EARNINGS PER SHARE

12 Months Ended

Mar. 31, 2016

Basic earnings per share excludes dilution and are computed by dividing net income by the weighted-average number of ordinary shares outstanding during the applicable periods.

Diluted earnings per share reflects the potential dilution from stock options and share bonus awards. The potential dilution from stock options exercisable into ordinary share equivalents and share bonus awards was computed using the treasury stock method based on the average fair market value of the Company's ordinary shares for the period.

The following table reflects the basic weighted-average ordinary shares outstanding and diluted weighted-average ordinary share equivalents used to calculate basic and diluted income per share:



	Fiscal Year Ended March 31,
	2016		2015		2014
	(In thousands, except per share amounts)
Basic earnings per share:
Net income	$	444,081	$	600,801	$	365,594
Shares used in computation:
Weighted-average ordinary shares outstanding	557,667		579,981		610,497
Basic earnings per share	$	0.80	$	1.04	$	0.60

Diluted earnings per share:
Net income	$	444,081	$	600,801	$	365,594
Shares used in computation:
Weighted-average ordinary shares outstanding	557,667		579,981		610,497
Weighted-average ordinary share equivalents from stock options and awards (1)	7,202		11,575		12,982
Weighted-average ordinary shares and ordinary share equivalents outstanding	564,869		591,556		623,479
Diluted earnings per share	$	0.79	$	1.02	$	0.59

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(1)

Options to purchase ordinary shares of 2.0 million, 6.2 million and 17.1 million during fiscal years 2016, 2015 and 2014, respectively, and share bonus awards of less than 0.1 million during fiscal year 2015, were excluded from the computation of diluted earnings per share due to their anti-dilutive impact on the weighted average ordinary shares equivalents. There were no anti-dilutive share bonus awards in fiscal year 2016 and 2014.