EQUITY AND EARNINGS PER SHARE

We have authorized five million shares of preferred stock at $0.01 par value. As of March 31, 2013 and June 30, 2012, we had no shares of preferred stock issued and outstanding.

As of March 31, 2013 and June 30, 2012, we had authorized 150 million and 75 million shares of common stock, with a $0.01 par value, respectively. As of March 31, 2013 and June 30, 2012, we had 57,078,056 and 60,147,007 shares of common stock issued and outstanding, respectively.

In December 2012, we increased the maximum number of shares available for awards under our 2010 Stock Incentive Plan from two million to five million shares.

We compute basic earnings per share by dividing net income for the period by the weighted average number of common shares outstanding during the period. We compute diluted earnings per share by dividing net income by the weighted average number of common shares plus the dilutive effect of outstanding stock options and restricted stock awards/units. The following table outlines the basic and diluted earnings per common share computations:



(in thousands, except per share data)	Three Months Ended				Nine Months Ended
	March 31, 2013		March 31, 2012		March 31, 2013		March 31, 2012
Net income attributable to common stock	$	29,524	$	22,869	$	65,931	$	45,370
Weighted average number of shares outstanding, used in computing basic earnings per share	58,024		59,652		58,942		59,319
Dilutive common stock equivalents	1,050		842		1,063		953
Weighted average number of shares outstanding used in computing diluted earnings per share	59,074		60,494		60,005		60,272
Basic earnings per share	$0.51		$0.38		$1.12		$0.76
Diluted earnings per share	$0.50		$0.38		$1.10		$0.75
Anti-dilutive equity instruments (excluded from the calculation of diluted earnings per share)	717		1,869		396		2,209

Share Repurchase Plan

In August 2012, our Board of Directors approved a share repurchase program (the "Program") authorizing the repurchase of up to $200 million of our common stock to be financed with cash on hand, cash generated from operations, existing credit facilities, or new financing. The Program does not obligate us to acquire any particular dollar value or number of shares of common stock, and it can be modified, extended, suspended or discontinued at any time. There is no set expiration date for the Program.

In September 2012, as part of the Program, we entered into an accelerated share repurchase agreement (the “September Agreement”) to purchase shares of our common stock from J.P. Morgan Securities LLC, as agent for JPMorgan Chase Bank, National Association, London Branch (“JPMorgan”), for an aggregate purchase price of $50 million . Pursuant to the September Agreement, during the three months ended March 31, 2013, we finalized the settlement of our first $50 million accelerated share repurchase program and received an additional 234,898 shares representing the final shares delivered by JPMorgan. These shares are in addition to the initial 1,328,462 shares of our common stock delivered to us on September 20, 2012.

On March 15, 2013, we entered into a second accelerated share repurchase agreement (the “March Agreement”) to purchase shares of our common stock from JPMorgan for an aggregate purchase price of $50 million. Pursuant to the March Agreement, on March 15, 2013, we paid an additional $50 million to JPMorgan and received from JPMorgan 1,044,932 shares of our common stock, representing an estimated 80 percent of the shares to be repurchased by us under the Agreement based on a price of $38.28 per share, which was the closing price of our common stock on March 15, 2013. These repurchased shares have been canceled and restored to the status of authorized and unissued shares. At the March Agreement maturity, approximately four months after the date we authorized the second accelerated share repurchase program, the final number of shares to be delivered to us by JPMorgan, net of the initial shares delivered, will be adjusted based on an agreed upon discount to the average of the daily volume weighted average price of the common stock during the term of the March Agreement. If the number of shares to be delivered to us at maturity is less than the initial delivery of shares by JPMorgan, we would be required to remit shares or cash, at our option, to JPMorgan in an amount equivalent to such shortfall. If the number of shares to be delivered to us at maturity is greater than the initial delivery of shares by JPMorgan, JPMorgan would be required to remit shares to us in an amount equivalent to such difference. We recorded the $50 million payment to JPMorgan as a decrease to equity in our consolidated balance sheet, consisting of decreases in common stock and additional paid-in capital.

In addition, during the nine months ended March 31, 2013, we purchased 1,645,604 shares of our common stock in the open market under the Program at an average price of $31.16 per share. As of March 31, 2013, approximately $48.7 million remained available under the Program for the purchase of additional shares.