10. EARNINGS (LOSS) PER SHARE ("EPS")

The following table sets forth the computation of basic and diluted earnings (loss) per share (shares in thousands):

	Three Months Ended September 30,						Six Months Ended September 30,
	2015			2014			2015			2014
Computation of Basic earnings (loss) per share:
Net income (loss)	$	54,735		$	(41,369	)	$	(12,288	)	$	(76,772	)
Less: net income allocated to participating securities		(2,320	)		—			—			—

Net income (loss) for basic earnings (loss) per share calculation	$	52,415		$	(41,369	)	$	(12,288	)	$	(76,772	)


Total weighted average shares outstanding—basic		87,560			80,355			83,280			79,862
Less: weighted average participating shares outstanding		(3,711	)		—			—			—

Weighted average common shares outstanding—basic		83,849			80,355			83,280			79,862


Basic earnings (loss) per share	$	0.63		$	(0.51	)	$	(0.15	)	$	(0.96	)


Computation of Diluted earnings (loss) per share:
Net income (loss)	$	54,735		$	(41,369	)	$	(12,288	)	$	(76,772	)
Less: net income allocated to participating securities		(1,782	)		—			—			—
Add: interest expense, net of tax, on Convertible Notes		7,994			—			—			—

Net income (loss) for diluted earnings (loss) per share calculation	$	60,947		$	(41,369	)	$	(12,288	)	$	(76,772	)


Weighted average shares outstanding—basic		83,849			80,355			83,280			79,862
Add: dilutive effect of common stock equivalents		30,166			—			—			—

Total weighted average shares outstanding—diluted		114,015			80,355			83,280			79,862
Less: weighted average participating shares outstanding		(3,711	)		—			—			—

Weighted average common shares outstanding—diluted		110,304			80,355			83,280			79,862


Diluted earnings (loss) per share	$	0.55		$	(0.51	)	$	(0.15	)	$	(0.96	)

The Company incurred a net loss for the three months ended September 30, 2014 and the six months ended September 30, 2015 and 2014; therefore, the basic and diluted weighted average shares outstanding excluded the effect of the unvested share-based awards that are considered participating securities and all common stock equivalents because their effect would be antidilutive.

Certain of our unvested restricted stock awards (including restricted stock units, time-based and market-based restricted stock awards) are considered participating securities since these securities have non-forfeitable rights to dividends or dividend equivalents during the contractual period of the award, and thus require the two-class method of computing EPS. For the three months ended September 30, 2015, the calculation of EPS for common stock shown above excludes the income attributable to the participating securities from the numerator and excludes the dilutive effect of those awards from the denominator. For the six months ended September 30, 2015, we had approximately 3,436,000 participating securities and for the three and six months ended September 30, 2014, we had approximately 6,890,000 participating securities which are excluded from the EPS calculation due to the net loss for those periods.

The Company defines common stock equivalents as non-participating restricted stock awards and common stock equivalents underlying the Convertible Notes (see Note 9) outstanding during the period. Common stock equivalents are measured using the treasury stock method, except for the Convertible Notes, which are assessed for their effect on diluted EPS using the more dilutive of the treasury stock method or the if-converted method. Under the provisions of the if-converted method, the Convertible Notes are assumed to be converted and included in the denominator of the EPS calculation and the interest expense, net of tax, recorded in connection with the Convertible Notes is added back to the numerator.

For the three months ended September 30, 2015, we issued approximately 705,000 of unvested restricted stock awards and canceled approximately 32,000 of unvested restricted stock awards and for the six months ended September 30, 2015, we issued approximately 1,673,000 of unvested restricted stock awards and canceled approximately 207,000 of unvested restricted stock awards. Beginning with the first quarter of fiscal 2016, upon the vesting of certain restricted stock awards employees have the option to have the Company withhold shares to satisfy the employee's federal and state tax withholding requirements.