Earnings Per Share

The Company’s basic net earnings per share is computed by dividing net earnings by the weighted average number of outstanding common shares. The Company’s diluted net earnings per share is computed by dividing net earnings by the weighted average number of outstanding common shares and common share equivalents relating to stock options and stock incentive plans. Certain outstanding options were excluded from the diluted net earnings per share calculations because their exercise prices are greater than the average market price of the Company’s common stock during those periods. Options excluded from the diluted net earnings per share calculations were 0.8 million for the three and nine months ended April 30, 2019. Options excluded from the diluted net earnings per share calculations were 0.1 million for the three and nine months ended April 30, 2018.

The following table presents the information necessary to calculate basic and diluted net earnings per share (in millions, except per share amounts):



	Three Months Ended April 30,				Nine Months Ended April 30,
	2019		2018		2019		2018
Net earnings for basic and diluted earnings per share computation	$	75.2	$	69.9	$	209.1	$	77.9

Weighted average common shares outstanding:
Weighted average common shares – basic	128.2		130.1		128.5		130.5
Dilutive impact of share-based awards	1.8		1.8		1.9		2.0
Weighted average common shares – diluted	130.0		131.9		130.4		132.5

Net earnings per share – basic	$	0.59	$	0.54	$	1.63	$	0.60
Net earnings per share – diluted	$	0.58	$	0.53	$	1.60	$	0.59