Earnings Per Share

9 Months Ended

Jun. 30, 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				Nine-Months Ended
	June 30,				June 30,
	2013		2012		2013		2012
Numerator:
Net earnings	$	23,663	$	28,302	$	93,477	$	95,470
Denominator:
Basic shares outstanding		68,323		68,922		68,506		68,973
Dilutive effect of stock options		1,107		1,397		1,192		1,473
Diluted shares outstanding		69,430		70,319		69,698		70,446
Income per common share:
Basic earnings per share	$	0.35	$	0.41	$	1.36	$	1.38
Diluted earnings per share	$	0.34	$	0.40	$	1.34	$	1.36

The following stock option grants were outstanding during the three and nine-months ended June 30, 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				Nine-Months Ended
	June 30,				June 30,
	2013		2012		2013		2012
Options		722		31		239		45
Weighted-average option price	$	34.06	$	41.53	$	34.83	$	35.87

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				Nine-Months Ended
	June 30,				June 30,
	2013		2012		2013		2012
Weighted-average treasury stock shares held for deferred compensation obligations		247		284		262		299