| EARNINGS PER COMMON SHARE |
EARNINGS PER COMMON SHARE Potentially issuable shares of common stock include shares issuable upon the exercise of outstanding employee stock option awards, common stock issuable under the ESPP, unvested RSUs and contingent issuances of common stock related to the Company’s convertible debt. The following table sets forth the computation of basic and diluted earnings per common share (common shares in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | | 2026 | | 2025 | | 2026 | | 2025 | | Numerator: | | | | | | | | Net income, basic | $ | 44,762 | | | $ | 240,532 | | | $ | 150,289 | | | $ | 426,218 | | | Add: Interest expense, net of tax, on the Company's convertible debt | — | | | 1,833 | | | — | | | 3,665 | | Net income, diluted | $ | 44,762 | | | $ | 242,365 | | | $ | 150,289 | | | $ | 429,883 | | | Denominator: | | | | | | | | | Weighted-average common shares outstanding, basic | 193,423 | | | 191,907 | | | 192,959 | | | 191,440 | | | Effect of dilutive securities: | | | | | | | | | Common stock issuable under the Company's equity incentive plans | 1,044 | | | 819 | | | 1,188 | | | 838 | | Common stock issuable under the Company’s convertible debt | — | | | 4,365 | | | — | | | 4,365 | | | Weighted-average common shares outstanding, diluted | 194,467 | | | 197,091 | | | 194,147 | | | 196,643 | | Earnings per common share, basic | $ | 0.23 | | | $ | 1.25 | | | $ | 0.78 | | | $ | 2.23 | | Earnings per common share, diluted | $ | 0.23 | | | $ | 1.23 | | | $ | 0.77 | | | $ | 2.19 | |
In addition to the equity instruments included in the table above, the table below presents potential shares of common stock that were excluded from the computation of diluted earnings per common share as they were anti-dilutive (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | | 2026 | | 2025 | | 2026 | | 2025 | | Common stock issuable under the Company's equity incentive plans | 13,284 | | | 11,815 | | | 13,140 | | | 11,795 | | Common stock issuable under the Company’s convertible debt | 4,365 | | | — | | | 4,365 | | | — | | | Total number of potentially issuable shares | 17,649 | | | 11,815 | | | 17,505 | | | 11,795 | |
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