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Income (Loss) Per Share
12 Months Ended
Dec. 31, 2019
Earnings Per Share [Abstract]  
Income (loss) per Share Income (Loss) Per Share
Basic income (loss) per share is computed by dividing net income (loss) attributable to common stockholders by the sum of the weighted-average number of common shares outstanding and the weighted-average number of shares issuable under the common stock warrants, representing 354 thousand shares for each of the years ended December 31, 2019, 2018, and 2017. The common stock warrants are included in the calculation of basic income (loss) per share because they are issuable for minimal consideration. The following table sets forth the computation of basic and diluted income per share (in thousands, except per share amounts):
 
Year Ended December 31,
 
2019
 
2018
 
2017
Net Income
$
40,809

 
$
39,427

 
$
72,621

Less: Undistributed income allocated to participating securities (1)
438

 
556

 
878

Net income attributable to common stockholders
40,371

 
38,871

 
71,743

Plus: Net income effect of convertible securities

 

 

Numerator for diluted income per common share
$
40,371

 
$
38,871

 
$
71,743

 

 

 
 
Basic weighted-average common stock shares outstanding
50,352

 
45,726

 
45,543

Plus: dilutive effects of common stock equivalents
118

 
29

 
40

Diluted weighted-average common stock shares outstanding
50,470

 
45,755

 
45,583

 
 
 
 
 
 
Basic income per common share
$
0.80

 
$
0.85

 
$
1.58

Diluted income per common share
$
0.80

 
$
0.85

 
$
1.57

________________________________________________________
(1)
Participating securities includes restricted stock that has been issued but has not yet vested.
For the year ended December 31, 2019, our calculation of diluted shares outstanding excluded 182 thousand shares of unvested restricted stock and 1.6 million stock options. For the year ended December 31, 2018, our calculation of diluted shares outstanding excluded 68 thousand shares of unvested restricted stock and 1.3 million stock options. For the year ended December 31, 2017, our calculation of diluted shares outstanding excluded 65 thousand shares of unvested restricted stock and 1.3 million stock options.
As discussed in Note 12—Debt, we have the option of settling the 5.00% Convertible Senior Notes in cash or shares of common stock, or any combination thereof, upon conversion. For the years ended December 31, 2019, 2018, and 2017, diluted income per share was determined using the if-converted method. Our calculation of diluted shares outstanding for years ended December 31, 2019, 2018, and 2017 excluded 5.1 million, 6.4 million, and 6.4 million common stock equivalents, respectively, as the effect would be anti-dilutive.