Earnings Per Share

6 Months Ended

Dec. 31, 2024

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 175,118 and 663,485 for the three months ended December 31, 2024 and 2023, respectively, and 289,854 and 643,466 for the six months ended December 31, 2024 and 2023, respectively, 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 December 31,				Six Months Ended December 31,
	2024		2023		2024		2023
Numerator:
Net income	$	344,622	$	208,800	$	655,977	$	428,222
Denominator:
Basic weighted-average common shares outstanding	146,810		147,132		146,835		147,104
Effect of dilutive securities:
Stock options and restricted stock units	671		413		685		468
Diluted weighted average shares	147,481		147,545		147,520		147,572
Basic earnings per share	$	2.35	$	1.42	$	4.47	$	2.91
Diluted earnings per share	$	2.34	$	1.42	$	4.45	$	2.90