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Earnings Per Share | 6 Months Ended
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Mar. 31, 2021
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 March 31, |  |  | Six-Months Ended March 31, |
|  | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
Numerator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net earnings |  | $ | 68,313 |  |  | $ | 91,318 |  |  | $ | 109,883 |  |  | $ | 144,691 |
Denominator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic shares outstanding |  |  | 63,278 |  |  |  | 62,266 |  |  |  | 63,043 |  |  |  | 62,128 |
Dilutive effect of stock options and restricted stock |  |  | 2,376 |  |  |  | 2,298 |  |  |  | 2,231 |  |  |  | 2,494 |
Diluted shares outstanding |  |  | 65,654 |  |  |  | 64,564 |  |  |  | 65,274 |  |  |  | 64,622 |
Income per common share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic earnings per share |  | $ | 1.08 |  |  | $ | 1.47 |  |  | $ | 1.74 |  |  | $ | 2.33 |
Diluted earnings per share |  | $ | 1.04 |  |  | $ | 1.41 |  |  | $ | 1.68 |  |  | $ | 2.24 |
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 March 31, |  |  | Six-Months Ended March 31, |
|  | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
Options |  |  | 41 |  |  |  | 686 |  |  |  | 602 |  |  |  | 686 |
Weighted-average option price |  | $ | 117.39 |  |  | $ | 104.51 |  |  | $ | 104.85 |  |  | $ | 104.47 |
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 March 31, |  |  | Six-Months Ended March 31, |
|  | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
Weighted-average treasury stock shares held for deferred compensation obligations |  |  | 196 |  |  |  | 216 |  |  |  | 197 |  |  |  | 214 |

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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 + Details
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