Earnings Per Share

9 Months Ended

Dec. 31, 2018

EARNINGS PER SHARE

The following table sets forth the computation of basic and diluted earnings per share:



	Three Months Ended December 31,				Nine Months Ended December 31,
(in thousands, except share and per share data)	2018		2017		2018		2017

Basic Earnings Per Share
Numerator for basic earnings per share
Net income attributable to Universal Corporation	$	28,135	$	45,400	$	72,760	$	75,144

Denominator for basic earnings per share
Weighted average shares outstanding	25,162,268		25,230,336		25,126,595		25,323,796

Basic earnings per share	$	1.12	$	1.80	$	2.90	$	2.97

Diluted Earnings Per Share
Numerator for diluted earnings per share
Net income attributable to Universal Corporation	$	28,135	$	45,400	$	72,760	$	75,144

Denominator for diluted earnings per share:
Weighted average shares outstanding	25,162,268		25,230,336		25,126,595		25,323,796
Effect of dilutive securities
Employee share-based awards	203,498		230,073		202,878		222,274
Denominator for diluted earnings per share	25,365,766		25,460,409		25,329,473		25,546,070

Diluted earnings per share	$	1.11	$	1.78	$	2.87	$	2.94