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Net Income Per Share | 9 Months Ended
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Dec. 31, 2023
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, 2023 and 2022 (in thousands, except per share amounts):
|  | Three months ended December 31, |  | Nine months ended December 31,
|  | 2023 |  | 2022 |  | 2023 |  | 2022
Net income |  | $ | 244,684 |  |  | $ | 140,153 |  |  | $ | 444,528 |  |  | $ | 323,080 |
Shares used in net income per share computation: |  |  |  |  |  |  |  |
Weighted average shares outstanding - basic |  | 155,933 |  |  | 161,244 |  |  | 157,568 |  |  | 163,042 |
Effect of potentially dilutive equivalent shares |  | 1,507 |  |  | 1,285 |  |  | 1,275 |  |  | 1,385 |
Weighted average shares outstanding - diluted |  | 157,440 |  |  | 162,529 |  |  | 158,843 |  |  | 164,427 |
Net income per share: |  |  |  |  |  |  |  |
Basic |  | $ | 1.57 |  |  | $ | 0.87 |  |  | $ | 2.82 |  |  | $ | 1.98 |
Diluted |  | $ | 1.55 |  |  | $ | 0.86 |  |  | $ | 2.80 |  |  | $ | 1.96 |
Share equivalents attributable to outstanding stock options, restricted stock units and employee share purchase plans totalin g 0.8 million and 1.6 million for the three months ended December 31, 2023 and 2022, respectively, and 1.3 million and 2.0 million for the nine months ended December 31, 2023 and 2022, respectively, were excluded from the calculation of diluted net income per share because their effect would have been anti-dilutive. A small number of performance-based restricted stock units were not included in the dilutive net income per share 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.

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