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Earnings Per Share | 3 Months Ended
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Jun. 30, 2013
Earnings Per Share [Abstract] |
Earnings Per Share | EARNINGS PER SHARE The following table sets forth the computation of basic and diluted earnings per share:
|  | Three Months Ended June 30,
(in thousands, except per share data) |  | 2013 |  | 2012
Basic Earnings Per Share |  |  |  |
Numerator for basic earnings per share |  |  |  |
Net income attributable to Universal Corporation |  | $ | 58,309 |  |  | $ | 23,125 |
Less: Dividends on convertible perpetual preferred stock |  | (3,712 | ) |  | (3,712 | )
Earnings available to Universal Corporation common shareholders for calculation of basic earnings per share |  | 54,597 |  |  | 19,413 |
Denominator for basic earnings per share |  |  |  |
Weighted average shares outstanding |  | 23,317 |  |  | 23,297 |
Basic earnings per share |  | $ | 2.34 |  |  | $ | 0.83 |
Diluted Earnings Per Share |  |  |  |
Numerator for diluted earnings per share |  |  |  |
Earnings available to Universal Corporation common shareholders |  | $ | 54,597 |  |  | $ | 19,413 |
Add: Dividends on convertible perpetual preferred stock (if conversion assumed) |  | 3,712 |  |  | 3,712 |
Earnings available to Universal Corporation common shareholders for calculation of diluted earnings per share |  | 58,309 |  |  | 23,125 |
Denominator for diluted earnings per share |  |  |  |
Weighted average shares outstanding |  | 23,317 |  |  | 23,297 |
Effect of dilutive securities (if conversion or exercise assumed) |  |  |  |
Convertible perpetual preferred stock |  | 4,812 |  |  | 4,788 |
Employee share-based awards |  | 336 |  |  | 306 |
Denominator for diluted earnings per share |  | 28,465 |  |  | 28,391 |
Diluted earnings per share |  | $ | 2.05 |  |  | $ | 0.81 |
For the three months ended June 30, 2013 and 2012, the Company had the following potentially dilutive securities (stock appreciation rights and/or stock options) outstanding that were not included in the computation of diluted earnings per share because their effect would have been antidilutive:
|  | Three Months Ended June 30,
|  | 2013 |  | 2012
Potentially dilutive securities (shares in thousands) |  | 169 |  |  | 400 |
Weighted-average exercise price |  | $ | 62.66 |  |  | $ | 55.37 |

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1278-109256 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1252-109256 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 55 -Paragraph 52 -URI http://asc.fasb.org/extlink&oid=32703322&loc=d3e4984-109258 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.21) -URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688 + Details
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