| Schedule of Earnings Per Share, Basic and Diluted |
The following table shows the calculations (in thousands, except net loss per share amounts):
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Three Months Ended June 30, |
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Six Months Ended June 30, |
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2022 |
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2021 |
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2022 |
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2021 |
Adjustment to net (loss) income for convertible notes in diluted EPS (1)
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| NET (LOSS) INCOME |
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$ |
(35,303) |
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$ |
75,873 |
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$ |
(84,711) |
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$ |
53,759 |
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| Convertible note accretion, amortization, and interest, net of tax |
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— |
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1,552 |
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— |
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2,997 |
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| NET (LOSS) INCOME USED IN DILUTED EPS |
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$ |
(35,303) |
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$ |
77,425 |
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$ |
(84,711) |
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$ |
56,756 |
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| Basic weighted average shares outstanding |
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124,068 |
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118,287 |
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123,850 |
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117,249 |
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| Dilutive effect of stock options |
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— |
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2,027 |
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— |
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2,221 |
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| Dilutive effect of restricted stock awards |
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— |
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170 |
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— |
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196 |
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| Dilutive effect of Convertible Notes due 2025 |
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— |
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5,538 |
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— |
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5,538 |
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| Dilutive effect of Convertible Notes due 2028 |
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— |
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5,215 |
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— |
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5,043 |
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| Diluted weighted average shares outstanding |
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124,068 |
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131,237 |
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123,850 |
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130,247 |
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| Basic net (loss) income per share |
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$ |
(0.28) |
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$ |
0.64 |
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$ |
(0.68) |
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$ |
0.46 |
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| Diluted net (loss) income per share |
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$ |
(0.28) |
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$ |
0.59 |
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$ |
(0.68) |
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$ |
0.44 |
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(1) This adjustment compensates for the effects of the if-converted impact of convertible notes in adjusted net income. Since an entity using the if-converted method assumes that a convertible debt instrument was converted into common shares at the beginning of the reporting period, net (loss) income is adjusted to reverse any recognized interest expense (including any amortization of discounts).
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| Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share |
The following potential dilutive shares were excluded from the calculation of diluted net loss per share because their effect would be anti-dilutive (in thousands):
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Three Months Ended June 30, |
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Six Months Ended June 30, |
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2022 |
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2021 |
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2022 |
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2021 |
| Stock options |
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68 |
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— |
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332 |
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— |
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| Restricted stock awards |
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52 |
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— |
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152 |
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— |
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| 2025 Convertible Notes |
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5,538 |
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— |
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5,538 |
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— |
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| 2028 Convertible Notes |
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5,215 |
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— |
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5,215 |
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— |
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