Net Income per Share

9 Months Ended

Dec. 31, 2016

Basic net income per share represents net income divided by the weighted-average number of common shares outstanding for the period. Diluted net income per share represents net income divided by the weighted-average number of common shares outstanding, including the dilutive impact of potential issuances of common stock. The reconciliation of basic to diluted weighted-average common shares outstanding is as follows:



	Three Months Ended December 31,		Nine Months Ended December 31,
	2016	2015	2016	2015
Weighted-average shares used in basic computation	31,973,000	32,341,000	32,018,000	32,655,000
Dilutive effect of stock-based awards	336,000	502,000	359,000	502,000
Weighted-average shares used in diluted computation	32,309,000	32,843,000	32,377,000	33,157,000

Excluded Annual RSUs (1)	95,000	175,000	97,000	175,000
Excluded long-term incentive plan RSUs (1)	384,000	521,000	384,000	521,000
Excluded NQSOs (1)	208,000	—	208,000	—
Excluded SARs (1)	—	90,000	—	90,000

(1)

The stock-based awards excluded from the dilutive effect were excluded either because shares were anti-dilutive or because necessary conditions had not been satisfied for the shares to be issuable based on the Company’s performance for the three and nine months ended December 31, 2016 and 2015. The number of shares reflected for each of these excluded awards is the maximum number of shares issuable pursuant to these awards.