EARNINGS (LOSS) PER SHARE

12 Months Ended

Dec. 31, 2022

Basic earnings (loss) per share is computed by dividing net income (loss) by the weighted average number of shares outstanding during the period. For periods in which the Company reports net income, diluted net income per share is determined by using the weighted average number of common and dilutive common equivalent shares outstanding during the period unless the effect is antidilutive.

The calculations of shares used to compute basic and diluted earnings (loss) per share are as follows (in thousands):


	Year ended December 31,
	2022	2021	2020
Weighted average shares outstanding—basic	156,668	147,575	138,967
Potential dilutive common shares	—	—	5,683
Weighted average shares outstanding—diluted	156,668	147,575	144,650

Options to purchase the Company's common stock and unvested restricted and performance-based stock units aggregating 14.5 million shares and 10.6 million shares were excluded from the computation of diluted loss per share for the years ended December 31, 2022 and 2021, respectively, because their effect would have been antidilutive. Options to purchase the Company's common stock aggregating 0.2 million shares were excluded from the computation of diluted earnings per share for the year ended December 31, 2020 because their effect would have been antidilutive.