Earnings Per Share

3 Months Ended

Sep. 30, 2021

(9) Earnings Per Share

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 1,322 and 109,475 for the three months ended September 30, 2021 and 2020, 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 ‎September 30,
	2021		2020
Numerator:
Net income	$	203,613	$	178,372
Denominator:
Basic weighted-average common shares outstanding		145,680		144,900
Effect of dilutive securities:
Stock options and restricted stock units		1,180		1,200
Diluted weighted average shares		146,860		146,100
Basic earnings per share	$	1.40	$	1.23
Diluted earnings per share	$	1.39	$	1.22