Annual report pursuant to Section 13 and 15(d)

Net Income Per Share

v2.4.0.6
Net Income Per Share
 12 Months Ended
Jun. 30, 2012
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,
2012
 
2011
 
2010
Numerator:
 
 
 
 
 
Net income
$
756,015

 
$
794,488

 
$
212,300

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

166,795

 
167,261

 
170,652

Effect of dilutive options and restricted stock units
3,352

 
3,091

 
2,382

Weighted-average shares-diluted
170,147

 
170,352

 
173,034

Basic net income per share
$
4.53

 
$
4.75

 
$
1.24

Diluted net income per share
$
4.44

 
$
4.66

 
$
1.23

Anti-dilutive securities excluded from the computation of diluted net income per share
3,123

 
8,003

 
11,109


The total amount of dividends paid during the fiscal years ended June 30, 2012, 2011 and 2010 was $233.6 million, $167.4 million and $102.4 million, respectively. The increase in the amount of dividends paid during the fiscal year ended June 30, 2012 reflects an increase during the first quarter of that year to the level of the Company's quarterly dividend from $0.25 to $0.35 per share.
As discussed in Note 19, “Subsequent Events,” on July 10, 2012, the Company announced that its Board of Directors had authorized a further increase in the level of the Company's quarterly dividend from $0.35 to $0.40 per share. Accordingly, on August 2, 2012, the Company declared a quarterly cash dividend of $0.40 per share on the outstanding shares of the Company’s common stock, to be paid on September 4, 2012 to stockholders of record on August 13, 2012.