Earnings (Loss) per Share

12 Months Ended

Dec. 31, 2021

Basic earnings (loss) per common share is computed by dividing net income applicable to common stockholders by the daily weighted-average number of common shares outstanding for the applicable period. Diluted earnings (loss) per common share is computed in a similar manner, except that the weighted average number of shares outstanding is increased to reflect the potential dilution from the exercise or conversion of securities into common stock. Diluted earnings (loss) per share contemplates a complete conversion to common shares of all convertible instruments only if such instruments are dilutive in nature with respect to earnings per common share. The following table sets forth the computation for basic and diluted earnings (loss) per common share:


	Years Ended December 31,
	2021		2020		2019
Net income (loss)	$	46,289	$	56,201	$	(2,027)

Weighted average common shares outstanding	169,226		166,066		162,574
Dilutive effects of stock options and share-based awards issuable under equity compensation plans	5,507		4,089		—
Weighted average dilutive common shares outstanding	174,733		170,155		162,574

Earnings (loss) per common share
Basic	$	0.27	$	0.34	$	(0.01)
Diluted	$	0.26	$	0.33	$	(0.01)

Anti-dilutive common stock equivalents 1	2,224		7,092		17,103

1 These common stock equivalents were outstanding for the period but were not included in the computation of diluted earnings (loss) per common share for those periods as their inclusion would have had an anti-dilutive effect.