Annual report pursuant to Section 13 and 15(d)

Net Income per Common Share

v3.20.1
Net Income per Common Share
 12 Months Ended
Mar. 31, 2020
Earnings Per Share [Abstract]  
Net Income (Loss) per Common Share Net Income per Common Share
Basic net income per common share is computed by dividing net income available to Thermon Group Holdings, Inc. by the weighted average number of common shares outstanding during each period. Diluted net income per common share is computed by dividing net income available to Thermon Group Holdings, Inc. by the weighted average number of common shares and common share equivalents outstanding (if dilutive) during each period. The number of common share equivalents, which includes options and both restricted and performance stock units, is computed using the treasury stock method. With regard to the performance stock units, we assumed that the associated performance targets will be met at the target level of performance for purposes of calculating diluted net income per common share.
The reconciliations of the denominators used to calculate basic net income per common share and diluted net income per common share for fiscal 2020, fiscal 2019, and fiscal 2018, respectively, is as follows:
 
 
Year Ended March 31, 2020
 
Year Ended March 31, 2019
 
Year Ended March 31, 2018
Basic net income per common share
 
 
 
 
 
 
Net income available to Thermon Group Holdings, Inc.
 
$
11,938

 
$
22,756

 
$
11,913

Weighted-average common shares outstanding
 
32,760,327

 
32,568,541

 
32,423,581

Basic net income per common share
 
$
0.36

 
$
0.70

 
$
0.37

 
 
Year Ended March 31, 2020
 
Year Ended March 31, 2019
 
Year Ended March 31, 2018
Diluted net income per common share
 
 

 
 

 
 
Net income available to Thermon Group Holdings, Inc.
 
$
11,938

 
$
22,756

 
$
11,913

Weighted-average common shares outstanding
 
32,760,327

 
32,568,541

 
32,423,581

Common share equivalents:
 
 
 
 
 
 
Stock options issued
 
134,777

 
235,802

 
218,693

Restricted and performance stock units issued
 
253,566

 
249,961

 
155,077

Weighted average shares outstanding – dilutive
 
33,148,670

 
33,054,304

 
32,797,351

Diluted net income per common share
 
$
0.36

 
$
0.69

 
$
0.36



For the year ended March 31, 2018, 76,205 equity awards were not included in the calculation of diluted net income per common share since they would have had an anti-dilutive effect.