Earnings Per Share

6 Months Ended

Mar. 31, 2013

Earnings Per Share

Earnings Per Share

Note 3.  Earnings per share

Basic earnings per share is computed by dividing net earnings available to common stockholders by the weighted-average number of shares of common stock outstanding for the period.

Diluted earnings per share reflects the weighted-average number of shares outstanding after consideration of the dilutive effect of stock options.

The following is a reconciliation of net earnings to basic earnings per share and diluted earnings per share:

	Three-Months Ended				Six-Months Ended
	March 31,				March 31,
	2013		2012		2013		2012
Numerator:
Net earnings	$	42,446	$	38,751	$	69,814	$	67,168
Denominator:
Basic shares outstanding		68,737		69,077		68,597		68,998
Dilutive effect of stock options		1,198		1,547		1,234		1,506
Diluted shares outstanding		69,935		70,624		69,831		70,504
Income per common share:
Basic earnings per share	$	0.62	$	0.56	$	1.02	$	0.97
Diluted earnings per share	$	0.61	$	0.55	$	1.00	$	0.95

The following stock option grants were outstanding during the three and six-months ended March 31, 2013 and 2012, but were excluded from the computation of diluted earnings per share because their inclusion would have been anti-dilutive:

	Three-Months Ended				Six-Months Ended
	March 31,				March 31,
	2013		2012		2013		2012
Options		722		6		70		39
Weighted-average option price	$	34.05	$	40.60	$	37.48	$	34.63

The weighted-average shares of common stock outstanding for basic and diluted earnings per share included the weighted-average treasury stock shares held for deferred compensation obligations of the following:

	Three-Months Ended				Six-Months Ended
	March 31,				March 31,
	2013		2012		2013		2012
Weighted-average treasury stock shares held for deferred compensation obligations		266		304		270		307