Net Income (Loss) Per Share

12 Months Ended

Dec. 31, 2020

Net Income (Loss) Per Share

Net Income (Loss) Per Share

Note 14. Net Income (Loss) Per Share

Our basic net income (loss) per share is computed by dividing the net income (loss) by the number of weighted average common shares outstanding during the period. Our diluted net income (loss) per share is computed by dividing net income (loss) by the weighted average common shares outstanding during the period assuming potentially dilutive common shares of stock options, RSUs, PSUs and common shares issuable upon conversion of the 2020 Notes using the if-converted method.  Common shares issuable upon conversion of the 2020 Notes were excluded from the diluted net income (loss) per share computation for all periods presented as their share effect was anti-dilutive.

Net income (loss) per share was calculated as follows for the periods indicated below:

	Year Ended  December 31,
(in thousands, except per share data)	2020		2019		2018
Basic Net Income (Loss) Per Share
Basic net income (loss)	$	(295,697)	$	446,906	$	109,493
Weighted average common shares outstanding		218,073		214,913		212,383
Basic net income (loss) per share	$	(1.36)	$	2.08	$	0.52
Diluted Net Income (Loss) Per Share
Diluted net income (loss)	$	(295,697)	$	446,906	$	109,493
Weighted average common shares outstanding		218,073		214,913		212,383
Dilutive stock options and awards		—		2,744		3,252
Weighted average shares used to compute diluted net income (loss) per share		218,073		217,657		215,635
Diluted net income (loss) per share	$	(1.36)	$	2.05	$	0.51

The following potential common shares were excluded from the calculation as their effect would be anti-dilutive:

	2020	2019	2018
Outstanding stock options and awards	15,274,871	9,349,889	8,255,992
Common shares issuable upon conversion of the 2020 Notes	—	368,939	368,939
Total potential common shares excluded from diluted net income (loss) per share computation	15,274,871	9,718,828	8,624,931