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Earnings Per Share (Tables)
 3 Months Ended
Jun. 30, 2013
Earnings Per Share [Abstract]  
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]
The following table sets forth the computation of basic and diluted earnings per share:
 
 
Three Months Ended
June 30,
(in thousands, except per share data)
 
2013
 
2012
 
 
 
 
 
Basic Earnings Per Share
 
 
 
 
Numerator for basic earnings per share
 
 
 
 
Net income attributable to Universal Corporation
 
$
58,309

 
$
23,125

Less: Dividends on convertible perpetual preferred stock
 
(3,712
)
 
(3,712
)
Earnings available to Universal Corporation common shareholders for calculation of basic earnings per share
 
54,597

 
19,413

 
 
 
 
 
Denominator for basic earnings per share
 
 
 
 
Weighted average shares outstanding
 
23,317

 
23,297

 
 
 
 
 
Basic earnings per share
 
$
2.34

 
$
0.83

 
 
 
 
 
Diluted Earnings Per Share
 
 
 
 
Numerator for diluted earnings per share
 
 
 
 
Earnings available to Universal Corporation common shareholders
 
$
54,597

 
$
19,413

Add: Dividends on convertible perpetual preferred stock (if conversion assumed)
 
3,712

 
3,712

Earnings available to Universal Corporation common shareholders for calculation of diluted earnings per share
 
58,309

 
23,125

 
 
 
 
 
Denominator for diluted earnings per share
 
 
 
 
Weighted average shares outstanding
 
23,317

 
23,297

Effect of dilutive securities (if conversion or exercise assumed)
 
 
 
 
Convertible perpetual preferred stock
 
4,812

 
4,788

Employee share-based awards
 
336

 
306

Denominator for diluted earnings per share
 
28,465

 
28,391

 
 
 
 
 
Diluted earnings per share
 
$
2.05

 
$
0.81
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]
For the three months ended June 30, 2013 and 2012, 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:
 
 
Three Months Ended
June 30,
 
 
2013
 
2012
 
 
 
 
 
Potentially dilutive securities (shares in thousands)
 
169

 
400

Weighted-average exercise price
 
$
62.66

 
$
55.37