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Net Income Per Share
9 Months Ended
Jun. 30, 2024
Net Income Per Share [Abstract]  
Net Income Per Share Net Income Per Share
Basic net income per share is computed by dividing net income by the weighted average number of common shares outstanding during the period. Diluted net income per share is computed by dividing net income by the weighted average number of common and dilutive common stock equivalent shares outstanding during the period. The Company's nonvested restricted stock units do not have nonforfeitable rights to dividends or dividend equivalents and are not considered participating securities that should be included in the computation of earnings per share under the two-class method.
The following table sets forth the computation of basic and diluted net income per share (in thousands, except per share data):
 Three months ended
June 30,
Nine months ended
June 30,
 2024202320242023
Numerator
Net income$144,079 $88,976 $401,482 $242,814 
Denominator
Weighted average shares outstanding — basic58,584 59,977 58,832 60,133 
Dilutive effect of common shares from stock options and restricted stock units
563 337 629 330 
Weighted average shares outstanding — diluted59,147 60,314 59,461 60,463 
Basic net income per share$2.46 $1.48 $6.82 $4.04 
Diluted net income per share$2.44 $1.48 $6.75 $4.02 
Anti-dilutive stock-based awards excluded from the calculations of diluted earnings per share were not material for the three and nine months ended June 30, 2024 and 2023.