Earnings (Loss) Per Share

9 Months Ended

Mar. 31, 2021

Earnings (Loss) Per Share [Abstract]

Earnings (Loss) Per Share

(9)      Earnings (Loss) Per Share

Basic earnings (loss) per share is computed by dividing the net income (loss) available to common stockholders by the weighted average number of shares of common stock outstanding. For purposes of calculating diluted earnings (loss) 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 calculation of diluted weighted average shares for the three months ended March 31, 2021 excluded 857,799 potentially dilutive common shares because we reported a net loss.

The weighted average number of outstanding stock options and restricted stock units not included in the computation of diluted earnings (loss) per share were 225,580 and 267,556 for the three months ended March 31, 2021 and 2020, respectively, and 200,341 and 128,789 for the nine months ended March 31, 2021 and 2020, respectively as the effect would have been anti-dilutive.

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

	Three Months Ended ‎March 31,				Nine Months Ended ‎March 31,
	2021		2020		2021		2020
Numerator:
Net income (loss)	$	(78,481)	$	163,137	$	279,405	$	443,839
Denominator:
Basic weighted-average common shares outstanding		145,513		144,638		145,217		144,112
Effect of dilutive securities:
Stock options and restricted stock units		-		1,042		1,177		1,378
Diluted weighted average shares		145,513		145,680		146,394		145,490
Basic earnings (loss) per share	$	(0.54)	$	1.13	$	1.92	$	3.08
Diluted earnings (loss) per share	$	(0.54)	$	1.12	$	1.91	$	3.05