XML 33 R18.htm IDEA: XBRL DOCUMENT v3.8.0.1
Earnings Per Common Share
 12 Months Ended
Mar. 31, 2018
Earnings Per Common Share [Abstract]  
Earnings Per Common Share

NOTE 10 – EARNINGS PER COMMON SHARE



The following is a reconciliation of basic and diluted earnings per common share for the respective years:







 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

Year Ended Fiscal March

 

 

2018

 

2017

 

2016

 

 

(Amounts in thousands, except per share data)

Numerator for earnings per common share calculation:

 

 

 

 

 

 

 

 

 

Net Income

 

$

 63,935 

 

$

 61,526 

 

$

 66,805 

Less:   Preferred stock dividends

 

 

 (368)

 

 

 (447)

 

 

 (456)

Income available to common stockholders

 

$

 63,567 

 

$

 61,079 

 

$

 66,349 

Denominator for earnings per common share calculation:

 

 

 

 

 

 

 

 

 

Weighted average common shares, basic

 

 

 32,767 

 

 

 32,413 

 

 

 32,026 

Effect of dilutive securities:

 

 

 

 

 

 

 

 

 

Preferred stock

 

 

 510 

 

 

 675 

 

 

 760 

Stock options

 

 

 56 

 

 

 213 

 

 

 567 

Restricted stock

 

 

 8 

 

 

 —

 

 

 —

Weighted average common shares, diluted

 

 

 33,341 

 

 

 33,301 

 

 

 33,353 

Basic earnings per common share:

 

$

 1.94 

 

$

 1.88 

 

$

 2.07 

Diluted earnings per common share:

 

$

 1.92 

 

$

 1.85 

 

$

 2.00 



The computation of diluted earnings per common share for fiscal 2018, 2017 and 2016 excludes the effect of assumed exercise of approximately 1,091,000,  304,000 and 171,000 of stock options, respectively, as the exercise price of these options was greater than the average market value of our common stock for those periods, resulting in an anti-dilutive effect on diluted earnings per common share.