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Net Income (Loss) Per Share
 12 Months Ended
Dec. 31, 2019
Earnings Per Share [Abstract]  
Net Income (Loss) Per Share NET INCOME (LOSS) PER SHARE
Basic net income (loss) per share is presented in conformity with the two-class method required for participating securities. Participating securities include restricted stock units.
Under the two-class method, net income is reduced for distributed and undistributed dividends earned in the current period. The remaining earnings are then allocated to Common Stock and the participating securities. The Company calculates the effects of participating securities on diluted earnings per share (EPS) using both the “if-converted or treasury stock” and "two-class" methods and discloses the method which results in a more dilutive effect. The effects of Common Stock options, warrants, stock appreciation rights and convertible notes on diluted EPS are calculated using the treasury stock method unless the effects are anti-dilutive to EPS.
For the 2036 Convertible Senior Notes, the Company's current intent is to settle conversions using cash for the principal amount of convertible senior notes converted, with the remaining value satisfied at the Company's option in cash, stock or a combination of cash and stock. For the 2019 Convertible Senior Notes, the Company has elected to settle the principal amount of convertible notes converted with cash and any conversion value in excess of that amount in shares of the Company's common stock. Therefore, the dilutive effect of the convertible senior notes is limited to the conversion premium.
The following potentially dilutive weighted average securities were excluded from the calculation of diluted net income (loss) per share attributable to common stockholders during the periods presented, as the effect was anti-dilutive:
 
Year Ended December 31,
 
2019
 
2018
 
2017
Stock appreciation rights
—

 
—

 
622,633

2019 Convertible Senior Notes
—

 
—

 
5,567,112

2036 Convertible Senior Notes
—

 
—

 
14,106,725

Total
—

 
—

 
20,296,470


The following table presents the calculation of diluted net income (loss) from continuing operations per share:
 
2019
 
2018
 
2017
Net income (loss) from continuing operations available to common stockholders - Basic
$
381,112

 
$
295,804

 
$
(66,279
)
Plus (less): effect of participating securities
8,619

 
7,824

 
—

Net income (loss) available to common stockholders
389,731

 
303,628

 
(66,279
)
Less: effect of participating securities
(8,619
)
 
(7,824
)
 
—

Net income (loss) from continuing operations available to common stockholders - Diluted
$
381,112

 
$
295,804

 
$
(66,279
)
 
 
 
 
 
 
Net loss from discontinued operations available to common stockholders - Basic
$
(9,667
)
 
$
(11,312
)
 
$
(12,800
)
Plus (less): effect of participating securities
—

 
—

 
—

Net loss available to common stockholders
(9,667
)
 
(11,312
)
 
(12,800
)
Less: effect of participating securities
—

 
—

 
—

Net loss from discontinued operations available to common stockholders - Diluted
$
(9,667
)
 
$
(11,312
)
 
$
(12,800
)
 
 
 
 
 
 
Net income (loss) available to common stockholders - Basic
$
371,659

 
$
284,783

 
$
(79,079
)
Plus (less): effect of participating securities
8,405

 
7,533

 
—

Net income (loss) available to common stockholders
380,064

 
292,316

 
(79,079
)
Less: effect of participating securities
(8,405
)
 
(7,533
)
 
—

Net income (loss) available to common stockholders - Diluted
$
371,659

 
$
284,783

 
$
(79,079
)
 
 
 
 
 
 
Net income (loss) available to common stockholders - Diluted
 
 
 
 
 
Weighted-average shares used to compute basic net income (loss) per share
38,288,610

 
37,687,552

 
38,731,015

Adjustment to reflect conversion of convertible notes
3,589,065

 
5,416,043

 
—

Adjustment to reflect stock appreciation right conversions
443,305

 
550,125

 
—

Weighted-average shares used to compute diluted net income (loss) per share
42,320,980

 
43,653,720

 
38,731,015

Net income (loss) per share available to common stockholders - Diluted
 
 
 
 
 
Continuing operations
$
9.01

 
$
6.78

 
$
(1.71
)
Discontinued operations
$
(0.25
)
 
$
(0.30
)
 
$
(0.33
)
Diluted net income (loss)
$
8.78

 
$
6.52

 
$
(2.04
)