XML 49 R29.htm IDEA: XBRL DOCUMENT v2.4.0.8
Earnings (Loss) Per Share
 12 Months Ended
Sep. 30, 2014
Earnings Per Share [Abstract]  
Earnings (Loss) Per Share
Earnings (Loss) Per Share

Prior to September 1, 2013, the Company granted awards of nonvested stock that contained a nonforfeitable right to dividends, if declared. In accordance with FASB ASC Topic 260, Earnings Per Share, these awards are considered to be participating securities and as a result, earnings per share is calculated using the two-class method. The two-class method is an earnings allocation method that determines earnings per share for common shares and participating securities. The undistributed earnings are allocated between common shares and participating securities as if all earnings had been distributed during the period. Participating securities and common shares have equal rights to undistributed earnings.

Effective September 1, 2013, new grants of awards of nonvested stock do not contain a nonforfeitable right to dividends during the vesting period. As a result, an employee will forfeit the right to dividends accrued on unvested awards if such awards do not ultimately vest. As such, these awards are not treated as participating securities in the earnings per share calculation as the employees do not have equivalent dividend rights as common shareholders.

The calculation of basic and diluted earnings per common share was as follows (in millions, except number of share amounts):
 
Fiscal Year Ended September 30,
 
2014
 
2013
 
2012
Income from continuing operations
$
309.3

 
$
316.3

 
$
245.2

Income (loss) from discontinued operations
—

 
1.7

 
(14.4
)
Net income
309.3

 
318.0

 
230.8

Earnings allocated to participating securities
(1.2
)
 
(2.0
)
 
(0.6
)
Earnings available to common shareholders
$
308.1

 
$
316.0

 
$
230.2

 
 
 
 
 
 
Basic EPS:
 
 
 
 
 
Weighted-average common shares outstanding
84,123,949

 
87,726,891

 
91,330,635

 
 
 
 
 
 
Diluted EPS:
 
 
 
 
 
Basic weighted-average common shares outstanding
84,123,949

 
87,726,891

 
91,330,635

Dilutive stock options and other equity-based compensation awards
1,540,287

 
1,466,730

 
562,508

Participating restricted stock
(206,601
)
 
(240,073
)
 
(84,186
)
Diluted weighted-average common shares outstanding
85,457,635

 
88,953,548

 
91,808,957


Shares not included in the computation of diluted earnings per share attributable to common shareholders because they would have been anti-dilutive were as follows:
 
Fiscal Year Ended September 30,
 
2014
 
2013
 
2012
Stock options
1,082,432

 
1,295,450

 
3,549,026