Annual report pursuant to Section 13 and 15(d)

Net Income Per Share

v3.10.0.1
Net Income Per Share
 12 Months Ended
Jun. 30, 2018
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,
2018
 
2017
 
2016
Numerator:
 
 
 
 
 
Net income
$
802,265

 
$
926,076

 
$
704,422

Denominator:
 
 
 
 
 
Weighted-average shares-basic, excluding unvested restricted stock units
156,346

 
156,468

 
155,869

Effect of dilutive restricted stock units and options (1)
1,032

 
1,013

 
910

Weighted-average shares-diluted
157,378

 
157,481

 
156,779

Basic net income per share
$
5.13

 
$
5.92

 
$
4.52

Diluted net income per share
$
5.10

 
$
5.88

 
$
4.49

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

 
46

 
9


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