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EARNINGS PER SHARE AND STOCKHOLDERS' EQUITY
 9 Months Ended
Mar. 31, 2025
Earnings Per Share [Abstract]  
EARNINGS PER SHARE AND STOCKHOLDERS' EQUITY
NOTE 3: EARNINGS PER SHARE AND STOCKHOLDERS' EQUITY
EARNINGS PER SHARE – Basic and diluted earnings (loss) per share is computed using the two-class method. The two-class method is an earnings allocation formula that determines net income per share for each class of common stock and participating security according to dividends declared and participation rights in undistributed earnings. Per share amounts are computed by dividing net income (loss) from continuing operations attributable to common shareholders by the weighted average shares outstanding during each period. Diluted earnings per share excludes the impact of shares of common stock issuable upon the lapse of certain restrictions or the exercise of options to purchase 0.6 million and 0.5 million shares for the three and nine months ended March 31, 2025,
respectively, and one thousand and 0.2 million shares for the three and nine months ended March 31, 2024, respectively, as the effect would be antidilutive.
The computations of basic and diluted earnings per share from continuing operations are as follows:
(in 000s, except per share amounts)
Three months ended March 31,Nine months ended March 31,
2025202420252024
Net income from continuing operations attributable to shareholders$722,928 $691,586 $309,041 $339,597 
Amounts allocated to participating securities(3,442)(2,788)(1,408)(1,350)
Net income from continuing operations attributable to common shareholders$719,486 $688,798 $307,633 $338,247 
Basic weighted average common shares133,853 139,525 136,207 142,724 
Potential dilutive shares1,476 2,015 1,737 1,870 
Dilutive weighted average common shares135,329 141,540 137,944 144,594 
Earnings per share from continuing operations attributable to common shareholders:
Basic$5.38 $4.94 $2.26 $2.37 
Diluted5.32 4.87 2.23 2.34 
The decrease in the weighted average shares outstanding is due to share repurchases completed in the current and prior fiscal years.
STOCK-BASED COMPENSATION – We granted 1.1 million and 1.7 million shares, including adjustments for performance achievement and dividend equivalents, under our stock-based compensation plans during the nine months ended March 31, 2025 and 2024, respectively. Stock-based compensation expense of our continuing operations totaled $7.5 million and $25.4 million for the three and nine months ended March 31, 2025, respectively, and $7.8 million and $25.3 million for the three and nine months ended March 31, 2024, respectively. As of March 31, 2025, unrecognized compensation cost for nonvested shares and units totaled $50.8 million.