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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 based on the weighted average number of shares of common stock outstanding during the period. Diluted net income per share is computed based on the weighted average number of common shares outstanding plus the effect of potentially dilutive common shares outstanding during the period using the applicable methods. The potentially dilutive common shares during the years ended December 31, 2023, 2022 and 2021 include unvested and unexercised stock options, unvested time-based restricted stock units and unvested performance-based restricted stock units whose performance conditions have been satisfied. The potentially dilutive common shares during the same periods do not include performance-based restricted stock units if the performance conditions of these awards have not been satisfied. The potentially dilutive common shares are included in the calculation of diluted net income per share only when their effect is dilutive. The following table sets forth the computation of basic and diluted net income per share attributable to common stockholders for the years ended December 31, 2023, 2022 and 2021:
|  | Year Ended December 31,
|  | 2023 |  | 2022 |  | 2021
|  | (in thousands, except share and per share data)
Basic net income per share: |  |  |  |  |  |
Numerator |  |  |  |  |  |
Net income |  | $ | 22,070 |  |  | $ | 66,620 |  |  | $ | 146,082 |
Net income attributable to common stockholders |  | $ | 22,070 |  |  | $ | 66,620 |  |  | $ | 146,082 |
Denominator |  |  |  |  |  |
Basic weighted average common shares outstanding |  | 120,826,644 |  |  | 126,108,329 |  |  | 126,354,597 |
Basic net income per share attributable to common stockholders |  | $ | 0.18 |  |  | $ | 0.53 |  |  | $ | 1.16 |
Diluted net income per share: |  |  |  |  |  |
Numerator |  |  |  |  |  |
Net income attributable to common stockholders |  | $ | 22,070 |  |  | $ | 66,620 |  |  | $ | 146,082 |
Denominator |  |  |  |  |  |
Basic weighted average common shares outstanding |  | 120,826,644 |  |  | 126,108,329 |  |  | 126,354,597 |
Dilutive effect of time-based restricted stock units outstanding |  | 648,236 |  |  | 153,285 |  |  | 35,838 |
Diluted weighted average common shares outstanding |  | 121,474,880 |  |  | 126,261,614 |  |  | 126,390,435 |
Diluted net income per share attributable to common stockholders |  | $ | 0.18 |  |  | $ | 0.53 |  |  | $ | 1.16 |
The following potentially dilutive outstanding securities for the years ended December 31, 2023, 2022 and 2021 were excluded from the computation of diluted net income per share because their effect would have been anti-dilutive for the periods presented, or the issuance of such shares is contingent upon the satisfaction of certain conditions which were not satisfied by the end of the periods:
|  | Year Ended December 31,
|  | 2023 |  | 2022 |  | 2021
Unvested and unexercised stock options |  | 140,049 |  |  | 172,461 |  |  | 194,348 |
Unvested time-based restricted stock units |  | 280,702 |  |  | 411,349 |  |  | 150,000 |
Unvested performance-based restricted stock units |  | 424,675 |  |  | 159,965 |  |  | 99,289 |
Total |  | 845,426 |  |  | 743,775 |  |  | 443,637 |

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