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Earnings Per Share | 12 Months Ended
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Jun. 30, 2024
Earnings Per Share [Abstract] |
Earnings Per Share | 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 603,859, 272,104 and 67,000 for the years ended June 30, 2024, 2023 and 2022, respectively, as the effect would have been anti-dilutive. Basic and diluted earnings per share for the years ended June 30, 2024, 2023 and 2022 are calculated as follows (in thousands except per share data):
| 2024 |  | 2023 |  | 2022
Numerator: |  |  |  |  |
Net income | $ | 1,020,951 |  |  | $ | 897,556 |  |  | $ | 779,437 |
Denominator: |  |  |  |  |
Basic weighted-average common shares outstanding | 147,021 |  |  | 146,765 |  |  | 146,066 |
Effect of dilutive securities: |  |  |  |  |
Stock options and restricted stock units | 529 |  |  | 690 |  |  | 977 |
Diluted weighted average shares | 147,550 |  |  | 147,455 |  |  | 147,043 |
Basic earnings per share | $ | 6.94 |  |  | $ | 6.12 |  |  | $ | 5.34 |
Diluted earnings per share | $ | 6.92 |  |  | $ | 6.09 |  |  | $ | 5.30 |

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