Earnings Per Share (Tables)

3 Months Ended

Sep. 30, 2021

Earnings Per Share [Abstract]

Computation of Earnings Per Share

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

	Three Months Ended September 30,
	2021		2020
Numerator
Net earnings	$	74,464	$	46,266
Deduct Series A preferred stock dividends	(6,900)		(6,440)
Deduct Series B dividends and deemed dividends	(10,182)		—
Basic earnings available to common shareholders	$	57,382	$	39,826
Effect of dilutive securities:
Add back interest on Convertible Senior Notes Due 2022 (net of tax)	$	502	$	—
Diluted earnings available to common shareholders	$	57,884	$	39,826
Denominator
Weighted average shares	105,761		102,809
Effect of dilutive securities:
Common stock equivalents	2,758		2,438
0.25% Convertible Senior Notes due 2022	7,330		—
Diluted weighted average common shares	115,849		105,247
Basic earnings per common share	$	0.54	$	0.39
Diluted earnings per common share	$	0.50	$	0.38

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

The following table presents potential shares of II-VI Common Stock excluded from the calculation of diluted earnings per share as their effect would have been anti-dilutive (000):

	Three Months Ended September 30,
	2021	2020
Series A Mandatory Convertible Preferred Stock	8,915	10,425
0.25% Convertible Senior Notes due 2022	—	7,331
Common stock equivalents	30	430
0.50% Finisar Convertible Notes	—	75
Series B Redeemable Preferred Stock	8,993	—
Total anti-dilutive shares	17,938	18,261