Net Income (Loss) Per Share (Tables)

6 Months Ended

Jun. 30, 2021

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

The following table shows the calculations (in thousands, except net income (loss) per share amounts):

	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
Adjustment to net income (loss) for convertible notes in diluted EPS (1)
NET INCOME (LOSS)	$	75,873	$	(6,824)	$	53,759	$	(13,802)
Convertible note accretion, amortization, and interest, net of tax	1,552		—		2,997		—
NET INCOME (LOSS) USED IN DILUTED EPS	77,425		(6,824)		56,756		(13,802)
Basic weighted average shares outstanding	118,287		107,887		117,249		106,209
Dilutive effect of stock options	2,027		—		2,221		—
Dilutive effect of restricted stock awards	170		—		196		—
Dilutive effect of Convertible Notes due 2025	5,538		—		5,538		—
Dilutive effect of Convertible Notes due 2028	5,215		—		5,043		—
Diluted weighted average shares outstanding	131,237		107,887		130,247		106,209
Basic net income (loss) per share	$	0.64	$	(0.06)	$	0.46	$	(0.13)
Diluted net income (loss) per share	$	0.59	$	(0.06)	$	0.44	$	(0.13)

(1) This adjustment compensates for the effects of the if-converted impact of convertible notes in adjusted net income. Since an entity using the if-converted method assumes that a convertible debt instrument was converted into common shares at the beginning of the reporting period, net income (loss) is adjusted to reverse any recognized interest expense (including any amortization of discounts).

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

The following potential dilutive shares were excluded from the calculation of diluted net income (loss) per share because their effect would be anti-dilutive (in thousands):

	Three Months Ended June 30,		Six Months Ended June 30,
	2021	2020	2021	2020
Stock options	—	2,871	—	2,944
Restricted stock awards	—	281	—	237
2025 Convertible Notes	—	3,773	—	1,887
2028 Convertible Notes	—	—	—	—