Earnings per share

9 Months Ended

Mar. 31, 2020

The following table presents a reconciliation of the numerator and denominator of basic and diluted earnings per share for the three and nine months ended March 31, 2020 and 2019.



	Three Months Ended				Nine Months Ended
	March 31,				March 31,
	2020		2019		2020		2019
Numerator:
Net income attributable to common shareholders	$	367,253	$	411,248	$	910,625	$	1,098,696
Denominator:
Basic - weighted average common shares	128,289,720		128,706,137		128,383,549		130,476,355
Increase in weighted average common shares from dilutive effect of equity-based awards	1,456,827		2,178,831		1,479,266		2,022,021
Diluted - weighted average common shares, assuming exercise of equity-based awards	129,746,547		130,884,968		129,862,815		132,498,376
Basic earnings per share	$	2.86	$	3.20	$	7.09	$	8.42
Diluted earnings per share	$	2.83	$	3.14	$	7.01	$	8.29

For the three months ended March 31, 2020 and 2019, 753,028 and 833,239 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. For the nine months ended March 31, 2020 and 2019, 516,067 and 925,721 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.