Net Income per Share

12 Months Ended

Mar. 31, 2020

The computations of basic and diluted net income per share for the Company were as follows (in thousands except per share amounts):



	Years Ended March 31,
	2020		2019		2018
Net Income	$	449,723	$	257,573	$	208,542

Shares used in net income per share computation:
Weighted average shares outstanding - basic	166,837		165,609		164,038
Effect of potentially dilutive equivalent shares	2,544		3,356		4,933
Weighted average shares outstanding - diluted	169,381		168,965		168,971

Net income per share:
Basic	$	2.70	$	1.56	$	1.27
Diluted	$	2.66	$	1.52	$	1.23

Share equivalents attributable to outstanding stock options, restricted stock units ("RSUs") and employee share purchase rights (ESPP) totaling 1.7 million, 1.8 million and 1.1 million, respectively, during fiscal years 2020, 2019 and 2018 were excluded from the calculation of diluted net income per share because the combined exercise price and average unamortized grant date fair value of these options and ESPP or vesting of RSUs were greater than the average market price of the Company's shares during the periods presented herein, and therefore their inclusion would have been anti-dilutive. The majority of performance-based awards were excluded because all necessary conditions have not been satisfied by the end of the respective period, and those shares were not issuable if the end of the reporting period were the end of the contingency period.