Basic earnings per share is computed using the weighted average number of shares outstanding during the period, while diluted earnings per share is calculated to reflect the potential dilution that would occur related to the issuance of capital stock under stock option grants, performance awards and restricted stock units. The difference between basic and diluted earnings per share relates solely to the effect of capital stock options, performance awards and restricted stock units.

The following table provides the computation of diluted shares outstanding for the three and nine months ended March 31, 2026 and 2025:


	Three Months Ended March 31,		Nine Months Ended March 31,
(in thousands)	2026	2025	2026	2025
Weighted-average shares outstanding during the period	76,264	77,037	76,195	77,614
Add: Unexercised stock options and unvested restricted stock units	1,494	614	1,036	594
Number of shares on which diluted earnings per share is calculated	77,758	77,651	77,231	78,208
Unexercised stock options with an exercise price greater than the average market price and restricted stock units not included in the computation because they were anti-dilutive	1	319	14	276