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Earnings Per Share
 12 Months Ended
Dec. 31, 2021
Earnings Per Share [Abstract]  
Earnings Per Share

Note 3—Earnings Per Share

The Company has two classes of common stock, Class A and Class B. Basic and diluted earnings per share (“EPS”) attributable to common stockholders for Class A and Class B common stock were the same because they were entitled to the same liquidation and dividend rights.

The computation of basic and diluted EPS is as follows (in thousands, except per share amounts):

 

 

 

Year Ended December 31,

 

 

 

2021

 

 

2020

 

 

2019

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$

137,762

 

 

$

242,317

 

 

$

108,318

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-average shares outstanding—basic

 

 

476,851

 

 

 

462,865

 

 

 

445,329

 

Effect of dilutive securities

 

 

21,689

 

 

 

27,016

 

 

 

32,732

 

Weighted-average shares outstanding—diluted

 

 

498,540

 

 

 

489,881

 

 

 

478,061

 

Basic EPS

 

$

0.29

 

 

$

0.52

 

 

$

0.24

 

Diluted EPS

 

$

0.28

 

 

$

0.49

 

 

$

0.23

 

Anti-dilutive equity awards under stock-based award

   plans excluded from the determination of diluted EPS

 

 

1,699

 

 

 

316

 

 

 

6,915