EARNINGS PER SHARE

12 Months Ended

Mar. 31, 2025

11. EARNINGS PER SHARE

Basic earnings per share is calculated by dividing net earnings available to common shareholders by the basic weighted average number of shares of common stock outstanding during each period. Diluted earnings per share is calculated by dividing net earnings available to common shareholders by the basic weighted average number of shares of common stock outstanding plus common stock equivalents during each period.

The following table provides a reconciliation of the numerators and denominators used to calculate basic and diluted net earnings per common share as disclosed in our consolidated statements of operations for the fiscal years ended March 31, 2025, 2024 and 2023 (in thousands, except per share data):


	2025		2024		2023
Net earnings attributable to common shareholders – basic and diluted	$	107,978	$	115,776	$	119,356

Basic and diluted common shares outstanding:
Weighted average common shares outstanding – basic		26,503		26,610		26,569
Effect of dilutive shares		163		107		85
Weighted average shares common outstanding – diluted		26,666		26,717		26,654

Earnings per common share – basic	$	4.07	$	4.35	$	4.49
Earnings per common share – diluted	$	4.05	$	4.33	$	4.48