Net Income Per Share Available to Common Stock (Tables)

12 Months Ended

Dec. 31, 2016

Schedule of Basic and Diluted Net Income Per Share Available to Common Stock

The following table sets forth the computation of our basic and diluted net income per share available to common stock (in thousands, except per share amounts):



	Year Ended December 31,
	2016			2015			2014
Numerator:
Basic:
Net income	$	184,189		$	121,102		$	86,850
Less: undistributed earnings allocated to participating securities	(1,224		)	(1,987		)	(17,961		)
Net income available to common stockholders, basic	$	182,965		$	119,115		$	68,889
Diluted:
Net income attributable to common stockholders, basic	$	182,965		$	119,115		$	68,889
Add: undistributed earnings allocated to participating securities	74			149			1,635
Net income attributable to common stockholders, diluted	$	183,039		$	119,264		$	70,524
Denominator:
Basic:
Weighted-average shares used in computing net income per share available to common stockholders, basic	68,771			65,964			48,427
Diluted:
Weighted-average shares used in computing net income per share available to common stockholders, basic	68,771			65,964			48,427
Add weighted-average effect of dilutive securities:
Stock options, RSUs and RSAs	4,408			5,363			6,059
Employee stock purchase plan	43			84			104
Stock purchase rights	—			—			—
Weighted-average shares used in computing net income per share available to common stockholders, diluted	73,222			71,411			54,590
Net income per share attributable to common stockholders:
Basic	$	2.66		$	1.81		$	1.42
Diluted	$	2.50		$	1.67		$	1.29

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

The following outstanding shares of common stock equivalents were excluded from the computation of diluted net income per share available to common stockholders for the periods presented because including them would have been anti-dilutive (in thousands):



	Year Ended December 31,
	2016	2015	2014
Stock options and RSUs to purchase common stock	2,594	2,427	1,263