Earnings (Loss) per Share (Tables)

6 Months Ended

Jun. 30, 2023

Earnings Per Share [Abstract]

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 of the following outstanding stock-based awards and shares associated with the conversion of the 2023 Notes in the calculation of diluted earnings (loss) per share, because their inclusion would be anti-dilutive:

	Three Months Ended June 30,		Six Months Ended June 30,
	2023	2022	2023	2022
	(unaudited)		(unaudited)
2023 Notes	74,549	—	—	—
Stock options, RSUs, PSUs	537,762	283,299	482,447	556,565

Schedule of computation of basic and diluted earnings per share

The following table sets forth the computation of basic and diluted net earnings (loss) per share for the three and six months ended June 30, 2023 and 2022 under the if-converted method (dollars in thousands, except share and per share amounts):

	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
	(unaudited)				(unaudited)
Numerator:
Net earnings (loss)	$	(831)	$	7,865	$	16,117	$	33,481
After-tax interest expense for 2023 Notes	—		888		892		1,775
Numerator for dilutive earnings per share	$	(831)	$	8,753	$	17,009	$	35,256
Denominator:
Weighted average shares outstanding, basic	54,502,993		53,426,163		54,442,463		53,378,319
Effect of dilutive securities:
Stock options, RSUs and SARs	—		1,187,060		1,181,983		1,239,439
Convertible notes	—		6,783,936		3,410,708		6,783,936
Weighted average shares outstanding, diluted	54,502,993		61,397,159		59,035,154		61,401,694
Earnings (loss) per share, basic	$	(0.02)	$	0.15	$	0.30	$	0.63
Earnings (loss) per share, diluted	$	(0.02)	$	0.14	$	0.29	$	0.57