EARNINGS PER SHARE ("EPS")

The following table sets forth the computation of basic and diluted earnings per share:



	Three Months Ended June 30,
	2018		2017
Computation of Basic earnings per share:
Net income	$	71,693	$	60,276
Less: net income allocated to participating securities	—		(588		)
Net income for basic earnings per share calculation	$	71,693	$	59,688

Total weighted average shares outstanding—basic	112,941		105,494
Less: weighted average participating shares outstanding	—		(1,029		)
Weighted average common shares outstanding—basic	112,941		104,465

Basic earnings per share	$	0.63	$	0.57

Computation of Diluted earnings per share:
Net income	$	71,693	$	60,276
Less: net income allocated to participating securities	—		(522		)
Add: interest expense, net of tax, on Convertible Notes	95		5,750
Net income for diluted earnings per share calculation	$	71,788	$	65,504

Weighted average common shares outstanding—basic	112,941		105,494
Add: dilutive effect of common stock equivalents	3,044		13,288
Weighted average common shares outstanding—diluted	115,985		118,782
Less: weighted average participating shares outstanding	—		(1,029		)
Weighted average common shares outstanding- diluted	115,985		117,753

Diluted earnings per share	$	0.62	$	0.56

Certain of our unvested stock-based awards (including restricted stock units and time-based and market-based restricted stock awards) are considered participating securities since these securities had non-forfeitable rights to dividends or dividend equivalents during the contractual period of the award and thus requires the two-class method of computing EPS. As of June 30, 2018, we have no material remaining participating securities.

The calculation of EPS for common stock under the two-class method shown above excludes income attributable to the participating securities from the numerator and excludes the dilutive effect of those awards from the denominator.

We define common stock equivalents as stock-based awards and common stock related to the Convertible Notes (see Note 10) outstanding during the period. Common stock equivalents are measured using the treasury stock method, except for the Convertible Notes, which were assessed for their effect on diluted EPS using the more dilutive of the treasury stock method or the if-converted method. Under the provisions of the if-converted method, the Convertible Notes are assumed to be converted and included in the denominator of the EPS calculation and the interest expense, net of tax, recorded in connection with the Convertible Notes is added back to the numerator.

During the three months ended June 30, 2018, 1,537 restricted stock awards vested, we granted 2,080 unvested restricted stock awards, and 34 unvested restricted stock awards were forfeited.