EARNINGS PER SHARE (Tables)

9 Months Ended

Dec. 31, 2018

Schedule of Basic and Diluted Earnings Per Share

The following summarizes the computation of earnings per share:


	Three Months Ended December 31,								Nine Months Ended December 31,
(in thousands, except per share data)	2018			2017		2018			2017
Basic (loss) income per share:
Net (loss) income attributable to Pyxus International, Inc.	$	(5,095)		$	88,456	$	(60,487)		$	56,936
Shares:
Weighted average number of shares outstanding	9,068			9,001		9,048			8,982
Basic (loss) income per share	$	(0.56)		$	9.83	$	(6.69)		$	6.34

Diluted (loss) income per share:
Net (loss) income attributable to Pyxus International, Inc.	$	(5,095)		$	88,456	$	(60,487)		$	56,936
Shares:
Weighted average number of shares outstanding	9,068			9,001		9,048			8,982
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	—		*	28		—		*	27
Adjusted weighted average number of shares outstanding	9,068			9,029		9,048			9,009
Diluted (loss) income per share	$	(0.56)		$	9.80	$	(6.69)		$	6.32
*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.

Net income for the three and nine months ended December 31, 2017 were favorably impacted by a net tax benefit of $73.3 million primarily attributable to the impact of the 2017 U.S. Tax Reform Act.