Earnings Per Share

9 Months Ended

Mar. 31, 2022

Basic earnings per share is computed using the weighted average number of shares outstanding during the period, while diluted earnings per share is calculated to reflect the potential dilution that would occur related to the issuance of capital stock under stock option grants, performance awards and restricted stock units. The difference between basic and diluted earnings per share relates solely to the effect of capital stock options, performance awards and restricted stock units.

The following table provides the computation of diluted shares outstanding for the three and nine months ended March 31, 2022 and 2021:


	Three Months Ended March 31,		Nine Months Ended March 31,
(in thousands)	2022	2021	2022	2021
Weighted-average shares outstanding during period	83,084	83,719	83,538	83,539
Add: Unexercised stock options and unvested restricted stock units	723	869	730	645
Number of shares on which diluted earnings per share is calculated	83,807	84,588	84,268	84,184
Unexercised stock options with an exercise price greater than the average market price and restricted stock units not included in the computation because they were anti-dilutive	372	217	340	321