Earnings Per Share

3 Months Ended

Dec. 31, 2016

Earnings per Share

The weighted average common shares used in the computations of basic and diluted earnings per share (shares in thousands) were as follows:



	Three Months Ended December 31,
	2016	2015
Average common shares outstanding	213,064	211,689
Dilutive share equivalents from share-based plans (A)	4,675	4,605
Average common and common equivalent shares outstanding – assuming dilution	217,739	216,294


(A)	The prior-period adjustment to calculate diluted share equivalents from share-based plans included excess tax benefits relating to share-based compensation awards. Upon the Company's adoption, as discussed in Note 2, of new accounting requirements relating to share-based compensation award-related income tax effects, the current-year period adjustment excluded these excess tax benefits.

Using proceeds received from the divestiture of the Respiratory Solutions business in the first quarter of fiscal year 2017, the Company repurchased approximately 1.3 million shares of its common stock under an accelerated share repurchase agreement. The repurchased shares were recorded as a $220 million increase to Common stock in treasury.