Net Income per Share

12 Months Ended

Dec. 31, 2016

Basic net income per share is computed by dividing net income during the period by the weighted-average number of shares of common stock outstanding during that period, less unvested restricted stock awards. Diluted net income per share is impacted by equity instruments considered to be potential common shares, if dilutive, computed using the treasury stock method of accounting.

The calculations for basic and diluted net income per share for fiscal 2016, 2015 and 2014 are as follows:



	2016		2015		2014
	(In thousands, except per share amounts)
Net income	$	203,086	$	252,417	$	158,898
Weighted-average common shares used to calculate basic net income per share	284,502		288,018		283,349
2015 Warrants	—		16,434		15,930
Stock-based awards	6,754		7,850		7,496
Weighted-average common shares used to calculate diluted net income per share	291,256		312,302		306,775
Net income per share - basic	$	0.71	$	0.88	$	0.56
Net income per share - diluted	$	0.70	$	0.81	$	0.52

The following table presents shares of Cadence’s common stock outstanding for fiscal 2016, 2015 and 2014 that were excluded from the computation of diluted net income per share because the effect of including these shares in the computation of diluted net income per share would have been anti-dilutive:



	2016	2015	2014
	(In thousands)
Long-term performance-based awards	1,069	—	—
Options to purchase shares of common stock	581	1,029	2,773
Non-vested shares of restricted stock	27	60	18
Total potential common shares excluded	1,677	1,089	2,791