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Preferred and Common Stockholder's Equity | 6 Months Ended
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Dec. 31, 2019
Equity [Abstract] |
Preferred and Common Stockholder's Equity |
(10) | PREFERRED AND COMMON STOCKHOLDER’S EQUITY
The Company is authorized to issue up to 5.0 shares of preferred stock, par value $0.01 per share. There were no preferred shares outstanding at December 31, 2019. The Company is authorized to issue up to 150.0 shares of common stock, par value $0.01 per share. There were 74.5 shares issued and outstanding at December 31, 2019. Common shares issued and outstanding
|  | Six months ended |  |  | Year ended |
|  | December 31, |  |  | June 30, |
|  | 2019 |  |  | 2019 |
Beginning common stock issued and outstanding |  |  | 73.5 |  |  |  | 70.6 |
Common stock issued upon exercise of options and employee stock plans |  |  | 1.0 |  |  |  | 4.5 |
Repurchase and retirement of common stock |  |  | — |  |  |  | (1.6 | )
Common stock issued and outstanding at end of period |  |  | 74.5 |  |  |  | 73.5 |
Basic earnings per share is computed based on the weighted-average number of shares of common stock outstanding. Diluted earnings per share is computed based on the weighted-average number of shares of common stock, including the dilutive effect of common stock equivalents, outstanding. In periods when the Company has a net loss, stock awards are excluded from the calculation of diluted net loss per share as their inclusion would have an antidilutive effect. The following is a reconciliation of the denominators of the basic and diluted earnings per share (“EPS”) computations:
|  | Three months ended |  |  | Six months ended |
|  | December 31, |  |  | December 31, |
|  | 2019 |  |  | 2018 |  |  | 2019 |  |  | 2018 |
Denominator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Weighted-average shares outstanding used to compute basic EPS |  |  | 74.4 |  |  |  | 74.2 |  |  |  | 74.1 |  |  |  | 73.6 |
Effect of dilutive shares |  |  | — |  |  |  | 2.3 |  |  |  | — |  |  |  | 3.3 |
Weighted-average shares outstanding and dilutive securities used to compute diluted EPS |  |  | 74.4 |  |  |  | 76.5 |  |  |  | 74.1 |  |  |  | 76.9 |
Certain outstanding options and restricted stock units (“RSUs”) were excluded from the computation of diluted earnings per share because the effect would have been anti-dilutive. These potential dilutive common shares, which may be dilutive to future diluted earnings per share, are as follows:
|  | Three months ended |  |  | Six months ended |
|  | December 31, |  |  | December 31, |
|  | 2019 |  |  | 2018 |  |  | 2019 |  |  | 2018 |
Anti-dilutive options and RSU's excluded from EPS computation |  |  | 0.9 |  |  |  | 1.1 |  |  |  | 1.3 |  |  |  | 0.6 |
Stock Repurchase Program In June 2016, the Company’s Board of Directors authorized an eighth share repurchase program of $200.0 of the Company’s outstanding common stock. The Company plans to repurchase its common stock from time to time or on an accelerated basis through open market transactions or privately negotiated transactions as determined by the Company’s management. The amount and timing of stock repurchases under the program will depend on business and market conditions, stock price, trading restrictions, acquisition activity and other factors. As of December 31, 2019, the Company has $110.7 remaining on its current share repurchase authorization. The Company uses the par value method of accounting for its stock repurchases. As a result of the stock repurchases, the Company reduced common stock and additional paid-in capital and recorded charges to accumulated deficit. The shares retired, aggregate common stock and additional paid-in capital reductions, and related charges to accumulated deficit for the repurchases for three and six months ended December 31, 2019 and 2018 were as follows:
|  | Three months ended |  |  | Six months ended |
|  | December 31, |  |  | December 31, |
|  | 2019 |  |  | 2018 |  |  | 2019 |  |  | 2018 |
Shares purchased and retired |  |  | — |  |  |  | 1.6 |  |  |  | — |  |  |  | 1.6 |
Common stock and additional paid-in-capital reductions |  | $ | — |  |  | $ | 16.9 |  |  | $ | — |  |  | $ | 16.9 |
Charges to retained earnings |  | $ | — |  |  | $ | 33.1 |  |  | $ | — |  |  | $ | 33.1 |

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- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 + Details
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