Earnings Per Share

9 Months Ended

Mar. 31, 2025

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 141,360 and 578,065 for the three months ended March 31, 2025 and 2024, respectively, and 163,746 and 618,664 for the nine months ended March 31, 2025 and 2024, 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 March 31,				Nine Months Ended March 31,
	2025		2024		2025		2024
Numerator:
Net income	$	365,041	$	300,492	$	1,021,018	$	728,715
Denominator:
Basic weighted-average common shares outstanding	146,719		146,959		146,797		147,056
Effect of dilutive securities:
Stock options and restricted stock units	501		491		635		493
Diluted weighted average shares	147,220		147,450		147,432		147,549
Basic earnings per share	$	2.49	$	2.04	$	6.96	$	4.96
Diluted earnings per share	$	2.48	$	2.04	$	6.93	$	4.94