Earnings Per Share

3 Months Ended

Sep. 30, 2024

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 159,055 and 417,364 for the three months ended September 30, 2024 and 2023, 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,
	2024		2023
Numerator:
Net income	$	311,355	$	219,422
Denominator:
Basic weighted-average common shares outstanding	146,861		147,075
Effect of dilutive securities:
Stock options and restricted stock units	738		411
Diluted weighted average shares	147,599		147,486
Basic earnings per share	$	2.12	$	1.49
Diluted earnings per share	$	2.11	$	1.49