Earnings Per Share

3 Months Ended

Dec. 31, 2014

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 consideration of the dilutive effect of stock options and restricted stock.

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



	Three-Months Ended
	December 31,
	2014		2013
Numerator:
Net earnings	$	43,784	$	23,383
Denominator:
Basic shares outstanding		65,322		67,724
Dilutive effect of stock options and restricted stock		1,417		1,297
Diluted shares outstanding		66,739		69,021
Income per common share:
Basic earnings per share	$	0.67	$	0.35
Diluted earnings per share	$	0.66	$	0.34

The following stock option grants were outstanding during the three-months ended December 31, 2014 and 2013, but were excluded from the computation of diluted earnings per share because their inclusion would have been anti-dilutive:



	Three-Months Ended
	December 31,
	2014		2013
Options		704		39
Weighted-average option price	$	46.54	$	41.33

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



	Three-Months Ended
	December 31,
	2014		2013
Weighted-average treasury stock shares held for deferred compensation obligations		205		234

- Definition

The entire disclosure for earnings per share.

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