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Earnings per Share (Notes)
 6 Months Ended
Mar. 31, 2016
Earnings Per Share [Abstract]  
Earnings Per Share [Text Block]
Earnings per Share
The Company presents basic and diluted earnings per share (“EPS”) using the two-class method which requires all outstanding unvested share-based payment awards that contain rights to non-forfeitable dividends and therefore participate in undistributed earnings with common stockholders be included in computing earnings per share. Under the two-class method, net earnings are reduced by the amount of dividends declared in the period for each class of common stock and participating security. The remaining undistributed earnings are then allocated to common stock and participating securities, based on their respective rights to receive dividends. Restricted stock awards granted to certain employees and directors contain non-forfeitable rights to dividends at the same rate as common stock, and are considered participating securities. Basic EPS has been computed by dividing net income by the weighted-average number of common shares outstanding. The following is a reconciliation of the numerator and denominator of the diluted net income per share computations for the periods presented below.
 
Three Months Ended March 31,
 
Six Months Ended March 31,
(in millions, except share amounts)
2016
 
2015
 
2016
 
2015
Numerator:
 
 
 
 
 
 
 
Net income
$
14.5

 
$
13.0

 
$
23.3

 
$
22.4

Less: Allocation to participating securities
(0.3
)
 
(0.3
)
 
(0.4
)
 
(0.5
)
Net income allocated to common stockholders
$
14.2

 
$
12.7

 
$
22.9

 
$
21.9

Diluted net income
$
14.5

 
$
13.0

 
$
23.3

 
$
22.4

Less: Allocation to participating securities
(0.3
)
 
(0.3
)
 
(0.4
)
 
(0.5
)
Diluted net income allocated to common stockholders
$
14.2

 
$
12.7

 
$
22.9

 
$
21.9

Denominator:
 
 
 
 
 
 
 
Weighted average number of:
 
 
 
 
 
 
 
Common shares outstanding
18,592,643


18,599,011

 
18,621,337

 
18,546,377

Dilutive potential common shares outstanding:
 
 
 
 
 
 
 
Share-based awards
162,807

 
358,769

 
200,485

 
196,656

Diluted weighted-average shares
18,755,450

 
18,957,780

 
18,821,822

 
18,743,033


The dilutive effect of share-based awards is reflected in diluted net income per share by application of the treasury stock method, which includes consideration of unamortized share-based compensation expense required under the Compensation – Stock Compensation Topic of the ASC.
Options to purchase 986,339 and 999,125 shares of common stock for the three months ended March 31, 2016 and 2015, respectively, and options to purchase 900,665 and 1,275,944 shares of common stock for the six months ended March 31, 2016 and 2015, respectively, were excluded from the calculation of diluted earnings per share as they would have been anti-dilutive.