Earnings per share

9 Months Ended

Mar. 31, 2022

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, 2022 and 2021.


	Three Months Ended				Nine Months Ended
	March 31,				March 31,
	2022		2021*		2022		2021*
Numerator:
Net income attributable to common shareholders	$	348,017	$	473,153	$	1,186,774	$	1,241,307
Denominator:
Basic - weighted average common shares	128,426,675		129,085,563		128,549,040		128,935,696
Increase in weighted average common shares from dilutive effect of equity-based awards	1,916,906		2,292,370		1,889,553		1,690,904
Diluted - weighted average common shares, assuming exercise of equity-based awards	130,343,581		131,377,933		130,438,593		130,626,600

Basic earnings per share	$	2.71	$	3.67	$	9.23	$	9.63
Diluted earnings per share	$	2.67	$	3.60	$	9.10	$	9.50

*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 March 31, 2022 and 2021, 493,609 and 133 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, 2022 and 2021, 384,955 and 589,364 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.