Earnings Per Common Share

9 Months Ended

Jun. 30, 2016

EARNINGS PER COMMON SHARE

The computation of basic and diluted earnings per share for the three and nine months ended June 30, 2016 and 2015 is as follows:



	Three Months Ended						Nine Months Ended
(In thousands, except per share amounts)	Net Income		Shares	Per Share Amount			Net Income		Shares	Per Share Amount
June 30, 2016
Basic earnings per share	$	99,505	64,795	$	1.54		$	261,023	64,750	$	4.03
Effect of dilutive securities:
Stock options	—		—	—			—		—	—
Restricted stock and performance units	—		52	(0.01		)	—		102	(0.01		)
Diluted earnings per share	$	99,505	64,847	$	1.53		$	261,023	64,852	$	4.02
June 30, 2015
Basic earnings per share	$	112,992	64,649	1.75			281,879		64,557	$	4.37
Effect of dilutive securities:
Stock options	—		61	—			—		74	—
Restricted stock and performance units	—		420	(0.02		)	—		432	(0.04		)
Diluted earnings per share	$	112,992	65,130	$	1.73		281,879		65,063	$	4.33

For the purpose of calculating diluted earnings per share for the three and nine months ended June 30, 2016, there were approximately 2,377,436 and 2,070,774 anti-dilutive securities and for the three and nine months ended June 30, 2015, there were approximately 873,000 and 867,000 anti-dilutive securities.