Annual report pursuant to Section 13 and 15(d)

Net Income Per Share

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Net Income Per Share
 12 Months Ended
Jun. 30, 2015
Earnings Per Share [Abstract]  
Net Income Per Share
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 stock options and restricted stock units had been issued. The dilutive effect of outstanding options and restricted stock units is reflected in diluted net income per share by application of the treasury stock method. Under the treasury stock method, the amount the employee must pay for exercising stock options, the amount of compensation cost for future service that the Company has not yet recognized, and the amount of tax benefits that is to be recorded in additional paid-in capital when the award becomes deductible are assumed to be used to repurchase shares.
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,
2015
 
2014
 
2013
Numerator:
 
 
 
 
 
Net income
$
366,158

 
$
582,755

 
$
543,149

Denominator:
 
 
 
 
 
Weighted-average shares-basic, excluding unvested restricted stock units
162,282

 
166,016

 
166,089

Effect of dilutive options and restricted stock units
1,419

 
2,102

 
3,171

Weighted-average shares-diluted
163,701

 
168,118

 
169,260

Basic net income per share
$
2.26

 
$
3.51

 
$
3.27

Diluted net income per share
$
2.24

 
$
3.47

 
$
3.21

Anti-dilutive securities excluded from the computation of diluted net income per share
36

 
—

 
1,366