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Earnings Per Common Share
6 Months Ended
Mar. 31, 2022
Earnings Per Share [Abstract]  
Earnings Per Common Share

3. EARNINGS PER COMMON SHARE

 

 

Three Months Ended

March 31,

 

 

Six Months Ended

March 31,

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Basic Earnings Per Common Share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Income

 

$

173.6

 

 

$

187.4

 

 

$

229.3

 

 

$

276.3

 

Less: Provision for preferred dividends

 

 

3.7

 

 

 

3.7

 

 

 

7.4

 

 

 

7.4

 

Income allocated to participating securities

 

 

0.2

 

 

 

0.3

 

 

 

0.3

 

 

 

0.4

 

Income Available to Common Shareholders

 

$

169.7

 

 

$

183.4

 

 

$

221.6

 

 

$

268.5

 

Weighted Average Common Shares Outstanding (in millions)

 

 

51.8

 

 

 

51.6

 

 

 

51.7

 

 

 

51.6

 

Basic Earnings Per Common Share

 

$

3.27

 

 

$

3.56

 

 

$

4.28

 

 

$

5.21

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted Earnings Per Common Share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Income

 

$

173.6

 

 

$

187.4

 

 

$

229.3

 

 

$

276.3

 

Less: Provision for preferred dividends

 

 

3.7

 

 

 

3.7

 

 

 

7.4

 

 

 

7.4

 

Income allocated to participating securities

 

 

0.2

 

 

 

0.3

 

 

 

0.3

 

 

 

0.4

 

Income Available to Common Shareholders

 

$

169.7

 

 

$

183.4

 

 

$

221.6

 

 

$

268.5

 

Weighted Average Common Shares Outstanding (in millions)

 

 

51.8

 

 

 

51.6

 

 

 

51.7

 

 

 

51.6

 

Dilutive Effect of Restricted Stock and Restricted Stock Units (in millions)*

 

 

0.1

 

 

 

0.1

 

 

 

0.1

 

 

 

0.1

 

Weighted Average Diluted Common Shares (in millions)

 

 

51.9

 

 

 

51.7

 

 

 

51.8

 

 

 

51.7

 

Diluted Earnings Per Common Share

 

$

3.27

 

 

$

3.55

 

 

$

4.28

 

 

$

5.20

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

* Calculation excludes certain outstanding common shares (shown in millions by

   period at the right) attributable to stock units subject to performance or market

   conditions and restricted stock, which could have a dilutive effect in the future

 

 

0.2

 

 

 

0.1

 

 

 

0.2

 

 

 

0.1