Net Income Per Share Attributable to Common Stockholders

6 Months Ended

Apr. 02, 2022

Net Income Per Share Attributable to Common Stockholders

11. Net Income Per Share Attributable to Common Stockholders

Basic net income per share attributable to common stockholders is calculated by dividing net income attributable to common stockholders by the weighted-average number of shares of common stock outstanding less shares subject to repurchase. Diluted net income per share attributable to common stockholders adjusts the basic net income per share attributable to common stockholders and the weighted-average number of shares of common stock outstanding for the potentially dilutive impact of stock awards, using the treasury stock method.

The following table sets forth the computation of the Company’s basic and diluted net income per share attributable to common stockholders:


	Three Months Ended				Six Months Ended
	April 2, 2022		April 3, 2021		April 2, 2022		April 3, 2021
(In thousands, except share and per share data)
Numerator:
Net income attributable to common stockholders - basic and diluted	$	8,566	$	17,221	$	132,047	$	149,513
Denominator:
Weighted-average shares of common stock—basic		128,112,234		121,880,615		127,887,530		118,745,569
Effect of potentially dilutive stock options		6,367,917		12,040,149		7,265,077		10,073,032
Effect of RSUs		4,976,580		9,105,551		5,641,563		8,016,629
Effect of PSUs		185,839		29,231		188,339		14,616
Weighted-average shares of common stock—diluted		139,642,570		143,055,546		140,982,509		136,849,846
Net income per share attributable to common stockholders:
Basic	$	0.07	$	0.14	$	1.03	$	1.26
Diluted	$	0.06	$	0.12	$	0.94	$	1.09

The following potentially dilutive shares were excluded from the computation of diluted net income per share attributable to common stockholders because including them would have been antidilutive:


	Three Months Ended				Six Months Ended
	April 2, 2022		April 3, 2021		April 2, 2022		April 3, 2021
Stock options to purchase common stock		6,360,832		7,523,579		6,099,887		12,299,023
Restricted stock units		5,024,253		3,219,598		4,277,081		4,354,744
Performance stock units		115,668		44,217		113,169		22,109
Total		11,500,753		10,787,394		10,490,137		16,675,876