Earnings Per Share

9 Months Ended

Dec. 31, 2022

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)	2022		2021		2022		2021

Basic Earnings Per Share
Numerator for basic earnings per share
Net income attributable to Universal Corporation	$	41,660	$	34,940	$	70,345	$	60,807




Denominator for basic earnings per share
Weighted average shares outstanding	24,770,294		24,792,108		24,772,827		24,761,290

Basic earnings per share	$	1.68	$	1.41	$	2.84	$	2.46

Diluted Earnings Per Share
Numerator for diluted earnings per share



Net income attributable to Universal Corporation	$	41,660	$	34,940	$	70,345	$	60,807

Denominator for diluted earnings per share:
Weighted average shares outstanding	24,770,294		24,792,108		24,772,827		24,761,290
Effect of dilutive securities

Employee and outside director share-based awards	158,132		156,983		161,620		151,354
Denominator for diluted earnings per share	24,928,426		24,949,091		24,934,447		24,912,644

Diluted earnings per share	$	1.67	$	1.40	$	2.82	$	2.44