Quarterly report pursuant to Section 13 or 15(d)

Net Income per Common Share

v3.19.3.a.u2
Net Income per Common Share
 9 Months Ended
Dec. 31, 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 and nine months ended December 31, 2019 and 2018, respectively, are as follows:
 
 
Three Months Ended December 31, 2019
 
Three Months Ended December 31, 2018
 
Nine Months Ended December 31, 2019
 
Nine Months Ended December 31, 2018
Basic net income per common share
 
 
 
 
 
 
 
 
Net income available to Thermon Group Holdings, Inc.
 
$
6,522

 
$
9,719

 
$
14,906

 
$
15,988

Weighted-average common shares outstanding
 
32,785,753

 
32,595,259

 
32,716,317

 
32,556,157

Basic net income per common share
 
$
0.20

 
$
0.30

 
$
0.46

 
$
0.49

 
 
Three Months Ended December 31, 2019
 
Three Months Ended December 31, 2018
 
Nine Months Ended December 31, 2019
 
Nine Months Ended December 31, 2018
Diluted net income per common share
 
 
 
 
 
 

 
 

Net income available to Thermon Group Holdings, Inc.
 
$
6,522

 
$
9,719

 
$
14,906

 
$
15,988

Weighted-average common shares outstanding
 
32,785,753

 
32,595,259

 
32,716,317

 
32,556,157

Common share equivalents:
 
 
 
 
 
 
 
 
Stock options
 
163,357

 
202,971

 
161,420

 
215,472

Restricted and performance stock units
 
309,827

 
318,251

 
246,843

 
228,697

Weighted average shares outstanding – dilutive
 
33,258,937

 
33,116,481

 
33,124,580

 
33,000,326

Diluted net income per common share
 
$
0.20

 
$
0.29

 
$
0.45

 
$
0.48