Earnings Per Share

12 Months Ended

Jun. 30, 2011

Earnings Per Share

5. Earnings Per Share

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 stock-based awards. The computation of net income per share was as follows:

	2011		2010		2009
Numerator:
Net income attributable to common shareholders	$	1,049,130	$	554,065	$	508,515
Denominator:
Basic – weighted-average common shares		161,125,869		160,909,655		161,564,111
Increase in weighted-average common shares from dilutive effect of stock-based awards		3,672,352		1,992,062		1,155,037
Diluted – weighted-average common shares, assuming exercise of stock-based awards		164,798,221		162,901,717		162,719,148
Basic earnings per share	$	6.51	$	3.44	$	3.15
Diluted earnings per share	$	6.37	$	3.40	$	3.13

For 2011, 2010 and 2009, 1.6 million, 9.0 million, and 6.4 million common shares, respectively, subject to stock-based awards were excluded from the computation of diluted earnings per share because the effect of their exercise would be anti-dilutive.