Net Income Per Share (Tables)

12 Months Ended

Dec. 31, 2019

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

The following table presents the calculation of basic and diluted net income per share for periods presented (in thousands, except share and per share amounts):

	Year Ended   December 31,
	2019		2018			2017
Numerator:
Net income	$	95,894	$	77,491		$	81,800
Net income allocated to participating securities under the two-class method	—		(37		)	(80		)
Net income attributable to common stockholders—basic	95,894		77,454			81,720
Dilutive effect of net income allocated to participating securities under the two-class method	—		37			80
Change in fair value of liability classified restricted stock	—		—			771
Net income attributable to common stockholders—diluted	$	95,894	$	77,491		$	82,571
Denominator:
Weighted average common shares outstanding—basic (1)	119,665,248		120,146,076			118,538,687
Dilutive effect of assumed conversion of options to purchase common stock	4,516,413		4,238,622			2,498,448
Dilutive effect of assumed conversion of restricted stock units	1,521,719		1,721,658			1,177,799
Dilutive effect of assumed conversion of convertible debt (2)	—		900,580			—
Diluted effective of assumed conversion of restricted stock from acquisition	16,693		77,849			52,739
Weighted average common shares outstanding—diluted	125,720,073		127,084,785			122,267,673
Net income per share attributable to common stockholders—basic	$	0.80	$	0.64		$	0.69
Net income per share attributable to common stockholders—diluted	$	0.76	$	0.61		$	0.68

(1) 57,482, and 114,963 shares of unvested stock are considered participating securities and are excluded from basic shares outstanding for the year ended December 31, 2018 and 2017, respectively.

(2)

Since the Company expects to settle in cash the principal outstanding under the 2019 Notes (see “Note 13—Debt”), it uses the treasury stock method when calculating the potential dilutive effect of the conversion spread on diluted net income per share, if applicable. The Company uses the if-converted method when calculating the dilutive effect of the 2018 Notes for the year ended December 31, 2019 and used the treasury stock method for the year ended December 31, 2018.

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

The following potential common shares were excluded from the calculation of diluted net income per share attributable to common stockholders because their effect would have been anti-dilutive for the periods presented:

	Year Ended   December 31,
	2019	2018	2017
Stock options	317,401	475,238	4,902,664
Restricted stock units	706,234	136,998	435,358
Convertible senior notes	9,511,993	—	—
Total anti-dilutive securities	10,535,628	612,236	5,338,022