5. EARNINGS (LOSS) PER SHARE

Basic earnings (loss) per common share allocated to common shareholders is computed by dividing net earnings (loss) by the weighted-average common shares outstanding during the period. Diluted earnings (loss) per common share reflect the more dilutive earnings per common share amount calculated using the treasury stock method or the two-class method. For fiscal 2017, the treasury stock method is used to calculate diluted earnings per common share while the two-class method was used for fiscal 2016 and 2015.

Basic and diluted earnings (loss) per common share allocated to common shareholders are computed using the actual net earnings (loss) allocated to common shareholders and the actual weighted-average common shares outstanding rather than the rounded numbers presented within our consolidated statement of earnings (loss) and the accompanying notes. As a result, it may not be possible to recalculate earnings (loss) per common share allocated to common shareholders in our consolidated statement of earnings (loss) and the accompanying notes. The following table sets forth the computation of basic and diluted earnings (loss) per common share allocated to common shareholders (in thousands, except per share amounts).


	Fiscal Year

	2017		2016		2015
Numerator
Net earnings (loss)	$	96,703	$	24,956	$	(1,026,719)
Net earnings allocated to participating securities (restricted stock and deferred stock units)		—		(28)		—
Net earnings (loss) allocated to common shareholders	$	96,703	$	24,928	$	(1,026,719)
Denominator
Basic weighted-average common shares outstanding		49,094		48,607		48,288
Dilutive effect of share-based awards		374		179		—
Diluted weighted-average common shares outstanding		49,468		48,786		48,288
Net earnings (loss) per common share allocated to common shareholders:
Basic	$	1.97	$	0.51	$	(21.26)
Diluted	$	1.95	$	0.51	$	(21.26)

For fiscal 2017, 2016 and 2015, 1.8 million, 1.6 million, and 0.4 million anti‑dilutive shares of common stock were excluded from the calculation of diluted earnings (loss) per common share allocated to common shareholders, respectively.