Basic and Diluted Shares (Tables)

6 Months Ended

Sep. 30, 2019

Schedule of Weighted Average Number of Shares

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



	Three Months Ended September 30,		Six Months Ended September 30,
	2019	2018	2019	2018
Basic	28,483,000	29,849,000	28,785,000	30,134,000
Dilutive effect of equity awards	222,000	179,000	254,000	193,000
Diluted	28,705,000	30,028,000	29,039,000	30,327,000

Excluded*
Annual RSUs and Annual PSUs	54,000	29,000	52,000	55,000
LTIP PSUs	153,000	84,000	153,000	84,000
LTIP NQSOs	170,000	377,000	170,000	377,000
Deferred Non-Employee Director Equity Awards	—	—	—	1,000

*The equity awards 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 for the relevant performance period; 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. For those awards with performance criteria, the actual number of shares to be issued pursuant to such awards will be based on Company performance in future periods, net of forfeitures. Refer to Note 8, “Stock Compensation,” for further information.