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Consolidated Statements of Income - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
REVENUE:      
Total revenue $ 3,342.2 $ 2,594.4 $ 2,163.0
COST OF REVENUE:      
Total cost of revenue 783.0 570.0 505.9
GROSS PROFIT:      
Total gross profit 2,559.2 2,024.4 1,657.1
OPERATING EXPENSES:      
Research and development 424.2 341.4 277.1
Sales and marketing 1,345.7 1,071.9 926.9
General and administrative 143.5 119.5 102.1
Gain on intellectual property matter (4.6) (40.2) 0.0
Total operating expenses 1,908.8 1,492.6 1,306.1
OPERATING INCOME 650.4 531.8 351.0
INTEREST INCOME 4.5 17.7 42.5
INTEREST EXPENSE (14.9) 0.0 0.0
OTHER EXPENSE—NET (11.6) (7.8) (7.5)
INCOME BEFORE INCOME TAXES AND LOSS FROM EQUITY METHOD INVESTMENT 628.4 541.7 386.0
PROVISION FOR INCOME TAXES 14.1 53.2 54.3
LOSS FROM EQUITY METHOD INVESTMENT (7.6) 0.0 0.0
NET INCOME INCLUDING NON-CONTROLLING INTERESTS 606.7 488.5 331.7
LESS: NET LOSS ATTRIBUTABLE TO NON-CONTROLLING INTERESTS, NET OF TAX (0.1) 0.0 0.0
NET INCOME ATTRIBUTABLE TO FORTINET, INC. $ 606.8 $ 488.5 $ 331.7
Net income per share attributable to Fortinet, Inc. (Note 9):      
Basic (in dollars per share) $ 3.72 $ 2.98 $ 1.94
Diluted (in dollars per share) $ 3.63 $ 2.91 $ 1.90
Weighted-average shares used to compute net income per share attributable to Fortinet, Inc.:      
Basic (in shares) 163.2 164.2 171.0
Diluted (in shares) 167.1 167.7 175.0
Product      
REVENUE:      
Total revenue $ 1,255.0 $ 916.4 $ 788.5
COST OF REVENUE:      
Total cost of revenue 487.7 352.4 324.6
GROSS PROFIT:      
Total gross profit 767.3 564.0 463.9
Service      
REVENUE:      
Total revenue 2,087.2 1,678.0 1,374.5
COST OF REVENUE:      
Total cost of revenue 295.3 217.6 181.3
GROSS PROFIT:      
Total gross profit $ 1,791.9 $ 1,460.4 $ 1,193.2