Weighted Average Shares Outstanding

9 Months Ended

Sep. 30, 2019

Basic earnings per share were calculated using net earnings and the weighted average number of shares of common stock outstanding during the respective period. Diluted earnings per share were calculated using net earnings and the weighted average number of shares of common stock and potential common stock outstanding during the respective period. Potentially dilutive common stock consisted of stock options based upon the trading price of Roper’s common stock. The effects of potential common stock were determined using the treasury stock method. Weighted average shares outstanding are shown below:



	Three months ended September 30,		Nine months ended September 30,
	2019	2018	2019	2018
Basic shares outstanding	104.0	103.4	103.8	103.2
Effect of potential common stock:
Common stock awards	1.2	1.2	1.2	1.2
Diluted shares outstanding	105.2	104.6	105.0	104.4

For the three and nine months ended September 30, 2019, there were 0.605 and 0.622 outstanding stock options, that were not included in the determination of diluted earnings per share because doing so would have been antidilutive, as compared to 0.689 and 0.697 outstanding stock options that would have been antidilutive in the respective 2018 periods.