Earnings per Share

9 Months Ended

Jun. 30, 2022

The following table presents reconciliations for the numerators and denominators of basic and diluted earnings per share (“EPS”) for the quarters and nine-month periods ended June 30, 2022 and 2021:


	Quarter Ended June 30,				Nine Months Ended June 30,
	2022		2021		2022		2021
	(In thousands, except per share data)
Numerator for diluted and basic earnings per share:
Net income	$	93,500	$	151,198	$	282,842	$	306,364
Denominator — share:
Basic weighted-average shares	25,634		28,687		26,319		28,967
Effect of dilutive securities	233		508		289		538
Diluted weighted-average shares	25,867		29,195		26,608		29,505
Earnings per share:
Basic	$	3.65	$	5.27	$	10.75	$	10.58
Diluted	$	3.61	$	5.18	$	10.63	$	10.38

We exclude the options to purchase shares of common stock in the computation of the diluted EPS where the exercise price of the options exceeds the average market price of our common stock as their inclusion would be antidilutive. There were approximately 43,000 and 12,000 options excluded for the quarters ended June 30, 2022 and 2021, respectively. There were approximately 32,000 and 12,000 options excluded for nine months ended June 30, 2022 and 2021, respectively.