Net Income (Loss) per Share

3 Months Ended

Mar. 31, 2022

Earnings Per Share [Abstract]

Net Income (Loss) per Share

NOTE 3 – NET INCOME (LOSS) PER SHARE

The following table presents basic and diluted net income (loss) per share for the three months ended March 31, 2022 and 2021 (in thousands, except share and per share data):

	For the Three Months Ended March 31,
	2022		2021
Basic net income (loss) per share calculation:
Numerator - net income (loss)	$	204,261	$	(123,351	)
Denominator - weighted average of ordinary shares outstanding		229,094,311		223,920,768
Basic net income (loss) per share	$	0.89	$	(0.55	)
	For the Three Months Ended March 31,
	2022		2021
Diluted net income (loss) per share calculation:
Numerator - net income (loss)	$	204,261	$	(123,351	)
Denominator - weighted average of ordinary shares outstanding		235,953,318		223,920,768
Diluted net income (loss) per share	$	0.87	$	(0.55	)

Basic net income (loss) per share is computed by dividing net income (loss) by the weighted-average number of ordinary shares outstanding during the period. Diluted net income (loss) per share reflects the potential dilution that could occur if securities or other contracts to issue ordinary shares were exercised, converted into ordinary shares or resulted in the issuance of ordinary shares that would have shared in the Company’s earnings.

During the three months ended March 31, 2022, the difference between the basic and diluted weighted average ordinary shares outstanding primarily represents the effect of incremental shares from the Company’s share-based compensation programs.

The computation of diluted net income (loss) per share for the three months ended March 31, 2022 and 2021, excluded 3.0 million and 13.4 million shares, respectively, subject to equity awards because their inclusion would have had an anti-dilutive effect on diluted net income (loss) per share.