Net Income Per Share

9 Months Ended

Sep. 30, 2020

Basic net income per share is computed by dividing net income by the weighted average number of common shares outstanding for the period. Diluted net income per share is computed using the weighted average number of common shares outstanding and, when dilutive, common share equivalents from outstanding stock options and restricted stock units (using the treasury-stock method), and potential common shares from the Company’s convertible notes (using the if-converted method). The weighted-average number of common shares used in the computation of basic and diluted net income per share were as follows:


	Three Months Ended September 30,		Nine Months Ended September 30,
(in millions)	2020	2019	2020	2019
Weighted average number of common shares outstanding, basic	65,717,820	60,743,211	64,329,181	59,986,163
Stock options	978,657	1,370,792	1,082,247	1,514,245
Restricted stock units	131,215	221,676	186,769	227,610
Weighted average number of common shares outstanding, diluted	66,827,692	62,335,679	65,598,197	61,728,018

The number of common share equivalents excluded from the computation of diluted net income per share because either the effect would have been anti-dilutive, or the performance criteria related to the units had not yet been met, were as follows:


	Three Months Ended September 30,		Nine Months Ended September 30,
	2020	2019	2020	2019
1.25% Convertible Senior Notes	—	2,055,786	—	2,055,786
1.375% Convertible Senior Notes	4,319,429	4,319,429	4,319,429	4,319,429
0.375% Convertible Senior Notes	3,528,400	3,528,400	3,528,400	3,528,400
Unvested restricted stock units	272,992	455,876	272,877	455,824
Stock options	65,331	7,858	56,522	136,342
Total	8,186,152	10,367,349	8,177,228	10,495,781