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Net Income Per Share
9 Months Ended
Sep. 30, 2018
Earnings Per Share [Abstract]  
Net Income Per Share
Note 10—Net Income Per Share
The following table presents the calculation of basic and diluted net income per share for periods presented (in thousands except share and per share amounts):
 
Three Months Ended 
 September 30,
 
Nine Months Ended 
 September 30,
 
2018
 
2017
 
2018
 
2017
Numerator:
 
 
 
 
 
 
 
Net income
$
19,894

 
$
25,802

 
$
36,240

 
$
37,050

Net income allocated to participating securities under the two-class method
(10
)
 
(25
)
 
(17
)
 
(37
)
Net income applicable to common stockholders—basic
19,884

 
25,777

 
36,223

 
37,013

Dilutive effect of net income allocated to participating securities under the two-class method
10

 
25

 
17

 
37

Change in fair value of liability classified restricted stock

 

 

 
771

Net income attributable to common stockholders—diluted
$
19,894

 
$
25,802

 
$
36,240

 
$
37,821

 
 
 
 
 
 
 
 
Denominator:
 
 
 
 
 
 
 
Weighted-average common shares outstanding—basic (1)
119,870,711

 
119,592,191

 
120,469,066

 
117,387,714

Common equivalent shares from options to purchase common stock and restricted stock units
4,752,871

 
2,254,792

 
4,134,016

 
2,847,662

Dilutive effect of assumed conversion of restricted stock units
2,368,406

 
1,308,104

 
1,812,373

 
1,075,915

Dilutive effect of assumed conversion of convertible debt
2,004,447

 

 

 

Dilutive effect of assumed conversion of restricted stock from acquisition
89,702

 
69,472

 
81,826

 
35,630

Weighted-average common shares outstanding—diluted
129,086,137

 
123,224,559

 
126,497,281

 
121,346,921

 
 
 
 
 
 
 
 
Net income per share attributable to common stockholders—basic
$
0.17

 
$
0.22

 
$
0.30

 
$
0.32

Net income per share attributable to common stockholders—diluted
$
0.15

 
$
0.21

 
$
0.29

 
$
0.31


(1)
57,482 shares of unvested stock are considered participating securities and are excluded from basic shares outstanding for the three and nine months ended September 30, 2018.
The following potential common shares were excluded from the calculation of diluted net income per share attributable to common stockholders because their effect would have been anti-dilutive for the periods presented:
 
Three Months Ended 
 September 30,
 
Nine Months Ended 
 September 30,
 
2018
 
2017
 
2018
 
2017
Stock options
8,166

 
2,211,038

 
467,072

 
4,980,520

Restricted stock units
52,197

 
185,472

 
1,174,618

 
792,024

Total anti-dilutive securities
60,363

 
2,396,510

 
1,641,690

 
5,772,544