Earnings Per Share

3 Months Ended

Mar. 31, 2020

The following table presents the reconciliation of the numerator and denominator for calculating net income (loss) per share:


	First Quarter
(In thousands, except per share data)	2020		2019
Numerator
Net income (loss) - basic and diluted	$	(12,148)	$	1,282

Denominator
Weighted average common shares outstanding - basic	89,645		90,111
Dilutive effect of stock options and restricted stock awards	—		2,267
Dilutive effect of Convertible Notes	—		—
Weighted average common shares outstanding - diluted	89,645		92,378

Net income (loss) per common share
Basic	$	(0.14)	$	0.01
Diluted	$	(0.14)	$	0.01

We excluded the following weighted-average potential shares from the calculations of diluted net income (loss) per share during the applicable periods because their inclusion would have been anti-dilutive:


	First Quarter
(In thousands)	2020	2019
Stock options and restricted stock awards	4,835	1,712

For the first quarter of 2020, we excluded all potentially dilutive stock options and restricted stock awards in calculating diluted earnings per share as the effect was anti-dilutive due to the net loss incurred for this period. The Convertible Notes (as defined in Note 6) only impact the calculation of diluted net income per share in periods that the average price of our common stock, as calculated in accordance with the terms of the indenture governing the Convertible Notes, exceeds the conversion price of $9.33 per share. We have the option to pay cash, issue shares of common stock, or any combination thereof for the aggregate amount due upon conversion of the Convertible Notes as further described in Note 6. If converted, we currently intend to settle the principal amount of the notes in cash and as a result, only the amounts payable in excess of the principal amount of the notes, if any, would be assumed to be settled with shares of common stock for purposes of computing diluted net income per share.