Net Income Per Share Available to Common Stock

12 Months Ended

Dec. 31, 2017

Earnings Per Share [Abstract]

Net Income Per Share Available to Common Stock

7.    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,
	2017			2016			2015
Numerator:
Basic:
Net income	$	423,201		$	184,189		$	121,102
Less: undistributed earnings allocated to participating securities	(801		)	(1,224		)	(1,987		)
Net income available to common stockholders, basic	$	422,400		$	182,965		$	119,115
Diluted:
Net income attributable to common stockholders, basic	$	422,400		$	182,965		$	119,115
Add: undistributed earnings allocated to participating securities	68			74			149
Net income attributable to common stockholders, diluted	$	422,468		$	183,039		$	119,264
Denominator:
Basic:
Weighted-average shares used in computing net income per share available to common stockholders, basic	72,258			68,771			65,964
Diluted:
Weighted-average shares used in computing net income per share available to common stockholders, basic	72,258			68,771			65,964
Add weighted-average effect of dilutive securities:
Stock options, RSUs and RSAs	6,599			4,408			5,363
Employee stock purchase plan	120			43			84
Weighted-average shares used in computing net income per share available to common stockholders, diluted	78,977			73,222			71,411
Net income per share attributable to common stockholders:
Basic	$	5.85		$	2.66		$	1.81
Diluted	$	5.35		$	2.50		$	1.67

The following weighted-average 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,
	2017	2016	2015
Stock options and RSUs to purchase common stock	58	2,594	2,427