Annual report pursuant to Section 13 and 15(d)

Net Income Per Share

v3.7.0.1
Net Income Per Share
 12 Months Ended
Jun. 30, 2017
Earnings Per Share [Abstract]  
NET INCOME PER SHARE
NOTE 10 — NET INCOME PER SHARE
Basic net income per share is calculated by dividing net income available to common stockholders by the weighted-average number of common shares outstanding during the period. Diluted net income per share is calculated by using the weighted-average number of common shares outstanding during the period, increased to include the number of additional shares of common stock that would have been outstanding if the shares of common stock underlying the Company’s outstanding dilutive restricted stock units and stock options had been issued. The dilutive effect of outstanding restricted stock units and options is reflected in diluted net income per share by application of the treasury stock method.
The following table sets forth the computation of basic and diluted net income per share:
(In thousands, except per share amounts)
Year ended June 30,
2017
 
2016
 
2015
Numerator:
 
 
 
 
 
Net income
$
926,076

 
$
704,422

 
$
366,158

Denominator:
 
 
 
 
 
Weighted-average shares-basic, excluding unvested restricted stock units
156,468

 
155,869

 
162,282

Effect of dilutive restricted stock units and options (1)
1,013

 
910

 
1,419

Weighted-average shares-diluted
157,481

 
156,779

 
163,701

Basic net income per share
$
5.92

 
$
4.52

 
$
2.26

Diluted net income per share
$
5.88

 
$
4.49

 
$
2.24

Anti-dilutive securities excluded from the computation of diluted net income per share
46

 
9

 
36


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(1) The Company has not had any outstanding stock options since August 2016.