Earnings Per Share

6 Months Ended

Dec. 31, 2025

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 six months ended December 31, 2025 and 2024:


	Three Months Ended December 31,		Six Months Ended December 31,
(in thousands)	2025	2024	2025	2024
Weighted-average shares outstanding during the period	76,194	77,724	76,161	77,896
Add: Unexercised stock options and unvested restricted stock units	889	655	758	599
Number of shares on which diluted earnings per share is calculated	77,083	78,379	76,919	78,495
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	17	96	121	168