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Net Income Per Share
 3 Months Ended
Sep. 30, 2016
Earnings Per Share [Abstract]  
Net Income Per Share

3. Net Income Per Share

The computation of basic and diluted net income per share was as follows (in millions, except per share data):

 

 

 

Three Months Ended

 

 

 

 

September 30,

 

 

 

 

2016

 

 

2015

 

 

Numerator:

 

 

 

 

 

 

 

 

 

Net income

 

$

3.7

 

 

$

23.8

 

 

Denominator:

 

 

 

 

 

 

 

 

 

Shares, basic

 

 

34.8

 

 

 

36.8

 

 

Effect of dilutive share-based awards

 

 

0.8

 

 

 

1.4

 

 

Shares, diluted

 

 

35.6

 

 

 

38.2

 

 

Net income per share:

 

 

 

 

 

 

 

 

 

Basic

 

$

0.11

 

 

$

0.65

 

 

Diluted

 

$

0.10

 

 

$

0.62

 

 

Our basic net income per share amounts for each period presented have been computed using the weighted average number of shares of common stock outstanding over the period measured. Our diluted net income per share amounts for each period presented include the weighted average effect of potentially dilutive shares. We use the “treasury stock” method to determine the dilutive effect of our stock options, deferred stock units, or DSUs, and market stock units, or MSUs.

Dilutive net income per share amounts do not include the potential weighted average effect of 1,402,302 and 535,708 shares of common stock related to certain share-based awards that were outstanding during the three months ended September 30, 2016 and 2015, respectively. These share-based awards were not included in the computation of diluted net income per share because their effect would have been antidilutive.