Net Income per Share

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,
	2017	2016	2017	2016
Weighted-average shares used in basic computation	31,863,000	31,973,000	31,956,000	32,018,000
Dilutive effect of stock-based awards and options	178,000	336,000	230,000	359,000
Weighted-average shares used for diluted computation	32,041,000	32,309,000	32,186,000	32,377,000

Excluded*:
Annual RSUs and Annual PSUs	53,000	95,000	54,000	97,000
LTIP PSUs	269,000	384,000	269,000	384,000
LTIP NQSOs	397,000	208,000	397,000	208,000
Deferred non-employee director restricted stock awards	3,000	—	3,000	—

*The stock-based awards and options excluded from the dilutive effect were excluded either because the shares were anti-dilutive or because the 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, 2017 and 2016. The number of shares reflected for each of these excluded awards is the maximum number of shares issuable pursuant to these awards. Refer to Note 8, "Stockholders' Equity," for further information on the Company's stock-based awards and options.