Earnings Per Share

12 Months Ended

Jun. 30, 2022

Basic earnings per share are computed using the weighted-average number of common shares outstanding during the year. Diluted earnings per share are computed using the weighted-average number of common shares and common share equivalents outstanding during the year. Common share equivalents represent the dilutive effect of outstanding equity-based awards. The reconciliation of the numerator and denominator of basic and diluted earnings per share was as follows:


	2022		2021		2020
Numerator:
Net income attributable to common shareholders	$	1,315,605	$	1,746,100	$	1,201,970
Denominator:
Basic - weighted-average common shares	128,539,387		128,999,879		128,418,495
Increase in weighted-average common shares from dilutive effect of equity-based awards	1,816,556		1,834,599		1,386,539
Diluted - weighted-average common shares, assuming exercise of equity-based awards	130,355,943		130,834,478		129,805,034
Basic earnings per share	$	10.24	$	13.54	$	9.36
Diluted earnings per share	$	10.09	$	13.35	$	9.26

For 2022, 2021 and 2020, 0.4 million, 0.4 million and 0.6 million common shares, respectively, subject to equity-based awards were excluded from the computation of diluted earnings per share because the effect of their exercise would be anti-dilutive.