XML 55 R30.htm IDEA: XBRL DOCUMENT v3.2.0.727
EARNINGS PER SHARE
12 Months Ended
Jun. 30, 2015
Earnings Per Share [Abstract]  
EARNINGS PER SHARE

NOTE 23. EARNINGS PER SHARE

Earnings per share and the weighted-average number of diluted shares are computed as follows (in thousands, except per share data):

 

 

 

Year ended June 30,

 

 

 

2015

 

 

2014

 

 

2013

 

Net income attributable to CACI

 

$

126,195

 

 

$

135,316

 

 

$

151,689

 

Weighted-average number of basic shares outstanding

   during the period

 

 

23,948

 

 

 

23,429

 

 

 

23,010

 

Dilutive effect of SSARs/stock options and RSUs/restricted

   shares after application of treasury stock method

 

 

384

 

 

 

441

 

 

 

743

 

Dilutive effect of the Convertible Notes

 

 

 

 

 

1,046

 

 

 

132

 

Dilutive effect of the Warrants

 

 

56

 

 

 

239

 

 

 

 

Weighted-average number of diluted shares outstanding

   during the period

 

 

24,388

 

 

 

25,155

 

 

 

23,885

 

Basic earnings per share

 

$

5.27

 

 

$

5.78

 

 

$

6.59

 

Diluted earnings per share

 

$

5.17

 

 

$

5.38

 

 

$

6.35

 

 

 

The total number of weighted-average common stock equivalents excluded from the diluted per share computations due to their anti-dilutive effects for the year ended June 30, 2013 was 17,000. There were no such effects for the years ended June 30, 2015 and June 30, 2014 because the Company’s average stock price exceeded the exercise price of all shares outstanding. The calculation of diluted earnings per share for the year ended June 30, 2015 includes the shares underlying the performance-based RSUs granted in September 2014, September 2013 and September 2011. The shares underlying the performance-based RSUs granted in September 2012 are excluded in the calculation of diluted earnings per share for the years ended June 30, 2015, 2014 and 2013 as the performance metric associated with the shares was not met and no shares were issued under this grant.  On May 1, 2014 the Company issued 1.4 million shares of common stock in accordance with the Convertible Notes and received 1.4 million shares of our common stock pursuant to the terms of the call option hedge transaction. The contingently issuable shares that may have resulted from the conversion of the Convertible Notes were included in the Company’s diluted share count for the fiscal years ended June 30, 2014 and 2013 because the Company’s average stock price during the first, second, and third quarters of the year ended June 30, 2014, and during the first, third and fourth quarters of the year ended June 30, 2013 was above the conversion price of $54.65 per share.  During the year ended June 30, 2015 the Company issued 0.5 million shares of common stock in accordance with the Warrants. Pursuant to the terms of the Warrant transaction, the Warrants settled daily over 90 trading days which began in August 2014 and end in December 2014. The contingently issuable shares that may have resulted from the maturity of the Warrants were included in the computation of diluted earnings per share because the Company’s average stock price during the first and second quarters of the year ended June 30, 2015 and second, third, and fourth quarters of the year ended June 30, 2014 was greater than the Warrants’ exercise price of $68.31. The Warrants were excluded from the computation of the Company’s diluted earnings per share for the year ended June 30, 2013 because the Warrants’ exercise price was greater than the average market price of a share of Company common stock.