Net Income Per Share

12 Months Ended

Dec. 31, 2023

Note 13. Net Income per Share

The Company computed basic and diluted net income per share as follows (in millions, except per share amounts):


	Years Ended December 31,
	2023		2022		2021
Numerator:
Net income	$	310.2	$	471.0	$	252.7
Denominator:
Weighted-average shares used to compute basic net income per share	320.0		322.1		324.4
Dilutive effect of employee stock awards	5.9		7.4		7.2
Weighted-average shares used to compute diluted net income per share	325.9		329.5		331.6
Net income per share:
Basic	$	0.97	$	1.46	$	0.78
Diluted	$	0.95	$	1.43	$	0.76

Anti-dilutive shares	6.4		3.4		0.5

Basic net income per share is computed using net income available to common stockholders and the weighted-average number of common shares outstanding for the period. Diluted net income per share is computed using net income available to common stockholders and the weighted-average number of common shares outstanding plus potentially dilutive common shares outstanding during the period. Dilutive potential common shares consist of common shares issuable upon exercise of stock options and purchase rights, and vesting of RSUs, RSAs, and PSAs. The Company includes the common shares underlying PSAs in the calculation of diluted net income per share only when they become contingently issuable. Anti-dilutive shares are excluded from the computation of diluted net income per share.