12. EARNINGS PER SHARE

Basic earnings per share is computed using the weighted-average number of common shares outstanding during the applicable period. Diluted earnings per share is computed using the weighted-average number of common shares outstanding during the applicable period, plus the dilutive effect of outstanding stock options and RSUs, using the treasury stock method. In periods of loss, all stock options and RSUs are excluded, as their inclusion would be anti-dilutive.

The calculation of the basic and diluted earnings per share is as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
(in thousands, except per share amounts)	2018		2017		2018		2017
Basic
Net (loss)/income	$	(10,409)	$	3,702	$	1,791	$	56,665
Weighted-average common shares outstanding		78,635		77,313		78,436		77,039

(Loss)/earnings per share, basic	$	(0.13)	$	0.05	$	0.02	$	0.74


Diluted
Net (loss)/income	$	(10,409)	$	3,702	$	1,791	$	56,665
Weighted-average effect of dilutive securities:
Stock options		—		3,694		3,132		3,439
RSUs		—		1,938		1,679		1,934

Effect of dilutive securities		—		5,632		4,811		5,373

Weighted-average common shares outstanding, assuming dilution		78,635		82,945		83,247		82,412

(Loss)/earnings per share, diluted	$	(0.13)	$	0.04	$	0.02	$	0.69


Outstanding anti-dilutive stock options and RSUs⁽¹⁾		6,500		237		242		276

⁽¹⁾	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.