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Condensed Consolidated Statements of Income - USD ($)
shares in Millions, $ in Millions
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
REVENUE:    
Total revenue $ 1,262.3 $ 954.8
COST OF REVENUE:    
Total cost of revenue 307.8 253.8
GROSS PROFIT:    
Total gross profit 954.5 701.0
OPERATING EXPENSES:    
Research and development 151.1 124.9
Sales and marketing 478.3 387.6
General and administrative 52.8 38.6
Gain on intellectual property matter (1.2) (1.1)
Total operating expenses 681.0 550.0
OPERATING INCOME 273.5 151.0
INTEREST INCOME 20.6 1.3
INTEREST EXPENSE (5.0) (4.5)
OTHER INCOME (EXPENSE)—NET 2.0 (9.1)
INCOME BEFORE INCOME TAXES AND LOSS FROM EQUITY METHOD INVESTMENT 291.1 138.7
PROVISION FOR (BENEFIT FROM) INCOME TAXES 21.3 (8.1)
LOSS FROM EQUITY METHOD INVESTMENT (22.1) (8.5)
NET INCOME INCLUDING NON-CONTROLLING INTERESTS 247.7 138.3
LESS: NET LOSS ATTRIBUTABLE TO NON-CONTROLLING INTERESTS, NET OF TAX 0.0 (0.1)
NET INCOME ATTRIBUTABLE TO FORTINET, INC. $ 247.7 $ 138.4
Net income per share attributable to Fortinet, Inc. (Note 9):    
Basic (in dollars per share) $ 0.32 $ 0.17
Diluted (in dollars per share) $ 0.31 $ 0.17
Weighted-average shares used to compute net income per share attributable to Fortinet, Inc.:    
Basic (in shares) 783.2 803.4
Diluted (in shares) 793.4 820.8
Product    
REVENUE:    
Total revenue $ 500.7 $ 371.0
COST OF REVENUE:    
Total cost of revenue 193.6 161.0
GROSS PROFIT:    
Total gross profit 307.1 210.0
Service    
REVENUE:    
Total revenue 761.6 583.8
COST OF REVENUE:    
Total cost of revenue 114.2 92.8
GROSS PROFIT:    
Total gross profit $ 647.4 $ 491.0