EARNINGS (LOSS) PER SHARE ("EPS")

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



	Three Months Ended September 30,					Six Months Ended September 30,
	2018		2017			2018		2017
Computation of Basic earnings (loss) per share:
Net income (loss)	$	25,367	$	(2,736	)	$	97,060	$	57,540
Less: net income allocated to participating securities	—		—			—		(487		)
Net income (loss) for basic earnings per share calculation	$	25,367	$	(2,736	)	$	97,060	$	57,053

Total weighted average shares outstanding—basic	113,735		109,430			113,339		107,232
Less: weighted average participating shares outstanding	—		—			—		(908		)
Weighted average common shares outstanding—basic	113,735		109,430			113,339		106,324

Basic earnings (loss) per share	$	0.22	$	(0.03	)	$	0.86	$	0.54

Computation of Diluted earnings (loss) per share:
Net income (loss)	$	25,367	$	(2,736	)	$	97,060	$	57,540
Less: net income allocated to participating securities	—		—			—		(478		)
Net income (loss) for diluted earnings per share calculation	$	25,367	$	(2,736	)	$	97,060	$	57,062

Weighted average common shares outstanding—basic	113,735		109,430			113,339		106,324
Add: dilutive effect of common stock equivalents	2,360		—			2,462		3,032
Weighted average common shares outstanding—diluted	116,095		109,430			115,801		109,356
Less: weighted average participating shares outstanding	—		—			—		(908		)
Weighted average common shares outstanding- diluted	116,095		109,430			115,801		$	108,448

Diluted earnings (loss) per share	$	0.22	$	(0.03	)	$	0.84	$	0.53

Certain of our unvested stock-based awards (including restricted stock units and restricted stock awards) are considered participating securities since these securities have 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 September 30, 2018, we have no material 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 incurred a net loss for the three months ended September 30, 2017; therefore, the basic and diluted weighted average shares for that period exclude the effect of the unvested share-based awards that are considered participating securities and all common stock equivalents because their effect would be antidilutive. For the three months ended September 30, 2017 we had 2,145 of unvested share-based awards that were excluded from the EPS calculation due to the net loss for the period.

We define common stock equivalents as stock-based awards and common stock related to the 1.00% 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 1.00% 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 six months ended September 30, 2018, 1,628 restricted stock awards vested, we granted 1,047 unvested restricted stock awards, and 46 unvested restricted stock awards were forfeited.