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Net Income Per Share | 12 Months Ended
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Mar. 31, 2022
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 fiscal years 2022, 2021 and 2020 (in thousands except per share amounts):
|  | Years Ended March 31,
|  | 2022 |  | 2021 |  | 2020
Net income |  | $ | 644,513 |  |  | $ | 947,257 |  |  | $ | 449,723 |
Shares used in net income per share computation: |  |  |  |  |  |
Weighted average shares outstanding - basic |  | 167,447 |  |  | 168,523 |  |  | 166,837 |
Effect of potentially dilutive equivalent shares |  | 2,967 |  |  | 3,252 |  |  | 2,544 |
Weighted average shares outstanding - diluted |  | 170,414 |  |  | 171,775 |  |  | 169,381 |
Net income per share: |  |  |  |  |  |
Basic |  | $ | 3.85 |  |  | $ | 5.62 |  |  | $ | 2.70 |
Diluted |  | $ | 3.78 |  |  | $ | 5.51 |  |  | $ | 2.66 |
Share equivalents attributable to outstanding stock options, RSUs and employee share purchase plans ("ESPP") totaling 2.0 million, 0.1 million, and 1.7 million shares during fiscal years 2022, 2021 and 2020, respectively, were excluded from the calculation of diluted net income per share because their effect would have been anti-dilutive. Except for fiscal year 2021, certain performance-based awards in the periods presented were excluded 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.

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