Net Income Per Share (Tables)

3 Months Ended

Mar. 31, 2020

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 three months ended March 31, 2020 and 2019:

	Three Months Ended March 31,
(In thousands except per share data)	2020		2019
Numerator:
Net income attributable to Innoviva stockholders, basic	$	65,437	$	33,790
Add: interest expense on 2023 Notes		1,180		1,415
Net income attributable to Innoviva stockholders, diluted	$	66,617	$	35,205
Denominator:
Weighted-average shares used to compute basic net income per share attributable to Innoviva stockholders		101,235		101,059
Dilutive effect of 2023 Notes		12,189		12,189
Dilutive effect of options and awards granted under equity incentive plan and employee stock purchase plan		85		128
Weighted-average shares used to compute diluted net income per share attributable to Innoviva stockholders		113,509		113,376
Net income per share attributable to Innoviva stockholders
Basic	$	0.65	$	0.33
Diluted	$	0.59	$	0.31

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:

	Three Months Ended March 31,
(In thousands)	2020	2019
Outstanding options and awards granted under equity incentive plan and employee stock purchase plan	1,094	1,053