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Earnings Per Share
 12 Months Ended
Mar. 31, 2014
Earnings Per Share [Abstract]  
Earnings Per Share
EARNINGS PER SHARE
The following table sets forth the computation of basic and diluted earnings per share:
 
Fiscal Year Ended March 31,
 
2014
 
2013
 
2012
Basic Earnings Per Share
 
 
 
 
 
Numerator for basic earnings per share
 
 
 
 
 
Net income attributable to Universal Corporation
$
149,009

 
$
132,750

 
$
92,057

Less: Dividends on convertible perpetual preferred stock
(14,850
)
 
(14,850
)
 
(14,850
)
Earnings available to Universal Corporation common shareholders for
calculation of basic earnings per share
134,159

 
117,900

 
77,207

 
 
 
 
 
 
 Denominator for basic earnings per share
 
 
 
 
 
Weighted average shares outstanding
23,239

 
23,355

 
23,228

 
 
 
 
 
 
 Basic earnings per share
$
5.77

 
$
5.05

 
$
3.32

 
 
 
 
 
 
Diluted Earnings Per Share
 
 
 
 
 
Numerator for diluted earnings per share
 
 
 
 
 
Earnings available to Universal Corporation common shareholders
$
134,159

 
$
117,900

 
$
77,207

Add: Dividends on convertible perpetual preferred stock (if conversion assumed)
14,850

 
14,850

 
14,850

Earnings available to Universal Corporation common shareholders for
calculation of diluted earnings per share
149,009

 
132,750

 
92,057

 
 
 
 
 
 
Denominator for diluted earnings per share
 
 
 
 
 
Weighted average shares outstanding
23,239

 
23,355

 
23,228

Effect of dilutive securities (if conversion or exercise assumed)
 
 
 
 
 
Convertible perpetual preferred stock
4,822

 
4,797

 
4,772

Employee share-based awards
331

 
326

 
339

Denominator for diluted earnings per share
28,392

 
28,478

 
28,339

 
 
 
 
 
 
Diluted earnings per share
$
5.25

 
$
4.66

 
$
3.25

For the fiscal years ended March 31, 2014, 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:
 
Fiscal Year Ended March 31,
 
2013
 
2012
 
2011
 
 
 
 
 
 
Potentially dilutive securities (shares in thousands)
169

 
169

 
348

Weighted-average exercise price
$
62.66

 
$
62.66

 
$
56.75