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EARNINGS (LOSSES) PER COMMON SHARE
 12 Months Ended
Sep. 30, 2018
EARNINGS (LOSSES) PER COMMON SHARE  
EARNINGS (LOSSES) PER COMMON SHARE

NOTE 11 EARNINGS (LOSSES) PER COMMON SHARE

The following table sets forth the computation of basic and diluted earnings per share:

 

 

 

 

 

 

 

 

 

 

 

 

September 30, 

 

    

2018

    

2017

    

2016

 

 

(in thousands)

 

 

 

 

 

 

 

 

 

 

Numerator:

 

 

 

 

 

 

 

 

 

Income (loss) from continuing operations

 

$

493,010

 

$

(127,863)

 

$

(52,990)

Loss from discontinued operations

 

 

(10,338)

 

 

(349)

 

 

(3,838)

Net income (loss)

 

 

482,672

 

 

(128,212)

 

 

(56,828)

Adjustment for basic earnings per share

 

 

 

 

 

 

 

 

 

Earnings allocated to unvested shareholders

 

 

(4,346)

 

 

(1,811)

 

 

(1,858)

Numerator for basic earnings per share:

 

 

 

 

 

 

 

 

 

From continuing operations

 

 

488,664

 

 

(129,674)

 

 

(54,848)

From discontinued operations

 

 

(10,338)

 

 

(349)

 

 

(3,838)

 

 

 

478,326

 

 

(130,023)

 

 

(58,686)

Adjustment for diluted earnings per share:

 

 

 

 

 

 

 

 

 

Effect of reallocating undistributed earnings of unvested shareholders

 

 

 7

 

 

 —

 

 

 —

Numerator for diluted earnings per share:

 

 

 

 

 

 

 

 

 

From continuing operations

 

 

488,671

 

 

(129,674)

 

 

(54,848)

From discontinued operations

 

 

(10,338)

 

 

(349)

 

 

(3,838)

 

 

$

478,333

 

$

(130,023)

 

$

(58,686)

Denominator:

 

 

 

 

 

 

 

 

 

Denominator for basic earnings per share - weighted-average shares

 

 

108,851

 

 

108,500

 

 

107,996

Effect of dilutive shares from stock options and restricted stock

 

 

536

 

 

 —

 

 

 —

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

 

 

109,387

 

 

108,500

 

 

107,996

Basic earnings per common share:

 

 

 

 

 

 

 

 

 

Income (loss) from continuing operations

 

$

4.49

 

$

(1.20)

 

$

(0.50)

Loss from discontinued operations

 

 

(0.10)

 

 

 —

 

 

(0.04)

Net income (loss)

 

$

4.39

 

$

(1.20)

 

$

(0.54)

Diluted earnings per common share:

 

 

 

 

 

 

 

 

 

Income (loss) from continuing operations

 

$

4.47

 

$

(1.20)

 

$

(0.50)

Loss from discontinued operations

 

 

(0.10)

 

 

 —

 

 

(0.04)

Net income (loss)

 

$

4.37

 

$

(1.20)

 

$

(0.54)

 

We had a net loss for fiscal years 2017 and 2016.  Accordingly, our diluted earnings per share calculation for those years were equivalent to our basic earnings per share calculation since diluted earnings per share excluded any assumed exercise of equity awards.  These were excluded because they were deemed to be anti-dilutive, meaning their inclusion would have reduced the reported net loss per share in the applicable period.

The following shares attributable to outstanding equity awards were excluded from the calculation of diluted earnings per share because their inclusion would have been anti-dilutive:

 

 

 

 

 

 

 

 

 

 

 

    

2018

    

2017

    

2016

 

 

(in thousands, except per share amounts)

Shares excluded from calculation of diluted earnings per share

 

 

1,559

 

 

1,008

 

 

1,788

Weighted-average price per share

 

$

68.28

 

$

74.38

 

$

63.73