Earnings per Share (Tables)

12 Months Ended

Dec. 31, 2019

Schedule of common stock equivalents excluded in the calculation of diluted earnings per share

In addition to the above described effect of the 2023 Notes and the related Convertible Note Hedge and Warrant Transactions, the Company also excluded the common stock equivalents for outstanding stock-based awards in the calculation of diluted EPS, because their inclusion would be anti-dilutive.



	Years Ended December 31,
	2019	2018	2017
Stock options	1,145,446	199,982	40,009

Schedule of computation of basic and diluted net earnings per share

The following table sets forth the computation of basic and diluted net earnings per share for the years ended December 31, 2019, 2018 and 2017:



	Years Ended December 31,
	2019		2018		2017
Numerator, dollars in thousands:
Net earnings	$	113,056	$	110,993	$	57,284
Adjustments:
Interest expense on Convertible Senior Secured Notes due 2019	—		—		134
Changes in fair value of derivative liabilities	—		—		(76		)
Loss on extinguishment of debt	—		—		295
Loss on extinguishment of outstanding debt, as if converted	—		—		(321		)
Total adjustments	—		—		32
Net earnings used for calculation of diluted EPS	$	113,056	$	110,993	$	57,316

Denominator:
Weighted average shares outstanding, basic	52,412,181		51,989,824		50,756,603
Effect of dilutive securities:
Shares underlying Convertible Senior Secured Notes due 2019	—		—		285,257
Shares issuable to settle interest make-whole derivatives	—		—		7,012
Stock options and SAR	1,404,573		2,109,048		2,252,278
Total dilutive potential common shares	1,404,573		2,109,048		2,544,547
Weighted average shares outstanding, diluted	53,816,754		54,098,872		53,301,150

Earnings per share, basic	$	2.16	$	2.13	1.13
Earnings per share, diluted	$	2.10	$	2.05	1.08