Basic earnings per share (“EPS”) is computed by dividing net income by the weighted average number of common shares outstanding for the period. Diluted EPS is computed by dividing net income by the weighted average shares outstanding for the period and includes the dilutive impact of potential new shares issuable upon vesting and exercise of stock options, vesting of restricted stock units, and assumed conversion of the 2025 Notes. Potential shares of common stock are excluded from the computation of diluted EPS if their effect is anti-dilutive.

Diluted EPS related to the 2025 Notes is calculated using the if-converted method; the number of dilutive shares is based on the initial conversion rate associated with the 2025 Notes. A reconciliation of the numerators and denominators of the basic and diluted EPS calculations is as follows:


In thousands, except EPS	Fiscal Year 2023		Fiscal Year 2022		Fiscal Year 2021
Net income (loss)	$	(65,901)	$	42,122	$	128,244
After-tax interest expense for 2025 Notes	—		—		9,483
Numerator for diluted EPS	$	(65,901)	$	42,122	$	137,727
Weighted average shares outstanding for basic EPS	78,313		79,831		81,820
Effect of dilutive securities:
Stock options	—		190		919
Restricted Stock	—		277		483
2025 Notes	—		—		12,912
Weighted average shares outstanding for diluted EPS	78,313		80,298		96,134
Basic EPS	$	(0.84)	$	0.53	$	1.57
Diluted EPS	$	(0.84)	$	0.52	$	1.43
Anti-dilutive securities excluded from diluted weighted average common shares	12,796		13,282		94