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Basis of Presentation (Tables)
6 Months Ended
Dec. 31, 2014
Basis of Presentation  
Schedule of computation of basic and diluted earnings per share

 

The following table sets forth the computation of basic and diluted earnings per share (in thousands, except per share amounts):

 

 

 

Three Months Ended
December 31,

 

Six Months Ended
December 31,

 

 

 

2013

 

2014

 

2013

 

2014

 

Net income for diluted earnings per share calculation 

 

$

14,573 

 

$

18,241 

 

$

20,967 

 

$

29,490 

 

 

 

 

 

 

 

 

 

 

 

Weighted average shares outstanding for basic earnings per share calculation

 

19,961 

 

19,811 

 

19,966 

 

19,815 

 

Dilutive effect of stock awards

 

628 

 

676 

 

638 

 

691 

 

Weighted average shares outstanding for diluted earnings per share calculation

 

20,589 

 

20,487 

 

20,604 

 

20,506 

 

 

 

 

 

 

 

 

 

 

 

Basic net income per share

 

$

0.73 

 

$

0.92 

 

$

1.05 

 

$

1.49 

 

Diluted net income per share

 

$

0.71 

 

$

0.89 

 

$

1.02 

 

$

1.44 

 

 

Summary of the investments carried at fair value

 

The following is a summary of the inputs used in valuing investments carried at fair value (in thousands):

 

 

 

Level 1

 

Level 2

 

June 30,
2014

 

Level 1

 

Level 2

 

December 31,
2014

 

Equity securities

 

414 

 

500 

 

914 

 

326 

 

1,600 

 

1,926 

 

Insurance company contracts

 

 

17,383 

 

17,383 

 

 

18,176 

 

18,176 

 

Interest rate contract

 

 

28 

 

28 

 

 

36 

 

36 

 

Total

 

$

414 

 

$

17,911 

 

$

18,325 

 

$

326 

 

$

19,812 

 

$

20,138