Earnings Per Share

12 Months Ended

Mar. 28, 2020

14.	Earnings Per Share

Basic net income (loss) per share (“EPS”) attributable to the Company was computed by dividing net income (loss) attributable to the Company by the average number of common shares outstanding during the period. The Company’s time-vesting and performance-vesting restricted share awards 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 fiscal years 2020, 2019, and 2018, the two-class method was more dilutive. 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 Agreement.

The following table sets forth the computation of basic and diluted earnings per common share:

	Year Ended
(Dollars and shares in thousands, except per share data)	March 28, 2020			March 30, 2019			March 31, 2018

Numerator:
Net income (loss)	$	58,160		$	(58,208	)	$	15,800
Undistributed earnings allocated to participating securities		(170	)		—			(996	)
Net income (loss) attributable to the Company's common shareholders	$	57,990		$	(58,208	)	$	14,804
Denominator:
Basic weighted average shares outstanding		56,516			53,491			44,491
Dilutive securities		246			—			—
Diluted weighted average shares outstanding		56,762			53,491			44,491
Basic net income (loss) per share:	$	1.03		$	(1.09	)	$	0.33
Diluted net income (loss) per share:	$	1.02		$	(1.09	)	$	0.33

Securities that could potentially dilute basic EPS in the future that were considered antidilutive in the periods presented are shown below:

Type of security (in thousands)	March 28, 2020		March 30, 2019
Options	$	53	$	146
Restricted Share Units		60		158
Performance Share Units		133		146
Total dilutive securities	$	246	$	450