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Earnings Per Share (Tables)
6 Months Ended
Mar. 31, 2021
Earnings Per Share [Abstract]  
Reconciliation of Net Earnings to Net Earnings Per Share Basic and Diluted

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

 

 

 

Three-Months Ended

March 31,

 

 

Six-Months Ended

March 31,

 

 

 

2021

 

 

2020

 

 

2021

 

 

2020

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net earnings

 

$

68,313

 

 

$

91,318

 

 

$

109,883

 

 

$

144,691

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic shares outstanding

 

 

63,278

 

 

 

62,266

 

 

 

63,043

 

 

 

62,128

 

Dilutive effect of stock options and restricted stock

 

 

2,376

 

 

 

2,298

 

 

 

2,231

 

 

 

2,494

 

Diluted shares outstanding

 

 

65,654

 

 

 

64,564

 

 

 

65,274

 

 

 

64,622

 

Income per common share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic earnings per share

 

$

1.08

 

 

$

1.47

 

 

$

1.74

 

 

$

2.33

 

Diluted earnings per share

 

$

1.04

 

 

$

1.41

 

 

$

1.68

 

 

$

2.24

 

Anti-dilutive Stock Options Excluded from Computation of Earnings Per Share

The following stock option grants were outstanding but were excluded from the computation of diluted earnings per share because their inclusion would have been anti-dilutive.

 

 

 

Three-Months Ended

March 31,

 

 

Six-Months Ended

March 31,

 

 

 

2021

 

 

2020

 

 

2021

 

 

2020

 

Options

 

 

41

 

 

 

686

 

 

 

602

 

 

 

686

 

Weighted-average option price

 

$

117.39

 

 

$

104.51

 

 

$

104.85

 

 

$

104.47

 

Schedule of Treasury Stock Shares Held for Deferred Compensation Included in Basic and Diluted Shares Outstanding

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:

 

 

 

Three-Months Ended

March 31,

 

 

Six-Months Ended

March 31,

 

 

 

2021

 

 

2020

 

 

2021

 

 

2020

 

Weighted-average treasury stock shares held for deferred compensation obligations

 

 

196

 

 

 

216

 

 

 

197

 

 

 

214