Net Income Per Share

3 Months Ended

Jun. 30, 2023

The following table summarizes the computations of basic and diluted net income per share for the three months ended June 30, 2023 and 2022 (in thousands, except per share amounts):


	Three months ended June 30,
		2023		2022
Net income		$	62,727	$	100,836

Shares used in net income per share computation:
Weighted average shares outstanding - basic		158,859		164,679
Effect of potentially dilutive equivalent shares		1,296		1,727
Weighted average shares outstanding - diluted		160,155		166,406

Net income per share:
Basic		$	0.39	$	0.61
Diluted		$	0.39	$	0.61

Share equivalents attributable to outstanding stock options, restricted stock units and employee share purchase plans totaling 2.0 million and 3.4 million for the three months ended June 30, 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.