Net Income (Loss) Per Share

9 Months Ended

Sep. 30, 2020

Net income (loss) per share

Basic net income (loss) per share is computed by dividing net income (loss) by the weighted average number of common shares outstanding during the period. Diluted net income (loss) per share is computed by dividing net income (loss) by the weighted average number of common shares and dilutive potential common shares outstanding during the period. Dilutive potential common shares include incremental common shares issuable upon the vesting of unvested restricted stock units and the exercise of outstanding stock options, calculated using the treasury stock method.


	Three Months Ended September 30,				Nine Months Ended September 30,
(dollars in thousands, except per share amounts)	2020		2019		2020		2019
Net income (loss)	$	636,167	$	(91,913)	$	446,575	$	(184,480)

Shares used in computation of per share amounts - basic	174,460		168,109		173,409		163,428
Dilutive potential common shares	7,417		—		7,530		—
Weighted average common shares outstanding - diluted	181,877		168,109		180,939		163,428

Net income (loss) per share - basic	$	3.65	$	(0.55)	$	2.58	$	(1.13)
Net income (loss) per share - diluted	$	3.50	$	(0.55)	$	2.47	$	(1.13)

Potential shares of common stock excluded from the computation of diluted net income (loss) per share because their effect would have been antidilutive totaled approximately 437,000 and 12,618,000 for the three months ended September 30, 2020 and 2019, respectively, and approximately 310,000 and 12,758,000 for the nine months ended September 30, 2020 and 2019, respectively.