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Earnings Per Share
 12 Months Ended
Mar. 31, 2013
Earnings Per Share [Abstract]  
Earnings Per Share
EARNINGS PER SHARE

The following table sets forth the computation of basic and diluted earnings per share:
 
Fiscal Year Ended March 31,
 
2013
 
2012
 
2011
Basic Earnings Per Share
 
 
 
 
 
Numerator for basic earnings per share
 
 
 
 
 
Net income attributable to Universal Corporation
$
132,750

 
$
92,057

 
$
156,565

Less: Dividends on convertible perpetual preferred stock
(14,850
)
 
(14,850
)
 
(14,850
)
Earnings available to Universal Corporation common shareholders for
calculation of basic earnings per share
117,900

 
77,207

 
141,715

 
 
 
 
 
 
 Denominator for basic earnings per share
 
 
 
 
 
Weighted average shares outstanding
23,355

 
23,228

 
23,859

 
 
 
 
 
 
 Basic earnings per share
$
5.05

 
$
3.32

 
$
5.94

 
 
 
 
 
 
Diluted Earnings Per Share
 
 
 
 
 
Numerator for diluted earnings per share
 
 
 
 
 
Earnings available to Universal Corporation common shareholders
$
117,900

 
$
77,207

 
$
141,715

Add: Dividends on convertible perpetual preferred stock (if conversion assumed)
14,850

 
14,850

 
14,850

Earnings available to Universal Corporation common shareholders for
calculation of diluted earnings per share
132,750

 
92,057

 
156,565

 
 
 
 
 
 
Denominator for diluted earnings per share
 
 
 
 
 
Weighted average shares outstanding
23,355

 
23,228

 
23,859

Effect of dilutive securities (if conversion or exercise assumed)
 
 
 
 
 
Convertible perpetual preferred stock
4,797

 
4,772

 
4,750

Employee share-based awards
326

 
339

 
279

Denominator for diluted earnings per share
28,478

 
28,339

 
28,888

 
 
 
 
 
 
Diluted earnings per share
$
4.66

 
$
3.25

 
$
5.42


For the fiscal years ended March 31, 2013, 2012 and 2011, the Company had the following potentially dilutive securities (stock appreciation rights and/or stock options) outstanding that were not included in the computation of diluted earnings per share because their effect would have been antidilutive:
 
Fiscal Year Ended March 31,
 
2013
 
2012
 
2011
 
 
 
 
 
 
Potentially dilutive securities (shares in thousands)
169

 
348

 
623

Weighted-average exercise price
$
62.66

 
$
56.75

 
$
53.44