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EARNINGS (LOSS) PER SHARE ("EPS")
 12 Months Ended
Mar. 31, 2017
Earnings Per Share [Abstract]  
EARNINGS (LOSS) PER SHARE (EPS)
EARNINGS (LOSS) PER SHARE ("EPS")
The following table sets forth the computation of basic and diluted EPS (shares in thousands):
 
 
Fiscal Year Ended March 31,
 
 
2017
 
2016
 
2015
Computation of Basic earnings (loss) per share:
 
 

 
 

 
 

Net income (loss)
 
$
67,303

 
$
(8,302
)
 
$
(279,470
)
Less: net income allocated to participating securities
 
(1,275
)
 
—

 
—

Net income (loss) for basic earnings (loss) per share calculation
 
$
66,028

 
$
(8,302
)
 
$
(279,470
)
Total weighted average shares outstanding—basic
 
91,921

 
83,417

 
80,367

Less: weighted average participating shares outstanding
 
(1,741
)
 
—

 
—

Weighted average common shares outstanding—basic
 
90,180

 
83,417

 
80,367

Basic earnings (loss) per share
 
$
0.73

 
$
(0.10
)
 
$
(3.48
)
Computation of Diluted earnings (loss) per share:
 
 

 
 

 
 

Net income (loss)
 
$
67,303

 
$
(8,302
)
 
$
(279,470
)
Less: net income allocated to participating securities
 
(1,246
)
 
—

 
—

Net income (loss) for diluted earnings (loss) per share calculation          
 
$
66,057

 
$
(8,302
)
 
$
(279,470
)
Weighted average common shares outstanding—basic
 
91,921

 
83,417

 
80,367

Add: dilutive effect of common stock equivalents
 
2,152

 
—

 
—

Weighted average common shares outstanding—diluted
 
94,073

 
83,417

 
80,367

Less: weighted average participating shares outstanding
 
(1,741
)
 
—

 
—

Weighted average common shares outstanding- diluted
 
92,332

 
83,417

 
80,367

Diluted earnings (loss) per share
 
$
0.72

 
$
(0.10
)
 
$
(3.48
)

The calculation of EPS for common stock under the two-class method shown above for the fiscal year ended March 31, 2017 excludes income attributable to the participating securities from the numerator and excludes the dilutive effect of those awards from the denominator.
We incurred a net loss for the fiscal years ended March 31, 2016 and 2015; therefore, the basic and diluted weighted average shares outstanding exclude the effect of unvested share-based awards that are considered participating securities and all common stock equivalents because their effect would be antidilutive. For the fiscal years ended March 31, 2016 and 2015 we had 6,405,000, and 6,061,000, respectively, of unvested share-based awards which are excluded due to the net loss for the periods.