NET INCOME (LOSS) PER SHARE

Basic and diluted net income (loss) per share was as follows:



	Years Ended December 31,
	2018		2017		2016
	(In thousands, except per share amounts)
Basic net income per share:
Net income	$	60,801	$	64,743	$	74,564
Weighted average common shares outstanding	82,857		76,897		74,386
Basic net income per common share	$	0.73	$	0.84	$	1.00

Diluted net income per share:
Net income	$	60,801	$	64,743	$	74,564

Weighted average common shares outstanding — Basic	82,857		76,897		74,386
Effect of dilutive securities:
2016 Convertible notes	—		—		2,296
Warrants	—		971		1,166
Stock options and restricted stock	1,142		1,253		1,346
Weighted average common shares for diluted earnings per share	83,999		79,121		79,194
Diluted net income per common share	$	0.72	$	0.82	$	0.94

Common stock of approximately 0.2 million shares at December 31, 2018, 2017, and 2016 that are issuable through exercise of dilutive securities were not included in the computation of diluted net income per share because their effect would have been anti-dilutive.

For the period from January 1, 2016 to December 15, 2016, the date of 2016 Convertible Notes settlement, the potential excess conversion value on the 2016 Convertible Notes was included in the Company's dilutive share calculation because the average stock price for period outstanding exceeded the conversion price. On December 15, 2016, the Company settled the 2016 Convertible Notes and issued 2.9 million shares of common stock related to the conversion premium of 2016 Convertible Notes. The Company also exercised the call option with hedge participants and received 2.9 million shares of common stock.

The Company also had warrants outstanding related to its 2016 Convertible Notes for the year ended 2016. These warrants and the excess conversion value of the 2016 Convertible Notes are included in the diluted earnings per share calculation using the treasury stock method, unless the effect of including such items would be anti-dilutive. For the year ended December 31, 2017, the potential excess conversion value on the 2016 Notes was included in the Company's dilutive share calculation because the average stock price for the year ended December 31, 2017 exceeded the conversion price.

Performance Shares and Restricted Units that entitle the holders to approximately 0.5 million shares of common stock are included in the basic and diluted weighted average shares outstanding calculation from their date of issuance because no further consideration is due related to the issuance of the underlying common shares.