Earnings Per Share

Basic earnings per common share (“EPS”) for the fiscal year ended March 31, 2019, is computed using the weighted average number of shares of common stock outstanding between the date of the Distribution and the end of the period. Diluted EPS reflects the incremental shares issuable upon the assumed exercise of stock options and vesting of other equity awards. EPS for the fiscal year ended March 31, 2018, the five months ended March 31, 2017 and the fiscal year ended October 31, 2016, are computed using the shares of Perspecta common stock resulting from the Distribution, as we did not operate as a stand-alone entity and therefore, no common stock, stock options or other equity awards were outstanding.

The following table reflects the calculation of basic and diluted EPS:



	Successor				Predecessor
	Fiscal Years Ended				Five Months Ended March 31, 2017		Fiscal Year Ended October 31, 2016
(in millions, except per share amounts)	March 31, 2019		March 31, 2018		Five Months Ended March 31, 2017		Fiscal Year Ended October 31, 2016
Net income	$	72	$	208	$	36	$	80

Common share information⁽¹⁾:
Weighted average common shares outstanding for basic EPS	164.56		142.43		142.43		142.43
Dilutive effect of stock options and equity awards	0.26		—		—		—
Weighted average common shares outstanding for diluted EPS	164.82		142.43		142.43		142.43

Earnings per common share:
Basic	$	0.44	$	1.46	$	0.25	$	0.56
Diluted	$	0.44	$	1.46	$	0.25	$	0.56

⁽¹⁾Earnings per common share information for the fiscal year ended March 31, 2018, the five months ended March 31, 2017, and the fiscal year ended October 31, 2016 is computed using the 142.43 million shares of Perspecta common stock resulting from the Distribution as Perspecta did not operate as a stand-alone entity during the period, and therefore, no Perspecta common stock, stock options or other equity awards were outstanding and no dividends were declared or paid by Perspecta.

Certain RSUs were excluded from the computation of diluted EPS because inclusion of these amounts would have had an anti-dilutive effect. The number of RSUs excluded were as follows:



(in millions)		March 31, 2019
RSUs		0.54