| Net Income Per Share |
Net Income (Loss) Per Share Basic net income (loss) per share is computed by dividing net income (loss) by the weighted-average number of common shares outstanding, while diluted net income (loss) per share is computed by dividing net income (loss) attributable to common shareholders by the sum of the weighted-average number of common shares outstanding and the weighted-average number of dilutive potential common shares. Dilutive potential common shares relate to our share-based compensation arrangements and our outstanding convertible senior notes. The calculation of basic and diluted net income (loss) per share was as follows: | | | | | | | | | | | | | | | | | | Three Months Ended
June 30, | | Six Months Ended
June 30, | (In thousands, except per-share amounts) | 2017 | | 2016 | | 2017 | | 2016 | Net income (loss)—basic | $ | (27,342 | ) | | $ | 98,112 |
| | $ | 49,130 |
| | $ | 164,361 |
| Adjustment for dilutive Convertible Senior Notes due 2019, net of tax (1) | — |
| | 913 |
| | (215 | ) | | 4,303 |
| Net income (loss)—diluted | $ | (27,342 | ) | | $ | 99,025 |
| | $ | 48,915 |
| | $ | 168,664 |
| | | | | | | | | Average common shares outstanding—basic | 215,152 |
| | 214,274 |
| | 215,054 |
| | 208,991 |
| Dilutive effect of Convertible Senior Notes due 2017 (2) | — |
| | 12 |
| | 602 |
| | — |
| Dilutive effect of Convertible Senior Notes due 2019 | — |
| | 8,928 |
| | 922 |
| | 21,256 |
| Dilutive effect of share-based compensation arrangements (2) | — |
| | 2,989 |
| | 3,896 |
| | 2,698 |
| Adjusted average common shares outstanding—diluted | 215,152 |
|
| 226,203 |
| | 220,474 |
| | 232,945 |
| | | | | | | | | Net income (loss) per share: | | | | | | | | | | | | | | | | Basic | $ | (0.13 | ) | | $ | 0.46 |
| | $ | 0.23 |
| | $ | 0.79 |
| | | | | | | | | Diluted | $ | (0.13 | ) | | $ | 0.44 |
| | $ | 0.22 |
| | $ | 0.73 |
|
______________________ | | (1) | As applicable, includes coupon interest, amortization of discount and fees, and other changes in income or loss that would result from the assumed conversion. Included in the six months ended June 30, 2017 is a benefit related to our adjustment of estimated accrued expense to actual amounts, resulting from the January 2017 settlement of our obligations on the remaining Convertible Senior Notes due 2019. |
| | (2) | There were no dilutive shares for the three months ended June 30, 2017, as a result of our net loss for the period. The following number of shares of our common stock equivalents issued under our share-based compensation arrangements and our convertible debt were not included in the calculation of diluted net income (loss) per share because they were anti-dilutive: |
| | | | | | | | | | | | | | Three Months Ended
June 30, | | Six Months Ended
June 30, | (In thousands) | 2017 | | 2016 | | 2017 | | 2016 | Shares of common stock equivalents | 5,975 |
| | 1,042 |
| | 442 |
| | 1,042 |
| Shares of Convertible Senior Notes due 2017 | 509 |
| | — |
| | — |
| | 1,902 |
|
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