Earnings Per Share

12 Months Ended

Sep. 30, 2014

Earnings Per Share

Earnings Per Share

Note 3.  Earnings per share

Basic earnings per share is computed by dividing net earnings available to common stockholders by the weighted-average number of shares of common stock outstanding for the period.

Diluted earnings per share reflects the weighted-average number of shares outstanding after consideration of the dilutive effect of stock options and restricted stock.

The following is a reconciliation of net earnings to basic earnings per share and diluted earnings per share:

	Year Ended September 30,
	2014		2013		2012
Numerator:
Net earnings	$	165,844	$	145,942	$	141,589
Denominator:
Basic shares outstanding		66,432		68,392		68,880
Dilutive effect of stock options and restricted stock		1,344		1,210		1,427
Diluted shares outstanding		67,776		69,602		70,307
Income per common share:
Basic earnings per share	$	2.50	$	2.13	$	2.06
Diluted earnings per share	$	2.45	$	2.10	$	2.01

The following stock option grants were outstanding during the fiscal years ended September 30, 2014, 2013 and 2012, but were excluded from the computation of diluted earnings per share because their inclusion would have been anti-dilutive:

	Year Ended September 30,
	2014		2013		2012
Options		12		44		50
Weighted-average option price	$	44.04	$	40.21	$	36.33

The weighted-average shares of common stock outstanding for basic and diluted earnings per share included the weighted-average treasury stock shares held for deferred compensation obligations of the following:

	Year Ended September 30,
	2014		2013		2012
Weighted-average treasury stock shares held for deferred compensation obligations		216		256		295