10. Net Income Per Share

The computation of net income per share is based on the number of weighted average shares outstanding during the period. The computation of diluted net income per share includes the dilutive effect of share equivalents consisting of incremental shares deemed outstanding from the assumed exercise of options, assumed vesting of restricted stock units (“RSUs”), assumed vesting of performance stock awards (“PSAs”), and assumed vesting of restricted stock awards (“RSAs”).

A reconciliation of the numerators and denominators of the basic and diluted net income per share calculations is as follows (in thousands, except per share amounts):

	Thirteen Weeks Ended
	April 1, 2018		April 2, 2017
Basic net income per share:
Net income	$	66,624	$	46,287
Weighted average shares outstanding		132,423		137,069
Basic net income per share	$	0.50	$	0.34
Diluted net income per share:
Net income	$	66,624	$	46,287
Weighted average shares outstanding - basic		132,423		137,069
Dilutive effect of equity-based awards:
Assumed exercise of options to purchase shares		807		2,962
RSUs		221		62
RSAs		160		19
PSAs		141		35
Weighted average shares and equivalent shares outstanding		133,752		140,147
Diluted net income per share	$	0.50	$	0.33

For the thirteen weeks ended April 1, 2018, the computation of diluted net income per share does not include 1.1 million options and 0.1 million PSAs as those awards would have been antidilutive or were performance awards with performance conditions not yet deemed met. For the thirteen weeks ended April 2, 2017, the computation of diluted net income per share does not include 2.6 million options and 0.1 million PSAs as those awards would have been antidilutive or were unvested performance awards.