Earnings Per Share

3 Months Ended

Sep. 30, 2024

Basic earnings per share is computed using the weighted average number of shares outstanding during the period, while diluted earnings per share is calculated to reflect the potential dilution that would occur related to the issuance of capital stock under stock option grants, performance awards and restricted stock units. The difference between basic and diluted earnings per share relates solely to the effect of capital stock options, performance awards and restricted stock units.

The following table provides the computation of diluted shares outstanding for the three months ended September 30, 2024 and 2023:


	Three Months Ended September 30,
(in thousands)	2024	2023
Weighted-average shares outstanding during the period	78,067	80,025
Add: Unexercised stock options and unvested restricted stock units	590	674
Number of shares on which diluted earnings per share is calculated	78,657	80,699
Unexercised stock options with an exercise price greater than the average market price and restricted stock units not included in the computation because they were anti-dilutive	666	390