EARNINGS PER SHARE (Tables)

12 Months Ended

Mar. 31, 2016

Components of Basic and Diluted Earnings Per Share

The components of basic and diluted earnings per share for the years ended March 31, are as follows:

(In thousands, except share and per share data)	2016			2015			2014
Net earnings (loss) available to common shareholders	$	(160,183	)		(65,190	)		140,255
Weighted average outstanding shares of common stock, basic		46,981,102			48,658,840			49,392,749
Dilutive effect of options and restricted stock awards		—			—			287,365
Weighted average common stock and equivalents		46,981,102			48,658,840			49,680,114

Earnings (loss) per share, basic (A)	$	(3.41	)		(1.34	)		2.84
Earnings (loss) per share, diluted (B)	$	(3.41	)		(1.34	)		2.82
Additional information:
Antidilutive options and restricted stock shares		489,325			284,635			34,486

(A)

The company calculates “Loss per share, basic” by dividing “Net loss available to common shareholders” by “Weighted average outstanding share of common stock, basic”.

(B)

The company calculates “Loss per share, diluted” by dividing “Net loss available to common shareholders” by “Weighted average common stock and equivalents”.