| Summary of Net Income Per Share |
The following table presents information necessary to calculate net income per share for the periods presented, as well as potentially dilutive securities excluded from the weighted average number of diluted common shares outstanding because their inclusion would have been anti-dilutive:
|
|
|
Three Months Ended
December 31, |
|
|
Nine Months Ended
December 31, |
|
|
(In thousands, except per share data) |
|
2019 |
|
|
2018 |
|
|
2019 |
|
|
2018 |
|
|
NET INCOME PER SHARE—BASIC: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income (loss) attributable to ADS |
|
$ |
23,288 |
|
|
$ |
15,812 |
|
|
$ |
(195,479 |
) |
|
$ |
76,762 |
|
|
Adjustments for: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Dividends to redeemable convertible preferred
stockholders |
|
|
(1,334 |
) |
|
|
(467 |
) |
|
|
(9,530 |
) |
|
|
(1,442 |
) |
|
Dividends paid to unvested restricted stockholders |
|
|
(3 |
) |
|
|
(25 |
) |
|
|
(335 |
) |
|
|
(55 |
) |
|
Net income (loss) available to common stockholders
and participating securities |
|
|
21,951 |
|
|
|
15,320 |
|
|
|
(205,344 |
) |
|
|
75,265 |
|
|
Undistributed income allocated to participating
securities |
|
|
(2,822 |
) |
|
|
(1,027 |
) |
|
|
— |
|
|
|
(6,048 |
) |
|
Net income (loss) available to common
stockholders – Basic |
|
$ |
19,129 |
|
|
$ |
14,293 |
|
|
$ |
(205,344 |
) |
|
$ |
69,217 |
|
|
Weighted average number of common shares
outstanding – Basic |
|
|
68,508 |
|
|
|
57,180 |
|
|
|
62,119 |
|
|
|
56,925 |
|
|
Net income (loss) per common share – Basic |
|
$ |
0.28 |
|
|
$ |
0.25 |
|
|
$ |
(3.31 |
) |
|
$ |
1.22 |
|
|
NET INCOME PER SHARE—DILUTED: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income (loss) available to common
stockholders – Diluted |
|
$ |
19,129 |
|
|
$ |
14,293 |
|
|
$ |
(205,344 |
) |
|
$ |
69,217 |
|
|
Weighted average number of common shares
outstanding – Basic |
|
|
68,508 |
|
|
|
57,180 |
|
|
|
62,119 |
|
|
|
56,925 |
|
|
Assumed exercise of stock options |
|
|
641 |
|
|
|
505 |
|
|
|
— |
|
|
|
557 |
|
|
Restricted stock |
|
|
149 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
Weighted average number of common shares
outstanding – Diluted |
|
|
69,298 |
|
|
|
57,685 |
|
|
|
62,119 |
|
|
|
57,482 |
|
|
Net income (loss) per common share – Diluted |
|
$ |
0.28 |
|
|
$ |
0.25 |
|
|
$ |
(3.31 |
) |
|
$ |
1.20 |
|
|
Potentially dilutive securities excluded as
anti-dilutive |
|
|
14,915 |
|
|
|
6,079 |
|
|
|
14,084 |
|
|
|
6,068 |
|
|