Net (Loss) Income Per Share (Tables)

9 Months Ended

Sep. 30, 2021

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

The following table shows the calculations (in thousands, except net (loss) income per share amounts):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2021		2020		2021		2020
Adjustment to net (loss) income for convertible notes in diluted EPS (1)
NET (LOSS) INCOME	$	(20,348)	$	2,557	$	33,412	$	(11,245)
Convertible note accretion, amortization, and interest, net of tax	—		1,975		—		—
NET (LOSS) INCOME USED IN DILUTED EPS	$	(20,348)	$	4,532	$	33,412	$	(11,245)
Basic weighted average shares outstanding	122,559		110,461		119,087		107,605
Dilutive effect of stock options	—		3,017		2,077		—
Dilutive effect of restricted stock awards	—		175		192		—
Dilutive effect of Convertible Notes due 2025	—		5,538		—		—
Diluted weighted average shares outstanding	122,559		119,191		121,356		107,605
Basic net (loss) income per share	$	(0.17)	$	0.02	$	0.28	$	(0.10)
Diluted net (loss) income per share	$	(0.17)	$	0.04	$	0.28	$	(0.10)

(1) This adjustment compensates for the effects of the if-converted impact of convertible notes in 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 income is adjusted to reverse any recognized interest expense (including any amortization of discounts).

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) income per share because their effect would be anti-dilutive (in thousands):

	Three Months Ended September 30,		Nine Months Ended September 30,
	2021	2020	2021	2020
Stock options	1,811	—	—	3,069
Restricted stock awards	201	—	—	202
2025 Convertible Notes	5,538	—	5,538	3,113
2028 Convertible Notes	5,215	—	5,101	—