NET INCOME PER SHARE (Tables)

12 Months Ended

Dec. 31, 2021

NET INCOME PER SHARE

Schedule of computation of basic and diluted net income per share

The following table shows the computation of basic and diluted net income per share for the years ended December 31, 2021, 2020 and 2019:

	Year Ended December 31,
(In thousands except per share data)	2021		2020		2019
Numerator:
Net income attributable to Innoviva stockholders, basic	$	265,854	$	224,402	$	157,288
Add: interest expense on 2023 Notes		4,736		4,717		4,648
Net income attributable to Innoviva stockholders, diluted	$	270,590	$	229,119	$	161,936
Denominator:
Weighted-average shares used to compute basic net income    per share attributable to Innoviva stockholders		82,062		101,320		101,150
Dilutive effect of 2023 Notes		12,189		12,189		12,189
Dilutive effect of options and awards granted under equity    incentive plan and employee stock purchase plan		59		45		70
Weighted-average shares used to compute diluted net income    per share attributable to Innoviva stockholders		94,310		113,554		113,409
Net income per share attributable to Innoviva stockholders
Basic	$	3.24	$	2.21	$	1.55
Diluted	$	2.87	$	2.02	$	1.43

Schedule of anti-dilutive securities

The following common stock equivalents were not included in the computation of diluted net income per share because their effect was anti‑dilutive:

	Year Ended December 31,
(In thousands)	2021		2020		2019
Outstanding options and awards granted under equity incentive    plan and employee stock purchase plan		979		1,193		1,130