Year Ended September 30,

2023

2022

2021

Numerator:

Net income attributable to Amdocs Limited

$

540,709

$

549,501

$

688,374

Net income attributable to Amdocs Limited and dividends
   attributable to participating restricted stock

(9,169

)

(7,880

)

(7,052

)

Numerator for basic earnings per common share

$

531,540

$

541,621

$

681,322

Undistributed income allocated to participating restricted stock

5,719

5,159

5,199

Undistributed income reallocated to participating restricted stock

(5,679

)

(5,124

)

(5,167

)

Numerator for diluted earnings per common share

$

531,580

$

541,656

$

681,354

Denominator:

Weighted average number of shares outstanding — basic

119,687

122,812

128,495

Weighted average number of participating restricted stock

(2,030

)

(1,761

)

(1,316

)

Weighted average number of common shares — basic

117,657

121,051

127,179

Effect of dilutive equity-based compensation awards

832

838

789

Weighted average number of common shares — diluted

118,489

121,889

127,968

Basic earnings per common share attributable to Amdocs Limited

$

4.52

$

4.47

$

5.36

Diluted earnings per common share attributable to Amdocs Limited

$

4.49

$

4.44

$

5.32