(LOSS) PER SHARE (Tables)

9 Months Ended

Sep. 30, 2020

Summary of basic and diluted earnings per share

Calculation of the basic and diluted earnings per share:


	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands, except per share amounts)	2020		2019		2020		2019
Net (loss)	$	(19,267)	$	(30,338)	$	(65,379)	$	(91,351)
Weighted-average common shares outstanding	80,537		79,200		80,191		78,928
(Loss) per share, basic	$	(0.24)	$	(0.38)	$	(0.82)	$	(1.16)

Net (loss)	$	(19,267)	$	(30,338)	$	(65,379)	$	(91,351)





Weighted-average common shares outstanding, assuming dilution (1) (2)	80,537		79,200		80,191		78,928
(Loss) per share, diluted	$	(0.24)	$	(0.38)	$	(0.82)	$	(1.16)

Outstanding anti-dilutive stock options and RSUs (3)	6,622		5,953		6,166		5,923

(1) The Company expects to settle the principal amount of the Notes in cash. As a result, only the amount by which the conversion value exceeds the aggregated principal amount of the Notes is included in the diluted earnings per share computation under the treasury stock method. The conversion spread has a dilutive impact on diluted net income per share when the average market price of the Company’s common stock for a given period exceeds the initial conversion price of $135.05 per share for the Notes. In connection with the Notes’ issuance, the Company entered into Capped Call Transactions, which were not included in calculating the number of diluted shares outstanding, as their effect would have been anti-dilutive.

(2) In periods of loss, all dilutive securities are excluded as their inclusion would be anti-dilutive.

(3) Certain outstanding stock options and RSUs were excluded from the computation of diluted earnings per share because they were anti-dilutive in the period presented. These awards may be dilutive in the future.