Earnings per Share

12 Months Ended

Sep. 30, 2021

The weighted average common shares used in the computations of basic and diluted earnings per share (shares in thousands) for the years ended September 30 were as follows:


	2021	2020	2019
Average common shares outstanding	289,288	278,971	269,943
Dilutive share equivalents from share-based plans (a) (b)	2,801	3,431	4,832
Average common and common equivalent shares outstanding — assuming dilution	292,089	282,402	274,775

(a)In 2021, 2020 and 2019, dilutive share equivalents associated with mandatory convertible preferred stock of 6 million, 9 million and 12 million, respectively, were excluded from the diluted shares outstanding calculation because the result would have been antidilutive. The issuance of the convertible preferred stock is further discussed in Note 3.

(b)In both 2021 and 2020, 1 million of certain share-based compensation awards were excluded from the diluted earnings per share calculation as the exercise prices of these awards were greater than the average market price of the Company’s common shares. In 2019, no such awards were excluded from the diluted earnings per share calculation. Additional disclosures regarding the Company’s share-based compensation are provided in Note 8.