Earnings per Share (Tables)

12 Months Ended

Mar. 31, 2021

Schedule of Earnings Per Share, Basic and Diluted

The following table sets forth reconciliations of the numerators and denominators used to compute basic and diluted earnings per share of Class A common stock:


	Year Ended March 31,
	2021		2020		2019
Basic net income per share:
Numerator
Net income attributable to HLI	$	98,022	$	60,825	$	33,573
Less: Deemed dividend for the accretion of redeemable non-controlling interest	(4,637)		—		—
Net income attributable to Class A common stockholders - basic	$	93,385	$	60,825	$	33,573
Denominator
Weighted-average shares of Class A common stock outstanding - basic	33,152,318		28,088,578		23,836,401
Basic earnings per share	$	2.82	$	2.17	$	1.41

Diluted earnings per share:
Numerator
Net income attributable to Class A common stockholders - basic	$	93,385	$	60,825	$	33,573
Adjustment to net income:
Assumed vesting of employee awards	229		352		355
Net income attributable to Class A common stockholders - diluted	$	93,614	$	61,177	$	33,928
Denominator
Weighted-average shares of Class A common stock outstanding - basic	33,152,318		28,088,578		23,836,401
Weighted-average effect of dilutive securities:
Assumed vesting of employee awards	210,047		350,194		462,394
Weighted-average shares of Class A common stock outstanding - diluted	33,362,365		28,438,772		24,298,795
Diluted earnings per share	$	2.81	$	2.15	$	1.40