EARNINGS (LOSS) PER COMMON SHARE (Tables)

12 Months Ended

Dec. 31, 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):


	Twelve Months Ended December 31,
	2023		2022		2021
Numerator:


Net income (loss)	$	167,645	$	141,561	$	(64,080)
Denominator:
Weighted-average common shares outstanding, basic	187,834		185,266		182,852
Effect of dilutive securities:
Common stock issuable under the Company's equity incentive plans	3,761		3,697		—

Weighted-average common shares outstanding, diluted	191,595		188,963		182,852
Earnings (loss) per common share, basic	$	0.89	$	0.76	$	(0.35)
Earnings (loss) per common share, diluted	$	0.87	$	0.75	$	(0.35)

Schedule of Anti-Dilutive Common Stock Excluded from Computation of Basic and Diluted Earnings (Loss) 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 (loss) per common share as they were anti-dilutive (in thousands):


	Twelve Months Ended December 31,
	2023	2022	2021
Common stock issuable under the Company's equity incentive plans	8,072	8,148	12,450
Common stock issuable under the Company’s convertible debt (1)	8,335	8,335	8,335
Total number of potentially issuable shares	16,407	16,483	20,785

(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 10 to these Consolidated Financial Statements.