The Company is authorized to issue up to 5.0 shares of preferred stock, par value $0.01 per share. There were no preferred shares outstanding at March 31, 2020.

The Company is authorized to issue up to 150.0 shares of common stock, par value $0.01 per share. There were 74.5 shares issued and outstanding at March 31, 2020.

	Nine months ended		Year ended
	March 31,		June 30,
	2020		2019
Beginning common stock issued and outstanding		73.5		70.6
Common stock issued upon exercise of options and employee stock plans		1.0		4.5
Repurchase and retirement of common stock		—		(1.6	)
Common stock issued and outstanding at end of period		74.5		73.5

Basic earnings per share is computed based on the weighted-average number of shares of common stock outstanding. Diluted earnings per share is computed based on the weighted-average number of shares of common stock, including the dilutive effect of common stock equivalents, outstanding. In periods when the Company has a net loss, stock awards are excluded from the calculation of diluted net loss per share as their inclusion would have an antidilutive effect.

The following is a reconciliation of the denominators of the basic and diluted earnings per share (“EPS”) computations:

	Three months ended				Nine months ended
	March 31,				March 31,
	2020		2019		2020		2019
Denominator:
Weighted-average shares outstanding used to compute basic EPS		74.5		73.3		74.2		73.5
Effect of dilutive shares		—		1.6		—		2.9
Weighted-average shares outstanding and dilutive securities used to compute diluted EPS		74.5		74.9		74.2		76.4

Certain outstanding options and restricted stock units (“RSUs”) were excluded from the computation of diluted earnings per share because the effect would have been anti-dilutive. These potential dilutive common shares, which may be dilutive to future diluted earnings per share, are as follows:

	Three months ended				Nine months ended
	March 31,				March 31,
	2020		2019		2020		2019
Anti-dilutive options and RSU's excluded from EPS computation		0.4		1.0		0.9		0.7

In June 2016, the Company’s Board of Directors authorized an eighth share repurchase program of $200.0 of the Company’s outstanding common stock. The Company plans to repurchase its common stock from time to time or on an accelerated basis through open market transactions or privately negotiated transactions as determined by the Company’s management. The amount and timing of stock repurchases under the program will depend on business and market conditions, stock price, trading restrictions, acquisition activity and other factors. As of March 31, 2020, the Company has $110.7 remaining on its current share repurchase authorization.

The Company uses the par value method of accounting for its stock repurchases. As a result of the stock repurchases, the Company reduced common stock and additional paid-in capital and recorded charges to accumulated deficit. The shares retired, aggregate common stock and additional paid-in capital reductions, and related charges to accumulated deficit for the repurchases for three and nine months ended March 31, 2020 and 2019 were as follows:

	Three months ended				Nine months ended
	March 31,				March 31,
	2020		2019		2020		2019
Shares purchased and retired		—		—		—		1.6
Common stock and additional paid-in-capital reductions	$	—	$	—	$	—	$	16.9
Charges to retained earnings	$	—	$	—	$	—	$	33.1