Net Income Per Share

6 Months Ended

Sep. 30, 2020

The following table summarizes the computations of basic and diluted net income per share for the three and six months ended September 30, 2020 and September 30, 2019 (in thousands, except per share amounts):



	Three Months Ended September 30,				Six Months Ended September 30,
	2020		2019		2020		2019
Net income	$	266,914	$	72,933	$	338,987	$	118,278

Shares used in net income per share computation:
Weighted average shares outstanding - basic	168,645		166,662		168,140		166,484
Effect of potentially dilutive equivalent shares	2,737		2,365		2,626		2,430
Weighted average shares outstanding - diluted	171,382		169,027		170,766		168,914

Net income per share:
Basic	$	1.58	$	0.44	$	2.02	$	0.71
Diluted	$	1.56	$	0.43	$	1.99	$	0.70

Share equivalents attributable to outstanding stock options, restricted stock units ("RSUs") and employee share purchase plan ("ESPP") rights totaling 0.4 million and 1.9 million for the three months ended September 30, 2020 and 2019, respectively, and 0.4 million and 2.0 million for the six months ended September 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 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 were the end of the performance contingency period.