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Earnings Per Share | 9 Months Ended
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Mar. 31, 2024
Earnings Per Share [Abstract] |
Earnings Per Share | 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 578,065 and 403,736 for the three months ended March 31, 2024 and 2023, respectively, and 618,664 and 290,639 for the nine months ended March 31, 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 March 31, |  | Nine Months Ended March 31,
| 2024 |  | 2023 |  | 2024 |  | 2023
Numerator: |  |  |  |  |  |  |
Net income | $ | 300,492 |  |  | $ | 232,500 |  |  | $ | 728,715 |  |  | $ | 667,892 |
Denominator: |  |  |  |  |  |  |
Basic weighted-average common shares outstanding | 146,959 |  |  | 146,914 |  |  | 147,056 |  |  | 146,681 |
Effect of dilutive securities: |  |  |  |  |  |  |
Stock options and restricted stock units | 491 |  |  | 481 |  |  | 493 |  |  | 719 |
Diluted weighted average shares | 147,450 |  |  | 147,395 |  |  | 147,549 |  |  | 147,400 |
Basic earnings per share | $ | 2.04 |  |  | $ | 1.58 |  |  | $ | 4.96 |  |  | $ | 4.55 |
Diluted earnings per share | $ | 2.04 |  |  | $ | 1.58 |  |  | $ | 4.94 |  |  | $ | 4.53 |

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//260/tableOfContent Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-2 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-3 + Details
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