Earnings Per Share

6 Months Ended

Sep. 30, 2013

Earnings Per Share [Abstract]

Earnings Per Share

EARNINGS PER SHARE

The weighted average number of common shares outstanding is reported as the weighted average of the total shares of common stock outstanding net of shares of common stock held by a wholly owned subsidiary. Shares of common stock owned by the subsidiary were 7,853 at September 30, 2013 and 2012. This subsidiary waives its right to receive dividends and it does not have the right to vote.

          Certain potentially dilutive options were not included in the computation of earnings per diluted share because their exercise prices were greater than the average market price of the shares of common stock during the period and their effect would be antidilutive. These shares totaled 6,888 at a weighted average exercise price of $6.04 per share at September 30, 2013 and 7,189 at a weighted average exercise price of $6.01 per share at September 30, 2012.

          In connection with the offering of the Company’s 5 ½% Convertible Senior Subordinated Notes due 2014, issued on July 2, 2009 (the “Convertible Notes”), the Company entered into privately negotiated convertible note hedge transactions (the “convertible note hedge transactions”) equal to the number of shares that underlie the Company’s Convertible Notes. These convertible note hedge transactions are expected to reduce the potential dilution of the Company’s common stock upon conversion of the Convertible Notes in the event that the value per share of common stock exceeds the initial conversion price of $5.0280 per share. These shares were not included in the computation of earnings per diluted share because their inclusion would be antidilutive.

          The following table summarizes the computation of earnings per share for the three months and six months ended September 30, 2013 and 2012, respectively.

	Three Months Ended September 30,							Six Months Ended September 30,
(in thousands, except per share data)	2013				2012			2013				2012
BASIC INCOME (LOSS)
Net income (loss) attributable to Alliance One International, Inc.	$	(45,982	)		$	18,368		$	(82,844	)		$	(12,375	)
SHARES
Weighted average number of shares outstanding	87,570				87,367			87,522				87,280
BASIC INCOME (LOSS) PER SHARE	$	(.53	)		$	.21		$	(.95	)		$	(0.14	)
DILUTED INCOME (LOSS)
Net income (loss) attributable to Alliance One International, Inc.	$	(45,982	)		$	18,368		$	(82,844	)		$	(12,375	)
Plus interest expense on 5 1/2% convertible notes,    net of tax	—			*	1,016			—			*	—			*
Net income (loss) attributable to Alliance One          International, Inc. as adjusted	$	(45,982	)		$	19,384		$	(82,844	)		$	(12,375	)
SHARES
Weighted average number of common shares    outstanding	87,570				87,367			87,522				87,280
Plus: Restricted shares issued and shares applicable to               stock options and restricted stock units, net of              shares assumed to be purchased from proceeds              at average market price	—			*	306			—			*	—			*
Assuming conversion of 5 1/2% convertible               notes at the time of issuance	—			*	22,872			—			*	—			*
Shares applicable to stock warrants	—			**	—		**	—			**	—			**
Adjusted weighted average number of common   shares outstanding	87,570				110,545			87,522				87,280
DILUTED INCOME (LOSS) PER SHARE	$	(.53	)		$	.18		$	(.95	)		$	(0.14	)
* Assumed conversion of convertible notes at the beginning of the period has an antidilutive effect on earnings per share. All outstanding restricted shares and shares applicable to stock options and restricted stock units are excluded because their inclusion would have an antidilutive effect on the loss per share.
** For the three months and six months ended September 30, 2013 and 2012, the warrants were not assumed exercised because the exercise price was more than the average price for the periods presented.