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Net Earnings Per Share | 3 Months Ended
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Sep. 30, 2020
Earnings Per Share [Abstract] |
Net Earnings Per Share | Net Earnings Per Share Basic net income per share of Class A Common Stock is computed by dividing net income attributable to the Company's earnings by the weighted average number of shares of Class A Common Stock outstanding during the period. The weighted average number of shares of Class A Common Stock outstanding used in computing basic net income per share includes fully vested restricted stock units awarded to directors that are entitled to participate in distributions to common shareholders through receipt of additional units of equivalent value to the dividends paid to Class A Common Stock holders. Diluted net income per share of Class A Common Stock is computed similarly to basic net income per share except the weighted average shares outstanding are increased to include additional shares from the assumed exercise of any common stock equivalents using the treasury method, if dilutive. The Company’s LLC Units and non-qualified stock options are considered common stock equivalents for this purpose. The number of additional shares of Class A Common Stock related to these common stock equivalents and stock options are calculated using the treasury stock method. Stock awards with a performance condition that are based on the attainment of a specified amount of earnings are only included in the computation of diluted earnings per share to the extent that the performance condition would be achieved based on the current amount of earnings, and only if the effect would be dilutive. Stock awards with a market condition that are based on the performance of the Company's stock price in relation to a market index over a specified time period are only included in the computation of diluted earnings per share to the extent that the shares would be issued based on the current market price of the Company's stock in relation to the market index, and only if the effect would be dilutive. Basic and diluted net income per share of Class A Common Stock has been computed as follows (in thousands, except share and per share amounts):
| Three Months Ended September 30, |  |
| 2020 |  | 2019 |  |  |  |
Basic: |  |  |  |  |  |  |
Net income attributable to Malibu Boats, Inc. | $ | 21,093 |  |  | $ | 15,859 |  |  |  |  |
Shares used in computing basic net income per share: |  |  |  |  |  |  |
Weighted-average Class A Common Stock | 20,435,866 |  |  | 20,635,978 |  |  |  |  |
Weighted-average participating restricted stock units convertible into Class A Common Stock | 216,063 |  |  | 194,143 |  |  |  |  |
Basic weighted-average shares outstanding | 20,651,929 |  |  | 20,830,121 |  |  |  |  |
Basic net income per share | $ | 1.02 |  |  | $ | 0.76 |  |  |  |  |
Diluted: |  |  |  |  |  |  |
Net income attributable to Malibu Boats, Inc. | $ | 21,093 |  |  | $ | 15,859 |  |  |  |  |
Shares used in computing diluted net income per share: |  |  |  |  |  |  |
Basic weighted-average shares outstanding | 20,651,929 |  |  | 20,830,121 |  |  |  |  |
Restricted stock units granted to employees | 133,213 |  |  | 98,620 |  |  |  |  |
Stock options granted to employees | 36,928 |  |  | — |  |  |  |  |
Market performance awards granted to employees | 42,576 |  |  | — |  |  |  |  |
Diluted weighted-average shares outstanding 1 | 20,864,646 |  |  | 20,928,741 |  |  |  |  |
Diluted net income per share | $ | 1.01 |  |  | $ | 0.76 |  |  |  |  |
1 The Company excluded 776,592 and 1,102,975 potentially dilutive shares from the calculation of diluted net income per share for the three months ended September 30, 2020 and 2019, respectively, as these units would have been antidilutive. The shares of Class B Common Stock do not share in the earnings or losses of Malibu Boats, Inc. and, therefore, not included in the calculation. Accordingly, basic and diluted net earnings per share of Class B Common Stock has not been presented.

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=109243012&loc=SL65017193-207537 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3630-109257 + Details
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