(Loss) Earnings Per Share

12 Months Ended

Mar. 31, 2013

Earnings Per Share [Abstract]

(LOSS) EARNINGS PER SHARE

(LOSS) EARNINGS PER SHARE

The Company computes basic (loss) earnings per share by dividing net (loss) earnings by the weighted average number of common shares outstanding during the period. Diluted (loss) earnings per share is computed by dividing net (loss) earnings, after adding back the after-tax amount of interest recognized in the period associated with the Company’s Floating Rate Convertible Senior Subordinated Notes, by diluted weighted average shares outstanding. For the fiscal years ended March 31, 2013, 2012 and 2011, market rates were below the level at which interest payments for these notes are required.

Potentially dilutive shares include the assumed exercise of stock options and the assumed vesting of restricted stock and stock unit awards (using the treasury stock method) as well as the assumed conversion of the convertible debt, if dilutive (using the if-converted method). Shares which are contingently issuable under the Company’s plan of reorganization have been included as outstanding common shares for purposes of calculating basic (loss) earnings per share. Basic and diluted (loss) earnings per share for the fiscal years ended March 31, 2013, 2012 and 2011 are summarized as follows:

	For the Fiscal Year Ended
	March 31, 2013			March 31, 2012		March 31, 2011
	(In thousands, except per share amounts)
Net income (loss) attributable to
Exide Technologies	$	(223,399	)	$	56,739	$	26,443
Basic weighted average shares outstanding	77,270			77,667		76,678
Effect of dilutive securities:
Floating Rate Convertible
Senior Subordinated Notes	—			3,697		3,697
Employee stock options	—			292		619
Employee restricted stock
awards (non-vested)	—			425		315
	—			4,414		4,631
Diluted weighted average
shares outstanding	77,270			82,081		81,309
Basic (loss) earnings per share:	$	(2.89	)	$	0.73	$	0.34
Diluted (loss) earnings per share:	$	(2.89	)	$	0.69	$	0.33

Due to a net loss for the fiscal year ended March 31, 2013, certain potentially dilutive shares were excluded from the diluted loss per share calculation because their effect would be antidilutive:

	March 31, 2013
Shares associated with convertible debt (assumed conversion)	3,697
Employee stock options	2,872
Restricted stock awards (non-vested)	1,502
Total shares excluded	8,071

For the fiscal year ended March 31, 2013, 2012 and 2011 approximately 2.9 million, 1.8 million and 1.5 million stock options were excluded from the diluted (loss) earnings per share calculation because their exercise prices were greater than the average market price of the related common stock for the period, and their inclusion would be antidilutive. The remaining options were included in the treasury stock method calculation, and the resulting incremental shares were included in the calculation of diluted (loss) earnings per share.