EARNINGS PER COMMON SHARE

3 Months Ended

Mar. 31, 2023

EARNINGS PER COMMON SHAREPotentially issuable shares of common stock include shares issuable upon the exercise of outstanding employee stock option awards, common stock issuable under the ESPP, unvested RSUs and contingent issuances of common stock related to the Company’s convertible debt.

The following table sets forth the computation of basic and diluted earnings per common share (common shares in thousands):


	Three Months Ended March 31,
		2023		2022
Numerator:
Net Income, basic		$	50,852	$	120,798
Add: Interest expense, net of tax, on the Notes		937		2,763
Net Income, diluted		$	51,789	$	123,561
Denominator:
Weighted-average common shares outstanding, basic		186,667		183,990
Effect of dilutive securities:
Issuances under equity incentive plans		3,726		2,561
Common stock issuable under the Notes		3,970		8,335
Weighted-average common shares outstanding, diluted		194,363		194,886
Earnings per common share, basic		$	0.27	$	0.66
Earnings per common share, diluted		$	0.27	$	0.63

In addition to the equity instruments included in the table above, the table below presents potential shares of common stock that were excluded from the computation of diluted earnings per common share as they were anti-dilutive (in thousands):


	Three Months Ended March 31,
		2023	2022
Issuances under equity incentive plans		8,610	10,927
Common stock issuable under the Notes		4,365	—
Total number of potentially issuable shares		12,975	10,927