Net (Loss) Income Per Share (Tables)

6 Months Ended

Jun. 30, 2022

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

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

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Adjustment to net (loss) income for convertible notes in diluted EPS (1)
NET (LOSS) INCOME	$	(35,303)	$	75,873	$	(84,711)	$	53,759
Convertible note accretion, amortization, and interest, net of tax	—		1,552		—		2,997
NET (LOSS) INCOME USED IN DILUTED EPS	$	(35,303)	$	77,425	$	(84,711)	$	56,756
Basic weighted average shares outstanding	124,068		118,287		123,850		117,249
Dilutive effect of stock options	—		2,027		—		2,221
Dilutive effect of restricted stock awards	—		170		—		196
Dilutive effect of Convertible Notes due 2025	—		5,538		—		5,538
Dilutive effect of Convertible Notes due 2028	—		5,215		—		5,043
Diluted weighted average shares outstanding	124,068		131,237		123,850		130,247
Basic net (loss) income per share	$	(0.28)	$	0.64	$	(0.68)	$	0.46
Diluted net (loss) income per share	$	(0.28)	$	0.59	$	(0.68)	$	0.44

(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).

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):

	Three Months Ended June 30,		Six Months Ended June 30,
	2022	2021	2022	2021
Stock options	68	—	332	—
Restricted stock awards	52	—	152	—
2025 Convertible Notes	5,538	—	5,538	—
2028 Convertible Notes	5,215	—	5,215	—