Earnings Per Share

12 Months Ended

Jun. 30, 2013

Earnings Per Share [Abstract]

Earnings Per Share

Earnings Per Share

Basic earnings per share (EPS) is computed by dividing net income by the weighted-average number of common shares outstanding during the year. Diluted EPS is computed by dividing net income by the weighted-average number of common shares and dilutive common shares outstanding, which includes stock options, during the year. A reconciliation of the basic average common shares outstanding to diluted average common shares outstanding as of June 30 follows (in thousands, except per share data):

	2013		2012		2011
Net income	$	243,623	$	281,377	$	298,808
Basic average common shares outstanding	177,290		175,980		174,812
Effect of dilutive stock options	2,038		1,402		1,131
Diluted weighted average common shares outstanding	179,328		177,382		175,943
Earnings per share:
Basic	$	1.37	$	1.60	$	1.71
Diluted	$	1.36	$	1.59	$	1.70

Excluded from the computations above were anti-dilutive shares of 3.3 million, 2.7 million and 5.6 million in fiscal 2013, 2012, and 2011, respectively.