for the three months ended June 30, 2021 and June 30, 2020, respectively, and 1,362 and 4,885 potential common shares for the six months ended June 30, 2021 and June 30, 2020, respectively, as their inclusion would have had an anti-dilutive effect.