Net Income per Share (Tables)

9 Months Ended

Sep. 30, 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 and nine months ended September 30, 2022 and 2021 (in thousands, except per share data):

 

	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2022		2021		2022		2021
Numerator:
Net income	$	108,154	$	178,916	$	346,854	$	491,108
Denominator:
Shares used for basic net income per share	158,715		162,767		159,749		162,967
Effect of dilutive securities:
Stock options	1		3		17		19
RSUs and DSUs	352		1,520		746		1,515
Convertible senior notes	—		2,028		960		1,589
Warrants related to issuance of convertible senior notes	—		—		—		—
Shares used for diluted net income per share	159,068		166,318		161,472		166,090
Basic net income per share	$	0.68	$	1.10	$	2.17	$	3.01
Diluted net income per share	$	0.68	$	1.08	$	2.15	$	2.96

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 and nine months ended September 30, 2022 and 2021 are as follows (in thousands):

	For the Three Months Ended September 30,		For the Nine Months Ended September 30,
	2022	2021	2022	2021
Service-based RSUs	2,478	149	2,313	811
Market- and performance-based RSUs	1,022	1,189	1,032	1,248
Convertible senior notes	—	9,898	—	9,898
Warrants related to issuance of convertible senior notes	21,991	21,991	21,991	21,991
Total shares excluded from computation	25,491	33,227	25,336	33,948