NET INCOME (LOSS) PER SHARE

3 Months Ended

Mar. 31, 2020

Basic net (loss) income per share is calculated by dividing the net (loss) income by the weighted-average number of shares of common stock outstanding during the period. Diluted net (loss) income per share is calculated by dividing the net income by the weighted-average number of shares of common stock outstanding during the period, plus potentially dilutive common shares, consisting of stock options and convertible debt. The Company uses the treasury-stock method to compute diluted earnings per share with respect to its stock options and equivalents. The Company uses the if-converted method to compute diluted earnings per share with respect to its convertible debt. For purposes of this calculation, options to purchase stock are considered to be potential common shares and are only included in the calculation of diluted net (loss) income per share when their effect is dilutive. Basic and diluted earnings per common share are calculated as follows (in thousands, except for per share amounts):



	Three Months Ended March 31,
	2020		2019
Basic net income (loss) per share
Net income (loss)	$	41,230	$	(14,301	)
Weighted average common shares outstanding	70,940		64,239
Basic net income (loss) per share	$	0.58	$	(0.22	)

Diluted net income (loss) per share
Net income (loss)	$	41,230	$	(14,301	)
Weighted average common shares outstanding	70,940		64,239
Add: effect of dilutive stock options, awards, and equivalents	111		—
Denominator for diluted income (loss) per share	71,051		64,239
Diluted net income (loss) per share	$	0.58	$	(0.22	)

The following table sets forth outstanding potentially dilutive common shares that are not included in the computation of diluted net income (loss) per share because to do so would be anti-dilutive (in thousands):



	Three Months Ended March 31,
	2020	2019
2.5% Convertible Notes debt 2021	5,111	17,931
5.0% Convertible Notes debt 2024	26,248	—
Stock options, awards and equivalents	7,144	6,103
Total potentially dilutive common shares	38,503	24,034