EARNINGS PER SHARE

The Company computes basic and diluted earnings per share amounts based on net income for the periods presented. The Company uses the weighted-average number of common shares outstanding during the period to calculate basic earnings per share, or EPS. Diluted EPS adjusts the weighted average number of shares outstanding to include the dilutive effect of outstanding common stock options and other stock-based awards.

The Company currently has outstanding shares of Class A Common Stock. Unvested Class A Restricted Common Stock holders are entitled to participate in non-forfeitable dividends or other distributions. These unvested restricted shares participated in the Company's dividends declared and were paid in the first quarter of fiscal 2019 and 2018. As such, EPS is calculated using the two-class method whereby earnings are reduced by distributed earnings as well as any available undistributed earnings allocable to holders of unvested restricted shares. A reconciliation of the income used to compute basic and diluted EPS for the periods presented are as follows:



	Three Months Ended June 30,
	2018		2017
Earnings for basic computations (1)	$	103,572	$	70,093
Weighted-average common shares outstanding for basic computations	143,273,387		147,714,993
Earnings for diluted computations (1)	$	103,576	$	70,098
Dilutive stock options and restricted stock	1,420,186		2,153,280
Weighted-average common shares outstanding for diluted computations	144,693,573		149,868,273
Earnings per common share
Basic	$	0.72	$	0.47
Diluted	$	0.72	$	0.47

(1) During the three months ended June 30, 2018 and 2017, approximately 0.9 million and 1.1 million participating securities, respectively, were paid dividends totaling $0.2 million and $0.2 million, respectively. For the three months ended June 30, 2018 and 2017, there were undistributed earnings of $0.5 million and $0.3 million, respectively, allocated to the participating class of securities in both basic and diluted EPS. The allocated undistributed earnings and the dividends paid comprise the difference between net income presented on the condensed consolidated statements of operations and earnings for basic and diluted computations for the three months ended June 30, 2018 and 2017.

The EPS calculation for the three months ended June 30, 2018 and 2017 excludes 0.1 million and 0.2 million options, respectively, as their impact was anti-dilutive.