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Earnings Per Share | 6 Months Ended
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Sep. 29, 2018
Earnings Per Share [Abstract] |
Earnings Per Share |
14. | Earnings Per Share
Basic net income (loss) per share (“EPS”) attributable to the Company was computed using the two-class method by dividing net income (loss) attributable to the Company, after deducting undistributed earnings allocated to participating securities, by the average number of common shares outstanding during the period. The Company’s time-vesting and performance-vesting restricted shares are considered participating securities. Diluted earnings per common share is computed based on the more dilutive of: (i) the two-class method, assuming the participating securities are not exercised or converted; or (ii) the summation of average common shares outstanding and additional common shares that would have been outstanding if the dilutive potential common shares had been issued. During the three and six months ended September 29, 2018 and September 30, 2017, diluted earnings per share was more dilutive under the two-class method. Securities that could potentially dilute basic EPS in the future that were antidilutive are described Note 13. The number of shares used to calculate earnings per share prior to the Exchange was determined based on the exchange ratio, as defined in the Exchange. The following table sets forth the computation of basic and diluted earnings per common share:
|  | Three Months Ended |  |  | Six Months Ended |
(Dollars and shares in thousands, except per share data) |  | September 29, 2018 |  |  | September 30, 2017 |  |  | September 29, 2018 |  |  | September 30, 2017 |
|  | (unaudited) |  |  | (unaudited) |
Numerator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net (loss) income: |  | $ | (77,025 | ) |  | $ | 7,408 |  |  | $ | (77,878 | ) |  | $ | 12,671 |
Less: Undistributed earnings allocated to participating securities |  |  | — |  |  |  | 464 |  |  |  | — |  |  |  | 806 |
Net (loss) income attributable to the Company's common shareholders |  | $ | (77,025 | ) |  | $ | 6,944 |  |  | $ | (77,878 | ) |  | $ | 11,865 |
Denominator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Average common shares outstanding |  |  | 54,105 |  |  |  | 44,525 |  |  |  | 50,747 |  |  |  | 44,457 |
Basic net (loss) income per share |  | $ | (1.42 | ) |  | $ | 0.16 |  |  | $ | (1.53 | ) |  | $ | 0.27 |
Diluted net (loss) income per share |  | $ | (1.42 | ) |  | $ | 0.16 |  |  | $ | (1.53 | ) |  | $ | 0.27 |

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 + Details
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