Net Income Per Share Available to Common Stock

9 Months Ended

Sep. 30, 2016

Earnings Per Share [Abstract]

Net Income Per Share Available to Common Stock

Net Income Per Share Available to Common Stock

The following table sets forth the computation of our basic and diluted net income per share available to common stock (in thousands, except per share amounts):

	Three Months Ended September 30,						Nine Months Ended September 30,
	2016			2015			2016			2015
Numerator:
Basic:
Net income	$	51,257		$	28,690		$	125,406		$	77,178
Less: undistributed earnings allocated to participating securities	(295		)	(389		)	(931		)	(1,314		)
Net income available to common stockholders, basic	$	50,962		$	28,301		$	124,475		$	75,864
Diluted:
Net income attributable to common stockholders, basic	$	50,962		$	28,301		$	124,475		$	75,864
Add: undistributed earnings allocated to participating securities	18			28			56			$	103
Net income attributable to common stockholders, diluted	$	50,980		$	28,329		$	124,531		$	75,967
Denominator:
Basic:
Weighted-average shares used in computing net income per share available to common stockholders, basic	69,076			66,629			68,365			65,609
Diluted:
Weighted-average shares used in computing net income per share available to common stockholders, basic	69,076			66,629			68,365			65,609
Add weighted-average effect of dilutive securities:
Stock options and RSUs	4,357			5,163			4,429			5,529
Employee stock purchase plan	20			95			17			94
Weighted-average shares used in computing net income per share available to common stockholders, diluted	73,453			71,887			72,811			71,232
Net income per share attributable to common stockholders:
Basic	$	0.74		$	0.42		$	1.82		$	1.16
Diluted	$	0.69		$	0.39		$	1.71		$	1.07

The following outstanding shares of common stock equivalents were excluded from the computation of diluted net income per share available to common stockholders for the periods presented because including them would have been anti-dilutive (in thousands):

	Three Months Ended September 30,		Nine Months Ended September 30,
	2016	2015	2016	2015
Stock options and RSUs to purchase common stock	2,688	2,544	3,215	2,275