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Earnings per Share (Tables)
 6 Months Ended
Mar. 31, 2017
Earnings per Share  
Schedule of computation of basic and diluted earnings per share

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

Six Months Ended

 

 

 

March 31, 

 

March 31, 

 

 

    

2017

    

2016

    

2017

    

2016

 

 

 

(in thousands, except per share amounts)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

 

Income (loss) from continuing operations

 

$

(48,473)

 

$

25,174

 

$

(83,027)

 

$

41,072

 

Loss from discontinued operations

 

 

(345)

 

 

(3,969)

 

 

(854)

 

 

(3,865)

 

Net income (loss)

 

 

(48,818)

 

 

21,205

 

 

(83,881)

 

 

37,207

 

Adjustment for basic earnings per share

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings allocated to unvested shareholders

 

 

(445)

 

 

(483)

 

 

(891)

 

 

(940)

 

Numerator for basic earnings per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

From continuing operations

 

 

(48,918)

 

 

24,691

 

 

(83,918)

 

 

40,132

 

From discontinued operations

 

 

(345)

 

 

(3,969)

 

 

(854)

 

 

(3,865)

 

 

 

 

(49,263)

 

 

20,722

 

 

(84,772)

 

 

36,267

 

Adjustment for diluted earnings per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

Effect of reallocating undistributed earnings of unvested shareholders

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

Numerator for diluted earnings per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

From continuing operations

 

 

(48,918)

 

 

24,691

 

 

(83,918)

 

 

40,132

 

From discontinued operations

 

 

(345)

 

 

(3,969)

 

 

(854)

 

 

(3,865)

 

 

 

$

(49,263)

 

$

20,722

 

$

(84,772)

 

$

36,267

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

 

Denominator for basic earnings per share - weighted-average shares

 

 

108,565

 

 

108,014

 

 

108,419

 

 

107,933

 

Effect of dilutive shares from stock options and restricted stock

 

 

 —

 

 

452

 

 

 —

 

 

497

 

Denominator for diluted earnings per share - adjusted weighted-average shares

 

 

108,565

 

 

108,466

 

 

108,419

 

 

108,430

 

Basic earnings per common share:

 

 

 

 

 

 

 

 

 

 

 

 

 

Income (loss) from continuing operations

 

$

(0.45)

 

$

0.23

 

$

(0.77)

 

$

0.38

 

Loss from discontinued operations

 

 

 —

 

 

(0.04)

 

 

(0.01)

 

 

(0.04)

 

Net income (loss)

 

$

(0.45)

 

$

0.19

 

$

(0.78)

 

$

0.34

 

Diluted earnings per common share:

 

 

 

 

 

 

 

 

 

 

 

 

 

Income (loss) from continuing operations

 

$

(0.45)

 

$

0.23

 

$

(0.77)

 

$

0.37

 

Loss from discontinued operations

 

 

 —

 

 

(0.04)

 

 

(0.01)

 

 

(0.04)

 

Net income (loss)

 

$

(0.45)

 

$

0.19

 

$

(0.78)

 

$

0.33

 

 

Schedule of shares attributable to outstanding equity awards excluded from the calculation of diluted earnings per share

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

Six Months Ended

 

 

 

March 31, 

 

March 31, 

 

 

    

2017

    

2016

    

2017

    

2016

 

 

 

(in thousands, except per share amounts)

 

(in thousands, except per share amounts)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Shares excluded from calculation of diluted earnings per share

 

 

566

 

 

2,211

 

 

566

 

 

2,211

 

Weighted-average price per share

 

$

80.43

 

$

62.29

 

$

80.43

 

$

62.29