Weighted Average Shares Outstanding

9 Months Ended

Sep. 30, 2023

Basic earnings per share was calculated using net earnings and the weighted average number of shares of common stock outstanding during the respective period. Diluted earnings per share was 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 average 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 presented below:


	Three months ended September 30,		Nine months ended September 30,
	2023	2022	2023	2022
Basic shares outstanding	106.7	106.0	106.5	105.9
Effect of potential common stock:
Common stock awards	0.9	0.8	0.8	0.9
Diluted shares outstanding	107.6	106.8	107.3	106.8

For the three and nine months ended September 30, 2023, there were 0.707 and 0.734 outstanding stock options, respectively, that were not included in the determination of diluted earnings per share because doing so would have been antidilutive, as compared to 0.832 and 0.829 outstanding stock options that would have been antidilutive in the respective 2022 periods.