Earnings Per Share

9 Months Ended

Jun. 30, 2023

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 June 30,		Nine Months Ended June 30,
	2023	2022	2023	2022
Average common shares outstanding	286,317	285,441	284,830	285,121
Dilutive share equivalents from share-based plans	1,627	1,818	1,538	2,279
Dilutive share equivalents from Series C preferred shares (a)	—	38	—	31
Average common and common equivalent shares outstanding – assuming dilution	287,944	287,297	286,368	287,431

Share equivalents excluded from the diluted shares outstanding calculation:
Mandatory convertible preferred stock (b)	4,057	6,084	5,322	6,084
Share-based plans (c)	—	—	588	—

(a)Represents dilutive share equivalents from Series C preferred shares that temporarily replaced shares of common stock held in trusts to adhere to trust requirements until the Company’s spin-off of its Diabetes Care business on April 1, 2022 was completed.

(b)Excluded from the diluted shares outstanding calculation because the result would have been antidilutive.

(c)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.