| Earnings Per Share |
Note 9. Earnings Per Share:
The following table reflects the calculation of basic and diluted earnings per share (in thousands, except per share amounts):
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Quarter Ended |
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Nine Months Ended |
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March 31, |
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March 31, |
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2025 |
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2024 |
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2025 |
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2024 |
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Earnings per share – basic: |
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Net earnings |
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$ |
22,588 |
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$ |
49,059 |
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$ |
91,078 |
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$ |
127,517 |
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Income allocated to participating securities |
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(3) |
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(5) |
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(14) |
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(24) |
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Income available to common shareholders |
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$ |
22,585 |
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$ |
49,054 |
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$ |
91,064 |
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$ |
127,493 |
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Weighted-average shares outstanding – basic |
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|
157,372 |
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|
157,309 |
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|
158,117 |
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|
157,655 |
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Earnings per share – basic |
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$ |
0.14 |
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$ |
0.31 |
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$ |
0.58 |
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$ |
0.81 |
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Earnings per share – diluted: |
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Net earnings |
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$ |
22,588 |
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$ |
49,059 |
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$ |
91,078 |
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$ |
127,517 |
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Income allocated to participating securities |
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|
(3) |
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|
(5) |
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|
(14) |
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|
(24) |
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Income available to common shareholders |
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$ |
22,585 |
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$ |
49,054 |
|
$ |
91,064 |
|
$ |
127,493 |
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Weighted-average shares outstanding – basic |
|
|
157,372 |
|
|
157,309 |
|
|
158,117 |
|
|
157,655 |
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Dilutive effect of stock options and restricted stock units |
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|
1,572 |
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|
3,187 |
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|
2,545 |
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|
3,162 |
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Weighted-average common shares outstanding – diluted |
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|
158,944 |
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|
160,496 |
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|
160,662 |
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|
160,817 |
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Earnings per share – diluted |
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$ |
0.14 |
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$ |
0.31 |
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$ |
0.57 |
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$ |
0.79 |
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The dilutive effect of stock options and restricted stock units in the above table excludes all options for which the aggregate exercise proceeds exceeded the average market price for the period. The number of potentially dilutive option shares excluded from the calculation was 5.5 million and 4.0 million for the quarter ended March 31, 2025 and 2024, respectively, and 3.7 million and 4.0 million for the nine months ended March 31, 2025 and 2024, respectively.
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