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Earnings Per Share | 6 Months Ended
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Jun. 30, 2024
Earnings Per Share [Abstract] |
Earnings Per Share | Note 3—Earnings Per Share The Company has two classes of common stock, Class A and Class B. Basic and diluted earnings per share 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. Basic earnings per share is calculated by dividing net income by the weighted-average number of shares of common stock outstanding. Diluted earnings per share is calculated by dividing net income by the weighted-average number of shares of common stock outstanding adjusted for the potentially dilutive impact of stock options, restricted stock and the Employee Stock Purchase Plan (“ESPP”), using the two-class method required for participating securities. Restricted stock awards are considered to be participating securities due to their non-forfeitable dividend rights. The computation of basic and diluted earnings per share is as follows (in thousands, except per share amounts):
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Numerator: |  |  |  |  |  |  |
Net income | $ | 85,029 |  |  | $ | 32,939 |  |  | $ | 116,689 |  |  | $ | 42,265 |
Denominator: |  |  |  |  |  |  |
Weighted-average shares outstanding—basic | 489,353 |  |  | 488,431 |  |  | 488,952 |  |  | 489,068 |
Effect of dilutive securities | 10,687 |  |  | 10,918 |  |  | 10,165 |  |  | 10,502 |
Weighted-average shares outstanding—diluted | 500,040 |  |  | 499,349 |  |  | 499,117 |  |  | 499,570 |
Basic earnings per share | $ | 0.17 |  |  | $ | 0.07 |  |  | $ | 0.24 |  |  | $ | 0.09 |
Diluted earnings per share | $ | 0.17 |  |  | $ | 0.07 |  |  | $ | 0.23 |  |  | $ | 0.08 |
Anti-dilutive equity awards under stock-based award plans excluded from the determination of diluted earnings per share | 2,480 |  |  | 7,578 |  |  | 2,480 |  |  | 7,578 |

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/260/tableOfContent Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-2 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-3 + Details
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