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Earnings Per Share | 12 Months Ended
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Mar. 31, 2025
Earnings Per Share [Abstract] |
Earnings Per Share | Earnings Per Share The Company computes basic and diluted earnings per share amounts based on net income attributable to common stockholders 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 (“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 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 each quarter of fiscal 2025, 2024, and 2023. 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:
| Fiscal Year Ended March 31,
| 2025 |  | 2024 |  | 2023
Numerator: (1) |  |  |  |  |
Earnings for basic computations | $ | 930 |  |  | $ | 601 |  |  | $ | 270 |
Earnings for diluted computations | $ | 930 |  |  | $ | 601 |  |  | $ | 270 |
Denominator: |  |  |  |  |
Weighted-average common stock shares outstanding, basic | 127,763,166 |  | 130,366,501 |  | 132,161,646
Dilutive stock options and restricted stock | 527,251 |  |  | 449,402 |  | 554,790
Weighted-average common stock shares outstanding, diluted (2) | 128,290,417 |  |  | 130,815,903 |  | 132,716,436
Earnings per share of common share: |  |  |  |  |
Basic | $ | 7.28 |  |  | $ | 4.61 |  |  | $ | 2.04 |
Diluted (2) | $ | 7.25 |  |  | $ | 4.59 |  |  | $ | 2.03 |
(1) The difference between earnings for basic and diluted computations and net income presented on the consolidated statements of operations is due to undistributed earnings and dividends allocated to the participating securities. During fiscal 2025, 2024, and 2023, respectively, approximately 0.7 million, 1.1 million, and 1.1 million shares of participating securities were paid dividends totaling $1 million, $2 million, and $2 million, respectively. There were undistributed earnings of $4 million, $3 million, and less than a million allocated to the participating class of securities in both basic and diluted earnings per share of common stock for fiscal 2025, 2024, and 2023, respectively. (2) The impact of anti-dilutive options excluded from the calculation of diluted EPS was not material during the periods presented.

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