Earnings Per Share

12 Months Ended

Mar. 31, 2014

Earnings Per Share [Abstract]

Earnings Per Share

EARNINGS PER SHARE

Basic earnings per share is calculated by dividing net earnings by the weighted average number of shares of the Company’s common stock outstanding during the period. Outstanding shares consist of issued shares less treasury stock. Diluted earnings per share is calculated by dividing net earnings by the weighted average common shares outstanding adjusted for the dilutive effect of common stock equivalents related to stock options and the Company’s ESPP.

Outstanding stock options that are anti-dilutive are excluded from the Company’s diluted earnings per share computation. There were approximately 1.5 million, 1.3 million and 1.8 million shares covered by outstanding stock options that were not dilutive for the years ended March 31, 2014, 2013 and 2012, respectively.

The table below presents the computation of basic and diluted weighted average common shares outstanding for the years ended March 31, 2014, 2013 and 2012:

(In thousands, except per share amounts)	Years Ended March 31,
Basic Earnings per Share Computation	2014		2013		2012
Numerator:
Net earnings	$	350,784	$	340,874	$	313,374
Denominator:
Basic shares outstanding	73,623		76,651		76,586
Basic earnings per share	$	4.76	$	4.45	$	4.09
(In thousands, except per share amounts)	Years Ended March 31,
Diluted Earnings per Share Computation	2014		2013		2012
Numerator:
Net earnings	$	350,784	$	340,874	$	313,374
Denominator:
Basic shares outstanding	73,623		76,651		76,586
Incremental shares from assumed exercises and conversions:
Stock options and options under the Employee Stock Purchase Plan	1,287		1,656		1,738
Diluted shares outstanding	74,910		78,307		78,324
Diluted earnings per share	$	4.68	$	4.35	$	4.00