Earnings Per Share (Tables)

12 Months Ended

Mar. 31, 2023

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:


	Fiscal Year Ended March 31,
	2023		2022		2021
Earnings for basic computations (1)	$	269,656	$	463,626	$	605,437
Weighted-average of common stock shares outstanding for basic computations	132,161,646		134,134,034		137,722,589
Earnings for diluted computations (1)	$	269,657	$	463,635	$	605,455
Dilutive stock options and restricted stock	554,790		716,774		980,631
Weighted-average of common stock shares outstanding for diluted computations	132,716,436		134,850,808		138,703,220
Earnings per share of common stock
Basic	$	2.04	$	3.46	$	4.40
Diluted	$	2.03	$	3.44	$	4.37

(1) During fiscal 2023, 2022, and 2021 approximately 1.1 million, 0.9 million, and 0.8 million shares of participating securities were paid dividends totaling $1.8 million, $1.4 million, and $1.0 million, respectively. There were undistributed earnings of $0.3 million, $1.7 million, and $2.5 million allocated to the participating class of securities in both basic and diluted earnings per share of common stock for fiscal 2023, 2022, and 2021, respectively. The allocated undistributed earnings and the dividends paid comprise the difference between net income attributable to common stockholders presented on the consolidated statements of operations and earnings for basic and diluted computations for fiscal 2023, 2022, and 2021. Anti-dilutive options excluded in the calculation of diluted EPS was not material during the periods presented.