Net Income per Share (Tables)

3 Months Ended

Mar. 31, 2022

Earnings Per Share Reconciliation [Abstract]

Schedule of Components Used in Diluted and Basic Income Per Common Share

The following table sets forth the components used in the computation of basic and diluted net income per share for the three months ended March 31, 2022 and 2021 (in thousands, except per share data):

 

	For the Three Months Ended March 31,
	2022		2021
Numerator:
Net income	$	119,163	$	155,695
Denominator:
Shares used for basic net income per share	160,494		163,061
Effect of dilutive securities:
Stock options	1		5
RSUs and DSUs	1,320		1,667
Convertible senior notes	1,822		955
Warrants related to issuance of convertible senior notes	—		—
Shares used for diluted net income per share	163,637		165,688
Basic net income per share	$	0.74	$	0.95
Diluted net income per share	$	0.73	$	0.94

Schedule of Shares Excluded from Computation of Diluted Net Income Per Share

The number of potentially outstanding common shares excluded from the computation of diluted net income per share for the three months ended March 31, 2022 and 2021 are as follows (in thousands):

	For the Three Months Ended March 31,
	2022	2021
Service-based RSUs	2,234	2,070
Market- and performance-based RSUs	1,054	1,338
Convertible senior notes	—	9,898
Warrants related to issuance of convertible senior notes	21,991	21,991
Total shares excluded from computation	25,279	35,297