| Reconciliation of Shares Used in Calculating Basic and Diluted Earnings per Common Shares |
A reconciliation of shares used in calculating basic and diluted earnings per common share is presented below (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year Ended June 30, |
|
|
|
2025 |
|
|
2024 |
|
|
2023 |
|
Basic weighted-average shares of common stock outstanding |
|
|
23,626 |
|
|
|
23,092 |
|
|
|
23,400 |
|
Effect of common stock equivalents |
|
|
816 |
|
|
|
1,029 |
|
|
|
1,249 |
|
Diluted weighted-average shares outstanding |
|
|
24,442 |
|
|
|
24,121 |
|
|
|
24,649 |
|
|
| Reconciliation of Changes in Noncontrolling Interests |
The table below presents the reconciliation of changes in noncontrolling interests (in thousands):
|
|
|
|
|
|
|
|
|
|
|
Balance as of June 30, 2022 |
|
$ |
1,862 |
|
(1) |
Net income attributable to noncontrolling interest |
|
|
409 |
|
|
Distributions paid to noncontrolling interest |
|
|
(1,001 |
) |
|
Balance as of June 30, 2023 |
|
|
1,270 |
|
(1) |
Net income attributable to noncontrolling interests |
|
|
487 |
|
|
Noncontrolling ownership interest contribution - AM/LPM Ventures, LLC |
|
|
2,051 |
|
(2) |
Noncontrolling ownership interests - SGB |
|
|
50,652 |
|
(3) |
Change in ownership of consolidated subsidiary |
|
|
(237 |
) |
|
Balance as of June 30, 2024 |
|
|
54,223 |
|
(4) |
Net income attributable to noncontrolling interests |
|
|
(1,476 |
) |
|
Noncontrolling ownership interests - SGI |
|
|
408 |
|
(5) |
Balance as of June 30, 2025 |
|
$ |
53,155 |
|
(6) |
________________________________
|
|
(1) |
Balance represents the noncontrolling interests associated with the PMPP joint venture. |
(2) |
In February 2024, Aquila Holding LLC purchased a 5% interest in AM/LPM Ventures, LLC for $2.1 million. |
|
(3)
(4)
(5)
|
In June 2024, the Company obtained a controlling interest in SGB.
Balance represents the noncontrolling interests of PMPP, AM/LPM Ventures, LLC, and SGB.
In February 2025, in connection with its acquisition of SGI, the Company acquired certain minority investments.
|
(6) |
Balance represents the noncontrolling interests of PMPP, AM/LPM Ventures, LLC, SGB, and certain investments acquired through our acquisition of SGI in February 2025. |
|