NET INCOME PER SHARE

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 2017, 2016 and 2015 are as follows:



	2017		2016		2015
	(In thousands, except per share amounts)
Net income	$	204,101	$	203,086	$	252,417
Weighted-average common shares used to calculate basic net income per share	272,097		284,502		288,018
2015 Warrants	—		—		16,434
Stock-based awards	8,124		6,754		7,850
Weighted-average common shares used to calculate diluted net income per share	280,221		291,256		312,302
Net income per share - basic	$	0.75	$	0.71	$	0.88
Net income per share - diluted	$	0.73	$	0.70	$	0.81

The following table presents shares of Cadence’s common stock outstanding for fiscal 2017, 2016 and 2015 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:



	2017	2016	2015
	(In thousands)
Long-term performance-based awards	152	1,069	—
Options to purchase shares of common stock	303	581	1,029
Non-vested shares of restricted stock	77	27	60
Total potential common shares excluded	532	1,677	1,089