Earnings Per Share

12 Months Ended

Jun. 30, 2014

Earnings Per Share [Abstract]

Earnings Per Share

(4)          Earnings Per Share

We compute basic earnings per share 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 273,000,  236,000 and 1,336,000 for the years ended June 30, 2014, 2013 and 2012,  respectively, as the effect would have been anti-dilutive.

Basic and diluted earnings per share for the years ended June 30, 2014, 2013 and 2012 are calculated as follows (in thousands except per share data):

	2014		2013		2012
Numerator:
Net Income, used in calculating diluted earnings per share	$	345,273	$	307,133	$	254,850
Denominator:
Basic weighted-average common shares outstanding		141,474		142,954		145,901
Effect of dilutive securities:
Stock options and restricted stock units		2,885		3,456		3,415
Diluted weighted average shares		144,359		146,410		149,316
Basic earnings per share	$	2.44	$	2.15	$	1.75
Diluted earnings per share	$	2.39	$	2.10	$	1.71