Net Income Per Share

12 Months Ended

Jan. 03, 2020

NET INCOME PER SHARE

Net income per share - basic and diluted, were computed as follows (in thousands, except per share amounts):



	Year Ended December 31,
	2019		2018		2017
Numerator:
Net income	$	321,012	$	690,070	$	154,227
Net income allocated to participating securities	—		—		(367		)
Net income allocable to common stock - basic	321,012		690,070		153,860
Adjustment to net income allocated to participating securities	—		—		22
Net income allocable to common stock - diluted	$	321,012	$	690,070	$	153,882
Denominator:
Weighted-average common shares outstanding - basic	302,584		297,892		293,588
Dilutive effect of employee stock plans	12,425		14,911		18,415
Weighted-average common shares outstanding - diluted	315,009		312,803		312,003
Net income per share - basic	$	1.06	$	2.32	$	0.52
Net income per share - diluted	$	1.02	$	2.21	$	0.49

Participating securities included warrants issued in January 2014 to purchase an aggregate of 1.0 million shares of our common stock that were fully exercised in September 2017.

Dilutive securities included outstanding stock options, unvested RSUs and ESPP contributions. Certain potential common shares were excluded from our calculation of weighted-average common shares outstanding - diluted because either they would have had an anti-dilutive effect on net income per share or they are related to shares from PSOs and PSUs that were contingently issuable and the contingency had not been satisfied. See to “Note 8. Employee Benefit Plans” for a further description of our equity awards. These potential common shares were as follows (in thousands):



	Year Ended December 31,
	2019	2018	2017
Anti-dilutive securities and contingently issuable shares excluded	9,111	3,968	1,645