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Net Income Per Share (Tables)

9 Months Ended

Sep. 30, 2021

Earnings Per Share [Abstract]

Schedule of computation of basic and diluted earnings per share of common stock

The computation of net income per share is as follows:

			Three Months Ended September 30,												Nine Months Ended September 30,
			2021						2020						2021						2020
(in thousands, except share and per share amounts)
Basic earnings per share:
Net income			$	30,005					$	45,211					$	128,549					$	93,130
Shares used in computation:
Weighted-average common shares outstanding, basic			208,988,168						208,116,104						208,169,736						208,116,104
Earnings per share, basic			$	0.14					$	0.22					$	0.62					$	0.45
Diluted earnings per share:
Net income			$	30,005					$	45,211					$	128,549					$	93,130
Shares used in computation:
Weighted-average common shares outstanding, basic			208,988,168						208,116,104						208,169,736						208,116,104
Weighted-average effect of potentially dilutive securities:
Unvested common stock subject to forfeiture			12,326,206						—						8,572,134						—
Employee stock options			1,290,101						—						732,824						—
Restricted stock units			1,726,564						—						991,288						—
Underwriters’ option to purchase additional shares			—						—						25,132						—
Diluted weighted-average common shares outstanding			224,331,039						208,116,104						218,491,114						208,116,104
Diluted net income per share			$	0.13					$	0.22					$	0.59					$	0.45

Schedule of antidilutive securities excluded from computation of earnings per share

The following potentially dilutive shares were excluded from the computation of diluted earnings per share for the periods presented because including them would have had an anti-dilutive effect:

			Three Months Ended September 30,												Nine Months Ended September 30,
			2021						2020						2021						2020
Restricted stock units			236,000						—						236,000						—

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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
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

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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
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

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