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EARNINGS PER SHARE | 12 Months Ended
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Mar. 31, 2022
Earnings Per Share [Abstract] |
EARNINGS PER SHARE | EARNINGS PER SHARE The Company computes basic and diluted earnings per share amounts based on net income for the periods presented. The Company uses the weighted average number of shares of common stock outstanding during the period to calculate basic earnings per share, or EPS. Diluted EPS adjusts the weighted average number of shares outstanding to include the dilutive effect of outstanding common stock options and other stock-based awards. The Company currently has outstanding shares of Class A Common Stock. Holders of unvested Class A Restricted Common Stock are entitled to participate in non-forfeitable dividends or other distributions. These unvested restricted shares participated in the Company's dividends declared and paid in each quarter of fiscal 2022, 2021, and 2020. As such, EPS is calculated using the two-class method whereby earnings are reduced by distributed earnings as well as any available undistributed earnings allocable to holders of these unvested restricted shares. A reconciliation of the income used to compute basic and diluted EPS for the periods presented are as follows:
| Fiscal Year Ended March 31,
| 2022 |  | 2021 |  | 2020
Earnings for basic computations (1) | $ | 463,626 |  |  | $ | 605,437 |  |  | $ | 481,085 |
Weighted-average of common stock shares outstanding for basic computations | 134,134,034 |  | 137,722,589 |  | 140,059,494
Earnings for diluted computations (1) | $ | 463,635 |  |  | $ | 605,455 |  |  | $ | 481,092 |
Dilutive stock options and restricted stock | 716,774 |  |  | 980,631 |  | 1,178,641
Weighted-average of common stock shares outstanding for diluted computations | 134,850,808 |  |  | 138,703,220 |  | 141,238,135
Earnings per share of common stock |  |  |  |  |
Basic | $ | 3.46 |  |  | $ | 4.40 |  |  | $ | 3.43 |
Diluted | $ | 3.44 |  |  | $ | 4.37 |  |  | $ | 3.41 |
(1) During fiscal 2022, 2021, and 2020 approximately 0.9 million, 0.8 million, and 0.4 million shares of participating securities were paid dividends totaling $1.4 million, $1.0 million, and $0.7 million, respectively. There were undistributed earnings of $1.7 million, $2.5 million, and $0.9 million allocated to the participating class of securities in both basic and diluted earnings per share of common stock for fiscal 2022, 2021, and 2020, respectively. The allocated undistributed earnings and the dividends paid comprise the difference between net income presented on the consolidated statements of operations and earnings for basic and diluted computations for fiscal 2022, 2021, and 2020. The impact of any anti-dilutive options included in the calculation of EPS was not material.

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