Earnings Per Share

3 Months Ended

Sep. 30, 2019

Earnings Per Share [Abstract]

Earnings Per Share

(11)      Earnings Per Share

Basic earnings per share is computed by dividing the net income available to common stockholders by the weighted average number of shares of common stock outstanding. For purposes of calculating diluted earnings per share, the denominator includes both the weighted average number of shares of common stock outstanding and the number of dilutive common stock equivalents such as stock options and restricted stock units.

The weighted average number of outstanding stock options and restricted stock units not included in the computation of diluted earnings per share were 693 and 10,006 for the three months ended September 30, 2019 and September 30, 2018, respectively, were not included in the computation of diluted earnings per share as the effect would have been anti-dilutive.

Basic and diluted earnings per share are calculated as follows (in thousands except per share data):

	Three Months Ended ‎September 30,
	2019		2018
Numerator:
Net income	$	120,148	$	105,737
Denominator:
Basic weighted-average common shares outstanding		143,719		142,668
Effect of dilutive securities:
Stock options and restricted stock units		1,380		1,362
Diluted weighted average shares		145,099		144,030
Basic earnings per share	$	0.84	$	0.74
Diluted earnings per share	$	0.83	$	0.73