Earnings Per Share

9 Months Ended

Dec. 31, 2020

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 share and per share data)	2020		2019		2020		2019

Basic Earnings Per Share
Numerator for basic earnings per share
Net income attributable to Universal Corporation	$	33,273	$	25,966	$	48,049	$	56,115




Denominator for basic earnings per share
Weighted average shares outstanding	24,677,122		24,931,711		24,646,342		25,058,525

Basic earnings per share	$	1.35	$	1.04	$	1.95	$	2.24

Diluted Earnings Per Share
Numerator for diluted earnings per share



Net income attributable to Universal Corporation	$	33,273	$	25,966	$	48,049	$	56,115

Denominator for diluted earnings per share:
Weighted average shares outstanding	24,677,122		24,931,711		24,646,342		25,058,525
Effect of dilutive securities

Employee and outside director share-based awards	141,796		123,343		118,097		119,992
Denominator for diluted earnings per share	24,818,918		25,055,054		24,764,439		25,178,517

Diluted earnings per share	$	1.34	$	1.04	$	1.94	$	2.23