Earnings Per Share (Tables)

6 Months Ended

Jun. 30, 2017

Schedule of Earnings Per Share, Basic and Diluted

A reconciliation of the earnings per share data from a basic to a fully diluted basis is detailed below (amounts in thousands, except per share data):



	Three Months Ended June 30,				Six Months Ended June 30,
	2017		2016		2017		2016
Net income	$	2,537	$	61,993	$	43,564	$	103,879
Convertible debt income adjustments, net of tax	—		443		—		1,047
Net income adjusted for convertible debt as used for diluted earnings per share	$	2,537	$	62,436	$	43,564	$	104,926
Net income per share:
Basic	$	0.02	$	0.51	$	0.35	$	0.86
Diluted (1)	$	0.02	$	0.50	$	0.35	$	0.83
Shares used in computing net income per share:
Weighted average basic shares outstanding	124,660		121,374		124,541		120,401
Dilutive securities:
Stock option and unvested RSUs	534		1,365		314		1,474
Shares issuable upon conversion of the notes	—		3,185		—		4,059
Total dilutive securities	534		4,550		314		5,533
Weighted average diluted shares outstanding	125,194		125,924		124,855		125,934

Shares subject to stock options omitted from the calculation of income per share as their effect would have been anti-dilutive	2,268		2,430		3,991		2,740

(1)

As a result of the Company's expectation that it would likely settle all future note conversions in shares of the Company's common stock, the diluted income from continuing operations per share calculation for the periods prior to the complete conversion of the convertible debt on June 1, 2016, included the dilutive effect of convertible debt and was offset by the exclusion of interest expense and deferred financing fees related to the convertible debt of $0.4 million and $1.0 million, after-tax for the three and six month periods ended June 30, 2016.