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Net Income per Share | 12 Months Ended
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Dec. 31, 2023
Earnings Per Share [Abstract] |
Net Income per Share | Net Income per Share Basic net income per share is computed using the weighted average number of shares of common stock outstanding during the period. Diluted net income per share is computed using the weighted average number of shares of common stock, adjusted for any dilutive effect of potential common stock. Potential common stock, computed using the treasury stock method, includes RSUs, MSUs, PSUs and our ESPP. The following table sets forth the computation of basic and diluted net income per share attributable to common stock (in thousands, except per share amounts):
|  | Year Ended December 31,
|  | 2023 |  | 2022 |  | 2021
Numerator: |  |  |  |  |  |
Net income |  | $ | 445,053 |  |  | $ | 361,573 |  |  | $ | 772,020 |
Denominator: |  |  |  |  |  |
Weighted average common shares outstanding, basic |  | 76,426 |  |  | 78,190 |  |  | 78,917 |
Dilutive effect of potential common stock |  | 142 |  |  | 230 |  |  | 753 |
Total shares, diluted |  | 76,568 |  |  | 78,420 |  |  | 79,670 |
Net income per share, basic |  | $ | 5.82 |  |  | $ | 4.62 |  |  | $ | 9.78 |
Net income per share, diluted |  | $ | 5.81 |  |  | $ | 4.61 |  |  | $ | 9.69 |
Anti-dilutive potential common shares 1 |  | 293 |  |  | 320 |  |  | 1 |
1 Represents stock-based awards not included in the calculation of diluted net income per share as the effect would have been anti-dilutive.

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