Income (Loss) Per Share (Tables)

12 Months Ended

Dec. 31, 2020

Schedule of Computation of Basic and Diluted Earnings per Share

The following table sets forth the computation of basic and diluted income (loss) per share (in thousands, except per share amounts):


	Year Ended December 31,
	2020		2019		2018
Net income (loss)	$	(409,086)	$	40,809	$	39,427
Less: Undistributed income allocated to participating securities (1)	—		438		556
Net income (loss) attributable to common stockholders	(409,086)		40,371		38,871
Plus: Net income effect of convertible securities	—		—		—
Numerator for diluted income (loss) per common share	$	(409,086)	$	40,371	$	38,871

Basic weighted-average common stock shares outstanding	53,295		50,352		45,726
Plus: dilutive effects of common stock equivalents (2)	—		118		29
Diluted weighted-average common stock shares outstanding	53,295		50,470		45,755

Basic income (loss) per common share	$	(7.68)	$	0.80	$	0.85
Diluted income (loss) per common share	$	(7.68)	$	0.80	$	0.85

Diluted income (loss) per common share excludes the following equity instruments because their effect would be anti-dilutive:
Shares of unvested restricted stock	475		182		68
Shares of stock options	2,229		1,577		1,304
Common stock equivalents using the if-converted method of settling the 5.00% Convertible Senior Notes	2,704		5,122		6,389

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(1)Participating securities include restricted stock that has been issued but had not yet vested. These participating securities were fully vested as of December 31, 2019.

(2)Entities with a net loss from continuing operations are prohibited from including potential common shares in the computation of diluted per share amounts. We have utilized the basic shares outstanding to calculate both basic and diluted loss per common share for the year ended December 31, 2020.