| Schedule of Calculation of Basic and Diluted Net Income Per Share |
The following table presents the calculation of basic and diluted net income per share for the periods presented (in thousands, except per share amounts): | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended September 30, | | Nine Months Ended September 30, | | | 2024 | | 2023 | | 2024 | | 2023 | | Numerator: | | | | | | | | | | | | | | | | | | | | | | | | | Net income | $ | 57,366 | | | $ | 87,850 | | | $ | 173,375 | | | $ | 224,302 | | | | | | | | | | | Add back interest expense, net of tax attributable to assumed conversion of convertible senior notes | 1,585 | | | 1,583 | | | 4,755 | | | 4,750 | | | | | | | | | | | | | | | | | | | Net income attributable to common stockholders—diluted | $ | 58,951 | | | $ | 89,433 | | | $ | 178,130 | | | $ | 229,052 | | | | | | | | | | | Denominator: | | | | | | | | | Weighted-average common shares outstanding—basic | 114,181 | | | 121,808 | | | 116,372 | | | 123,341 | | | | | | | | | | | Dilutive effect of outstanding stock-based compensation awards | 1,853 | | | 2,369 | | | 2,030 | | | 2,991 | | | | | | | | | | | Dilutive effect of assumed conversion of convertible senior notes (1) | 14,714 | | | 14,714 | | | 14,714 | | | 14,714 | | | | | | | | | | | Weighted-average common shares outstanding—diluted | 130,748 | | | 138,891 | | | 133,116 | | | 141,046 | | | | | | | | | | | Net income per share attributable to common stockholders—basic | $ | 0.50 | | | $ | 0.72 | | | $ | 1.49 | | | $ | 1.82 | | | Net income per share attributable to common stockholders—diluted | $ | 0.45 | | | $ | 0.64 | | | $ | 1.34 | | | $ | 1.62 | | | | | | | | | | | Outstanding stock-based compensation awards excluded from net income per diluted share because their effect would have been anti-dilutive | 7,655 | | | 6,864 | | | 7,446 | | | 6,199 | |
(1)The $1.0 billion aggregate principal amount of 0.25% Convertible Senior Notes due 2028 (the “2021 Notes”), the $650.0 million aggregate principal amount of 0.125% Convertible Senior Notes due 2027 (the “2020 Notes”), and the $649.9 million aggregate principal amount of 0.125% Convertible Senior Notes due 2026 (the “2019 Notes” and together with the 2021 Notes and 2020 Notes, the “Notes”) were dilutive for the three and nine months ended September 30, 2024 and September 30, 2023.
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