Earnings Per Share (Tables)

9 Months Ended

Dec. 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:


	Three Months Ended December 31,				Nine Months Ended December 31,
	2023		2022		2023		2022
Numerator (1):




Earnings for basic computations	$	144,431	$	30,526	$	473,856	$	337,607
Earnings for diluted computations	$	144,433	$	30,526	$	473,864	$	337,612
Denominator:
Weighted-average common stock shares outstanding, basic	130,121,092		132,224,802		130,647,687		132,286,243
Dilutive stock options and restricted stock	367,958		535,075		411,067		545,326
Weighted-average common stock shares outstanding, diluted (2)	130,489,050		132,759,877		131,058,754		132,831,569
Earnings per common share:
Basic	$	1.11	$	0.23	$	3.63	$	2.55
Diluted (2)	$	1.11	$	0.23	$	3.62	$	2.54

(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 both the three months ended December 31, 2023 and 2022, and 1.1 million and 1.0 million shares of participating securities for the nine months ended December 31, 2023 and 2022, respectively.

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