Earnings Per Share

12 Months Ended

Jun. 30, 2020

EARNINGS PER SHARE

Basic earnings per share (“EPS”) is calculated by dividing the Company’s Net earnings by the basic Weighted-average shares outstanding for the periods presented. The Company calculates diluted EPS using the treasury stock method, which reflects the potential dilution that could occur if outstanding stock options at the presented date are exercised and restricted stock unit awards have vested.

As of June 30, 2020, 2019 and 2018, the computation of diluted EPS did not include 0.5 million, 0.4 million and 1.1 million options to purchase Broadridge common stock, respectively, as the effect of their inclusion would have been anti-dilutive.

The following table sets forth the denominators of the basic and diluted EPS computations:


	Years ended June 30,
	2020	2019	2018
	(in millions)
Weighted-average shares outstanding:
Basic	114.7	115.9	116.8
Common stock equivalents	2.3	2.9	3.5
Diluted	117.0	118.8	120.4

The following table sets forth the computation of basic EPS utilizing Net earnings for the following fiscal years and the Company’s basic Weighted-average shares outstanding:


	Years ended June 30,
	2020		2019		2018
	(in millions, except per share amounts)
Net earnings	$	462.5	$	482.1	$	427.9
Basic Weighted-average shares outstanding	114.7		115.9		116.8
Basic EPS	$	4.03	$	4.16	$	3.66

The following table sets forth the computation of diluted EPS utilizing Net earnings for the following fiscal years and the Company’s diluted Weighted-average shares outstanding:


	Years ended June 30,
	2020		2019		2018
	(in millions, except per share amounts)
Net earnings	$	462.5	$	482.1	$	427.9
Diluted Weighted-average shares outstanding	117.0		118.8		120.4
Diluted EPS	$	3.95	$	4.06	$	3.56