Earnings per Share

9 Months Ended

Jun. 30, 2013

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

Earnings per Share

Basic earnings per share is calculated using the weighted average number of shares outstanding during each period. Diluted earnings per share calculation includes the impact of dilutive common stock options, restricted stock, performance share awards and convertible securities, if applicable.

A reconciliation of basic average common shares outstanding to diluted average common shares outstanding is as follows (in millions):

	Three Months Ended June 30,		Nine Months Ended June 30,
	2013	2012	2013	2012
Basic average common shares outstanding	97.2	96.4	97.0	95.7
Impact of stock options	—	—	—	—
Impact of restricted shares and share units	—	0.8	—	1.5
Diluted average common shares outstanding	97.2	97.2	97.0	97.2

For the three and nine months ended June 30, 2012, options to purchase 0.7 million shares of common stock were excluded from the computation of diluted earnings per share because their exercise price exceeded the average market price for the period and thus their inclusion would be anti-dilutive. The potential effects of stock options and restricted shares and share units were excluded from the diluted earnings per share calculation for the three and nine months ended June 30, 2013 because their inclusion in a net loss period would reduce the net loss per share. Therefore, options to purchase 0.5 million shares of common stock were excluded from the computation of diluted earnings per share for the three and nine months ended June 30, 2013. In addition, 0.9 million and 0.6 million shares of restricted stock were excluded from the computation of diluted earnings per share for the three and nine months ended June 30, 2013, respectively. The company’s convertible senior unsecured notes are excluded from the computation of diluted earnings per share, as the stock price at the end of the quarter is less than the conversion price.