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Earnings Per Share

9 Months Ended

Jun. 30, 2020

Earnings Per Share [Abstract]

Earnings Per Share

Note 4.  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 June 30,								Nine-Months Ended June 30,
		2020				2019				2020				2019
Numerator:
Net earnings		$	38,465			$	66,107			$	183,156			$	192,806
Denominator:
Basic shares outstanding			62,309				61,941				62,188				61,977
Dilutive effect of stock options and restricted stock			1,118				2,692				2,085				2,460
Diluted shares outstanding			63,427				64,633				64,273				64,437
Income per common share:
Basic earnings per share		$	0.62			$	1.07			$	2.95			$	3.11
Diluted earnings per share		$	0.61			$	1.02			$	2.85			$	2.99

The following stock option grants were outstanding but were excluded from the computation of diluted earnings per share because their inclusion would have been anti-dilutive.

		Three-Months Ended June 30,								Nine-Months Ended June 30,
		2020				2019				2020				2019
Options			2,357				39				670				19
Weighted-average option price		$	83.75			$	97.13			$	104.48			$	97.13

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 June 30,								Nine-Months Ended June 30,
		2020				2019				2020				2019
Weighted-average treasury stock shares held for deferred compensation obligations			214				208				213				207

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- References

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- Definition

The entire disclosure for earnings per share.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109243012&loc=SL65017193-207537

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-URI http://asc.fasb.org/topic&trid=2144383

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3630-109257

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