Earnings Per Share

9 Months Ended

Jun. 30, 2012

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 the assumed conversion of all dilutive securities.

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

	Three-Months Ending June 30,				Nine-Months Ending June 30,
	2012		2011		2012		2011
Numerator:
Net earnings	$	28,302	$	36,056	$	95,470	$	90,545
Denominator:
Basic shares outstanding		68,922		68,793		68,973		68,785
Dilutive effect of stock options		1,397		1,373		1,473		1,370
Diluted shares outstanding		70,319		70,166		70,446		70,155
Income per common share:
Basic earnings per share	$	0.41	$	0.52	$	1.38	$	1.32
Diluted earnings per share	$	0.40	$	0.51	$	1.36	$	1.29

The following stock option grants were outstanding during the three and nine-months ending June 30, 2012 and 2011, but were excluded from the computation of diluted earnings per share because their inclusion would have been anti-dilutive:

	Three-Months Ending June  30,				Nine-Months Ending June  30,
	2012		2011		2012		2011
Options		31		678		45		679
Weighted-average option price	$	41.53	$	32.06	$	35.87	$	32.03

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

	Three-Months  Ending June 30,				Nine-Months Ending June  30,
	2012		2011		2012		2011
Weighted-average treasury stock shares held for deferred compensation obligations		284		324		299		340