Annual report pursuant to Section 13 and 15(d)

Summary of Significant Accounting Policies (Tables)

v3.22.2.2
Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Jun. 30, 2022
Accounting Policies [Abstract]  
Reconciliation of Changes in Noncontrolling Interests The table below presents the reconciliation of changes in noncontrolling interests:

 

in thousands

 

 

 

 

 

 

Total

 

 

Balance as of June 30, 2020

 

$

3,890

 

 

Net income attributable to noncontrolling interest

 

 

1,287

 

 

Acquisition of noncontrolling interest

 

 

(3,858

)

 (1)

Balance as of June 30, 2021

 

 

1,319

 

 (2)

Net income attributable to noncontrolling interest

 

 

543

 

 

Balance as of June 30, 2022

 

$

1,862

 

 (2)

 

 

(1)

On April 1, 2021, the Company acquired the remaining 31% interest in the AMST joint venture, which increased the Company's ownership to 100%.

(2)

The remaining balance represents the 50% noncontrolling interests associated with the PMPP joint venture.
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 for the years ended June 30, 2022 and 2021, is presented below.

 

in thousands

 

 

 

 

 

 

 

 

 

Years Ended

 

 

 

June 30,
2022

 

 

 

June 30,
2021

 

Basic weighted average shares outstanding

 

 

22,806

 

 

 

 

16,687

 

Effect of common stock equivalents — stock issuable under outstanding equity awards

 

 

1,524

 

 

 

 

1,258

 

Diluted weighted average shares outstanding

 

 

24,330

 

 

 

 

17,945