NET LOSS PER SHARE (Tables)

9 Months Ended

Sep. 30, 2020

For the three and nine months ended September 30, 2020 and 2019, there were no differences 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 September 30,						For the Nine Months Ended September 30,
		2020			2019			2020			2019
	(in thousands, except per share amounts)
Net loss		$	(196,499	)	$	(126,326	)	$	(364,811	)	$	(479,372	)
Weighted-average common shares outstanding - basic			78,501			74,177			77,637			73,298
Effect of dilutive securities*			—			—			—			—
Weighted-average common shares outstanding - diluted			78,501			74,177			77,637			73,298
Net loss per share - basic and diluted		$	(2.50	)	$	(1.70	)	$	(4.70	)	$	(6.54	)

For both the three and nine months ended September 30, 2020 and 2019, stock options, RSAs, RSUs, and ESPP to purchase 9.6 million shares of the Company’s common stock were excluded from the diluted net loss per share calculation as their effect would have been anti-dilutive. The Company accounts for the effect of the 2024 Notes on diluted net earnings per share using the if-converted method as they may be settled in cash or shares at the Company’s option. While the closing price on September 30, 2020 exceeded the conversion price of $73.42, the potential shares issuable under the 2024 Notes were excluded from the calculation of diluted loss per share as they were anti-dilutive using the if-converted method. In the period of conversion, the 2024 Notes will have no impact on diluted net earnings (loss) if they are settled in cash and will have an impact on diluted earnings per share if the Notes are settled in shares upon conversion and when the Company is in an income position.