| Schedule of antidilutive securities |
Diluted earnings per common share excludes options to purchase shares and restricted stock awards, which were outstanding during the period but were anti-dilutive, as follows: | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended
December 31, | | Nine Months Ended
December 31, | | | | | 2014 | | 2013 | | 2014 | | 2013 | | | Options: | | | | | | | | | | | Outstanding | | 483,237 |
| | 576,178 |
| | 654,630 |
| | 530,965 |
| | | Weighted average exercise price | | $ | 73.88 |
| | $ | 53.33 |
| | $ | 68.78 |
| | $ | 51.78 |
| | | Restricted stock awards: | | | | | | | | | | | Outstanding | | — |
| | — |
| | — |
| | 274 |
| | | Weighted average price | | $ | — |
| | $ | — |
| | $ | — |
| | $ | 64.20 |
| |
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| Schedule Of Earnings Per Share Basic And Diluted [Table Text Block] |
The following table sets forth the computation of basic and diluted earnings per share: | | | | | | | | | | | | | | | | | | | | Three Months Ended
December 31, | | Nine Months Ended
December 31, | | | 2014 | | 2013 | | 2014 | | 2013 | Net income (loss) available to common stockholders (in thousands): | | | | | | | | | Income (loss) available to common stockholders – basic | | $ | (968 | ) | | $ | 18,927 |
| | $ | 69,223 |
| | $ | 156,419 |
| Interest expense on assumed conversion of 3% Convertible Senior Notes, net of tax (1) | | — |
| | — |
| | — |
| | — |
| Income (loss) available to common stockholders – diluted | | $ | (968 | ) | | $ | 18,927 |
| | $ | 69,223 |
| | $ | 156,419 |
| Shares: | | | | | | | | | Weighted average number of common shares outstanding – basic | | 35,039,875 |
| | 36,477,191 |
| | 35,332,925 |
| | 36,175,207 |
| Assumed conversion of 3% Convertible Senior Notes outstanding during the period (1) | | — |
| | — |
| | — |
| | — |
| Net effect of dilutive stock options and restricted stock awards based on the treasury stock method | | 248,727 |
| | 292,603 |
| | 324,194 |
| | 398,750 |
| Weighted average number of common shares outstanding – diluted | | 35,288,602 |
| | 36,769,794 |
| | 35,657,119 |
| | 36,573,957 |
| | | | | | | | | | Basic earnings (loss) per common share | | $ | (0.03 | ) | | $ | 0.52 |
| | $ | 1.96 |
| | $ | 4.32 |
| Diluted earnings (loss) per common share | | $ | (0.03 | ) | | $ | 0.51 |
| | $ | 1.94 |
| | $ | 4.28 |
|
_____________ | | (1) | Diluted earnings per common share for the three and nine months ended December 31, 2014 and 2013 excludes a number of potentially dilutive shares determined pursuant to a specified formula initially issuable upon the conversion of our 3% Convertible Senior Notes. The 3% Convertible Senior Notes will be convertible, under certain circumstances, using a net share settlement process, into a combination of cash and our Common Stock. As of December 31, 2014, the base conversion price of the notes was approximately $73.07, based on the base conversion rate of 13.6849 shares of Common Stock per $1,000 principal amount of convertible notes (subject to adjustment in certain circumstances, including the payment of dividends). In general, upon conversion of a note, the holder will receive cash equal to the principal amount of the note and Common Stock to the extent of the note’s conversion value in excess of such principal amount. In addition, if at the time of conversion the applicable price of our Common Stock exceeds the base conversion price, holders will receive up to an additional 8.8952 shares of our Common Stock per $1,000 principal amount of notes, as determined pursuant to a specified formula. Such shares did not impact our calculation of diluted earnings per share for the three and nine months ended December 31, 2014 and 2013 as our average stock price during these periods did not meet or exceed the conversion requirements. |
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| Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] |
The following table sets forth the changes in the balances of each component of accumulated other comprehensive income: | | | | | | | | | | | | | | | | Currency Translation Adjustments | | Pension Liability Adjustments (1) | | Total | Balance as of March 31, 2014 | | $ | 57,812 |
| | $ | (214,318 | ) | | $ | (156,506 | ) | Other comprehensive income before reclassification | | (28,276 | ) | | — |
| | (28,276 | ) | Reclassified from accumulated other comprehensive income | | — |
| | — |
| | — |
| Net current period other comprehensive income | | (28,276 | ) | | — |
| | (28,276 | ) | Foreign exchange rate impact | | (13,154 | ) | | 13,154 |
| | — |
| Balance at December 31, 2014 | | $ | 16,382 |
| | $ | (201,164 | ) | | $ | (184,782 | ) |
_____________ | | (1) | Reclassification of amounts related to pension liability adjustments are included as a component of net periodic pension cost. |
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