Quarterly report pursuant to Section 13 or 15(d)

Net Income Per Share

v3.7.0.1
Net Income Per Share
 9 Months Ended
Mar. 31, 2017
Earnings Per Share [Abstract]  
NET INCOME PER SHARE
NOTE 9 – 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)
Three months ended
March 31,
 
Nine months ended
March 31,
2017
 
2016
 
2017
 
2016
Numerator:
 
 
 
 
 
 
 
Net income
$
253,562

 
$
175,777

 
$
669,914

 
$
432,881

Denominator:
 
 
 
 
 
 
 
Weighted-average shares-basic, excluding unvested restricted stock units
156,749

 
155,690

 
156,402

 
155,921

Effect of dilutive restricted stock units and options(1)
997

 
739

 
895

 
876

Weighted-average shares-diluted
157,746

 
156,429

 
157,297

 
156,797

Basic net income per share
$
1.62

 
$
1.13

 
$
4.28

 
$
2.78

Diluted net income per share
$
1.61

 
$
1.12

 
$
4.26

 
$
2.76

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

 
—

 
6

 
137


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