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Earnings Per Share (Tables) | 9 Months Ended
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Dec. 31, 2015
Earnings Per Share [Abstract] |
Schedule of Earnings Per Share, Basic and Diluted | 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 share and per share data) |  | 2015 |  | 2014 |  | 2015 |  | 2014
Basic Earnings Per Share |  |  |  |  |  |  |  |
Numerator for basic earnings per share |  |  |  |  |  |  |  |
Net income attributable to Universal Corporation |  | $ | 44,534 |  |  | $ | 53,039 |  |  | $ | 61,052 |  |  | $ | 68,781 |
Less: Dividends on convertible perpetual preferred stock |  | (3,687 | ) |  | (3,712 | ) |  | (11,061 | ) |  | (11,137 | )
Less: Cost in excess of carrying value on repurchases of convertible perpetual preferred stock |  | — |  |  | (18 | ) |  | — |  |  | (18 | )
Earnings available to Universal Corporation common shareholders for calculation of basic earnings per share |  | 40,847 |  |  | 49,309 |  |  | 49,991 |  |  | 57,626 |
Denominator for basic earnings per share |  |  |  |  |  |  |  |
Weighted average shares outstanding |  | 22,717,043 |  |  | 23,095,861 |  |  | 22,671,943 |  |  | 23,165,553 |
Basic earnings per share |  | $ | 1.80 |  |  | $ | 2.13 |  |  | $ | 2.20 |  |  | $ | 2.49 |
Diluted Earnings Per Share |  |  |  |  |  |  |  |
Numerator for diluted earnings per share |  |  |  |  |  |  |  |
Earnings available to Universal Corporation common shareholders |  | $ | 40,847 |  |  | $ | 49,309 |  |  | $ | 49,991 |  |  | $ | 57,626 |
Add: Dividends on convertible perpetual preferred stock (if conversion assumed) |  | 3,687 |  |  | 3,712 |  |  | — |  |  | 11,137 |
Add: Cost in excess of carrying value on repurchases of convertible perpetual preferred stock |  | — |  |  | 18 |  |  | — |  |  | 18 |
Earnings available to Universal Corporation common shareholders for calculation of diluted earnings per share |  | 44,534 |  |  | 53,039 |  |  | 49,991 |  |  | 68,781 |
Denominator for diluted earnings per share |  |  |  |  |  |  |  |
Weighted average shares outstanding |  | 22,717,043 |  |  | 23,095,861 |  |  | 22,671,943 |  |  | 23,165,553 |
Effect of dilutive securities (if conversion or exercise assumed) |  |  |  |  |  |  |  |
Convertible perpetual preferred stock |  | 4,857,262 |  |  | 4,852,940 |  |  | — |  |  | 4,845,818 |
Employee share-based awards |  | 280,603 |  |  | 342,216 |  |  | 285,107 |  |  | 328,060 |
Denominator for diluted earnings per share |  | 27,854,908 |  |  | 28,291,017 |  |  | 22,957,050 |  |  | 28,339,431 |
Diluted earnings per share |  | $ | 1.60 |  |  | $ | 1.87 |  |  | $ | 2.18 |  |  | $ | 2.43 |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share | The Company had the following potentially dilutive securities (stock appreciation rights) outstanding for the nine months ended December 31, 2015 and 2014 that were not included in the computation of diluted earnings per share because their exercise price exceeded the market price of the Company's common stock, and thus their effect would have been antidilutive:
|  | Nine Months Ended December 31,
|  | 2015 |  | 2014
Potentially dilutive securities |  | 133,600 |  |  | 160,800 |
Weighted-average exercise price |  | $ | 62.66 |  |  | $ | 61.86 |

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- Definition Tabular disclosure of securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) in the future that were not included in the computation of diluted EPS because to do so would increase EPS amounts or decrease loss per share amounts for the period presented, by antidilutive securities. + 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 (c) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 + Details
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- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 + Details
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