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Earnings Per Share
 6 Months Ended
Mar. 31, 2012
Earnings Per Share  
Earnings Per Share

Note 3. Earnings per share

Basic earnings per share is computed by dividing net earnings available to common stockholders by the weighted-average number of shares of common stock outstanding for the period.

Diluted earnings per share reflects the weighted-average number of shares outstanding after the assumed conversion of all dilutive securities.

The following is a reconciliation of net earnings to basic earnings per share and diluted earnings per share:

 

                                 
     Three-Months  Ending
March 31,		      Six-Months Ending
March  31,		  
     2012     2011      2012     2011  

Numerator:

                                  

Net earnings

    $

 38,751

     $

32,090

        $

 67,168

     $

54,489

   
    

 

 

    

 

 

     

 

 

    

 

 

  

Denominator:

                                  

Basic shares outstanding

      69,077      

68,752

         68,998       68,782   

Dilutive effect of stock options

      1,547      

1,355

         1,506     1,358   
    

 

 

    

 

 

     

 

 

    

 

 

  

Diluted shares outstanding

      70,624       

70,107

         70,504        70,140   
    

 

 

    

 

 

     

 

 

    

 

 

  

Income per common share:

                                  

Basic earnings per share

     $

 0.56

     $

0.47

        $

0.97 

     $ 0.79   
    

 

 

    

 

 

     

 

 

    

 

 

  

Diluted earnings per share

     $

 0.55

     $

0.46

        $

0.95 

     $ 0.78   
    

 

 

    

 

 

     

 

 

    

 

 

  

The following stock option grants were outstanding during the three and six-months ending March 31, 2012 and 2011, but were excluded from the computation of diluted earnings per share because their inclusion would have been anti-dilutive:

 

                                 
     Three-Months  Ending
March 31,		      Six-Months Ending
March  31,		  
     2012     2011      2012     2011  

Options

     

 6

      

680

        

 39

       678   
    

 

 

    

 

 

     

 

 

    

 

 

  

Weighted-average option price

     $

40.60

     $

32.03

        $

34.63

     $

32.02

   
    

 

 

    

 

 

     

 

 

    

 

 

  

The weighted-average shares of common stock outstanding for basic and diluted earnings per share included weighted-average treasury stock shares held for deferred compensation obligations of the following:

 

                                 
     Three-Months  Ending
March 31,		      Six-Months Ending
March  31,		  
     2012     2011      2012     2011  

Weighted-average treasury stock shares held for deferred compensation obligations

      304       345         307       348