Earnings (Loss) Per Share

The following table sets forth the computation of basic and diluted income (loss) per share:



	For the Years Ended December 31,
	2017			2016		2015
Net income (loss) per share:
Numerator:
Net income (loss)	$	(22,862	)	$	6,820	$	211,388
Denominator:
Weighted-average common shares outstanding - basic	110,198			110,162		114,814
Effect of potential dilutive common shares	—			2,978		2,670
Weighted-average common shares outstanding - diluted	110,198			113,140		117,484
Basic net income (loss) per share	$	(0.21	)	$	0.06	$	1.84
Diluted net income (loss) per share	$	(0.21	)	$	0.06	$	1.80

For the years ended December 31, 2017, 2016 and 2015, options to purchase approximately 1.5 million, 2.2 million and 2.5 million shares, respectively, were excluded from the calculation because they were anti-dilutive after considering proceeds from exercise, taxes and related unrecognized stock-based compensation expense. For the year ended December 31, 2017, an additional 3.7 million shares have been excluded from the weighted average dilutive shares because there was a net loss for the period. These shares do not include the Company’s 2023 Notes and the 1.125% convertible senior notes due 2018 (the "2018 Notes"). The par amount of convertible notes is payable in cash equal to the principal amount of the notes plus any accrued and unpaid interest and then the “in-the-money” conversion benefit feature at the conversion price above $18.93 and $12.07, respectively, per share is payable in cash, shares of the Company’s common stock or a combination of both. The Company has the option to pay cash, issue shares of common stock or any combination thereof for the aggregate amount due upon conversion of the notes. The Company’s intent is to settle the principal amount of the notes in cash upon conversion. As a result, upon conversion of the notes, only the amounts payable in excess of the principal amounts of the notes are considered in diluted earnings per share under the treasury stock method. Refer to Note 10, "Convertible Notes” for more details.