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Earnings Per Share | 12 Months Ended
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Apr. 03, 2021
Earnings Per Share [Abstract] |
Earnings Per Share |
1 3. | 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 2021, 2020, and 2019, 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) |  | April 3, 2021 |  |  | March 28, 2020 |  |  | March 30, 2019 |
Numerator: |  |  |  |  |  |  |  |  |  |  |  |
Net income (loss) |  | $ | 84,899 |  |  | $ | 58,160 |  |  | $ | (58,208 | )
Undistributed earnings allocated to participating securities |  |  | (77 | ) |  |  | (170 | ) |  |  | — |
Net income (loss) attributable to the Company's common shareholders |  | $ | 84,822 |  |  | $ | 57,990 |  |  | $ | (58,208 | )
Denominator: |  |  |  |  |  |  |  |  |  |  |  |
Basic weighted average shares outstanding |  |  | 56,648 |  |  |  | 56,516 |  |  |  | 53,491 |
Dilutive securities |  |  | 325 |  |  |  | 246 |  |  |  | — |
Diluted weighted average shares outstanding |  |  | 56,973 |  |  |  | 56,762 |  |  |  | 53,491 |
Basic net income (loss) per share: |  | $ | 1.50 |  |  | $ | 1.03 |  |  | $ | (1.09 | )
Diluted net income (loss) per share: |  | $ | 1.49 |  |  | $ | 1.02 |  |  | $ | (1.09 | )
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) |  | April 3, 2021 |  |  | March 28, 2020 |
Options |  | $ | 62 |  |  | $ | 53 |
Restricted Share Units |  |  | 81 |  |  |  | 60 |
Performance Share Units |  |  | 182 |  |  |  | 133 |
Total dilutive securities |  | $ | 325 |  |  | $ | 246 |

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=109243012&loc=SL65017193-207537 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3630-109257 + Details
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