Net Income Per Share

Basic income per share is determined by dividing net income by the weighted average common shares outstanding during the period. Diluted income per share is determined by dividing net income by diluted weighted average shares outstanding during the period. Diluted weighted average shares reflect the dilutive effect, if any, of potential common shares. To the extent their effect is dilutive, employee equity awards and other commitments to be settled in common stock are included in the calculation of diluted net income per share based on the treasury stock method.

The calculations of basic and diluted net income per share and basic and dilutive weighted average shares outstanding for the three months ended September 30, 2017 and 2016 are as follows:



	Three Months Ended September 30,
	2017		2016
	(Dollars and Shares in Thousands, Except per Share Data)
Net income	$	34,755	$	35,000

Weighted average shares outstanding	73,024		79,048

Dilutive impact from:
Share-based payment awards	585		337
Dilutive weighted average shares outstanding	73,609		79,385

Income per share
Basic	$	0.48	$	0.44
Dilutive	$	0.47	$	0.44

For the three months ended September 30, 2017 and 2016, certain employee equity awards were anti-dilutive based on the treasury stock method. Additionally, during the three months ended September 30, 2017, options to purchase 372,305 shares and of our common stock were not included in the computation of dilutive weighted average shares outstanding, because their exercise prices ranged from $60.05 per share to $63.77 per share and were greater than the average market price of our common stock during the period then ended. These options were outstanding as of September 30, 2017 and expire at various dates through August 31, 2027.

The following employee equity awards were excluded from the calculation of dilutive weighted average shares outstanding because their effect would be anti-dilutive as of September 30, 2017 and 2016:



	Three Months Ended September 30,
	2017	2016
	(Shares in Thousands)
Employee equity awards	674	1,535