9. EARNINGS PER SHARE (“EPS”)

Basic (loss) earnings per common share were computed using the weighted average number of shares of common stock outstanding during the period, considering the effect of participating securities. Unvested stock‑based compensation awards that contain non‑forfeitable rights to dividends or dividend equivalents are considered participating securities and are included in the computation of earnings per share pursuant to the two‑class method. The Company’s unvested restricted stock awards contain non‑forfeitable dividend rights and participate equally with common stock with respect to dividends issued or declared. The Company’s unexercised stock options, unexercised SSARs and unvested performance stock do not contain rights to dividends. Under the two‑class method, the (loss) earnings used to determine basic (loss) earnings per common share are reduced by an amount allocated to participating securities. Use of the two‑class method has an immaterial impact on the calculation of basic and diluted (loss) earnings per common share.

The following table summarizes the effects of dilutive securities on diluted EPS for the period:


	Fiscal Year Ended June 30,
	2018		2017		2016
	(in thousands, except per share data)
Net (loss) income available to Royal Gold common stockholders	$	(113,134)	$	101,530	$	(77,149)
Weighted-average shares for basic EPS		65,291,855		65,152,782		65,074,455
Effect of other dilutive securities		—		125,171		—
Weighted-average shares for diluted EPS		65,291,855		65,277,953		65,074,455
Basic (loss) earnings per share	$	(1.73)	$	1.55	$	(1.18)
Diluted (loss) earnings per share	$	(1.73)	$	1.55	$	(1.18)

The calculation of weighted average shares includes all of our outstanding common stock. The Company intends to settle the principal amount of the 2019 Notes in cash primarily from our available revolving credit facility. As a result, there will be no impact to diluted earnings per share unless the share price of the Company’s common stock exceeds the adjusted conversion price of $102.91 as of June 30, 2018.