Net income per share attributable to common stockholders (Tables)

12 Months Ended

Dec. 31, 2014

Schedule of Net Income per Share, Basic and Diluted

The following table presents the calculations of basic and diluted net income per share attributable to common stockholders:



	Year ended December 31,
(in thousands, except per share amounts)	2014						2013			2012
	Class A			Class B			Common			Common
Numerator:
Allocation of net income	$	16,647		$	111,441		$	60,578		$	32,262
Less: common stock distributed earnings	—			—			—			(84,828		)
Less: preferred stock distributed earnings, including accumulated accretion	—			—			—			(26,927		)
Less: unvested early exercised options and restricted stock distributed earnings	—			—			—			(454		)
Less: undistributed earnings allocable to:
holders of preferred stock	(2,102		)	(14,067		)	(16,521		)	—
holders of unvested early exercised options and restricted stock	(45		)	(298		)	(206		)	—
Undistributed net income (loss) attributable to common stockholders—basic	$	14,500		$	97,076		$	43,851		$	(79,947	)
Add: adjustments to net income for dilutive securities allocable to:
holders of preferred stock	2,229			1,940			2,281			—
holders of unvested early exercised options and restricted stock	48			41			28			—
Reallocation of undistributed earnings as a result of conversion of Class B to Class A	97,076			—			—			—
Reallocation of undistributed earnings to Class B shares	—			2,237			—			—
Undistributed net income (loss) attributable to common stockholders—diluted	$	113,853		$	101,294		$	46,160		$	(79,947	)
Distributed earnings to common stockholders	$	—		$	—		$	—		84,828
Denominator:
Weighted-average common shares—basic	13,575			90,878			81,018			74,226
Conversion of Class B to Class A common stock outstanding	90,878			—			—			—
Effect of potentially dilutive securities:
Stock options and RSUs	19,177			19,115			17,923			—
Weighted-average common shares—diluted	123,630			109,993			98,941			74,226
Net income per share attributable to common stockholders:
Distributed earnings—basic	$	—		$	—		$	—		$	1.15
Undistributed earnings—basic	$	1.07		$	1.07		$	0.54		$	(1.08	)
Basic net income per share	$	1.07		$	1.07		$	0.54		$	0.07
Distributed earnings—diluted	$	—		$	—		$	—		$	1.15
Undistributed earnings—diluted	$	0.92		$	0.92		$	0.47		$	(1.08	)
Diluted net income per share	$	0.92		$	0.92		$	0.47		$	0.07

Schedule of Antidilutive Securities Excluded from Computation of Net Income per Share



	Year ended December 31,
(in thousands, except per share amounts)	2014						2013			2012
	Class A			Class B			Common			Common
Numerator:
Allocation of net income	$	16,647		$	111,441		$	60,578		$	32,262
Less: common stock distributed earnings	—			—			—			(84,828		)
Less: preferred stock distributed earnings, including accumulated accretion	—			—			—			(26,927		)
Less: unvested early exercised options and restricted stock distributed earnings	—			—			—			(454		)
Less: undistributed earnings allocable to:
holders of preferred stock	(2,102		)	(14,067		)	(16,521		)	—
holders of unvested early exercised options and restricted stock	(45		)	(298		)	(206		)	—
Undistributed net income (loss) attributable to common stockholders—basic	$	14,500		$	97,076		$	43,851		$	(79,947	)
Add: adjustments to net income for dilutive securities allocable to:
holders of preferred stock	2,229			1,940			2,281			—
holders of unvested early exercised options and restricted stock	48			41			28			—
Reallocation of undistributed earnings as a result of conversion of Class B to Class A	97,076			—			—			—
Reallocation of undistributed earnings to Class B shares	—			2,237			—			—
Undistributed net income (loss) attributable to common stockholders—diluted	$	113,853		$	101,294		$	46,160		$	(79,947	)
Distributed earnings to common stockholders	$	—		$	—		$	—		84,828
Denominator:
Weighted-average common shares—basic	13,575			90,878			81,018			74,226
Conversion of Class B to Class A common stock outstanding	90,878			—			—			—
Effect of potentially dilutive securities:
Stock options and RSUs	19,177			19,115			17,923			—
Weighted-average common shares—diluted	123,630			109,993			98,941			74,226
Net income per share attributable to common stockholders:
Distributed earnings—basic	$	—		$	—		$	—		$	1.15
Undistributed earnings—basic	$	1.07		$	1.07		$	0.54		$	(1.08	)
Basic net income per share	$	1.07		$	1.07		$	0.54		$	0.07
Distributed earnings—diluted	$	—		$	—		$	—		$	1.15
Undistributed earnings—diluted	$	0.92		$	0.92		$	0.47		$	(1.08	)
Diluted net income per share	$	0.92		$	0.92		$	0.47		$	0.07

The following potentially dilutive shares of common stock subject to options, unvested stock awards and redeemable convertible preferred stock were not included in the calculation of diluted shares outstanding as the effect would have been anti-dilutive: