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Net (Loss) Income Per Common Share From Continuing Operations (Notes)
 9 Months Ended
Dec. 31, 2017
Earnings Per Share [Abstract]  
Net (Loss) Income Per Common Share From Continuing Operations
Net (Loss) Income Per Common Share From Continuing Operations
 
The following table sets forth the computation of basic and diluted net (loss) income per common share from continuing operations (in thousands, except per share amounts):
 
Three Months Ended
 
Nine Months Ended
 
December 31,
 
December 31,
 
2017
 
2016
 
2017
 
2016
Net (loss) income from continuing operations
$
(251,086
)
 
$
107,335

 
$
108,657

 
$
33,684

Weighted average common shares outstanding
234,106

 
216,210

 
232,278

 
215,360

Dilutive effect of stock options and RSUs
—

 
4,330

 
4,460

 
4,317

Dilutive effect of 2007 Junior debt
—

 
14,884

 
1,735

 
13,674

Dilutive effect of 2015 Senior debt
—

 
—

 
9,551

 
—

Dilutive effect of 2017 Senior debt
—

 
—

 
—

 
—

Dilutive effect of 2017 Junior debt
—

 
—

 
—

 
—

Weighted average common and potential common shares outstanding
234,106

 
235,424

 
248,024

 
233,351

Basic net (loss) income per common share from continuing operations
$
(1.07
)
 
$
0.50

 
$
0.47

 
$
0.16

Diluted net (loss) income per common share from continuing operations
$
(1.07
)
 
$
0.46

 
$
0.44

 
$
0.14



The Company computed basic net (loss) income per common share from continuing operations using net (loss) income from continuing operations and the weighted average number of common shares outstanding during the period. The Company computed diluted net (loss) income per common share from continuing operations using net (loss) income from continuing operations and the weighted average number of common shares outstanding plus potentially dilutive common shares outstanding during the period.

Potentially dilutive common shares from employee equity incentive plans are determined by applying the treasury stock method to the assumed exercise of outstanding stock options and the assumed vesting of outstanding RSUs. Weighted average common shares exclude the effect of option shares which are not dilutive.  For the three months ended December 31, 2017, the calculation of diluted net loss per common share excluded 4,400,046 common shares from employee equity incentive plans as the related impact would have been anti-dilutive as the Company generated a net loss. There were no anti-dilutive option shares for the nine months ended December 31, 2017, and the three and nine months ended December 31, 2016.

For the three months ended December 31, 2017, the calculation of diluted net loss per common share excluded 398,430 shares and 11,920,246 shares issuable upon the exchange of the Company's 2007 Junior Debt, and the Company's 2015 Senior Debt, respectively, as the related impact would have been anti-dilutive as the Company generated a net loss. Diluted net income per common share from continuing operations for the nine months ended December 31, 2017, includes 1,734,984 shares and 9,551,342 shares issuable upon the exchange of the Company's 2007 Junior Debt, and the Company's 2015 Senior Debt, respectively. The Company's 2007 Junior Debt was fully settled as of December 31, 2017. Diluted net income per common share from continuing operations for the three and nine months ended December 31, 2016 included 14,883,643 shares and 13,673,578 shares issuable upon the exchange of the Company's 2007 Junior Debt, respectively (see Note 13 for details on the convertible debt).  The convertible debt has no impact on diluted net 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 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 following is the weighted average conversion price per share used in calculating the dilutive effect (See Note 13 for details on the convertible debt):

 
Three Months Ended
 
Nine Months Ended
 
December 31,
 
December 31,
 
2017
 
2016
 
2017
 
2016
2007 Junior Debt
$
23.49

 
$
23.93

 
$
23.59

 
$
24.08

2015 Senior Debt
$
63.80

 
$
65.00

 
$
64.07

 
$
65.40

2017 Senior Debt
$
99.50

 
$
—

 
$
99.92

 
$
—

2017 Junior Debt
$
97.75

 
$
—

 
$
98.16

 
$
—