Net Income (Loss) per Share (Tables)

12 Months Ended

Dec. 31, 2022

Earnings Per Share [Abstract]

Computation of Basic and Diluted Net Income (Loss) Per Share

The following table sets forth the computation of basic and diluted net income (loss) per share (in millions, except per share data):

	Year Ended December 31,
	2022			2021			2020
Net income (loss) (Numerator):
Net income (loss)	$	(267	)	$	53		$	(123	)
Weighted-average shares (Denominator):
Outstanding		72.0			70.3			56.4
Less: Subject to vesting		-			(1.0	)		(1.6	)
Weighted-average shares for basic EPS		72.0			69.3			54.8
Effect of dilutive securities		-			4.7			-
Weighted-average shares for diluted EPS		72.0			74.0			54.8
Net income (loss) per share
Basic	$	(3.71	)	$	0.76		$	(2.24	)
Diluted	$	(3.71	)	$	0.71		$	(2.24	)

Summary of Outstanding Potentially Dilutive Securities Excluded from Computation of Diluted Net Income (Loss) per Share

The following table summarizes potentially dilutive securities excluded from the computation of diluted net income (loss) per share calculations because they would have been antidilutive (in millions):

	At December 31,
	2022		2021		2020
Common stock options issued and outstanding		12.0		4.5		9.9
Restricted stock units issued		1.3		-		0.7
Unvested early exercised common stock options		-		-		0.2
Employee Stock Purchase Plan shares		0.2		0.1		-
Unvested restricted stock issued as part of collaboration agreement		-		-		1.3
Total		13.5		4.6		12.1