INCOME (LOSS) PER SHARE (Tables)

9 Months Ended

Sep. 30, 2021

Schedule of Computation of Basic and Diluted Net Income (Loss) Per Share

The following table sets forth the computation of basic and diluted net income (loss) per share of common stock for the three and nine months ended September 30, 2021 and 2020 (in thousands, except share amounts and per share amounts):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2021		2020		2021		2020
Basic and diluted net income (loss) per share:

Numerator
Income (loss) - continuing operations	$	78,701	$	(16,561)	$	90,020	$	(300,533)
Less: Income (loss) attributable to noncontrolling interests	594		(291)		737		1,758
Basic net income (loss) attributable to common stockholders - continuing operations	78,107		(16,270)		89,283		(302,291)
Net income (loss) attributable to common stockholders - discontinued operations	—		—		—		382
Basic net income (loss) attributable to common stockholders	$	78,107	$	(16,270)	$	89,283	$	(301,909)

Diluted net income (loss) attributable to common stockholders - continuing operations	78,107		(16,270)		89,283		(302,291)
Net income (loss) attributable to common stockholders - discontinued operations	—		—		—		382
Diluted net income (loss) attributable to common stockholders	78,107		(16,270)		89,283		(301,909)
Plus: Interest expense from assumed conversion of convertible senior notes	700		—		1,392		—
Net income (loss) attributable to common stockholders plus assumed conversions	$	78,807	$	(16,270)	$	90,675	$	(301,909)

Denominator
Shares used in computation of basic net income (loss) per share	29,567,802		28,751,520		29,282,932		28,535,393
Weighted-average effect of diluted securities
Restricted stock units	351,720		—		712,866		—
Performance share units and other stock-based compensation awards	68,616		—		89,981		—
Convertible senior notes due 2026	3,376,400		—		2,308,112		—
Shares used in computation of diluted net income (loss) per share	33,364,538		28,751,520		32,393,891		28,535,393

Basic net income (loss) per share:
Continuing operations	$	2.64	$	(0.57)	$	3.05	$	(10.59)
Discontinued operations	—		—		—		0.01
Basic net income (loss) per share	$	2.64	$	(0.57)	$	3.05	$	(10.58)

Diluted net income (loss) per share:
Continuing operations	$	2.36	$	(0.57)	$	2.80	$	(10.59)
Discontinued operations	—		—		—		0.01
Diluted net income (loss) per share	$	2.36	$	(0.57)	$	2.80	$	(10.58)

Schedule of Weighted-Average Potentially Dilutive Instruments

The following weighted-average potentially dilutive instruments are not included in the diluted net income (loss) per share calculations above because they would have had an antidilutive effect on the net income (loss) per share from continuing operations:


	Three Months Ended September 30,		Nine Months Ended September 30,
	2021	2020	2021	2020
Restricted stock units	854,304	1,907,396	410,856	1,879,752
Performance share units and other stock-based compensation awards	—	151,110	—	199,849
Convertible senior notes due 2022 (1)	—	2,314,815	1,144,689	2,314,815
Warrants	—	2,314,815	1,170,126	2,314,815
Capped call transactions	3,376,400	—	2,308,112	—
Total	4,230,704	6,688,136	5,033,783	6,709,231

(1)We apply the if-converted method in computing the effect of our convertible senior notes on diluted net income (loss) per share, whereby the numerator of our diluted net income (loss) per share computations is adjusted for interest expense, net of tax, and the denominator is adjusted for the number shares into which the convertible senior notes could be converted. The effect is only included in the calculation of income (loss) per share for those instruments for which it would reduce income (loss) per share. See Note 5, Financing Arrangements, for additional information.