Basic and Diluted Net Income (Loss) Per Common Share

3 Months Ended

Jun. 30, 2018

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,
	2018		2017
Numerator:
Net income (loss) (1)	$	35,220	$	220,439
Denominator:
Weighted-average shares outstanding:
Basic	57,339		47,381
Assumed conversion of employee stock grants	1,699		2,631
Assumed conversion of warrants	—		7,719
Diluted	59,038		57,731
Net income (loss) per basic share (1)	$	0.61	$	4.65
Net income (loss) per diluted share	$	0.60	$	3.82

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⁽¹⁾ Quarter ended June 30, 2017 adjusted due to the adoption of ASC 606.

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,
	2018	2017
Assumed conversion of employee stock grants	—	133