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EARNINGS PER SHARE ("EPS") | 3 Months Ended
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Jun. 30, 2018
Earnings Per Share [Abstract] |
EARNINGS PER SHARE (EPS) | EARNINGS PER SHARE (“EPS”) The following table provides a reconciliation of the numerators and denominators of the basic and diluted earnings per share computations.
| Three Months Ended
(In thousands, except per share amounts) | June 30, 2018 |  | July 1, 2017
Basic EPS |  |  |
Net (loss) income | $ | (2,819 | ) |  | $ | 20,137 |
Weighted average shares | 52,119 |  |  | 52,443 |
Basic (loss) income per share | $ | (0.05 | ) |  | $ | 0.38 |
Diluted EPS |  |  |
Net (loss) income | $ | (2,819 | ) |  | $ | 20,137 |
Basic weighted average shares | 52,119 |  |  | 52,443 |
Net effect of common stock equivalents | — |  |  | 368 |
Diluted weighted average shares | 52,119 |  |  | 52,811 |
Diluted (loss) income per share | $ | (0.05 | ) |  | $ | 0.38 |
Basic earnings per share is calculated using our weighted-average outstanding common stock. Diluted earnings per share is calculated using our weighted-average outstanding common stock including the dilutive effect of stock awards as determined under the treasury stock method. For the three months ended June 30, 2018, we recognized a net loss; therefore we excluded the impact of outstanding stock awards from the diluted loss per share calculation as their inclusion would have an anti-dilutive effect. For the three months ended July 1, 2017, weighted average shares outstanding, assuming dilution, excludes the impact of 0.7 million anti-dilutive shares. Share Repurchase Plan On February 6, 2018, we announced that our Board of Directors authorized the repurchase of up to $260 million of our outstanding common stock from time to time, based on market conditions, through March 30, 2019. In May 2018, we completed a $100.0 million repurchase of our common stock pursuant to an accelerated share repurchase agreement ("ASR") entered into with Citibank N.A (“Citibank”) in February 2018. The total number of shares repurchased under the ASR was approximately 1.4 million at an average price per share upon final settlement of $72.51. In June 2018, we entered into a new ASR with Citibank to repurchase approximately $80.0 million of the Company’s common stock. Pursuant to the terms of the ASR, in June 2018, we paid Citibank $80.0 million in cash and received an initial delivery of approximately 0.7 million shares of our common stock based on a closing market price of the Company's common stock on the New York Stock Exchange on June 5, 2018 of $95.42. This initial delivery of shares represented approximately 80% of the notional amount of the ASR. On August 1, 2018, the ASR was completed and an additional 0.2 million shares were delivered upon settlement. The total number of shares repurchased under the ASR was approximately 0.9 million at an average price per share upon final settlement of $93.83. As of August 7, 2018, the total remaining authorization for repurchases of the Company’s common stock under our share repurchase program was $80 million.

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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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