Income (Loss) Per Share (Tables)

12 Months Ended

Dec. 31, 2021

Schedule of Computation of Basic and Diluted Earnings per Share

The following table sets forth the computation of basic and diluted income (loss) per share (in thousands, except per share amounts):


	Year Ended December 31,
	2021		2020		2019
Net income (loss)	$	(81,297)	$	(409,086)	$	40,809
Less: Undistributed income allocated to participating securities (1)	—		—		438
Net income (loss) attributable to common stockholders	(81,297)		(409,086)		40,371
Plus: Net income effect of convertible securities	—		—		—
Numerator for diluted income (loss) per common share	$	(81,297)	$	(409,086)	$	40,371

Basic weighted-average common stock shares outstanding	58,268		53,295		50,352
Plus: dilutive effects of common stock equivalents (2)	—		—		118
Diluted weighted-average common stock shares outstanding	58,268		53,295		50,470

Basic income (loss) per common share	$	(1.40)	$	(7.68)	$	0.80
Diluted income (loss) per common share	$	(1.40)	$	(7.68)	$	0.80

Diluted income (loss) per common share excludes the following equity instruments because their effect would be anti-dilutive:
Shares of unvested restricted stock	925		475		182
Shares of stock options	2,386		2,229		1,577
Common stock equivalents using the if-converted method of settling the 5.00% Convertible Senior Notes	1,230		2,704		5,122

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(1)Participating securities include restricted stock that has been issued but had not yet vested. These participating securities were fully vested as of December 31, 2019.

(2)Entities with a net loss from continuing operations are prohibited from including potential common shares in the computation of diluted per share amounts. We have utilized the basic shares outstanding to calculate both basic and diluted loss per common share for the years ended December 31, 2021 and 2020.