Net (loss) income per common share (Notes)

6 Months Ended

Sep. 30, 2012

Earnings Per Share [Abstract]

Net income per common share

Net (Loss) Income Per Common Share

The following table sets forth the computation of basic and diluted net (loss) income per common share (in thousands, except per share amounts):

	Three Months Ended					Six Months Ended
	September 30,					September 30,
	2012			2011		2012		2011
Net (loss) income	$	(21,184	)	$	79,287	$	57,526	$	178,580
Weighted average common shares outstanding	194,060			190,809		193,756		190,461
Dilutive effect of stock options and RSUs	—			4,107		3,701		4,332
Dilutive effect of convertible debt	—			5,283		7,170		7,590
Weighted average common and potential common shares outstanding	194,060			200,199		204,627		202,383
Basic net (loss) income per common share	$	(0.11	)	$	0.42	$	0.30	$	0.94
Diluted net (loss) income per common share	$	(0.11	)	$	0.40	$	0.28	$	0.88

Diluted net income per common share for the six-month period ended September 30, 2012 includes 7,169,730 shares issuable upon the exchange of debentures (see Note 14).  Diluted net income per common share for the three and six-month periods ended September 30, 2011 includes 5,282,795 and 7,589,675 shares, respectively, issuable upon the exchange of debentures.  The debentures have no impact on diluted net (loss) income per common share unless the average price of the Company's common stock exceeds the conversion price because the principal amount of the debentures will be settled in cash upon conversion.  Prior to conversion, the Company will include, in the diluted net (loss) income per common share calculation, the effect of the additional shares that may be issued when the Company's common stock price exceeds the conversion price using the treasury stock method.  The weighted average conversion price per share used in calculating the dilutive effect of the convertible debt for the three and six-month periods ended September 30, 2012 was $27.51 and $27.65, respectively.

Weighted average common shares exclude the effect of option shares which are not dilutive.  For the three-month period ended September 30, 2012, the number of option shares that were antidilutive was 3,367,634. For the six-month period ended September 30, 2012, the number of option shares that were antidilutive was 110,021. For the three and six months ended September 30, 2011, the number of option shares that were antidilutive was 119,838 and 53,374, respectively.