Basic and Diluted Net Income (Loss) Per Common Share

3 Months Ended

Jun. 30, 2017

Earnings Per Share [Abstract]

Basic and Diluted Net Income (Loss) Per Common Share

Basic and Diluted Net Income (Loss) Per Common Share

The following table presents basic earnings per share (“EPS”) and diluted EPS (amounts in thousands, except per share data):

	Quarters Ended June 30,
	2017		2016
Numerator:
Net income (loss)	$	220,606	$	(12,205	)
Denominator:
Weighted-average shares outstanding:
Basic	47,381		46,349
Assumed conversion of employee stock grants	2,631		—
Assumed conversion of warrants	7,719		—
Diluted	57,731		46,349
Net income (loss) per basic share	$	4.66	$	(0.26	)
Net income (loss) per diluted share	$	3.82	$	(0.26	)

Common stock equivalents that could potentially dilute net income (loss) per basic share in the future, but were not included in the computation of diluted earnings per share because the impact would have been anti-dilutive, are as follows (amounts in thousands):

	Quarters Ended June 30,
	2017	2016
Assumed conversion of employee stock grants	133	2,330
Assumed conversion of warrants	—	4,853