EARNINGS (LOSS) PER COMMON SHARE (Tables)

6 Months Ended

Mar. 31, 2019

EARNINGS (LOSS) PER COMMON SHARE

Schedule of computation of basic and diluted earnings per share

The following table sets forth the computation of basic and diluted earnings per share:

	Three Months Ended				Six Months Ended
	March 31,				March 31,
	2019		2018		2019		2018
	(in thousands, except per share amounts)
Numerator:
Income from continuing operations	$	71,857	$	(1,633)	$	80,221	$	499,009
Income (loss) from discontinued operations		(10,966)		(10,246)		(371)		(10,782)
Net income		60,891		(11,879)		79,850		488,227
Adjustment for basic earnings per share
Earnings allocated to unvested shareholders		(784)		(717)		(1,560)		(4,106)
Numerator for basic earnings per share:
From continuing operations		71,073		(2,350)		78,661		494,903
From discontinued operations		(10,966)		(10,246)		(371)		(10,782)
		60,107		(12,596)		78,290		484,121
Adjustment for diluted earnings per share:
Effect of reallocating undistributed earnings of unvested shareholders		—		—		—		11
Numerator for diluted earnings per share:
From continuing operations		71,073		(2,350)		78,661		494,914
From discontinued operations		(10,966)		(10,246)		(371)		(10,782)
	$	60,107	$	(12,596)	$	78,290	$	484,132
Denominator:
Denominator for basic earnings per share - weighted-average shares		109,406		108,868		109,273		108,775
Effect of dilutive shares from stock options, restricted stock and performance units		97		—		179		437
Denominator for diluted earnings per share - adjusted weighted-average shares		109,503		108,868		109,452		109,212
Basic earnings per common share:
Income from continuing operations	$	0.65	$	(0.03)	$	0.72	$	4.55
Income from discontinued operations		(0.10)		(0.09)		—		(0.10)
Net income	$	0.55	$	(0.12)	$	0.72	$	4.45
Diluted earnings per common share:
Income from continuing operations	$	0.65	$	(0.03)	$	0.72	$	4.53
Income from discontinued operations		(0.10)		(0.09)		—		(0.10)
Net income	$	0.55	$	(0.12)	$	0.72	$	4.43

Schedule of shares attributable to outstanding equity awards excluded from the calculation of diluted earnings per share

The following average shares attributable to outstanding equity awards were excluded from the calculation of diluted earnings per share because their inclusion would have been anti-dilutive:

	Three Months Ended				Six Months Ended
	March 31,				March 31,
	2019		2018		2019		2018
	(in thousands, except per share amounts)
Shares excluded from calculation of diluted earnings per share		2,921		1,613		2,770		1,676
Weighted-average price per share	$	64.04	$	68.69	$	64.18	$	68.12