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Earnings Per Share | 6 Months Ended
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Sep. 30, 2024
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 certain unvested Class A Restricted Common Stock are entitled to participate in non-forfeitable dividends or other distributions (“participating securities”). These unvested restricted shares participated in the Company's dividends declared and paid in the second quarter of fiscal 2025 and 2024. 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:
| Three Months Ended September 30, |  | Six Months Ended September 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Numerator (1): |  |  |  |  |  |  |
Earnings for basic computations | $ | 387,779 |  |  | $ | 169,277 |  |  | $ | 552,345 |  |  | $ | 329,428 |
Earnings for diluted computations | $ | 387,786 |  |  | $ | 169,280 |  |  | $ | 552,353 |  |  | $ | 329,434 |
Denominator: |  |  |  |  |  |  |
Weighted-average common stock shares outstanding, basic | 128,391,878 |  |  | 130,792,215 |  | 128,893,263 |  |  | 130,913,026
Dilutive stock options and restricted stock | 456,199 |  |  | 340,930 |  |  | 494,459 |  |  | 424,887
Weighted-average common stock shares outstanding, diluted (2) | 128,848,077 |  |  | 131,133,145 |  | 129,387,722 |  |  | 131,337,913
Earnings per common share: |  |  |  |  |  |  |
Basic | $ | 3.02 |  |  | $ | 1.29 |  |  | $ | 4.29 |  |  | $ | 2.52 |
Diluted (2) | $ | 3.01 |  |  | $ | 1.29 |  |  | $ | 4.27 |  |  | $ | 2.51 |
(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 0.8 million and 1.1 million of participating securities for the three months ended September 30, 2024 and 2023, respectively, and 0.7 million and 1.1 million shares of participating securities for the six months ended September 30, 2024 and 2023, respectively. (2) The impact of anti-dilutive options excluded from the calculation of EPS was not material during the periods presented.

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/260/tableOfContent Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-2 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-3 + Details
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