SHAREHOLDERS’ EQUITY

Treasury Shares

At June 30, 2019, 128 shares of the Company’s common stock held as treasury shares were restricted as collateral under escrow arrangements relating to change in control and director and officer indemnification agreements.

Accumulated Other Comprehensive Income (Loss)

Changes in the accumulated other comprehensive income (loss) for the years ended June 30, 2019, 2018, and 2017, are comprised of the following amounts, shown net of taxes:



	Foreign currency translation adjustment			Unrealized (loss) gain on securities available for sale			Post-employment benefits			Cash flow hedge			Total accumulated other comprehensive (loss) income
Balance at July 1, 2016	$	(81,685	)	$	(38	)	$	(3,823	)	$	—		$	(85,546	)
Other comprehensive income	2,238			59			1,239			—			3,536
Amounts reclassified from accumulated other comprehensive income (loss)	—			—			308			—			308
Net current-period other comprehensive income	2,238			59			1,547			—			3,844
Balance at June 30, 2017	(79,447		)	21			(2,276		)	—			(81,702		)
Other comprehensive (loss) income	(8,549		)	20			524			—			(8,005		)
Amounts reclassified from accumulated other comprehensive income (loss)	—			—			(45		)	—			(45		)
Amounts reclassified for certain income tax effects to retained earnings	22			9			(502		)	—			(471		)
Net current-period other comprehensive (loss) income	(8,527		)	29			(23		)	—			(8,521		)
Balance at June 30, 2018	(87,974		)	50			(2,299		)	—			(90,223		)
Other comprehensive income (loss)	1,644			—			(327		)	(10,887		)	(9,570		)
Amounts reclassified from accumulated other comprehensive income (loss)	—			—			(226		)	183			(43		)
Cumulative effect of adopting accounting standards	—			(50		)	—			—			(50		)
Net current-period other comprehensive income (loss)	1,644			(50		)	(553		)	(10,704		)	(9,663		)
Balance at June 30, 2019	$	(86,330	)	$	—		$	(2,852	)	$	(10,704	)	$	(99,886	)

Other Comprehensive (Loss) Income

Details of other comprehensive (loss) income are as follows:



Year Ended June 30,	2019									2018									2017
	Pre-Tax Amount			Tax Expense (Benefit)			Net Amount			Pre-Tax Amount			Tax (Benefit) Expense			Net Amount			Pre-Tax Amount		Tax Expense		Net Amount
Foreign currency translation adjustments	$	2,021		$	377		$	1,644		$	(8,875	)	$	(326	)	$	(8,549	)	$	2,238	$	—	$	2,238
Post-employment benefits:
Actuarial (loss) gain on re-measurement	(372		)	(45		)	(327		)	709			185			524			2,038		799		1,239
Reclassification of actuarial (gains) losses and prior service cost into other income, net and included in net periodic pension costs	(306		)	(80		)	(226		)	(73		)	(28		)	(45		)	506		198		308
Unrealized gain on investment securities available for sale	—			—			—			37			17			20			91		32		59
Unrealized loss on cash flow hedge	(14,446		)	(3,559		)	(10,887		)	—			—			—			—		—		—
Reclassification of interest from cash flow hedge into interest expense	244			61			183			—			—			—			—		—		—
Cumulative effect of adopting accounting standard	(50		)	—			(50		)	—			—			—			—		—		—
Reclassification of certain income tax effects to retained earnings	—			—			—			—			471			(471		)	—		—		—
Other comprehensive (loss) income	$	(12,909	)	$	(3,246	)	$	(9,663	)	$	(8,202	)	$	319		$	(8,521	)	$	4,873	$	1,029	$	3,844

Net Income Per Share

Basic net income per share is based on the weighted-average number of common shares outstanding. Diluted net income per share includes the dilutive effect of potential common shares outstanding. Under the two-class method of computing net income per share, non-vested share-based payment awards that contain rights to receive non-forfeitable dividends are considered participating securities. The Company’s participating securities include Restricted Stock Units ("RSUs") and restricted stock awards. The Company calculated basic and diluted net income per share under both the treasury stock method and the two-class method. For the years presented there were no material differences in the net income per share amounts calculated using the two methods. Accordingly, the treasury stock method is disclosed below.

The following table presents amounts used in computing net income per share and the effect on the weighted-average number of shares of dilutive potential common shares:



Year Ended June 30,	2019		2018		2017
Net Income	$	143,993	$	141,625	$	133,910
Average Shares Outstanding:
Weighted-average common shares outstanding for basic computation	38,670		38,752		39,013
Dilutive effect of potential common shares	490		529		391
Weighted-average common shares outstanding for dilutive computation	39,160		39,281		39,404
Net Income Per Share — Basic	$	3.72	$	3.65	$	3.43
Net Income Per Share — Diluted	$	3.68	$	3.61	$	3.40

Stock awards relating to 226, 66 and 141 shares of common stock were outstanding at June 30, 2019, 2018 and 2017, respectively, but were not included in the computation of diluted earnings per share for the fiscal years then ended as they were anti-dilutive.