Net Income (Loss) Per Share (Tables)

12 Months Ended

Dec. 31, 2023

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,
	2023		2022		2021
Net income (loss) (Numerator):
Net income (loss)	$	(307)	$	(267)	$	53
Weighted-average shares (Denominator):
Outstanding	74.0		72.0		70.3
Less: Subject to vesting	—		—		(1.0)
Weighted-average shares for basic EPS	74.0		72.0		69.3
Effect of dilutive securities	—		—		4.7
Weighted-average shares for diluted EPS	74.0		72.0		74.0

Net income (loss) per share
Basic	$	(4.15)	$	(3.71)	$	0.76
Diluted	$	(4.15)	$	(3.71)	$	0.71

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,
	2023	2022	2021
Common stock options issued and outstanding	13.5	12.0	4.5
Restricted stock units issued	1.5	1.3	—
Employee Stock Purchase Plan shares	0.3	0.2	0.1
Total potential dilutive securities	15.3	13.5	4.6