Earnings Per Share

3 Months Ended

Sep. 30, 2011

5. Earnings Per Share

A reconciliation of the basic average common shares outstanding to diluted average common shares outstanding is as follows (in thousands):


	Three Months Ended
	September 30,
	2011		2010
Net income	$	80,517	$	75,104

Basic weighted average common shares outstanding		175,466		174,370
Effect of dilutive stock options		1,119		786

Diluted weighted average common shares outstanding		176,585		175,156


Earnings per share:
Basic	$	0.46	$	0.43
Diluted	$	0.46	$	0.43

Excluded from the computations above were anti-dilutive shares of 5.6 million and 6.1 million for the three months ended September 30, 2011 and 2010, respectively.