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Earnings Per Share (Tables) | 12 Months Ended
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Jun. 30, 2023
Earnings Per Share [Abstract] |
Computation of Earnings Per Share | The following is a reconciliation of the numerators and denominators of the basic and diluted earnings (loss) per share computations for the periods presented ($000):
Year Ended June 30, |  | 2023 |  | 2022 |  | 2021
($000 except per share) |  |  |  |  |  |
Numerator |  |  |  |  |  |
Net earnings (loss) |  | $ | (259,458) |  |  | $ | 234,759 |  |  | $ | 297,552 |
Deduct Series A preferred stock dividends |  | (27,600) |  |  | (27,600) |  |  | (27,140) |
Deduct Series B dividends and deemed dividends |  | (116,612) |  |  | (40,625) |  |  | (10,091) |
Basic earnings (loss) available to common shareholders |  | $ | (403,670) |  |  | $ | 166,534 |  |  | $ | 260,321 |
Effect of dilutive securities: |  |  |  |  |  |
Add back interest on Convertible Notes (net of tax) |  | $ | — |  |  | $ | 2,229 |  |  | $ | 12,264 |
Diluted earnings (loss) available to common shareholders |  | $ | (403,670) |  |  | $ | 168,763 |  |  | $ | 272,585 |
Denominator |  |  |  |  |  |
Weighted average shares |  | 137,578 |  |  | 106,189 |  |  | 104,151 |
Effect of dilutive securities |  |  |  |  |  |
Common stock equivalents |  | — |  |  | 3,012 |  |  | 3,552 |
Convertible Notes |  | — |  |  | 7,312 |  |  | 7,331 |
Diluted weighted average common shares |  | 137,578 |  |  | 116,513 |  |  | 115,034 |
Basic earnings (loss) per common share |  | $ | (2.93) |  |  | $ | 1.57 |  |  | $ | 2.50 |
Diluted earnings (loss) per common share |  | $ | (2.93) |  |  | $ | 1.45 |  |  | $ | 2.37 |
Schedule of Potential Shares of Common Stock Excluded from the Calculation of Diluted Net Income Per Share | The following table presents potential shares of common stock excluded from the calculation of diluted net earnings (loss) per share, as their effect would have been antidilutive (in thousands of shares):
Year Ended June 30, |  | 2023 |  | 2022 |  | 2021
Series A Mandatory Convertible Preferred Stock |  | 10,423 |  |  | 8,915 |  |  | 8,915 |
Series B Convertible Preferred Stock |  | 26,349 |  |  | 9,162 |  |  | 2,230 |
Common stock equivalents |  | 2,271 |  |  | 9,611 |  |  | 118 |
Total anti-dilutive shares |  | 39,043 |  |  | 27,688 |  |  | 11,263 |

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- Definition Tabular disclosure of securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) in the future that were not included in the computation of diluted EPS because to do so would increase EPS amounts or decrease loss per share amounts for the period presented, by antidilutive securities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-1 + Details
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- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-1 + Details
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