Earnings Per Share

9 Months Ended

Apr. 30, 2024

Earnings Per Share [Abstract]

Earnings Per Share

Note 9. Earnings Per Share

Basic net earnings per share (EPS) is computed by dividing net earnings by the weighted average number of outstanding common shares. Diluted net EPS is computed by dividing net earnings by the weighted average number of outstanding common shares and common share equivalents relating to stock options and other stock incentive plans.

Basic and diluted net EPS calculations were as follows (in millions, except per share amounts):

	Three Months Ended April 30,				Nine Months Ended April 30,
	2024		2023		2024		2023
Net earnings	$	113.5	$	93.7	$	304.3	$	266.9
Weighted average common shares outstanding
Weighted average common shares – basic	120.8		121.6		120.8		122.0
Dilutive impact of stock-based awards	2.1		1.9		1.8		1.7
Weighted average common shares – diluted	122.9		123.5		122.6		123.7
Net EPS – basic	$	0.94	$	0.77	$	2.52	$	2.19
Net EPS – diluted	$	0.92	$	0.76	$	2.48	$	2.16
Impact of potentially anti-dilutive stock options excluded from net EPS calculation	—		—		—		1.5