Earnings Per Share

12 Months Ended

Dec. 31, 2022

Note 3—Earnings Per Share

The Company has two classes of common stock, Class A and Class B. Basic and diluted earnings per share (“EPS”) attributable to common stockholders for Class A and Class B common stock were the same because they were entitled to the same liquidation and dividend rights.

The computation of basic and diluted EPS is as follows (in thousands, except per share amounts):


	Year Ended December 31,
	2022		2021		2020
Numerator:
Net income	$	53,385	$	137,762	$	242,317
Denominator:
Weighted-average shares outstanding—basic	486,937		476,851		462,865
Effect of dilutive securities	12,988		21,689		27,016
Weighted-average shares outstanding—diluted	499,925		498,540		489,881
Basic earnings per share	$	0.11	$	0.29	$	0.52
Diluted earnings per share	$	0.11	$	0.28	$	0.49
Anti-dilutive equity awards under stock-based award plans excluded from the determination of diluted earnings per share	10,707		1,699		316