Net Income Per Share

6 Months Ended

Sep. 30, 2018

Net Income per Share

The reconciliation of basic to diluted weighted-average common shares outstanding is as follows:



	Three Months Ended September 30,		Six Months Ended September 30,
	2018	2017	2018	2017
Basic	29,849,000	32,015,000	30,134,000	32,003,000
Dilutive effect of stock-based awards and options	179,000	257,000	193,000	253,000
Diluted	30,028,000	32,272,000	30,327,000	32,256,000

Excluded*
Annual RSUs and Annual PSUs	29,000	92,000	55,000	132,000
LTIP PSUs	84,000	269,000	84,000	269,000
LTIP NQSOs	377,000	397,000	377,000	397,000
Deferred Non-Employee Director Equity Awards	—	3,000	1,000	3,000

*The stock-based awards and options excluded from the dilutive effect are excluded due to one of the following: (1) the shares were anti-dilutive; (2) the necessary conditions had not been satisfied for the shares to be issuable based on the Company's performance; or (3) the Company recorded a net loss during the period presented. The number of shares stated for each of these excluded awards is the maximum number of shares issuable pursuant to these awards. Refer to Note 8, "Stock Compensation," for further information.