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Net Income per Share | 6 Months Ended
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Jun. 30, 2024
Earnings Per Share [Abstract] |
Net Income per Share | Net Income per Share The following table sets forth the computation of basic and diluted net income per share attributable to common stockholders for the periods indicated (in millions, except per share amounts):
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2023 | 2024 |  | 2023 | 2024
Net income | $ | 650 |  | $ | 555 |  |  | $ | 767 |  | $ | 819 |
Add: convertible notes interest expense, net of tax | 1 |  | 1 |  |  | 2 |  | 2 |
Net income - diluted | $ | 651 |  | $ | 556 |  |  | $ | 769 |  | $ | 821 |
Weighted-average shares in computing net income per share attributable to Class A and Class B common stockholders: |  |  |  |  |
Basic | 635 |  | 635 |  |  | 634 |  | 636 |
Effect of dilutive securities | 30 |  | 14 |  |  | 33 |  | 15 |
Diluted | 665 |  | 649 |  |  | 667 |  | 651 |
Net income per share attributable to Class A and Class B common stockholders: |  |  |  |  |
Basic | $ | 1.02 |  | $ | 0.87 |  |  | $ | 1.21 |  | $ | 1.29 |
Diluted | $ | 0.98 |  | $ | 0.86 |  |  | $ | 1.15 |  | $ | 1.26 |
As of both June 30, 2023 and 2024, 9.6 million shares of RSUs were excluded from the table below because they are subject to performance conditions that were not achieved as of such date. Additionally, the following securities were not included in the computation of diluted shares outstanding because the effect would be anti-dilutive (in millions):
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2023 | 2024 | 2023 | 2024
Stock options | 2 |  | 2 |  |  | 2 |  | 2 |
RSUs | 7 |  | 9 |  |  | 7 |  | 9 |
Total | 9 |  | 11 |  |  | 9 |  | 11 |
Share Repurchase Program In May 2023 and February 2024, the Company announced that its board of directors approved share repurchase programs to purchase up to $2.5 billion and $6.0 billion of the Company’s Class A common stock, respectively. Share repurchases under these share repurchase programs may be made through a variety of methods, such as open market purchases, privately negotiated transactions, block trades or accelerated share repurchase transactions or by any combination of such methods. Any such repurchases will be made from time to time subject to market and economic conditions, applicable legal requirements and other relevant factors. These share repurchase programs do not obligate the Company to repurchase any specific number of shares and may be modified, suspended or terminated at any time at the Company’s discretion. During the three and six months ended June 30, 2024, the Company repurchased and subsequently retired 4.9 million and 9.6 million shares of Class A common stock for $749 million and $1.5 billion, respectively. The Company completed the repurchases authorized under the share repurchase program announced in May 2023 during the first quarter of 2024. As of June 30, 2024, the Company had $5.3 billion available to repurchase shares of Class A common stock under its share repurchase program. Class A Common Stock Warrants As of December 31, 2023, the Company had warrants outstanding to purchase 0.8 million shares of Class A common stock with an exercise price of $28.355 per share, subject to adjustment upon the occurrence of certain specified events. During the three months ended June 30, 2024, the warrants were exercised to purchase 0.8 million shares of Class A common stock. The warrants were exercised on a cashless basis, resulting in the issuance of 0.7 million shares of the Class A common stock. As of June 30, 2024, there were no outstanding warrants.

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