Earnings per share

3 Months Ended

Sep. 30, 2019

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, 2019 and 2018.



	Three Months Ended
	September 30,
	2019		2018
Numerator:
Net income attributable to common shareholders	$	338,898	$	375,711
Denominator:
Basic - weighted average common shares	128,463,992		132,361,654
Increase in weighted average common shares from dilutive effect of equity-based awards	1,666,084		2,302,842
Diluted - weighted average common shares, assuming exercise of equity-based awards	130,130,076		134,664,496
Basic earnings per share	$	2.64	$	2.84
Diluted earnings per share	$	2.60	$	2.79

For the three months ended September 30, 2019 and 2018, 1,097,639 and 732,095 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.