| Schedule of reconciliation of the denominators used to calculate basic EPS and diluted EPS |
The reconciliations of the denominators used to calculate basic and diluted net income per common share for the three and six months ended September 30, 2017 and 2016, respectively, are as follows:
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Three Months Ended September 30, 2017 |
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Three Months Ended September 30, 2016 |
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Six Months Ended September 30, 2017 |
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Six Months Ended September 30, 2016 |
Basic net income per common share |
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Net income available to Thermon Group Holdings, Inc. |
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$ |
4,778 |
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$ |
3,506 |
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$ |
5,257 |
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$ |
6,032 |
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Weighted-average common shares outstanding |
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32,408,143 |
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32,278,361 |
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32,412,819 |
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32,255,476 |
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Basic net income per common share |
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$ |
0.15 |
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$ |
0.11 |
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$ |
0.16 |
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$ |
0.19 |
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Three Months Ended September 30, 2017 |
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Three Months Ended September 30, 2016 |
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Six Months Ended September 30, 2017 |
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Six Months Ended September 30, 2016 |
Diluted net income per common share |
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Net income available to Thermon Group Holdings, Inc. |
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$ |
4,778 |
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$ |
3,506 |
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$ |
5,257 |
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$ |
6,032 |
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Weighted-average common shares outstanding |
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32,408,143 |
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32,278,361 |
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32,412,819 |
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32,255,476 |
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Common share equivalents: |
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Stock options |
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192,179 |
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224,795 |
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197,734 |
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226,396 |
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Restricted and performance stock units |
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189,199 |
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107,779 |
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106,822 |
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98,416 |
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Weighted average shares outstanding – dilutive (1) |
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32,789,521 |
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32,610,935 |
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32,717,375 |
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32,580,288 |
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Diluted net income per common share |
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$ |
0.15 |
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$ |
0.11 |
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$ |
0.16 |
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$ |
0.19 |
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(1) For the three and six months ended September 30, 2017, 52,252 and 47,999 equity awards, respectively, were not included in the calculation of diluted net income per common share, as they would have had an anti-dilutive effect. For the three and six months ended September 30, 2016, 68,736 and 70,799 equity awards, respectively, were not included in the calculation of diluted net income per common share, as they would have had an anti-dilutive effect.
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