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Earnings per share
9 Months Ended
Mar. 31, 2019
Earnings Per Share [Abstract]  
Earnings per share
Earnings per share
The following table presents a reconciliation of the numerator and denominator of basic and diluted earnings per share for the three and nine months ended March 31, 2019 and 2018.
 
Three Months Ended
 
Nine Months Ended
 
March 31,
 
March 31,
 
2019
 
2018
 
2019
 
2018
Numerator:
 
 
 
 
 
 
 
Net income attributable to common shareholders
$
411,248

 
$
365,989

 
$
1,098,696

 
$
707,545

Denominator:
 
 
 
 
 
 
 
Basic - weighted average common shares
128,706,137

 
133,032,431

 
130,476,355

 
133,107,321

Increase in weighted average common shares from dilutive effect of equity-based awards
2,178,831

 
2,735,849

 
2,022,021

 
2,554,064

Diluted - weighted average common shares, assuming exercise of equity-based awards
130,884,968

 
135,768,280

 
132,498,376

 
135,661,385

Basic earnings per share
$
3.20

 
$
2.75

 
$
8.42

 
$
5.32

Diluted earnings per share
$
3.14

 
$
2.70

 
$
8.29

 
$
5.22


For the three months ended March 31, 2019 and 2018, 833,239 and 197,560 common shares subject to equity-based awards, respectively, were excluded from the computation of diluted earnings per share because the effect of their exercise would be anti-dilutive. For the nine months ended March 31, 2019 and 2018, 925,721 and 471,008 common shares subject to equity-based awards, respectively, were excluded from the computation of diluted earnings per share because the effect of their exercise would be anti-dilutive.