Earnings Per Share

6 Months Ended

Mar. 31, 2015

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 and restricted stock.

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,
	2015		2014		2015		2014
Numerator:
Net earnings	$	43,855	$	44,798	$	87,639	$	68,181
Denominator:
Basic shares outstanding		65,159		66,633		65,242		67,182
Dilutive effect of stock options and restricted stock		1,381		1,272		1,399		1,281
Diluted shares outstanding		66,540		67,905		66,641		68,463
Income per common share:
Basic earnings per share	$	0.67	$	0.67	$	1.34	$	1.01
Diluted earnings per share	$	0.66	$	0.66	$	1.32	$	1.00

The following stock option grants were outstanding during the three and six-months ended March 31, 2015 and 2014, 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,
	2015		2014		2015		2014
Options		698		720		701		244
Weighted-average option price	$	46.55	$	41.02	$	46.54	$	41.08

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,
	2015		2014		2015		2014
Weighted-average treasury stock shares held for deferred compensation obligations		202		225		201		228