EARNINGS PER SHARE

Basic earnings per share are computed by dividing net income, attributable to OpenText, by the weighted average number of Common Shares outstanding during the period. Diluted earnings per share are computed by dividing net income, attributable to OpenText, by the shares used in the calculation of basic earnings per share plus the dilutive effect of Common Share equivalents, such as stock options, using the treasury stock method. Common Share equivalents are excluded from the computation of diluted earnings per share if their effect is anti-dilutive.



	Three Months Ended December 31,				Six Months Ended December 31,
	2017		2016		2017		2016
Basic earnings per share
Net income attributable to OpenText	$	85,111	$	45,022	$	121,707	$	957,906	(1)
Basic earnings per share attributable to OpenText	$	0.32	$	0.18	$	0.46	$	3.92
Diluted earnings per share
Net income attributable to OpenText	$	85,111	$	45,022	$	121,707	$	957,906	(1)
Diluted earnings per share attributable to OpenText	$	0.32	$	0.18	$	0.46	$	3.89
Weighted-average number of shares outstanding
Basic	265,504		245,653		265,153		244,282
Effect of dilutive securities	1,353		1,848		1,396		1,841
Diluted	266,857		247,501		266,549		246,123
Excluded as anti-dilutive⁽²⁾	2,795		1,618		2,635		1,445

⁽¹⁾ Please also see note 14 "Income Taxes" for details relating to a one-time tax benefit of $876.1 million recorded during the three months ended September 30, 2016 in connection with an internal reorganization of our subsidiaries.

⁽²⁾ Represents options to purchase Common Shares excluded from the calculation of diluted earnings per share because the exercise price of the stock options was greater than or equal to the average price of the Common Shares during the period.