Earnings Per Share (Tables)

6 Months Ended

Sep. 30, 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:


	Three Months Ended September 30,				Six Months Ended September 30,
	2023		2022		2023		2022
Numerator (1):




Earnings for basic computations	$	169,277	$	169,543	$	329,428	$	306,933
Earnings for diluted computations	$	169,280	$	169,546	$	329,434	$	306,939
Denominator:
Weighted-average common stock shares outstanding, basic	130,792,215		132,266,373		130,913,026		132,317,689
Dilutive stock options and restricted stock	340,930		462,872		424,887		551,452
Weighted-average common stock shares outstanding, diluted (2)	131,133,145		132,729,245		131,337,913		132,869,141
Earnings per common share:
Basic	$	1.29	$	1.28	$	2.52	$	2.32
Diluted (2)	$	1.29	$	1.28	$	2.51	$	2.31

(1) The difference between earnings for basic and diluted computations and net income presented on the condensed consolidated statements of operations is due to undistributed earnings and dividends allocated to the participating securities. There were approximately 1.1 million of participating securities for the three months ended September 30, 2023 and 2022, respectively, and 1.1 million and 1.0 million shares of participating securities for the six months ended September 30, 2023 and 2022, respectively.

(2) The impact of anti-dilutive options excluded from the calculation of EPS was not material during the periods presented.