Annual report pursuant to Section 13 and 15(d)

Net Income per Common Share

v3.8.0.1
Net Income per Common Share
 12 Months Ended
Mar. 31, 2018
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 2018, fiscal 2017, and fiscal 2016, respectively, is as follows:
 
 
Year Ended March 31, 2018
 
Year Ended March 31, 2017
 
Year Ended March 31, 2016
Basic net income per common share
 
 
 
 
 
 
Net income available to Thermon Group Holdings, Inc.
 
$
11,913

 
$
14,641

 
$
23,009

Weighted-average common shares outstanding
 
32,423,581

 
32,301,661

 
32,176,925

Basic net income per common share
 
$
0.37

 
$
0.45

 
$
0.72

 
 
Year Ended March 31, 2018
 
Year Ended March 31, 2017
 
Year Ended March 31, 2016
Diluted net income per common share
 
 

 
 

 
 
Net income available to Thermon Group Holdings, Inc.
 
$
11,913

 
$
14,641

 
$
23,009

Weighted-average common shares outstanding
 
32,423,581

 
32,301,661

 
32,176,925

Common share equivalents:
 
 
 
 
 
 
Stock options issued
 
218,693

 
216,041

 
241,529

Restricted and performance stock units issued
 
155,077

 
115,579

 
174,192

Weighted average shares outstanding – dilutive
 
32,797,351

 
32,633,281

 
32,592,646

Diluted net income per common share
 
$
0.36

 
$
0.45

 
$
0.71



For the years ended March 31, 2018, 2017 and 2016, 76,205, 59,950 and 49,097 equity awards, respectively, were not included in the calculation of diluted net income per common share since they would have had an anti-dilutive effect.