Net Income Per Common Share (Tables)

9 Months Ended

Dec. 31, 2023

Schedule of Computation of Basic and Diluted Earnings Per Share

The following table sets forth the computation of basic and diluted net income per common share (in millions, except per share amounts):


	Three Months Ended December 31,	Nine Months Ended December 31,
		2023		2022		2023		2022
Net income		$	419.2	$	580.3	$	1,752.2	$	1,633.7
Basic weighted average common shares outstanding		540.8		549.2		543.0		551.5
Dilutive effect of stock options and RSUs		4.9		4.8		5.0		5.1

Dilutive effect of 2015 Senior Convertible Debt		0.2		0.4		0.2		0.7
Dilutive effect of 2017 Senior Convertible Debt		0.6		0.9		0.8		1.0

Dilutive effect of 2017 Junior Convertible Debt		—		0.1		—		0.1
Diluted weighted average common shares outstanding		546.5		555.4		549.0		558.4
Basic net income per common share		$	0.78	$	1.06	$	3.23	$	2.96
Diluted net income per common share		$	0.77	$	1.04	$	3.19	$	2.93

Schedule of Convertible Debt

The following is the weighted average conversion price per share used in calculating the dilutive effect (see Note 6 for details on the Convertible Debt):


	Three Months Ended December 31,	Nine Months Ended December 31,
		2023		2022		2023		2022

2015 Senior Convertible Debt		$	28.95	$	29.52	$	29.10	$	29.65
2017 Senior Convertible Debt		$	45.14	$	46.03	$	45.38	$	46.23
2020 Senior Convertible Debt		$	91.78	$	92.74	$	92.05	$	92.91
2017 Junior Convertible Debt(1)		$	—	$	45.22	$	44.81	$	45.42

(1) The weighted average conversion price per share for the 2017 Junior Convertible Debt was prior to the settlement of the outstanding principal amount in May 2023.