Earnings Per Share

3 Months Ended

Dec. 31, 2016

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
	December 31,
	2016		2015
Numerator:
Net earnings	$	46,548	$	25,820
Denominator:
Basic shares outstanding		61,559		63,054
Dilutive effect of stock options and restricted stock		2,112		1,398
Diluted shares outstanding		63,671		64,452
Income per common share:
Basic earnings per share	$	0.76	$	0.41
Diluted earnings per share	$	0.73	$	0.40

There were no stock option grants outstanding during the three-months ended December 31, 2016 or 2015 that were excluded from the computation of diluted earnings per share because their inclusion would have been anti-dilutive.

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

December 31,

Weighted-average treasury stock shares held for deferred compensation obligations