EARNINGS PER SHARE

12 Months Ended

Sep. 30, 2020

8. EARNINGS PER SHARE

The following table presents the calculation of the Company’s basic and diluted earnings per share for the fiscal years ended September 30:


(Thousands, except per share amounts)	2020		2019		2018
Net income, as reported	$	163,007	$	123,935	$	231,013
Basic earnings per share
Weighted average shares of common stock outstanding-basic	94,798		89,242		87,689
Basic earnings per common share	$1.72		$1.39		$2.63
Diluted earnings per share
Weighted average shares of common stock outstanding-basic	94,798		89,242		87,689
Incremental shares (1)	305		354		626
Weighted average shares of common stock outstanding-diluted	95,103		89,596		88,315
Diluted earnings per common share (2)	$1.71		$1.38		$2.62

(1)Incremental shares consist primarily of unvested stock awards and performance units.

(2)There were anti-dilutive shares of 74,000 excluded from the calculation of diluted earnings per share related to the equity forward sale agreement for fiscal 2020. There were no anti-dilutive shares excluded from the calculation of diluted earnings per share for fiscal 2019 and 2018.