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NET INCOME PER SHARE
 9 Months Ended
Sep. 30, 2023
Earnings Per Share [Abstract]  
NET INCOME PER SHARE NET INCOME PER SHARE
Basic net income per share is computed by dividing net income by the weighted average number of shares of common stock outstanding during the period. Diluted net income per share is computed in a similar manner, but it also includes the effect of potential common shares outstanding during the period, when dilutive. Potential common shares include stock options, RSUs, PSUs, shares to be purchased under the Company’s ESPP, the Notes due 2023, Notes due 2025, Notes due 2026, Notes due 2028 and the 2025 Warrants. Refer to Note 8. “Debt,” for additional information about the Company’s outstanding debt.
The following table presents the computation of basic and diluted net income per share for the periods presented:
Three Months Ended
September 30,		Nine Months Ended
September 30,
2023202220232022
(In thousands, except per share data)
Numerator:
Net income$113,953 $114,812 $418,017 $243,609 
Convertible senior notes interest and financing costs, net1,655 1,623 4,910 1,966 
Adjusted net income$115,608 $116,435 $422,927 $245,575 
Denominator:
Shares used in basic per share amounts:
Weighted average common shares outstanding136,165 135,633 136,491 135,056 
Shares used in diluted per share amounts:
Weighted average common shares outstanding used for basic calculation136,165 135,633 136,491 135,056 
Effect of dilutive securities:
Employee stock-based awards1,307 3,344 1,907 3,433 
Notes due 2023750 900 850 900 
Notes due 20251,253 1,253 1,253 — 
2025 Warrants
313 757 505 594 
Notes due 20262,057 2,057 2,057 2,057 
Notes due 20282,018 2,018 2,018 2,018 
Weighted average common shares outstanding for diluted calculation143,863 145,962 145,081 144,058 
Basic and diluted net income per share
Net income per share, basic$0.84 $0.85 $3.06 $1.80 
Net income per share, diluted$0.80 $0.80 $2.92 $1.70 
Diluted earnings per share for the three and nine months ended September 30, 2023 and 2022 includes the dilutive effect of potentially dilutive common shares by application of the treasury stock method for stock options, RSUs, PSUs, ESPP, the 2025 Warrants, and includes potentially dilutive common shares by application of the if-converted method for the Notes due 2025, Notes due 2026 and Notes due 2028. To the extent these potential common shares are antidilutive, they are excluded from the calculation of diluted net income per share.
Further, the Company under the relevant sections of the indentures, irrevocably may elect to settle principal in cash and any excess in cash or shares of the Company’s common stock for its Notes due 2025, Notes due 2026 and Notes due 2028. If and when the Company makes such election, there will be no adjustment to the net income and the Company will use the average share price for the period to determine the potential number of shares to be issued based upon assumed conversion to be included in the diluted share count.
The following outstanding shares of common stock equivalents were excluded from the calculation of the diluted net income per share attributable to common stockholders because their effect would have been antidilutive:
Three Months Ended
September 30,		Nine Months Ended
September 30,
2023202220232022
(In thousands)
Employee stock-based awards1,533 35 1,067 249 
2028 Warrants3,620 959 2,468 1,933 
2026 Warrants3,689 978 2,515 1,970 
Notes due 2025— — — 1,253 
Total8,842 1,972 6,050 5,405