Earnings Per Share

9 Months Ended

Jun. 30, 2025

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, restricted stock, and performance stock units.

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,
	2025		2024		2025		2024
Numerator:
Net earnings	$	108,448	$	102,075	$	304,488	$	289,675
Denominator:
Basic shares outstanding		59,680		60,425		59,442		60,290
Dilutive effect of stock options; restricted and performance stock		1,808		2,097		1,932		2,005
Diluted shares outstanding		61,488		62,522		61,374		62,295
Income per common share:
Basic earnings per share	$	1.82	$	1.69	$	5.12	$	4.80
Diluted earnings per share	$	1.76	$	1.63	$	4.96	$	4.65

The following stock option grants and restricted stock awards 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,
	2025		2024		2025		2024
Restricted stock and option awards		38		80		20		53
Weighted-average price	$	193.09	$	137.76	$	185.74	$	134.79

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,
	2025		2024		2025		2024
Weighted-average treasury stock shares held for deferred compensation obligations		30		53		34		54