Earnings Per Share (Tables)

6 Months Ended

Mar. 31, 2022

Weighted Average Common Shares Used in Computations of Basic and Diluted Earnings Per Share

The weighted average common shares used in the computations of basic and diluted earnings per share (shares in thousands) were as follows:


	Three Months Ended March 31,		Six Months Ended March 31,
	2022	2021	2022	2021
Average common shares outstanding	285,243	291,095	284,961	290,839
Dilutive share equivalents from share-based plans	2,003	2,452	2,215	2,660
Dilutive share equivalents from Series C preferred shares (a)	53	—	26	—
Average common and common equivalent shares outstanding – assuming dilution	287,299	293,547	287,202	293,499

Share equivalents excluded from the diluted shares outstanding calculation:
Mandatory convertible preferred stock (b)	5,639	6,169	5,639	6,169
Share-based plans (c)	—	773	676	773

(a)Represents dilutive share equivalents from Series C preferred shares that temporarily replaced shares of common stock held in trusts to adhere to trust requirements until the Company’s spin-off of its Diabetes Care business on April 1, 2022 was completed.

(b)Excluded from the diluted shares outstanding calculation because the result would have been antidilutive.

(c)Excluded from the diluted earnings per share calculation as the exercise prices of these awards were greater than the average market price of the Company’s common shares.