Quarterly report pursuant to Section 13 or 15(d)

Net Income per Common Share

v3.19.2
Net Income per Common Share
 3 Months Ended
Jun. 30, 2019
Earnings Per Share [Abstract]  
Net Income 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 and diluted net income per common share for the three months ended June 30, 2019 and 2018, respectively, are as follows:
 
 
Three Months Ended June 30, 2019
 
Three Months Ended June 30, 2018
Basic net income per common share
 
 
 
 
Net income available to Thermon Group Holdings, Inc.
 
$
1,471

 
$
3,042

Weighted-average common shares outstanding
 
32,635,295

 
32,501,280

Basic net income per common share
 
$
0.05

 
$
0.09

 
 
Three Months Ended June 30, 2019
 
Three Months Ended June 30, 2018
Diluted net income per common share
 
 

 
 

Net income available to Thermon Group Holdings, Inc.
 
$
1,471

 
$
3,042

Weighted-average common shares outstanding
 
32,635,295

 
32,501,280

Common share equivalents:
 
 
 
 
Stock options
 
208,220

 
215,037

Restricted and performance stock units
 
208,408

 
219,515

Weighted average shares outstanding – dilutive (1)
 
33,051,923

 
32,935,832

Diluted net income per common share
 
$
0.04

 
$
0.09


(1) For the three months ended June 30, 2019 and 2018, 13,074 and 5,767 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.