Income (Loss) Per Share (Tables)

12 Months Ended

Dec. 31, 2023

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,
	2023		2022		2021
Net income (loss)	$	728,642	$	364,189	$	(81,297)


Plus: Net income effect of convertible securities	—		—		—
Numerator for diluted income (loss) per common share	$	728,642	$	364,189	$	(81,297)

Basic weighted-average common stock shares outstanding	60,035		59,544		58,268
Plus: dilutive effects of common stock equivalents (1)	979		339		—
Diluted weighted-average common stock shares outstanding	61,014		59,883		58,268

Basic income (loss) per common share	$	12.14	$	6.12	$	(1.40)
Diluted income (loss) per common share	$	11.94	$	6.08	$	(1.40)

Diluted income (loss) per common share excludes the following equity instruments because their effect would be anti-dilutive:
Shares of unvested restricted stock	27		234		925
Shares of stock options	129		1,868		2,386
Common stock equivalents using the if-converted method of settling the 5.00% Convertible Senior Notes (2)	—		—		1,230

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(1)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 year ended December 31, 2021.

(2)We had no 5.00% Convertible Senior Notes outstanding for the years ended December 31, 2023 and 2022.