Net Income Per Share

9 Months Ended

Dec. 31, 2014

Earnings Per Share [Abstract]

Net Income Per Share

Net Income Per Share

Basic net income per share is calculated based on the weighted average common shares outstanding for the period. Basic net income per share for the three and nine months ended December 31, 2014 and 2013 is presented below:

	Three Months Ended				Nine Months Ended
	December 31,				December 31,
	2014		2013		2014		2013
	(Amounts in thousands, except per share amounts)
Basic Net Income Per Common Share:
Numerator:
Net income	$	98,185	$	88,763	$	162,227	$	102,885
Denominator:
Weighted average common shares outstanding	139,963		137,946		138,618		137,097
Basic Net Income Per Common Share	$	0.70	$	0.64	$	1.17	$	0.75

Diluted net income per common share reflects the potential dilutive effect, if any, of the conversion of convertible senior subordinated notes under the "if converted" method. Diluted net income per common share also reflects share purchase options, including equity-settled share appreciation rights and restricted share units ("RSUs") using the treasury stock method when dilutive, and any contingently issuable shares when dilutive. Diluted net income per common share for the three and nine months ended December 31, 2014 and 2013 is presented below:

	Three Months Ended				Nine Months Ended
	December 31,				December 31,
	2014		2013		2014		2013
	(Amounts in thousands, except per share amounts)
Diluted Net Income Per Common Share:
Numerator:
Net income	$	98,185	$	88,763	$	162,227	$	102,885
Add:
Interest on convertible notes, net of tax	1,163		2,137		4,456		6,315
Numerator for Diluted Net Income Per Common Share	$	99,348	$	90,900	$	166,683	$	109,200
Denominator:
Weighted average common shares outstanding	139,963		137,946		138,618		137,097
Effect of dilutive securities:
Conversion of notes	8,360		13,815		9,995		13,842
Share purchase options	2,943		2,797		2,662		2,619
Restricted share units	447		579		441		639
Adjusted weighted average common shares outstanding	151,713		155,137		151,716		154,197
Diluted Net Income Per Common Share	$	0.65	$	0.59	$	1.10	$	0.71

For the three and nine months ended December 31, 2014 and 2013, the Company's outstanding common shares issuable presented below were excluded from diluted net income per common share because their inclusion would have had an anti-dilutive effect.

	Three Months Ended		Nine Months Ended
	December 31,		December 31,
	2014	2013	2014	2013
	(Amounts in thousands)
Anti-dilutive shares issuable
Share purchase options	3,122	2,630	4,334	2,203
Restricted share units	97	117	144	52
Contingently issuable shares	298	451	286	446
Total weighted average anti-dilutive shares issuable excluded from Diluted Net Income Per Common Share	3,517	3,198	4,764	2,701