EARNINGS (LOSS) PER COMMON SHARE (Tables)

9 Months Ended

Sep. 30, 2023

Schedule of Computation of Basic and Diluted Earnings (Loss) Per Common Share

The following table sets forth the computation of basic and diluted earnings (loss) per common share (common shares in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Numerator:
Net Income (loss), basic	$	40,378	$	(6,652)	$	147,270	$	141,810
Add: Interest expense, net of tax, on the Company's convertible debt	—		—		2,810		2,806
Net Income (loss), diluted	$	40,378	$	(6,652)	$	150,080	$	144,616
Denominator:
Weighted-average common shares outstanding, basic	188,219		185,597		187,617		185,009
Effect of dilutive securities:
Issuances under equity incentive plans	2,954		—		3,455		3,273
Common stock issuable under the Company’s convertible debt(1)	—		—		3,970		3,970
Weighted-average common shares outstanding, diluted	191,173		185,597		195,042		192,252
Earnings (loss) per common share, basic	$	0.21	$	(0.04)	$	0.78	$	0.77
Earnings (loss) per common share, diluted	$	0.21	$	(0.04)	$	0.77	$	0.75

Schedule of Anti-Dilutive Common Stock Excluded from Computation of Diluted Earnings Per Share

In addition to the equity instruments included in the table above, the table below presents potential shares of common stock that were excluded from the computation of diluted earnings per common share as they were anti-dilutive (in thousands):


	Three Months Ended September 30,		Nine Months Ended September 30,
	2023	2022	2023	2022
Issuances under equity incentive plans	8,547	12,221	8,045	8,948
Common stock issuable under the Company’s convertible debt (1)	8,335	8,335	4,365	4,365
Total number of potentially issuable shares	16,882	20,556	12,410	13,313

(1) If converted, the Company would issue 4.0 million shares under the 2024 Notes and 4.4 million shares under the 2027 Notes. For additional discussion of our convertible debt, see Note 6 - Debt.