Weighted-Average Shares Outstanding

3 Months Ended

Sep. 30, 2020

WEIGHTED-AVERAGE SHARES OUTSTANDING

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.

The computation of diluted EPS excluded less than 0.1 million options to purchase Broadridge common stock for the three months ended September 30, 2020, as the effect of their inclusion would have been anti-dilutive. For the three months ended September 30, 2019, there were no options to purchase Broadridge common stock that would have been anti-dilutive to exclude from the computation of diluted EPS.

The following table sets forth the denominators of the basic and diluted EPS computations (in millions):


	Three Months Ended September 30,
	2020	2019
Weighted-average shares outstanding:
Basic	115.3	114.4
Common stock equivalents	2.1	2.7
Diluted	117.4	117.1