The following table reflects the calculation of basic and diluted earnings per share (in thousands, except per share amounts):

 

		Year Ended June 30,
		2019				201 8				201 7
Earnings per share – basic:
Net income		$	96,072			$	126,150			$	76,086
Income allocated to participating securities			(105	)			(108	)			(65	)
Income available to common shareholders		$	95,967			$	126,042			$	76,021
Weighted-average shares outstanding – basic			37,781				37,476				37,313
Earnings per share – basic		$	2.54			$	3.36			$	2.04
Earnings per share – diluted:
Net income		$	96,072			$	126,150			$	76,086
Income allocated to participating securities			(105	)			(108	)			(65	)
Income available to common shareholders		$	95,967			$	126,042			$	76,021
Weighted-average shares outstanding – basic			37,781				37,476				37,313
Dilutive effect of stock options and restricted stock units			1,111				579				187
Weighted-average common shares outstanding – diluted			38,892				38,055				37,500
Earnings per share – diluted		$	2.47			$	3.31			$	2.03

 

Basic net income per common share is calculated based on the weighted average number of common shares outstanding during the period. Diluted net income per common share is computed by dividing net income by the weighted average number of common and potentially dilutive common shares outstanding during the period. Potentially dilutive common shares of our stock result from dilutive common stock options and restricted stock units. We use the treasury stock method to calculate the weighted-average shares used in the diluted earnings per share computation. Under the treasury stock method, the proceeds from exercise of an option, the amount of compensation cost, if any, for future service that we have yet recognized, and the amount of estimated tax benefits that would be recorded in paid-in capital, if any, when the option is exercised are assumed to be used to repurchase shares in the current period.