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EARNINGS PER SHARE (Tables)

6 Months Ended

Sep. 30, 2022

Schedule of Reconciliation of the Income Used to Compute Basic and Diluted EPS

A reconciliation of the income used to compute basic and diluted EPS for the periods presented are as follows:


	Three Months Ended September 30,				Six Months Ended September 30,
	2022		2021		2022		2021
Earnings for basic computations (1)	$	169,543	$	153,742	$	306,933	$	245,418
Weighted-average common shares outstanding for basic computations	132,266,373		134,759,240		132,317,689		135,158,270
Earnings for diluted computations (1)	$	169,546	$	153,745	$	306,939	$	245,422
Dilutive stock options and restricted stock	462,872		557,189		551,452		689,278
Weighted-average common shares outstanding for diluted computations	132,729,245		135,316,429		132,869,141		135,847,548
Earnings per common share
Basic	$	1.28	$	1.14	$	2.32	$	1.82
Diluted	$	1.28	$	1.14	$	2.31	$	1.81

(1) During the three months ended September 30, 2022 and 2021, approximately 1.1 million and 1.0 million participating securities were paid dividends totaling $0.5 million and $0.4 million, respectively. During the six months ended September 30, 2022 and 2021, approximately 1.0 million and 0.8 million participating securities were paid dividends totaling $0.8 million and $0.6 million, respectively. There were undistributed earnings of $0.9 million and $0.7 million for the three months ended September 30, 2022 and 2021, respectively, allocated to the participating class of securities in both basic and diluted EPS. There were undistributed earnings of $1.4 million and $0.9 million for the six months ended September 30, 2022 and 2021, respectively, allocated to the participating class of securities in both basic and diluted EPS. The allocated undistributed earnings and the dividends paid comprise the difference between net income presented on the condensed consolidated statements of operations and earnings for basic and diluted computations for the three and six months ended September 30, 2022 and 2021. The impact of any anti-dilutive options excluded from the calculation of EPS was not material.