XML 30 R19.htm IDEA: XBRL DOCUMENT v3.5.0.2
Net Income (Loss) per Share (Tables)
 9 Months Ended
Sep. 30, 2016
Net Income (Loss) per Share  
Schedule of computation of basic and diluted net income per share

 

 

 

Three Months Ended
September 30,

 

Nine Months Ended
September 30,

 

(In thousands except for per share amounts)

 

2016(1)(2)

 

2015

 

2016(3)

 

2015

 

Numerator:

 

 

 

 

 

 

 

 

 

Net income (loss), attributable to common stockholders, basic

 

$
15,033

 

$
(4,584

)

$
34,065

 

$
(23,061

)

Add: Interest expense on convertible subordinated notes due 2023, net of tax

 
1,429

 

—

 

—

 

—

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) attributable to common stockholders, diluted

 

$
16,462

 

$
(4,584

)

$
34,065

 

$
(23,061

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

 

Weighted-average shares used to compute basic net income (loss) per share

 
109,282

 
115,787

 
111,128

 
115,381

 

Dilutive effect of convertible subordinated notes due 2023

 
12,398

 

—

 

—

 

—

 

Dilutive effect of options and awards granted under equity incentive plan and employee stock purchase plan

 
313

 

—

 
455

 

—

 

 

 

 

 

 

 

 

 

 

 

Weighted-average shares used to compute diluted net income (loss) per share

 
121,993

 
115,787

 
111,583

 
115,381

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) per share

 

 

 

 

 

 

 

 

 

Basic

 

$
0.14

 

$
(0.04

)

$
0.31

 

$
(0.20

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted

 

$
0.13

 

$
(0.04

)

$
0.31

 

$
(0.20

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Schedule of anti-dilutive securities

 

 

 

Three months ended September 30,

 

Nine months ended September 30,

 

(In thousands)

 

2016(1)

 

2015(4)

 

2016(3)

 

2015(5)

 

Outstanding options and awards granted under equity incentive plan and employee stock purchase plan

 
3,881 

 
6,559 

 
4,216 

 
7,197 

 

Shares issuable upon conversion of convertible subordinated notes

 

—

 
12,904 

 
12,635 

 
12,904 

 

 

 

 

 

 

 

 

 

 

 

 

 
3,881 

 
19,463 

 
16,851 

 
20,101 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1)

Includes 2.6 million options, 49,000 restricted stock units, and 0.1 million unvested restricted stock awards (“RSAs”) retained by former employees who were transferred to Theravance Biopharma, Inc. (“Theravance Biopharma”) in connection with the Spin-Off of Theravance Biopharma in June 2014 (the “Spin-Off”). Subsequent to the Spin-Off, stock-based compensation expense associated with the awards held by Theravance Biopharma employees granted prior to the Spin-Off is recognized by Theravance Biopharma. Under Anti-Dilutive Securities, stock options of 2.6 million were excluded from the diluted net income per share calculation as their effect was anti-dilutive.

 

(2)

For the three months ended September 30, 2016, the effect of assumed conversion of convertible subordinated notes due 2023 were dilutive under the if-converted method and was included in the computation of diluted net income per share.

 

(3)

Includes 3.0 million options, 0.1 million restricted stock units, and 0.2 million unvested RSAs retained by former employees who were transferred to Theravance Biopharma in connection with the Spin-Off. Subsequent to the Spin-Off, stock-based compensation expense associated with the awards held by Theravance Biopharma employees granted prior to the Spin-Off is recognized by Theravance Biopharma. Under Anti-Dilutive Securities, stock options for 2.9 million shares of common stock were excluded from the diluted net income per share calculation as their effect was anti-dilutive.

 

(4)

Includes 4.0 million options, 0.3 million restricted stock units, and 0.8 million unvested RSAs retained by former employees who were transferred to Theravance Biopharma in connection with the Spin-Off. All of these awards were excluded from the diluted net loss per share calculation as their effect was anti-dilutive.

 

(5)

Includes 4.2 million options, 0.4 million restricted stock units, and 1.0 million unvested RSAs retained by former employees who were transferred to Theravance Biopharma in connection with the Spin-Off. All of these awards were excluded from the diluted net loss per share calculation as their effect was anti-dilutive.