The following table summarizes the computations of basic and diluted net income per share for the three months ended June 30, 2026 and 2025 (in thousands, except per share amounts):


	Three Months Ended June 30,
	2026		2025
Net income	$	235,697	$	146,015

Shares used in net income per share computation:
Weighted average shares outstanding - basic	143,495		147,864
Effect of potentially dilutive equivalent shares	1,543		1,189
Weighted average shares outstanding - diluted	145,038		149,053

Net income per share:
Basic	$	1.64	$	0.99
Diluted	$	1.63	$	0.98

Share equivalents attributable to outstanding stock options, restricted stock units and employee share purchase plans totaling 0.8 million and 1.6 million for the three months ended June 30, 2026 and 2025, respectively, were excluded from the calculation of diluted net income per share because their effect would have been antidilutive. A small number of performance-based restricted stock units were not included in the diluted net income per share calculation because all necessary conditions had not been satisfied by the end of the respective period, and those shares were not issuable if the end of the reporting period were the end of the performance contingency period.