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Net Income Per Share (Tables)

6 Months Ended

Jun. 30, 2024

Earnings Per Share [Abstract]

Schedule of Numerators and Denominators of Basic and Diluted EPS Computations

The numerators and denominators of the basic and diluted EPS computations for the Company's common stock are calculated as follows (in millions, except for per share amounts):

			Three Months Ended June 30,
			2024												2023
			Class A						Class B						Class A						Class B
Basic net income per share:
Numerator
Net income attributable to common stockholders			$	83.1					$	27.4					$	32.9					$	10.3
Denominator
Weighted-average number of common shares outstanding used in computing basic net income per share			242.5						79.9						260.0						81.4
Net income per common share, basic			$	0.34					$	0.34					$	0.13					$	0.13
Diluted net income per share:
Numerator
Net income attributable to common stockholders			$	83.1					$	27.4					$	32.9					$	10.3
Reallocation of net income as a result of conversion of Class B to Class A common stock			27.4						—						10.3						—
Reallocation of net income to Class B common stock			—						(0.2)						—						(0.1)
Net income attributable to common stockholders for diluted EPS			$	110.5					$	27.2					$	43.2					$	10.2
Denominator
Weighted-average number of common shares outstanding used in computing basic net income per share			242.5						79.9						260.0						81.4
Weighted-average effect of dilutive restricted stock units and awards and employee stock options			1.3						—						2.4						—
Conversion of Class B to Class A common stock			79.9						—						81.4						—
Weighted-average number of common shares outstanding used in computing diluted net income per share			323.7						79.9						343.8						81.4
Net income per common share, diluted			$	0.34					$	0.34					$	0.13					$	0.13

			Six Months Ended June 30,
			2024												2023
			Class A						Class B						Class A						Class B
Basic net income per share:
Numerator
Net income attributable to common stockholders			$	183.5					$	59.3					$	85.6					$	26.6
Denominator
Weighted-average number of common shares outstanding used in computing basic net income per share			248.4						80.2						262.6						81.6
Net income per common share, basic			$	0.74					$	0.74					$	0.33					$	0.33
Diluted net income per share:
Numerator
Net income attributable to common stockholders			$	183.5					$	59.3					$	85.6					$	26.6
Reallocation of net income as a result of conversion of Class B to Class A common stock			59.3						—						26.6						—
Reallocation of net income to Class B common stock			—						(0.7)						—						(0.2)
Net income attributable to common stockholders for diluted EPS			$	242.8					$	58.6					$	112.2					$	26.4
Denominator
Weighted-average number of common shares outstanding used in computing basic net income per share			248.4						80.2						262.6						81.6
Weighted-average effect of dilutive restricted stock units and awards and employee stock options			3.8						—						2.6						—
Conversion of Class B to Class A common stock			80.2						—						81.6						—
Weighted-average number of common shares outstanding used in computing diluted net income per share			332.4						80.2						346.8						81.6
Net income per common share, diluted			$	0.73					$	0.73					$	0.32					$	0.32

Schedule of Weighted-Average Impact of Potentially Dilutive Securities

The weighted-average impact of potentially dilutive securities that were not included in the diluted per share calculations because they would be anti-dilutive was as follows:

			Three Months Ended June 30,												Six Months Ended June 30,
			2024						2023						2024						2023
Restricted stock units and awards			18.9						15.4						4.6						15.7
Options to purchase shares of common stock			—						0.1						—						0.1
Co-Founder Grant			8.3						8.3						8.3						8.3
Convertible Senior Notes			37.8						37.8						37.8						37.8
Warrants			37.8						37.8						37.8						37.8
Total			102.8						99.4						88.5						99.7

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- References

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- Definition

Tabular disclosure of securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) in the future that were not included in the computation of diluted EPS because to do so would increase EPS amounts or decrease loss per share amounts for the period presented, by antidilutive securities.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482662/260-10-50-1

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- Definition

Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482662/260-10-50-1

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