Quarterly report pursuant to Section 13 or 15(d)

Net Income (Loss) Per Share

Net Income (Loss) Per Share

9 Months Ended

Sep. 30, 2020

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 nine months ended September 30, 2020 and 2019, (in thousands, except for per share data):


	Three Months Ended September 30,
	2020		2019
Numerator (both basic and diluted)
Net income (loss) relevant to common stockholders	$	(29,184)	$	34,397

Denominator
Denominator for basic income (loss) per share	100,897		100,606
Dilutive effect of stock options	—		2,750
Dilutive effect of performance share units	—		184
Dilutive effect of restricted stock units	—		112
Denominator for diluted income (loss) per share	100,897		103,652

Basic income (loss) per share	$	(0.29)	$	0.34
Diluted income (loss) per share	$	(0.29)	$	0.33



	Nine Months Ended September 30,
	2020		2019
Numerator (both basic and diluted)
Net income (loss) relevant to common stockholders	$	(62,908)	$	140,335

Denominator
Denominator for basic income (loss) per share	100,802		100,423
Dilutive effect of stock options	—		3,114
Dilutive effect of performance share units	—		183
Dilutive effect of restricted stock units	—		268
Denominator for diluted income (loss) per share	100,802		103,988

Basic income (loss) per share	$	(0.62)	$	1.40
Diluted income (loss) per share	$	(0.62)	$	1.35

As shown in the table below, the following stock options, restricted stock units and performance stock units outstanding as of September 30, 2020 and 2019, respectively, have not been included in the calculation of diluted income (loss) per common share for the three and nine months ended September 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	4,220	702
Restricted stock units	1,218	—
Performance stock units	1,042	—
Total	6,480	702