XML 29 R19.htm IDEA: XBRL DOCUMENT v3.20.2
Net Income Per Share
9 Months Ended
Jun. 30, 2020
Net Income Per Share [Abstract]  
Net Income Per Share Net Income Per Share
Basic net income per share is computed by dividing net income by the weighted average number of common shares outstanding during the period. Diluted net income per share is computed by dividing net income by the weighted average number of common and dilutive common stock equivalent shares outstanding during the period. The Company's nonvested restricted units do not have nonforfeitable rights to dividends or dividend equivalents and are not considered participating securities that should be included in the computation of earnings per share under the two-class method.
The following table sets forth the computation of basic and diluted net income per share (in thousands, except per share data):
 Three months ended
June 30,
Nine months ended
June 30,
 2020201920202019
Numerator
Net income$69,872  $85,905  $229,778  $332,897  
Denominator
Weighted average shares outstanding — basic60,978  59,981  60,831  59,963  
Dilutive effect of common shares from stock options and restricted stock units
437  215  351  409  
Weighted average shares outstanding — diluted61,415  60,196  61,182  60,372  
Basic net income per share$1.15  $1.43  $3.78  $5.55  
Diluted net income per share$1.14  $1.43  $3.76  $5.51  
Anti-dilutive stock-based awards excluded from the calculations of diluted earnings per share were immaterial for the three and nine months ended June 30, 2020 and 2019.