Income (Loss) Per Share

12 Months Ended

Dec. 31, 2019

Income (Loss) Per Share

Income (Loss) Per Share

Note 2 — Income (Loss) Per Share

Basic income (loss) per share is calculated by dividing net income (loss) by the weighted average number of shares outstanding during the period. Diluted income per share is calculated by dividing net income by the weighted average number of shares used to calculate basic income per share plus the weighted average number of common share equivalents outstanding during the period. The dilutive effect of outstanding options to purchase common stock and non-participating share-based awards is considered in diluted income per share by application of the treasury stock method. The dilutive effect of performance share units is included in diluted income per common share in the periods the performance targets have been achieved.

The computations of basic and diluted income (loss) per share for the years ended December 31, 2019, 2018, and 2017 are as follows:

	For the year ended December 31,
	2019		2018		2017
	(in thousands, except per share amounts)
Net income (loss)	$	(78,733)	$	(407,088)	$	(51,396)
Net income (loss) per common share:
Basic	$	(1.66)	$	(8.63)	$	(1.16)
Diluted	$	(1.66)	$	(8.63)	$	(1.16)
Basic weighted average shares outstanding		47,482		47,151		44,174
Effect of potentially dilutive share-based awards		—		—		—
Diluted weighted average shares outstanding		47,482		47,151		44,174
Common share equivalents excluded from the diluted weighted average shares outstanding since the Company incurred a net loss and their effect would be antidilutive		531		28		239
Potentially dilutive shares excluded from the diluted calculation as their effect would be antidilutive		1,689		2,474		1,744
Maximum potential shares to be issued for settlement of the Convertible Senior Notes excluded from the diluted calculation as their effect would be antidilutive		8,618		8,618		8,618