NET INCOME PER SHARE (Tables)

12 Months Ended

Dec. 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 years ended December 31, 2020, 2019 and 2018:

	Year Ended December 31,
(In thousands except per share data)	2020		2019			2018
Numerator:
Net income attributable to Innoviva stockholders, basic	$	224,402	$	157,288	$	395,056
Add: interest expense on 2023 Notes		4,717		4,648		5,661
Net income attributable to Innoviva stockholders, diluted	$	229,119	$	161,936	$	400,717
Denominator:
Weighted-average shares used to compute basic net income per share attributable to Innoviva stockholders		101,320		101,150		100,849
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		45		70		370
Weighted-average shares used to compute diluted net income per share attributable to Innoviva stockholders		113,554		113,409		113,408
Net income per share attributable to Innoviva stockholders
Basic	$	2.21	$	1.55	$	3.92
Diluted	$	2.02	$	1.43	$	3.53

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)	2020	2019	2018
Outstanding options and awards granted under equity incentive plan and employee stock purchase plan	1,193	1,130	1,490