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Net Income Per Share
9 Months Ended
Dec. 31, 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 and nine months ended December 31, 2020 and December 31, 2019 (in thousands, except per share amounts):
Three Months Ended
December 31,
Nine Months Ended
December 31,
 2020201920202019
Net income$382,523 $117,525 $721,510 $235,803 
Shares used in net income per share computation:    
Weighted average shares outstanding - basic169,050 167,063 168,448 166,678 
Effect of potentially dilutive equivalent shares3,537 2,622 2,930 2,495 
Weighted average shares outstanding - diluted172,587 169,685 171,378 169,173 
Net income per share:    
Basic$2.26 $0.70 $4.28 $1.41 
Diluted$2.22 $0.69 $4.21 $1.39 
 
Share equivalents attributable to outstanding stock options, restricted stock units ("RSUs") and employee share purchase plan ("ESPP") rights totaling 0.3 million and 1.8 million for the three months ended December 31, 2020 and 2019, respectively, and 0.4 million and 1.8 million for the nine months ended December 31, 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. A small number of performance-based awards were not included in the calculation because all necessary conditions had 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.