Net Income (Loss) Per Common Share

9 Months Ended

Sep. 30, 2022

NOTE 11. 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):


	Three Months Ended September 30,						Nine Months Ended September 30,
	2022			2021			2022			2021
Numerator
Income (loss) from continuing operations	$	(30,503	)	$	(36,993	)	$	(50,815	)	$	(348,058	)
Noncontrolling interests’ share in (earnings) loss from continuing operations		71			115			228			284
Net income (loss) attributable to common stockholders before discontinued operations		(30,432	)		(36,878	)		(50,587	)		(347,774	)
Income (loss) from discontinued operations		(236	)		1,035			500			(1,992	)
Net income (loss) attributable to common stockholders	$	(30,668	)	$	(35,843	)	$	(50,087	)	$	(349,766	)
Denominator
Weighted average shares outstanding, basic and diluted		411,065			391,229			406,823			365,018
Net income (loss) per share attributable to common stockholders
Net income (loss) per common share from continuing operations, basic and diluted	$	(0.07	)	$	(0.09	)	$	(0.12	)	$	(0.95	)
Net income (loss) per common share from discontinued operations, basic and diluted	$	—		$	—		$	—		$	(0.01	)

Basic net income (loss) per share is the same as diluted net income (loss) per share for each period presented, as the inclusion of all potential common shares outstanding would have been antidilutive. The following table provides the weighted-average 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):


	Nine Months Ended September 30,
	2022		2021
Stock options - service only condition		9,883		23,877
Equity awards - market and/or performance condition		10,591		16,575
Restricted stock units		1,908		885