Earnings Per Share

12 Months Ended

Jun. 30, 2022

Earnings Per Share We compute basic earnings per share 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 67,000, 141,000 and 164,000 for the years ended June 30, 2022, 2021 and 2020, respectively, as the effect would have been anti-dilutive.

Basic and diluted earnings per share for the years ended June 30, 2022, 2021 and 2020 are calculated as follows (in thousands except per share data):


	2022		2021		2020
Numerator:
Net income	$	779,437	$	474,505	$	621,674
Denominator:
Basic weighted-average common shares outstanding	146,066		145,313		144,338
Effect of dilutive securities:
Stock options and restricted stock units	977		1,138		1,314
Diluted weighted average shares	147,043		146,451		145,652
Basic earnings per share	$	5.34	$	3.27	$	4.31
Diluted earnings per share	$	5.30	$	3.24	$	4.27