Net Income Per Share

3 Months Ended

Mar. 31, 2022

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


	Three Months Ended March 31,
	2022		2021 (1)
Numerator:

Net income	$	272,259	$	180,366






Denominator:



Weighted-average shares used in computing net income per share, basic	308,045		305,224
Add weighted-average effect of dilutive securities:
Stock options and RSUs	11,322		13,116
Employee stock purchase plan	285		152
Weighted-average shares used in computing net income per share, diluted	319,652		318,492
Net income per share:
Basic	$	0.88	$	0.59
Diluted	$	0.85	$	0.57

(1) Prior periods have been adjusted to reflect the four-for-one stock split effected in the form of a stock dividend in November 2021.

The following weighted-average outstanding shares of common stock equivalents were excluded from the computation of diluted net income per share for the periods presented because their effect would have been anti-dilutive for the periods presented (in thousands):


	Three Months Ended March 31,
	2022	2021 (1)
Stock options and RSUs	64	520
Employee stock purchase plan	16	40
Total	80	560

(1) Prior periods have been adjusted to reflect the four-for-one stock split effected in the form of a stock dividend in November 2021.