XML 27 R16.htm IDEA: XBRL DOCUMENT v3.25.2
EARNINGS PER COMMON SHARE
6 Months Ended
Jun. 30, 2025
Earnings Per Share [Abstract]  
EARNINGS PER COMMON SHARE EARNINGS PER COMMON SHARE
Potentially issuable shares of common stock include shares issuable upon the exercise of outstanding employee stock option awards, common stock issuable under the ESPP, unvested RSUs and contingent issuances of common stock related to the Company’s convertible debt.
The following table sets forth the computation of basic and diluted earnings per common share (common shares in thousands):
Three Months Ended
June 30,
Six Months Ended
June 30,
2025202420252024
Numerator:
Net Income, basic$240,532 $107,174 $426,218 $195,836 
Add: Interest expense, net of tax, on the Company's convertible debt1,833 2,769 3,665 5,538 
Net Income, diluted$242,365 $109,943 $429,883 $201,374 
Denominator:
Weighted-average common shares outstanding, basic191,907 190,114 191,440 189,490 
Effect of dilutive securities:
Common stock issuable under the Company's equity incentive plans819 2,056 838 2,312 
Common stock issuable under the Company’s convertible debt(1)
4,365 8,335 4,365 8,335 
Weighted-average common shares outstanding, diluted197,091 200,505 196,643 200,137 
Earnings per common share, basic$1.25 $0.56 $2.23 $1.03 
Earnings per common share, diluted$1.23 $0.55 $2.19 $1.01 
(1)     If converted, in the three and six months ended June 30, 2024, the Company would issue 4.0 million shares under the 2024 Notes and 4.4 million shares under the 2027 Notes. For additional discussion of the Company’s convertible debt, see Note 6 - Debt.
In addition to the equity instruments included in the table above, the table below presents potential shares of common stock that were excluded from the computation of diluted earnings per common share as they were anti-dilutive (in thousands):
Three Months Ended
June 30,
Six Months Ended
June 30,
2025202420252024
Common stock issuable under the Company's equity incentive plans11,815 10,362 11,795 10,106