Net Income Per Share

9 Months Ended

Dec. 31, 2019

The following table summarizes the computations of basic and diluted net income per share for the three and nine months ended December 31, 2019 and 2018 (in thousands, except per share amounts):



	Three Months Ended December 31,				Nine Months Ended December 31,
	2019		2018		2019		2018
Net income	$	117,525	$	112,810	$	235,803	$	215,452

Shares used in net income per share computation:
Weighted average shares outstanding - basic	167,063		165,707		166,678		165,552
Effect of potentially dilutive equivalent shares	2,622		3,200		2,495		3,414
Weighted average shares outstanding - diluted	169,685		168,907		169,173		168,966

Net income per share:
Basic	$	0.70	$	0.68	$	1.41	$	1.30
Diluted	$	0.69	$	0.67	$	1.39	$	1.28

Share equivalents attributable to outstanding stock options, restricted stock units ("RSUs"), performance stock units ("PSUs") and employee share purchase plan (ESPP) rights totaling 1.8 million and 1.3 million for the three months ended December 31, 2019 and 2018, respectively, and 1.8 million and 1.2 million for the nine months ended December 31, 2019 and 2018, respectively, were excluded from the calculation of diluted net income per share because the combined exercise price and average unamortized grant date fair value upon exercise of these options and ESPP rights 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 not included 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 was the end of the contingency period.