Earnings Per Share

6 Months Ended

Mar. 31, 2017

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 March 31,		Six Months Ended March 31,
	2017	2016	2017	2016
Average common shares outstanding	213,583	212,469	213,321	212,077
Dilutive share equivalents from share-based plans (A)	4,283	4,069	4,665	4,618
Average common and common equivalent shares outstanding – assuming dilution	217,866	216,538	217,986	216,695


(A)	The prior-period adjustments 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 adjustments in the current-year periods 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.