XML 34 R19.htm IDEA: XBRL DOCUMENT
v3.25.0.1

EARNINGS PER COMMON SHARE | 3 Months Ended
--- | ---
Dec. 31, 2024
Earnings Per Share [Abstract] |
EARNINGS PER COMMON SHARE |
NOTE 10 EARNINGS PER COMMON SHARE
ASC 260, Earnings per Share, requires companies to treat unvested share-based payment awards that have non-forfeitable rights to dividends or dividend equivalents as a separate class of securities in calculating earnings per share. We have granted and expect to continue to grant to employees restricted stock grants that contain non-forfeitable rights to dividends. Such grants are considered participating securities under ASC 260. As such, we are required to include these grants in the calculation of our basic earnings per share and calculate basic earnings per share using the two-class method. The two-class method of computing earnings per share is an earnings allocation formula that determines earnings per share for each class of common stock and participating security according to dividends declared (or accumulated) and participation rights in undistributed earnings. Basic earnings per share is computed utilizing the two-class method and is calculated based on the weighted-average number of common shares outstanding during the periods presented. Diluted earnings per share is computed using the weighted-average number of common and common equivalent shares outstanding during the periods utilizing the two-class method for stock options, non-vested restricted stock and performance units. Under the two-class method of calculating earnings per share, dividends paid and a portion of undistributed net income, but not losses, are allocated to unvested restricted stock grants that receive dividends, which are considered participating securities. The following table sets forth the computation of basic and diluted earnings per share:
| Three Months Ended December 31,
(in thousands, except per share amounts) | 2024 |  | 2023
Numerator: |  |  |
Net income | $ | 54,772 |  |  | $ | 95,173 |
Adjustment for basic earnings per share |  |  |
Earnings allocated to unvested shareholders | (760) |  |  | (1,248) |
Numerator for basic earnings per share | 54,012 |  |  | 93,925 |
Adjustment for diluted earnings per share |  |  |
Effect of reallocating undistributed earnings of unvested shareholders | 1 |  |  | 2 |
Numerator for diluted earnings per share | $ | 54,013 |  |  | $ | 93,927 |
Denominator: |  |  |
Denominator for basic earnings per share - weighted-average shares | 98,867 |  |  | 99,143 |
Effect of dilutive shares from restricted stock and performance share units | 292 |  |  | 485 |
Denominator for diluted earnings per share - adjusted weighted-average shares | 99,159 |  |  | 99,628 |
Basic earnings per common share: | $ | 0.55 |  |  | $ | 0.95 |
Diluted earnings per common share: | $ | 0.54 |  |  | $ | 0.94 |
The following potentially dilutive average shares attributable to outstanding equity awards were excluded from the calculation of diluted earnings per share because their inclusion would have been anti-dilutive:
| Three Months Ended December 31,
(in thousands, except per share amounts) | 2024 |  | 2023
Potentially dilutive shares excluded as anti-dilutive | 2,341 |  |  | 2,601 |
Weighted-average price per share | $ | 54.91 |  |  | $ | 57.21 |

X
- References No definition available. + Details
Name: | us-gaap_EarningsPerShareAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/260/tableOfContent Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-2 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-3 + Details
Name: | us-gaap_EarningsPerShareTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration