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Earnings Per Share | 6 Months Ended
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Sep. 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 September 30, |  | Six Months Ended September 30,
(in thousands, except per share data) |  | 2013 |  | 2012 |  | 2013 |  | 2012
Basic Earnings Per Share |  |  |  |  |  |  |  |
Numerator for basic earnings per share |  |  |  |  |  |  |  |
Net income attributable to Universal Corporation |  | $ | 25,444 |  |  | $ | 47,981 |  |  | $ | 83,753 |  |  | $ | 71,106 |
Less: Dividends on convertible perpetual preferred stock |  | (3,713 | ) |  | (3,713 | ) |  | (7,425 | ) |  | (7,425 | )
Earnings available to Universal Corporation common shareholders for calculation of basic earnings per share |  | 21,731 |  |  | 44,268 |  |  | 76,328 |  |  | 63,681 |
Denominator for basic earnings per share |  |  |  |  |  |  |  |
Weighted average shares outstanding |  | 23,207 |  |  | 23,379 |  |  | 23,262 |  |  | 23,338 |
Basic earnings per share |  | $ | 0.94 |  |  | $ | 1.89 |  |  | $ | 3.28 |  |  | $ | 2.73 |
Diluted Earnings Per Share |  |  |  |  |  |  |  |
Numerator for diluted earnings per share |  |  |  |  |  |  |  |
Earnings available to Universal Corporation common shareholders |  | $ | 21,731 |  |  | $ | 44,268 |  |  | $ | 76,328 |  |  | $ | 63,681 |
Add: Dividends on convertible perpetual preferred stock (if conversion assumed) |  | 3,713 |  |  | 3,713 |  |  | 7,425 |  |  | 7,425 |
Earnings available to Universal Corporation common shareholders for calculation of diluted earnings per share |  | 25,444 |  |  | 47,981 |  |  | 83,753 |  |  | 71,106 |
Denominator for diluted earnings per share |  |  |  |  |  |  |  |
Weighted average shares outstanding |  | 23,207 |  |  | 23,379 |  |  | 23,262 |  |  | 23,338 |
Effect of dilutive securities (if conversion or exercise assumed) |  |  |  |  |  |  |  |
Convertible perpetual preferred stock |  | 4,818 |  |  | 4,794 |  |  | 4,815 |  |  | 4,791 |
Employee share-based awards |  | 311 |  |  | 328 |  |  | 324 |  |  | 317 |
Denominator for diluted earnings per share |  | 28,336 |  |  | 28,501 |  |  | 28,401 |  |  | 28,446 |
Diluted earnings per share |  | $ | 0.90 |  |  | $ | 1.68 |  |  | $ | 2.95 |  |  | $ | 2.50 |
For the six months ended September 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:
|  | Six Months Ended September 30,
|  | 2013 |  | 2012
Potentially dilutive securities (shares in thousands) |  | 169 |  |  | 318 |
Weighted-average exercise price |  | $ | 62.66 |  |  | $ | 57.61 |

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