Earnings Per Share

3 Months Ended

Jun. 30, 2016

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 785 at June 30, 2016 and 2015. 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 469 at a weighted average exercise price of $60.70 per share at June 30, 2016 and 656 at a weighted average exercise price of $60.39 per share at June 30, 2015.

The following table summarizes the computation of earnings per share for the three months ended June 30, 2016 and 2015, respectively.



	Three Months Ended June 30,
(in thousands, except per share data)	2016				2015
BASIC LOSS
Net loss attributable to Alliance One International, Inc.	$	(31,505	)		$	(25,950	)

SHARES
Weighted average number of shares outstanding	8,904				8,862

BASIC LOSS PER SHARE	$	(3.54	)		$	(2.93	)

DILUTED LOSS
Net loss attributable to Alliance One International, Inc.	$	(31,505	)		$	(25,950	)

SHARES
Weighted average number of common shares outstanding	8,904				8,862
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	—			*	—			*
Adjusted weighted average number of common shares outstanding	8,904				8,862
DILUTED LOSS PER SHARE	$	(3.54	)		$	(2.93	)

* 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.