NET INCOME PER SHARE Earnings Per Share (Notes)

3 Months Ended

Mar. 31, 2021

NET INCOME (LOSS) PER SHARE

Net income (loss) per common share is presented for both basic income (loss) per share (“Basic EPS”) and diluted income (loss) per share (“Diluted EPS”). Basic EPS is based on the weighted-average number of common shares outstanding during the period. Diluted EPS is based on the weighted-average number of common shares and common share equivalents outstanding during the period.

The potential common shares that were considered anti-dilutive securities were excluded from the diluted earnings per share calculations for the relevant periods either because the sum of the exercise price per share and the unrecognized compensation cost per share was greater than the average market price of our common stock for the relevant periods, or because they were considered contingently issuable. The contingently issuable potential common shares result from certain stock options and restricted stock units granted to our employees that vest based on performance conditions, market conditions, or a combination of performance and market conditions.

The following table sets forth (in thousands) potential common shares that were considered anti-dilutive securities at March 31, 2021 and 2020:


	March 31, 2021	March 31, 2020
Options	—	465
Non-vested restricted stock units	1,040	3,069
Anti-dilutive potential common shares	1,040	3,534

The following table sets forth (in thousands) the basic and diluted weighted common shares outstanding for the three months ended March 31, 2021:


Weighted common shares outstanding - basic			44,559
Net effect of common stock equivalents			1,645
Weighted common shares outstanding - diluted			46,204