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Earnings per Share (Notes)
 12 Months Ended
Sep. 30, 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.
 
Year Ended September 30,
(in millions, except share amounts)
2016
 
2015
 
2014
Numerator:
 
 
 
 
 
Income from continuing operations
$
54.7

 
$
55.7

 
$
19.6

Less: Allocation to participating securities
(1.0
)
 
(1.3
)
 
(0.5
)
Income from continuing operations allocated to common stockholders
$
53.7

 
$
54.4

 
$
19.1

Loss from discontinued operations
$
—

 
$
—

 
$
(0.3
)
Less: Allocation to participating securities
—

 
—

 
—

Loss from discontinued operations allocated to common stockholders
$
—

 
$
—

 
$
(0.3
)
Diluted net income
$
54.7

 
$
55.7

 
$
19.3

Less: Allocation to participating securities
(1.0
)
 
(1.3
)
 
(0.5
)
Diluted net income allocated to common stockholders
$
53.7

 
$
54.4

 
$
18.8

Denominator:
 
 
 
 
 
Weighted average number of:
 
 
 
 
 
Common shares outstanding
18,410,561

 
18,525,374

 
18,528,302

Dilutive potential common shares outstanding:
 
 
 
 
 
Share-based awards
214,811

 
406,861

 
604,000

Diluted shares outstanding
18,625,372

 
18,932,235

 
19,132,302


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 910,060, 997,459 and 1,120,985 shares of common stock for fiscal years ended September 30, 2016, 2015, and 2014, respectively, were excluded from the calculation of diluted earnings per share because they would have been anti-dilutive.