Earnings Per Share (Tables)

12 Months Ended

Jun. 30, 2021

The following is a reconciliation of the numerators and denominators of the basis and diluted earnings (loss) per share computations for the periods presented ($000):


Year Ended June 30,	2021		2020		2019
($000 except per share)
Numerator
Net earnings (loss)	$	297,552	$	(67,029)	$	107,517
Deduct Series A preferred stock dividends	(27,140)		—		—
Deduct Series B redeemable preferred stock dividends	(9,583)		—		—
Deduct Series B redeemable preferred stock deemed dividends	(508)		—		—
Basic earnings (loss) available to common shareholders	$	260,321	$	(67,029)	$	107,517

Effect of dilutive securities:
Add back interest on II-VI Notes Due 2022	$	12,264	$	—	$	—



Diluted earnings (loss) available to common shareholders	$	272,585	$	(67,029)	$	107,517

Denominator
Weighted average shares	104,151		84,828		63,584
Effect of dilutive securities
Stock options, performance and restricted shares	3,552		—		2,220
II-VI Notes due 2022	7,331		—		—


Diluted weighted average common shares	115,034		84,828		65,804

Basic earnings (loss) per common share	$	2.50	$	(0.79)	$	1.69

Diluted earnings (loss) per common share	$	2.37	$	(0.79)	$	1.63

Schedule of Potential Shares of Common Stock Excluded from the Calculation of Diluted Net Income Per Share

The following table presents potential shares of common stock excluded from the calculation of diluted net earnings (loss) per share, as their effect would have been antidilutive (in thousands of shares):


Year Ended June 30,	2021	2020	2019
Series A Mandatory Convertible Preferred Stock	8,915	—	—
Series B Redeemable Preferred Stock	2,230	—	—
II-VI Notes due 2022	—	7,331	7,331
Stock options, performance and restricted shares	118	2,345	115
0.50% Finisar Convertible Notes	—	289	—
Total anti-dilutive shares	11,263	9,965	7,446