Net Income Per Share

6 Months Ended

Jun. 30, 2022

Earnings Per Share [Abstract]

Net Income Per Share

Net Income Per Share

    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 June 30,				Six Months Ended June 30,
	2022		2021 (1)		2022		2021 (1)
Numerator:
Net income	$	299,099	$	196,888	$	571,358	$	377,254
Denominator:
Weighted-average shares used in computing net income per share, basic	306,754		305,844		307,399		305,536
Add weighted-average effect of dilutive securities:
Stock options and RSUs	9,695		12,764		10,509		12,940
Employee stock purchase plan	132		232		132		232
Weighted-average shares used in computing net income per share, diluted	316,581		318,840		318,040		318,708
Net income per share:
Basic	$	0.98	$	0.64	$	1.86	$	1.23
Diluted	$	0.94	$	0.62	$	1.80	$	1.18

(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 June 30,		Six Months Ended June 30,
	2022	2021 (1)	2022	2021 (1)
Stock options and RSUs	781	404	423	460
Employee stock purchase plan	—	80	8	60
Total	781	484	431	520

(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.