Net Income Per Share (Tables)

12 Months Ended

Dec. 31, 2020

Calculation of Basic and Diluted Net Income Per Share

The following table sets forth the calculation of basic and diluted net income per share:


	Years Ended December 31,
	2020		2019		2018
	(in thousands, except per share data)
Net income per share:
Numerator—basic:
Net income attributable to Switch, Inc.—basic	$	15,539	$	8,917	$	4,052
Numerator—diluted:
Net income attributable to Switch, Inc.—basic	$	15,539	$	8,917	$	4,052
Effect of dilutive securities:
Shares of Class B and Class C common stock	17,651		17,339		—
Net income attributable to Switch, Inc.—diluted	$	33,190	$	26,256	$	4,052
Denominator—basic:
Weighted average shares outstanding—basic	105,822		76,501		45,682
Net income per share—basic	$	0.15	$	0.12	$	0.09
Denominator—diluted:
Weighted average shares outstanding—basic	105,822		76,501		45,682
Weighted average effect of dilutive securities:
Stock options	1,391		712		50
RSUs	1,200		805		6
DEUs	39		24		8
RSAs	37		35		7
Shares of Class B and Class C common stock	135,012		168,252		—
Weighted average shares outstanding—diluted	243,501		246,329		45,753
Net income per share—diluted	$	0.14	$	0.11	$	0.09

Potentially Dilutive Securities Excluded from the Computation of Diluted Net Income Per Share

The following table presents potentially dilutive securities excluded from the computation of diluted net income per share for the periods presented because their effect would have been anti-dilutive.


	Years Ended December 31,
	2020	2019	2018
	(in thousands)
Stock options(1)	5,762	5,040	7,352
RSUs(1)	28	—	2,228

Shares of Class B and Class C common stock(2)	—	—	191,426

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(1)Represents the number of instruments outstanding at the end of the period. Application of the treasury stock method would reduce this amount if they had a dilutive effect and were included in the computation of diluted net income per share.

(2)Shares of Class B and Class C common stock at the end of the period are considered potentially dilutive shares of Class A common stock under application of the if-converted method.