Earnings Per Share

12 Months Ended

Jun. 30, 2024

NOTE 3: EARNINGS PER SHARE

Basic and diluted earnings per share is computed using the two-class method. The two-class method is an earnings allocation formula that determines net income per share for each class of common stock and participating security according to dividends declared and participation rights in undistributed earnings. Per share amounts are computed by dividing net income from continuing operations attributable to common shareholders by the weighted average shares outstanding during each period.

The computations of basic and diluted earnings per share from continuing operations are as follows:


(in 000s, except per share amounts)
Year ended June 30,	2024		2023		2022
Net income from continuing operations attributable to shareholders	$	597,963	$	561,800	$	560,646
Amounts allocated to participating securities	(2,390)		(2,272)		(2,468)
Net income from continuing operations attributable to common shareholders	$	595,573	$	559,528	$	558,178

Basic weighted average common shares	141,932		154,044		168,519
Potential dilutive shares	1,958		3,204		2,916
Dilutive weighted average common shares	143,890		157,248		171,435

Earnings per share from continuing operations attributable to common shareholders:
Basic	$	4.20	$	3.63	$	3.31
Diluted	4.14		3.56		3.26

Diluted earnings per share excludes the impact of shares of common stock issuable upon the lapse of certain restrictions or the exercise of options to purchase 0.1 million, 0.6 million and 0.4 million shares of stock for fiscal years 2024, 2023 and 2022, respectively, as the effect would be antidilutive.