Quarterly report pursuant to Section 13 or 15(d)

Net Income (Loss) Per Share

v3.20.2
Net Income (Loss) Per Share
 6 Months Ended
Jun. 30, 2020
Earnings Per Share [Abstract]  
Net Income (Loss) Per Share Net Income (Loss) Per Share
          Basic net income (loss) per common share is computed by dividing the net income (loss) relevant to the common stockholders by the weighted average number of common shares outstanding during the period. Diluted net income (loss) per common share uses the same net income (loss) divided by the sum of the weighted average number of shares of common stock outstanding during the period, plus dilutive effects of options, performance and restricted stock units outstanding during the period calculated using the treasury method and the potential dilutive effects of preferred stocks (if any) calculated using the if-converted method.
          The table below shows the calculations for the three and six months ended June 30, 2020 and 2019, (in thousands, except for per share data).
 
 
 
 
 
 
 
Three Months Ended June 30,
 
 
2020
 
2019
Numerator (both basic and diluted)
 
 
 
 
Net income (loss) relevant to common stockholders
 
$
(25,920
)
 
$
36,133

 
 
 
 
 
Denominator
 
 
 
 
Denominator for basic income (loss) per share
 
100,821

 
100,425

Dilutive effect of stock options
 
—

 
3,294

Dilutive effect of performance share units
 
—

 
449

Dilutive effect of restricted stock units
 
—

 
211

Denominator for diluted income (loss) per share
 
100,821

 
104,379

 
 
 
 
 
Basic income (loss) per share
 
$
(0.26
)
 
$
0.36

Diluted income (loss) per share
 
$
(0.26
)
 
$
0.35


 
 
 
 
 
 
 
Six Months Ended June 30,
 
 
2020
 
2019
Numerator (both basic and diluted)
 
 
 
 
Net income (loss) relevant to common stockholders
 
$
(33,724
)
 
$
105,938

 
 
 
 
 
Denominator
 
 
 
 
Denominator for basic income (loss) per share
 
100,754

 
100,329

Dilutive effect of stock options
 
—

 
3,252

Dilutive effect of performance share units
 
—

 
418

Dilutive effect of restricted stock units
 
—

 
182

Denominator for diluted income (loss) per share
 
100,754

 
104,181

 
 
 
 
 
Basic income (loss) per share
 
$
(0.33
)
 
$
1.06

Diluted income (loss) per share
 
$
(0.33
)
 
$
1.02


             As shown in the table below, the following stock options, restricted stock units and performance stock units outstanding as of June 30, 2020 and 2019, respectively, have not been included in the calculation of diluted income (loss) per common share for the three and six months ended June 30, 2020 and 2019 because they will be anti-dilutive to the calculation of diluted net income (loss) per common share.
(In thousands)
 
 
 
 
 
 
2020
 
2019
 
 
 
 
 
Stock options
 
4,224

 
—

Restricted stock units
 
1,269

 
—

Performance stock units
 
1,051

 
—

Total
 
6,544

 
—