Earnings per share

3 Months Ended

Sep. 30, 2017

The following table presents a reconciliation of the numerator and denominator of basic and diluted earnings per share for the three months ended September 30, 2017 and 2016.



	Three Months Ended
	September 30,
	2017		2016
Numerator:
Net income attributable to common shareholders	$	285,397	$	210,129
Denominator:
Basic - weighted average common shares	133,176,964		133,679,378
Increase in weighted average common shares from dilutive effect of equity-based awards	2,617,306		2,146,280
Diluted - weighted average common shares, assuming exercise of equity-based awards	135,794,270		135,825,658
Basic earnings per share	$	2.14	$	1.57
Diluted earnings per share	$	2.10	$	1.55

For the three months ended September 30, 2017 and 2016, 603,884 and 2,328,216 common shares subject to equity-based awards, respectively, were excluded from the computation of diluted earnings per share because the effect of their exercise would be anti-dilutive.