Earnings Per Share

9 Months Ended

Mar. 31, 2016

EARNINGS PER SHARE

The following table sets forth the computation of basic and diluted earnings per share:



	Three Months Ended March 31,				Nine Months Ended March 31,
	2016		2015		2016		2015
Numerator:
Net income	$	48,985	$	33,394	$	137,234	$	96,824

Denominator for basic earnings per share - weighted average shares outstanding during the period (in thousands)	103,265		102,252		103,030		101,401
Effect of dilutive stock options, unvested restricted stock and unvested restricted share units (in thousands)	822		1,544		1,138		1,825
Denominator for diluted earnings per share - adjusted weighted average shares and assumed conversions (in thousands)	104,087		103,796		104,168		103,226

Basic earnings per share	$	0.47	$	0.33	$	1.33	$	0.95
Diluted earnings per share	$	0.47	$	0.32	$	1.32	$	0.94

Note: The sum of our quarterly net income per share amounts may not equal the year-to-date amounts,as presented, due to rounding.

Basic earnings per share excludes the dilutive effects of stock options, unvested restricted stock and unvested restricted share units. Diluted earnings per share includes the dilutive effects of common stock equivalents such as stock options and unvested restricted stock awards.

Restricted stock awards totaling 195,244 were excluded from our diluted earnings per share calculations for the three and nine months ended March 31, 2016 as such awards were antidilutive. There were 107,460 awards excluded from our diluted earnings per share calculations for the three and nine months ended March 31, 2015 as such awards were contingently issuable based on market or performance conditions and such conditions had not been achieved during the respective periods.