Net Income (Loss) Per Share

9 Months Ended

Sep. 30, 2020

Net Income (Loss) Per Share

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


	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Numerator for Basic and Diluted Earnings Per Share -
Net Income (Loss)	$	(42,467)	$	615,122	$	(942,038)	$	2,098,389
Denominator for Basic Earnings Per Share -
Weighted Average Shares	579,055		577,839		578,740		577,498
Potential Dilutive Common Shares -
Stock Options/SARs/ESPP	—		203		—		371
Restricted Stock/Units and Performance Units	—		3,229		—		3,321
Denominator for Diluted Earnings Per Share -
Adjusted Diluted Weighted Average Shares	579,055		581,271		578,740		581,190
Net Income (Loss) Per Share
Basic	$	(0.07)	$	1.06	$	(1.63)	$	3.63
Diluted	$	(0.07)	$	1.06	$	(1.63)	$	3.61

The diluted earnings per share calculation excludes stock options, SARs, restricted stock, restricted stock units, performance units and ESPP grants that were anti-dilutive. Shares underlying the excluded stock options, SARs and ESPP grants were 9.4 million and 6.8 million shares for the three months ended September 30, 2020 and 2019, respectively, and were 9.4 million and 6.2 million shares for the nine months ended September 30, 2020 and 2019, respectively. Shares underlying the excluded restricted stock, restricted stock units and performance units were 4.9 million shares for both the three and nine months ended September 30, 2020, respectively.