EARNINGS (LOSS) PER SHARE

12 Months Ended

Sep. 30, 2015

Basic and diluted EPS for the years ended September 30, 2015, 2014 and 2013 were determined using the following information (in thousands):



	2015	2014	2013
Weighted average shares outstanding - basic	44,608	49,367	54,428
Incremental shares from stock based compensation	2,011	—	2,135
Convertible debt due 2017	320	—	—
Weighted average shares outstanding - diluted	46,939	49,367	56,563
Anti-dilutive options excluded from diluted EPS computation	493	582	714
Anti-dilutive restricted stock excluded from diluted EPS computation	—	1,642	—

Griffon has the intent and ability to settle the principal amount of the 2017 Notes in cash, and therefore the potential issuance of shares related to the principal amount of the 2017 Notes does not affect diluted shares. Shares of the ESOP that have been allocated to employee accounts are treated as outstanding in determining earnings per share.