Net Income (Loss) Per Common Share

12 Months Ended

Dec. 31, 2021

NOTE 15. Net Income (Loss) Per Common Share

Basic net income (loss) per common share (“EPS”) is computed based upon the weighted average number of common shares outstanding. Diluted net income (loss) per common share is computed based upon the weighted average number of common shares outstanding plus the impact of common shares issuable from the assumed conversion of stock options, certain performance restricted stock units and unvested restricted stock units. Only those instruments having a dilutive impact on basic loss per share are included in diluted loss per share during the periods presented.

The following table illustrates the computation of basic and diluted EPS (in thousands, except per share amounts):


	Year Ended December 31,
	2021			2020			2019
Numerator
Income (loss) from continuing operations	$	(405,484	)	$	(63,208	)	$	(114,455	)
Noncontrolling interests’ share in (earnings) loss from continuing operations		300			—			—
Net income (loss) attributable to common stockholders before discontinued operations		(405,184	)		(63,208	)		(114,455	)
Income (loss) from discontinued operations		(1,303	)		3,156			(168,285	)
Noncontrolling interests’ share in (earnings) loss from discontinued operations		—			—			152
Net income (loss) attributable to common stockholders	$	(406,487	)	$	(60,052	)	$	(282,588	)
Denominator
Weighted average shares outstanding, basic and diluted		372,931			323,462			294,738
Net income (loss) per share attributable to common stockholders
Net income (loss) per common share from continuing operations, basic and diluted	$	(1.09	)	$	(0.20	)	$	(0.39	)
Net income (loss) per common share from discontinued operations, basic and diluted	$	—		$	0.01		$	(0.57	)

Basic net income (loss) per share is the same as diluted net income (loss) per share for the years ended December 31, 2021, 2020, and 2019 as the inclusion of all potential common shares outstanding would have been anti-dilutive. The following table provides the potential shares of common stock that were excluded from the calculation of diluted net income (loss) per share attributable to common stockholders because their effect would have been anti-dilutive (in thousands):


	December 31,
	2021		2020		2019
Stock options - service only condition		17,201		23,646		23,080
Stock options - market and performance condition(1)		14,428		17,675		15,090
Restricted stock units		894		110		185

(1)

Market and performance conditions were satisfied during 2021.