Net income per common share

12 Months Ended

Mar. 31, 2011

Notes to Financial Statements [Abstract]

Net income per common share

22. NET INCOME PER COMMON SHARE

The following table sets forth the computation of basic and diluted net income per share from continuing operations (in thousands, except per share amounts):

	Year Ended March 31,
	2011		2010		2009
Net income from continuing operations	$	429,167	$	217,005	$	245,587
Weighted average common shares outstanding		187,066		183,642		183,158
Dilutive effect of stock options and RSUs		4,463		3,697		3,336
Dilutive effect of convertible debt		3,186		---		294
Weighted average common and potential common shares outstanding		194,715		187,339		186,788
Basic net income per common share – continuing operations	$	2.29	$	1.18	$	1.34
Diluted net income per common share – continuing operations	$	2.20	$	1.16	$	1.31

Weighted average common shares exclude the effect of antidilutive options.  For the year ended March 31, 2011, the number of option shares that were antidilutive were 132,084.  For the year ended March 31, 2010, the number of option shares that were antidilutive were 4,109,841.  For the year ended March 31, 2009, the number of option shares that were antidilutive were 3,685,806.

Diluted net income per common share for the year ended March 31, 2011 and March 31, 2009 included 3,185,591 shares and 294,445 shares, respectively, issuable upon the exchange of the debentures (see Note 14).  There were no shares issuable upon the exchange of the debentures for the year ended March 31, 2010.  The debentures impact diluted net income per common share when the average price of the Company's common stock exceeds the conversion price because the principal amount of the debentures will be settled in cash upon conversion.  Prior to conversion, the Company will include, in the diluted net income per common share calculation, the effect of the additional shares that may be issued when the Company's common stock price exceeds the conversion price, using the treasury stock method.  The weighted average conversion price per share used in calculating the dilutive effect of the convertible debt for the year ended March 31, 2011 was $29.61.

Diluted net loss per common share for discontinued operations the year ended March 31, 2011 was $(0.05).