Earnings per share

3 Months Ended

Sep. 30, 2021

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, 2021 and 2020.


	Three Months Ended
	September 30,
		2021		2020*
Numerator:
Net income attributable to common shareholders		$	451,157	$	319,803
Denominator:
Basic - weighted average common shares		128,726,721		128,707,745
Increase in weighted average common shares from dilutive effect of equity-based awards		2,101,250		1,586,478
Diluted - weighted average common shares, assuming exercise of equity-based awards		130,827,971		130,294,223

Basic earnings per share		$	3.50	$	2.48
Diluted earnings per share		$	3.45	$	2.45

*Prior period has been adjusted to reflect the change in inventory accounting method, as described in the Company's fiscal 2021 Annual Report on Form 10-K.

For the three months ended September 30, 2021 and 2020, 165,732 and 530,438 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.