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Earnings Per Share | 9 Months Ended
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Dec. 31, 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 December 31, |  | Nine Months Ended December 31,
(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 |  | $ | 38,585 |  |  | $ | 35,542 |  |  | $ | 122,338 |  |  | $ | 106,648 |
Less: Dividends on convertible perpetual preferred stock |  | (3,712 | ) |  | (3,712 | ) |  | (11,137 | ) |  | (11,137 | )
Earnings available to Universal Corporation common shareholders for calculation of basic earnings per share |  | 34,873 |  |  | 31,830 |  |  | 111,201 |  |  | 95,511 |
Denominator for basic earnings per share |  |  |  |  |  |  |  |
Weighted average shares outstanding |  | 23,216 |  |  | 23,406 |  |  | 23,246 |  |  | 23,361 |
Basic earnings per share |  | $ | 1.50 |  |  | $ | 1.36 |  |  | $ | 4.78 |  |  | $ | 4.09 |
Diluted Earnings Per Share |  |  |  |  |  |  |  |
Numerator for diluted earnings per share |  |  |  |  |  |  |  |
Earnings available to Universal Corporation common shareholders |  | $ | 34,873 |  |  | $ | 31,830 |  |  | $ | 111,201 |  |  | $ | 95,511 |
Add: Dividends on convertible perpetual preferred stock (if conversion assumed) |  | 3,712 |  |  | 3,712 |  |  | 11,137 |  |  | 11,137 |
Earnings available to Universal Corporation common shareholders for calculation of diluted earnings per share |  | 38,585 |  |  | 35,542 |  |  | 122,338 |  |  | 106,648 |
Denominator for diluted earnings per share |  |  |  |  |  |  |  |
Weighted average shares outstanding |  | 23,216 |  |  | 23,406 |  |  | 23,246 |  |  | 23,361 |
Effect of dilutive securities (if conversion or exercise assumed) |  |  |  |  |  |  |  |
Convertible perpetual preferred stock |  | 4,824 |  |  | 4,800 |  |  | 4,818 |  |  | 4,794 |
Employee share-based awards |  | 324 |  |  | 311 |  |  | 324 |  |  | 315 |
Denominator for diluted earnings per share |  | 28,364 |  |  | 28,517 |  |  | 28,388 |  |  | 28,470 |
Diluted earnings per share |  | $ | 1.36 |  |  | $ | 1.25 |  |  | $ | 4.31 |  |  | $ | 3.75 |
For the nine months ended December 31, 2013 and 2012, the Company had the following potentially dilutive securities (stock appreciation rights) outstanding that were not included in the computation of diluted earnings per share because their effect would have been antidilutive:
|  | Nine Months Ended December 31,
|  | 2013 |  | 2012
Potentially dilutive securities (shares in thousands) |  | 169 |  |  | 301 |
Weighted-average exercise price |  | $ | 62.66 |  |  | $ | 58.15 |

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