Net Income Per Share

12 Months Ended

Dec. 31, 2023

Basic net income per share is computed using the weighted-average number of shares of common stock outstanding during the period. Diluted net income per share is computed using the weighted-average number of shares of common stock outstanding during the period, including potential common shares assuming the dilutive effect of outstanding stock options, restricted stock units, and the employee stock purchase plan using the treasury stock method. Potential common shares whose effect would have been antidilutive are excluded from the computation of diluted net income per share. The following table sets forth the computation of our basic and diluted net income per share attributable to common stockholders (in thousands, except per share amounts):


	Year Ended December 31,
	2023		2022		2021
Net income	$	2,087,321	$	1,352,446	$	840,854
Basic weighted-average shares outstanding	309,354		306,473		306,512
Add weighted-average effects of dilutive securities:
Stock options and RSUs	7,724		9,876		12,464
Employee stock purchase plan	57		110		262
Diluted weighted-average shares outstanding	317,135		316,459		319,238
Net income per share:
Basic	$	6.75	$	4.41	$	2.74
Diluted	$	6.58	$	4.27	$	2.63

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


	Year Ended December 31,
	2023	2022	2021
Stock options and RSUs	145	302	298
Employee stock purchase plan	103	200	37
Total	248	502	335