Note 3 - Net Income (Loss) Per Share (Note)

6 Months Ended

Jun. 30, 2021

Earnings Per Share [Abstract]

Net Income Per Share

Net Income (Loss) Per Share

Basic net income (loss) per share is computed by dividing net income (loss) by the weighted-average number of common shares outstanding, while diluted net 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 dilutive potential common shares. Dilutive potential common shares relate to our share-based compensation arrangements.

The calculation of basic and diluted net income (loss) per share is as follows.

Net income (loss) per share
	Three Months Ended June 30,				Six Months Ended June 30,
(In thousands, except per-share amounts)	2021		2020		2021		2020
Net income (loss)—basic and diluted	$	155,206	$	(29,951)	$	280,814	$	110,510
Average common shares outstanding—basic	193,436		193,299		193,692		197,545
Dilutive effect of share-based compensation arrangements (1)	1,202		—		1,294		1,201
Adjusted average common shares outstanding—diluted	194,638		193,299		194,986		198,746
Net income (loss) per share:
Basic	$	0.80	$	(0.15)	$	1.45	$	0.56
Diluted	$	0.80	$	(0.15)	$	1.44	$	0.56

(1)There were no dilutive shares for the three months ended June 30, 2020, as a result of our net loss for the period. The following number of shares of our common stock equivalents issued under our share-based compensation arrangements are not included in the calculation of diluted net income (loss) per share because they are anti-dilutive.

	Three Months Ended June 30,		Six Months Ended June 30,
(In thousands)	2021	2020	2021	2020
Shares of common stock equivalents	—	2,295	—	1,213