| Schedule of Calculation of Numerator and Denominator in Earnings Per Share |
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) | 2023 | | 2022 | | 2021 | | Numerator: | | | | | | | Net income | $ | 238.5 | | | $ | 207.1 | | | $ | 116.3 | | | Less: Allocation to participating securities | (8.1) | | | (6.1) | | | (3.5) | | | Net income allocated to common stockholders | $ | 230.4 | | | $ | 201.0 | | | $ | 112.8 | | | Denominator: | | | | | | | Weighted average number of: | | | | | | | Common shares outstanding | 19,957,333 | | | 19,570,403 | | | 19,130,643 | | | Dilutive potential common shares outstanding: | | | | | | | Share-based awards | 662,007 | | | 497,137 | | | 547,525 | | | Diluted shares outstanding | 20,619,340 | | | 20,067,540 | | | 19,678,168 | | | | | | | | | Earnings per share - basic | $ | 11.55 | | | $ | 10.27 | | | $ | 5.90 | | | Earnings per share - diluted | $ | 11.18 | | | $ | 10.01 | | | $ | 5.74 | |
The following table presents unaudited proforma earnings per share on a post-split basis for the periods indicated. | | | | | | | | | | | | | | | | | | | | Year Ended September 30, | | (in millions, except share amounts) | 2023 | | 2022 | | 2021 | | (Unaudited) | | Numerator: | | | | | | | Net income allocated to common stockholders, as reported | $ | 230.4 | | | $ | 201.0 | | | $ | 112.8 | | | Proforma Denominator (with effect of stock split): | | | | | | | Weighted average number of: | | | | | | | Common shares outstanding | 29,936,000 | | | 29,355,605 | | | 28,695,965 | | | Dilutive potential common shares outstanding: | | | | | | | Share-based awards | 993,011 | | | 745,706 | | | 821,288 | | | Proforma diluted shares outstanding | 30,929,011 | | | 30,101,311 | | | 29,517,253 | | | | | | | | | Proforma earnings per share - basic | $ | 7.71 | | | $ | 6.85 | | | $ | 3.93 | | | Proforma earnings per share - diluted | $ | 7.45 | | | $ | 6.67 | | | $ | 3.82 | |
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