XML 21 R9.htm IDEA: XBRL DOCUMENT v3.20.2
Net Income Per Share
 3 Months Ended
Jun. 30, 2020
Earnings Per Share [Abstract]  
Net Income Per Share Net Income Per Share
 
The following table summarizes the computations of basic and diluted net income per share for the three months ended June 30, 2020 and June 30, 2019 (in thousands, except per share amounts):
 
 
Three Months Ended
June 30,
 
 
2020
 
2019
Net income
 
$
72,073

 
$
45,345

 
 
 
 
 
Shares used in net income per share computation:
 
 

 
 

Weighted average shares outstanding - basic
 
167,612

 
166,302

Effect of potentially dilutive equivalent shares
 
2,515

 
2,495

Weighted average shares outstanding - diluted
 
170,127

 
168,797

 
 
 
 
 
Net income per share:
 
 

 
 

Basic
 
$
0.43

 
$
0.27

Diluted
 
$
0.42

 
$
0.27


 
Share equivalents attributable to outstanding stock options, restricted stock units ("RSUs") and employee share purchase rights (ESPP) totaling 1.4 million and 2.0 million for the three months ended June 30, 2020 and 2019, 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 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 were the end of the performance contingency period.