Earnings Per Share Earnings Per Share (Text Block)

6 Months Ended

Dec. 31, 2021

EARNINGS PER SHARE

The following table reflects the reconciliation between basic and diluted earnings per share.


	Three Months Ended December 31,				Six Months Ended December 31,
	2021		2020		2021		2020
Net Income	$	95,670	$	71,982	$	197,783	$	163,198
Common share information:
Weighted average shares outstanding for basic earnings per share1	73,580		76,202		73,798		76,354
Dilutive effect of stock options and restricted stock	117		78		122		142
Weighted average shares outstanding for diluted earnings per share1	73,697		76,280		73,920		76,496
Basic earnings per share2	$	1.30	$	0.94	$	2.68	$	2.14
Diluted earnings per share2	$	1.30	$	0.94	$	2.68	$	2.13

1The change in weighted average shares outstanding is primarily due to the weighted effect of the Company's repurchase of 2,800 shares of common stock during all of fiscal 2021 (675 shares repurchased during the first half of fiscal 2021) and the repurchase of 1,250 shares during fiscal year-to-date 2022.

2Common stock repurchases during the trailing twelve months contributed $0.05 to diluted earnings per share for the second fiscal quarter and $0.09 for year-to-date fiscal 2022.

Per share information is based on the weighted average number of common shares outstanding for the three and six months ended December 31, 2021, and 2020. Stock options and restricted stock units have been included in the calculation of earnings per share to the extent they are dilutive. There were 28 and 23 anti-dilutive stock options or restricted stock units excluded for the three and six months ended December 31, 2021, respectively, and 21 were excluded for both the three and six months ended December 31, 2020.