Net Income (Loss) Per Share

6 Months Ended

Jun. 30, 2020

Earnings Per Share [Abstract]

Net Income Per Share

Net Income (Loss) Per Share

The following table sets forth the computation of Net Income (Loss) Per Share for the three-month and six-month periods ended June 30, 2020 and 2019 (in thousands, except per share data):

	Three Months Ended June 30,				Six Months Ended June 30,
	2020		2019		2020		2019
Numerator for Basic and Diluted Earnings Per Share -
Net Income (Loss)	$	(909,384)	$	847,841	$	(899,571)	$	1,483,267
Denominator for Basic Earnings Per Share -
Weighted Average Shares	578,719		577,460		578,581		577,333
Potential Dilutive Common Shares -
Stock Options/SARs/ESPP	—		434		—		452
Restricted Stock/Units and Performance Units	—		2,353		—		2,419
Denominator for Diluted Earnings Per Share -
Adjusted Diluted Weighted Average Shares	578,719		580,247		578,581		580,204
Net Income (Loss) Per Share
Basic	$	(1.57)	$	1.47	$	(1.55)	$	2.57
Diluted	$	(1.57)	$	1.46	$	(1.55)	$	2.56

The diluted earnings per share calculation excludes stock options, SARs, restricted stock, restricted stock units and performance units and ESPP grants that were anti-dilutive. Shares underlying the excluded stock options, SARs and ESPP grants were 9.3 million and 6.0 million shares for the three months ended June 30, 2020 and 2019, respectively, and were 9.3 million and 6.0 million shares for the six months ended June 30, 2020 and 2019, respectively. For the three and six months ended June 30, 2020, 4.8 million shares of restricted stock, restricted stock units and performance units were excluded.