EARNINGS (LOSS) PER SHARE

Basic earnings (loss) per share is computed by dividing our net income (loss) by the weighted average number of shares outstanding during the period. For diluted earnings per share, the dilutive impact of stock options, warrants and conversion options of the 2033 Senior Notes is determined by applying the “treasury stock” method. In the periods in which their effect would be antidilutive, no effect has been given to outstanding options, warrants or the potentially dilutive shares issuable pursuant to the 2033 Senior Notes (defined in Note 6) in the dilutive computation. The following table sets forth the computation of basic and diluted earnings (loss) per share:



	For the three months ended June 30,						For the six months ended June 30,
(In thousands, except per share data)	2017			2016			2017			2016
Numerator
Net income (loss), basic	$	(17,528	)	$	15,533		$	(48,523	)	$	3,554
Add: Interest on 2033 Senior Notes	652			604			1,291			1,196
Change in FV of embedded derivative income	(5,069		)	(4,872		)	(10,014		)	(4,734		)
Net income (loss), diluted	$	(21,945	)	$	11,265		$	(57,246	)	$	16

Denominator
(Shares in thousands)
Weighted average common shares outstanding, basic	559,348			547,559			558,892			546,691
Effect of dilutive securities:
Stock options	—			4,264			—			4,222
Warrants	—			661			—			1,267
2033 Senior Notes	4,816			4,556			4,725			4,556
Dilutive potential shares	4,816			9,481			4,725			10,045
Weighted average common shares outstanding, diluted	564,164			557,040			563,617			556,736

Earnings (loss) per share, basic	$	(0.03	)	$	0.03		$	(0.09	)	$	0.01
Earnings (loss) per share, diluted	$	(0.04	)	$	0.02		$	(0.10	)	$	—

A total of 1,271,026 and 1,947,013 potential shares of Common Stock have been excluded from the calculation of diluted net earnings (loss) per share for the three and six months ended June 30, 2017, respectively, because their inclusion would be antidilutive.

During the three months ended June 30, 2017, 539,500 Common Stock options and Common Stock warrants to purchase shares of our Common Stock were exercised, resulting in the issuance of 351,625 shares of Common Stock. Of the 539,500 Common Stock options and Common Stock warrants exercised, 187,875 shares of Common Stock were surrendered in lieu of a cash payment via the net exercise feature of the agreements.

During the six months ended June 30, 2017, 1,646,372 Common Stock options and Common Stock warrants to purchase shares of our Common Stock were exercised, resulting in the issuance of 1,373,515 shares of Common Stock. Of the 1,646,372 Common Stock options and Common Stock warrants exercised, 272,857 shares of Common Stock were surrendered in lieu of a cash payment via the net exercise feature of the agreements.

During the three months ended June 30, 2016, 439,238 Common Stock options and Common Stock warrants to purchase shares of our Common Stock were exercised, resulting in the issuance of 318,082 shares of Common Stock. Of the 439,238 Common Stock options and Common Stock warrants exercised, 121,156 shares of Common Stock were surrendered in lieu of a cash payment via the net exercise feature of the agreements.

During the six months ended June 30, 2016, 2,238,537 Common Stock options and Common Stock warrants to purchase shares of our Common Stock were exercised, resulting in the issuance of 2,113,157 shares of Common Stock. Of the 2,238,537 Common Stock options and Common Stock warrants exercised, 125,380 shares of Common Stock were surrendered in lieu of a cash payment via the net exercise feature of the agreements.