Compensation expense yet to be recognized

[Table of Contents](#i3e760ad3c5f94c5892b7ddc949ade806_7)

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|  | Year Ended June 30, |
| Monte Carlo award inputs: | 2022 |  | 2021 |  | 2020 |
| Compensation Peer Group:1 |  |  |  |  |  |
| Volatility | 28.6  | % |  | 25.2  | % |  | 16.8  | % |
| Risk free interest rate | 0.32  | % |  | 0.11  | % |  | 1.34  | % |
| Annual dividend based on most recent quarterly dividend | $ | 1.84  |  |  | $ | 1.72  |  |  | $ | 1.60  |  |
| Dividend yield | 1.1  | % |  | 1.0  | % |  | 1.1  | % |
| Beginning average percentile rank for TSR | 65  | % |  | 37  | % |  | 63  | % |
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| S&P 1500 IT Index: |  |  |  |  |  |
| Volatility |  |  | 25.2  | % |  | 16.8  | % |
| Risk free interest rate |  |  | 0.11  | % |  | 1.34  | % |
| Annual dividend based on most recent quarterly dividend |  |  | $ | 1.72  |  |  | $ | 1.60  |  |
| Dividend yield |  |  | 1.0  | % |  | 1.1  | % |
| Beginning average percentile rank for TSR |  |  | 30  | % |  | 61  | % |
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1For fiscal 2022, S&P 1500 S&S Index participants were included in the Compensation Peer Group.  
At June 30, 2022, there was $19,076 of compensation expense, excluding forfeitures, that has yet to be recognized related to non-vested restricted stock unit awards, which will be recognized over a weighted-average remaining contractual term of 1.12 years.The fair value of restricted units at vest date totaled $12,139, $21,652, and $11,248 for the fiscal years ended June 30, 2022, 2021, and 2020, respectively.   
NOTE 11.    EARNINGS PER SHAREThe following table reflects the reconciliation between basic and diluted earnings per share.

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|  | Year Ended June 30, |
|   | 2022 |  | 2021 |  | 2020 |
| Net Income | $ | 362,916  |  |  | $ | 311,469  |  |  | $ | 296,668  |  |
| Common share information: |  |  |  |  |  |
| Weighted average shares outstanding for basic earnings per share | 73,324  |  |  | 75,546  |  |  | 76,787  |  |
| Dilutive effect of stock options, restricted stock units, and restricted stock | 162  |  |  | 112  |  |  | 147  |  |
| Weighted average shares outstanding for diluted earnings per share | 73,486  |  |  | 75,658  |  |  | 76,934  |  |
| Basic earnings per share | $ | 4.95  |  |  | $ | 4.12  |  |  | $ | 3.86  |  |
| Diluted earnings per share | $ | 4.94  |  |  | $ | 4.12  |  |  | $ | 3.86  |  |

Per share information is based on the weighted average number of common shares outstanding for each of the fiscal years. Stock options, restricted stock units, and restricted stock have been included in the calculation of earnings per share to the extent they are dilutive. The two-class method for computing EPS has not been applied because no outstanding awards contain non-forfeitable rights to participate in dividends. There were 7 anti-dilutive weighted average shares excluded from the weighted average shares outstanding for diluted earnings per share for fiscal 2022, 11 shares were excluded for fiscal 2021, and 2 shares were excluded for fiscal 2020.   
NOTE 12.    EMPLOYEE BENEFIT PLANSThe Company established an employee stock purchase plan in 2006. The plan allows the majority of employees the opportunity to directly purchase shares of the Company at 85% of the closing price of the Company's stock on or around the fifteenth day of each month. During the fiscal years ended June 30, 2022, 2021 and 2020, employees 56
