14. NET EARNINGS (LOSS) PER SHARE

Basic net earnings (loss) per share is computed by dividing net income (loss) by the weighted-average number of shares of common stock outstanding. Diluted net earnings (loss) per share is computed by dividing net income (loss) by the weighted-average number of shares of common stock and dilutive common stock equivalents outstanding. For the three months ended June 30, 2017 and 2016 as well as for the six months ended June 30, 2016, there was no difference between basic and diluted net loss per share since the effect of common stock equivalents would be anti-dilutive due to the net loss position and, therefore, would be excluded from the diluted net loss per share calculation.

	For the Three Months Ended June 30,						For the Six Months Ended June 30,
	2017			2016			2017		2016
	(in thousands, except per share amounts)
Net (loss) income	$	(63,046	)	$	(62,301	)	$	21,044	$	(122,071	)
Weighted-average number of shares of common stock and common stock equivalents outstanding:
Weighted-average number of shares of common stock outstanding for computing basic loss per share		54,976			46,157			54,913		45,927
Dilutive effect of outstanding stock awards and stock options after application of the treasury stock method*		—			—			1,263		—
Weighted-average number of shares of common stock and dilutive common stock equivalents outstanding for computing diluted loss per share		54,976			46,157			56,176		45,927
Net (loss) income per share:
Basic (loss) earnings per share	$	(1.15	)	$	(1.35	)	$	0.38	$	(2.66	)
Diluted (loss) earnings per share	$	(1.15	)	$	(1.35	)	$	0.37	$	(2.66	)

For the three months ended June 30, 2017, stock options, RSAs and SARs to purchase 10.1 million shares of the Company’s common stock were excluded from the net loss per share calculation as their effect would have been anti-dilutive. For the six months ended June 30, 2017, out of money stock options, unvested performance-based RSUs and RSAs whose performance milestones were not achieved and potentially issuable common stock for ESPP to purchase approximately 7.0 million shares of the Company’s common stock were excluded from the net earnings per share calculation as their effect would have been anti-dilutive. For the three and six months ended June 30, 2016, stock options, RSAs and SARs to purchase 7.3 million shares of the Company’s common stock were excluded from the net loss per share calculation as their effect would have been anti-dilutive.