(LOSS) EARNINGS PER SHARE ("EPS")

9 Months Ended

Dec. 31, 2022

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


	Three Months Ended December 31,				Nine Months Ended December 31,
	2022		2021		2022		2021
Computation of Basic (loss) earnings per share:
Net (loss) income	$	(153.4)	$	144.6	$	(514.4)	$	307.1
Weighted average shares outstanding—basic	168.0		115.3		157.2		115.6
Basic (loss) earnings per share	$	(0.91)	$	1.25	$	(3.27)	$	2.66

Computation of Diluted (loss) earnings per share:
Net (loss) income	$	(153.4)	$	144.6	$	(514.4)	$	307.1



Weighted average shares outstanding—basic	168.0		115.3		157.2		115.6
Add: dilutive effect of common stock equivalents	—		1.4		—		1.2
Weighted average common shares outstanding—diluted	168.0		116.7		157.2		116.8

Diluted (loss) earnings per share	$	(0.91)	$	1.24	$	(3.27)	$	2.63

We incurred a net loss for the three and nine months ended December 31, 2022; therefore, the diluted weighted average shares outstanding exclude the effect of unvested common stock equivalents because their effect would be antidilutive. For the three months ended December 31, 2022, we had 1.0 potentially dilutive shares from share-based awards and 0.2 of shares from Convertible Notes that are excluded due to the net loss for the period. For the nine months ended December 31, 2022, we had 1.5 potentially dilutive shares from share-based awards and 0.7 of shares from Convertible Notes that are excluded due to the net loss for the period.

During the nine months ended December 31, 2022, 2.2 restricted stock awards vested, we granted 3.2 unvested restricted stock awards, and 1.3 unvested restricted stock awards were forfeited. The forfeiture of awards resulted in the reversal of expense of $48.7 and amounts capitalized as software development costs of $9.2.